What are the rules of Account?
Answers were Sorted based on User's Feedback
Answer / kailash kamble
1. Real Accounts : Debit what comes in
Credit what goes out
2. Nominal Accounts : Debit All Expenses And Losses
Credit All Income And Revenue
3. Personal Accounts : Debit the Reciver
Credit the Giver
| Is This Answer Correct ? | 31 Yes | 1 No |
personal a/c
dr. the ricever cr.the giver
real a/c
dr. what comein cr. what goesout
nominall a/c
dr. all expenses/loss cr. all incom/gain
| Is This Answer Correct ? | 15 Yes | 1 No |
Answer / mohd.nayeem islaahi
Personal A/c
Debit The receiver credit giver
Real A/c
Debit what comes in credit what goes out
Nominal A/c
Debit all expenses or losses credit All incomes or gains
| Is This Answer Correct ? | 10 Yes | 0 No |
Answer / aashutosh biswas
REAL ACCOUNTS DEBIT WHAT COMES IN
CREDIT WHAT GOES OUT
NOMINAL ACCOUNTS DEBIT ALL EXPENSES AND LOSSES
CREDIT ALL INCOMES AND REVENUES
PERSONAL ACCOUNTS DEBIT THE RECEIVER
CREDIT THE GIVER
| Is This Answer Correct ? | 6 Yes | 1 No |
Answer / swaranjali
Every debit effect should have corresponding credit effect.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / ch.brahmaji
2types of rules of accounting
1) personal accounting
2) impersonal accounting
1) personal accounting in that include of only personal
related to account rules
1 natural person
2 artificial person
3 Representative person rules of using
PERSONAL ACCOUNTS DEBIT THE RECEIVER
CREDIT THE GIVER
impersonal accounting
1 nominal accounting
2 real accounting
NOMINAL ACCOUNTS DEBIT ALL EXPENSES AND LOSSES
CREDIT ALL INCOMES AND REVENUES
real accounting is assets
in that many types of assets are like fixed assets ,current
assets ,
REAL ACCOUNTS DEBIT WHAT COMES IN
CREDIT WHAT GOES OU
| Is This Answer Correct ? | 0 Yes | 1 No |
What are the rules of Account?
difference between rent office rent
what is entry of loan & Advance given to Client Rs. 4 crore @ 3% per month for one year,Interest Recievable,Interest Recd.
A sole trader run a business, and he takes every month fixed salary, he says this salary should not be affect in profit and loss a/c, he wants this salary transfer to his capital a/c, means he wants increased his capital - My question is as per the accounting system is it possible?
If i have started a new institution than what are the entries i have to passed in tally
I M DIVISIONAL ACCOUNTANT. POSTED IN TAMILNADU. MY NATIVE STATE IS BIHAR. I WANT TO KNOW, WHAT R THE RULES OF CADRE TRANSFER. I M FACEING HERE SOME PROBLEMS
What is the meaning of Central Excise and State Excise Duty & also want to know differnec between them
What is Profit and Loss Account? What is Balance Sheet?
what is debit note & credit note?
ten example of direct income
how to select afile in window vista
Withhold Tax Types