what is three accounting rule?
Answers were Sorted based on User's Feedback
Answer / sumancwa
These 3 principles are called Golden Principles of Accounting.
1. PERSONAL ACCOUNT:
Debit the Receiver and Credit the Giver.
2. REAL ACCOUNT:
Debit what come In and Credit What Goes Out.
3. NOMINAL ACCOUNT:
Debit the Expenses and Losses and Credit the Gains
and Profits
Is This Answer Correct ? | 32 Yes | 0 No |
Answer / mandar bose
1)Debit all expenses & losses, credit all income & gains
2)Debit what comes in , credit what goes out
3)Debit the receiver , credit the giver
Is This Answer Correct ? | 20 Yes | 2 No |
Answer / sirajudeen. m
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 and gains
Is This Answer Correct ? | 14 Yes | 0 No |
Answer / pankaj sharma
PERSONAL ACCOUNT:
debit the receiver
credit the giver
Nominal account
---------------
debit all expenses and losses
credit all incomes and gains
REAL ACCOUNT:
Debit what come In and Credit What Goes Out
Is This Answer Correct ? | 8 Yes | 0 No |
Answer / s.tamil selvan
GOLDEN ACCOUNTING RULES:
PERSONAL ACCOUNT:
Debit the Receiver
credit the giver
REAL ACCOUNT:
Debit what comes in
Credit what goes out
NOMINAL ACCOUNT
Debit all expenses and loses
Credit and incomes and gains
Is This Answer Correct ? | 3 Yes | 0 No |
Answer / swathi
Accounts is classified into 3 rules
Debit Credit
-------- --------
Personal Account: Receiver Giver
Real Account : What comes in What goes out
Nominal Account : All expenses and All incomes and
losses gains
Is This Answer Correct ? | 2 Yes | 1 No |
what's down payment method please axplain in detail
Is the premium amount included in the subscribed capital of the company.
What is Holding co.
A prouduct passed through three stage of the production and product for each stage become the raw material for the new stage further raw material on also added at each stage . During the march 2000, 1000 unit of finishied prouduction produced with following expenditure. A B C material 10000 8000 4000 labour 8000 12000 6000 on cost 5000 4000 2000 inculuded expenses amount to 5200 and to be allocated on the bassis of labour main raw material issue to stage A was worth rs 6400\- prepare the procesing cost account with unit each stage and total cost finishied product the final stage.
what is three accounting rule?
when is the last date for filling of tds 4 th quarter
what is the difference between holding company and parent company
what is meant by search report of the company n why is it prepared?
How do you annalyse the Goodwill value of the Company ?? does the net worth value is the same as Goodwill value or wht ??
Treatment of P&L A/c balance(either profit or loss)??
what is the difference between public company and private company
Is it possible to list only a portion of Equity Shares leaving the balance as unlisted?