Question

11. Classify the following accounts under Assets a/c, Liabilities a/c, Capital a/c, Expenses a/c,
Income a/c
a) Machinery a/c
b) Bank Loan a/c
c) Debtors a/c
d) Creditors a/c
e) Salary paid a/c
f) Rent Received a/c
g) Pre-paid rent a/c
h) Outstanding Salary a/c
i) Advertisement a/c
j) Drawings a/c​

Answer 1

Answer:

a) asset

b) liability

c) expenses

d) capital

e) expenses

f) asset