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Whats is the incomplete record

Posted by Rohit Kashyap 7 years, 2 months ago

1 answers

Syed Nabeel Haider 7 years, 2 months ago

It refers to situation when any organisation or businessman is not using double entry system. Incompete records is also known for single entry system.

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ANSWER

Journal entry for further bad debts

Posted by Neha _ 7 years, 2 months ago

CBSE > Class 11 > Accountancy

1 answers

Tisha Lamba 7 years, 2 months ago

Bad debts a/c ....Dr. To debtors a/c

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Why current year provision less from last year provision

Posted by Anand Bharti 7 years, 2 months ago

CBSE > Class 11 > Accountancy

1 answers

Neha _ 7 years, 2 months ago

its current year's bad debts which is deducted from old(last year) provision and if old provision still remain then we deduct current year provision because provision is made of any known liability and we can't make anothet provision for same purpose without using old one

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What is voucher?

Posted by Vikram Rao 7 years, 2 months ago

CBSE > Class 11 > Accountancy

1 answers

Syed Nabeel Haider 5 years, 11 months ago

Voucher is the evidence or identification of transaction which is made in the journal entry.

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What are the various classes in double entry system

Posted by The Animal Bobby K 7 years, 2 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

What do you mean by adjustment entries

Posted by Nasim 786 7 years, 2 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

Madhavi plastics close their books of account on 31st march 2017. Stock taking takes about two weeks till 16th april. The value of closing stock thus arrived at was 45,000. During the two weeks in which stock taking took place, purchase made were 5,000 and total sales were 12,000. The firm makes a gross profit of 40% on sales, ascertain the value of closing stock on 31st march 2017.

Posted by Adesh Pachori 7 years, 2 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

When is suspense account prepared

Posted by Sanyam Bansal 7 years, 2 months ago

CBSE > Class 11 > Accountancy

3 answers

Gargi Dandavate 7 years, 2 months ago

When you are rectifying the entries after making the trial balance, you may come across some one sided errors like overcasting, recording twice, omission of posting etc. In such cases either you don't know the account where second effect of the entry is given or there can't be any such account that can possibly have the second effect (overcasting). In such cases suspense A/c comes into the scene.

1Thank You

Yash Gupta 7 years, 2 months ago

It is created whenever we didn't know where the amount had been debited or credited

2Thank You

Gaurav Seth 7 years, 2 months ago

A suspense account is an account in the general ledger in which amounts are temporarily recorded. The suspense account is used because the proper account could not be determined at the time that the transaction was recorded.

The suspense account is a general ledger account that acts as a holding account until the error is discovered or the unknown transaction is identified. When working with the trial balance, you can open one suspense account to hold all of the discrepancies until you find them.

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Why closing stock does not appear in trial blance ?

Posted by Sanyam Bansal 7 years, 2 months ago

CBSE > Class 11 > Accountancy

1 answers

Adesh Pachori 7 years, 2 months ago

Closing stock is the leftover balance out of goods which were purchased during an accounting period. Total purchases are already included in the trial balance, Hence closing stock should not be included in the trial balance again. If it is included, the effect will be doubled.

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Give two examples of liquid assets

Posted by Rohitash Rohilla 7 years, 2 months ago

CBSE > Class 11 > Accountancy

1 answers

Naman Kumar 7 years, 2 months ago

Cash at bank, cash in hand, bills receivable

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Anyone's final exams going on????

Posted by Mehak Ashta 7 years, 2 months ago

CBSE > Class 11 > Accountancy

1 answers

Akshara Gautam 7 years, 2 months ago

Yes

2Thank You

ANSWER

When is closing stock shown in the trial balance

Posted by Akshara Gautam 7 years, 2 months ago

CBSE > Class 11 > Accountancy

2 answers

Milly Rai 7 years, 2 months ago

When opening stock and purchase are given

3Thank You

Mehak Ashta 7 years, 2 months ago

Not mentioned..in trial balance

2Thank You

ANSWER

Plz send project

Posted by Nehal Gupta 7 years, 2 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

Accounting provides information about the profitability and financial soundness of a concern. In addition, it provides various other valuable information also. However, accounting has certain Limitations? Explain the limitation which is concerned with the manipulation of accounts. [1]

Posted by Aman Vishwakarma 7 years, 2 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

Give an example of a transaction which increasess one liability and decrease other

Posted by Sanju Baba 7 years, 2 months ago

CBSE > Class 11 > Accountancy

1 answers

Mehak Ashta 7 years, 2 months ago

Payment of outstanding expenses....o/exp increase and capital decrease...

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Where is bank reconciliation statement

Posted by Shubham Rawat 7 years, 2 months ago

CBSE > Class 11 > Accountancy

1 answers

Manpreet Kaur 7 years, 2 months ago

BRS is a list of statements that causes difference between bank balance as per cash book and bank balance as per pass book ? ?

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ANSWER

Where is bank reconciliation statement?

Posted by Shubham Rawat 7 years, 2 months ago

CBSE > Class 11 > Accountancy

2 answers

Naman Kumar 7 years, 2 months ago

Brs may be defined as a statement which is prepared to reconcile the bank balances per cash book and pass book and to ascertain the causes of difference

1Thank You

Mehak Ashta 7 years, 2 months ago

Its a statement in which the dr. Balance of cash book should be matched with that of pass book.its draws out differences while balancing .....

1Thank You

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Diffrence between statement of affair and balance sheet

Posted by Sankalp Ganera 7 years, 2 months ago

CBSE > Class 11 > Accountancy

1 answers

Milly Rai 7 years, 2 months ago

Statement of affairs follows single entry system while b/s follows double entry system. In statement of a affairs omissions can't be known but in balance sheet omissions can be known.

1Thank You

ANSWER

Project work

Posted by Khushi Goyal 7 years, 2 months ago

CBSE > Class 11 > Accountancy