Classify the following accounts into personal, real and nominal accounts: i. Machinery purchased ii. Capital brought to

Question:

Classify the following accounts into personal, real and nominal accounts:

i. Machinery purchased ii. Capital brought to start the business iii. Goodwill purchased iv. Insurance premium paid v. Electricity bill paid vi. Outstanding salary

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Fundamentals Of Accounting And Financial Analysis

ISBN: 9788131776070

1st Edition

Authors: Anil Chowdhury

See More Books

Question Posted: Jul 12, 2024 03:01 AM

See More Questions

I need to get help with this case study PwC Case Studies in Taxation, 2013, PwC, LLP FLATIRONS, INC. Flatirons, Inc. (dba Flatirons Flapjacks Caf) specializes in unique breakfast and brunch menus and...
With the following transactions and adjusted entries, what would the worksheet looks like including the income statement and balance sheet. Also I need help with recording adjusted journal entries...
With the following transactions and adjusted entries, what would the worksheet looks like including the income statement and balance sheet. Also I need help with recording adjusted journal entries...
1) Identify a Major Global Company 2) Provide a brief History of the Company and what it does. 3) Identify their top three (3) Tier 1 Suppliers - Explain what they supply, where they are located and...
WestJet Airlines Ltd. was founded in 1996 by a team of Calgary entrepreneurs and, as of December 31, 2012, has grown from serving five western Canadian destinations with three aircraft to...
Can two solution curves of the same ODE have a common point in a rectangle in which the assumptions of the present theorems are satisfied?
Scrap may have a high value that is relatively stable. If this is the case, when is the transfer of the scrap from the factory to the storeroom recorded? What information is given? LO.1
The owner of Bun N Run Hamburgers wishes to compare the sales per day at two locations. The mean number sold for 10 randomly selected days at the Northside site was 83.55, and the standard deviation...
A list of accounts and their balances of Hall's Beauty Salon, at its year end December 3 1 , 2 0 2 4 , is presented below.
State to which class of accounts does each of the following transactions belong: i. Cash ii. Bank iii. Creditors iv. Debtors v. Commission received vi. Amount paid to proprietor
Give three examples of the representative personal accounts.
What are the three phases of the departmental allocation approach? What happens at each phase?
Recall from Case 1.2 that Auto Concepts is a new division of a large automobile manufacturer that has been slowly losing market share to its competitors. Auto Concepts was created to reclaim the...
(a) Draw a simplified ray diagram showing the three principal rays for an object located inside the focal length of a diverging lens. $(b)$ Is the image real or virtual? (c) Is it upright or...
Show that the ray exiting the block in Figure P33.53 is parallel to the ray entering the block. Data from Figure P33.53
The element is subjected to the state of stress shown. If the material is machine steel having a yield stress of $\sigma_{Y}=750 \mathrm{MPa}$, determine the factor of safety with respect to...
Determine the vertical displacement of the ring at point $B$. $E I$ is constant. B P A
Discuss the similarities and differences between the organization culture approaches of Ouchi and Peters and Waterman.
Find the center of mass of a thin triangular plate bounded by the y-axis and the lines y = x and y = 2 - x if (x, y) = 6x + 3y + 3.
Compute the value of ordinary bonds under the following circumstances assuming that the coupon rate is 0.06:(either the correct formula(s) or the correct key strokes must be shown here to receive...
A tax-exempt municipal bond has a yield to maturity of 3.92%. An investor, who has a marginal tax rate of 40.00%, would prefer and an otherwise identical taxable corporate bond if it had a yield to...
Please note, kindly no handwriting. Q. Suppose a 3 year bond with a 6% coupon rate that was purchased for $760 and had a promised yield of 8%. Suppose that interest rates increased and the price of...

Classify the following accounts into personal, real and nominal accounts: i. Machinery purchased ii. Capital brought to

Question:

Step by Step Answer:

Fundamentals Of Accounting And Financial Analysis

Students also viewed these Business questions