Scribd Logo
Upload

Welcome to Scribd!

  • Atm Procedure and Picture

    Uploaded by

    AARTI KURVE
    4 views5 pages
    This document outlines the basic rules of debit and credit for different types of accounts in accounting. It discusses the rules for three main types of accounts: personal accounts, real accounts, and nominal accounts. For personal accounts, the receiver of benefits is debited and the giver of benefits is credited. For real accounts, what comes in is debited and what goes out is credited. For nominal accounts, all expenses and losses are debited, and all incomes and gains are credited. The document also provides examples for each type of account and explains the basic format for journal entries in accounting.

    Original Description:

    Original Title

    ATM PROCEDURE AND PICTURE

    Copyright

    © © All Rights Reserved

    Available Formats

    PPTX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    This document outlines the basic rules of debit and credit for different types of accounts in accounting. It discusses the rules for three main types of accounts: personal accounts, real accounts, and nominal accounts. For personal accounts, the receiver of benefits is debited and the giver of benefits is credited. For real accounts, what comes in is debited and what goes out is credited. For nominal accounts, all expenses and losses are debited, and all incomes and gains are credited. The document also provides examples for each type of account and explains the basic format for journal entries in accounting.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    4 views5 pages

    Atm Procedure and Picture

    Uploaded by

    AARTI KURVE
    This document outlines the basic rules of debit and credit for different types of accounts in accounting. It discusses the rules for three main types of accounts: personal accounts, real accounts, and nominal accounts. For personal accounts, the receiver of benefits is debited and the giver of benefits is credited. For real accounts, what comes in is debited and what goes out is credited. For nominal accounts, all expenses and losses are debited, and all incomes and gains are credited. The document also provides examples for each type of account and explains the basic format for journal entries in accounting.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 5

    G. S.

    COLLEGE OF COMMERCE & ECONOMICS,


    NAGPUR

    Rules of Debit and Credit


    PRESENTED BY
    Aarti Kurve

    Guided by
    Ms. S. Bhagwat

    Rules of Debit and Credit


    Sr.
    No.
    1)

    Types of
    Accounts
    Personal
    Account

    Examples
    a) Natural :Rams A/c,
    Manjits A/c
    b) Artificial :M/S Bindra& Bros A/c,
    G.S College A/c.
    c) Representative :Wages outstanding A/c,
    Prepaid insurance A/c.

    Rules for
    Rules for
    Debit
    Credit
    Debit the Credit the
    receiver
    giver of
    of
    benefits
    benefits

    Sr.No.

    Types of
    Accounts

    2)

    Real
    Account

    Examples

    a)Tangible:Plant A/c,
    Building A/c
    b) Intangible:Good will A/c,
    Copy right A/c,
    Patent A/c.

    Rules for
    Debit

    Rules for
    Credit

    Debit
    Credit what
    what
    goes out.
    comes in.

    Sr. No.

    Types of
    Accounts

    3)

    Nominal
    Account

    Examples

    a) Expenses :Purchase A/c,


    Wages A/c
    b) Losses:Loss by Fire A/c
    c) Profit or Gains :Profit on sale of
    assets.

    Rules for
    Debit

    Rules for
    Credit

    Debit all
    expenses
    & losses

    Credit all
    incomes
    & gains

    FORMAT OF JOURNAL
    Date
    DD/MM/YY

    DD/MM/YY

    Debit
    L/F Amount
    (Rs)

    Particulars
    Debit Items _ _ _ _ _ Dr.
    To Credit Items
    (Being _ _ _ _ _ _ _ _ _ __)

    xxx

    Debit Items _ _ _ _ _ Dr.


    To Credit Items
    (Being _ _ _ _ _ _ _ __ _ _)

    xxx

    Credit
    Amount
    (Rs)
    xxx

    xxx

    Total

    xxx

    xxx

    You might also like