Professional Documents
Culture Documents
Personal Account
Real Account
Nominal Account
The account which relate to an individual , firm , company ,
institution , account of university.
Rule : Debit : the receiver
Credit : the giver
Types of Personal Account :
1. Natural Personal Account : Account of natural person , means
the account of human beings. E.g., Mohan a/c
2. Artificial Personal Account : in this a/c do not have physical
existence as human beings but they work as personal a/c. e.g.,
Any firm a/c , LTD co. a/c
3. Representative Personal Account : when an account represent a
particular person or group persons.
e.g., salaries outstanding a/c
The account of all those things whose values can be
measured in terms of money and which are the properties of
business are termed as real account.
Rule : Dr. = what comes on
Cr. = what goes out
Types of Real account :
1. Tangible Real A/C : This a/c of those things which can be
touches , felt , measured , purchased sold etc. e.g., cash a/c
2. Intangible Real A/C : This a/c represent such things which
can not be touch , but there values can be measured in
terms of money. E.g., goodwill a/c
These account include the a/c of the all
expenses and incomes. e.g.,
Expenses : salary , rent paid
Income : commission , interest
Rule : Debit : All Expenses
Credit : All Income