What are the 3 Basic Rules in Accounting.
Answer Posted / vemula sai kiran
This is universal question of accontancy to be known by
every accountant.
PERSONAL ACCOUNT:IT DEAL WITH PERSON AND ANY THING.(TRADING A/C)
DEBIT THE RECEIVER,..
CREDIT THE GIVER.
REAL ACCOUNT:IT DEALS WITH CASH,BANK,THINGS..etc(PROFIT AND
LOSS A/C)
DEBIT WHAT COMES IN,..
CREDIT WHAT GOES OUT
NOMINAL ACCOUNT:IT DEALS WITH EXPENSES, INCOME AND GAINS
FROM BUSSINESS.
DEBIT ALL EXPENSEN AND LOSSES,..
CREDIT ALL INCOMES AND GAINS.
Is This Answer Correct ? | 13 Yes | 0 No |
Post New Answer View All Answers
Apportion Rs 125000/- Nett loss among the partners A,B,C as per their sharing ratios 32%,16% and the balance to C. Pass journal entry
What is the treatment of Capital Work in Progress as per the International Accounting Standards.
How i pass the share holders capital entry in Tally? How to set this option in Tally?
What is the role oF Jr Financial Analyst ? And what are the General Questions Asked for this Profile For freshers ?
Expand RMP
Expand--------TOS
WHAT ARE EQUITY SECURITIES?
what are the content of purchase order?
write about an e-mail to manager seeking permission for leave
Short Answer on __________Leverage
Is WCT paid to be considered as overhead during costing in construction firm?
what is the frienge benefits tax?what is usefull?
what is account & what is finance
how u can control stock movments....like issuing raw materials receiving...in practical way..basically in ,y org we r using bin cards,barcodes etc but somehow need more concentration... help me frds..
How Can Pass Credit Limit Entry If We Take Limit Of BANK I Maintain Of Account In Tally.ERP9 Than We Create Bank Ledger of Which Under