Personal , Real and Nominal Accounts | Golden Rules of Accounts | Types of Accounts | Class 11

Types of accounts and Golden Rules of Accounting in most easy way
Real, Personal, Nominal Accounts and Golden Rules of Accounting
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Real Account
• Represent the Assets and Properties Accounts:
• Classified into
1. Tangible Accounts: Land, Building, Machinery, Cash, Furniture, Vehicle Account
2 Intangible Accounts: Goodwill, Patents, Trademark etc
• Also known as balance sheet account as Real account is not closed at the end of the accounting year and are transferred to the Balance sheet
• Generally, have a Debit balance only
• 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, Ram, 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
• All kind of Income and All kind of Expense are classified as Nominal Account
• At the end of year, they are transferred to the Trading Account or Profit and Loss 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
Real, Personal, Nominal Accounts and Golden Rules of Accounting
This is just a Demo Video, For Full Video Please Visit www.AccountsFunda.com or Call / WhatsApp at 9549168168 for Class 11th and 12th (CBSE) Accounts.
Key Feature of Pen drive Video Lecture of Class 11 and 12th Class by CA Deepak Lalwani Jain
( www.AccountsFunda.com )
• Very Detailed Lectures
• Each topic has been explained in most Simplified Way Possible
• Question Bank Book Covering all the question that can be asked in exam has been explained in video lecture
• All Major book Like DK goel and TS grewal question can be easily Solved
• Focus is on Strong Fundamental and Concept (No Mugging ever)
• Query can be asked over phone, WhatsApp or Video Call (Always available for Students)
• No Internet is Required
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#PersonalAccountRealAccountNominalAccount
#Rulesofdebitandcredit
#UPSCAccountingPrinciple
#CBSE11Account
#Class12Account
#RulesofAccounting
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About Deepak Lalwani
• Deepak Lalwani, Chartered Accountant (CA) is known for his ability to explain accounting in a clear, concise, Simple and thorough manner.
• Deepak has Teaching experience of 12 years across Mumbai, Delhi and Jaipur
• Awarded “Employee of the Year” award for Excellence out of over 1,000 employees
• Even Students with no prior accounting knowledge can master accounting concept with ease.
• He has very high patience level. You can ask n number of questions to him and he will reply each question with a smile
• He can be reached at 9549168168 ( via Call or WhatsApp)

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God bless you 👍

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Bahut bahut jada acche tarike se padhate hain aap ❤️❤️❤️❤️

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Thanks a lot shubham for such a nice complement :)

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outstanding lecture

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Thanks for liking it

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Sir, Bank account is a real account or personal account

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Personal

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Personal

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Personal account

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Thnqu sir aapne bhut ache se smjhaya h

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Thank you so much sir ☺️☺️

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My pleasure hitanshree....glad that u like my lecture 😊

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Sir ji apne to moj kr de 😆 ik bar me sab samaj agya sir thanku sir

[@prajnaranjanmania]

Sir please discuss about.. Investment, bill receivables, bill payable.. These are the example of which account..

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Solved All My Questions In Just 20 Minutes ❣️
Thanks Sir

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Thanks a lot ji

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Best teacher and mentor,♥️♥️

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Thanks Mishu

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The way og teaching will help lots of students. ......very nice.....helpful information

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[@xcyberscar4992]

sir computer or copying account is nominal or personal?

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Comuter.. Personal account

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@@xcyberscar4992 computer and copyright is real

[@uditkushwaha1490]

Sir worksheet kha hai ??

[@vijaywaskar6535]

Sir plz real, personal and nominal account ke example par video banao.

[@AccountsFunda]

𝐉𝐨𝐮𝐫𝐧𝐚𝐥 𝐞𝐧𝐭𝐫𝐢𝐞𝐬 𝐂𝐡𝐚𝐦𝐩𝐢𝐨𝐧 𝐒𝐞𝐫𝐢𝐞𝐬 𝐏𝐥𝐚𝐲𝐥𝐢𝐬𝐭 👇
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Aapka class bohut hin Aachha lagaa Sir 🙏 lod's of thank you ...

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Thanks Kabita....

