what is basic accounts rule?
Answer Posted / nisar i. sida
Firstly Acconts have two types ;-
1. Personal Acconts
2. Impersonal Accounts ( Real A\cs & Nominal A\Cs )
The three Rule of Debit & Credit are :---------
1. Personal Account - Dr. the Reciever
Cr. the Giver
2. Real Account - Dr. What Comes in
Cr. What Goes Out
3. Nominal Accont - Dr. all Expenses & Losses
Cr. all Profits & Gains.
Is This Answer Correct ? | 6 Yes | 0 No |
Post New Answer View All Answers
Expand BFSI
Office cash was stolen? state whether the following transcation is business transcation or non business transcation?
Explain why retained earnings have an opportunity cost associated?
can you define exogenity endogenity both terms are from economics both are different from exogenous & endogenous variables. I can not find the answers. please help if you can....
what is corporate accounting?
how a fund flow statement benefit the individual, corporate?
Indian Iran Gas pipeline
I have a existing Oracle applicttions and need to bring one of the new business on it. The new business will use GL, AP and FA. We will use existing COA. This business will have 3 sets of books (1- tax book, from April to March; 2- Primary book, from July to June; 3- Reporting book, from July to June); All books will have same currency; HOW DO I TRANSFER DATA FROM PRIMARY BOOK INTO TAX AND REPORTING BOOKS EVERY MONTH OR ON WEEKLY? IS THERE ANY STANDARD ORACLE PROCESS WHICH CAN BE SCHEDULED? THE REPORTING BOOK WILL HAVE DIFFERENT DEPRECIATION METHOD SO HOW DO I NOT TRANSFER DEPRECIATION FROM PRIMARY TO REPORTING BOOK AND DO SEPERATE DEPRECIATION IN REPORTING BOOK FOR THE SAME ASSET THAT IS ALSO IN PRIMARY AND TAX BOOK?. HOW DO I APPROACH ON SETTING THESE NEW SETS OF BOOKS? Thanks, KK
how to entery pass in tally when items damage(items insured)and claim to insurance co.
What are the duties of sales tax department? Explain it
Is TDS applicable to Voice Over IP(VOIP) service to an India VOIP service provider? please provide the related acts and case studies.
What is the procedure to become charted accountant in India now. Please answer this is urgent
I've just started to work as an accounts executive and intending to take up SAP. Can anyone tell me what are the preparations required for me as an accountant to be a successful SAP consultant.
HOW CALCULATE ADVANCE TAX ? PLEASE EXPLAIN IT ?IN CASE OF FIRM, IF WE PAID FIRST INSTALMENT OF ADVANCE TAX.
difference between contra entry and double entry?