A/c types

Mamta (CA Final) (62 Points)

24 March 2011

can anyone tell me the nature of following accounts...

1. PBD

2. PDD

3. provision for depreciation

4. executor's a/c

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6 Replies

Madhusudan Kabra (knowledge seeker) (1779 Points)
Replied 24 March 2011

first 3 are provision ( current liability ) a/c and last one is personal a/c

Regards

Madhusudan Kabra

Sindhuja (Articled Assistant) (36 Points)
Replied 24 March 2011

Does provision for depreciation is a current liability?

usually it is accumalated year n year na?

Aren't d first 3 nominal accounts?

CA Saroj Kumar (Keen to learn something new every moments) (2588 Points)
Replied 25 March 2011

first three will be nominal account

and last one is personal A/C.

Siyaram Kumar (CA FINAL/ Jr. Superintendent(Accounts) IIT BHU VARANASI) (97 Points)
Replied 25 March 2011

Originally posted by : saroj kumar
	first three will be nominal account and last one is personal A/C.

No First three will never be nominal account. first of all, all nominal accounts are amortised in trading and P & L account.

Only Personal and Real accounts are carried to Balance sheet. and above three are the parts of Current liability & Provision.

Last is personal account.

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Madhusudan Kabra (knowledge seeker) (1779 Points)
Replied 25 March 2011

Originally posted by : siya.
	Originally posted by : saroj kumar first three will be nominal account and last one is personal A/C. No First three will never be nominal account. first of all, all nominal accounts are amortised in trading and P & L account. Only Personal and Real accounts are carried to Balance sheet. and above three are the parts of Current liability & Provision. Last is personal account.