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what are the golden rule of accounting.
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Answer / swati shinde
There are three accounts
1. Personal
2. Real
3. Nominal
The three golden rules are
1. personal Account
Debit the receiver & Credit the giver
2. Real Account
Debit what comes in & credit what goes out
3. Nominal Account
Debit the expenses & Losses & Credit the Income & gain
| Is This Answer Correct ? | 309 Yes | 7 No |
Answer / vinodkumar
There are Three golden rules in accountings
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
| Is This Answer Correct ? | 83 Yes | 7 No |
1. Debits always equal credits
2. Increases do not necessarily equal decreases and,
3. Assets - liabilities = owner's equity (the accounting
equation).
and
There are three accounts
1. Personal
2. Real
3. Nominal
The three golden rules are
1. personal Account
Debit the receiver & Credit the giver
2. Real Account
Debit what comes in & credit what goes out
3. Nominal Account
Debit the expenses & Losses & Credit the Income & gain
| Is This Answer Correct ? | 72 Yes | 14 No |
Answer / g krishna
1) debit the receiver and credit the giver
2) debit what comes in credit whats goes out.
3) debit all expences and loses and credit all income and
gains.
| Is This Answer Correct ? | 49 Yes | 7 No |
Answer / nirmal
1. PERSONAL
2. REAL
3. NOMINAL
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 ? | 38 Yes | 4 No |
Answer / prabhakar reddy
1. Debits always equal credits
2. Increases do not necessarily equal decreases and,
3. Assets - liabilities = owner's equity (the accounting
equation).
| Is This Answer Correct ? | 83 Yes | 56 No |
Answer / parisa siva koteswara rao
Three are two golden rules in accountings
1.Personal account
2.impersonal Account
impersonal account again two rules
1 real account
2.nominal account
personal account means:
Debit the receiver, credit the giver
Real account means:
Debit what comes in., Credit what goes out
Nominal account means:
Debit all expenses and losses,credit all incomes and
gains
| Is This Answer Correct ? | 36 Yes | 10 No |
Answer / anshad
asset- increase -debit
asset - decrease - credit
liability-increase-credit
liability- decrease - debit
expense - increase - debit
expense - decrease - credit
income - increase - credit
income - decrease - debit
| Is This Answer Correct ? | 45 Yes | 21 No |
Answer / suraj bepari
There are three accounts
1. Personal
2. Real
3. Nominal
The three golden rules are
1. personal Account
Debit the receiver & Credit the giver
2. Real Account
Debit what comes in & credit what goes out
3. Nominal Account
Debit the expenses & Losses & Credit the Income & gain
In a short form & easy to understand ----
asset- increase -debit
asset - decrease - credit
liability-increase-credit
liability- decrease - debit
expense - increase - debit
expense - decrease - credit
income - increase - credit
income - decrease - debit
| Is This Answer Correct ? | 24 Yes | 7 No |
Answer / antony raj
personal account
debit receiver
credit giver
real account
what comes in
what goes out
nominal account
expenses and losses
income and gain
| Is This Answer Correct ? | 19 Yes | 6 No |
Give some example of real,personal & nominal accounts , & which kind of a/c reflect p&l & BS.
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