Question

rule of credit and debit

Answer 1

The golden rules of accounting:-


✒ Real Accounting:
Dr - What comes in
Cr - What goes out
Examples of this kind of transaction include cash/bank and rent.

✒ Personal Accounting:
Debit is the receiver.
Credit is the giver.
An example of this kind of transaction is Vendor/Customer relations.

✒ Nominal Accounting:
All gains and income are credit.
All losses and expenses are debit.
An example of this kind of transaction is sales and/or purchases.

Answer 2

●Hy user●


Here's ur answer 》》》



☆FOR PESONAL ACCOUNT☆




◇Debit The receiver
◇Credit The giver



☆FOR REAL ACCOUNT☆

◇Debit What comes in

◇Credit What goes out




☆FOR NOMINAL ACCOUNT☆




◇Debit All losses and expenses
◇Credit All gain and income



Hope it helps ☺✌⚡