Accounts

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Yash Dave (Querist)
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23 October 2012 some time i get confused or do not understand how to do accounting entry for specifc accounting entry problem is there any solutuon for it please explian

CA. Subhash Dangi

CA. Subhash Dangi (Expert)
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23 October 2012 Remember the Golden rules of basic accounting principles in case of Real, Nominal and personal accounting.

1. for personal accounts
Debit - the receiver
Credit- the giver

2. for real accounts
Debit- what comes in
Credit- what goes out

3. for nominal accounts
Debit- all expenses/losses
Credit- all incomes/ gains

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