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Thank you sir 🙏

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Thanks Lalita

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Khup chan teach krta sir tumi. Khup chan understand hota ahe amala

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This video is amazing sir

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Thanks Ashish

[@abdussattarbhuiyan4566]

You are legend. Everything is clear to me. But I have a confusion on Salary A/C. Outstanding Salary represent group of user and in the same manner Salary A/C represent all salary to all employee meaning it also represent group of user. So Why 'Salary A/C ' does not goes under personal A/C?

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Thankyou sir for excellent explaintion

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Lecture bahot badiya laga

[@AccountsFunda]

Thanks a lot ji

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wow sir... good explain 👍🏼😍

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Well sir , you can say I'm a new comer. I don't know why but I am not taking 11th std syllabus seriously, which can be dreadful mistake of mine in future I know about that very well but starting from today with your videos , I will try my best to change my thoughts for this syllabus and will start practicing until I can't get anything wrong.

[@AccountsFunda]

Hi Aarti.... thanks a lot...ya aarti..we should take class 11 very seriously as it is a base year and we can't risk it....it's foundation for future and we should aim for strong base so that we face minimum problem in future....so do watch all my video.... and contact me for any doubt via whatsapp

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Thank you sir it's helps me alot ❤️

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Aap bohot aachha sikhate ho

[@AccountsFunda]

Thanks a lot😊

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Thank you sir, for solving My problem

[@AccountsFunda]

Always welcome Vishal :)

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Really nice explanation and you made me clear on the types of accounts with awesome examples .. thank you, Sir ..

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Thank you sir for makes ng this video
I am watching this video from Nepal 🇳🇵who recently joined the college 😅.This video helped me a lot once again thank you ❤.

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Helpful video .thank you sir

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Thanks hilay :)

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Sir maja agaya very amazing session 🥳🤩🤩

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Sir im bsc maths student presently pursuing cma inter cleared group 1....
I must say your teaching techniques are ultra pro level and you have extreme level of patience while teaching 😊😊😊......Thankyou so much sir....for uploading videos for non commerce students like us....
Sir in the last you said now we will start golden rules...
Sir please can you give me the link please sir please

[@AccountsFunda]

Thank u so much riya for such a nice complement...☺️...feels good then students like our lecture....ya...just search for journal entry champion series and you will find the golden rules of accounts topic

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Sir your explanation was better than others really helped me understanding the concept 💯💯

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Love you sir bohot bada doubt clear Kiya hai apne

[@AccountsFunda]

Thanks a lot for Complement Shivam.

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Excellent sir 🙏🙏💯💯

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Thanks a lot sir......... Aaj mujhe account samjh me aaya.....

[@AccountsFunda]

My pleasure Saumya..😊

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Very helpful for new class 11th students 🙏🏻 😊

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Bhot hi ache se pdhate hi sir 😍😍

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Thanks a lot 😊

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I liked your teaching sir

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Thanks Sanjay

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Nice style for lecture.....

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Thanks a lot salman

[@WHOWASHE28]

Thank you so much sir for this video this is my first year in account and this help me so much love from Nepal 🇳🇵

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Mujko accha laga lactar apka sir thanks sir

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Thanks ikra😊

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Sir your explanation are too good. kal mera exam h isiliye h isiliye revision kar liya

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Thanks a lot ji

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Excellence sir I didn't hear any class like this before this much clarity

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Glad to hear that you like it....so nice of u

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Sir ap bhot acha pdate hai

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Tq so much for the information. It helped

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Thanks a lot

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Sir literally it was very very confusing for me but now it's clear thanks a lot sir 😊

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Thank you sir ❤️💯🙏ap ne tusi te meri sari tantion dor karti thank you very much sir ❤️🙏 aur kuch happy diwali sir

[@AccountsFunda]

Thanks a lot ji...glad that u like it and happy with content ...aapko bhi happy diwali

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Good sir .🙏

[@AccountsFunda]

Thanks a lot harvinder

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Thank you Sir

[@AccountsFunda]

Most welcome Himanshu

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I liked your teaching

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Thanks sanju

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Concept Clear Ho gya HAPPY HAPPY HAPPY 🫶🏻

[@beself2013]

wow what an explanation...

[@AccountsFunda]

Thanks a lot beli

[@awayalong6043]

Thanks a lot sir you have explained it
Very well