Microsoft Excel with AI: Zero to Hero
Certification Course on Practical Filing of Income Tax Returns
Please can you tell me what is the type of account Bills Payable is?? Is it real or personal account??
It is a personal account, as liability to a person exists.
Bills Payable is a Personal Account.
Correct , i agree with above two comments
I hav little query,
Plz justify your answer with below context;
GOLDEN RULES OF ACCOUNTING
Personal Account:
Debit the receiver Credit the giver Real Account :
Debit what comes in Credit what goes out
BILLS PAYABLE IS A REPRESENTATIVE PERSONAL ACCOUNT
CAN REAL ACCOUNT AND NOMINAL ACCOUNT IS ALSO A REPRESENTATIVE ACCOUNT?
no
Your are not logged in . Please login to post replies Click here to Login / Register
More recent discussions | Post
MentorsWorld Ventures Private Limited
Ahmedabad
Others
Vardhaman Group of India
Pimpri Chinchwad
CA Inter
Karia Overseas
CA
Search Synergy
Mumbai
KPRS And Associates
New Delhi
RAHUL KHANDEBHARAD & ASSOCIATES
Nashik
B.Com
Malik Sunil & co
CA Foundation
SMJ global advisors pvt ltd
India's largest network for finance professionals
Alternatively, you can log in using: