Question

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 1

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 .