What is personal Account?

Answer Posted / rajinder dhawan

Personal Account is related to Double Entry Rules System

i.e Below:

Dr. Who is Receiver

Cr. Who is giver.

Example:

Dhawan purchase the goods from Rajinder of Rs.5000 in 10%
trader discount on credit Sale.

Purchase A/c Dr. 4500 ( What comes in Debit)

To Rajinder Cr. 4500 ( Who is giver)

Is This Answer Correct ?    6 Yes 1 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

what is the procedure of interview question in genpact

1774


what are the financial ratios that a manager see in accounting?

1495


What is meant by consignment

1679


What is contract accounting?

1845


where is suspense entry is entered in tally erp9

996






please explain the uses of internate protocol address(ip add)?

1689


how to maintain E-Commerce companies accounts

979


you went outside to purchase vegetagles, suddently big rain came then what you will do

1651


while doing work in dolphin software when credit note is given by supplier to purchaser then purchaser is debited supplier account so on credit side which account is coming which account should be credited

1634


types of inventory

1767


what is finance what is bpo why do u want join a BPO types of process in BPO Company's

1617


Is WCT paid to be considered as overhead during costing in construction firm?

1514


differnce between the 4.7 & 6.0 versions?

1656


what is crisil?what is the advantage of crisil rating?

3216


Hi guys, If anyone have gone through the CAPITAL IQ-Junior Research Associate interview then plz let me know about its pattern..and if anyone hav its placement papers or any other information then plz post to me at arshadbasha_mba@rediffmail.com

2392