Personal account examples

This query is : Resolved

Report Abuse Follow Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

06 December 2011 Brief explaination of Personal Accounts with examples.

CA. Rajesh P. Ahir

CA. Rajesh P. Ahir (Expert)
Follow

06 December 2011 personal account is the account of personal nature, for example Debtors and creditors.

Accounting rule : debit the receiver and credit the Giver.

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
Follow

17 March 2012 There are two types of personal accounts one is for business transaction and the other for non business transaction. For business transaction the expert has correctly given you the advise and example as regards the personal transaction also the same rule will apply but all accounts shall be in the individual names of the persons say Rajesh, Dinesh etc.

Online classes for CA CS CMA