Question

1.6 Classify the following accounts under the types of Personal, Real and Nominal account.
1) Mr. Rohit's capital A/C
2) Loose Tools A/c
3) Drawing A/c
4) Cartage A/C
5) Prepaid Rent A/c
6) Copyright A/C
7) Patent A/c
8) Outstanding Income A/C
9) Prepaid Expenses A/c
10) Commission Received A/c
11) Freight A/C
12) Plant and Machinery A/c
13) Sundry Income A/c
14) Live Stock A/c
15) Goods distributed as free sample A/C 16) Radhika's A/C
17) Outstanding Wages A/c
18) Loss on Sale of Furniture A/c
19) Bank of Maharashtra A/c
20) Loan A/C
21) Computer A/C
22) Legal Expenses A/c
23) Fixed Deposit Alc
24) Income Receivable A/c
25) Audit Fees A/C
26) Trademark A/c
27) Loss by fire A/c
28) Motor Car A/C
29) Income tax A/C
30) GST A/c (Goods and Service Tax)
31) Siddhivinayak Trust A/c
32) Offfice Equipment A/c
33) Stock of Stationery A/c
34) Indian Railways A/c
35) Income Received in Advance A/c 36) Dividend on Investment Advance A
37) Discount A/c
38) Raj & company A/c
39) Repairs A/C
40) Royalty A/C​

Answer 1

1)asset(real)

2)asset(real)

3) nominal

4)nominal (expense)

5)Asset

6)asset (real and intangible)

7) asset (real and intangible)

8) personal

9) asset

10) nominal (income)

Explanation:

Answer 2

Answer:

Personal account - 1,3,5,8,9,16,17,19,20,24,29,31,34,35,38

Real account - 2,6,7,12,14,21,23 26,28,32,33

Nominal account - 4,10,11,13,15,18,22,25,27,30,36,37,39,40

Explanation:

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