Question

Q3 FOLLOwING ARE TRANSACTIONS OF PARTH
SHAH.STATE WHICH ACCOUNT wILL BE DEBITED
AND WHICH WILL BE CREDITED
(6M)
1.Started business by bringing in cash RS 15000
2.Sold goods of RS 4000 to Sagar
3.Paid electricity bill of RS 700
4Purchase goods of RS 3000 from Harish for cash.
5.Purchased goods of 10000 from Hemangini
6. Purchased furniture of RS 20000
(9M)
Q4 CLASSIFY THE AcCOUNT AS FOLLOW.
1.Zalak Shah's A/C.
8.Cash A/C
2.Purchase A/C.
9.Patent A/C
3.Sales A/C
4.Wages A/NC
5. Capital A/c
6.Petty cash book A/C
7.Rent received A/C
O​

Answer 1

Explanation:

Item Nature of Account

Land & Building Real A/c

Excise Duty Nominal A/c

Creditors Personal A/c

Capital Personal A/c

Motor Vehicles Real A/c

Goodwill Real A/c

Investments Real A/c

Salary Nominal A/c

Debtors Personal A/c

Bad Debts Nominal A/c

Depreciation Nominal A/c

Wages Nominal A/c

Repair Nominal A/c

Ramesh, a debtor Personal A/c

Interest Received Nominal A/c

Bank Overdraft Personal A/c

Purchase Returns Nominal A/c

Drawings Personal A/c

Freight Nominal A/c

Return Inwards Nominal A/c