Joshua Oluwatomiwa Ezekiel
NAME:JOSHUA OLUWATOMIWA EZEKIEL REG. NO: 65084669AJ DEPARTMENT: ACCOUNTING AND FINANCE COURSE OPTION: BANKING AND FINANCE COURSE CODE: ACC101 LEVEL: 100 1. PERSONAL ACCOUNT: This account involves the account of persons or corporate bodies who have business transaction with the organization. It includes debtors, creditors, account etc. 2. CASH ACCOUNT: This account involve the recording of all cash transaction in this business. The receipt of cash are been debited while the payment of cash are been credited in this account. 3. REAL ACCOUNT: these are accounts that relate to tangible assists such as building, motor vehicles, furniture and stock; e.t.c .Real accounts are general ledger accounts that do not close at the end of the accounting year. That is, the balances in the real accounts are carried forward to become opening balances of the next accounting period. 4. NOMINAL ACCOUNTS: These are the accounts opened for gains or losses. the are not real or personal but are for profits and losses items. We only talk of benefits arising from these accounts as a result of the services rendered. Examples are: Rent, Salaries, Electricity, Discounts, Drawings etc.
Created 4 months ago by Oluwatomiwa Olatide Ezekiel