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GOLDEN RULES OF ACCOUNTING

20/03/2018 0 0

Rules of debit and credit
1. Personal accounts : Debit the receiver & Credit the giver (supplier)
2. Real accounts : Debit what comes in & Credit what goes out
3. Nominal accounts : Debit expenses and losses & Credit incomes and gains

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Why are rules of debit and credit same for liability and capital?

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