Interested to Buy Any Domain ? << Click Here >> for more details...
What is the nature of bank account:
a) nominal
b) real
c) personal
- 29 Answers
- 87516 Views
- IBM, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / asim shahzad
Bank account is a personal account (because rules of debit and credit of real accounts can not be applied to bank account). If bank account is real account then when it is debited what comes in?
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / satyanarayana raju
Bank account is real as well as personal account also.If is a current/Savings account it is a real account and if it is a loan account it should be under personal account.The entrepreneur will keep the cash received something in the office cash box to meet the immediate needs of the business and something he will keep in a bank account. Whenever we withdraw amount from bank we will pass the transaction under contra. The word contra means transfer of position. that is we take something from the cash box and the same will be transferred to Bank account.With this the cash account will not affect but the placement will change. But when we take loan from banks we have to treat it as Personal account.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / saswat
Bank account is a personal a/c and some time it is treated
as real a/c.
| Is This Answer Correct ? | 1 Yes | 2 No |
Answer / sunil saini
Real A/c because it represent the "cash at bank" i.e. An
Assets, so that it is real a/c
| Is This Answer Correct ? | 4 Yes | 5 No |
Answer / santosh
bank a/c comes under personal account (becouse it deals with
individual transaction)
| Is This Answer Correct ? | 1 Yes | 2 No |
How to calculate ESI pls give with example? and Professional tax give with example brother?
How many invoices on average do you handle on a weekly/monthly basis?
what is service tax
What knowledge should financial accountant have?
What is the difference of cost accounting and financial accounting?
Ramu started business with rs 1000000.give me journal entry. plz explain brefily
Did you use accounting applications at your previous companies or prefer working manually??
What is the meaning of Decommissioning liability, explain in which serious we will use?
what is contingent liabilty, how it shows in balance sheet?
Contents of a Balance sheet
Tell me what is “deposit in transit”?
1. our co., start from 20.05.10 but at the time to till our capital invested m.d spend Rs:98000 as food,refreshment,rent guesthouse,travelling exp e.t.c., now we want to return to him (i.e) all the expenses (amount will pay may be 17.08.10, how to account it in tally for the expenses of M/D . and payment entry. I need the help
Audit 
