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Golden rules of accounting
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Answer Posted / arjun johra
REAL A/C: DEBIT WHAT COMES IN
CREDIT WHAT GOES OUT
PEROSNAL A/C: DEBIT IS RECEIVER
CREDIT IS GIVER
NOMINAL A/C: DEBIT IS ALL EXP AND LOSSES
CREDIT IS GANINS AND INCOMES
In one trasaction statement, there are two a/c will be
involved Ex: X person has deposited Rs. 10000 to HDFC Bank
Rs.10000 is Credit( going out)( Real a/c) and HDFC Bank is
debit is receiver ( Personal a/c)
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