D-

8aslc ccounLlng 1ermlnologles

1ransacLlons
Sales
urchases
evenue
Lxpenses
CosL
-eL roflL
CaplLal
urawlngs
8alance SheeL
sseLs
llxed sseLs
CurrenL sseLs
lablllLy
ong 1erm lablllLy
CurrenL lablllLy
8ook value
Sundry uebLors
Sundry CredlLors
Worklng CaplLal
ClasslflcaLlon of ccounLs
Personal
Accounts
mpersonal
Accounts
Natural
Persons'
Accounts
Artificial
Persons'
Accounts
Representative
Personal
Accounts
Real
Accounts
Nominal
Accounts
Tangible
Accounts
ntangible
Accounts
ules of uouble LnLry
ersonal ccounL
ueblL Lhe recelver/recelvable
CredlL Lhe glver/payable
eal ccounL
ueblL whaL comes ln
CredlL whaL goes ouL
-omlnal ccounL
ueblL all expenses/losses
CredlL all lncomes/galns
ournal
lL ls a prlmary book of accounLs
lL ls a book of orlglnal enLry whereln
LransacLlons are flrsL recorded on a dally basls
1ransacLlons are recorded chronologlcally ln
order of daLe showlng amounLs and accounLs
Lo be deblLed and credlLed and an
explanaLlon
ate Particulars L.F. ebit
(Rs.)
Credit
(Rs.)
Narration
n the books of M/s. XYZ
Journal Entries