classify the following into personal,real,nominal a/c-capital interest, purchas

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

Question Posted / pb.puniu

1 Answers
12276 Views
I also Faced
E-Mail Answers

classify the following into personal,real,nominal a/c-capital interest, purchase,drawing,sales ret..

Answer / vishu.u.s

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.

Is This Answer Correct ?

12 Yes

4 No

Post New Answer

More Accounting AllOther Interview Questions

EXPAND_________UAPA

1 Answers

what is service bill and what is the nature of this bill how handle in a firm and how treat thi type entry in tally FOR EXA. SERVICE CHARGE AMOUNT IS = 1500 ADD SERVICE CHARGE @10.3 = 154.50 ADD SURCHARGE @2% ON SERVICE CHARGE = 3.90 ADD CESS EDUCATION TAX 1%ON SERVICE TAX= 0.0309 TOTAL AMOUNT =

3 Answers

Fixed Assets Depreciation Rats ?

4 Answers

what is the entry passed for sales return (sales is on credit basis)?

8 Answers

Expand-------MUR

0 Answers

what is depreciation ?

7 Answers Genpact,

how accountant calculatee depriciation

5 Answers

If net profit is a profit why does it appear on the liability side of the balance sheet