[ISC] Q 3 Journal Solutions TS Grewal Class 11 (2022-23)

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Are you looking for the solution of Question number 3 Journal TS Grewal class 11 ISC 2022-23?

On which side will the increase in the following accounts be recorded? Also, mention the nature of the account:

(i) Furniture A/c(ii) Mohan (Proprietor)(iii) Salary A/c
(iv) Purchases A/c(v) Sales A/c(vi) Interest Paid A/c
(vii) Sohan (Creditor)(viii) Ram (Debtor)

Solution:-

Accounts NameSide
1) Furniture A/cDebit (Asset)
2) Mohan (Proprietor)Credit (Capital)
3) Salary A/cDebit (Expenses)
4) Purchases A/cDebit (Expenses)
5) Sales A/cCredit (Revenue)
6) Interest Paid A/cDebit (Expense)
7) Sohan (Creditor)Credit (Liability)
8) Ram (Debtor)Debit (Asset)

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