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प्रश्न
What are the three different types of personal accounts?
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उत्तर
Under the double-entry system of book-keeping, for the purpose of recording the various financial transactions, the accounts are classified as personal accounts and impersonal accounts.
- Natural person’s account: Natural person means human beings.
Example: Vinoth account, Malini account. - Artificial person’s account: Artificial person refers to persons other than human beings recognized by law as persons. They include business concerns, charitable institutions, etc.
Example: BHEL account, Bank account. - Representative personal accounts: These are the accounts that represent persons natural or artificial or a group of persons.
Example: Outstanding salaries account, Prepaid rent account. When expenses are outstanding, it is payable to a person. Hence, it represents a person.
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संबंधित प्रश्न
‘Cash withdrawn by the proprietor from the business for his personal use’ causes ____________.
A firm has assets of ₹ 1,00,000 and the external liabilities of ₹ 60,000. Its capital would be ___________.
Real account deals with ____________.
Which one of the following is representative personal account?
Prepaid rent is a ____________.
What is the accounting equation?
Write any one transaction which increases one asset and decreases another asset
What is an Account?
What will be the effect of the following on the accounting equation?
- Sunil started business with ₹ 1,40,000 cash and goods worth ₹ 60,000
- Purchased furniture worth ₹ 20,000 by cash
- Depreciation on furniture ₹ 800
- Deposited into bank ₹ 40,000
- Paid electricity charges through net banking ₹ 500
- Sold goods to Ravi costing ₹ 10,000 for ₹ 15,000
- Goods returned by Ravi ₹ 7,500 (costing ₹ 5,000)
Create an accounting equation on the basis of the following transactions:
- Rakesh started business with a capital of ₹ 1,50,000
- Deposited money with the bank ₹ 80,000
- Purchased goods from Mahesh and paid through debit card ₹ 25,000
- Sold goods (costing ₹ 10,000) to Mohan for ₹ 14,000 who pays through debit card
- Commission received by cheque and deposited the same in the bank ₹ 2,000
- Paid office rent through ECS ₹ 6,000
- Sold goods to Raman for ₹ 15,000 of which ₹ 5,000 was received at once
