Classify the following accounts into
(a) Asset account
(b) Liability account
(c) Capital account
(d) Revenue/Income account
(e) Expense account
1. Furniture Account
2. Salaries Account
3. Outstanding Wages Account
4. National Trading Co. Ltd.'s Account
5. Stationery Account
6. Prepaid Insurance Account
7. Capital Account
8. Interest Account
9. Buildings Account
10. Purchases Account
11. Cash Account
12. Bank Account
13. Sales Account
14. Commission Received in Advance Account
15. Discount Account
16. Drawings Account
17. Loan Account
18. Mysore Store's Account
19. Repairs to Machinery Account
20. Stock Account
21. Investment Account
22. Loose Tools Account
23. Bangalore Sports Club's Account
24. Loss of Goods by Fire Account
25. Motor Vans Account
26. International Trader's Account
27. Goodwill Account
28. Depreciation Account
29. Bad Debts Account
30. Bad Debts Recovered Account
31. Bank Overdraft Account
32. Book Debts Account
33. Purchases Returns Account
34. Sales Returns Account
35. Postage Account
36. Charity Account
37. Carriage Account
38. Rent Account
39. National College's Account
40. Bangalore Corporation's Account
41. Bills Receivable Account
42. Bills Payable Account
43. Bank Deposit Account
44. Provision for Bad and Doubtful Debts Account
45. Provision for Discount on Debtors Account
46. Provision for Discount on Creditors Account
47. Provision for Depreciation Account
47. Provision for Depreciation Account
Solution:
