Rules of debit and credit

25/05/2018 1 0

Personal account: Debit the receiver and credit the giver
Real account: Debit what comes in and credit what goes out
Nominal account: Debit all expenses & losses and credit all incomes & gains

1 Like 0 Dislike

Follow 0

Other Lessons for You

Financial Accounting

Accounting is the art of recording, classifying, summarising in a significant manner regarding money, transaction & events which are at least in part financial interpreting the result thereof. (AICPA...

Rajeshwari M.

3 0

Introduction to Chess

Chess is a game played on 64 square board which is a combination of two colours, usually black and white (nowadays different colours chess boards are available like green and white, yellow and brown). The...

Deleted User

0 0

Introduction To Accounting: Part 7: Accounting Principles

Just like we have Grammar in English Language, which is basically the rules of English, we have some rules for Accounting as well, known as Accounting Principles. Accounting Principles, Concepts and Conventions...

Nishant Kumar

0 0

A short concept of Fiscal Deficit in Economics :--

A fiscal deficit occurs when a government's total expenditures exceed the revenue that it generates, excluding money from borrowings. Deficit differs from debt, which is an accumulation of yearly deficits. A...

Kousiki Chakraborty

1 0

Introduction To Accounting: Part 16: Matching Concept

Let’s start with an example to understand this concept. Here it is: Suppose I buy 10 Books for Rs 1,000. This means that 1 Book costed me. Now, if I sell 5 Books at Rs...

Nishant Kumar

0 0

Find Class 12 Tuition near you

Online Tuition Class 12

Looking for Class 12 Tuition ?

Learn from Best Tutors on UrbanPro.

Are you a Tutor or Training Institute?

Join UrbanPro Today to find students near you

Class 12 Tuition Questions

What will be the Tution Fees for Account (XI and XII) classes in Delhi

8 Answers

What do you mean by principal of conservatism in accountancy?

47 Answers

Looking for Class 12 Tuition Classes?

The best tutors for Class 12 Tuition Classes are on UrbanPro

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

Take Class 12 Tuition with the Best Tutors

The best Tutors for Class 12 Tuition Classes are on UrbanPro

I am a Student I am a Tutor
Name*	Please enter your full name. Please enter institute name.
Email*	Please enter your email address.
Phone*	Please enter a valid phone number.
Location*	Please enter a pincode or area name.
City*	Please enter city name.
Category*	Please enter category.
Gender*	Male Female Please select your gender.
Email ID/ Mobile No.*	Please enter either mobile no. or email.
Enter Password*	Please enter OTP Please enter Password Sorry, this phone number is not verified, Please login with your email Id.