Types of accounts

Account:-

            An account is a ledger record in a summarised form of all the business transactions related to the particular person, thing or an items. Example:- Cash a/c, Kaushal a/c, Machinary a/c, land & Building a/c

Debit and Credit side of the accounts:-

All accounts are divided into two sides:

                        The Left hand side of the account is called “Debit Side” and the right hand side is called “Credit Side”.

Format of an account: 

                              as a cash a/c

          Dr.                                                Cash a/c                                                    Cr.

Date Apr.	Particulars	J F	Amount (₹)	Date Apr.	Particulars	J F	Amount       (₹)
01	To capital a/c		5,00,000	02	By Purchases a/c		2,00,000
03	To Sales a/c		3,50,000	05	By Bank a/c		1,00,000
05	To Shyam a/c		2,00,000	10	By Electricity Bills a/c		2,000
15	To Interest Received a/c		5,000	20	By Computer a/c		20,000
				25	By Rent a/c		5,000
				30	By Salary a/c		10,000
				30	By Balance c/d		7,18,000
	Total		10,55,000		Total		10,55,000
1 May	To balance b/d		7,18,000

Types of accounts:-

There are three types of account:

1) Personal A/c   2) Real A/c  3) Nominal A/c

Personal A/c:- Account related to persons (Artificial & Natural Persons).Ex.-                                  Kaushal, Ravi,   RCT Skill & Apna cyber cafe A/c etc.

Real A/c:-   Account related to assets. Ex.- Cash, Building,   Computer, goodwill, &                  Trade-Mark etc.

Nominal A/c:- Account related to Expenses and Incomes. Ex-   Rent, Salary,                            Insurace, Wages and Interest   received a/c etc.