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Plz sir tell me basic concept of accounting equation

Posted by Prince Sharma 7 years, 8 months ago

CBSE > Class 11 > Accountancy

3 answers

Aniket Int 7 years, 8 months ago

A=l+C L=A-C C=A-l

0Thank You

Yash Desai 7 years, 8 months ago

A=C+L A=asset C=capital L=liabilities

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Maanvi Chouhan 7 years, 8 months ago

All the assests in equation will add on and every expense subtract from it. Profit will add in capital Loss will subtracted from capital. Creditors bank loan depreciation will add liabilities . Assets =capital+liabilities May it will help u. Thanks

1Thank You

ANSWER

Prudence principal

Posted by Sourav Sharma 7 years, 8 months ago

CBSE > Class 11 > Accountancy

1 answers

Tushar Bakhtani 7 years, 8 months ago

all anticipated losses are shown in balance sheet but anticipated profits are not shown

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ANSWER

Calculate value of goodwill on the basis of three years, purchase of the weighted average profit after assigning weights 1,2,3,4 and 5 respectively to the profits for year ended 31st march 2014,2015,2016,2017 and 2018

Posted by Vishal Kumar 7 years, 8 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

Full form of IFRS

Posted by Rahul Bamola 7 years, 8 months ago

CBSE > Class 11 > Accountancy

1 answers

Divya Kapoor 7 years, 8 months ago

International financial reporting standards

1Thank You

ANSWER

concept of discount in journal entry explination

Posted by Pihu Sharma 7 years, 8 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

Meaning of wages outstanding

Posted by Lalzarmawia Azyu 7 years, 8 months ago

CBSE > Class 11 > Accountancy

1 answers

Vishal Jain 7 years, 8 months ago

Outstanding wages is that amount which is due but not paid yet. Means we have taken services from Labour but we didn't pay wages it's still due to us. So it is our liability

3Thank You

ANSWER

Transfer from caapital to loan solve by using recording of transaction 1

Posted by Lalzarmawia Azyu 7 years, 8 months ago

CBSE > Class 11 > Accountancy

1 answers

Vishal Jain 7 years, 8 months ago

Capital A/c Dr. To loan A/c

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ANSWER

Accounting standards

Posted by Dipesh Jain 7 years, 8 months ago

CBSE > Class 11 > Accountancy

1 answers

Vishal Jain 7 years, 8 months ago

An accounting standard is a common set of principles, standards and procedures that define the basis of financial accounting policies and practices.

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Any formula to solve accounting equation question

Posted by Faizan Ahamad 7 years, 8 months ago

CBSE > Class 11 > Accountancy

1 answers

Anshika Bhadouria 7 years, 8 months ago

Assets =capital + liabilities

1Thank You

ANSWER

What is accrued income?

Posted by Saurabh Yadav 7 years, 8 months ago

CBSE > Class 11 > Accountancy

3 answers

Anshika Bhadouria 7 years, 8 months ago

Accrued income show always debit nature. Accrued income are add in accrued and also add in capital. Accrued income are assets

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Anshika Bhadouria 7 years, 8 months ago

Accrued income is that income which has been earned but not received during the current accounting period.

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Sakshi Kanjani 7 years, 8 months ago

Accrued income is the income which is recievable by us un future. The income is yet to be recieved

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Prepare an accounying equation on the basis of the following transactions : 1. Started business with cash ₹70,000 2. Credit purchase of goods ₹18,000 3. Paymebt made to creditors in full settlements ₹17,500 4. Purchase of machinery for cash ₹20,000 5. Depreciation on machinery ₹2,000.

Posted by Lavesh Jain 7 years, 8 months ago

CBSE > Class 11 > Accountancy

1 answers

Anshika Bhadouria 7 years, 8 months ago

1.70,000 are add in capital or cash. 2.18000 are add in stock which is created in assets or 18000 are add in liabilities create creditors. 3.sub 17,500 from cash and sub180000 from creditors and the profit of 500 is add in capital. 4. Machinery column are created in assets 20000 are add in machinery and 20000 sub in cash . 5.2000 are sub in machinery or capital

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Purchase good from rohan 90000 in 7 dec. Make journal entry

Posted by Ujjwal Pundir 7 years, 8 months ago

CBSE > Class 11 > Accountancy

2 answers

Ujjwal Pundir 7 years, 8 months ago

Purchase A\C debit 90000 To ROHAN A\C. 90000 OKK

1Thank You

Gauri Bhadauria 7 years, 8 months ago

Purchase Dr To. Rohan.

1Thank You

ANSWER

Difference between profit n gain

Posted by Harry Miles 7 years, 8 months ago

CBSE > Class 11 > Accountancy

1 answers

Gauri Bhadauria 7 years, 8 months ago

Profit is included in every sale but gain is casually earned income.

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ANSWER

First term me account me kaun2 se chapter ayenge

Posted by Priyanshu Mishra 7 years, 8 months ago

CBSE > Class 11 > Accountancy

1 answers

Maskeena Maskeena 7 years, 8 months ago

depend on school

2Thank You

ANSWER

What accounting equation - When we started business from taking loan from bank $50,000. What is in the asset and in liabilities

Posted by Nitin Jha 7 years, 8 months ago

CBSE > Class 11 > Accountancy

3 answers

Nitin Jha 7 years, 8 months ago

Bhai lekin bank se jo loan leke business start kiye wo knsa column me jayga

1Thank You

Nitin Jha 7 years, 8 months ago

Thanks bh

1Thank You

Yash Sharma 7 years, 8 months ago

Cash is an asset and taking loan is an liability

3Thank You

ANSWER

Which type of accounts are never balance but are totalled

Posted by Aman Kumar 7 years, 8 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

Easy definition of liability

Posted by Sandeep Sanwal 7 years, 8 months ago

CBSE > Class 11 > Accountancy

3 answers

Pihu Agrawal 7 years, 8 months ago

The loan and obligation which is payble by the business concern is called liabilities

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Anshika Bhadouria 7 years, 8 months ago

Liabilities mean amount paid by the business

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Richa Bavankar 7 years, 8 months ago

a person who is liable to pay back the debts

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ANSWER

Why is Indian economic period is between 1 April to 31 march and not like other with 1st January to 31 december

Posted by Anshul Sharma 7 years, 8 months ago

CBSE > Class 11 > Accountancy

1 answers

Ujjwal Pundir 7 years, 8 months ago

Kyuki hmara new year april se hi start hota hai.

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ANSWER

Sold goods for cash costing rs40000 at a profit of20% and on credit costing rs 72000 at a profit of 25%

Posted by Aabhas Sharma 7 years, 8 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

How to download pdf of accounts chapter?

Posted by Maanvi Chouhan 7 years, 8 months ago

CBSE > Class 11 > Accountancy

2 answers

Jatin Saini 7 years, 8 months ago

Download MY CBSE GUIDE

1Thank You

Dharvin Das 7 years, 8 months ago

Eysiekit

1Thank You

ANSWER

What is accrual concepl

Posted by Saugat Adlakha 7 years, 8 months ago

CBSE > Class 11 > Accountancy

1 answers

Naman Sinha 7 years, 8 months ago

The accrual concept in accounting means that expenses and revenues are recorded in the period they occur, whether or not cash is involved. The benefit of the accrual approach is that financial statements reflect all the expenses associated with the reported revenues for an accounting period.

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Manohar Lal started business with cash

Posted by Vikash Patel 7 years, 8 months ago

CBSE > Class 11 > Accountancy