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Journalise the following transaction

Posted by Harmeet Kaur 4 years, 7 months ago

1 answers

Harmeet Kaur 4 years, 7 months ago

Sold goods to shruti rupees 80000 at 15% trade discount and 4%cash discount received 75%amount immediately through a cheque

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Attributes of accounting?

Posted by Shaurya Bansal 4 years, 7 months ago

CBSE > Class 11 > Accountancy

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Kavyansh Garg 4 years, 6 months ago

1. Maintaining systematic record 2. Preparation of financial statements. 3. Meeting legal requirements. 4. Assistance to management.

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Introduction to accounting

Posted by Sukhbinder Singh Khurpa 4 years, 7 months ago

CBSE > Class 11 > Accountancy

1 answers

Sia ? 4 years, 7 months ago

Accounting is the system of recording financial transactions with both numbers and text in the form of financial statements. It provides an essential tool for billing customers, keeping track of assets and liabilities (debts), determining profitability, and tracking the flow of cash.

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Radha and Raman are partners in a firm sharing profits and losses in the ratio of 5:2. Capital contributed by them is Rs. 50,000 and Rs. 20,000 respectively. Radha was given salary of Rs. 10,000 and Raman Rs. 7,000 per annum. Radha advanced loan of Rs. 20,000 to firm without any agreement to rate of interest in deed while in deed rate of interest on capital was mentioned as 6% p.a. Profits for the year are Rs. 29,400. Prepare Profit and Loss Appropriation Account for the year ending 31st March 2015. Solution: Profit and Loss Appropriation account For the year ending on 31.03.2015 Dr. Cr. Particulars Rs. Particulars Rs. To Interest on Capital: Radha 3,000 Raman 1,200 To Partner’s Salary Radha 10,000 Raman 7,000 To Profits transferred to capital A/cs of: Radha 5,000 Raman 2,000 4,200 17,000 7,000 By Profit and Loss A/c (Net Profits)29,400 Less: Interest On Radha’s loan 1,200 28,200 28,200 28,200 When appropriation are more than available profits In such case available profits are distributed in the ratio of appropriation.

Posted by Akshit Baisoya 4 years, 7 months ago

CBSE > Class 11 > Accountancy

1 answers

Mukesh Kumar Jain 4 years, 4 months ago

answer

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Is it compulsory to take political science in class 11th CBSE?

Posted by Komal Sankhla 4 years, 7 months ago

CBSE > Class 11 > Accountancy

2 answers

Khushi Tiwari 4 years, 7 months ago

yes ✌

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Jasmeet Kaur 4 years, 7 months ago

Yes

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Plzz tell me tha syllabus

Posted by Payal Chudhary 4 years, 8 months ago

CBSE > Class 11 > Accountancy

0 answers

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Anil tubes purchased a machinery for

Posted by Harsheni N 4 years, 8 months ago

CBSE > Class 11 > Accountancy

1 answers

?‍♂️?‍♂️ 4 years, 8 months ago

?? plz complete ur question first....only after that we can help u dude....

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X,y,z are partners ratio 2:2:1 their capital 3,00,000,2,00,000and1,00,000after account closed 10% int on capital not entry loss show the adjustment entry

Posted by Anjali Kumari 4 years, 8 months ago

CBSE > Class 11 > Accountancy

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Vouchers is prepared for writing of the bad debts

Posted by Aaniya Shaikh 4 years, 8 months ago

CBSE > Class 11 > Accountancy

1 answers

Sia ? 4 years, 7 months ago

These vouchers are prepared to record the non-cash transactions of the business. Under the direct write off method, when a small business determines an invoice is uncollectible they can debit the Bad Debts Expense account and credit Accounts Receivable immediately.

