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Mr. Bansal Planned to sart an Auto agency to purchase and sell scooters and motorcycles. According to his calculations there was a capital requirement of ₹ 7500000. His savings was not sufficient for this business so he decided to take a loan from the bank for ₹ 6000000 on the security of his own house. The loan was sanctioned on 15th march 2010. After sanctioning of loan he purchased the required fixed assets for this business which are as follows: 1. Office premises ₹ 3750000 2. Office equipment ₹ 360000 3. Furniture and fittings ₹ 390000 Mr. Bansal has done all the transactions through bank. All the sales were made on cash basis and same cash is deposited in the bank. On the other hand all the expenses were also made by cheque. Purchases were also through cheque. However the purchase made of March 2011 was done on credit basis. Following transaction were made during the year. 1 2 3 4 5 6 7 8 9 10 Cash purchases Credit purchases Sales on cash Water and electricity expenses Mobile courier expenses Salaries Sales promotion expenses Trade Expenses Miscellaneous expenses Printing and Stationery 3720000 300000 4770000 39000 17700 195000 18000 9000 52500 6000 Some of the expenses for the month of March 2011 were not paid yet:- Water and electricity Salaries Mobile Expenses 2400 20100 900 1. Journalise the above transactions. 2. Post them in the ledgers. 3. Prepare the trial balance 4. Prepare a Bar diagram for expenses. 5. Use the A4 Sheet only

    • Posted by Komal Kaur 3 years, 2 months ago

    CBSE > Class 11 > Accountancy
    • 1 answers

    Parth Sahu Ji 3 years, 2 months ago

    ok

    1Thank You

    ANSWER
    Parul and Aruna, school time friends, met at the school reunion. Parul had become a fashion designer and had worked for a few years with a leading fashion designer. Aruna, after Accountancy project 5.... completing her MBA in Marketing, had worked with a leading retail store. At the meeting they had a brief discussion about setting up their own garment stores for teens and agreed to meet later and discuss the business prospects. They met again to discuss the possibility of starting the business and after discussions decided to set up ready-made garments stores exclusively for teenagers with a high disposable family incomes and who follow latest fashion trends. They decided to open their first store on 15th April, 2020. They decided to produce and sell clothes which were not expensive as it will give the customer value for money and, in the process, their turnover will increase due to which the profit will also be high. They decided to open their flagship store in Select City Walk, Saket, New Delhi. The name decided was C4T, a short form of Clothes 4 Teens. They discussed and finalised the business plan, capital requirement and sources, etc. Parul was to design the clothes and source the material besides identifying tailoring source, which was to be outsourced. Aruna, besides looking after marketing, was to identify and rent a suitable place for the store, renovate it and take care of the legal aspects. It was agreed that each partner will initially contribute 10 lakhs towards capital. Aruna employed Bikram, an experienced accountant, and requested him to draw the Partnership Deed and get the firm registered under the applicable laws. She gave him the terms of partnership agreed between her and Parul. Aruna located a shop measuring 800 square feet, finalised the rent and entered into an agreement. It was agreed that rent for the shop will be ? 15,000 per month starting from 1st April, 2020 and in between period will be used for furnishing the shop. A security deposit equal to six months' rent was to be given. A bank account was opened with the State Bank of India in the name of C4T in which they deposited cheques of 10 lakhs each. Cheques for 90,000 as security deposits for rent, 7,000 as Security Deposit for Electricity were issued. A contract was signed for *3,50,000 for renovation of the outlet which was paid. A website was got developed from a local developer to attract mail orders. Website designing and hosting expense came to and printer was purchased for 50,000. 1,00,000. Rent for website space was 20,000 payable from 1st April, 2021. A computer The firm took a term loan of 10 lakhs from the bank repayable in 20 equal quarterly instalments. First instalment was to be paid on 30th June, 2020. The bank granted loan interest being @ 12% per annum. Loan repayment schedule was as follows: Date June 30, 2020 Principal (2) 50,000 September 30, 2020 December 31, 2020 March 31, 2021 50,000 50,000 50,000 Interest (2) 30,000 Instalment (2) 80,000 28.500 27,000 25.500 78,500 77,000 75,500

