Beruflich Dokumente
Kultur Dokumente
Nature of transaction
purchases account (real account cash account (real account and goes
& goods coming in) out)
Rule: Debit what comes in & Rule: Debit expense and loss
credit what goes out Credit income and profit
ules and regulations
Personal accounts
Usually the persons with whom trading
is done or cash transactions/cheque
transactions are regularly made like a
bank
Trade creditors
Trade debtors
Banks
Profits can be manipulated & Profits are more reliable as all the
hence less reliable transactions are accounted
Rent, interest,
consultancy charges,
salary, wages & a host of Expense debit & outsstanding expense
administrative expenses credit