Classify the following into Asset, Liability, Capital, Revenue or Expense Accounts: Plant and Machinery, Bank Loan, Sales
Classify the following into Asset, Liability, Capital, Revenue or Expense Accounts:
| (i) Plant and Machinery | (ii) Bank Loan | (iii) Sales |
| (iv) Rent Paid | (v) Discount Received | (vi) Carriage Inwards |
| (vii) Carriage Outwards | (viii) Purchases | (ix) Bills Payable |
| (x) Wages | (xi) Advance Income | (xii) Accrued Income |
| (xiii) Goodwill | (xiv) Furniture and Fixtures | (xv) Outstanding Expenses |
| (xvi) Additional Capital | (xvii) Rent Received |
Anurag Pathak Changed status to publish September 18, 2023
Solution:-
| S.N | Solutions |
| 1) Plant and Machinery | Assets |
| 2) Bank Loan | Liabilities |
| 3) Sales | Revenue |
| 4) Rent Paid | Expenses |
| 5) Discount Received | Revenue |
| 6) Carriage Inwards | Expenses |
| 7) Carriage Outwards | Expenses |
| 8) Purchases | Expenses |
| 9) Bills Payable | Liabilities |
| 10) Wages | Expenses |
| 11) Advance Income | Liabilities |
| 12) Accrued Income | Assets |
| 13) Goodwill | Assets |
| 14) Furniture & Fixtures | Assets |
| 15) Outstanding Expenses | Liabilities |
| 16) Additional Capital | Capital |
| 17) Rent Received | Revenue |
Anurag Pathak Changed status to publish September 18, 2023