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Discuss the advantages of keeping cash book

Posted by Aaniya Shaikh 4 years, 8 months ago

CBSE > Class 11 > Accountancy

1 answers

Sia ? 4 years, 8 months ago

Advantages of Cash Book
Cash book offers the following advantages:

It offers easy verification of cash by matching the balance in the cash book with actual cash in hand and is therefore helpful in identifying mistakes in the entry.
It helps in creating a regular record of transactions date wise for the convenience of accounting personnel.
As it is maintained date wise, any cash payments or the transaction can be correctly traced back in the cash book.
It is helpful in detecting any cash frauds in the organisation.
It helps in saving time and labour by reducing the workload

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the following balances are taken from the books of mr. vinod kumar you are required to prepare trading accounts profit and loss accounts and balance sheet for the year ending on 31st march 2014 my cbse guide

Posted by Ayush Singh 4 years, 8 months ago

CBSE > Class 11 > Accountancy

0 answers

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Prepare an accounting equation from the following information of Akshita

Posted by Kajal Sahu 4 years, 8 months ago

CBSE > Class 11 > Accountancy

0 answers

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jatin and lalita are partner sharing profit and loss in the ratio of 3:2 thier balance sheet as at 31st march 2020

Posted by Rajat Verma 3 years ago

CBSE > Class 11 > Accountancy

1 answers

Sia ? 4 years, 8 months ago

Please ask question with complete information.

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What do you mean by financial statement

Posted by Taufik Khan 4 years, 8 months ago

CBSE > Class 11 > Accountancy

1 answers

Taufik Khan 4 years, 8 months ago

It is an avoidance which provides position of companies

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what has he ncert solution new edition 2020

Posted by Hardeep Kumar 4 years, 8 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

discuss any three most common source documents?

Posted by Khushbu Mali 4 years, 8 months ago

CBSE > Class 11 > Accountancy

1 answers

Balwant Kumar 4 years, 8 months ago

The most common source documents are:

Voucher
Cheque
Pay-in-slip

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Abs Ltd. Is a firm dealing in a stationery items. One of the assets in the business destroyed by fire. The Accountant of the firm charged this loss against profit for that accounting Year but only to the extent not recoverable from insurance company. Name and explain the principle applied by Accountant to abs Ltd.

Posted by Ramanjeet Kaur 4 years, 8 months ago

CBSE > Class 11 > Accountancy

0 answers

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What is different libility and asset

Posted by Mukesh Rathod 4 years, 8 months ago

CBSE > Class 11 > Accountancy

1 answers

Sia ? 4 years, 8 months ago

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Yarr 1 ko accountacy ka exam h kis kis ko prepare ho gya

Posted by Tanya Tiwari 4 years, 8 months ago

CBSE > Class 11 > Accountancy

3 answers

Lucky Singh 4 years, 8 months ago

Mera bhi thoda hua h

2Thank You

Aryan Rajput 4 years, 8 months ago

Meri Pura hogaya h ??????

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Kiran Kashyap 4 years, 8 months ago

Meri thodi bahot

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What is differ between accounting and accountancy

Posted by Shivani Kumari 4 years, 8 months ago

CBSE > Class 11 > Accountancy

2 answers

Manpreet Kaur 4 years, 8 months ago

Accountancy is a wider term.Accounting is a part of accountancy

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Mukesh Rathod 4 years, 8 months ago

Accoting is recording in the business transition and accountancy is subject

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Neha and Preeti to partners who were sharing profit and losses equally had the following balance sheet as at 31st March 2020 they have decided to admit Chandra into partnership has an equal partner on that day for a purpose of admission the following conditions have been a great asset or liability shall be revalued as for low investment 17500 reserve for doubtful that increase to 1750 stock to be valued at 8000 machine to be depreciated by 5% there is an old furniture works 1200 to be bought into book I was taken over by the partner in their old profit sharing ratio Goodwill of the firm is valued at 22500 and Chandra paid for his share Chandra and agreed to bring in 15000 as his capital in addition to his good will prepare revaluation account and capital account of

Posted by Priya Chauhan 4 years, 9 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

