What is personal a/c ,real a/c
- 8 Answers
- 28496 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / ravikumar77
Golden Rules of Accounting..
Personal a/c
Debit the receiver
credit the giver
Real A/c
Debit what comes in
Credit what goes out
Nominal A/C
Debit all Expenses and Loss
Credit all Incomes and gain
| Is This Answer Correct ? | 78 Yes | 1 No |
Answer / guest
real a/c
what come in debit
what goes out credit
personal a/c
debit the receiver
credit the giver
nominal a/c
debit all exponeses and lose
credit all income and gain
| Is This Answer Correct ? | 36 Yes | 5 No |
Answer / ashwini
Personal Accounts: Accounts dealing in the name of persons
company etc.
Real Accounts: Accounts dealing in the name of which one
exists. example Cash Furniture etc.
Nominal Accounts: Account dealing with one we cannot see
touch - example: Salary Electricity Charges Rent etc.
| Is This Answer Correct ? | 24 Yes | 6 No |
Answer / jai
personal : debit the receiver
credit the giver
for eg: dis accounts comes under the name of persons like
ramu a/c and the company like LIC insurance pvt.ltd, etc
real : debit wat comes in
credit wat goes out
for eg: dis accounts comes under 2 heads. one s tangible and
other one s intangible like building, machinery , land,
plant etc.
nominal : debit all expenses and losses
credit all incomes and gains
for eg: dis account s cannot touch like the salary,
electricity, etc.
| Is This Answer Correct ? | 16 Yes | 1 No |
Answer / ca.zishan ali
RULES:
Accountancy contains major three kinds of account area or
accounts
1) Personal A/C- it contains the accounts of either
of specific area or any specific person/company also
applicable in government sector. The examples are as
follows Mr. Xing A/c is under personal A/c because its an
account of an specific person or in other words it may be
called sole proprietorship account other is Bank of Baroda,
Gujarat Governance service, Gujarat Infosys etc all are
company accounts.
“Rule for debit and credit transaction applicable in
journal entry as well as all other accounting fields”
Debit—The receiver/what comes in
Credit—The giver/what goes out/who donates or pay to
other.
2) Real A/C- The stocks either goods in business
which are kept with an intension to earn from them are
called goods. In business there are many goods accounts
such as sales A/c, Purchase A/c, purchase return/sales
return etc… all these are effected in Real accounts
“Rule for Debit and Credit”
Debit—What comes in
Credit—What goes out
3) Nominal A/c- This account is for other expenses of
business and various direct and indirect incomes/expenses
of business. Some examples are profit and loss of the
business,travelling expenses of business, Goods burnt/gone
by fire/theft, Advertisement expenses, Legal expenses,
Commission given/received etc all such kind of entry of
business is recorded in nominal A/c.
“Rule for debit and credit”
Debit—All expenses and losses of business/during
transactions or dealings
Credit—All incomes of business earned from profit or during
transactions or on dealing
| Is This Answer Correct ? | 13 Yes | 2 No |
Answer / shubham&dev
rULES:
Accountancy contains major three kinds of account area or
accounts
1) Personal A/C- it contains the accounts of either
of specific area or any specific person/company also
applicable in government sector. The examples are as
follows Mr. Xing A/c is under personal A/c because its an
account of an specific person or in other words it may be
called sole proprietorship account other is Bank of Baroda,
Gujarat Governance service, Gujarat Infosys etc all are
company accounts.
“Rule for debit and credit transaction applicable in
journal entry as well as all other accounting fields”
Debit—The receiver/what comes in
Credit—The giver/what goes out/who donates or pay to
other.
2) Real A/C- The stocks either goods in business
which are kept with an intension to earn from them are
called goods. In business there are many goods accounts
such as sales A/c, Purchase A/c, purchase return/sales
return etc… all these are effected in Real accounts
“Rule for Debit and Credit”
Debit—What comes in
Credit—What goes out
3) Nominal A/c- This account is for other expenses of
business and various direct and indirect incomes/expenses
of business. Some examples are profit and loss of the
business,travelling expenses of business, Goods burnt/gone
by fire/theft, Advertisement expenses, Legal expenses,
Commission given/received etc all such kind of entry of
business is recorded in nominal A/c.
“Rule for debit and credit”
Debit—All expenses and losses of business/during
transactions or dealings
Credit—All incomes of business earned from profit or during
transactions or on dealing
| Is This Answer Correct ? | 2 Yes | 1 No |
What is ERP? Diff b/w Income & Expenditure a/c & P/L a/c? What is the fullform & the application of SAP? What is the reasons where Balance sheet will not tally?
what is journal entry for "Interest allowed by bank" and where does it come in pass book??
what is salary slab for tds
sir i want to know that where we taken entry of sals return in excise in manufecturing unit tell me .
Company ABC split 1:3 on March 31, 2009 and split 3:1 on March 31, 2008. Date Close Price # of Shares Revised Closed Price Revised # of Shares June 15, 2009 $75.00 3000 $75.00 April 23, 2009 $72.00 2300 $72.00 March 31, 2009 $67.00 999 $ March 31, 2008 $275.00 300 $91.66 November 30, 2007 $233.00 6800 $77.66 October 6, 2006 $1,333.00 13000 $444.33
How to calculate excise duty?
What is the Major Difference between Revised Schedule VI and Old Schedule VI ?
what are examples of marketable securities ? wat are marketable securities?
What is the Entry of A Demand Draft is prepared for rs.4500 from UTI bank after bank charges?
What do we mean by Redemption of shares and debentures?
what is the meaning of deferred revenue ? give me some examples
In the balance sheet, where do you show tds?
Audit 
