Answer / r.ajay kumar

Classification of accountancy can be divide in to two types
they are 1.personal accounts and 2.impersonal accounts

Persons a/C's Bank account and other firms accounts are
treated as a personal accounts.personal accounts use only in
the sin gal Entry system.this system not given the full
information of accounts.this system prepare only personal a/C's

Impersonal accounts can be divide in to the two types they
are 1.Real account 2.Nominal account
principals
Real accounts what comes in
what goes out
Nominal accounts All assets,expenses and losses are Dr
All liabilities,incomes,profits/gains areCr

Answer / anil panchal

Personal Account

Debit the receiver &
Credit the giver

Real Account

Debit what comes in &
Credit what goes out

Nominal Account

Debit All expenses and all losses
Credit All Incomes & All Profits

Answer / m. arokiyaraj

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

Answer / c.sasikuar

personal A/c : Debit the receiver
credit the giver,
Real a/c: Debit what come in
credit what goes out
Nominal a/c : All expenses & loss debit
All income & gain credit

Answer / raghav arora

Difference beteeen revenue expediture&capital
expediture.


2Repair of old MACHINRRY IS CAPITAL expediture OR revenue
expediture

Answer / rudrakumar

basic rules of accounting are we can divid in 3 types shown
as below,
Personal a/c : Dabit the receiver & credit the giver
For exple : Ramesh A/c Shriram & sons Co a/c

Real A/c : Dabit what comes in and credit What goes out
For Exple : Cash a/c, Furniture a/c,machinery a/c

Nominal A/c : Dabit all expenses and losses & Credit all
Incomes and gains
For Exple : Commision, Rent, taxes, frieght charges.

Answer / krishna

THERE ARE THREE BASIC RULES IN ACCOUNTING.

1] PERSONAL ACCOUNT :-
"DEBIT THE RECEIVER
CREDIT THE GIVER"

2] REAL ACCOUNT :-
"DEBIT WHAT COMES IN
CEDIT WHAT GOES OUT"

3] NOMINAL ACCOUNT :-
"DEBIT ALL EXPENSES&LOSSES
CEDIT ALL INCOMES&GAINS"

Answer / ganeshkumar

BASIC RULES ARE 3 TYPES
1. PERSONAL A/C.
DEBIT THE RECEVIER
CREDIT THE GIVER
2.REAL A/C
WHAT COMES IN DEBIT
WHAT GOES OU CREADIT
3.NOMINAL A/C
ALL EXPENCES AND LOSSES DEBIT
ALL INCOMES AND GAINS CREADIT

Answer / bhuvaneshwari.r

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 Exp and Losses
Credit all Incomes and gains

Answer / ankit kumar tayal

Personal a/c: Debit the reciver
credit the giver

Real A/c : Debit wht coms in
Credit wht gose out

Nominal a/c : Debit all exp.& losses
Credit all Gain & income

my boss (Managing Partner of a firm) promoted along with his wife a private limited company. he and she spent some Rs. 75,000/- (approx) for the promotion of the company. i know that they usually fall under the head of preliminary expenses. but after receiving the certification of incorporation of the company how shall i repay them to the promoters i.e. what is the accounting entry in the books (initial books of accounts) for the expenditure incurred. they have kept in hand 5,00,000/- each to meet the expenses and they were allotted shares of equal to the amount. can i allot shares for a consideration of cash from and excluding the preliminary expenses. can i take cash towards the share application money (being the cash more than Rs. 20,000/-) as the company has not opened a bank account yet. please give me the detailed answer with journal entries that can be entered in tally. thank you.

0 Answers  

The opening Capital of a concern is Rs.30000/- owner withdral for personal use Rs.28000/- Closing capital balance of concern is Rs.37000/- choose the correct answer from the following. 1.Net Loss Rs.14000/- 2.Net Profit Rs.35000/- 3.Net profit Rs.14000/- 4.Net Loss Rs.35000/-

15 Answers   Genpact,

if average inventories is 12000. closing stock is 3000 more than opening stock. then what's is the closing stock?

2 Answers  

What is the journal entry for Call and a Put option both in the books of buyer and seller

0 Answers   Accenture,

what is capital market, stock market and share market?

2 Answers   Mellon,

how to calculate BEP in this problem? Sales Rs.3,00,000 Fixed Exp. Rs. 75,000 Direct Material.Rs.1,00,000 Direct Labour Rs.60,000 Direct exp. RSs.40,000

2 Answers  

why the RRB'S not lend loans directly to farmers?

0 Answers  

THE DEBIT BALANCE OF THE P&L A/C IS SHOWN IN WHICH COLUMN OF BALANCE SHEET

59 Answers   Capital IQ, College School Exams Tests, Renault, State Bank Of India SBI, WS,

Expand L I P

1 Answers  

Expand S E C

3 Answers  

what is leverage n detail and tpoes of leverage with iagram?

0 Answers  

what are the similarities between cost accounting and management accounting?

1 Answers   Muthoot Group,