State in Column A the side on which each of the accounts listed below would have its balance, and in column B whether you would classify each of the named accounts as an asset account, liability account, capital account, expense account or income account.

The Purchases account is regarded as an expense on the assumption that all goods purchased have been sold by the year-end. Admittedly this assumption is unrealistic for most businesses.

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Name of account 1. Capital account 2. Motor vehicles account 3. Purchases account 4. Sales account 5. Rent account 6. Cash account 7. Bank account (overdraft) 8. Staff welfare account 9. Telephone expenses a/c 10. Loan from John account 11. Salaries account 12. Stationery account Column A (debit side or credit side) Column B (classify the account)