Accounting process

Personal account

Surya Prakash

CA Final

★ 19K+

19-May-23 11:43

It is personal account only Bocz it is used by the individual or fim or company for their purposes

Balachandar S

CA Inter

★ 59K+

19-May-23 13:22

If money then bank was real alc

Lkg Ydv

ACCA Professional

★ 915

19-May-23 15:09

Cash /bank

Lkg Ydv

ACCA Professional

★ 915

19-May-23 15:10

Bank is a real account

Varshaa M

CA Final

★ 35K+

19-May-23 23:01

Bank is a real account as it relates to asset

Varshaa M

CA Final

★ 35K+

19-May-23 23:01

Personal account because it represents the amount kept with the bank(artificial person) It is a representative personal account

Jaswanth P

CA Inter

★ 3K+

19-May-23 23:11

Yes, you are right. Bank is a personal account only. I got a bit confused. Thanks for the clarification.

Varshaa M

CA Final

★ 35K+

19-May-23 23:15

You can treat it either ways.

CA Suraj Lakhotia

Admin

21-May-23 12:52