What is the main topic of "Question No 02 Chapter No 1 - USHA Publication 11 Class"?

This guide covers "Question No 02 Chapter No 1 - USHA Publication 11 Class", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to USHA Publication +1 Elements of Book-Keeping.

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It is primarily curated for Class 11 and Class 12 high school commerce, accounting, and economics students, as well as aspirants preparing for board exams or CA Foundation.

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Question No 02 Chapter No 1 - USHA Publication 11 Class

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Focus Topic:Question No 02 Chapter No 1 - USHA Publication 11 Class

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Comprehensive academic guide covering core concepts of Question No 02 Chapter No 1 - USHA Publication 11 Class.
Syllabus-aligned study material with detailed definitions, formats, and practical examples.
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Question No 02 Chapter No 1

02. Identify the assets, liabilities, expenses and income from the following:

Rent paid; Land and building; cash in hand; Creditors; Salary outstanding; Commission received; Furniture; Bank loan; Fright on purchase of goods; Debtors; Motor vehicles; Interest received; Bank balance

The solution of Question No 02 Chapter No 1: -

Rent Paid	= Expense
Land & building	= Asset
Cash in hand	= Asset
Creditors	= Liability
Salary outstanding	= Liability
Commission received	= Income
Furniture	= Asset
Bank Loan	= Liability
Freight on purchased of goods	= Expense
Debtors	= Asset
Motor vehicles	= Asset
Interest received	=Income
Bank balance	= Asset