Question

Om which side decrease in the following accounts be recorded?also mention nature of the account

Answer 1

Answer:

1. Cash - The decrease will be recorded on the Credit Side of the account, and the nature of the account is Real account. 2. Bank Overdraft - The decrease will be recorded on the Debit Side of the account, and the nature of the account is Personal account

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Answer 2

The answer is stated below:

Explanation:

1. Cash - The decrease will be recorded on the Credit Side of the account, and the nature of the account is Real account.
2. Bank Overdraft - The decrease will be recorded on the Debit Side of the account, and the nature of the account is Personal account.
3. Salary Outstanding paid - The decrease will be recorded on the Debit Side of the account, and the nature of the account is Personal account.
4. Rent Outstanding - The decrease will be recorded on the Debit Side of the account, and the nature of the account is Personal account.
5. Prepaid Insurance - The decrease will be recorded on the Credit Side of the account, and the nature of the account is Personal account.
6. Mohan, Proprietor of the business - The decrease will be recorded on the Debit Side of the account, and the nature of the account is Real account.