Examples each for golden rules of accounting
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Answer Posted / venkatesan
Personal Account:- It is individual account
Real Account:- It is business using for asset purchase
Nominal Account: It is Rent, salary paid of exp. and
advance received
| Is This Answer Correct ? | 597 Yes | 39 No |
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pass the journal as wellas ledger entries off the foll 1st jan :> started businress with cash rs 1,20,000 & goods worth rs 60,000. 2nd jan > cash purchases rs 50,000. 4th jan >cash sales rs 40,000. 6th jan > purchase good's from sonali on credit worth rs 30,000 at 10 % trade discount. 8th jan> sold sood's to komal on credit rs 20,000 at 10% trade discount. 10th jan > paid rent by a cheque rs 50,000. 12th jan > good's worth rs 4,000 lossed by fire. 14th jan > good's worth rs 3,000 withdrawn from business for personal use. 16th jan > good's worth rs 2,000 distributed as free samples. 18th jan > good's worth rs 1,000 exchange for furniture.
