Question

Classify the following accounting accounts according to "TRADITIONAL APPROACH"
(a) salary
(b) bank overdraft
(c) depreciation
(d) purchase return
(e) sales return
(f) Accrued interest
(g) bad debts recovered
(h) drawing
(I) goodwill
(j) investment
(k) capital
(L) outstanding rent
(m) furniture
(n) stock​

Answer 1

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Answer 2

Answer:

Item Nature of Account

Land & Building Real A/c

Excise Duty Nominal A/c

Creditors Personal A/c

Capital Personal A/c

Motor Vehicles Real A/c

Goodwill Real A/c

Investments Real A/c

Salary Nominal A/c

Debtors Personal A/c

Bad Debts Nominal A/c

Depreciation Nominal A/c

Wages Nominal A/c

Repair Nominal A/c

Ramesh, a debtor Personal A/c

Interest Received Nominal A/c

Bank Overdraft Personal A/c

Purchase Returns Nominal A/c

Drawings Personal A/c

Freight Nominal A/c

Return Inwards Nominal