CBSE Class 11-commerce Answered
On
which side, will a decrease in the following account recorded. Also, identify
the nature of accounts.
i. Cash
ii. Rent paid
iii. Ashok- Proprietor of business
iv. Bank overdraft
v. Wages paid
vi. Outstanding rent
vii. Prepaid insurance
Asked by Topperlearning User | 14 Jun, 2016, 11:36: AM
Expert Answer
|
Item |
Debit/ Credit |
Nature of Account |
|
1. Cash |
Credit |
Asset |
|
2. Rent paid |
Credit |
Expenses |
|
3. Ashok - Proprietor of business |
Debit |
Capital |
|
4. Bank overdraft |
Debit |
Liability |
|
5. Wages paid |
Credit |
Expenses |
|
6. Outstanding rent |
Debit |
Liability |
|
7. Prepaid insurance |
Credit |
Asset |
Answered by | 14 Jun, 2016, 01:36: PM
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 14 Jun, 2016, 11:36: AM
ANSWERED BY EXPERTCBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 14 Jun, 2016, 11:36: AM
ANSWERED BY EXPERTCBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 14 Jun, 2016, 11:36: AM
ANSWERED BY EXPERTCBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 14 Jun, 2016, 11:36: AM
ANSWERED BY EXPERTCBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 14 Jun, 2016, 11:36: AM
ANSWERED BY EXPERTCBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 14 Jun, 2016, 11:44: AM
ANSWERED BY EXPERTCBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 01 Jul, 2016, 03:14: PM
ANSWERED BY EXPERT
