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  • Golden Rules of Accounting: Real Accounts

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    Vivek Mishra
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    The Golden Rules of Accounting provide guidance for debiting and crediting different types of accounts. Real accounts are debited for what comes in and credited for what goes out, personal accounts are debited for the receiver and credited for the giver, and nominal accounts are debited for all expenses and losses and credited for all incomes and revenues.

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    golden rules

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    Golden Rules of Accounting

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    The Golden Rules of Accounting provide guidance for debiting and crediting different types of accounts. Real accounts are debited for what comes in and credited for what goes out, personal accounts are debited for the receiver and credited for the giver, and nominal accounts are debited for all expenses and losses and credited for all incomes and revenues.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    12 views1 page

    Golden Rules of Accounting: Real Accounts

    Uploaded by

    Vivek Mishra
    The Golden Rules of Accounting provide guidance for debiting and crediting different types of accounts. Real accounts are debited for what comes in and credited for what goes out, personal accounts are debited for the receiver and credited for the giver, and nominal accounts are debited for all expenses and losses and credited for all incomes and revenues.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    GOLDEN RULES OF ACCOUNTING

    REAL ACCOUNTS
    DEBIT WHAT COMES IN
    CREDIT WHAT GOES OUT
    PERSONAL ACCOUNTS
    DEBIT THE RECEIVER
    CREDIT THE GIVER
    NOMINAL ACCOUNTS
    DEBIT ALL EXPENSES AND LOSSES
    CREDIT ALL INCOMES AND REVENUES

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