Table of Contents
Personal Accounts Examples List
What are Personal Accounts?
Personal accounts are those accounts that relate to persons, Firms, Institutions, and companies like… Jay, Vijay, Mohit, Rachit, Poonam, debtors, creditors, Ram & Sons, company, bank, school, government, Capital, Drawings, Accounts, etc.
Personal Accounts Examples List:
1. Mohit A/C
2. Rachit A/C
3. Mariya A/C
4. Navjot A/C
5. Salman A/c
6. Peter A/c
7. Account of Reliance Industries Ltd
8. Account of Mohan & Sons’
9. Account of Tata Company Ltd
10. Account of the State Bank of India
11. Account of Ram & Company
12. Account of BSNL, LIC
13. Account of School
14. Account of Government
15. Account of Court
16. Capital accounts
17. Drawing accounts
18. Outstanding salary accounts ( Represent Employee),
19. Prepaid Rent accounts (Represent Landlord)
20. Advance Income accounts,
21. Accrued Income accounts
22. Debtors Account
23. Creditors Account
25 Loan Account
Personal Accounts Examples List
Personal accounts are subdivided into three categories-
- Natural personal accounts – All those accounts that are related to human beings / Persons are called natural personal accounts.
Natural Personal Accounts Examples List:
1. Mohit A/C
2. Rachit A/C
3. Mariya A/C
4. Navjot A/C
5. Salman A/c
6. Petter A/c
Artificial(Legal) personal accounts- Those Personal accounts that are created artificially by law, such as corporate bodies and institutions, are called Artificial personal accounts. These accounts do not have a physical existence however, they are recognized as persons in business dealings. Or Those personal accounts that are treated as persons in the eyes of the law & have separate legal entities.
Artificial Personal Accounts Examples List:
1. Account of Reliance Industries Ltd
2. Account of Mohan & Son’s
3. Account of Tata Company Ltd
4. Account of the State Bank of India
5. Account of Ram & Company
6. Account of BSNL, LIC
7. Account of School
8. Account of Government
9. Account of Court
10. Bank Account etc. - Representative personal accounts –Accounts representing a particular person or group of persons directly or indirectly.
Representative Personal Accounts Examples List:
1. Outstanding salary accounts (Represent Employees),
2. Prepaid Rent accounts (Represent Landlord)
3. Advance Income accounts,
4. Accrued Income accounts etc.
5. Capital accounts,(Represent Proprietor)
6. Drawing accounts, (Represent Proprietor)
Personal Accounts Examples List
Golden Rules Of Accounting(Debit and Credit) Traditional Approach-
Personal Accounts- Debit the receiver, Credit the giver.
Real Accounts- Debit what comes in, Credit what goes out.
Nominal Accounts- Debit all expenses and losses, Credit all incomes and gains.
30 transactions with their Journal Entries, Ledger, Trial balance and Final Accounts- Project
Golden Rules Of Accounting MCQs with solved answers
Personal Accounts Examples List