Question

Classify the following accounts under Assets a/c, Liabilities a/c, Capital a/c,
Expenses a/c , Incomes a/c
a] Cash account
b] Drawings account
c]Purchase account
d]Computer account
e] Salary account
f] Outstanding Rent account
g] Furniture account
h] Interest received account.
i] Sales account
i] Creditors account
k]Purchase returns account
l] Bills Received account​

Answer 1

Answer:

a)asset

b) liability

c) expenses

d)asset

e) expenses

f) liability

g) asset

h) income

I)income

j)invome

k) liability

l) capital