Types of accounts
There are three types of accounts maintained for transactions
👉Real accounts
👉Personal accounts
👉Nominal accounts
1- Real accounts
वास्तविक खाता
Real accounts are relating to assets and properties
For bussiness concern
Include tangible and intangible
Accounts
Example
Land
Building
Cash
Purchase
Goodwill
2-Personal accounts
व्यक्तिगत खाता
Personal accounts related to persons.
Example
Suppliers
Customers
Lenders
3- Nominal accounts
अवास्तविक खाता
Nominal accounts are related to incomes & expenses gain & losses of a business concern
Examples
Salary account
Commission account
Dividend
Golden rule of accounting
Real accounts
What comes in Dr
What Goes out. Cr
Personal accounts
The receiver Dr
The giver Cr
Nominal accounts
Expenses and losses Dr
Incomes and Gains Cr
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