Question

Following accounts are being maintained in the books of Shri Ashok. Classify them into Personal, Real and Nominal Accounts:

(i) Land and Building	(vii) Investments	(xiv) Ramesh, a debtor
(ii) Excise Duty	(viii) Salary	(xv) Interest Received
(iii) Creditors	(ix) Debtors	(xvi) Bank Overdraft
(iv) Capital	(x) Bad Debts	(xvii) Purchase Returns
(v) Motor Vehicles	(xi) Depreciation	(xviii) Drawings
(vi) Goodwill	(xii) Wages	(xix) Freight
	(xiii) Repairs	(xx) Return Inwards.

Answer 1

Item	Nature of Account
Land & Building	Real A/c
Excise Duty	Nominal A/c
Creditors	Personal A/c
Capital	Personal A/c
Motor Vehicles	Real A/c
Goodwill	Real A/c
Investments	Real A/c
Salary	Nominal A/c
Debtors	Personal A/c
Bad Debts	Nominal A/c
Depreciation	Nominal A/c
Wages	Nominal A/c
Repair	Nominal A/c
Ramesh, a debtor	Personal A/c
Interest Received	Nominal A/c
Bank Overdraft	Personal A/c
Purchase Returns	Nominal A/c
Drawings	Personal A/c
Freight	Nominal A/c
Return Inwards	Nominal A/c