golden rules of accounting
- 3 Answers
- 10034 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / mahmmed rasheed
personal account,
debit the receiver
credit the giver
real account
debit what comes in
credit what goes out
nominal account,
debit all expenses and losses
credit all incomes and gains
since these three rules are essential to post entries.
thats why called as golden rules of accounting.
| Is This Answer Correct ? | 28 Yes | 0 No |
Answer / vinay kumar . pagidikondala
The accounts are divided into two groups i.e.
$ Personal accounts
Debit is the receiver
Credit is the giver
Ex: Sundry creditors & Sundry debtors, etc
$ Impersonal accounts
== Real accounts
== Nominal accounts
Real accounts :
Debit is what comes in
Credit is what goes out
Ex:- Furniture, Land, Building, cash, etc
Nominal accounts :
Debit is all expenses and losses
Credit is all incomes and gains
Ex:- Salraies, intrest, etc
| Is This Answer Correct ? | 6 Yes | 0 No |
what are the General Ledger (G L)Accounts?
what is depreciation
how can we copy and paste an whole entry in tally9?
salary entry with briefly including pf,esi,employee advances -journal entry with against payment entry
what type account are below Debentures Bank overdraft
How to pass accounting entry for a tender cost and under which head? and how to show joint venture in venture's accounting books?under which head?
If A invested Rs.50000/- in F.D. & After maturity he got 56500/-. He added more Rs.43500/- in it & make F.D. for Rs.100000/- how i pass this entry. still bank has not credited 56500/- to A`s Account. please answer me
What is GL Master Maintanance
what do you mean by accrual & due ? What is the difference between Accrual & due?
How create the invoices?
0 Answers Infomatics Software Solutions,
i, transfer to capital redemption reserve is not allowed from A, GENERAL RESERVE B, PROFIT PRIOR TO INCORPARATION C, RESERVE FUND D, NONE OF THE ABOVE
credit rating
Audit 
