KINDLY EXPLAIN THREE TYPES OF ACCOUNTS WITH EXAMPLES



Answer Posted / nizamuddin

personal account, debit the receiver credit the giver,
real or asset account, debit what comes in credit what goes
out
nominal or ficticious accounts, debit expenses or losses
and credit incomes and gains.

Is This Answer Correct ?    23 Yes 8 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

What Entery Should Made When Godown Rent Paid in Advance At The Time Of Agreement.Transation Is as Below * Rent Paid To XYZ (OWNER OF PROPERTY) For Running Month. * One Month Rent In Advance Tenent will Always pay rent amt 1st of every month. How can we do entry every month and How can party's a/c will due on ending every month. How can party a/c Show ADVANCE RENT. Please enter every entery including JV. With time when it is necessary.

2789


What do you find most satisfying about this job?

619


Explain me fair value accounting?

603


Do you know any other accounting application?

633


if you are a hard working nature conclude your self?

1564






Tell me how you can adjust entries into account?

548


Explain what are the rules for debit and credit for different accounts to increase the amount in your business accounts?

3423


i want to know f form and how to use and how can purchase

1429


I TRANSFERRED A STOCK OF RS. 100.00 FROM HEAD OFFICE DELHI TO MFG. UNIT OFFICE AT HARYANA AGST FORM F.AT BRANCH GOODS ARE PROCESSED AND ADDED VALUE OF RS. 80.00 AND TRNF BACK TO DELHI HEAD OFFICE FOR RS. 180.00 AGST FORM F FROM HARYANA . AND HEAD OFFICE SOLD THIS TO PARTY AT RS. 200.00 . I WANT TO KNOW HOW TO MAKE ACCOUNTING ENTRIES IN BOTH BOOKS HEAD OFFICE AND BRANCH OFFICE. TO SETTEL ACCOUNT AND TO CONSOLIDATE THE BOOKS AT THE END OF YEAR.

1505


purchase return liability or asset?should it be included in the balanced sheet?

1063


whats difference between manufacturing account & cost account

1664


I am a Leaving Cert Student. From Solutions to exam questions etc. I know what to do with the following adjustment but I cannot explain why. A thypical Adjustment is: A building is acquired for €60000 plus VAT at 10%. The amount paid to the Vendor was entered in the Buildings Account. No entry made in the VAT account. Could you explain why the VAT amount is deducted from the VAT amount in the TB? And why it is sometimes an Asset in the BS. Thank you, Mary

1314


what are the steps for the payment cycle of the firm or company?

1595


what are the charecteristics of cost accounting financial accounting managment accounting payroll accounting environmental accounting h r accounting forensic accounting inflation accounting?

1451


what will be the entry for inventory

1611