Accountancy - Accounting rules | 11th Accountancy : Chapter 3 : Books of Prime Entry
Chapter: 11th Accountancy : Chapter 3 : Books of Prime Entry
Accounting rules
Classify the following into personal, real and nominal accounts.
Accounting rules
All the above classified accounts have two rules
each, one related to debit and another related to credit for recording the
transactions which are termed as golden rules of accounting or rules of double
entry system.
Illustration 7
Classify the following into personal, real and
nominal accounts.
(a) Capital
(b) Building
(c) Carriage
inwards
(d) Cash
(e)
Commission received
(f) Bank
(g) Purchases
(h) Chandru
(i)
Outstanding wages
Solution
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11th Accountancy : Chapter 3 : Books of Prime Entry