Classify the following into Personal, Real and Nominal Accounts: Land, Investments, Building, Interest Received
Classify the following into Personal, Real and Nominal Accounts:
| (i) Land | (ii) Investments | (iii) Building |
| (iv) Interest Received | (v) Salary | (vi) Loan |
| (vii) Bank Overdraft | (viii) Debtors | (ix) Creditors |
| (x) Purcahses Return | (xi) Bad Debts | (xii) Capital |
| (xiii) Drawings | (xiv) Depreciation | (xv) Motor Vehicles |
| (xvi) Freight | (xvii) Wages | (xviii) Goodwill |
| (xix) Returns Inward | (xx) Repairs |
Anurag Pathak Changed status to publish September 18, 2023
Solution:-
| Account | Type |
| 1) Land | Real |
| 2) Investments | Real |
| 3) Building | Real |
| 4) Interest Received | Personal |
| 5) Salary | Nominal Account |
| 6) Loan | Personal Account |
| 7) Bank Overdraft | Personal Account |
| 8) Debtors | Personal Account |
| 9) Creditors | Personal Account |
| 10) Purchases Return | Nominal Account |
| 11) Bad Debts | Nominal Account |
| 12) Capital | Personal Account |
| 13) Drawings | Personal Account |
| 14) Depreciation | Nominal Account |
| 15) Motor Vehicles | Real Account |
| 16) Freight | Nominal Account |
| 17) Wages | Nominal Account |
| 18) Goodwill | Real Account |
| 19) Returns Inward | Nominal Account |
| 20) Repairs | Nominal Account |
Anurag Pathak Changed status to publish September 18, 2023
