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

Ask questions which are clear, concise and easy to understand.

Ask Question

What is provision and reserve

Posted by Aditya Srivastava 8 years, 3 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

Different, between, Biil, difference between bill of exchange and promissory note

Posted by Har Ha 4 years, 9 months ago

CBSE > Class 11 > Accountancy

1 answers

Sia ? 4 years, 9 months ago

Bill of Exchange	Promissory Note
Definition
A negotiable instrument issued to order the debtor to pay the creditor a certain sum of money within a specific date or on demand.	A negotiable instrument issued by the debtor with a written promise to pay the creditor a certain amount within a specific date or on demand.
Section
Mentioned in Section 5 of the Negotiable Instruments Act, 1881	Mentioned in Section 4 of the Negotiable Instruments Act, 1881
Issued By
Creditor	Debtor
Parties Involved
Three parties involved i.e a drawer, the drawee and a payee.	Two parties involved i.e a drawer/maker and the payee
Acceptance
Drawee needs to accept the bill of exchange before payment.	No acceptance required from the drawee.
Liability
Liability of drawer is secondary and conditional.	Liability of drawer is primary and absolute.
Dishonouring of instrument
Notice served to all the concerned parties involved in the transaction on dishonouring the instrument.	No notice served to the drawer in case of dishonouring the instrument.
Copies
Bill of exchange can have copies.	The promissory note allows no copies.
Is it Payable to drawer/maker
Yes, the same person can be drawer and payee.	The same person cannot be drawer and payee.

0Thank You

ANSWER

Purchase good for cash

Posted by Ashutosh Verma 8 years, 3 months ago

CBSE > Class 11 > Accountancy

1 answers

Neha Yadav 8 years, 3 months ago

Purchase A/C Dr. To cash A/C (being goods purchase for cash)

1Thank You

ANSWER

how to prepare provision for depreciation in easy way

Posted by Mehraj Goyal 8 years, 3 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

On pg223 of accountancy ncert book,in Q24,point 1, Why manas ac is debited with 5000 and suspense ac is debited with 1100?

Posted by Isha Shrivastava 8 years, 3 months ago

CBSE > Class 11 > Accountancy

1 answers

Anshika Mishra 8 years, 3 months ago

Crrect entry is - Suspense a/c Dr 11000 Manas a/c Dr 15000 To purchases a/c 10000 To sales a/c 16000 (Being goods sold to manas rs.16000 were wrongly posted to purchases a/c as 10000 and debited to manas a/c as 1000) niche wala smjh gi hogi aap ki purchase and sales me 10000 and 16000 kkaise hua iska total krenge to aayga 26000 in Cr. So this have to match with debit also for this it is given that from manas deduct 1000 so amt.will be 15000 thus u can understood ......... .

1Thank You

ANSWER

What is noting charges???

Posted by Navpreet Kaur 8 years, 3 months ago

CBSE > Class 11 > Accountancy

1 answers

Gaurav Bansal 8 years, 3 months ago

The bill was properlý presented and dishonoured , the bill is usually handed over to a person called 'notary public',appointed by the court. The notary public charges a small fee for the service rendered by him which is called 'noting charges '. Such charges are paid to the notary public first by the holder of the bill but are ultimately recovered from the acceptor because he is the person responsible for the dishonour.

2Thank You

ANSWER

Liabilities stands for which account personal real or nominal ???

Posted by Janya Choubisa 8 years, 3 months ago

CBSE > Class 11 > Accountancy

2 answers

Prayush Gupta 8 years, 3 months ago

Representative personal account

1Thank You

Riya Vijay 8 years, 3 months ago

I think personal account.

2Thank You

ANSWER

Marshalling

Posted by Rudraksh Sharma 8 years, 3 months ago

CBSE > Class 11 > Accountancy

2 answers

Prayush Gupta 8 years, 3 months ago

Arrangements of assets in their permance and liquidity

1Thank You

Gaurav Bansal 8 years, 3 months ago

Marshalling is the arrangements of assets and liability in a particular order in the balance sheet

1Thank You

ANSWER

What is the use of financial statement?

