Answer Posted / s. s. pathak

Basically, Accounts are nothing but according to Golden
Rule there are three types of the account-
Personal a/c
Real A/c
Nominal A/c
Personal A/c- Those accounts that denotes the transactions
with any person are called personal account.Such as,- Ram's
a/c; Mohan's a/c S.K & sons a/c; LIC CO. a/c
It is futher categorised into three categories-
1.Natural Personal A/c
2.Artificial Personal A/c
3.Representative Per. A/c
1.Natural Per. A/c:- Those accounts that denotes the
transactions with any natural person are called Natural
per. A/c

2.Artificial per. A/c:- Those accounts that denotes the
transaction with any firm, Company, Associations etc are
called Artificial personal A/c

3.Representative Per. A/c:- All those incomes and
expenditures which are outstanding or prepaid(dues/Advance)
for the currentf financial period are called representative
personal a/c

Real A/c:-Those accounts that denotes the transactions

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EXPAND______________ICC

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From the following find out a. Profit Volume ratio b. Break even point c. Sales for 40% P/V Ratio d. Margin of safety from the sales Rs 3,00,000 e. Net profit from the sales of Rs 3,00,000 f. Required sales for the new profit of Rs 70,000 g. Required sales for the net profit of Rs 70,,000 after tax, the corporate income tax being 40% h. Additional sales required to convert an increase of Rs 3000 p.a. in the sales manager salary Sale 2,00,000 Variable Overheads 1,50,000 Profit 50000 Fixed overheads 15000 Net profit 35000 Sl No Heads of Account Debit Rs Credit Rs 1 Drawing and Capital 750 15,000 2 Stock as on 01.01.2009 69720 3 Bills Receivable and bills payable 1000 1180 4 Returns 300 320 5 Purchases and Sales 4500 8300 6 Wages 70 7 Discount 30 8 Salaries 200 9 Canara Bank Shares 3000 10 Insurance 120 11 Building 3000 12 Furniture 700 13 Debtors and Creditors 600 1300 14 Cash in Hand 470 15 Overdraft at bank 900

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