UrbanPro
Login Ask & Answer Success Stories Paid Courses Free Classes Tuition & Classes Fees Write a Review All Categories Help Center
Post your Learning Need Signup as a Tutor
✕

Popular Cities

Bangalore

Hyderabad

Delhi

Mumbai

Chennai

Pune

Kolkata

Gurgaon

Ahmedabad

Jaipur

Noida

✕

Take BCom Tuition from the Best Tutors

  • Affordable fees
  • 1-1 or Group class
  • Flexible Timings
  • Verified Tutors

Book a Free Demo

BCom Tuition > Learn BCom Tuition > What are debits and credits?
✕

Search in

What are debits and credits?

Asked by Last Modified  

7 Answers

Learn BCom Tuition

Follow 0
Answer

Please enter your answer

Will provide teaching on real time scenario on sap fico with all kind of projects.

In order to understand the debit and credit. U should keep the golden roles in mind. Personal a.c- debit is receiver and credit is giver. Real a.c- debit want comes in and credit what goes out And nominal a.c- debit is all expenses and credit is all ur income
Comments
Dislike Bookmark

MBA(Finance)

Debit what comes in Credit what goes out Dr the receiver Cr the giver Dr are all expenses and losses Cr are all gain and income
Comments
Dislike Bookmark

Tutor with Banking and Accountancy experience of 35 years

There are two types of accounting. One by adapting the principles of double entry ie called double entry system of book keeping. 2. other modes, whatever maybe, is termed as single entry system of book keeping. Under double entry, there are two aspects for a transaction. They are debits and credits....
read more
There are two types of accounting. One by adapting the principles of double entry ie called double entry system of book keeping. 2. other modes, whatever maybe, is termed as single entry system of book keeping. Under double entry, there are two aspects for a transaction. They are debits and credits. All the Expenses and assets are debited and all incomes and liabilities are credited read less
Comments
Dislike Bookmark

In double entry book keeping system, Debit (DR) and Credit (CR) have important roles to journalize the transactions. For Every debit, there must be equal amount of credit for balancing. The Golden Rules classifies the account in to 3 type and signifies the rules for debit and credit. 1) Personal...
read more
In double entry book keeping system, Debit (DR) and Credit (CR) have important roles to journalize the transactions. For Every debit, there must be equal amount of credit for balancing. The Golden Rules classifies the account in to 3 type and signifies the rules for debit and credit. 1) Personal Account ; 2) Real Account; 3) Nominal Account Rule For Personal Account- Debit the receiver and Credit the Giver Rule for Real account- Debit what comes in and Credit What goes out Rule for Nominal Account- Debit all Expenses / Losses and Credit all Incomes / Gains. The double entry accounting system also prevails the accounting equation, Asset = Liability + Equity The criteria for Debit and Credits are applicable for all elements in the accounting equation mentioned below. Asset- Increases (Debit) | Decreases (Credit) Liability- Increases (Credit) | Decreases (Debit) Equity- Increases (Credit) | Decreases (Debit) Note:The Net profit or portion of net profit always increases the values of Equity and at the same time Net Loses or Portion of Net Losses decreases the value of Equity Profit = Income - Expenses Losses = Expenses - income Therefore, increase in Income and Decrease in Expense are always Credit and Decrease in Income and Increase in Expense are always Debit. read less
Comments
Dislike Bookmark

Professor

The Financial transaction of the business entity is divided into debit or credit transaction. Every transaction will have 'debit as well as credit transaction as per double entry system of book-keeping'. THE GOLDEN RULES OF DEBITS AND CREDITS ARE: 1. Personal a/c : Debit the receiver and ...
read more
The Financial transaction of the business entity is divided into debit or credit transaction. Every transaction will have 'debit as well as credit transaction as per double entry system of book-keeping'. THE GOLDEN RULES OF DEBITS AND CREDITS ARE: 1. Personal a/c : Debit the receiver and Credit the giver 2. Real a/c : Debit what comes in and Credit what goes out the entity 3. Nominal a/c : Debit all expenses and losses, and Credit all incomes and gains. read less
Comments
Dislike Bookmark

Business doubts

goldan rule is debit whats come in and credit whats goes out
Comments
Dislike Bookmark

Assistant professor

Debit and credit are the effect which we give the transaction in case of accounting transaction which is differ and based on the nature of transaction
Comments
Dislike Bookmark

