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Golden rules of accounting
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Answer Posted / prabakaran
PERSONAL A/C : debit the receiver
credit the giver
Nominal A/C :debit the all expenses and losses
credit the all income and gain
REAL A/C : debit what comes in
credit what goes out
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Q13. Journalise the following transactions: Proprietor withdrew for private use Rs.4000/- from bank and 6000/- cash. Goods Costing Rs.5000 was burnt by fire. Purchase Machinery for cash Rs.150000/- and paid Rs.2000/- on its Installation. Charge 5% Depreciation on building costing Rs.200000/- and 8% Depreciation on Furniture costing Rs.5000/-. Prepaid Salary Rs2000/- Kapil who owed us Rs20000/- become insolvent and nothing is received from his estate.
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Expand---------MRDT
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EXPAND___________NBW
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