What is the types of accounts & it's rules ?
- 18 Answers
- 68255 Views
- WNS, I also Faced
- E-Mail Answers
Answer Posted / jagadeesh.rt
Type of accounts are classified into three categories :
Personal accounts : The personal accounts are again
classified into Personal and impersonal accounts
Personal accounts : In which the transactions
directly indicate the natural persons. Eg. Ram, sharma
Impersonal accounts : In which the transactions
indirectly indicate the artifical persons created by the
law. ICICI BANk
Debit the receiver
Credit the giver
Real accounts : For general operating of the firm, it
requires some assets like fixed assets and current assets.
These types of assets are classified under this head. Eg.
furniture, fixtures,inventory
What comes in Debit
What goes out is Credit
Nominal accounts : The expenes incurred for the operating
of the firm, will be classified under this head. Eg. Wages,
Salaries(denpending on the transactions)
All expenses and losses debit
All incomes and gains credit
| Is This Answer Correct ? | 312 Yes | 29 No |
Post New Answer View All Answers
What do u mean by pass through expenses? give examples, how it will be accounted & billed?
What is specific reserve
Hi frnds, can any one tell me how much funds has to be there to convince financially sound during the visa interview and what supporting documents has to be produced. What is backlogs means.....hope the best known will answer.
1.provide a brief write up on why you consider yourself suitable for the post voting your major achievements? 2. Mention your position in the hierarchy and the levels above and below you ?
as per partership firm TDS receivable at the end of goes to partners current account, but at the multinational company how pass TDS entry pass, where is it is goes
how to do finalisation account ,pls tell me step by step ?
Who to create a budget on software company
What are motive behind mergers And acquisitions?
Explain howyou would account for the following items/situations,justifying answers by reference to the conceptual frameworks defintion and rcognition criteria. a)A trinket of sentimental value only b)You are the guarantor for your friends bank loan i) You have no reason to belive that your friend will default on the loan ii) As your friend is in serious financial dificulties,you think it is likely that he will default on the loan c)You receive 1000 shares in X Ltd,trading at $4 each,as a gift from a grateful client. d)The panoramic view of the coast from your cafes windows,which you are convinced attracts customers to your cafe
At Present Situation in sensex market is low, It converts the whole human being life into the depth. When and how it will change? Is it possible?
what is the uniform public construction cost accounting act?
What do you think you do well?
legal accounting methods to reduce profit of a partnership firm so as to reduce the tax liability?
Why do you want to work for us?
what do u mean by arrear basic or arrear hra?
