IndigoLearn

The purchase account is a NOMINAL ACCOUNT whose principal is " Debit all expenses and losses, credit all income and gains". The purchase return account is also of same nature.

Nithish Kumar

CA Inter

★ 330

07-Mar-21 21:22

But it module it is written as real account And sales account is also written as real account

Amisha Mahajan

CA Foundation

★ 435

07-Mar-21 21:30

Thats why i got too much confused..

Amisha Mahajan

CA Foundation

★ 435

07-Mar-21 21:30

Yes.. There is no universal evidence whether purchase account is real or nominal in nature. It is matter of conflict.. But mostly it depends upon the policy of company..

Sai Teja

CA Foundation

★ 12K+

07-Mar-21 22:32

I hope this helps... https://youtu.be/H45Xn9Ha1iU

Deepak Gupta

CA Inter

★ 1K+

07-Mar-21 22:55

Thank you so much...

Amisha Mahajan

CA Foundation

★ 435

07-Mar-21 23:40