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Accountancy
Conjugra

Topics2.6 DESCRIPTIVE QUESTIONS1. Following is the list of various accounts. Find the assets, liabiscapital, 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 receivedHorngr(x) Mohan (Proprietor)

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Answer:

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

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