Question

Match the following :

Part – A Part – B

(1) Prepaid insurance (a) Trading Account

(2) Depreciation (b) Capital

(3) Opening Stock (c) Profit and Loss Account

(4) Commission received in advance (d) Asset

(5) Drawings (e) Liability​

Answer 1

Answer:

Explanation:

1. PREPAID INSURNCE - LIABILITY
2. DEPRECIATION - P&L A/C
3. OPENING STOCK - TRADING ACOUNT
4. COMMISSION RECEIVED - ASSET
5. DRAWINGS - CAPITAL

Answer 2

(1) prepaid insurance - capital

(2) Depreciation - asset

(3) Opening Stock - Profit and Loss Account

(4) Commission received in advance - trading account

(5) Drawings - Liability