This document discusses debit and credit accounting transactions and the three types of accounts: personal, real, and nominal accounts. It provides examples of debit and credit entries for different types of transactions like buying a pen. It also summarizes the three aspects of financial statements - the balance sheet, income statement, and cash flow statement - and how different accounts are recorded as debits or credits in each statement. The document concludes by providing an example of how a fixed asset sale transaction would be recorded.

1. Debit , Credit accounting transaction for recording. When we
talk double entry system two ways of recording I-e single
entry system a (one side of transaction being recorded) and
double entry system (Transaction into two ways)
Two aspect of any transaction :
For example:
Buy a pen ( cash is going out and asset is coming in)
to record this activity debit and credit format is used.

2. According to Bookish accounting there are three accounts.
1. Personal accounts
2. Real accounts
3. Nominal accounts
Personal account:
coming in -> Debit
Going out -> Credit
Real account:
Increased, established thing -> Debit
Decreased -> Credit

3. Nominal account:
Expense -> Debit
Income -> Credit
According to profession knowledge of accounting:
Three aspects of financial statement
Balance sheet statement
Asset side , liability side , Equity
In financial position:
Asset -> Debit
Liability -> Credit
Equity -> Credit
In profit and loss statement
Incomes -> Credit
Expense -> Debit

4. Selling a fixed asset in a normal transaction type,
It is a different type of transaction. Fixed asset is
develop and for some company this fixed asset may
be credit trade items.
When you transaction of fixed asset:
Fixed asset _ going out ( Credit)
In returns ( cash -> coming in ) Debit