    • Posted by Juhi Wallecha 1 year, 10 months ago

    CBSE > Class 11 > Accountancy
    • 0 answers
    ANSWER

    • Posted by Reeshi Patel 3 years, 2 months ago

    CBSE > Class 11 > Accountancy
    • 1 answers

    Divyanshi Sharma 3 years, 1 month ago

    Recording of all transactions in a particular head is known as account

    0Thank You

    ANSWER

    • Posted by Mohit Saroj 3 years, 2 months ago

    CBSE > Class 11 > Accountancy
    • 0 answers
    ANSWER

    • Posted by Donaliza Kharkongor 3 years, 2 months ago

    CBSE > Class 11 > Accountancy
    • 2 answers

    Jasleen Maini 2 years, 9 months ago

    Assests = capital + liability

    0Thank You

    Aditya Kumar Jha 3 years, 2 months ago

    Where is quetion??

    0Thank You

    ANSWER

    • Posted by Muhammad Ali 3 years, 2 months ago

    CBSE > Class 11 > Accountancy
    • 2 answers

    Aditya Kumar Jha 3 years, 2 months ago

    No It can be both

    0Thank You

    Prabhdeep Singh 3 years, 2 months ago

    No

    0Thank You

    ANSWER

    • Posted by P Keerthana P Keerthana 3 years, 2 months ago

    CBSE > Class 11 > Accountancy
    • 0 answers
    ANSWER

    • Posted by Anamika Bag 3 years, 2 months ago

    CBSE > Class 11 > Accountancy
    • 0 answers
    ANSWER

    • Posted by Anamika Bag 3 years, 2 months ago

    CBSE > Class 11 > Accountancy
    • 0 answers
    ANSWER

    • Posted by Rinku Rinku 3 years, 2 months ago

    CBSE > Class 11 > Accountancy
    • 0 answers
    ANSWER

    • Posted by Tharini Balan 3 years, 2 months ago

    CBSE > Class 11 > Accountancy
    • 2 answers

    Aditya Kumar Jha 3 years, 2 months ago

    Charted Accountant

    0Thank You

    Ayush Kumar 3 years, 2 months ago

    Chartered accountant

    1Thank You

    ANSWER

    • Posted by Sonam Drema 3 years, 2 months ago

    CBSE > Class 11 > Accountancy
    • 0 answers
    ANSWER

    • Posted by Jagroshan Singh 3 years, 2 months ago

    CBSE > Class 11 > Accountancy
    • 0 answers
    ANSWER

    • Posted by Jagroshan Singh 3 years, 2 months ago

    CBSE > Class 11 > Accountancy
    • 3 answers

    Jagroshan Singh 3 years, 2 months ago

    Yes

    0Thank You

    Aditya Kumar Jha 3 years, 2 months ago

    Of what

    0Thank You

    Jagroshan Singh 3 years, 2 months ago

    Journal chapter all questions

    3Thank You

    ANSWER

    • Posted by Santoshi Verma 3 years, 2 months ago

    CBSE > Class 11 > Accountancy
    • 0 answers
    ANSWER

    • Posted by Siya Rawat 3 years, 2 months ago

    CBSE > Class 11 > Accountancy
    • 0 answers
    ANSWER

    • Posted by Tofik Makrani 3 years, 2 months ago

    CBSE > Class 11 > Accountancy
    • 0 answers
    ANSWER

    • Posted by Lakshay Goel 3 years, 2 months ago

    CBSE > Class 11 > Accountancy
    • 2 answers

    Tharini Balan 3 years, 2 months ago

    Government liability insurance is not regulators

    0Thank You

    Akash Kumar 3 years, 2 months ago

    Government and other regulators

    0Thank You

    ANSWER

    • Posted by Ritika Kumari 3 years, 2 months ago

    CBSE > Class 11 > Accountancy
    • 1 answers

    Anshu Sahu 3 years, 2 months ago

    Huggb gyhbnvbdbs dbshs sjsbd dhsb dhdhdhdbs sbbd d d d f f fbdjsjs shzhsbsowoejdb ddijendkmxbxbcgejs dudjenakisnx x cbdisn d

    0Thank You

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    • Posted by Mr. X 3 years, 2 months ago

