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.
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