What is the nature of Debenture A/c , Revaluation A/c , P/L Appropriation A/C - real , personal , or nominal ??
Personal A/c means : DEBIT the receiver & CREDIT the giver.
Nominal A/c means : DEBIT all expenses and losses & credit all gains and incomes.
Personal ACCOUNTS: Accounts dealing in the name of persons, company etc.
Real Accounts: Accounts dealing in the name of which one exists. example Cash, Furniture, etc.
Nominal Accounts: ACCOUNT dealing with one we cannot see, touch - example: Salary, Electricity Charges, Rent etc.
Debenture a/c ===> personal a/c
Revaluation a/c ===> nominal a/c
P/L Appropriation ==> nominal a/c
Nominal A/c means : DEBIT all expenses and losses & credit all gains and incomes.
Personal ACCOUNTS: Accounts dealing in the name of persons, company etc.
Real Accounts: Accounts dealing in the name of which one exists. example Cash, Furniture, etc.
Nominal Accounts: ACCOUNT dealing with one we cannot see, touch - example: Salary, Electricity Charges, Rent etc.
Debenture a/c ===> personal a/c
Revaluation a/c ===> nominal a/c
P/L Appropriation ==> nominal a/c