Interested to Buy Any Domain ? << Click Here >> for more details...
basic rules in accounting
- 10 Answers
- 19497 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 |
For More Questions In E&Y,Earnest and Young, Banglore Mail TO "tvsethu@gmail.com". i can Guid u.
Tell us something about Sinking Fund.
What do you mean by "Goods in Transit:
What is Depreciation and how is it different from amortization
5 Answers IBM, Thomson Reuters,
Short Answer on _________Cost Accounting
what is Functional Specification in SAP FICO?
My name is Tasha actually I had put my file for Australia PR on basis of Hairdresser, and I have shown my qualification of 10th passed, but I done my B.Com with Accountancy, and presently I am working as Accountant,Now I want to put up my file for Australia Student is it possible, and my age is 36 yrs, I had already given my IELTS (Academic) and I have scored 6 bands, but its period has been expired,please give me some answer what to do next.
Answered but misspelled pl correct EARNED BUT NOT RECEIVED (ANS.DEURCCA)
what is the meaning of prepaid insurance and outstanding salary? please explain with example.
what is the difference between speculation & investment?
i have need full detail of tds rules and forms submitted dovetails
please give me a last 10 years sbi clerk question and answer paper
Audit 
