Classify the following Accounts into Assets, Capital, Expenses/Losses, and Revenue/Gains under Accounting equation method.
a) Furniture A/c
g)Bills payable A/c
b)O/S rent A/c
h)Investment A/c
c)Interest Receivable A/c
i) Creditors A/c
d)Rent received in advance
j)Commission A/c
e)Prepaid salary A/c
k)Vehicle A/c
f)Capital A/c
l)Cash A/c
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Answer:
a.assets .
b.libilaties .
c.assets.
d.liabilites
e.assets .
f.capital.
g.liabilites
h.expense.
i.liabilites
j.expense.
k.assets .
l.assets .
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