Birla cotton Mills purchased a machinery on 1stAugust ,2017 for `90,000. On 1st October 2018 it purchased another machine for `40,000. On 30th June 2019, it sold off the first machine purchased in 2017 for `58,000 and on the same date purchased a new machinery for `1,00,000. Depreciation is provided at 20 % p.a. on the original cost each year. Accounts are closed each year on 31stMarch . Show the Machinery Account for three years

Posted by Niranjan K.M 4 years, 8 months ago

CBSE > Class 11 > Accountancy

1 answers

Sia ? 4 years, 8 months ago

MACHINERY ACCOUNT

Dr.							Cr.
Date	Particulars		Amount ₹	Date	Particulars		Amount ₹
2017 Aug. 1	To Bank A/c		90,000	2018 Mar. 31	By Depreciation A/c (90000 {tex}\times{/tex} 20% {tex}\times{/tex} 8/12)		12,000
				Mar. 31	By Balance c/d		78,000
			90,000				90,000
2018 April 1	To Bank b/d		78,000	2019 Mar. 31	By Depreciation A/c
Oct. 1	To Bank A/c		40,000		(i) ₹90000 {tex}\times{/tex} 20%	18,000
					(ii) ₹(40000 {tex}\times{/tex} 20% {tex}\times{/tex} 6/12)	4,000	22,000
				Mar. 31	By Balance c/d
					(i) ₹	60,000
					(ii) ₹	36,000	96,000
			1,18,000				1,18,000
2019 April 1	To Balance b/d			2019 June 30	By Bank A/c		58,000
	(i)	60,000		June 30	By Depreciation A/c (90000 {tex}\times{/tex} 20% {tex}\times{/tex} 3 /12)		4,500
	(ii)	36,000	96,000
June 30	To Bank A/c		1,00,000	2020 Mar. 31	By Depreciation A/c
June 30	To Statement of Profit and Loss (Profit on machine ₹58,000 + 4,500 - 60,000		2,500		(i) ₹	8,000
					(ii) ₹	15,000	23,000
				Mar. 31	By Balance c/d		1,13,000
			1,98,500				1,98,500
2018 April 1	To Balance b/d		1,13,000

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Birla cotton mill purchased a machinery on 1 st August 2017 for 90,00

Posted by George C Alex 4 years, 9 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

Paid charity 101, stationary 450 , postage 249 .

Posted by Lalit Kumar 4 years, 9 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

Alpha Chemical industries furnished the following information to prepare the final account for the year ended 31.3.2020. Deb it Balances Capital W ages O pening P urchase R eturn s Dock and Cleaning charged L ighting M iscellaneous R ent D rawings D ebtors C I ash nvestment P atent L and 6000 stock and sales income and creditors 10,000 40,000 200 4,000 500 2000 6,000 3,000 6,000 4,000 Credit Balances 40,000 600 6,000 2,000 7,000 and machinery D onations S ales and charity tax collected F urniture Additional Information 1) Land and Machinery is depreciated at 5% 2) Interest on investment is at 6% 3) Unexpired rent –Rs. 100 43,000 600 11,300 4) Interest on drawings at 7% and interest on capital at 5% 5) Charge 5% deprecation on furniture

Posted by Mr Vinu Sri 4 years, 9 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

