Types of accoun ts
Per sonal account: Personal accounts are the accounts of persons, firms, concerns and
institutions which the businessmen deal.
Pr inciples: Debit the receiver
Credit the giver
Real Account: These are the accounts of things, materials, assets & properties. It has
physical existence which can be seen & touch.
Ex. Cash, Sale, Purchase, Furniture, Investment etc.
Pr inciples: Debit what comes in
Credit what goes out
Nom inal account: Nominal account is the account of services received (expenses and
Losses) and services given (income and gain)
Ex. Salary, Rent, Wages, Stationery etc.
Pr inciples: Debit all expense/losses
Credit all income/ gains
Per sonal account: Personal accounts are the accounts of persons, firms, concerns and
institutions which the businessmen deal.
Pr inciples: Debit the receiver
Credit the giver
Real Account: These are the accounts of things, materials, assets & properties. It has
physical existence which can be seen & touch.
Ex. Cash, Sale, Purchase, Furniture, Investment etc.
Pr inciples: Debit what comes in
Credit what goes out
Nom inal account: Nominal account is the account of services received (expenses and
Losses) and services given (income and gain)
Ex. Salary, Rent, Wages, Stationery etc.
Pr inciples: Debit all expense/losses
Credit all income/ gains
