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

Yes, Non-monetry transaction are not recorded in the books of accounts. Only those transaction are recorded in books of accounts that are miserable in monetary terms..

1Thank You

ANSWER

1. Gokul started business with Cash Rs. 2.00.000. 2. Purchased goods for Cash Rs. 60,000. 3. Sold goods for cash Rs. 75,000. 4. Purchased goods from Raghav on Credit for Rs. 80,000. 5. Sold goods to Maulik on Credit for Rs. 50,000. 6. Paid Cash to Raghav Rs. 20,000. 7. Received Cash from Maulik Rs. 10,000. 8. Paid salary Rs. 20.000

Posted by Atiksh Bhatia 4 years, 6 months ago

CBSE > Class 11 > Accountancy

2 answers

Atiksh Bhatia 4 years ago

I want journal entry

0Thank You

Kaushal Prasad 4 years, 6 months ago

I can give answer but what do want journal entry or ledger??

0Thank You

ANSWER

Best online platform for account

Posted by Payal Chudhary 4 years, 6 months ago

CBSE > Class 11 > Accountancy

1 answers

Utkarsh Gutgutia 4 years, 6 months ago

1Thank You

ANSWER

What are the attributes (features) of accounting?

Posted by Shubam Preet Singh Dhillon 4 years, 6 months ago

CBSE > Class 11 > Accountancy

1 answers

Utkarsh Gutgutia 4 years, 6 months ago

1) provide complete and systematic record 2) helpful in management of business 3) evidence in legal matter 4) helpful in rising loans 5) enable comparative study

0Thank You

ANSWER

How will you deal with the following items in accounting equation

Posted by 11C Kavin Kumar R 4 years, 6 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

Explain different kinds of Theory base of accounting

Posted by Sahil Khushlani 4 years, 6 months ago

CBSE > Class 11 > Accountancy

1 answers

Parshwa Jain 4 years, 6 months ago

Business entity concept: According to this “the business is treated as a separate and distinct entity from the owner, who invests money or money’s worth”. If there is any branch or unit, is also treated as a distinct entity. (2) Going concern concept: According to this the assumption is made that “Every business is carried on with a view to contiune it for an indefinite period of time in future and not to liquidate the affairs. (3) Money measurement concept: According to this “the accounting entries made in the books are only of those transactions which can be measured and recorded in terms of money”. (4) Cost concept: According to this “All the fixed assets which are acquired by a concern are recorded in the books of accounts at cost price”. (5) Dual-aspect concept: According to this “Every business transactions has a two-fold- aspects (receiving and giving benifit) of same value”. (6) Accounting period concept: As per the going concern concept every business is intended to be continued indefinitely for a long period in future. In that case the trading result cant be ascertained in the life time. For this “The convinient period of time is selected by dividing the estimated period of life of the business for ascertaining the net result of business during a given period as well as financial position of the business as on that date”. (7) Realisation concept: According to the “revenue is said to be recognised from sale of goods, or services only when revenue is actually realised. (8) Matching Concept: Earning prof it is the object of ever}’ business enterprise. It has been the duty of an accountant to calculate exact accurate prof it. The result of there efforts was the introduction of the principle of matching cost and Revenue. According to this principle income can be as curtained by matching revenue of the business with its costs. (9) Accrual Concept: Accrual means recognition of revenue and costs as they are earned or incurred and not as money is received or paid. The accrual concept relates to measurement of income. Identifying assets is liabilities Example: Recording salary payable to staff commission receivable & etc.......?????✌✌??

0Thank You

ANSWER

Business started with cash ₹600,000. Furniture purchased ₹100,000 in cash . Goods purchased from vinod ₹10,000. Goods purchased ₹100,000 in cash . Goods purchased on credit ₹20,000. Goods purchased from ramesh ₹30,000.

Posted by Shipra Mishra 4 years, 6 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

Business started with cash ₹800,000 Machinery purchased ₹200,000in cash. Loan taken ₹100,000in cash. Goods purchased ₹150,000 in cash . Goods purchased on credit ₹50,000. Goods purchased from ram ₹40,000.

Posted by Shipra Mishra 4 years, 6 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

Business started with cash ₹600,000 Car purchased ₹100,000 in cash Goods purchased from vinod ₹10,000. Goods purchased ₹100,000 in cash Goods sold for ₹20,000 in cash. Goods sold costing ₹10,000 for ₹12000 in cash. Cash paid to creditors ₹4000 in cash Accounting equation

Posted by Shipra Mishra 4 years, 6 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

What is the income of mr. prem .

