English

Fill in the blank: Increase in capital is credited and decrease in capital is - Book Keeping and Accountancy

Advertisements
Advertisements

Question

Fill in the blank:

Increase in capital is credited and decrease in capital is ______

Fill in the Blanks

Solution

Increase in capital is credited and decrease in capital is debited.

shaalaa.com
Classification of Accounts
  Is there an error in this question or solution?
Chapter 2: Meaning and Fundamentals of Double Entry Book-Keeping - EXERCISE [Page 40]

APPEARS IN

Balbharati Book Keeping and Accountancy [English] 11 Standard Maharashtra State Board
Chapter 2 Meaning and Fundamentals of Double Entry Book-Keeping
EXERCISE | Q 5. 3) | Page 40

RELATED QUESTIONS

Answer in one sentence only.

What is an Account?


Answer in one sentence only:

What is Personal Account?


Write one word/term or phrase which can substitute the following statement.

Name of the account which is debited when proprietor uses business money for personal use.


Select the most appropriate alternatives from the given below and rewrite the statement:

Every debit has corresponding ____________


Select the most appropriate alternatives from the given below and rewrite the statement:

Prepaid expenses is ______ account.


State whether the following statement is True or False with reasons:

Capital account is a real account.


State whether the following statement is True or False with reasons:

Drawings account is a nominal account.


State whether the following statement is True or False with reasons:

Loan account is personal account.


State whether the following statement is True or False with reasons:

Discount account is a nominal account.


Classify the following accounts under the types of Personal, Real and Nominal account:

Mr. Rohit’s capital A/c


Classify the following accounts under the types of Personal, Real and Nominal account:

Loose Tools A/c


Classify the following accounts under the types of Personal, Real and Nominal account:

Prepaid Expenses A/c


Classify the following accounts under the types of Personal, Real and Nominal account:

Commission Received A/c


Classify the following account under the types of Personal, Real and Nominal account:

Freight A/c


Classify the following account under the types of Personal, Real and Nominal account:

Plant and Machinery A/c


Classify the following account under the types of Personal, Real, and Nominal account:

Sundry Income A/c


Classify the following account under the types of Personal, Real and Nominal account:

Bank of Maharashtra A/c


Classify the following account under the types of Personal, Real and Nominal account:

Legal Expenses A/c


Classify the following account under the types of Personal, Real and Nominal account:

Fixed Deposit A/c


Classify the following account under the types of Personal, Real and Nominal account:

Audit Fees A/c


Classify the following account under the types of Personal, Real and Nominal account:

Income tax A/c


Classify the following account under the types of Personal, Real and Nominal account:

Office Equipment A/c


Classify the following account under the types of Personal, Real and Nominal account:

Income Received in Advance A/c


Classify the following account under the types of Personal, Real and Nominal account:

Discount A/c


Share
Notifications

Englishहिंदीमराठी


      Forgot password?
Use app×