Question

On which side the increase in the following accounts to be recorded? Also, mention the nature of the account on the basis of Modern Classification of Accounts. 1. Building Ale 2. Purchase Ale 3. Rent received A/e 4. Debtors Ale Creditors A/e 1| Page (4) 6. Carriage Inwards Ale 7. Interest payable Ale 8. Accrued commission A/c​

Answer 1

Answer:

Increase in the account of Furniture will be recorded on the Debit Side as increase or rise in asset of the company will be recorded or reported on debit side. and the nature of the account is real account.