what is the golden rules of accountancy ?withdrwal frm atm
what will be the transaction ?
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Answer Posted / manisha ashish salvi
3 Golden Rules of accountancy as below :
1) Personal Rule
Debit the receiver
Credit the Giver
2) Real Rule
Debit what comes in
Credit what goes out
3) Nominal Rule
Debit the Expenses & Losses
Credit the Incomes & Gains
&
Withdrawal from Atm means same transaction as cash withdraw
from bank , the transaction as follows:
Dr. Cash A/c
Cr.Bank A/c
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