Personal account examples
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 December 2011
Brief explaination of Personal Accounts with examples.
06 December 2011
personal account is the account of personal nature, for example Debtors and creditors.
Accounting rule : debit the receiver and credit the Giver.
Accounting rule : debit the receiver and credit the Giver.
17 March 2012
There are two types of personal accounts one is for business transaction and the other for non business transaction. For business transaction the expert has correctly given you the advise and example as regards the personal transaction also the same rule will apply but all accounts shall be in the individual names of the persons say Rajesh, Dinesh etc.
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