classify the following into personal,real,nominal
a/c-capital interest, purchase,drawing,sales
return,outstanding rent,bills payable,club a/c, bill's
receivable,bills payable,salary
Answer / vishu.u.s
Capital Interest - Nominal A/c as it is an Expense.
Purchase - Nominal A/c as it is an Expense.
Drawings - personal A/c as it is related with owner.
Sales return - Nominal A/c as it is related with Income.
(ie, it reduce sales).
Outstanding Rent - Personal A/c( Representative).
Bills Payable - Personal A/c
Club A/c - Personal A/c (Artificial Personal A/c)
Bills Receivable - Real A/c as it is a Asset.
Salary - Nominal A/c as it is an Expense.
| Is This Answer Correct ? | 12 Yes | 4 No |
Will out standing expenses falls under preliminary expenses in balance sheet are not
What is the difference between Receipt & Payment Account and Income & Expenditure Account?
9 Answers Accounting, Barclays, ICICI, Tarasons Communications, TATA,
What is contingent liability?
16 Answers Al Fara, Combined Fabrics, Scope International, Syntel,
Is advance paid wages has credit balance?
i want the steps involved in the customization for the process order. my situations is if i take the process order for x qty then stores people can issue only x qty not less or not more. how to do this. pls help me
what is the reserve capital
What is a dead A/c?
What do you mean by matching order? (7 steps)
If DEBT/EQUITY ratio 2:1, is to good or bad for a company? how...??? can u explain it...???
What was key roles of Cashflow statement and Fund flow statement and Balnsheet..?
let me know the minimum Accounting Heads in an accounting system
Any Two difference Between Debenture and bonds?
9 Answers ABG Shipyard, Ecofast, Syntel,