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Received a cheque from naresh of 1000

Posted by Bipin Patel 4 years ago

CBSE > Class 11 > Accountancy

2 answers

Shreyansh Jain 4 years ago

Cheque in hand ac dr 1000 To Naresh 1000

Amit Kumar 4 years ago

Bank A/C Dr 1000 To naresh 1000 (Being : Received cheque from Naresh)

Aruna, decided to Start business Of fashion garments under the name Of M/s. Degigner Wear from 1st April 2019 She had a saving Of about Rs. 10,00,000. She invested Rs. 3,00,000 out of her savings and borrowed equal amount from State Bank of India. She purchased a commercial space oi 500 sq. feet for Rs. 5,00,000. The space was renovated to make it ready as showroom she purchase furniture and fixture fir 75000. Total amount of bank loan is to be repaid in 20 quarterly instalment. beginning 30th June, 2019. Annual Rate Of Interest is 12%. Bank loan and interest repaid in the first year are as follows: June 30, 2019 = (Rs. 15,000 + Rs. 9,000) interest) Sept. 30, 2019 = (Rs. 15,000 + Rs. 8,550) interest) Dec. 31, 2019 = (Rs. 15,000 + Rs. 8,100) interest) March 31, 2020 = (Rs. 15,000 + Rs. 7,650) interest) She started business on 1st April. 2019 getting it registered under GST. In view of further deposit 2 lakh in the bank. She paid Security Deposit of Rs. 5,000 for the connection with BSES Rajdhani Power Ltd and Rs. 2,000 to MTNL for telephone connection. Furniture for Rs. 10,000 was purchased. All the receipts were in cash to be deposited in the bank on the same day. At the end of the year, their results showed the following: Rs. Total Sales20,00,000Total Purchases17,00,000Electricity Expenses40,000Telephone Charges50,000Cartage Outwards60,000Travelling Expenses45,000Entertainment Expenses5,000Maintainance Expenses25,000Miscellaneous Expenses15,000Electricity Expenses Payable20,000 She withdrew Rs. 5,000 by cheque each month for her personal expenses. Bank loan was serviced and instalments were paid regularly. 1. Journalise the above post into the prepare the Trial Balance. 2. Prepare the Profit and Loss Account and Balance Sheet. Charge depreciation @ 5% on Building and 10% on Furniture. Closing Stock at the end of the year was Rs. 5,50,000.

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Posted by Aayush Jain 4 years ago

CBSE > Class 11 > Accountancy

1 answers

Anshika Yadav 1 year ago

answer of this question

75Thank You

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30 transaction with jornal entries , ledger,trial balance

Posted by Hitiksha Agrawal 4 years ago

CBSE > Class 11 > Accountancy

0 answers

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30 transactions journal,ledger,trial balance and balance sheet

Posted by Rohan Raj 4 years ago

CBSE > Class 11 > Accountancy

1 answers

Rohan Raj 4 years ago

30 transaction

5Thank You

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Class 11 accounts project 30 transactions.

Posted by Jaya Choudhary 4 years ago

CBSE > Class 11 > Accountancy

1 answers

Divyanshi Kesherwani 4 years ago

see on youtube

ANSWER

30 transactions which include journal, ledger,trail balance, profit and loss acc and balance sheet

Posted by K.Sidharthan Sid 4 years ago

CBSE > Class 11 > Accountancy

0 answers

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Received a cheque from Ramesh to whom goods were sold 12000 last year . Allowed 1% on discount on payment

Posted by Shivam Dubey 4 years ago

CBSE > Class 11 > Accountancy

1 answers

Lakshmi Sakshi 4 years ago

Bank A/C ..........................Dr 11880 Discount allowed A/C.........Dr 120 To Ramesh 12000

Make trading profit and loss account and balance sheet of it. Venkat & co. Commenced in business with furniture 25000 cash 75000 and goods 20000 Sales 10000 Purchases 8000 Sold goods to mahesh 12000 Bought goods from ramesh 7000 Sold goods to keshav for cash 6000 Mahesh returned goods 6000 Commission received 1000 Returned goods to ramesh 1500 Cash deposited into bank 15000 Bought goods from suresh 12000 Paid to ramesh by cheque 4000 Discount received by ramesh 200 Withdraw from bank for domestic use 3000 Sold goods to madhav 9000 Cash received from mahesh 4000 Discount allowed by him 100 Stationary expense 500 Cash paid to suresh 3000 Cash received from madhav 5000 Cash deposited into bank 10000 Paid salaries by cheque 3000

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Case study (project) on account

Posted by Arpit Gupta 4 years ago

CBSE > Class 11 > Accountancy

0 answers

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Posted by Kriti Kumari 4 years ago

CBSE > Class 11 > Accountancy

0 answers

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Ram started business with cash

Posted by Youtube Shorts 4 years ago

CBSE > Class 11 > Accountancy

2 answers

Bipin Patel 4 years ago

Cash A/c Dr. To capital A /c

Harshita Dhariwal 4 years ago

Cash A/C Dr. To capital A/C

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A Company purchased a machine for ` 5,00,000 (including a boiler worth ` 1,00,000) The company provides depreciation @ 10% as per straight line method. After four years the boiler becomes useless and it was discarded for ` 20,000.Prepare machine A/c for four years.

