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

You mean fixtures? Fixtures are those furniture which are mounted on wall or roof . Showcases, blackboard in classroom , fans,tube lights etc. These are fixed assets

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What is outstanding expense?

Posted by Parijot Kaur 7 years, 7 months ago

CBSE > Class 11 > Accountancy

4 answers

Ashtrix Official 7 years, 7 months ago

Expense which we have to pay but we haven't oaid yet. It is liability

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Jatin Chhabra 7 years, 7 months ago

Those expenses which are due but not paid....

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Shashi Ramachandran 7 years, 7 months ago

Expwnses which are due this year but we're not paid. This is an example of personal account . It is a liability for the firm. As per accrual basis of accountancy it is to. Be added to paid expenses for calculating profit or loss of this year

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Sanskriti Pundir 7 years, 7 months ago

Due but not paied

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Disadvantages of Double Entry System

Posted by Ayush Tiwari 7 years, 7 months ago

CBSE > Class 11 > Accountancy

1 answers

Mukesh Kumar 7 years, 7 months ago

Disadvantages in a small business, some small enterprise uses double-entry software of double-entry personal finance software but software is not a final solution for an organization because a person control software if he could input wrong or error entry than the accounts cannot be flawless. this is the basics double entry .

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Name the branch of commerce which keep a record of monetary transaction in a set of book

Posted by Ayushi Singh 7 years, 7 months ago

CBSE > Class 11 > Accountancy

1 answers

Dhanashri Kadam 7 years, 7 months ago

Financial accounting

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Do we

Posted by Vishal Kumar 7 years, 7 months ago

CBSE > Class 11 > Accountancy

1 answers

Priyanshu Sharma 7 years, 7 months ago

What do we

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Meaning of business entity concept

Posted by Pritesh Sethia 7 years, 7 months ago

CBSE > Class 11 > Accountancy

2 answers

Dhanashri Kadam 7 years, 7 months ago

business is separate from its ownership it has its own identity apart from the ownership the accounts are recorded with the point of view of business and not that of the business owner

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Shashi Ramachandran 7 years, 7 months ago

business and proprietor are two different entity. if proprietor invest in his own business that should be treated as a liability in the books of accounts. same way if proprietor withdraws money from business for his personal use that also to be recorded (asset) and also interest is to be charged. This entity differentiate personal transaction with business transaction to give a fair picture of profit and loss of business

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Calculate total equity if 1. Owners equity in the beginning rs. 60000 2. Equity of creditors at the end rs 50000 3. Revenue during the year rs 70000 4. Expenses during the same year rs 65000 Also calculate the amount of owners equity at the end

Posted by Kiran Verma 7 years, 7 months ago

CBSE > Class 11 > Accountancy

1 answers

Shashi Ramachandran 7 years, 7 months ago

owners equity (capital) in the end= owner's equity + Revenue - Expenses
= 60000+70000-65000
= 65000
total Equity = owner's equity at the end + Equity of Creditors (liability)
= 65000 + 50,000
= 1,15,000

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How to solve: Journalise the following transactions of Rakesh agencies,Delhi Jan 5) purchased goods from Mohan,Delhi on credit for ₹6000 Jan 31) Rejected and returned 10% of goods supplied by mohan ( CGST and SGST are levied at 6% each )

Posted by Shreya Mehta 7 years, 7 months ago

CBSE > Class 11 > Accountancy