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Golden rule of accounts

What is golden rule of accounts
Asked by: akki.jagani | Member Since Jun-2008 | Asked on: Jun 19th, 2008

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Sweete

Answered On : Jun 20th, 2008

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Personal Account Rule:Debit the receiver Credit the giverReal Account Rule:Debit what comes in Credit what goes outNominal Account Rule:Debit all expenses and lossesCredit all incomes and gainsThese are the golden rules of accounts.According to double entry system for every debit there will be a credit.

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Personal accountdr the receiver .cr the giverreal accountdr what comes in.cr what goes out.nominal accountdr all expenses and lossescr all incomes and gains.dr=debitcr=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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gns.ravi

Answered On : Apr 10th, 2012

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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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mani.c

Answered On : Aug 29th, 2013

Real Account:
Debit comes in
Credit goes out


Personal Account:
Debit is Giver
Credit is receiver

nominal Account:
Debit was all losses and Exp
Credit was All profit And gain

  
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Ram Sudhakar

Answered On : Dec 19th, 2013

Hi
PERSONAL AC- DEBIT THE RECEIVER AND CREDIT THE GIVER
NOMINAL AC - DEBIT ALL EXP AND LOSSES AND CREDIT ALL INCOME AND GAINS
REAL AC - WHAT COMES IN DEBIT AND WHAT GOES OUT IN CREDIT

  
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