Modern vs Traditional Method for Journal Entries | ज्यादा अच्छा कोन सा है | Class 11 | CA Foundation

Modern vs Traditional method for Journal entries , Which One is Better, Traditional method vs Modern Method of Journal Entries, Rules of debit and credit, Modern method rules, Golden Rules of Accounts, Tally, tally prime, How to pass Journal entries, golden rule account, golden rules of accounting with journal entries in english, golden rules of journal entry, golden rule account in hindi, rules of debit and credit class 11 chapter 9, rules of debit and credit class 11 chapter 6, rules of debit and credit class 11 chapter 4, Real, Personal, Nominal Accounts and Golden Rules of Accounting. Golden rules of Accounts, what is personal accounts , what is nominal accounts, what is real accounts

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𝐂𝐥𝐚𝐬𝐬 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐬 :    • Class 12 Accounts Class by Accounts Funda ...  
 
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Real Account
• Represent the Assets and Properties Accounts:
• Classified into
1. Tangible Accounts: Land, Building, Machinery, Cash, Furniture,
2 Intangible Accounts: Goodwill, Patents, Trademark
• Golden Rules of Accounting for Real Account
Debit: What’s comes in
-Credit: what’s goes out
• Example: Furniture Purchased for Cash Rs 5,000

Furniture Dr ( Coming in) 5,000
To Cash ( Going Out) 5,000

Personal Account:
• It Represent the person or Business (Firms, Proprietorship Firm, Company etc)
• Can be classified into three
1. Natural Person: Vaibhav, Neha
2. Artificial Person: Reliance Industries, Wipro Ltd , HDFC Bank
3. Representative Company: Outstanding Expense , Outstanding Salary , Prepaid Rent
• They can have Debit or Credit balance
• Golden Rules of Accounting for Personal Account
-Debit the Receiver
-Credit the Giver
• Example: Cash Given to Neha Rs3,000

• Neha Account Dr (Receiver of Cash) 3,000
To Cash (Going Out) 3,000

Nominal accounts
• Related to Income / Gain and Expense /Losses Account
• Golden Rules of Accounting for Real Account
-Debit: All Expense and Losses
-Credit: All Income and Gain
• Example: Salary Rs 12,000 Paid

Salary A/c Dr ( Expense ) 12,000
To Cash ( Going Out) 12,000


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