Answer / priyaranjan nayak

There are 2 types of Accounts.
1.Persional Account
2.Impersonal Account
The Persional Accounts are.
a. Natural persion's Accounts.
b. Legal Persion's Accounts.
c. Reperesentative persion's Accounts.
The Impersional Accounts are Two types.
(i)Real Accounts (ii)Nominal Accounts
The Real Accounts are.
a. Tangible Assets
b. Intagible Assets.
The Nominal Accounts are.
a. Expenses and Losses.
b. Incomes and Gains.

Answer / priyaranjan nayak

There are three types of accounts.They are
Personal Account.
Real Account.
Nominal Account.
Personel A/c :- Debit The Reciever Credit the Giver

Real A/c :- Debit what comes in Credit what Goes Out

Nominal A/c :- Debit All The expenses And Losses Credit All
the Income And Gains.

Answer / nimisha

can nyone gve me 5-5 example of each real, personal n nominal a/c
thanx in advance

Answer / jitendra kotwal

There 3 types of Account:-
1. Personal Account - Debit the receiver
Credit the giver
Eg. Name of the person- A/C Kishore,A/C Vedant
---------------------------------------
2. Real Account - Debit what comes in
Credit what goes out
Eg.Property A/c, CashA/c
----------------------------------------
3. Nominal Account - Debit all expenses & losses
Credit all profits & incomes
Eg. Salary A/c, Rent paid

Answer / sejalpatel

There are three types of accounts:-
1 Personal
2 Real
3 Nominal

Answer / ravi

THERE ARE THREE TYPES OF ACCOUNT:-
1.PERSONAL ACCOUNT:-IN THIS ACCOUNT THE DEBIT(DR)IS
RECIEVER AND CREDIT(CR) IS GIVER
AND THE OWNWR IS CALLED CAPITAL
FOR EX.
QUS- ROHAN HAS DEPOSITED OF Rs.1,000.00 INTO BANK 1 JAN
2011 IN PNB?
ANS- RULES IS PERSONAL ACCOUNT
DATA ENTRY-
BANK A/C 1,000.00
TO ROHAN 1,000.00
2. REAL ACCOUNT-IN THIS ACCOUNT WE SEE THAT WHATS COMES
INTO AND WHATS GOING ONTO FOR ANY PERPOSE (Ex.
BUSINESS,LAND,BUILDING,ETC)
FOR EX.
QUS-RAM HAS DEPOSET Rs.50,000.00 ON 10 SEP 2010 FOR
BUSINESS?
ANS-RULES IS RAEL ACCOUNT (BECAUSE USE NOT FOR PERSONAL )
DATA ENTRY-
BANK A/C 50,000.00
TO RAM`S A/C 50,000,00
3.NOMINAL ACCOUNT-IN THIS ACCOUNT DEBIT IS ALL EXPENSESS
AND LOSSES AND CREDIT IS ALL GAIN,PROFIT(ALSO DISCOUNT)
(ALL RENT BILL COMITION PROFIT)

QUS-RAMESH HAS MADE FEW EXPEND RENT,ELECTRIC BILL AND
COMISSION Rs. 10,000.00,4,500.00 AND 2,500 RESPECTIVELY AS
ON DATE 15 MARCH 2011?
ANS-RULES IS NOMINAL; ACCOUNT
DATA ENTRY-
RENT A/C 10,000
EL. BILL A/C 4,500
COMMI. 2,500
TO CASH 17,000.00

Answer / rajasekhar reddy/n

personal a/c : debit is the recever
credit is the giver

Real a/c :debit what comes in
credit what goes out

Nominal a/c : debit all incomes gains
credit all expenses and loss

Answer / sushant

The business transactions can be grouped under three types of accounts :

Personal accounts
Real accounts
Nominal accounts

Personal Accounts

Personal accounts are the accounts of persons or firms that the business deals with. These are primarily of three types :

Natural person’s account : These are accounts of real persons who transact with the business in various capacities. The proprietor’s account and the accounts of customers are some examples of natural person’s accounts
Artificial person’s accounts : These are accounts of firms and entities that transact with the business. The accounts of a limited companies or banks that are not real persons are the examples of artificial person’s accounts.
Representative personal account : These are accounts that represent certain person or persons. If a business has not paid the rent of a number of shops for the past two months then all landlords are creditors of the business and the amount due to them is recorded under a common head called Rent Outstanding Account. This is a representative personal account. Other examples of representative personal accounts are Interest Outstanding and Interest Paid in Advance accounts.

Real Accounts

Real accounts are the accounts of the properties, assets and possessions of a business. These can be of two types :

Tangible Real accounts: These are accounts of things that can be touched, measured, sold or purchase. Examples of tangible real accounts are land account, furniture account and cash account.

Intangible Real accounts: These are accounts of things that cannot be touched in the physical sense but can be measured in terms of money value. Trademark or patent rights are examples of intangible real accounts.

Nominal Accounts

Nominal accounts are the accounts of each head of expense or income of a business. They are used to define the nature of the transactions; hence, they are also called fictitious accounts. Without nominal accounts, it is very difficult for the management to find out where the money was spent. As these accounts are used to define the nature of the transaction they are nominal accounts.

Certain rules have to be followed for the different accounts to decide which account has to be debited and which has to be credited. It is also important to understand whether the transaction has to be posted n the debit side or the credit side of an account.

Answer / neet

The business transactions can be grouped under three types of accounts :

Personal accounts
Real accounts
Nominal accounts
Personal Accounts

Personal accounts are the accounts of persons or firms that the business deals with. These are primarily of three types :

Natural person’s account : These are accounts of real persons who transact with the business in various capacities. The proprietor’s account and the accounts of customers are some examples of natural person’s accounts
Artificial person’s accounts : These are accounts of firms and entities that transact with the business. The accounts of a limited companies or banks that are not real persons are the examples of artificial person’s accounts.
Representative personal account : These are accounts that represent certain person or persons. If a business has not paid the rent of a number of shops for the past two months then all landlords are creditors of the business and the amount due to them is recorded under a common head called Rent Outstanding Account. This is a representative personal account. Other examples of representative personal accounts are Interest Outstanding and Interest Paid in Advance accounts.
Real Accounts

Real accounts are the accounts of the properties, assets and possessions of a business. These can be of two types :

Tangible Real accounts: These are accounts of things that can be touched, measured, sold or purchase. Examples of tangible real accounts are land account, furniture account and cash account.

Intangible Real accounts: These are accounts of things that cannot be touched in the physical sense but can be measured in terms of money value. Trademark or patent rights are examples of intangible real accounts.

Nominal Accounts

Nominal accounts are the accounts of each head of expense or income of a business. They are used to define the nature of the transactions; hence, they are also called fictitious accounts. Without nominal accounts, it is very difficult for the management to find out where the money was spent. As these accounts are used to define the nature of the transaction they are nominal accounts.

Certain rules have to be followed for the different accounts to decide which account has to be debited and which has to be credited. It is also important to understand whether the transaction has to be posted n the debit side or the credit side of an account

Answer / n.babu

there are 3types of accounts. 1.personal a/c, 2.real a/c, 3.nominal a/c.

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