basic rules in accounting

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basic rules in accounting ..

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

basic rules in accounting ..

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

basic rules in accounting ..

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

basic rules in accounting ..

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

basic rules in accounting ..

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

basic rules in accounting ..

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

basic rules in accounting ..

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

basic rules in accounting ..

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

basic rules in accounting ..

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

basic rules in accounting ..

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

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