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

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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ANSWER

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

Posted by George C Alex 3 years, 8 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

Paid charity 101, stationary 450 , postage 249 .

Posted by Lalit Kumar 3 years, 8 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 3 years, 8 months ago

CBSE > Class 11 > Accountancy

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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 1 year, 6 months ago

CBSE > Class 11 > Accountancy

3 answers

Sajiya Khan 1 year, 2 months ago

pls answers

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Ayush Raikhere 2 years ago

23Thank You

Apeksha Agrawal 2 months, 4 weeks ago

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48Thank You

ANSWER

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 3 years, 8 months ago

CBSE > Class 11 > Accountancy

1 answers

Ankit Agarwal 3 years, 8 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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ANSWER

Capabilities.of a computer system

Posted by Anil Badavath 3 years, 8 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

External users of accounting information are

Posted by Subhash Sharma 3 years, 8 months ago

CBSE > Class 11 > Accountancy

2 answers

Ankita Dewangan 3 years, 8 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 3 years, 8 months ago

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

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ANSWER

Posted by Mahip Panday 3 years, 8 months ago

CBSE > Class 11 > Accountancy

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ANSWER

Illustration 3 Mathew and Mahesh entered into a partnership as on 1st Jan 1982. The agreement provided, among other things the following: 1) Mathew and Mahesh to be contribute rupees 30,000 and 20,000 respectively, by capital. 2) Profit and Losses are to be shared as to Mathew 2/3 and Mahesh 1/3. 3) Mahesh is to be paid an annual salary of rupees 1,500. 4) Partners are to be paid interest on capitals @ 6% per annum. The Frim’s Profit and Loss A/C for the year ending 31st Dec, 1982 showed a net profit of rupees 6,000 after charging partner’s salary and interest on capital. During the year 1982 Mathew and Mahesh withdrew rupees 3,000 and rupees 2,000 respectively.

Posted by Rutu Patel 3 years, 8 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

Journal entry of ram start business with capital 2000

Posted by Meghashree Choudhari 3 years, 8 months ago

CBSE > Class 11 > Accountancy

4 answers

Ankita Dewangan 3 years, 8 months ago

Cash A/D Dr. 2,000 To capital A/C 2,000 (Being the capital introduced in business in cash )

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Udit Rathore 3 years, 8 months ago

Cash A/c......Dr. To Capital A/c........Cr. (Being capital introduced in cash)

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Sakshi Aggarwal 3 years, 8 months ago

Capital A/c ......Dr. To Cash A/c .....Cr. (Being the business started by ram )

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Diksha Gupta 3 years, 8 months ago

Capital a/c Dr To ram (Being started business by ram)

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ANSWER

gross profit of a film rupees 120000 and its 25 percent on cost of goods sold find out cost of goods sold and sales

Posted by Ak Kumar 3 years, 8 months ago

CBSE > Class 11 > Accountancy

1 answers

Ankit Agarwal 3 years, 8 months ago

Gross Profit = Sales - Cost of Goods Sold As per question, 25% of COGS = 120000 which means COGS = 120000/25% = 480000. Now we have got 2 figures, COGS = 480000 and GP = 120000. Sales = COGS + GP = 480000+120000 = 600000 Hope it helps.

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ANSWER

The following balances are appearing in the books of Mr. X on 1.4.2014. Plant Rs.10,00,000 & provision for depreciation Rs. 1,92,000. Depreciation charged @ 20% by written down value method. A part of plant purchased on 1.4.2013 for Rs. 2,00,000 sold on 1.10.2014 for Rs. 1,20,000. Calculate the amount of depreciation to be transferred from provision for depreciation to asset (plant) a/c. Rs. 80,600 Rs. 42,400 Rs. 56,000 Rs. 40,000

Posted by Anjali Garg 3 years, 8 months ago

CBSE > Class 11 > Accountancy

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ANSWER

On Jul 2020. A sold in B gonds for 43,000. i paid 3,000 hey there and accepted 2 bills of 15,000 and 25,000 for 2 months and 3 months respectively Aher 10 days A endorsed the first bill to C in full satisfaction for a debt of 15,100 On 16 August 2020, A Discounted the second bill with his bank at 6% per anaum. Both the bills were dishonoured. Noting charges being 40 and e 60 respectively Pass journal entries in the books of A, B and C.

Posted by Maneek Singh 3 years, 8 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

lance a firm did not match and difference was placed in Suspense Account wing errors were subsequently identified: Sales Book was overcasted by ? 200. de sold to Manohar for 550 was posted as 5,500. Purchases Book was overcasted by 800. Purchases Return Book was carried forward as ? 1,220 instead of 1,120.

