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What is properties or real accounts?

Answers were Sorted based on User's Feedback



What is properties or real accounts?..

Answer / meenakshirani

These accounts are accounts of assets and properties, such
as building and Plant, machinary, cash, inventory etc.


Example: purchase a machinary with cash= 50000/-

Is This Answer Correct ?    6 Yes 0 No

What is properties or real accounts?..

Answer / prateek goyal

these account is tangible and tangible assets & cash
ex- bulding machine cash
purchase bulding with cash= 100000/-

Is This Answer Correct ?    4 Yes 0 No

What is properties or real accounts?..

Answer / ammu

The rules of real accounts are:
Debit :What comes in
Credit:What goes out.
Example entry:
purchased furniture for cash
Entry is :
Furniture a/c..Dr
To cash a/c
Being the furniture purchased for cash)
In this case furniture comes in and cash goes out.

Is This Answer Correct ?    2 Yes 1 No

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