    CBSE > Class 11 > Accountancy
    • 0 answers
    ANSWER
    Sachin and Dravid are partners in a firm sharing profits and losses in the ratio of 3:2. Their balance sheet is given below. Balance Sheet as on 31.03.2017 Liabilities Rs Assets Rs Creditors 18,000 Cash in Hand 2,000 Bills Payable 12,000 Cash at Bank 18,000 Reserve Fund 3,000 Sundry debtors 25,000 Capitals: Less: PDD 2,000 23,000 Sachin 50,000 Stock 10,000 Dravid 50,000 100,000 Furniture 25,000 Buildings 50,000 P & L Account 5,000 133,000 133,000 On 01.04.2017 they admitted Ashwin as new partner into partnership on the following terms. a. He brings in Rs. 40,000 as capital and Rs. 18,000 toward Goodwill for 1/4th share in future profits. b. Depreciate Furniture by 10% and Buildings are revalued at Rs. 45,000. c. PDD increased to Rs. 3,500. d. Prepared insurance Rs. 2,000. Prepare: i). Revaluation Account. ii). Partners Capital Account. iii). New Balance sheet as on 01.04.2017.

    • Posted by Rekha Mohan 3 years, 2 months ago

    CBSE > Class 11 > Accountancy
    • 0 answers
    ANSWER
    Daksh had an ambition to start a business.after completing his studies, he surveyed the market for business opportunity. He did a course in the production and marketing of handmade sheets, through which he would be recycling some of the waste material.on 1st April 2013 , he started his business with a capital of rs 500000 and borrowed rs 500000 from his friend at an interest of 8 % per annum. He purchased permises for rs 400000 and installed machinery valued at rs 100000. Loose tools of rs 80000 , furniture and fixtures of rs 150000 and a computer for rs 20000 were also purchased. All the cash was kept in a bank and payments were made through the bank. The following is a summary of transactions : Dye and chemicals rs 10000 total purchases rs 395000cash 205000credit rs 600000 total sales rs750000cash+250000 credit rs 1000000 wages rs 240000 electricity exp rs 18000 water exp rs 12000 cartage on purchases rs 24000 cartage on sales rs 30000 bpermises were insured on 1st OctoberOctober 2013, on a yearly premium of rs 24000.int on loan was paid by cheque and a part of loan of rs 100000 was paid at the year end. On 31st March 2014; 1 closing stock valued at rs 248000 2 wages of rs 20000 were still outstanding. 3 depriciation was to be provided @ 10 % per annum on machinery, loose tools and computer and @5 % per annum on premises and furniture and fixtures 4 a debtor of rs 7200 become insolvent and only 25 paisa in a rupees is expected to be realised form him you are required to : 1 journalise these transactions, post them into ledger accounts and perpare a trial balance 2 prepare financial statement for daksh.also, comment on the profitability and solvancy of the firm

    • Posted by Rajender Kumar 3 years, 2 months ago

    CBSE > Class 11 > Accountancy
    • 0 answers
    ANSWER

    • Posted by Kanishk Khandelwal 3 years, 2 months ago

    CBSE > Class 11 > Accountancy
    • 0 answers
    ANSWER

    • Posted by Mahmood Sora 3 years, 2 months ago

    CBSE > Class 11 > Accountancy
    • 0 answers
    ANSWER

    • Posted by Chahat Pahadhiya 3 years, 2 months ago

    CBSE > Class 11 > Accountancy
    • 0 answers
    ANSWER

    • Posted by Tanvi Goyal 3 years, 2 months ago

    CBSE > Class 11 > Accountancy
    • 0 answers
    ANSWER

    • Posted by Depesh Dhawan 3 years, 2 months ago

    CBSE > Class 11 > Accountancy
    • 0 answers
    ANSWER

    • Posted by Robin Singh 3 years, 2 months ago

    CBSE > Class 11 > Accountancy
    • 0 answers
    ANSWER

    • Posted by Ranjeet Kumar Vishwakarma 3 years, 2 months ago

    CBSE > Class 11 > Accountancy
    • 0 answers
    ANSWER

    • Posted by Rajneesh Payal 3 years, 2 months ago

    CBSE > Class 11 > Accountancy
    • 2 answers

    Chotiya 🤗🤗🤗 3 years, 2 months ago

    Assets = liabilities +capital

    1Thank You

    Manmohan Singh 3 years, 2 months ago

    Basic concept of capital, liability and assets

    2Thank You

    ANSWER

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