Interested to Buy Any Domain ? << Click Here >> for more details...
what are the golden principle of accounting?
- 10 Answers
- 20611 Views
- Bank Of America, Capital IQ, Genpact, Jenpac, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / vinay
Golden Principles of Accounting :
Personal A/c : Debit the receiver and credit the giver.
Real A/c : Debit what comes in credit what goes out
Nominal A/c : Debit all expenses and losses credit all
incomes and gains .
| Is This Answer Correct ? | 107 Yes | 2 No |
Answer / shravan singh
there are three type of accounting they are
1.personal account.
debit the reciver.
credit the giver.
2.real account.
debit whats come in.
credit whats goes out.
3.nominal account.
debit all expenses and losses.
credit all income and gains.
| Is This Answer Correct ? | 37 Yes | 1 No |
Personal Accounts
Debit The Receiver
Credit The Giver
Nominal Accounts
Debit Expenses and Losses
Credit Incomes and Gains
Real Accounts
Debit What Comes In
Credit What Goes out
| Is This Answer Correct ? | 21 Yes | 1 No |
Answer / r.sumithra devi
THERE ARE TWO TYPES OF ACCOUNTING RULES AS FOLLOWS:
1)PERSONAL ACCOUNTS
2)IMPERSONAL ACCOUNTS
IMPERSONAL ACCOUNTS AGAIN DIVIDED INTO TWO TYPES THEY ARE
AS FOLLOWS:
1)REAL ACCOUNTS
2)NOMINAL ACCOUNTS
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 & GAINS
| Is This Answer Correct ? | 22 Yes | 6 No |
Answer / anjali
1. Real A/C - Debit what comes in and Credit what goes out
2. Personal A/C - Debit the receiver and Credit the giver
3. Nominal A/C - Debit all expenses and losses, Credit all incomes and gains.
| Is This Answer Correct ? | 5 Yes | 0 No |
Answer / maikulal
if personal a/c incresed than credit
if personal a/c decreas than debit
if real a/c incresed than debit
if real a/c decreas than credit
if nominal a/c incresed than credit
if nominal a/c decreas than debit.
| Is This Answer Correct ? | 23 Yes | 22 No |
Answer / rahul chauhan
Person A/C - Debit the Reviver AND Credit the Giver
Real A/c - Debit whats come in AND Credit whats Goes Out
Nominal A/c - Debit all expenses and Loses And Credit all Profit and Gain.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / narayan
1, personal accounts
2, real accounts
3 nominal accounts
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / narendra rastogi
if personal a/c incresed than credit
if personal a/c decreas than debit
| Is This Answer Correct ? | 3 Yes | 11 No |
What is the process of VAT & CST Registration?
what is your achievements?
What is MIS Report? How do you make MIS Report?
TDS ENTRIES IN THE HANDS OF PAYER & PAYEE
What is AR, AP, what transctions comes under this.
what standing order and what is debit note
what is shadow balance?
1 Answers BOB Technologies, Reliance,
EXPAND______________ONGC
what is daily accrual?
expand N A V
I customized the tax procedures, after posting normal g&l (f-02), i got an error, error is complete lineitem display, its popup error message num, how can i find the message error, whats the t-code
Kindly solve the following problem. Financial accounting. 1. Bheema does not maintain his book in the double entry system . His books showed following facts. Receipts for the year ended 31.12.2007 from sundry Debtors 17625.00 Cash sales 4125.00 paid by bheema (proprietor) 2500.00 total 24250.00 payments made for the year ended 31.02.2007 new machinery purchased 625.00 drawings 1500.00 wages 6725.00 salaries 1125.00 interestpaid 75.00 telephone 125.00 Rent 1200.00 lighting 475.00 sundry expenses 2125.00 sundry creditors 7625.00 total 21600.00 Assets and Liabilities As on 31.12.2006 As at 31.12.2007 sundry creditors 2525.00 2400.00 sundry Debtors 3750.00 6125.00 Bank 625.00 ? stock 6250.00 3125.00 plant 7500.00 7315.00 from the Above data , prepare TRADING A/C, PROFFIT & LOSS A/C for the year ended 31st december 2007 and the BALANCE SHEET as on on that date. Kindly solve the problem
Audit 
