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

Introduction To Accounting: Part 3: Financial Information And Business Transaction

Financial Information: Financial Information arises from Business Transactions. So, let us first understand what are Business Transactions. Business Transaction: The term “Business Transaction”...

Nishant Kumar

0 0

Introduction To Accounting: Part 13: Money Measurement Concept

According to the Money Measurement Concept, only those transactions and events are recorded in the books of accounts which can be measured in terms of money. Therefore, a transaction which cannot...

Nishant Kumar

0 0

Fictitious Assets - Class 11/12, Book-Keeping and Accountancy, Basic Accounting Terms

Useful for - NCERT/CBSE, ICSE/ISC, IGCSE/GCSE, State Boards

Rajiv Vadera

0 0

Definitions of Bank Reconciliation Statement

A Bank Reconciliation Statement (BRS) is a financial document that compares the bank's records of an individual or a company's account with the corresponding entries in their own accounting records. It...

Subhash Chandra Thakur

0 0

Introduction To Accounting: Part 18: Revenue Recognition Concept Or Realisation Concept

According to the Revenue Recognition Concept, revenue is considered to have been realised when a transaction has been entered into and the obligation to receive the amount has been established. It...

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 do you mean by principal of conservatism in accountancy?

47 Answers

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

8 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.