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Get complete step-by-step solutions for D.K Goal +1 New ISC Accountancy - Chapter No. 4 - Double Entry System. Study double-entry system details, practice timed problems, and verify answers directly.
Question No 01 Chapter No 4
Q.1. Classify the following accounts under personal, real, or nominal accounts:
| (i) | Commission Paid | (ii) | Commission Received |
| (iii) | Commission Accrued | (iv) | Prepaid Salaries |
| (v) | Leasehold Property A/c | (vi) | Discount Allowed |
| (vii) | Carriage Inwards A/c | (viii) | Life Insurance Corporation of India |
| (ix) | Drawings A/c | (x) | Rent Received in Advance |
| (xi) | Debtors | (xii) | Sales A/c |
| (xiii) | Rent Paid in Advance | (xiv) | Bank Overdraft |
| Personal Accounts | Real Accounts |
Nominal Accounts |
|---|---|---|
| (iii) Commission Accrued | (v) Leasehold Property | (i) Commission Paid |
| (iv) Prepaid Salaries | (ii) Commission Received | |
| (viii) Life Insurance Corporation of India | (vi) Discount Allowed | |
| (ix) Drawings Account | (vii) Carriage Inwards Account | |
| (x) Rent Received in Advance | (xii) Sales Account | |
| (xi) Debtors | ||
| (xiii) Rent Paid in Advance | ||
| (xiv) Bank Overdraft | ||
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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.