classify the following into personal,real,nominal
a/c-capital interest, purchase,drawing,sales
return,outstanding rent,bills payable,club a/c, bill's
receivable,bills payable,salary
Capital Interest - Nominal A/c as it is an Expense.
Purchase - Nominal A/c as it is an Expense.
Drawings - personal A/c as it is related with owner.
Sales return - Nominal A/c as it is related with Income.
(ie, it reduce sales).
Outstanding Rent - Personal A/c( Representative).
Bills Payable - Personal A/c
Club A/c - Personal A/c (Artificial Personal A/c)
Bills Receivable - Real A/c as it is a Asset.
Salary - Nominal A/c as it is an Expense.
I gave cash advance of Rs. 70000 to one our enginner at
site. He submitted only bills of 69000. Please tell me, how
I can write these transaction in the Day book.
what type of account appear on a post closing trial balance?
a) income statement accounts
b) balance sheet accounts
c) cash flow accounts
d) temporary owner's equity accounts
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