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

A.) It is wrong. B.) convention of full disclosure. C.) It states that all sort of information which is of material fact to the users of financial statement should be disclosed properly by the way of food notes.

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Sunil draw a bill on Anil for 3 months full stop on the due date Anil find himself in financial difficulties and request Sunil to renew the bill for a few the period of 1 months Sunil agree to request what value in involved in renewing the will

Posted by Pushpraj Singh 7 years, 1 month ago

CBSE > Class 11 > Accountancy

1 answers

Rajat Sharma 7 years, 1 month ago

The value shown by Sunil is helping attitude

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Calculate the due date of bill of exchange written on 13 July 2017 for 30 days?

Posted by Pushpraj Singh 7 years, 1 month ago

CBSE > Class 11 > Accountancy

2 answers

Sakshi Sharma??️??️ 7 years, 1 month ago

14 August 2k17

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Dhruti Mistri 7 years, 1 month ago

14 august 201u

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Gift to different use available to a holder of dealing with bill receivable?

Posted by Pushpraj Singh 7 years, 1 month ago

CBSE > Class 11 > Accountancy

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What is imprest system of petty cash book?

Posted by Pushpraj Singh 7 years, 1 month ago

CBSE > Class 11 > Accountancy

1 answers

Gaurav Seth 7 years, 1 month ago

The cash book that records payments of small expenses of small denomination such as postage, stationery, conveyance, etc. This cash book is maintained by a cashier called Petty Cashier and is known as Petty Cash Book.

Under Imprest System, a fixed sum of money is given to the petty cashier at the beginning of period and at the end the amount actually spent is reimbursed so as he/she has the same fixed amount of money in the beginning of next period.

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Land and buildingare shown at rs 50 lacin the balance sheet by mr X .however as per the certificate of government approvedvaluer the tealisable value of land and building of rupees 180 Mr X want to show the land and building at this value in his book. can he do so .give reason?

Posted by Pushpraj Singh 7 years, 1 month ago

CBSE > Class 11 > Accountancy

1 answers

Akshit Jain 7 years, 1 month ago

Yes he xan maje secreate reserve

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What do you mean by error of principle nd compensating error

Posted by Jot Sandhu 7 years, 1 month ago

CBSE > Class 11 > Accountancy

2 answers

Syed Nabeel Haider 7 years, 1 month ago

Principle Error- It means the voilations of Accounting principle as we treat the transaction to wrong Accounts.ex(Treating the purchase of fixed asset as posted in revenue expenditure). Compensating Error- When one error is nullified by other error.ex ( Cash paid to ram ) So we have to post the ram in Dr. side and cash in Cr. side but wrongly we post ram in Cr. Side and cash in Dr. side...

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Gargi Dandavate 7 years, 1 month ago

Errors of principle are where the basic concepts are wrong.. Paid wages for installation of the machinery 500 Wages A/c.......dr. 500 To Cash A/c 500. This is a common example of error of principle Compensating errors are where the trial balance agrees in spite of one sided errors that have the opposite nature (Dr. And Cr.) but same amount.. Wrong debit rs 300 and wrong credit rs 300 is an example of compensating error

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How we can calculate profit and loss in depreciation

Posted by Narvir Rana 7 years, 1 month ago

CBSE > Class 11 > Accountancy

1 answers

Navneet Kaur 7 years, 1 month ago

Dericiation+sold amount - bal b/d

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What is promisary note

Posted by Maroof Siddiqui 7 years, 1 month ago

CBSE > Class 11 > Accountancy

1 answers

Piyush Bhatnagar 7 years, 1 month ago

A promisory note is an instrument in writing (not being a bank note or a currency note) containing an unconditional undertaking signed by the maker to pay a certain sum of money only or to the order of a certain person or to be the bearer of the instrument.

