Question

4. Classify into assets, liabilities, capital, revenue and expense.
1. Stock-in-hand
2. Rent Paid
3. Advertising
4. Creditors
5. Outstanding Expense (rent)
6. Interest Received
7. Capital Introduced
8. Furniture and Fittings
9. Insurance Premium Prepaid
10. Commission Received in Advance
11. Debtors
12. Dividend Received
13. Cash at bank
14. Salaries Paid
15. Discount Received
16. Land and Building
17. Bank Loan
18. Bank Overdraft
19. Wages
20. Bills receivable​

Answer 1

Answer:

stock in hand - Asset

Rent paid - Expenses

Advertisement- expenses

creditor-liabilty

Outstanding rent - liabilities

Interest received - revenue

Capital introduce - capital

Furniture - Asset

Insurance prepaid - Asset

Commission received in advance - liabilities

Debtor - asset

Divided received - revenue

cash at bank - asset

salaries paid - expenses

Discount received - revenue

Land and building - asset

Bank loan - liabilities

Bank overdraft - liabilities

wages - expenses

Bills receivable - asset