Question

Topics
2.6 DESCRIPTIVE QUESTIONS
1. Following is the list of various accounts. Find the assets, liabis
capital, revenue or expense accounts:
(i) Machinery
(ii) Bank
(iii) Sales
(iv) Unsold stock
(v) Bank overdraft
(vi) Ram (customer)
(vii) Purchases
(viii) Cash
and Cas
(ix) Interest received
Horngr
(x) Mohan (Proprietor)

Answer 1

Nature of Accounts is shown as follows-

1) machinery - Asset

2) bank - Asset

3) sales - revenue

4) unsold stock - asset

5) bank OD - liability

6) Ram (customer) - asset

7) purchases - asset

8) cash - asset

9) interest received - revenue

10) mohan - capital