Accounting Procedures Rules of Debit & Credit || Chapter 3 ||

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Ques: Following accounts are being maintained in the books of Shri Ashok. Classify them into Personal, Real and Nominal Accounts:

(i) Land and Building

(ii) Creditors

(iii) Excise Duty

(iv) Capital

(v) Goodwill

(vi) Motor Vehicles

(vii) Investments

(viii) Salary

(ix) Bad Debts

(x) Debtors

(xi) Depreciation

(xii) Wages

(xiii) Ramesh, a debtor

(xiv) Repairs

(xv) Bank Overdraft

(xvi) Interest Received

(xvii) Purchase Returns

(xviii) Drawings

(xix) Return Inwards

(xx) Freight. 

The account classification is made as follows:


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