Interested to Buy Any Domain ? << Click Here >> for more details...
Examples each for golden rules of accounting
- 31 Answers
- 200153 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
What is the logic behind this entry P & L Appropriation A/c ..........Dr. To Provision for income tax A/c
What is use of subject history in banking?
Where do we show "Dividend paid in FFS ,either in FFO or in FFS? what is teh concept behind?
What is normative accounting?
What is an Automatic Payment Program ?
wat is mass allocation and when it is used
what TYPE OF INVOICE SHOULD RAISE TO C&F agent ?
Dear sir/madam, Want to know entry for closing of sundry creditors account on the end of the year when its accounts shows debit balance, Payment made excess. E.g Invoice rcvd : 100000.00 from XYZ company payment Made: 105000.00 Please suggest best entry for the same
Company XYZ split 5:1 on June 30, 2008. Date Close Price # of Shares Revised Closed Price Revised # of Shares June 15, 2009 $75.00 5,000 $75.00 5000 April 23, 2009 $72.00 7,500 $72.00 7500 March 31, 2009 $67.00 135 $67.00 135 March 31, 2008 $275.00 531 $55 2755 November 30, 2007 $233.00 266 $46.6 1330 October 6, 2006 $1,333.00 10 $266 50
What is accounting ethics?
purchase plant and machinery
How to pass workscontract sale invoice which includes WCT & VAT.
salary entry with briefly including pf,esi,employee advances -journal entry with against payment entry
Tell me what is the difference between accumulated depreciation and depreciation expense?
I have deducted Notice pay Rs. 5000/- in which account to be booked the same enty, what is the head for notice pay in profit and loss a/c.
