what are the golden rules of accountancy about debit and credit ??what r the rules of recognition of nature of any account type so as to solve questions related to journal entry???pls help guys!!!

GOLDEN RULES OF ACCOUNTING

                                   DEBIT                                         CREDIT

PERSONAL A/C     reciever                                          giver 

REAL A/C               what comes in                                what goes out 

NOMINAL A/C        All the expenses and losses      All the profits and income 

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golden rules of acount are:

1.presonala/c

  debit....the receive

  credit..... the giver

2. reala/c

  debit.... what comes in

  credit..... what goes out

3. nominal a/c

  debit ...all expenditure & losses

  credit..... allthe income & gains

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debit in and credit out it is the most basic rules of accounting

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yeah  debit  in  and credit out  is the golden rule.... there are  specific  rules  for  recognition  bit  we need to classify them in to assets and  liabilities then  for journal  entries we  must see whether the transaction  are         in  accounting  terms i.e,  real a/c ,perrsonal a/c , and nominal a/c....

the rules gosa  follows    4 asstor real a/c  

its            DEBIT WAT COMES IN AND CREDIT WAT GOES OUT 

PERSONAL A/C 

DEBIT THE RECIEVER CREDIT THE GIVER

NOMINAL A/C OR LIABILITIES  A/C

DEBIT EXPENSES AND LOSSES AND CREDIT ALL INCOMES AND GAINS

remember if u know one thing it  can  be debit or credit  u can just close ur eyes and write the other entry as debi or creditt

coz there wil be a debit and a credit entry in a transaction.......

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1. personal a/c.

debit the reciver

credit the giver

2.real a/c.

debit what comes in the business

credit what goes out from the business

3.nominal a/c.

debit all expenses and loss

credit all gains and income

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  There are three types of accounts

1.persosnal A/C.

2.Real A/C.

3.Nominal A/C

Personal A/C

Dr. Is Receiver

Cr. is Giver.

Real A/C

What's Come in Dr.

Whats's Goes out Cr.

Nominal A/C

All income is Dr.

All expenses is Cr.

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1)PERSONAL A/C

    *debit the receiver.

    *credit the giver.

 

2)REAL A/C

    *debit what comes in.

    *credit what goes out.

   

3)NOMINAL A/C

      *debit all xpences and losses.

      *credit all incomes and gains.

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personal a/c -  all names,  bank,  creditors,  debtors

nominal - expense, losses, discount allowed and received, revenue, income

real - all assets

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personal  A/C- dr. the reciever & cr. the giver

real A/C- dr. what comes in & cr. what goes out

nominal A/C- dr. the expenses & losses & cr. the income & gains

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for personal- debit the receiver and credit the giver.

for real- debit what comes in and credit what goes out

for nominal- debit all the expenses and losses and credit all incomes and gains.

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Suhas Keshav Bali

A) Personal Account:

1) Debit the receiver.

2) Credit the giver.

B) Real Account:

1) Debit what comes in.

2) Credit what goes out.

C) Nominal account :

1) debit all expences losses.

2) Credit all icomes gains.

Posted By Suhas K eshav Bali(Washim,Maharashtra).

Student(1.7.2007).Commerce.

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"GOLDEN RULES OF ACCOUNTING"

"DEBIT'","CREDIT".

A) PERSONAL A/C:

1) Debit the receiver.

2) Credit the giver.

B) REAL A/C:

1) Debit what comes in.

2) Credit what goes out.

C) NOMINAL A/C:

1) Debit all expences losses.

2) Credit all incomes gains.

Suhas Keshav Bali (Washim,Maharashtra).

Student (1.7.2007) Commerce.

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Golden rules of Accounting:

1. Personal a/c:- Debit the Reciever Credit the giver.For Eg: All names like bank,debtors , creditor etc.

2. Real a/c:- Debit What comes in Credit What goes out. For Eg:All assets like Machinary, furniture etc.

3.Nominal a/c or Liabilties a/c:- Debit all expenditure and losses, Credit all incomes and gains. For Eg:expences, losses, Discount allowed and recieved.

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There are 3 golden rules of accounting.

