Interested to Buy Any Domain ? << Click Here >> for more details...
golden rules of accounting
- 2 Answers
- 5765 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / dharani
There are three types of accounts. Personal, Real, and
Nominal. For recording transactions and to categorise
whether it is debit or credit, golden rule is important.
Personal - Debit the Receiver & credit the giver.
Real - Debit what comes in & credit what goes out.
Nominal - debit all expenses and losses/credit all incomes
and gains.
| Is This Answer Correct ? | 14 Yes | 0 No |
Answer / adish jain
personal accounts ( dr. the receiver and cr the giver)
real a/cs ( dr. whats comes in and cr what goes out)
nominal a/cs (dr all expenses and cr all incomes
| Is This Answer Correct ? | 5 Yes | 0 No |
Credit balance of suspense A/c will be shown in
How do I record a prior year property tax refund on sale of asset due to overvaluation
hi What is entry when goods/material reced on 31st March but,invoice yet not received.
what is an ideal organisation
Should purchase of Hard Disk and DVD be capitalised?
what is the purpose of preparing profit and loss appropriation account in the partnership firm?
How is the accounting for lease transactions done?
i know that preliminary expenses are fixed cost but current or non current
3, SURVEY EXPENSES FOR MARINE INSURANCE CLAIMS MUST BE A, addedto claim B, added to legal charges c, added to administrative expenses d, none of the above
Why Capital is Posted in the credit side? Concept of it briefly .
Particulars Dr Cr Capital 10,000 Machinery 3000 debit 2500 1400 sales - 14,500 drawings 900 purchase 9500 wages 5000 bank 1500 Opening balance 2000 rent 450 salary 200 carriage 150 total ___________ _________ 25,900 25,900 ____________ ________ how to find closing stock as on 31st dec,1998. wages outstanding 200/- sunnery expenses outstanding 100/- rent prepaid 100/-
What is difference between provisional and projected balance Sheet
Audit 
