HI ALL PLS EXPLAIN IN BRIEF ABOUT DEBIT& CREDIT& ALSO GIVE EXAMPL

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Question

HI ALL PLS EXPLAIN IN BRIEF ABOUT DEBIT& CREDIT& ALSO GIVE 
EXAMPLES FOR PERSONAL a/c,REAL a/c,NOMINAL a/c?

Question Submitted By :: Nazeer

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Re: HI ALL PLS EXPLAIN IN BRIEF ABOUT DEBIT& CREDIT& ALSO GIVE EXAMPLES FOR PERSONAL a/c,REAL a/c,NOMINAL a/c?

Answer
# 1

personal a/c - Debit the receiver & credit the giver
Real a/c - Debit what comes in & credit what goes out
Nominal a/c - Debit all expenses & losses & Credit all 
incomes & gains

Is This Answer Correct ?

3 Yes

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Jagadish

Re: HI ALL PLS EXPLAIN IN BRIEF ABOUT DEBIT& CREDIT& ALSO GIVE EXAMPLES FOR PERSONAL a/c,REAL a/c,NOMINAL a/c?

Answer
# 2

Debit & Credit are noting but Two Sides of a each & Every 
Acoount in Double entry System.

e.g. Personal A/c- Dhiraj A/c,A/c in the Name of Co.etc
Real A/c- MachinaryA/c, Building A/c,
Nominal A/c- Nominal A/c are the accounts prepered for 
nominal reason.e.g. postage A/C,Curiour A/c etc

Is This Answer Correct ?

1 Yes

0 No

Praveen

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