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Golden rules of accounting
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Answer / ghansham kannake
REAL A/C : DEBIT WHAT COMES IN
CREDIT WHAT GOES OUT
NOMINAL A/C : DEBIT ALL EXPENSES & LOSSES
CREDIT ALL INCOMES & GAINS
PERSONAL A/C : DEBIT THE RECEIVER
CREDIT THE GIVER
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / vicky
REAL ACCOUNT- Debits what comes in.
credit what goes out.
PERSONAL ACCOUNT- Debit the receiver and credit the
gives.
NORMINAL ACCOUNT- Debit all losses and expenses and credit
all profit and incomes.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / pankaj
Real account
Debit what comes in
Credit what goes out
Personal account
Debit the receiver
Credit the giver
Nominal Account
DEbit all expenses and loss
Credit all income and gains
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / deepali haryan
Real Account:Debit what comes in
Credit what goes out
Nominal Account:Debit all expenses and losses
Credit all income and gain
Personal Account:Debit the receiver
Credit the giver
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / nitin gandhi
1}Personal Account:
Debit to the Receiver
Credit to the Giver
2)Real Account:
Debit What Comes In
Credit What Goes Out
3)Nominal Account:
All Expenses or Losses Account Dr.
All Income or Gain Account Cr.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / prasant kumar das
Personal A/c-debit the Receiver
Credit the giver.
Real A/c- Debit What come in.
Credit what goes out.
Nominal A/c-All expense and loss are debit.
All income and gain are credit.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / sunanda banerji
Personal a/c:Debit the reciever
credit the giver
Real a/c:debit what comes in
credit what goes out
Nominal a/c:debit all expenses and losses
credit all incomes and debts
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / ahasan khan(mr.pardeep)
Personal A/C- Debit the receiver
Credit the giver.
Real A/c Debit what comes in
Credit what goes out.
Nominal A/c Debit All the Expense & Loss
Credit all the Gains & Income & profit
if are the two condition choose Nominal A/c or Personal A/c
You choose Nominal A/C
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / prashant.railar
Personal A/c: Debit the receiver
Credit the Giver
Real A/C : Debit What come in
Credit What goes out
Nominal A/C : Debit All expense & loss
Credit All incomes & gains
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / shahnawaz
Personal A/c:Debit the receiver
Credit the giver
Real A/c: Debit what comes in
Credit what goes out
Nominal A/c:debit all expences and losses
Credit all incomes and gains
| Is This Answer Correct ? | 0 Yes | 0 No |
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ABC Ltd. firm has a sales of Rs.6 crores, Variable cost Rs. 3.5 crores and Fixed cost of Rs. 0.65 crores. The firm has debt and equity resources worth of Rs.7 crores and 10 crores respectively. With the data given show : (i) The firm’s ROI. (ii) EBIT if sales decline to Rs.4 crores. (iii) If the industry’s assets turnover is 4 times, does the firm has high or low asset turnover? The cost of debt is 12%. Ignore taxation.
Audit 
