Interested to Buy Any Domain ? << Click Here >> for more details...
basic rules in accounting
- 10 Answers
- 19504 Views
- CA, ITC Infotech, KDCC, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / rdiyewar
1. Debit to receiver
Credit to giver
2. Debit what comes in
Credit what goes out
3. Debit All Exp /Loss
Credit Income/Gain
| Is This Answer Correct ? | 136 Yes | 6 No |
Answer / naresh
their are 3 types of accountants
1) personal account
2) Real account
3)nominal account
personal a/c
Dr receiver
Cr to giver
Real a/c:
Dr what comes in
Cr what goes out
nominal A/c
All Exp /Loss
Cr Income/Gain
| Is This Answer Correct ? | 109 Yes | 2 No |
Answer / viral
1) Personal a/c
debit to receiver a/c
credit to giver a/c
2) Real a/c
debit what comes in
credit what goes in
3) Nominal a/c
debit to all expenses/loss
credit to income/gain
| Is This Answer Correct ? | 47 Yes | 3 No |
Answer / rdiyewar
Rule 1: Total asset= Total liab + owner's Equity
Rule 2: Debit: all exp & loss
Credit: all income & gain
Rule 3: Total of debit side = Total of credit side
| Is This Answer Correct ? | 73 Yes | 35 No |
Answer / rangasamy
personel accout
debit = receviver
credit = give
real account
debit = what comesin
credit what goes out
nominal account
debit = expenses / looss
credit = income /gain
| Is This Answer Correct ? | 39 Yes | 3 No |
Answer / junaid
Personal
Debit to Receiver
Credit to Giver
Nominal
Debit to all Exp / Loss
Credit to all incomes / gains
Real
Debit to what comes in
Credit to what goes out
| Is This Answer Correct ? | 28 Yes | 1 No |
Answer / sunny
They are those basic principles and conventions of
preparing an accounting statements and in recongnition of
certain transactions in the accounts and their
treatments.Eg, The Double entry principle which states
that, for every debit entry, there must be a corresponding
credit entry in order that the account can balance.
| Is This Answer Correct ? | 37 Yes | 13 No |
Answer / anil bhujel
Generally there are three sorts of accounts,i.e. Personal
accout, real account and nominal account.
1)Personal Account:
Dr.Receiver
CR. Giver
2)Real Account:
Dr. What comes in
Cr. What goes out
3)Nominal Account:
Dr.All expenses/loss
Cr. al profits/gains
| Is This Answer Correct ? | 12 Yes | 1 No |
Answer / lalit kumar
real a/c
comes in is dr
goes out is cr
nominal a/c
loss are always
incoms are always cr
recever dr
giver cr
| Is This Answer Correct ? | 6 Yes | 1 No |
Answer / deepak
As per modern accounting concepts,
Assets/Expenses: -
Increase - Debit
Decrease - Credit
Liablities/Income: -
Increase - Credit
Decrease - Debit
No doubt, Golden Rules of accounting also exists as stated
above by many of my friends. But modern rules is a better &
simpler way to understand the accounting entries.
| Is This Answer Correct ? | 1 Yes | 0 No |
WHY LOSS IN BUSINESS IS SHOWN IN ASSETS SIDE OF BALANCE SHEET? WHY EXCISE DUTY IS DEDUCTED FROM THE GROSS SALES TO ARRIVE NET SALES? WHY SALES TAX IS NOT DEDUCTED FROM SALES TO ARRIVE NET SALES?
what is audit mean? what is vouching? how to finalize the account? what is the meaning of + cast < as per last year auditor’s a/c ^ as per ledger JV journal voucher PV payment voucher AJV authorised journal voucher APV authorised journal voucher RV receiving voucher PCV petty cash voucher CPV cash payment voucher DN debit note DO delivery order PO purchases order CN credit note PS policy schedule RPS renewal policy schedule B bill Cx cross check nCx cannot cross check CB cash bill L list/letter SRF stock requisition form R report OR office report INV invoice DS deposit slip AB assessment bill Re receipt ECF entertainment claim form ATRF air ticket requisition form
Expand---------NAR
what is open item managed account?
What will your outlook towards maintenance of liquid assets to ensure that the firm has adequate cash in hand to meet its obligations at all times
how Mis reports are used?n why it is used ? explain
what is term loan?
What is Analysing
EXPAND___________ISRO
Acquired shares of X company worth 100000, company declared 10% as dividends, but not paid to u. Now what entry u pass while purchasing those shares, what entry u pass when company declared dividents but not paid, and what entry u pass when u receive the dividend..?
expand------SSTC
What do you mean by the working-capital of an organization??? How is it calculated????? Also Define the importance of liquidity ratio along with its formula.
5 Answers BA Continnum Solutions,
Audit 
