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Question No 02 Chapter No 2 – D.K Goal Class 11

Question No 02 Chapter No 2

Question No 02 Chapter No 2

Q.2. On which side the decrease in the following accounts will be recorded? Also mention the nature of account:−

1 Cash 5 Prepaid Insurance 
2 Bank Overdraft 6 Manoj, Proprietor of the business
3 Rent Paid    
4 Outstanding Rent     

The solution of Question No 02 Chapter No 2: –

Accounts Increase Recorded at Side
Nature
1. Cash Debit Asset
     
2. Bank Overdraft Credit Liability
     
3. Rent Paid Credit Expense
     
4. Outstanding Rent Credit Liability
     
5. Prepaid Insurance Debit Asset
     
6. Manoj, Proprietor of the business Credit Capital
     

Check out our article on the meaning of financial accounting: 

https://tutorstips.com/introduction-to-financial-accounting/

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Also, Check out the solved question of all Chapters from the following links: –

D K Goel – New ISC Accountancy -(Class 11 – ICSE)- Solution

Check out the Accountancy Class +1 by D.K. Goal (Arya Publication) from their official Site.

D K goel accountancy +1 - ISC_Accounts_11_20_Image-min
D K Goel accountancy +1 – ISC_Accounts_11_20_Image

 

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