235 Answers
235 Answers
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There are three types of accounts: Real Account Personal Account Nominal Account A Real Account is a general ledger account relating to Assets and Liabilities other than people accounts. These are accounts that don’t close at year end and are carried forward. A Personal account is a General ledger account connected to all persons like individuals, firms and associations. A Nominal account is a General ledger account pertaining to all income, expenses, losses and gains.Modal content
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For Personal account account- Debit the receiver Credit the giver Nominal account- debit all expense and losses credit all incomes and gains Real account- Debit whats come in Credit what goes outModal content
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Real Account :- Debit what comes in the business. Credit what goes out from the business. Personal account :- Debit the receiver Credit the giver Nominal account:- Debit the expense or loss of the business. Credit the income or gain of the business.Modal content
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1) Personal Account
2) Real Account
3) Nominal AccountModal content
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Personal account- debit the receiver& credit the Giver Impersonal real account - debit what comes in& credit what Goes out Nominal account-debit all expenses and losses & credit all income and GainsModal content
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Debit the receiver credit the giver Debit what come in credit what goes out Debit all the expenses and loses credit all the income and gainsModal content
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Real account: debit what comes in credit what goes out. Personal account: debit the receiver credit the giver. Nominal account: debit all expenses and losses credit all incomes and gains.Modal content
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Dr what comes in cr were goes out Dr all expenses cr all income or gains Dr the receiver cr the giverModal content
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Debit receiver and credit giver. Debit what comes in and credit what goes ouy Debit ecp, and crefit incomeModal content
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1.Debit whats come in Credit what goes out 2. Debit the reciever Credit the giver 3. All the loss and expenses are debit All the profit and gain are creditModal content
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Personal account: debit the receiver. credit the giver. Real account: debit what comes in. credit what goes out. Nominal account: debit all expenses&losses. credit all incomes&gains.Modal content
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ANS- Debit what come in, Credit what goes out (Personal account) Debit the receiver, Credit the giver (Personal Account) All gains and income are credit, All losses and expenses are debit (Nominal Account)Modal content
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Personal account=Dr.thereceiver and cr the giver Real acc= Debit what comes in and credit what goes out. Nominal acc = debit all expenses and loses and credit all income and gainsModal content
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Three golden rules of accounting: 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 gainsModal content
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1. Dr the Receiver and Cr the Giver. 2. Dr what comes in Cr what goes out. 3. Dr all expenses and losses and Cr all income and gainModal content
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Debit the Receiver & Credit the Giver Debit what Comes In & Credit what Goes out Debit all Expenses and Losses & Credit all Income and Gains. JUST A SIMPAL QUETION FOR MEModal content
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1. Debit the receiver, Credit the giver 2. Debit what comes in, Credit what goes out 3. Debit the expenses, Credit the incomeModal content
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Debit what come in credit what goes out Debit the receiver credit the giver Debit all expenses credit all gainModal content
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1. PERSONAL ACCOUNT: DEBIT THE RECEIVER, CREDIT THE GIVER 2. REAL ACCOUNT: DEBIT WHAT COMES IN, CREDIT WHATS GO OUT 3. NOMINAL ACCOUNT: DEBIT EXPENSES AND LOSSES, CREDIT INCOMES AND GAINSModal content
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Personal : Debit the receiver, Credit the giver Real: Debit what comes in, Credit what goes out Nominal: Debit all expenses and losses, Credit all Income and gainsModal content
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