What are the three golden rules of accounts

Nominal,personal,real
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radha

  • Apr 21st, 2007
 

Personal accounts --> Debit the benefit receiver, credit the benefit giver

Real accounts --> Debit what comes in, credit what goes out

Nominal Accounts --> Debit all expenses and losses, credit all incomes and gains

Kooldude

  • Aug 21st, 2008
 

Personal Accounting : Debit the Receiver, Credit the Giver
Nominal Accounting  : Debit all Expenses and Losses, Credit all Incomes and Gains.
Real Accounting        : Debit What comes in, Credit what goes out.

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MohitJindal

  • May 1st, 2009
 

PERSONAL A/C: Debit the Reciever & Credit the Giver.

REAL A/C: What comes in goes to Debit , if goes out than Credit.

NOMINAL A/C: Expenses and Losses always Debit & Incomes and Gains always Credit.

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Amit

  • Nov 11th, 2013
 

Goldern Rule of Account

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DARPAN RASTOGI

  • Feb 27th, 2014
 

Three golden Accounts : Personal A/c, Real A/c, Nominal A/c.

PERSONAL A/C: Debit the Receiver & Credit the Giver.

REAL A/C: What comes in goes to Debit , if goes out than Credit.

NOMINAL A/C: Expenses and Losses always Debit & Incomes and Gains always Credit.

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radhe singgh

  • Oct 14th, 2014
 

tell me rules of financial accounts..

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Solomon poloso

  • Feb 11th, 2015
 

Nominal personal and real, nominal are for expense and other account personal are for personal account and real are for inventories or company assets

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Hiral Desai

  • Mar 10th, 2015
 

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

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iti bali

  • Jun 18th, 2015
 

There is three types of accounts and three types of separate rules for these accounts. First one is debit all expenses and losses and credit all incomes and gains for nominal account.second one is debit what comes in credit what goes out for real account.and the third and final one is debit the receiver and credit the giver for personal account.

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Aryan jain

  • Jul 14th, 2015
 

Correct

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Bharat Balar

  • Jul 31st, 2015
 

Personal Account: Debit the receiver. Credit the giver.
Real Account: Debit whats comes in. Credit what comes out.
Nominal Account: Debit the expense and losses. Credit the income and gain.

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Raju Varagade

  • Aug 5th, 2015
 

Three Goldern Rule of Account
Personal Account- Dedit- The Receiver
Credit- The Giver
Real Account - Debit - What Comes In
Credit- What Goves Out
Nominal Account: Debit - The Expense and Losses.
Credit-The Income and Gain.

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Mahesh

  • Aug 5th, 2015
 

1. Personal Account
Debit the receiver
Credit the giver

2. Nominal account
All expense and loses debit
All incomes and gains credit

3. Real account
What comes in debit
What goes out credit

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rr

  • Aug 11th, 2015
 

Real Account
Debit what comes in
Credit what goes out

Personal Account
Debit the Receiver
Credit the Giver

Nominal Account
Debit all expenses and losses
Credit all incomes and gains

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laxman sharma

  • Sep 14th, 2015
 

Personal, Real, Nominal..
Personal - Debit the receiver, Credit the giver.
Real - Debit what comes in, Credit what goes out.
Nominal - Debit all Expense and Loss, Credit all Income And Gain.

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max

  • Oct 10th, 2015
 

Golden rules of Accounting:
Assets = Increase-Dr. Decrease -Cr. Effect on SFP
Liabilities = Increase-Cr. Decrease -Dr. Effect on SFP
Expenses = Increase-Dr. Decrease -Cr. Effect on P&L
Income = Increase-Cr. Decrease -Dr. Effect on P&L
and
Equation = Assets = Capital + Liabilities

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namita (purnima)

  • Nov 9th, 2015
 

Golden rules of Accounting:
Assets = Increase-Dr. Decrease -Cr. Effect on SFP
Liabilities = Increase-Cr. Decrease -Dr. Effect on SFP
Expenses = Increase-Dr. Decrease -Cr. Effect on P&L
Income = Increase-Cr. Decrease -Dr. Effect on P&L
and
Equation = Assets = Capital + Liabilities
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 or Losses &Credit all Income or Gains

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kamal

  • Nov 22nd, 2015
 

Personal account:debit the receiver
Credit the giver

Real account: debit what comes in
Credit what goes out

Nominal account: debit all exp and losses
Credit all incomes and gains

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pradeep kumar

  • Apr 14th, 2016
 

1) Personal Account:
Debit the receiver.
Credit the giver.

2) Real Account:
Debit What comes in.
Credit What goes out.

3) Nominal Account:
Debit all expenses and losses.
Credit all incomes and gains.

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swetlana bakshi

  • May 18th, 2016
 

Rules of debit and credit under traditional approach:

PERSONAL ACCOUNTS: Debit the receiver (of benefit), and credit the giver (of benefit).

REAL ACCOUNTS: Debit what comes in, and credit what goes out.

NOMINAL ACCOUNT: Debit all expenses and losses and credit all incomes and gains

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