Interested to Buy Any Domain ? << Click Here >> for more details...
Examples each for golden rules of accounting
- 31 Answers
- 201055 Views
- ABC, Accenture, BSNL, DELL, General Insurance Corporation, Genpact, IBM, Microsoft, Wipro, I also Faced
- E-Mail Answers
Answer Posted / peyus
1) PERSONAL ACCOUNT
DEBIT THE RECEIVER (S.Creditor, Party)
CREDIT THE GIVER (Cash or Bank)
2) REAL ACCOUNT
DEBIT WHAT COMES IN - (Cash/Cheque, Purchases, Receipts)
CREDIT WHAT GOES OUT - (Payments, Cash/Cheque, Sales)
3) NOMINAL ACCOUNT
DEBIT ALL EXPENSE AND LOSS -(Salary,commission,rent,etc)
CREDIT ALL INCOME AND GAINS - (Interest recieved,
commission received, royalty received, etc)
| Is This Answer Correct ? | 343 Yes | 29 No |
Post New Answer View All Answers
how many types of currencies are there in oracle r12
adjustment entry showing in tally such as outstanding salary prepaid salary etc.
what are the direct expense of loan department in banks.
Pls let me know Job profile for Account Manager.
Do you know what is double-entry accounting? Explain with an example?
What are the two most important Factor that should be kept in mind when there is a buy back of shares in companies as per indian companies act,1956
sir, i want t know, i got a cheque frm sindhu (that amount i gave her as rent advance, she is returning nw) bt the cheque has cancled and bank take cheque return charges so plz give this journal entries.
Wat entry ill come after paying the Cen -Excise Tax Vat Tax and Service Tax in the same time
what is the enty for contract bill raised?
What is "deposit in transit"?
Define retail banking?
List out some of the examples for liability accounts?
why assets are shown at their historical cost price but not at their current price bcoz we are following historical cost concept. but this will not reveal correct financial position of the business.give reason
which chart of depreciation copy for our Indian companies in sap(fi-aa)? please give answer. Thanking you, mohan
Explain accounting 101?
