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,

𝐉𝐨𝐮𝐫𝐧𝐚𝐥 𝐞𝐧𝐭𝐫𝐢𝐞𝐬 𝐂𝐡𝐚𝐦𝐩𝐢𝐨𝐧 𝐒𝐞𝐫𝐢𝐞𝐬 𝐏𝐥𝐚𝐲𝐥𝐢𝐬𝐭 : 👇

For Free Notes/PDF/ Test and All-Important stuff 👇

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐀𝐜𝐜𝐨𝐮𝐧𝐭𝐬 𝐅𝐮𝐧𝐝𝐚 𝐀𝐩𝐩 𝐚𝐭 𝐏𝐥𝐚𝐲𝐬𝐭𝐨𝐫𝐞
👇

𝐀𝐜𝐜𝐨𝐮𝐧𝐭𝐬 𝐅𝐮𝐧𝐝𝐚 𝐀𝐩𝐩 𝐟𝐨𝐫 𝐢𝐨𝐬 (𝐔𝐬𝐞 𝐨𝐫𝐠𝐚𝐧𝐢𝐬𝐚𝐭𝐢𝐨𝐧 𝐂𝐨𝐝𝐞 𝐅𝐔𝐍𝐃𝐀)
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*𝐒𝐡𝐚𝐫𝐞, 𝐒𝐮𝐩𝐩𝐨𝐫𝐭, 𝐒𝐮𝐛𝐬𝐜𝐫𝐢𝐛𝐞!!!* 👇

 
𝐒𝐭𝐞𝐩𝐬 𝐓𝐨 𝐭𝐚𝐤𝐞 𝐭𝐡𝐞 𝐓𝐞𝐬𝐭
1. Download “Accounts Funda” App (Android Phone)
2. Register as a Student
3. Go to Course : “Class 11 Accounts | App Access | CBSE/ISC | Full Course | 2022-23 | 160 Hours | 400 Questions”
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

𝐊𝐞𝐲 𝐅𝐞𝐚𝐭𝐮𝐫𝐞 𝐨𝐟 𝐏𝐞𝐧 𝐝𝐫𝐢𝐯𝐞 / 𝐌𝐞𝐦𝐨𝐫𝐲 𝐂𝐚𝐫𝐝 𝐕𝐢𝐝𝐞𝐨 𝐋𝐞𝐜𝐭𝐮𝐫𝐞 𝐨𝐟 𝐂𝐥𝐚𝐬𝐬 11 𝐭𝐡 𝐂𝐥𝐚𝐬𝐬 𝐛𝐲 𝐂𝐀 𝐃𝐞𝐞𝐩𝐚𝐤 𝐋𝐚𝐥𝐰𝐚𝐧𝐢

• Full Syllabus Covered
• 400 Question Solved in over 160 hours of video Lecture
• Very Detailed Lectures
• Each topic has been explained in most Simplified Way Possible
• Question Bank Book Covering all the question that can be asked in exam has been explained in video lecture
• All Major book Like DK goel and TS grewal question can be easily Solved
• Focus is on Strong Fundamental and Concept (No Mugging ever)
• Query can be asked over phone, WhatsApp or Video Call (Always available for Students)
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𝐀𝐛𝐨𝐮𝐭 𝐃𝐞𝐞𝐩𝐚𝐤 𝐋𝐚𝐥𝐰𝐚𝐧𝐢
• Deepak Lalwani, Chartered Accountant (CA) is known for his ability to explain accounting in a clear, concise, Simple and thorough manner.
• He can be reached at 9549168168 ( via Call or WhatsApp)

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...
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