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Golden rules of accounting
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Answer Posted / ashish tandon
+ - balance
Assets Debit Credit Debit
Liabilities Credit Debit Credit
income Credit Debit Credit
Exp Debit Credit Debit
it,s not the golden rule but it will help u to make Joutnal
Entries.
Example-
Purchase Bulding for cash -150000
in the case of purchasing of Bulding the the value of
bulding(Fixed Assets) will increase by 150000 so bulding
will be debited and cash(Current Assets) will goes out than
cash will be credited.
The entry will be
Bulding Dr
To Cash
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