CBSE > Class 11 > Accountancy | CBSE Board | Homework Help

The economic value of an obligation or debt that is payable by the enterprise to other establishment or individual is referred to liability. To put it in other words, liabilities are the obligations that are rising out of previous transactions, which is payable by the enterprise, through the assets possessed by the enterprise.

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Sold goods on cash costing 500 for 700

Posted by Taran Uppal 2 days, 20 hours ago

CBSE > Class 11 > Accountancy

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Sanskar Tiwari 22 hours ago

Cash A/c Dr To Sale A/c

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S K 2 days, 17 hours ago

Cash acc. ...dr To sales acc.

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Important chapters of accountancy in unit test

Posted by Sahil Singh 3 days, 12 hours ago

CBSE > Class 11 > Accountancy

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Sanskar Tiwari 22 hours ago

All chapters are important but numericals chapters are mostly important.

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Income is measured on the basis of whih concept?

Posted by Aryan Gupta 3 days, 16 hours ago

CBSE > Class 11 > Accountancy

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Sanskar Tiwari 23 hours ago

Income is measured on the concept of regulating expences. Income is simply occurs because of proper utilisation of assets.

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Sia 🤖 3 days, 15 hours ago

Economic income may be defined as the operating earnings plus the change in asset values during a time period. Economic income is measured in real terms and results from changes in the value of assets rather than from the matching of revenue and expenses.

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Prepare bank reconciliation statement from the following first Debit balance as per the cash book 15000 second cheque deposit but not cleared 1000 third cheques issued but not presented 1500 bank interest 200

Posted by Vishal Jain 4 days, 10 hours ago

CBSE > Class 11 > Accountancy

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Sold goods to Vishal traders costing 40000 at 25% profit allowing 10% trade discount and 10% cash discount received 80% payment immediately by cheque

Posted by Akshat Modi 4 days, 17 hours ago

CBSE > Class 11 > Accountancy

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Mohan started a business on1st april 2018 with a capital 10000 and borrowed 3000 from a friend. He earn a profit of 5000 during the year end 31 march 2019 and withderw cash 4000 for personal use. Find capital.

Posted by Harman Ghuman 5 days, 2 hours ago

CBSE > Class 11 > Accountancy

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Difference btw acruel basis and cash basis of accounting

Posted by Soma Paul 5 days, 13 hours ago

CBSE > Class 11 > Accountancy

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Yogita Ingle 5 days, 13 hours ago

Cash Basis of Accounting	Accrual Basis of Accounting
Only cash transactions are recorded in the books of accounts	All cash and non-cash transactions are recorded in the books of accounts
Correct profit or loss is not ascertained because it records only cash transactions	Correct profit or loss are ascertained because of the complete record of all the transactions
Entries are made only when cash is received or paid	Entries are made on accrual basis i.e. all transactions are recorded in the books of accounts whether incurred or earned
It is rarely used	It is widely used
It is recognised under Companies Act, 1956	It is not recognised under Companies Act, 1956

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1) Amit started business with cash ₹5,00,000 2) purchased goods on credit ₹50,000 3) paid to creditors ₹30,000 4) paid salaries ₹5,000

Posted by Aasha Sharma 5 days, 20 hours ago

CBSE > Class 11 > Accountancy

1 answers

Sanskar Tiwari 22 hours ago

1. Amit Dr 500000 To Cash A/c. 500000 2. Purchase A/c Dr. 50000 To Cash A/c. 50000 3. Creditors A/c Dr. 30000 To Cash A/c. 30000 4. Cash A/c Dr. 5000 To salary A/c. 5000

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What is accoun

Posted by Shivam Kumar 5 days, 20 hours ago

CBSE > Class 11 > Accountancy