Interested to Buy Any Domain ? << Click Here >> for more details...
Examples each for golden rules of accounting
- 31 Answers
- 200100 Views
- ABC, Accenture, BSNL, DELL, General Insurance Corporation, Genpact, IBM, Microsoft, Wipro, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Golden Rules of Accounts
Personal Account Real Account Nominal Account
1. Personal Account :-
Debit -receiver
Credit- giver
2. Real Account :- Debit – What comes in
Credit – What goes out
3. Nominal Account :-Debit – All expenses and losses
Credit – All Incomes and gains
| Is This Answer Correct ? | 7 Yes | 0 No |
Answer / adapa.hemaseshasaithi
Salary is a kind of nominal a/c because it is an expense for the business concern and hence it is debited while recording in the books of accounts.
| Is This Answer Correct ? | 5 Yes | 0 No |
Answer / chandrasekhar:k
1.personal account;
Debit the receiver
Credit the giver .
example:goods purchased form the ramu Rs.3000 .
Goods a/c Dr
TO Ramu a/c
{being goods purchased from ramu by credit purchases}
2.Real account:
Debit what comes
Credit what goes out
example:Buildings purchased for cash
Building a/c
To cash a/c
{being building purchased for cash }.
3.Nominal account:
Debit all expences and losses
Credit all incomes and gains
example:rent paid
Rent a/c
To cash
{being rent paid }
| Is This Answer Correct ? | 5 Yes | 2 No |
Answer / rupesh sharma
anyone can tell payable wages what type of account
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / monu
debit the reciever
credit the giver
debit what comes in
credit what goes out
debit all exp.and losses
credit all income and profit
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / adapa.hemaseshasaithi
payable wages which is also called as the outstanding wages is the representative personal a/c because it is representing that certain amount is payable to a person and it is the liability for the business concern. the journal entry for the payable wages is as follows:
wages a/c dr
To outstanding wages a/c it is shown on the liabilities side of the balance sheet.
| Is This Answer Correct ? | 0 Yes | 1 No |
general entry for credit purchases, credit sales, golden rules of accounting,what is contribution.
In which book of prime entry would the vat output Vat on credit sale be recorded?
2 Answers Digitals India security, Genpact, Marketing Sales, SSIL,
what is difference between job costing and process costing?
what is journal entry in the transferee company book in the case of amalgation
What is treasury operation..? How does it work..?
If We Are Purchase Any Service For Ex. Agency Charges From Creditors & Give Or Sale The Same To Debtors; Then How I Open Agency Charges Ledger? What Is The Grouping Of It? Is It Purchase A/c. Or Sales A/c.? And If Its Purchase A/c. Then How I Enter It In Debtors A/c. Or Should I Make Two Different Ledgers With Two Groupings Purchase One And Sales One?
v, An amount spent for inaguration of new factory building is A, revenue expenditure B, capital expenditure c, prepaid expenditure d, none of the above
what are the types of option contract?
Tell me what is reversing journal entries?
Can share warrants issued by the company be considered as potential equity shares? If yes, then will it be considered for calculating dilutive EPS?
Diffrence between Statutory Audit & Internal Audit
What is fitting and fixtures?
Audit 
