Question

Identify the group and sub group under which the following ledger accounts are to be created. 

(a) Depreciation 

(b) Carriage inward 

(c) Bills Receivable 

(d) Drawings

Answer 1

	Ledger Account	Group	Sub Group
a)	Depreciation	indirect expenses	None
b)	Carriage inward	Direct Expenses	None
c)	Bills receivable	Current Assests	Sundry Debtors
d)	Drawings	Capital	None