View 5 more Answers

Related Questions

I teach accounts from class 11th to 12th and all three years of B.Com in jaipur interested students can contact
Hi Kavithayini, To begin with Appologies to both of you for breaking in between your conversation. Well I do take online classes let me know if I can be of any help to you. @Mr.Nitshill Thank you for your question.?? Regards, Vishal Jain
Nitesh
0 0
6
How can I complete a B.Com degree after 26 years?
Why not? Education is through will and determination, you have it all, no need to worry. Feel the feeling of success, after completing BCom. In case you have time, best will be full time degree course...
Sumit
0 0
7
How can I find some best BCom tuition classes in my locality?
Check with the senior students who already appeared the examination.
Vikas
Can a biology student do a BCom after 12th?
Not at all good
Ramala
0 0
9

Hello I have completed my ITI fitter. After this can I do B.com?
For admission in B.Com basic eligibility is 12th or Diploma.
Francis

Now ask question in any of the 1000+ Categories, and get Answers from Tutors and Trainers on UrbanPro.com

Ask a Question

Related Lessons

Accountable Transaction
Every business is required to record the economic transactions that are financial. There.is remarkable variation between trade and financial transactions. Business transaction can be of non-financial too....

Vijayakumar V.

0 0
0
Incorporation of a Company
What are the four stages of formation of a company? There are four stages in the formation of a company: STAGE I- Promotion of a company STAGE II- Registration and incorporation of a company STAGE...
F

FR Prashanth Reddy

Is accountancy science and art? Explain ?
Is accountancy science and art?:--Accountancy plays a very important role in these days of growing commercial and trade. Frequently various laws and Acts like—Company’s Act, M.R.T.P. Act are...
K

Kousiki Chakraborty

1 0
0
Securities Premium Sec. 52 Of CA, 2013
Meaning: Issue of share/debenture at a price more than the face value The premium amount is credited to separate account called ‘Securities Premium Account It is not forming part of share capital/debenture The...
F

FR Prashanth Reddy

4 0
0
Why one should Invest in Equity in Stock Market
An analysis of various assets shows that equity shares have given the best returns during periods of high inflation, albeit with higher volatility. Stocks have returned 19% a year, followed by bonds (8.8%)...

Rabindra K.

0 0
0

Recommended Articles

6 Exam Hall Tips To Follow, For Every Good Student

Appearing for exams could be stressful for students. Even though they might have prepared well, they could suffer from anxiety, tension etc. These are not good for their health and mind. However, following a few exam preparation tips can save them from all these and help them to score good marks. Let’s find out all...

Read full article >

Science, Arts Or Commerce - Which One To Go For?

Once over with the tenth board exams, a heavy percentage of students remain confused between the three academic streams they have to choose from - science, arts or commerce. Some are confident enough to take a call on this much in advance. But there is no worry if as a student you take time to make choice between - science,...

Read full article >

How To Choose The Right School For Children?

Quality education does not only help children to get a successful career and life, but it also hugely contributes to society. The formal education of every child starts from school. Although there are numerous schools, parents find it challenging to choose the right one that would fit their child. It is difficult for them...

Read full article >

5 Engaging Activities For Children To Get...

Learning for every child starts from a very young age. While the formal methods include school curriculums and private lessons, the informal methods include dancing, music, drawing, and various fun-filling activities. Playing games and practising these types of activities helps the children get out of boredom and...

Read full article >

Find BCom Tuition near you
BCom Tuition in Delhi
BCom Tuition in Mumbai
BCom Tuition in Bangalore
BCom Tuition in Hyderabad
BCom Tuition in Chennai
BCom Tuition in Kolkata
BCom Tuition in Pune
BCom Tuition in Gurgaon
BCom Tuition in Jaipur
BCom Tuition in Ahmedabad

Looking for BCom Tuition ?

Learn from the Best Tutors on UrbanPro

Are you a Tutor or Training Institute?

Join UrbanPro Today to find students near you
X

Looking for BCom Tuition Classes?

The best tutors for BCom Tuition Classes are on UrbanPro

  • Select the best Tutor
  • Book & Attend a Free Demo
  • Pay and start Learning

Take BCom Tuition with the Best Tutors

The best Tutors for BCom Tuition Classes are on UrbanPro

This website uses cookies

We use cookies to improve user experience. Choose what cookies you allow us to use. You can read more about our Cookie Policy in our Privacy Policy

Accept All
Decline All

UrbanPro.com is India's largest network of most trusted tutors and institutes. Over 55 lakh students rely on UrbanPro.com, to fulfill their learning requirements across 1,000+ categories. Using UrbanPro.com, parents, and students can compare multiple Tutors and Institutes and choose the one that best suits their requirements. More than 7.5 lakh verified Tutors and Institutes are helping millions of students every day and growing their tutoring business on UrbanPro.com. Whether you are looking for a tutor to learn mathematics, a German language trainer to brush up your German language skills or an institute to upgrade your IT skills, we have got the best selection of Tutors and Training Institutes for you. Read more

ThinkVidya Learning Pvt Ltd © 2010-2024All Rights Reserved