Real Accounting:Dr - what comes inCr - what goes outExample: Cash/Bank, RentPersonal Accounting:Debit is the receiverCredit is the giverExample: Vendor, CustomerNominal Accounting:all gains and income are creditall losses and expenses are DebitExample: Sales, Purchase

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There are 3 golden rules of accounting.

Real Accounting:Dr - what comes inCr - what goes outExample: Cash/Bank, RentPersonal Accounting:Debit is the receiverCredit is the giverExample: Vendor, CustomerNominal Accounting:all gains and income are creditall losses and expenses are DebitExample: Sales, Purchase

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golden rules of acount are:

1.presonala/c

debit....the receive

credit..... the giver

2. reala/c

debit.... what comes in

credit..... what goes out

3. nominal a/c

debit ...all expenditure losses

credit..... allthe income gains

Posted by Rakesh Kumar(student), on31.03.2014
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3 golden rules of accounts with examples

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dvfg

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On Going Consfet-ishka mujhe answer chahiye

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POSTED BY BISHAL JHA
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  1. Personal a/c : Debit the receiver
                      Credit the giver.

        2.  Real a/c : Debit what comes on
                            Credit what goes out.
        
        3.   Nominal a/c : Debit all Expenses & losses
                                    Credit all Incomes & Gain.
























 
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1. Personal a/c :?Debit the receiver? ? ? ? ? ? ? ? ? ? ? Credit the giver.

? ? ? ? 2. ?Real a/c : Debit what comes on
? ? ? ? ? ? ? ? ? ? ? ? ? ? Credit what goes out.
? ? ? ??
? ? ? ? 3. ? Nominal a/c : Debit all Expenses & losses
? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? Credit all Incomes & Gain.
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real account - dr what comes in and cr what goes out
personal account-dr the receiver and cr the giver
nominal account- dr all expenses and losses and cr all income and gain
 
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1 . Real account (things)
Debit what comes in , credit what goes out
2 . personal account (Name)
Debit the reciever , credit the giver
3 . Nominal account
Debit all expense and losses,
Credit all income and gains
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nai aavadtu
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Please find this answer

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Answer has given by many and all are correct but you are cute and if you have any more ques plz ask
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Golden rules of Accounts are:

1 . PERSONAL A/C

? debit....the receiver

? credit..... the giver

2. REAL A/C

? debit.... what comes in

? credit..... what goes out

3. NOMINAL A/C

? debit ...all expenditure & losses

? credit.....all income & gains.
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this the simplest rule to do journal entry if you have any query regarding this you can whats app me...
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for assets
debit all increase in assets 
credit all decrease in assets
for liabilities and capital
debit all decrease in liabilities and capital
credit all increase in liabilities and capital
nominal account
debit all expenses and losses
credit all incomes and gains
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personal account
.debit is the receiver
.credit is the giver
real a/c
.debit what comes in.
.credit what goes out
nominal a/c
.all expenses and losses are to be debited.
.all incomes and gains are to be credited.
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debit the receiver credit the giver

debit all expenses and losses credit all income and gains


debit what comes in credit what goes out
 
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golden rules of accounting are debit the reciever and credit the giver in peraonal account, debit all expenses and losses and credit the income and gains in nominal account and lastly it is debit what comes in credit what goes out for real account
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There are 3 golden rule of accountancy .they are as follows: 1.Debit -receiver Credit:-receiver 2.Debit:-what comes in Credit:-what goes out 3.Debit:-all expenses and losses Credit :-all incomes and gains
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View this fr d answer

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right answer
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REAL A/c
Dr. What comes in
Cr.what goes out

PERSONAL A/c
Dr. The receiver
Cr. The giver

NOMINAL A/c
Dr. All expense
Cr. All incomes
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1. personal a/c.

debit the reciver

credit the giver

2.real a/c.

debit what comes in the business

credit what goes out from the business

3.nominal a/c.

