Question

Explain the rules of debit and credit for different types of Accounts

under traditional approach.​

Answer 1

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Rules for Debit and Credit under the Traditional Approach

Personal Account :-

Debit the Receiver; Credit the Giver

Real Account:-

Debit what comes in; Credit what goes out

Nominal Account:-

Debit all expenses/losses; Credit all income/gains

Answer 2

Answer:

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░▒▓█Hii█▓▒░

thє rulє σf dєвít αnd crєdít dєpєndѕ σn thє tчpє σf αccσunt чσu αrє tαlkíng αвσut:

pєrѕσnαl αccσunt: dєвít thє rєcєívєr αnd crєdít thє gívєr.

rєαl αccσunt: dєвít whαt cσmєѕ ín αnd crєdít whαt gσєѕ σut.

nσmínαl αccσunt: dєвít αll єхpєnѕєѕ & lσѕѕєѕ αnd crєdít αll íncσmєѕ & gαínѕ.

ᴋᴇᴇᴘ sᴍɪʟɪɴɢ ᴅᴇᴀʀ♡♡

ítzαngєllícα hєrє♡♡

☺️☺️