Posted by Shalini Koranga 8 years, 3 months ago

CBSE > Class 11 > Accountancy

1 answers

Gaurav Bansal 8 years, 3 months ago

1.To provide true profit or loss 2.To depict the financial position of the business

2Thank You

ANSWER

Financial statement

Posted by Avi Avi 8 years, 3 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

What is dabit card

Posted by Rahul Bind 8 years, 3 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

outstanding expenses is debited or credited in accounting equation

Posted by Tina Rathore 8 years, 3 months ago

CBSE > Class 11 > Accountancy

1 answers

Ritikesh Kumar 8 years, 3 months ago

Outstanding expenses are post in liability in accounting equation

1Thank You

ANSWER

Received a cheque from navin for rs 380 and deposited into bank on same day

Posted by Muskan Kamboj 8 years, 3 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

Prepare trial balance Bank overdraft.... Rs. 80,000 Purchase......Rs.3,90,000 Outstanding expenses... Rs. 20,000 Sales... Rs. 4,20,000 Rent paid in advance... Rs.30,000 Purchase return.....Rs.10,000 Opening stock...Rs.1,10,000 Fixed assets.... Rs.2,00,000 Interest received.... Rs.15,000 Bank loan... Rs.1,85,000

Posted by Kajal Joshi 8 years, 3 months ago

CBSE > Class 11 > Accountancy

1 answers

Riya Vijay 8 years, 3 months ago

Dr. Side include purchase, rent paid in advance, opening stock, fixed asset. Cr. Side include bank overdraft, outstanding expenses, sales, purchase return, interest received, bank loan.

3Thank You

ANSWER

A company purchased a machinery 10000 on 1st April 2013 , depreciation 10% prepare account for last three years ended 31st march every year

Posted by Arsh Deep 8 years, 3 months ago

CBSE > Class 11 > Accountancy

1 answers

Riya Vijay 8 years, 3 months ago

From which method - SLM or WDV

1Thank You

ANSWER

in bills of exchange dishonour of bill

Posted by Kushal Bajaj 8 years, 3 months ago

CBSE > Class 11 > Accountancy

1 answers

Ritikesh Kumar 8 years, 3 months ago

In books of drawer: drawee a/c Dr to B/R a/c. And in books of drawee : B/R a/c Dr to drawer a/c

0Thank You

ANSWER

From the following transaction of ms garam and gaurav electrical, prepare the purchase book

Posted by Priyanka Sidhu 8 years, 3 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

Productive wages konse side at a he trading account or profit and loss account

Posted by Rohit Yalage 8 years, 3 months ago

CBSE > Class 11 > Accountancy

2 answers

Ritikesh Kumar 8 years, 3 months ago

Dr. Side of trading a/c because this expense is related to production of goods

0Thank You

Gaurav Bansal 8 years, 3 months ago

Dr. Side of trading a/c

1Thank You

ANSWER

Following is the trial balance of Mr.Gautam as act 31st March,2017

Posted by Kavita Dhiman 8 years, 3 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

On 1st July 2014 15 Sohan Lal and sons purchase the plant costing 60000 additional Plant was purchased on 1st January 2016 for rupees 40001 1st October 2016 for rupees 20000 on 1st April 2017 one third of the plant purchase on 1st July 2015 was found to have become obsolete and was sold for 60000 prepare the plant account for the first 3 years in the book of Sone lal and sons depreciation is charged at 10% per annum on straight line method account are closed on 31st March every year

Posted by Manish Gupta 8 years, 3 months ago

CBSE > Class 11 > Accountancy

1 answers

Manish Gupta 8 years, 3 months ago

Loss on sale of plant 10500; balance of plant A/c 77000

5Thank You

ANSWER

What is trial balance

Posted by Jimmy Nubu 8 years, 3 months ago

CBSE > Class 11 > Accountancy

1 answers

Manish Gupta 8 years, 3 months ago

Trial balance is a statement in which both credit and debit balance are shown.

1Thank You

ANSWER

The solution of financial statement with adjustment

Posted by Robh Tiw 8 years, 3 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

Give all the entries of the chapter bills of exchange.

Posted by Himanshu Goyal 8 years, 3 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

What is contingent liability?

Posted by Srishti Naveen 8 years, 3 months ago

CBSE > Class 11 > Accountancy

1 answers

Sakshi Arora 8 years, 3 months ago

Contingent liability refers to a situation in which there is a chance of paying the liability or not

0Thank You

ANSWER

What is capital expense

Posted by Khushboo Samtani 8 years, 3 months ago

CBSE > Class 11 > Accountancy

1 answers

Rajat Agrawal 8 years, 3 months ago

It is that type of expense which are incurred to acquire or improving , upgrading which will increase the earning capacity of business. Example: installation of new machinery.

3Thank You

ANSWER

Which account is not considered while preparing the trial balance?

Posted by Chandan Kumar 8 years, 3 months ago

CBSE > Class 11 > Accountancy