The trial balance of Shri Manoj Kumar & Sons in respect of the year ending 31st March 2019 in given below. Prepare with its help Trading and Profit & Loss Account for the year 2018-19 and Balance Sheet on 31st March 2019- Trial Balance (as or 31st March, 2019) Rs. Rs. Stock on 1st April, 2018 43450 Purchases 166580 Purchases Returns 6344 Factory Fuel and Power 1084 Factory Electricity Exp. 784 Factory Wages 19830 Carriage on Purchases 1794 Manufacturing exp 5360 Office Salaries 7490 Travelling Expens es 1850 , sales 252354 sales return 14844 Carriage on Sales 1920 Rent and Rates 3530 Office Expense 5556 Discount 844 Insurance 1140 Capital Amount 186460 Plant and Machinery 110000 Fixtures and Fittings 3440 Cash at Bank 4490 Cash in Hand 136 Debtors 96600 Drawings 13640 Creditors 45380 Bills Payables 12844 Closing stock on 31st March, 2019 was valued at Rs. 33, 160. Depreciation is to be written-off at the rate of 5% on Plant and Machinery and 10% on Fixtures and Fittings. Provisions is to be made for doubtful debts at the rate of 2½% on Sundry Debtors, Rent and Taxes amounting to Rs. 150 were outstanding and Rs. 140 were paid as insurance premiums is advance. Salaries and Wages amounting to Rs. 1,600 and Rs. 700 respectively are yet to be paid. Please solve this..

Posted by Kunwar Kesharwani 2 years, 7 months ago

CBSE > Class 11 > Accountancy

3 answers

Sajiya Khan 2 years, 3 months ago

pls answers

8Thank You

Ayush Raikhere 3 years, 1 month ago

23Thank You

Apeksha Agrawal 1 year, 3 months ago

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When balance as per cash book (debit balance) as on 31st March is the starting point, what will be the effect while preparing bank reconciliation statement as on 31.03 when out of the cheques amounting to Rs. 5,000 deposited, cheques aggregating Rs. 1,500 were credited in March and cheques aggregating Rs. 2,000 credited in April and the rest have not been collected? (a) Subtract Rs. 2,000 (b) Add Rs.2,000 (c) Subtract Rs. 3,500 (d) Add Rs.3,500

Posted by Achal Jain 4 years, 9 months ago

CBSE > Class 11 > Accountancy

1 answers

Ankit Agarwal 4 years, 9 months ago

Hi Achal, Answer will be Option C i.e. Substract Rs. 3500 Explanation: Balance as per Cash Book on 31st March is the starting point and we need to reach the balance as per passbook on 31st march 2021. Simple rule is to think of whether the target book is on the higher side or lower side due to this difference and then proceed with the adjustement. When a cheque is deposited into the bank, business will immediately increase the bank section of the cash book however for the amount to actually get added in the bank balance will actually take some time. It means bank balance as per cash book and bank balance as per pass book can vary. In the given case, 5000 was deposited - means bank balance as per cash book was increased immediately in the month of March. However, actual balance increased as per passbook is only Rs.1500 which was credited in March. Rs. 2000 credited in April but this we will not come to know in 31st march Bank Statement, this will appear in April Bank statement. Hence, this will be a reason of difference as well on 31st March. Balance 1500 yet to be collected by bank. These 2 things signifies that on 31st March Bank balance as per passbook was lower by Rs.3500 and bank balance as per cash book was higher by Rs. 3500. As mentioned in previous, for adjustment - we need to think whether the target book is on higher side or lower side. Here, the target book i.e. Passbook is on lower side. Hence, we need to reduce the cash book amount by Rs.3500 to arrive at balance as per passbook on 31st March. Hope this clarifies. Regards CA Ankit Agarwal

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Capabilities.of a computer system

Posted by Anil Badavath 4 years, 9 months ago

CBSE > Class 11 > Accountancy

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ANSWER

External users of accounting information are

Posted by Subhash Sharma 4 years, 9 months ago

CBSE > Class 11 > Accountancy

2 answers

Ankita Dewangan 4 years, 9 months ago

External user of accounting information means those people to whom accounting information is to be given to help the take certain decisions which are not the internal part of business. These users can be : investors, suppliers, creditors, customers, debentureholder, government, bank (while taking loans ) etc

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Ankit Agarwal 4 years, 9 months ago

External Users of Accounting Information:: Customers, Creditors/Suppliers, Taxing Authorities, Investors, Potential Investors. Regards CA Ankit Agarwal

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