Doubt regards about debit and credit
This query is : Open
13 January 2021
Dear honourable persons i have doubts regarding about the debit and credit,plse guide me
golden rules of accounting
1.personel account ( persons,company or firm and individuals)-----debit the receiver and credit the giver.
2.real account(assets )----debit what comes in and credit what goes out
3.nominal account (losses and profits)----debit all expenses and lossess and credit all incomes and gains.
iam i correct
* BUT THE DEBIT AND CREDIT ARE THE DEPENDS ABOUT THE NATURE OF ACCOUNTS.
one general doubt ,if i paid a amount to my creditors means the amount will which side it will show debit side or credit side in sundry creditors ledger account.. then if i want to payable means which side it will show.
could you plse guide me ,i have a detailed explanation of this thing with examples please
golden rules of accounting
1.personel account ( persons,company or firm and individuals)-----debit the receiver and credit the giver.
2.real account(assets )----debit what comes in and credit what goes out
3.nominal account (losses and profits)----debit all expenses and lossess and credit all incomes and gains.
iam i correct
* BUT THE DEBIT AND CREDIT ARE THE DEPENDS ABOUT THE NATURE OF ACCOUNTS.
one general doubt ,if i paid a amount to my creditors means the amount will which side it will show debit side or credit side in sundry creditors ledger account.. then if i want to payable means which side it will show.
could you plse guide me ,i have a detailed explanation of this thing with examples please
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