debit all expenses and loss

credit all gains and income
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What is the journal entry of started business with cash and furniture
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All asset and expense :when they are increase to Dr. and decrease to Cr.
All capital liabilities and revenu.:when they are increase to Cr. And decrease to Dr.
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Salary due to staff 25000. what is jounal entry
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PERSONAL A/C - DEBIT THE RECIVER CREDIT THE GIVER 
REAL A/C - DEBIT WHAT COMES IN AND CREDIT WHAT GOES OUT
NOMINAL A/C - DEBIT ALL EXPENSES AND LOSSES CREDIT ALL INCOMES AND GAINS
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1.  debit the receiver
     credit the giver
2.  debit what comes in
     credit what goes out
3   debit all expenses
     credit all incomes.
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for every debit entry there is a credit entry of same amount so that accounting equation is fulfilled
 
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Debit is received credit is giver
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Okay, let's see why they are called the "Golden Rule" of Accountancy. There are always two transactions, debit and credit, affecting To and By side of Accounts. Analogically speaking, "humankind cannot gain anything without first giving something in return, to obtain something, something of equal value must be lost" -FMA 

In short, the principle of accountancy is totally depended upon the relationship between what is given and what is received(debit and credit. Thus, GOLDEN FREAKING RULE!!

They are divided into three categories for the sake of convenience: 
Real Accounting:
Dr - What comes in
Cr - What goes out
Examples of this kind of transaction include cash/bank and rent.
Personal Accounting:
Debit is the receiver.
Credit is the giver.
An example of this kind of transaction is Vendor/Customer relations.

Nominal Accounting:
All gains and income are credit.
All losses and expenses are debit.
An example of this kind of transaction is sales and/or purchases.

Source Of Golden Rule Types: Youth4work.com

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Golden rules of accounts are:
1.Personal account .debit-the receiver
  credit-the giver..
2.Real account
Debit-what comes in
Credit-what goes out..
3.Nominal account
Debit-all expenses&losses
Credit-all income&gains
 
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1  debit the receiver
credit the giver 
2  debit what comes in
credit what goes out
3  debit all exp and losses
credit all income and gain
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NOMINAL ACCOUNT:-1) ALL EXPENSES AND LOSSES......DEBIT(DR.) 2)ALL INCOME AND GAINS ....CREDIT(CR.)

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NOMINAL ACCOUNT:- 1)ALL EXPENSES AND LOSSES.....DEBIT(DR.) 2)ALL INCOME AND GAINS .....CREDIT(CR.)

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You do not the golden rule
 
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gg
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Three types of a/c. (1)personal account = rule:debit the receiver,credit the giver . (2)Real account= rule :debit what comes in and credit what goes out. (3)nominal account= rule:All gains and income are credit and all losses and expenses are debit.
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Rules are

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golden rules of acount are:

1.presonala/c

? debit....the receive

? credit..... the giver

2. reala/c

? debit.... what comes in

? credit..... what goes out

3. nominal a/c

? debit ...all expenditure & losses

? credit..... allthe income & gains

By.Sonu Garg
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There are three types of golden rules :
1. Personal Account
2. Real Account
3.Nominal Account

1. Personal Account :
"Debit the receiver, credit the giver."
Explaination : This account is usually for individuals. For Example : Ram Company, corporate body, instructions, statutory body, etc.

2.Real Account :
"Debit what comes in, Credit what goes out."
It includes all assets !! For example : Land, Building, Cash, Machinery, Copy rights, patents, Futniture, etc.

3.Nominal Account
"Debit all expense and losses, Credit all incomes and gains."
It includes all expenses and losses, it also includes incomes and gains.



Explaination given by Vijay Yadav.
Contact : 8108052827


3.
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the golden rules are debit the reciever. credit the giver. debit what comes in. credit what goes out. all profit are credit. all expenses and losses are debiy. thanks .
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For persinal a/c
Recevier always dr
Giver aleays cr
For real a/c
What comes in dr
What goes out cr
For nominal a/c
Expenses always dr
Income always cr
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Personal acc-. Debit the reciever
Credit the giver

Real accounts - Dr what come in
Credit what goes out


Nominal account - Dr all expenses nd losses
Credit all incomes and gains
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Please find this answer

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What is a journal intery

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1-Debit the receiver credit the giver , 2- Debit what comes in and credit what goes out,3- Debit all the expenses and losses or credit all the gain and profit ok.
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Personal A/C = Dr.=the receiver and Cr.=the giver, it means what we recive such as goods , cash etc. Real A/C= Dr.=what we recive and Cr.= what goes out . Nominal A/C=Dr.=all expenses and losses and Cr.= all incomes and gains.
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GOLDEN RULES

Debit what comes in;
Credit what goes out.