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What do you mean by contra entry

Posted by Rohit Sharma 7 years, 1 month ago

CBSE > Class 11 > Accountancy

1 answers

Divyanshu Jain 7 years, 1 month ago

Its is used when we deposited or withdraw cash from the bank . Its is used only in cash book double coloumn

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Helloo

Posted by Harsh Agrawal 7 years, 1 month ago

CBSE > Class 11 > Accountancy

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Bhushan and company purchased a machinery on 1st April 2009,for Rs.54000 and spent Rs.6000 on its installation.On 1st December 2010,it purchased another machine for Rs 30000. On 30th June 2011,the first machine purchasedbon 1st April 2009 is sold for Rs 36000 and on the same date it purchased a new machinery for Rs 80000. On December 1,2012 ,the second machine (purchased on Dec 1,2010)was also sold off for Rs 26000. Depreciation was provided on machinery @10%p.a.on Original cost Method anually on 31st March .Give the machinery account fir four years.

Posted by Harsheet Singh 2 years, 7 months ago

CBSE > Class 11 > Accountancy

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Bill was retained by Mr.x till the date of maturity than what is the entry of this line

Posted by Krishna Chaudhary 7 years, 1 month ago

CBSE > Class 11 > Accountancy

1 answers

Divyanshu Jain 7 years, 1 month ago

Bank a/c dr. To Bills receivablea/c

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Calculate closing stock from the following details: Opening stock 2000 Cash sales 60000 credit sales 40000 Purchase 70000 Rate of gross profit on Cost 33 1/3%

Posted by Divyanshu Jain 7 years, 1 month ago

CBSE > Class 11 > Accountancy

1 answers

Navneet Kaur 7 years, 1 month ago

Total sales = 100000 Gp= 25000 {100000×1/4} Cost of good sold = net sales- gross profit 100000- 25000 =75000 Cost of good sold = opening stock + purchase + direct expenses - closing stock 75000= 2000+70000- c/s 3000= closing stock {There is no direct expenses in question}

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Formula of net sales

Posted by Ankit Maini 7 years, 1 month ago

CBSE > Class 11 > Accountancy

2 answers

Navneet Kaur 7 years, 1 month ago

Net sales = cash sales+credit sales

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Divyanshu Jain 7 years, 1 month ago

Net sales = cost of goods sold + gross profit

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What is dr. Stands for?

Posted by Vaibhav Singh 7 years, 1 month ago

CBSE > Class 11 > Accountancy

1 answers

Hʌʀɩoɱ Ɱɩsʜʀʌ 7 years, 1 month ago

Debit (dr) credit (cr)

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Adjustment of bill dishonered in final a/c?

Posted by Indushekhar Singh 7 years, 1 month ago

CBSE > Class 11 > Accountancy

2 answers

Indushekhar Singh 7 years, 1 month ago

You are wrong it will appear in balance sheet (-from b/r and +to debtors)

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Divyanshu Jain 7 years, 1 month ago

There is no entry in books of final account

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20 transaction on journal, ledger, trial balance,trading account, profit and loss account and balance sheet

Posted by Nawab Rishi 7 years, 1 month ago

CBSE > Class 11 > Accountancy

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Meaning of prudence of conservatism

Posted by Disha Dhiman 7 years, 1 month ago

CBSE > Class 11 > Accountancy

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60entries with journel ledger trial book balance cashbook balance sheet.

Posted by Aakash Panwar 7 years, 1 month ago

CBSE > Class 11 > Accountancy

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Principle of accounting in hindi

Posted by Hatsh Sharma 7 years, 1 month ago

CBSE > Class 11 > Accountancy

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Ram draws a bill for 2,000 on Shyam on 15th September, 2017 for 3 months. On maturity, Shyam failed to honour the bill. Pass the necessary Journal entries in the books of Ram and Shyam

Posted by Radhika Singhal 7 years, 1 month ago

CBSE > Class 11 > Accountancy

1 answers

Divyanshu Jain 7 years, 1 month ago

In books of ram B/r a/c dr. 2000 To shayam. 2000 Shayam a/c dr. 2000 To B/r. 2000 In books of shayam Ram a/c dr. 2000 To B/p. 2000 B/p a/c dr. 2000 To ram. 2000

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