Real assets

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Querist : Anonymous

Querist : Anonymous (Querist)

15 July 2013 can anybody define "real assets ".
whats the correct definition of real assets?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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15 July 2013 Real assets are those which produce or contribute in generating revenue in 1 way or other.

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Querist : Anonymous

Querist : Anonymous (Querist)

16 July 2013 thanxx sir ...for ur answer ...

I have also one more question...
Whether purchase a/c is
(a)real account or (b) nominal a/c ..
If its a real a/c why it is mentioned in trading and P/L ? or if its a nominal than what about the entry
* goods lost due to fire a/c .......
To purchase a/c .......
(being goods lost due to fire)

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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16 July 2013 it is a nominal a/c.

do not adjust in purchase a/c instead stock a/c should be mentioned.

goods loss due to fire will be trf to p&l a/c at the year end.

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Querist : Anonymous

Querist : Anonymous (Querist)

16 July 2013 thnxx sir ...
this means that
*goods lost in fire a/c..........
To purchase a/c ..........
is a wrong entry ...

* last doubt sir .....why opening stock is entered in trial balance...closing stock is not used ?

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