best and easy way to learn accountancy and ledger and journal

1) What Do You Mean By Accoun ng ?
Ans:- Accoun ng is a date wise summery of transac ons rela ng to persons, property,
expences and incomes (etc). It has two sides, the le hand side is called debit or debit side
and the right hand side is called credit ot credit side. Below the profroma on of account is
given.

Dr Journal Folin Cash Account Ram’s Account Cr
Date Par cular J/F Amount Date Par cular J/F Amount




2) What Do You Mean By Debit ?
Ans:- Account has two side, such as le hand side and right hand side. The le hand side is
called debit side / debit. Amount enter in amount column, that is called as debit, debi ed
amount. There is no other meaning in account.

3) What Do You Mean By Credit ?
Ans:- Account has two side, such as le side and right hand side. The right hand side is called
credit side / credit. The amount enter in amount column is called credit / credited amount.

4) What Do You Mean By Personal Account ?
Ans:- Personal account refers to all those accounts which are related to individuals forms,
society, club, organis on, company. These account balance always shows amount due to or
amount due from such account from such persons. Personal accounts are 3 types, such as:-

 Natural Persons Personal Account
 Ar ficial Persons Personal Account
 Represen ve Persons Personal Account
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5) What Do You Mean By Natural Person Personal Account ?
Ans:- Account of the persons individual made of flesh, boans and soul are called Natural
Person Personal Account.

Ex:- Ram’s A/c, Hari’s A/c, Capital A/c, Drawing’s A/c, Debtor A/c, Creditor A/c.