Personal , Real and Nominal Accounts | Type of Accounts | #1 Journal Entries Accounting | Class 11

Types of accounts and Golden Rules of Accounting in most easy way
Real, Personal, Nominal Accounts and Golden Rules of Accounting. Golden rules of Accounts, How to pass journal entries, what is personal accounts , what is nominal accounts, what is real accounts,
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𝐉𝐨𝐮𝐫𝐧𝐚𝐥 𝐞𝐧𝐭𝐫𝐢𝐞𝐬 𝐂𝐡𝐚𝐦𝐩𝐢𝐨𝐧 𝐒𝐞𝐫𝐢𝐞𝐬 𝐏𝐥𝐚𝐲𝐥𝐢𝐬𝐭 : 👇
• Personal , Real and No...
For Free Notes/PDF/ Test and All-Important stuff 👇
Telegram Channel Link is t.me/Class11AF
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐀𝐜𝐜𝐨𝐮𝐧𝐭𝐬 𝐅𝐮𝐧𝐝𝐚 𝐀𝐩𝐩 𝐚𝐭 𝐏𝐥𝐚𝐲𝐬𝐭𝐨𝐫𝐞
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𝐖𝐞𝐛𝐬𝐢𝐭𝐞: AccountsFunda.com
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𝐒𝐭𝐮𝐝𝐞𝐧𝐭𝐬 𝐑𝐞𝐯𝐢𝐞𝐰 : accountsfunda....
𝐂𝐥𝐚𝐬𝐬 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐬 : • Class 12 Accounts Clas...
 
𝐒𝐭𝐞𝐩𝐬 𝐓𝐨 𝐭𝐚𝐤𝐞 𝐭𝐡𝐞 𝐓𝐞𝐬𝐭
1. Download “Accounts Funda” App (Android Phone)
a. play.google.co... ( Android)
b. apps.apple.com... ( Apple ,Enter ORG Code : FUNDA)
2. Register as a Student
3. Go to Course : “Class 11 Accounts | App Access | CBSE/ISC | Full Course | 2022-23 | 160 Hours | 400 Questions”
Link is on-app.in/app/o...
4. Click on Content
5. Click on “Chapter 5: Journal Entries”
6 Attempt the Test
Real Account
• Represent the Assets and Properties Accounts:
• Classified into
1. Tangible Accounts: Land, Building, Machinery, Cash, Furniture, Vehicle Account
2 Intangible Accounts: Goodwill, Patents, Trademark etc
• Also known as balance sheet account as Real account is not closed at the end of the accounting year and are transferred to the Balance sheet
• Generally, have a Debit balance only
• Golden Rules of Accounting for Real Account
Debit: What’s comes in
-Credit: what’s goes out
• Example: Furniture Purchased for Cash Rs 5,000
Furniture Dr ( Coming in) 5,000
To Cash ( Going Out) 5,000
Personal Account:
• It Represent the person or Business (Firms, Proprietorship Firm, Company etc)
• Can be classified into three
1. Natural Person: Vaibhav, Ram, Neha
2. Artificial Person: Reliance Industries, Wipro Ltd , HDFC Bank
3. Representative Company: Outstanding Expense , Outstanding Salary , Prepaid Rent
• They can have Debit or Credit balance
• Golden Rules of Accounting for Personal Account
-Debit the Receiver
-Credit the Giver
• Example: Cash Given to Neha Rs3,000
• Neha Account Dr (Receiver of Cash) 3,000
To Cash (Going Out) 3,000
Nominal accounts
• Related to Income / Gain and Expense /Losses Account
• Golden Rules of Accounting for Real Account
-Debit: All Expense and Losses
-Credit: All Income and Gain
• Example: Salary Rs 12,000 Paid
Salary A/c Dr ( Expense ) 12,000
To Cash ( Going Out) 12,000
#GoldenrulesofAccounting
#PersonalAccountRealAccountNominalAccount
#rulesofdebitandcredit
𝐅𝐮𝐥𝐥 𝐂𝐨𝐮𝐫𝐬𝐞 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞
Class 11 : accountsfunda....
For Full Class 11 /12 Video Please Visit www.AccountsFunda.com or Call / WhatsApp at 9549168168 for Class 11th and 12th (CBSE) Accounts.
𝐊𝐞𝐲 𝐅𝐞𝐚𝐭𝐮𝐫𝐞 𝐨𝐟 𝐏𝐞𝐧 𝐝𝐫𝐢𝐯𝐞 / 𝐌𝐞𝐦𝐨𝐫𝐲 𝐂𝐚𝐫𝐝 𝐕𝐢𝐝𝐞𝐨 𝐋𝐞𝐜𝐭𝐮𝐫𝐞 𝐨𝐟 𝐂𝐥𝐚𝐬𝐬 11 𝐭𝐡 𝐂𝐥𝐚𝐬𝐬 𝐛𝐲 𝐂𝐀 𝐃𝐞𝐞𝐩𝐚𝐤 𝐋𝐚𝐥𝐰𝐚𝐧𝐢
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• Deepak Lalwani, Chartered Accountant (CA) is known for his ability to explain accounting in a clear, concise, Simple and thorough manner.
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आपको अगर कोई सवाल है तोह जरूर कमैंट्स में हमें बताईये - अगर वीडियो अच्छा लगा तो लिखे और Subscribe जरूर कीजियेगा

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thanks rajeshwar sahu..made me smile :)