Give some example of real,personal & nominal accounts , &
which kind of a/c reflect p&l & BS.
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Answer / hemant negi
personal a/c related with person name or farm.e.g bank,
ram /c etc
nominal a/c related with those a/c who gives profit and
loss/. p & l a/c, revlouation a/c, memodandum a/c etc.
real a/c related with assests name. furniture, car computer
etc.
| Is This Answer Correct ? | 15 Yes | 1 No |
Answer / vaishali
Personal A/c Example : Ram A/c , Shyam A/c
Real A/C Exame : Furniture A/c Reflected : Balance Sheet
Nominal A/c : Revlouation a/c, Memodandum a/c reflected : P& l
| Is This Answer Correct ? | 9 Yes | 0 No |
Answer / rajan raj
An account is a summarized record of business transactions and account can be classified into 3 types
A. Personal Account
B. Real Accounts
C. Nominal Account
A. Personal Accounts – The accounts which relate to an individual, firm, company are called personal accounts. It can be classified into three categories –
1. Natural Personal account- It refers to the accounts of human beings. For example tom account, Stephen account etc…
2. Artificial Personal account – It refers to accounts that do not have physical existence like accounts of companies for example Microsoft account, Google account etc….
3. Representative Personal account – It refers those account which represents a particular group of persons so prepaid insurance account or unearned commission account are some of its examples.
B. Real Accounts – The accounts of all things whose value can be measured in terms of money are known as real accounts. They are of 2 types
1. Tangible Real account – These are the account of those things which can be touched, felt or measured. Examples of it include stock account, building account, furniture account etc….
2. Intangible Real account – These accounts represents those things which cannot be touched, felt or measured but their value can be measure in terms of money. Goodwill, patent, trademark are some of the examples of intangible account.
C. Nominal Account – Nominal account include the accounts of all expenses and incomes. For example commission earned, rent paid, bad debts, rent received etc…..
| Is This Answer Correct ? | 10 Yes | 2 No |
Answer / adnan hashmi
PERSONAL A/C
It is the account in which all accounts are counted which is related to person, like Ram's A/C, Bank A/C & Company's A/C.
Receiver Dr.
Giver Cr.
REAL A/c
It includes the tangible & intangible assets & liabilities.
What comes In Dr.
What goes Out Cr.
NOMINAL A/C
It includes all Expenses, Losses, Gains & Income
Expenses & Losses Dr.
Income & Gains Cr.
| Is This Answer Correct ? | 6 Yes | 0 No |
Answer / manav
Examples of
Real Accounts are as follows:
Land,
Building
Goodwill
Cash
Purchases
Goods
Machinery
Patents
Trademark
Copyright
Investment
Cash in hand
Cash at bank
Leasehold property
| Is This Answer Correct ? | 7 Yes | 2 No |
Answer / ziya saif
in simple language
1:-Debit the Receiver and Credit the Giver
2:-Debit What Comes in and Credit What Goes out
3:-Debit all Expenses or Loss and Credit all Income Gains or Profit
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / bhawesh kumar
Hi
Dear friend Raju i am a new google learner of tally. I need some question set of voucher entry, because i want to do some workout/practice with self to improve self.
so if you want to some help me, please send me your question set.
Thak you
8400217390
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / sukanta dey
Particular Dr Cr
BY loan a/c dr. - 50,00,000 -
To Cash a/c cr. - - 50,00,000
[Bening I received the loan]
| Is This Answer Correct ? | 14 Yes | 20 No |
Can you please help me calculate the pre tax profit for credit card for 2014 using the following Assumptions. Request you to list the steps used. Charges Late fee £12 per occurrence Over limit fee £10 per occurrence Cash fees 3% of cash withdrawal value Annual Fee £25 per account, per year Interchange 1% of transaction value KPIs Accounts overdue 10% per month Accounts over limit 15% per month Average APR 30% Balances revolving 90% of balance Average balance £900 at end of 2013 Expected growth in average balance (2014) 10% per annum Assumptions Open accounts 200,000 at 2013 year-end New accounts booked 5,000 per month Annual operating cost £50 per open account Cost of Acquisition £50 per account Provision rate 9% of total balances Annual cost of funds 4% by balance Charge off Unit charge-off rate in 2014 11% of accounts at 2013 year-end Unit charge-off rate in 2014 0% of accounts booked in 2014 Post charge-off recoveries 20% of balance Account Transactions Monthly turnover 5% of total month end balances Cash advances 20% of monthly turnover Additional Assumptions Please state any additional assumptions you have made to calculate your answer Thanks in advance,
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