types of accounts and its rules
- 3 Answers
- 5019 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Types of accounts
1. Personal,
2. Real,
3. Nominal.
Rules of Accounting:
1. Personal Accounts: Debit the receiver; Credit the giver
2. Real Accounts: Debit what comes in; Credit what goes out
3. Nominal Accounts: Debit expenses & losses; Credit incomes
& gains
| Is This Answer Correct ? | 6 Yes | 1 No |
Answer / sumitra.raghavan
accounts are :Personal account dr the receiver,cr the giver
real account dr what comes in cr what goes out
nominal account dr all expenses and losses cr
all incomes and gain
| Is This Answer Correct ? | 0 Yes | 0 No |
how to create a profit and loss a/c
How to calculate closing stock? I have opening stock of 72 lacs (average costing without tax) and purchase of 49 lacs (with tax) and sales of 101 lacs (without tax). What is my closing stock then???? Should i add tax in sales? Where all should tax be included and where all should tax NOT be included? Right now i calculated => 72(no tax)+49(with tax)-101(no tax) = 20 lacs. IS this correct?
expand I M F L
Expand-------ANTS
i was asked to journalise nominal accounts please give me the answer with examples so dat its easy for me 2 understand
Does a M.Com graduate earn Rs25000 per month?
What are different types of reports made in tally
what is debit note received entry ?
Expand-----SICA
expense paid but the benefit not been received so far like deferred exp so can we consider it as a prepaid exp.
What is RTGS system and when it was formulated and who?
what is goodwill? goodwill what kind of asset for the company?tangible or intangible asset? how much improtant for the company?
Audit 
