query

665 views 8 replies

pls pls tel me the nature of these accounts whether nominal or real or personal

Acceptances endorsements n other obligations account

rebate on bill discounted account

discount on bills ac

Replies (8)

the below two are nominal a/c

rebate on bill discounted account

discount on bills ac


 

All the three accounts are nominal a/c

the below 2 are nominal...

(1) rebate on bill discounted account

(2) discount on bills ac

 

not aware of abt the 1st one...

1.  Acceptances endorsements n other obligations account - [No Idea]

2. rebate on bill discounted account - Nominal Account

3.discount on bills ac - Nominal Account 

Sorry guys... I think Acceptances endorsements n other obligations account is a REAL ACCOUNT

The real accounts related to accounts that are intangible like assets, reserves, capital, and liabilities whose balances are carried to next operational cycle are real accounts. The accounting rule that is used for this type of accounts are "debit what comes in" and "credit what goes out".

thanks a lot to u all I dont go for tution n all so if u can help me like that it will be great...thanx

pls try to find out even the first one and please tell me the nature of these accounts....bills for collection ac,

Bills for collection A/c is a REAL ACCOUNT.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Related Threads
Loading