Posted by Maneek Singh 3 years, 8 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

on 1st April 2018 following balance appeared in the books of MS Krishna traders furniture account 50000 provision for depreciation account 20000 on 1st October 2018 of part of furniture purchased for rupees 20000 on 1st April 2014 war sold for rupees 5000 on the same did you furniture costing rupees 25000 was purchased the depreciation was provided 10% as original cost of asset prepare furniture account provision for depreciation account for the year ended 31st March

Posted by Meenakshi Singh 3 years, 8 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

In which case purchase will be credited?

Posted by Piyush Saha 3 years, 8 months ago

CBSE > Class 11 > Accountancy

2 answers

Kashish Passi 3 years, 7 months ago

purchase credited when something is paid by goods like goods given to donation, owner withdraw goods for personal use. In other word when purchase(expense)will decrease it will be credited

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Ankita Dewangan 3 years, 8 months ago

Purchase will never be credited. If credited than its not Purchase it will be Purchase return.

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ANSWER

Bhai accounting ka paper 20 ko hai dar lag raha hai kya kiya jaye

Posted by Yash Mishra 3 years, 8 months ago

CBSE > Class 11 > Accountancy

2 answers

Diksha Gupta 3 years, 8 months ago

I am a commerce student?first of all you don't worry just be clear with the important topics

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? Royal Thakur ? 3 years, 8 months ago

Look i am not a commercian but till i know accountancy is based on formulas so firstly remember all the formulas ... And solve question based on that formulas .... Go ahead all the best .. Keep calm ..and B+...

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ANSWER

What is vou her

Posted by Priyanshi Khattri Khattri 3 years, 8 months ago

CBSE > Class 11 > Accountancy

1 answers

Ankita Dewangan 3 years, 8 months ago

Voucher is a proof of occurrence of a business transaction.

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ANSWER

Sri bharata hola a retail trader keeps

Posted by Zaheer Khan 3 years, 8 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

What is objective of accounting information

Posted by Vaishnav S 3 years, 8 months ago

CBSE > Class 11 > Accountancy

2 answers

Ankita Dewangan 3 years, 8 months ago

To ascertain profit and loss of a business To ascertain financial position of a business

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Himanshi . 3 years, 8 months ago

To ascertain profit and loss..

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ANSWER

Which of the following is assumption for IFRS? a. Going Concern Assumption b. Accrual Assumption c. Measuring Unit Assumption d. All of the above

Posted by Sanjay Kumar 3 years, 8 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

Record the following transactions in the journal 1. Bought a horse for delivering goods to customers ₹ 18000. 2. Sold goods to suresh on credit ₹ 100000. 3. Received cheque for ₹ 98000 from suresh in full settlement of account which was banked on same day. 4. An old machine of book value ₹50000 is exchanged for a new machine costing ₹ 120000. The old machine is valued for ₹ 40000 by HMT Ltd. 5. Cheque received from suresh was dishonoured due to his insolvency. 6. The official receiver from suresh paid 60 paisa in a rupee by cheque which was honoured. 7. Depreciation machinery by ₹ 8000. 8. Salary due to clerk ₹ 2000. 9. Uneared commission (commission received in advance) ₹ 1000. 10. Received V.P.P. from Gopal for ₹ 100 to peon who paid conveyance charge to collect it.

Posted by Garima Jain 3 years, 8 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

Explain accounting process??

Posted by Jaspreet Kaur 3 years, 8 months ago

CBSE > Class 11 > Accountancy

3 answers

Ankita Dewangan 3 years, 8 months ago

Accounting is a systematic process of measuring, recording, classifying, summarizing, communication of its information to the user

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Anurag Mundra 3 years, 8 months ago

Accounting is an art of recording and classifying and summarizing in a significant manner and in terms of money, transactions and events which are in part atleast of a financial character and interpreting the result thereof.

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Vaibhavi Tripathi 3 years, 8 months ago

Journal , Trial balance , Ledger , trading and p/l ac then balance sheet

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INCORRECT CORRECT Miss Sullivan had himself been blind for the time but had recovered her eyesight. Her experience in blindness had given her a sympathy for blind children but she determines to spend her whole life to helped at least one blind child to acquire the benefits of educating. To Helen Miss Sullivan became a light of her life.

Posted by I Abhishek.B -2 3 years, 8 months ago

CBSE > Class 11 > Accountancy