Real account- Debit what comes in Credit what goes out Personal account-Debit the receiver and Credit the giver Nominal Account- Debit all expenses and lossed Crdite all incomes ang gains.. Source: CoolInterview.com
This is the bascial principle ofAccounts. Accounts are classified in to 3 catergories Namely 1. Personal A/c- Debit the receiver and credit the giver. Eg:Bank A/c. 2.Real Account- debit what comes in and credit what goes out. Eg. cash. 3.Nominal Account - Debit all expenses & losses. credit all income & gains. Eg. salary, commission received.
there are 3 golden rules in accounting. personal a/c: dr. the receiver and cr. the giver. real a/c: dr. what comes in and cr. what goes out. nominal a/c: dr. all expenses and losses and cr. all incomes and gains. Source: CoolInterview.com
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 expenses and loses Credit: All incomes and Gains Source: CoolInterview.com
1)Real a/c :debit what comes in ,credit what goes out 2)Nominal a/c:debit all expenses and losses and credit all income a.c gains 3)Personal a/c:debit is the receiver and credit is the receiver Source: CoolInterview.com
There are mainly three Golden rules of Accounts, 1.Personal a/c:Debit the receiver Credit the giver. Real a/c:Debit what comes comes in 2.Credit what goes out. Nominal a/c:Debit all expenses and losses Credit all income and gain.
Three golden rules personal a/c debit the receiver credit the giver real a/c debit what coms in credit what goes out nominal a/c debit all expenses and losses credit all gain and profit. Source: CoolInterview.com