Golden rules of accounting
- 369 Answers
- 646747 Views
- Accenture, Accounting, Ajuba, Birla Tyres, Chartered Accountant, Flextronics, Genpact, Hewitt, HP, Intel, JPMorgan Chase, Northern Transport, Oracle, Scope International, TCS, TransWorld, UCO Bank, WNS, I also Faced
- E-Mail Answers
Answer Posted / praveen kumar
Golden Rules Debit and Credit of Personal and Impersonal
accounts are called golden rule.
Personal A/C: Debit the Received
Credit the Giver
Real A/C: Debit What Comes In.
Credit what Goes Out.
Nominal A/C: Debit all expenses and lossed
Credit all Incomes and Gains
| Is This Answer Correct ? | 4 Yes | 1 No |
Post New Answer View All Answers
Q13. Journalise the following transactions: Proprietor withdrew for private use Rs.4000/- from bank and 6000/- cash. Goods Costing Rs.5000 was burnt by fire. Purchase Machinery for cash Rs.150000/- and paid Rs.2000/- on its Installation. Charge 5% Depreciation on building costing Rs.200000/- and 8% Depreciation on Furniture costing Rs.5000/-. Prepaid Salary Rs2000/- Kapil who owed us Rs20000/- become insolvent and nothing is received from his estate.
i want to know the TDS deduction Chart for 2008/09 Eg : professional fee ,contractors ,subcontroctors. rent . ............
as per partership firm TDS receivable at the end of goes to partners current account, but at the multinational company how pass TDS entry pass, where is it is goes
plz send me the accounting questions and answers of bank of america.
what are the uniform public construction cost accounting act procedures?
How can fictitious assets be measured or valued?
let me know the meaning and Nature of cash
Should I have perfect credit score, that is, above 800 credit score?
If in a PO, the freight condition is mentioned as Air freight and the material is actually received by Road, how does the system check before making the necessary accounting entries?
how to entry of hra
What is the base for issuing of C-form date of sale or date of purchase since goods sent by one quarter ended may reach in next quarter.
wHAT ARE EVENTS
How good are you at Finance?
What is the difference between income statement & Profit&loss A/c?
Two months rent of Rs 25000/- was adjusted in Rental advance account at the time vacating office
