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

• The first golden rule is the Personal Account rule, which states that debit the receiver and cred...read more

Personal Account- Debit the receiver and credit the giver.

Real Account -Debit what comes in and credit what goes out

Nominal Account - Debit all expenses and losses and credit all incomes and gains.

Personal Account - Debit the receiver and Credit the Giver

Real Account -Debit what comes in Credit what goes out

Nominal account -Debit all expenses and losses Credit all incomes and Gains

Personal Account - Debit the receiver and Credit the Giver

Real Account -Debit what comes in Credit what goes out

Nominal account -Debit all expenses and losses Credit all incomes and Gains

There are 3 types in golden rules

1.Real account:- Debit what comes in and credit what goes out.

2. Personal a/c:- Debit the receiver and credit the giver.

3. Nominal a/c:- Debit all expenses and loss...read more

Personal account - debit the receiver and credit the giver

Real account - debit what comes in and credit what goes out

Nominal acount - debit all expenses and losses

Credit all income and gain

Personal account

1. Debit the receiver
2. Credit the givergiver

Real account

1. Debit what comes in
2. Credit what goes out

Nominal account

1. Debit all expenses and losses
2. Credit all incomes and gains

Personal account; debit all the receivers

Credit all the givers

Real account; debit what comes in

Credit what goes out

Nominal account; debit all expenses and losses

Credit all incomes and gains

1)Debit the receiver n credit the giver (Personal account)

2)Debit what comes in wat goes out(real account)

3)Debit all losses n expenses n

Credit all income n gains (nominal account)

Debit the receiver credit the giver

Debit expense credit income

Debit what come in credit what goes out