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

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

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

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

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

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

financial statement of company sales(1,00,000 units @ Rs.10/-) 10,00,000 Variable costs 5,00,000 Contribution 5,00,000 Fixed costs 3,00,000 Net profit 2,00,000 p/v ratio 50% BEP 6,00,000 Margin of safety ratio 4,00,000 If the price increases by 10% what shall be the new p/v ratio and BEP? If the price increases by 10% is accompanied by a reduction in volume by 12%,what shall be the effect on BEPand profit?

1 Answers  

What are the main differences between corporate debt and equity? Why do some firms try to issue equity in the guise of debt?

8 Answers   Pepsi,

analyses of Cost control

0 Answers  

can a shareholder or promoters waive his or their right for dividend ? if yes then how and when before or after book closure or in the AGM ? what will be its treatment in accounts?should any provision be there in the Articals of Company for that?

2 Answers  

how to solve the problem of sechdule date problem in sap proframme.

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How does a bank or financial institution calculate COGS? What are the 'direct' costs of a loan or deposit revenue operation?

0 Answers   JP Group,

Is the premium amount included in the subscribed capital of the company.

3 Answers  

where will be effect the amount of depreciation in company final account? If it will effect in P&L A/c & Balance Sheet also than will amount be same in both sheet?

11 Answers   Global Automation, IBM,

Income Tax Department sends cheque for INR 2 Crore as Refund after completion of Assessment for A.Y.2011 - 2012 to a Company. As per IT Return filed for this year I.T. due to Government was INR 60 Lac but was assessed at INR 70 Lac. TDS due to Company was INR 3 Crore which was admitted as INR 2.7 Crore by Government. Government also adjusts Tax dues for A.Y. 2009 - 2010 of INR 40 Lac which was disputed earlier by the Company and Appeal was lying with the CIT. Government pays Interest to the Company amounting to INR 40 Lac. Provision for Income Tax made by the Company in its accounts for F.Y. 2010 - 2011 (A.Y. 2011 - 2012) was INR 50 Lac. What would be the Journal Entry at the time of receipt of Refund of INR 2 Crore from the Government in A.Y. 2014 - 2015 in the books of the Company?

0 Answers  

when will be appsc exams will held pls give me the dates

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My Question is how do we distribute profit in pvt ltd, btwn directors and share holders...the pvt ltd is unregistered.

2 Answers  

If you have a charitable company, limited by guarantee, and a trading subsidiary, which is also a company, how do you consolidate the accounts?

1 Answers