DK Goel Solutions Chapter 7 Double Entry System

DK Goel Accountancy Class 11 Solutions Chapter 7 Double Entry System which is outlined by expert Accountancy teachers from the latest version of DK Goel Class 11 Accountancy books. We at BYJU’S provide DK Goel Solutions to assist students to comprehend all the theories in particular. There are numerous concepts in Accountancy, but the concepts of Trial Balance, Depreciation and Bank Reconciliation Statement (BRS) are required.

DK Goel Accountancy Class 11 Solutions – Chapter 7

Question 1

Classify the following into real, personal, or Nominal account.

1. Capital 2. Drawings 3. Cash paid 4. Cash Received 5. Commission Paid 6. Commission Received 7. Purchases A/c 8.Sales A/c 9. Furniture 10. Cash A/c 11. Bank A/c 12. Bank Overdraft 13. Debtors A/c 14. Creditors A/c 15. Traveling Expenses 16. Goodwill 17. Patents 18. Salary A/c 19. Salary Outstanding A/c 20. Insurance A/c 21. Insurance Prepaid A/c 22. Bad Debts are written off 23. Bad Debts Recovered

Solution

Personal Account

Real Account

Nominal Account

1. Capital

2. Drawings

11. Bank A/c

12. Bank Overdraft

13. Debtors A/c

14. Creditors A/c

19. Salary Outstanding A/c

21. Insurance Prepaid A/c

3. Cash paid

4. Cash Received

9. Furniture

10. Cash A/c

16. Goodwill

17. Patents

5. Commission Paid

6. Commission Received 7. Purchases A/c

8.Sales A/c

15. Traveling Expenses

18. Salary A/c

20. Insurance A/c

22. Bad Debts are written off

23. Bad Debts Recovered

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