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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
From the following transactions, state the nature of account and state which account will be debited and which account credited:
| Transactions | ₹ |
|---|---|
| (i) Manu started business with cash | 1,00,000 |
| (ii) He purchased furniture for business | 20,000 |
| (iii) Purchase goods on credit from Anshul | 6,000 |
| (iv) Paid to his creditor, Anshul | 2,000 |
| (v) Paid salary to his clerk | 1,000 |
| (vi) Paid rent | 500 |
| (vii) Received interest | 200 |
Answer:
| Transactions | Nature of Account (Account Debited / Account Credited) |
|---|---|
| Manu started business with cash | Cash A/c – Debit | Capital A/c – Credit |
| He purchased furniture for business | Furniture A/c – Debit | Cash A/c – Credit |
| Purchased goods on credit from Anshul | Purchases A/c – Debit | Creditor A/c (Anshul) – Credit |
| Paid to his creditor, Anshul | Creditor A/c (Anshul) – Debit | Cash A/c – Credit |
| Paid salary to his clerk | Salary A/c – Debit | Cash A/c – Credit |
| Paid rent | Rent A/c – Debit | Cash A/c – Credit |
| Received interest | Cash A/c – Debit | Interest A/c – Credit |
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.7 - Identifying Accounts Debited and Credited (Manu)", 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.7 - Identifying Accounts Debited and Credited (Manu)" instantly.