What is personal account, Accounting Basics

Personal Account is an account for use by an individual for their own requirements. It is a relative term to distinguish the said accounts from those accounts for corporate or business use.

 

Posted Date: 4/2/2013 1:31:05 AM | Location : United States







Related Discussions:- What is personal account, Assignment Help, Ask Question on What is personal account, Get Answer, Expert's Help, What is personal account Discussions

Write discussion on What is personal account
Your posts are moderated
Related Questions
what are the implications of applying accounting concepts wrongly

The net cash provided by operating activities is affected by

What does a business owner do when the cash balance approaches zero and there are bills to be paid? (Hint: look at the financing activities of the Cash Flow Statement and then lo

Bill is an avid angler. His favorite fishing location is Willow Lake, which supports year-round sport fishing. His monthly demand function for fishing at Willow Lake is given by x

Q. What do you mean by Breakeven point? Breakeven point -- the amount of revenue from sales that exactly equals the amount ofexpense. Breakeven point is generally expressed as

Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.

Ower invested cash in the company along with equipment at market value, the amount is considered part of capital or revenues?


Q. What is invoice? An invoice is a document prepared by the seller of merchandise as well as sent to the buyer. The invoice contains the details of a sale such like the number

Assume we had given tour advance to party how to treat entry and which head have to given expenditure? Ans) Cash/Bank a/c DR To Party(name)a/c (Advance Paid For Tour)