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Explain "debit what comes in credit what goes out"
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Answer / sk
it is one of basi accounting priniciples. if we purchase
anything for cash.
the goods are coming inside and cash is going outside.
goods purchases a/c dr.
to cash a/c
| Is This Answer Correct ? | 156 Yes | 19 No |
This is the one of the Accounting rull of Golden rules of
Accouting
Real Account is nothing but " Debit what comes in Credit
what goes Out.
For exp: Land purchased
Entry: Land A/c Dr
To Cash A/c Cr
in this exp debit comes in means Land will come our company
Credit what goes out means Cash will go out of the company
| Is This Answer Correct ? | 113 Yes | 10 No |
Answer / sourabh singh
This is the defination of Real Account & parts of Golden
Rule where anything come it will debit & anything goes it
wll credit ie,
Furniture A/c ------------Dr
To Cash/BAnk
| Is This Answer Correct ? | 60 Yes | 7 No |
Answer / pramod yadav
This is the one of the Accounting rull of Golden rules of
Accouting
Real Account is nothing but " Debit what comes in Credit
what goes Out.
For exp: Land purchased
Entry: Vehicle A/c Dr
To Cash A/c Cr
in this exp debit comes in means Vehicle will come our company
Credit what goes out means Cash will go out of the company
| Is This Answer Correct ? | 7 Yes | 1 No |
Answer / upender. a
Ofcorse it is the rule of Real a/c.
that Debit What comes in & Credit What goes out.
Ex : if u purchased a furniture and paid Cash, then journal entry is:
Furniture A/c.__________ Dr
To Cash Ac.
Here u r getting the furniture (what comes in)
and u r paying the cash. (what goes out)
| Is This Answer Correct ? | 4 Yes | 0 No |
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