The golden rules of accounting are basic principles that guide the recording of financial transactions.

• The first golden rule is the Debit-credit rule, which states that for every debit entry, there mu...read more

1) Debit all expenses and losses, credit all incomes and gains.

2) Debit the receiver, credit the giver.

3) Debit what comes in, credit what goes out.

Debit and credit in your account to time normally experience of ac debit ya credit at that time and check in you ac income ya profit

In real time using : what comes in debit and what goes out credit in personal time using : Debit is who receiver and credit is who giver nominal time using : Debit is all expenses and losses credit is...read more

In real time using:what comes in debit and what goes out credit

In personal time using: debit is who receiver and credit is who giver

Nominal time using : debit is all expenses and losses ,credit is...read more

Debit what comes in, credit what goes out

Debit the receiver, credit the giver

Debit all expenses and losses, credit the income and gain

• Debit what comes in, Credit what goes out.
• Debit the receiver, Credit the giver.
• Debit all expenses Credit all income

Real Account - Debit what comes in

Credit what goes out

Personal Account - Debit the Receiver

Credit the Giver

Nominal Account - Debit all Expenses and losses

Credit all Income and Gain