|
Personal Accounts are the accounts of persons or organisations with whom the organisation deals in various capacities.....
|
|
Real accounts are the accounts of assets which the company owns and accounts of liabilities....
|
|
Nominal Accounts are the accounts of Incomes, Expenses, Losses and Gains. Nominal Accounts consist of the following types of accounts....
|
|
The principal of Double Entry system of Accounting is “Every debit has a corresponding credit” hence the total of all debits has to be equal to the total of all credits.....Advantages of Double Entry system of Accounting...
|
|
Trial Balance is a summary of all the balances of various ledger accounts and Cash/Book accounts of an organisation....
|
