gunesh
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Hi I am preparing for CA exam. I am having doubt about accounting. Can I know, What is the difference between personal account real account and nominal account?
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acharya
answered
1.Tangible real account - assets that can be touched and felt. eg: plant, machinery, computer, etc..,
2.intangible real account - assets that can't be touched/ no physical shape. eg: goodwill, patent, etc..,.
Nominal account - **expenses, losses, incomes and gains** of the business comes under this account.
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narahari
answered
1.Natural persons - Eg: ganesh a/c, priya a/c, shyam a/c.
2.Artificial persons - firm/companies/bank/cooperative society a/c.
3.representative personal a/c - outstanding expenses and accrued or prepaid incomes comes under this.
real account - **assets** of the business is recorded under this account. it is divided into tangible and intangible real account.
R.Manimegalai
answered
**Personal account** - It deals with `**persons**`. It is of three types:
1.Natural persons - Eg: ganesh a/c, priya a/c, shyam a/c.
2.Artificial persons - firm/companies/bank/cooperative society a/c.
3.representative personal a/c - outstanding expenses and accrued or prepaid incomes comes under this.
**real account** - `**assets**` of the business is recorded under this account. it is divided into tangible and intangible real account.
1.Tangible real account - assets that can be touched and felt. eg: plant, machinery, computer, etc..,
2.intangible real account - assets that can't be touched/ no physical shape. eg: goodwill, patent, etc..,.
**Nominal account** - `**expenses, losses, incomes and gains**` of the business comes under this account.
