Personal Account Rule:
Debit the receiver
Credit the giver
Real Account Rule:
Debit what comes in
Credit what goes out
Nominal Account Rule:
Debit all expenses and losses
Credit all incomes and gains
These are the golden rules of accounts.
According to double entry system for every debit there will be a credit.
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personal account
dr the receiver .
cr the giver
real account
dr what comes in.
cr what goes out.
nominal account
dr all expenses and losses
cr all incomes and gains.
dr=debit
cr=credit
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Vishwanath
Answered On : Jul 19th, 2011
Personal Account Rule:
Debit the receiver
Credit the giver
Real Account Rule:
Debit what comes in
Credit what goes out
Nominal Account Rule:
Debit all expenses and losses
Credit all incomes and gains
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shravanthi
Answered On : Aug 1st, 2011
Personal account-Debit the receiver
Credit the giver.
Nominal account- debit What comes in .
Credit what goes out.
Real account- Debit expenses & losses.
Credit all incomes & commissions
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Subhkant jha
Answered On : Aug 24th, 2011
Personal Account Rule:
Debit the receiver
Credit the giver
Real Account Rule:
Debit what comes in
Credit what goes out
Nominal Account Rule:
Debit all expenses and losses
Credit all incomes and gains
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monika
Answered On : Sep 1st, 2011
Personal A/C
-Debit is the receiver
-credit the giver
Real A/C
-Debit what comes in
-Credit what goes out
Nominal A/C
-Debit all expenses and losses
-Credit all income and gains
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pranjul
Answered On : Sep 6th, 2011
1. Credit what goes out
Debit what comes in.
2. Debit all expenses
Credit all incomes.
3. Debit the receiver
Credit the giver.
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Nkanyiso
Answered On : Sep 30th, 2011
For every debit there's a corresponding credit
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Deepesh K K
Answered On : Dec 20th, 2011
The Golden rule of accounting - "Anticipate no profit but provide for all possible losses"
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DAYALAN
Answered On : Jan 10th, 2012
Three Golden Rules
1) Real accounts ( Debit what comes in and credit what goes out)
2) Nominal Accounts (Debit all expenses and Credit all gains)
3) Personal Accounts ( Debit the Receiver and Credit the giver)
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Personal accounts : Debit the receiver Credit the giver
Ex : Ravi A/c, Balu A/c, Kishor A/c
Real accounts : Debit what comes in and Credit what goes out.
Ex : Bank A/c, Cash A/c, Machinary A/c.
Nominal accounts : Debit all expenses and losses Credit all incomes and gains.
Ex : Wages A/c, Salaries A/c , Sales A/c.
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vijay
Answered On : Apr 20th, 2012
Personal A/c : Debit the Receiver
Credit the Giver
Real A/c : What Comes in Debit
What Goes out Credit
Nominal A/c : Expenses & Losses are Debit
Incomes & Gains are Credit.
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Hemant Patil
Answered On : Apr 22nd, 2012
Personal A/c:
Dr the Receiver and Cr the Giver >> (Name of individuals, company country etc)
Impersonal A/c:
Real A/c:
De what comes in CR what goes out (furniture fixture (fixed assets))
Nominal A/c:
Dr the expenses and losses and Cr the income and gains
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