Types of Accounts
Previous Lesson: Types of Business
Next Lesson: Assets
Learning Objectives
After studying this lesson, you should be able to:
1.
An account is basic building block of accounting. There are six types of account or accounting pillars used in recording economic activity in a systematic way.
>> See Contra account
>> See Golden Rules of Accounting.
Example 1:
For each of the following, write Types of Account and Normal Balance?
[table id=25 /]
References
Shukla, M. C., Grewal, T. S., & Gupta, S. C. (2008). Advanced Accountancy (Vol. I & II). New Delhi: S Chand & Co.
Shukla, M. C., Grewal, T. S., & Gupta, S. C. (2008). Corporate Accounting. New Delhi: S. Chand and Co.
Weygandt, J. J., Kimmel, P. D., & Kieso, D. E. (2012). Accounting Principles (10th ed.). Hoboken: John Wiley & Sons, Inc.
Williams, M., & Bettner, H. (1999). Accounting (The basic for business decisions). (11th, Ed.) USA: Irwin McGraw- Hill.
Good Work
Great work!!!
This is great style for showing types of accounts. This website very helpful for us specially exam point of view.
Good
Please provide the accounts related deta for entry test.