Capital account as well as Drawings account are Personal accounts !!!
Real Account
Personal account
it is a personal account
it is a personal account
yes
see first tell me wat is bank overdraft..... its is real or personal... ans.personal...every bank a/c is personal a/c.. and though bank is payable or receivable its is personal a/c only....
No bank account is a Personal account in Accounting
Interest on capital is considered a nominal account. Nominal accounts are associated with expenses, incomes, gains, and losses, and they are closed at the end of an accounting period. Since interest on capital represents a cost or an expense incurred by a business, it falls under this category.
It may be real account or personal account depending upon the type of liabilities. it can however never be a nominal account
Loan account is a personal account in nature so increase with debit and decrease with credit.
No, bills payables is not a real account but it is a personal account .My answer:Bills receivable is a real account. Bills receivable for one person is bills payble for another person. The same instrument cannot be Real for one person and personal for another. Hence, in my opinion Bills payable is also a real account.
Michael never had a personal account, only a fan page.