Debit the receiver;
Credit the giver.

Debit all expenses and losses;
Credit all incomes and gains.
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Personal a/c - Debit the receiver & credit the giver . For real a/c _ Debit what comes in & credit what goes out .Nd for Nominal a/c _ Debit All the expenses And losses & Credit all the Incomes And profits.
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golden rules of acount are:
1.presonala/c
? debit....the receive
? credit..... the giver
2. reala/c
? debit.... what comes in
? credit..... what goes out
3. nominal a/c
? debit ...all expenditure & losses
? credit..... allthe income & gains
  • 2
golden rules of acount are:

1.presonala/c

? debit....the receive

? credit..... the giver

2. reala/c

? debit.... what comes in

? credit..... what goes out

3. nominal a/c

? debit ...all expenditure & losses

? credit..... allthe income & gains
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Golden rules for accounting are:

1.personal A/c
.....debit the receiver nd credit tje giver
2.Real A/C
.....debit what comes in nd credit what goes out
3.Nominal A/C
......debit all expences nd losses ..nd credit all incomes nd gains
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before to know the accounting rule all ...u have to clear what is assets and liab and income, gains, expenses and losses .......my golden rules of debit and credit are as follows....1) all assets/expenses/losses ....increse hongi toh debit decrease hongi toh credit....... 2) all liability/income/gains increse hogi toh credit decrese hogi toh debit
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Aab thik h lo answer

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Please find this answer

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Chart shows the rules of debit and credit

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Comes in debit goes out credit
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GolDen rules

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Golden rule of accounting debit(Dr.) And credit(Cr.)
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Please see answer below
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Please find this answer

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Debit is what comes in (Dr.)
And Credit is what goes out(cr.)
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Please find this answer

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1-All assets Dr .
2-All liabilities Cr.
3- All expenses Dr
4-All income Cr
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Journal is art of recording the transactions in the business. It's very difficult for business man to record the all the transactions that takes place in one year. So journal is very important after journal there is summarising, classifying interpreting the result.
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Golden rule no. 1 personal account (debit the reciver credit the giver) Golden rule no. 2 Real account (Debit what comes in credit what goes out) Golden rule no. 3 Nominal account (Debit all expenses and loses credit all incomes and gains)
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3 GOLDEN RULES

PERSONAL - DEBIT THE RECEIVER CREDIT THE GIVER
eg - When business receives any sum it is debited and vice versa

REAL - DEBIT WHAT COMES IN CREDIT WHAT GOES OUT
eg - When you buy a table - table comes in to business and cash goes out from your business

NOMINAL - DEBIT ALL EXPENSES AND LOSSES AND CREDIT ALL INCOMES AND GAINS
eg - When you pay Conveyance fee it is debited or when you receive any fee it is credited
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Elimation method
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Hope you will understand!!

Regards
Lakshay Goyal

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Real(assets except debtor,bank) ,
personal(people),
representative(group of people)
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Please find this answer

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Please find this answer

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Debit the receiver, credit the giver.
Debit what comes in, credit what goes out.
Debit all expenses & losses, credit all profit & gain.
These are the golden rules dear.. And yes these are applied for the situation that depicts them.
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Debit:
1. The receiver
2. What comes in
3. Expenses
Credit:
1. The giver
2. What goes out
3. Incomes
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? Rule of debit and credit -
Debit the receiver , credit the giver .

? Rule of debit and credit -
debit what comes in, Credit
what goes out.

? Rule of debit and credit -
Debit all expenses and losses , Credit
all incomes and gains .
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Please find this answer

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Please find this answer

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Bakvas
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Plz tell me what exactly u want.....so that I can help u
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