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Basic accounts principles

Hema B.

27/11/2019 1 0

Debit the receiver

Credit the giver

Debit what comes in

Credit what goes out

Debit all expenses and losses

Credit all income and gains

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Other Lessons for You

Rules of Journalizing

Personal a/c : " Debit the receiver, Credit the giver." Real a/c : " Debit what comes in, Credit what goes out." Nominal a/c : " Debit all expenses & losses, Credit all incomes & gains."

Sadiya G.

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Introduction To Partnership Firms

Fundamentals of partnership: A partnership comes into existence by an agreement. This agreement can be verbal or written. When two or more individuals enter into a partnership and sign a written agreement...

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Introduction To Accounting: Part 6: Users Of Financial Statements

As is evident from above, the first and foremost user of the Financial Statements would be the owner of the Business. Apart from owner, there are certain other parties who could be the users of the...

Nishant Kumar

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What is Accountancy?

ॐ श्री सरस्वत्यै नमः We all know this subject very well from our childhood. Remember those days of childhood when we share toffee and chocolates with your brother, sister and friends; we use to either...

Abhishek Pansari

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Golden Rules of Accounting

Golden Rules of Accounting: i. Personal Account: Dr. The Receiver Cr. The Giver ii. Real Account: Dr. What Comes in Cr.What Goes out iii. Nominal Account: Dr.Expenses and Losses Dr.Incomes And Gains.

Munaf S.

1 0

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Class 11 Tuition Questions

Why are rules of debit and credit same for liability and capital?

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Which statement is prepared to know the profitability of the business?

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Define Matrix.

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What will be the effect of change in income on giffin goods and normal goods ?

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What is the difference between Cash & Cash Equivalent?

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