Merton classification of Accounts
Accounts
Asset Accounts
Land & Building, Plant
& Machinery, Furniture, Inventory
Liabilities Accounts
Creditors
O/S Exps.
Loan tabor
Capital Accounts
Capital Accounts of owner
Current A/c of partners
Revenue Accounts
Income & claim
Sales-Sales return
Discount Received
Interest Received
Bad Debts Received
Expense Accounts
Purchases A/c
Wages paid
Depreciation
Discount allowed
Purchases Returns
Rules for Debit (Dr.) and
Credit (Cr.) at glance
Dr.
Cr.
|
Types Accounts |
Accounts to be Dr. (Debit) |
Accounts to be Cr. (Credit) |
|
Assets Accounts Liabilities Accounts Capital Accounts Revenue Accounts Expense Accounts |
Increase (ਵੱਧਦਾ ਹੈ) Decrease (ਘੱਟਦੀ ਹੈ) Decrease (ਘੱਟਦੀ ਹੈ) Decrease (ਘੱਟਦਾ ਹੈ) Increase (ਵੱਧਦਾ ਹੈ) |
Decrease (ਘੱਟਦਾ ਹੈ) Increase (ਵੱਧਦੀ ਹੈ) Increase (ਵੱਧਦੀ ਹੈ) Increase (ਵੱਧਦਾ ਹੈ) Decrease (ਘੱਟਦਾ ਹੈ) |
