Question

Classify the following items into Assets and Liabilities :

(i) Machinery
(ii) Debtors
(iii) Building
(iv) Bank overdraft
(v) Loan from A. Bhattacherjee
(vi) Salary owing to staff
(vii) stock of goods​

Answer 1

Explanation:

Solution

(i) Assets : Bank balance, Debtors <br> (ii) Liabilities : Bank overdraft, creditors <br> (iii) Expenses : Salary to Manager, Discount to debtors, cost of goods sold. <br> (iv) Revenues : Sales

Answer 2

Answer:

REFER THE PHOTO

IN LIABILITY SIDE 3'RD ITEM IS SALARY OUT STANDING

Explanation: