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What is properties or real accounts?
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Answer / meenakshirani
These accounts are accounts of assets and properties, such
as building and Plant, machinary, cash, inventory etc.
Example: purchase a machinary with cash= 50000/-
| Is This Answer Correct ? | 6 Yes | 0 No |
Answer / prateek goyal
these account is tangible and tangible assets & cash
ex- bulding machine cash
purchase bulding with cash= 100000/-
| Is This Answer Correct ? | 4 Yes | 0 No |
The rules of real accounts are:
Debit :What comes in
Credit:What goes out.
Example entry:
purchased furniture for cash
Entry is :
Furniture a/c..Dr
To cash a/c
Being the furniture purchased for cash)
In this case furniture comes in and cash goes out.
| Is This Answer Correct ? | 2 Yes | 1 No |
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