CA Foundation doubt
Is Cash at bank is representative personal account ?
Asked by Nithya21 Jun 2024403 views
7 answers
Nithya · 22 Jun 2024
Thank you everyone
Karishma · 22 Jun 2024
Bank*
Karishma · 22 Jun 2024
Because it represents the proprietor's account in nank
Karishma · 22 Jun 2024
Yes cash at bank is a representative personal account
Muskan · 22 Jun 2024
It's a personal representative account because it represents Bank!!
Nithya · 21 Jun 2024
Ok thank you but it satisfy the representative personal account rules could you please explain further about it ?
Sonu · 21 Jun 2024
No it represents Real Account because it is asset of the business that is why it's shown on the asset side of balance sheet!
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