how are journal entry solve
Answers
Answered by
0
journal entries are solved with the help of rules and concepts of accounting.
first of all you must learn the 3 GOLDEN RULES of accounting i.e
1.PERSONAL A/C ;- DR. (debit) the receiver & CR. ( credit ) the giver.
2. REAL A/C :- DR(debit ) what comes in & CREDIT (credit) what goes out.
3. NOMINAL A/C :- DR( debit ) all expenses and losses & CR( credit) all incomes and gains.
remember these 3 rules and apply it.
first of all you must learn the 3 GOLDEN RULES of accounting i.e
1.PERSONAL A/C ;- DR. (debit) the receiver & CR. ( credit ) the giver.
2. REAL A/C :- DR(debit ) what comes in & CREDIT (credit) what goes out.
3. NOMINAL A/C :- DR( debit ) all expenses and losses & CR( credit) all incomes and gains.
remember these 3 rules and apply it.
Answered by
0
remember in debit there are 3 things
1.drawings 2.expenses/losses 3. assets
in credit there are 3 things
1. capital 2. incomes 3. liabilities
1.drawings 2.expenses/losses 3. assets
in credit there are 3 things
1. capital 2. incomes 3. liabilities
Similar questions