Posted by Shaurya Bansal 4 years, 6 months ago

CBSE > Class 11 > Accountancy

1 answers

Prafull Kumar 4 years, 6 months ago

Who is mr. Prem

1Thank You

ANSWER

Why asb was formed

Posted by Pratyush Mallick 4 years, 6 months ago

CBSE > Class 11 > Accountancy

1 answers

Sia ? 4 years, 6 months ago

It exists to improve existing—and enable new—audit and attestation services, establishing the rules that accountants—professionals responsible for keeping or inspecting financial accounts—are supposed to abide by.

1Thank You

ANSWER

What-is-the-difference-between-goods-and-stock

Posted by Sahil Khushlani 4 years, 6 months ago

CBSE > Class 11 > Accountancy

1 answers

Sia ? 4 years, 6 months ago

goods means the objects or items on which the trader trades whereas stock is the bulk of goods kept together usually used in the context- the stock is stored in the warehouse. the goods means item. they have purchase or sale in money is known as goods. stock is that in which goods are kept in emergency.

0Thank You

ANSWER

Give two example of tengible assets

Posted by Abhi Arora 4 years, 6 months ago

CBSE > Class 11 > Accountancy

2 answers

Ashnoor Kamboj 4 years, 5 months ago

Its tangible not tengible Furniture,land,machinery,computer etc,.

0Thank You

Priya Yadav 4 years, 6 months ago

Building, machines

0Thank You

ANSWER

started business with cash 5,00,000, stock 2,50,000, bank 30.000 on january 1, in this which source document will be generated

Posted by Harshit Pushkarna 4 years, 6 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

purchased goods from M/s Eufora vide bill No.912 = which source document will be generated

Posted by Harshit Pushkarna 4 years, 6 months ago

CBSE > Class 11 > Accountancy

1 answers

Sia ? 4 years, 6 months ago

Please ask question with complete information.

0Thank You

ANSWER

Comprehensive project of any sole proprietorship business. This may state with journal entries and their ledgering, preparation of Trial balance. Trading and profit and Loss Account and Balance Sheet. Expenses, incomes and profit(loss), assets and liabilities are to be depicted using pie chart/bar diagram

Posted by Aryan Yadav 1 year, 11 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

Differentiate between reliability and relevance

Posted by Anushka Jaiswal 4 years, 6 months ago

CBSE > Class 11 > Accountancy

1 answers

Sia ? 4 years, 6 months ago

The accounting process involves recording, interpreting, classifying, analyzing, reporting and summarizing financial data. Bookkeeping is the process of recording financial transactions. Recording financial transactions is the first part of and the foundation of the accounting process.

1Thank You

ANSWER

Main purpose of accountancy

Posted by Gurmeen Kaur 4 years, 6 months ago

CBSE > Class 11 > Accountancy

1 answers

Kavyansh Garg 4 years, 6 months ago

In order to maintain a systematic record of financial transactions..

1Thank You

ANSWER

2) PREPARE ACCOUNTING EQUATION FROM FOLLOWING a) STARTED BUSINESS WITH CASH RS.15,00,000 b) PURCHASE GOODS FOR CASH RS.3,00,000 c) PURCHASE GOODS FROM RAMA ON CREDIT RS.1,50,000 d) SOLD GOOD FOR CASH RS.3,00,000 ( COST RS.2,50,000) e) PAID TO RAMA RS.1,35,000 IN FULL SETTLEMENT

Posted by Pankaj Bhagtani 4 years, 6 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

?Heya??‍♀️ Please Answer this question ?⬇️ What do you mean by Event (?️Class 11th ➡️Chapter.2 BASIC ACCOUNTING TERMS) ..

Posted by Miaau ? 4 years, 6 months ago

CBSE > Class 11 > Accountancy

1 answers

Sia ? 4 years, 6 months ago

An accounting event is a transaction that is recognized in the financial statements of an accounting entity. Examples of accounting events include such things as recording the depreciation of an asset, the payment of dividends to investors, the purchase of materials from a supplier, and the sale of goods to a customer.

0Thank You

ANSWER

Prepare Accounting Equation from the following transactions: 1. Started Business with cash Rs. 5,00,000. 2. Purchase a typewriter for cash for office use Rs. 8,009. 3. Cash withdrew for private use Rs. 5,000 in cash. 4. Purchased goods for cash Rs. 40,000. 5. Sold goods for cash costing Rs. 4,500 at Rs. 5,000. 6. Sold goods on credit costing Rs. 12,000 for Rs. 15,000. 7. Received Commission for Rs. 500. 8. Paid salary Rs. 2,000.

Posted by Atiksh Bhatia 4 years, 7 months ago

CBSE > Class 11 > Accountancy