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Give some example of real,personal & nominal accounts , &
which kind of a/c reflect p&l & BS.
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Answer Posted / amarendra sarangi
Personal account-debit is the receiver & credit is the giver.
means 1. natural persons -like pinku.
2.artificial persons-government,companies.
3.representative personal account-like outstanding liability drawings etc.
REAL ACCOUNT-which relates to assets not firms debts.means debit what comes in credit what goes out.
like-cash in hand,land.
nominal account-In this account debit all expenses and losses,credit all gains and incomes.
like-salary,bad debts etc.
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