Question

State the rule of real account with example.
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Answer 1

Some examples of personal accounts are customers, vendors, salary accounts of employees, drawings and capital accounts of owners, etc.

The golden rule for personal accounts is: debit the receiver and credit the giver.

The golden rule for real accounts is: debit what comes in and credit what goes out.

Answer 2

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State the rule of real account with example?

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Some examples of personal accounts are customers, vendors, salary accounts of employees, drawings and capital accounts of owners, etc.

The golden rule for personal accounts is: debit the receiver and credit the giver.

The golden rule for real accounts is: debit what comes in and credit what goes out.