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प्रश्न
How are personal accounts classified?
टीपा लिहा
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उत्तर
Personal account: Account relating to persons is called personal account. The personal account may be natural, artificial or representative personal account.
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Approaches of Recording Transactions
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संबंधित प्रश्न
Accounting equation signifies ___________.
A firm has assets of ₹ 1,00,000 and the external liabilities of ₹ 60,000. Its capital would be ___________.
The incorrect accounting equation is _____________.
Real account deals with ____________.
What is the accounting equation?
What is an Account?
Classify the accounts with suitable examples.
What are the three different types of personal accounts?
For the following transactions, show the effect on the accounting equation.
- Raj started business with cash - ₹ 40,000
- Opened bank account with a deposit of - ₹ 30,000
- Bought goods from Hari on credit for - ₹ 12,000
- Raj withdrew cash for personal use - ₹ 1,000
- Bought furniture by using debit card for - ₹ 10,000
- Sold goods to Murugan and cash received - ₹ 6,000
- Money withdrawn from bank for office use - ₹ 1,000
Create an accounting equation on the basis of the following transactions:
- Started business with cash ₹ 80,000 and goods ₹ 75,000
- Sold goods to Shanmugam on credit for ₹ 50,000
- Received cash from Shanmugam in full settlement ₹ 49,000
- Salary outstanding ₹ 3,000
- Goods costing ₹ 1,000 given as charity
- Insurance premium paid ₹ 3000
- Out of insurance premium paid, prepaid is ₹ 500
