Question

On which side will the decrease in the following accounts be recorded?
Also, mention the nature of account on the basis of Modern Classification of
Accounts:
(i) Trade Marks
(ii) Rent Receivables
(iii) Bills Payable
(iv) Cash at Bank
(v) Carriage Outward
(vi) Return Outward​

Answer 1

Answer:

(i) Trade Marks

(i) Trade Marks(ii) Rent Receivables

(i) Trade Marks(ii) Rent Receivables(iii) Bills Payable

(i) Trade Marks(ii) Rent Receivables(iii) Bills Payable(iv) Cash at Bank

(i) Trade Marks(ii) Rent Receivables(iii) Bills Payable(iv) Cash at Bank(v) Carriage Outward

(i) Trade Marks(ii) Rent Receivables(iii) Bills Payable(iv) Cash at Bank(v) Carriage Outward (vi) Return Outward