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1.

Classify the following into three types of personal account:- `{:(I.,"Capital Account"),(II.,"Tata Steel Company"),(III.,"Debtors Accounts"),(IV.,"Outstanding Expenses Account"),(V.,"Bank Account"),(VI.,"Haryana Education Board"),(VII.,"Shri Ram College of Commerce"):}`

Answer» `{:("Natural Personal Accounts",I","III"."),("Artificial Personal Accounts",II","V","VI","VII"."),("Representative Personal Accounts",IV"."):}`
Discussion
2.

State to which class of accounts does each of the following relate:- `{:(I.,"Cash",,V.,"Creditors"),(II.,"Bank",,VI.,"Commission Received"),(III.,"Trade Marks",,VII.,"Accrued Commission"),(IV.,"Debtors",,VIII.,"Commission Received in Advance"):}`

Answer» `{:("Personal Accounts",II","IV","V","VII","VIII"."),("Real Accounts",I","III"."),("Nominal Accounts",VI"."):}`
Discussion
3.

Classify the following accounts under personal, real or nominal accounts : `{:((i),"Commission Paid",,(ii),"Commission Received"),((iii),"Commission Accrued",,(iv),"Prepaid Salaries"),((v),"Leasehold Property A/c",,(vi),"Discount Allowed"),((vii),"Carriage Inwards A/c",,(viii),"Life Insurance Corporation of India"),((ix),"Drawings A/c",,(x),"Rent Received in Advance"),((x i),"Debtors",,(x ii),"Sales A/c"),((x iii),"Rent Paid in Advance",,(x iv),"Bank Overdraft"):}`

Answer» `{:("Personal Accounts",:,(iii)","(iv)","(vii)","(ix)","(x)","(x i)","(x ii)","(x iv)),("Real Accounts",:,(v)),("Nominal Accounts",:,(i)","(ii)","(vi)","(vii)","(x ii)):}`
Discussion