what is difference between nominal and real account
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Answer / anil gautam
real a/c "dr. what comes in and cr. what goes out"
nominal a/c "dr. alll the expenses and losses cr. all the
profit and gains"
| Is This Answer Correct ? | 64 Yes | 4 No |
Answer / santau das
Real accounts only deals with the assets but nominal
accounts deals with expenses and incomes.
| Is This Answer Correct ? | 38 Yes | 4 No |
Answer / dinesh
Real a/c : Debit what come's in & credit what go's out
nominal a/c : debit all expence & all losess credit all
income & gains
In real a/c whatever things we can see,touch & feel it all
come's under real a/c. eg: bldg,machinery etc..
In nominal a/c we record only expence & losess and income &
gains for eg: interest, depreciation etc.
| Is This Answer Correct ? | 14 Yes | 1 No |
Answer / ashwini
Accounts dealing in properties, such as Cash,Building,
Machinery etc., are known as Real Accounts.
Accounts that record expenses,losses and incomes are called
Nominal Accounts
| Is This Answer Correct ? | 13 Yes | 2 No |
Nominal accounts helps us to know the result of the venture
Real accounts will be placed in Balance sheet and will help
us to know the financial status of the orgonisation
| Is This Answer Correct ? | 19 Yes | 9 No |
Answer / aurosnigdha bose
real a/c includes all assets n properties but nominal a/c
includes all expenses n losses
| Is This Answer Correct ? | 11 Yes | 1 No |
Answer / komu
Real a/c ; Dr' what comes in and Cr' what goes out
Personal a/c ; Dr; the reciver and Cr' the giver and
Nominal a/c ; Dr' all over expense and loss and Cr' all over
incomes and granis (profit)
| Is This Answer Correct ? | 6 Yes | 0 No |
Answer / mns
All tangibles are Real account. All intangibles are nominal
account
| Is This Answer Correct ? | 2 Yes | 2 No |
Answer / vishakha
NOMINAL A/C SHOWS THE BUSINESS GAINS OR LOSS AND THIS
ACCOUNT SHOW THE FIXED COST AND SEMI VARIABLE COST
EXPENSSES.
REAL A/C SHOW THE WHERE CASH & BANK BALANCES ARE INVESTED
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / shreerama
Real A/c Shows : Dr What comes inside the business
Cr What goes outside the business
Nominal A/c Shows : All incomes or gains is Cr
All Expenses or Loss is Dr
| Is This Answer Correct ? | 0 Yes | 0 No |
i received cheque from the customer and deposited in bank please tell me the both entries in tally
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