Personal Accounts, Personal Accounts Example

Personal Accountants: ­

                              Personal accountants are accounts of persons with whom a concern carries on business.

When the Account Holder Receives Benefit          Debit When the Account Holder  Gives benefit              Credit              ( Debit the Receiver )  (Credit the Giver )                Eg: - Names of persons, Company etc..,

Personal Accounts:

a) Sold goods to sukumar for Rs.900

                    Sukumar a/c ……..Dr

                        To goods a/c ……..Cr

b) Received cash from Ravisankar Rs.2000

                    Cash a/c ………Dr

                        To Ravisankar……...Cr

c) Paid cash to Subramanyam Rs.1000

     This transaction is influenced by two a/c’s Real & Personal a/c’s

                        Subramanian a/c……Dr

                            To Cash a/c………Cr