What is the types of accounts & it's rules ?
Answers were Sorted based on User's Feedback
Answer / darvesi
General we have 3 types of accounts.
1.Pesonnel account: it deals persons account
Debit: Receiver
Credit: Givever
2.Real accounts: It also calls as properties account
Debit: What comes in
Credit: What goes out.
3.Nominal Accounts: Expenses accounts
Debit; All expenses and losses
Credit:All revenues and incomes.
Is This Answer Correct ? | 10 Yes | 0 No |
Accounts are classified into 3 types they are as follows 1)
Personnel Accounts; 2) Real Accounts; & 3) Nominal Accounts.
Personal Accounts:
Debit: The Receiver
Credit: The Giver
Real Accounts:
Debit: What Comes In
Credit: What Goes Out
Nominal Accounts:
Debit: Expenses and Loses
Credit: Incomes and Gains
Is This Answer Correct ? | 8 Yes | 0 No |
Answer / g.deepika
accounts are of two types:
1.Personal accounts
2.impersonal accounts
1.personal account:its deals with person name,company etc..
Rule:debit the receiver, credit the giver
2.impersonal accounts are of two types
a)Real account
b)nominal account
real account deals properties,in short account of all assets
rule:debit what comes in credit what goes out
Nominal account deals in expenses,incomes,profit of a
particular co
rule:debit all expenses and losses credit all incomes and
gains
Is This Answer Correct ? | 2 Yes | 0 No |
is accounting a science or an art?
• What is BRS, with an example?
7 Answers Accenture, College School Exams Tests, Genpact, Intelenet, Mellon,
Classification of Bank A/c and Bank OD account
EXPAND___________IMA
A company maintains a margin of safety of 25% on its current sales and earns a profit of Rs. 30 lakhs per annum. If the company has a profit volume (P/V) ratio of 40%, its current sales amount to A. Rs. 200 lakhs; B. Rs. 300 lakhs; C. Rs. 325 lakhs; D. None of the above.
what is audit mean? what is vouching? how to finalize the account? what is the meaning of + cast < as per last year auditor’s a/c ^ as per ledger JV journal voucher PV payment voucher AJV authorised journal voucher APV authorised journal voucher RV receiving voucher PCV petty cash voucher CPV cash payment voucher DN debit note DO delivery order PO purchases order CN credit note PS policy schedule RPS renewal policy schedule B bill Cx cross check nCx cannot cross check CB cash bill L list/letter SRF stock requisition form R report OR office report INV invoice DS deposit slip AB assessment bill Re receipt ECF entertainment claim form ATRF air ticket requisition form
Where we show Service Tax Due ( Debit Balance ) in Balance Sheet?
1. WHAT DOES SALES ON THE DEBIT SIDE OF A TRAIL BALANCE MEAN AND WHAT IS THE TREATMENT IN PREPARING TRADING PROFIT AND LOSS ACCOUNT. 2. IS IT POSSIBLE TO HAVE SALES ON THE DEBIT SIDE OF A TRIAL BALANCE.
How Many kind of expenses or Income will come under direct expenses or Income ?
what is repo market?
what do you mean by BPO,KPO
what is the meaning of Processing Vendor/Employee payments