[ISC] Q 4 Journal Solutions TS Grewal Class 11 (2022-23)

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Are you looking for the solution of Question number 4 Journal TS Grewal class 11 ISC 2022-23?

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

(i) Cash

(ii) Bank Overdraft

(iii) Outstanding Salary Paid

(iv) Outstanding Rent

(iv) Outstanding Rent

(vi) Mohan, Proprietor of the Business

Solution:-

Account NameSide (Decreases)
1) CashCredit (Assets)
2) Bank OverdraftDebit (Liability)
3) Outstanding Salary PaidDebit (Liability)
4) Outstanding RentDebit (Liability)
5) Prepaid InsuranceCredit (Assets)
6) Mohan, Proprietor of the BusinessDebit (Liability)

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