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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
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On which side will the increase in the following accounts be recorded? Also, state the nature of the account:
(i) Furniture A/c (ii) Mohan (proprietor) (iii) Salary A/c (iv) Purchases A/c (v) Sales A/c (vi) Interest Paid A/c (vii) Sohan (Creditor) (viii) Ram (Debtor)
Answer:
| Name of Accounts | Consequence of Increase | Modern Approach | Traditional Approach | |
|---|---|---|---|---|
| (i) | Furniture | Debit | Assets | Real Account |
| (ii) | Mohan (Proprietor) | Credit | Capital | Personal Account |
| (iii) | Salary | Debit | Expense | Nominal Account |
| (iv) | Purchases | Debit | Expense | Nominal Account |
| (v) | Sales | Credit | Revenue | Nominal Account |
| (vi) | Interest Paid | Debit | Expense | Nominal Account |
| (vii) | Sohan (Creditor) | Credit | Liabilities | Personal Account |
| (viii) | Ram (Debtor) | Debit | Assets | Personal Account |
Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
This guide covers "T.S. Grewal Class 11 Chapter 6 Q.4 - Side of Increase in Accounts with Modern and Traditional Approach", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to Chapter 6 - Accounting Procedures - Rules of Debit and Credit.
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.
You can take our custom-built interactive practice quiz directly on this page to test your understanding of "T.S. Grewal Class 11 Chapter 6 Q.4 - Side of Increase in Accounts with Modern and Traditional Approach" instantly.