Posted by Kaira Singh 4 years ago

CBSE > Class 11 > Accountancy

0 answers

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State with reasons whether the following are revenue or capital exenditure: 1. ` 2,00 spent on repairing a second hand machine before put to use. 2. ` 10,000 on repainting the factory. (b) What do you mean by Specific Reserve?

Posted by Kaira Singh 4 years ago

CBSE > Class 11 > Accountancy

0 answers

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prepare trading and profit and loss account and balance sheet of pankaj and adjustments as on, 31 March 2015 wages 10,000

Posted by Khushi Gupta 4 years ago

CBSE > Class 11 > Accountancy

1 answers

Ayush Singh 4 years ago

Salary acc Dr 1000 Ti pankaj. 1000

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On 23 November 2020 A Sold goods to B for Rs10,000. A draws bill for Rs9,800 in full settlement upon B to which B accepts and return it to A. The period of bill was for 2 months. A owned Some amount to C amounting to Rs 10,000. Therfore a A endoursed the bill to C in his fullsettlement After 1 Month C discounted the bill from bank at Rs9,800. On maturity the bill was dishonoured and A paid the due amount to C and after 1 week B paid the due amount to A. Pass necessary entries in the books of all the parties

Posted by Ratana Bhutra 4 years ago

CBSE > Class 11 > Accountancy

1 answers

Shivam Sharma 4 years ago

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Deference between book keeping and accounting ?

Posted by Hariom Kushwaha 4 years ago

CBSE > Class 11 > Accountancy

2 answers

Aditya Maheshwari 3 years, 11 months ago

Book Keeping is concerned with identifying financial transactions and events; measuring them in money terms; recording them in the books of account and classifying them. While Accounting is concerned with summarizing the recorded transactions and events , interpreting them and communicating the results thereof.

Deepanshu Jha 4 years ago

Bookkeeping include identify ,record , summarising the transaction where as they also include interpersonal of result and communicate to user abou the business

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mr manoij a commerce student

Posted by Yogita Kautilya 4 years ago

CBSE > Class 11 > Accountancy

0 answers

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What is the meaning of drawings and does we write drawing in trading account

Posted by Payal Khandal 4 years ago

CBSE > Class 11 > Accountancy

4 answers

Anurag Meena 4 years ago

Akshit Kankaria 4 years ago

Money or goods withdrawn by owner for personal use is called drawings. Drawing is written in Balance Sheet.

Harshita Bansal❤️ 4 years ago

No, we do not write drawing in trading account

Harshita Bansal❤️ 4 years ago

The money or goods or both withdrawn by owner from business for personal use, is known as drawings. Example: Purchase of car for wife by withdrawing money from business

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What a conclusion for comprehensive project for class 11 . It must be 150 words

Posted by 48.Shashi Kumar 11J 4 years ago

CBSE > Class 11 > Accountancy

0 answers

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which is the last step of accountancy as a process of information

Posted by Ankush Hiranwal 4 years ago

CBSE > Class 11 > Accountancy

0 answers

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Purchase of pen is treated as expense, is based on ………concept/convention/principle. 1

Posted by Parneet Kaur 4 years ago

CBSE > Class 11 > Accountancy

0 answers

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From the following trial balance extract

Posted by Pradhum Sharma 4 years ago

CBSE > Class 11 > Accountancy

0 answers

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30 transaction solutionfor project work

Posted by Susil Upadhyay 4 years ago

CBSE > Class 11 > Accountancy

0 answers

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Credit sale of rs 572 Mohan was recorded as 750

Posted by Danish Khan 4 years ago

CBSE > Class 11 > Accountancy

2 answers

Monika Sahu 4 years ago

Sales Ac Dr. 178 To Mohan. 178

Aditya Chaudhary 4 years ago

Sales A/c Dr. To Mohan

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What is the Matching Concept? Why should a business concern follow this concept? Discuss.

Posted by Tina Saini 3 years, 10 months ago

CBSE > Class 11 > Accountancy

1 answers

Sia ? 3 years, 10 months ago

Matching concept states that expenses that are incurred in an accounting period should be matching with the revenue earned during that period. Thus all expenses for that accounting period whether or not paid during that year and all revenue whether earned or not during the period should be considered to calculate profit or loss. Hence, depreciation of the current year is charged against the current year’s revenue. In other words, the full cost of the asset is not treated as an expense in the year of its purchase itself rather it is spread over its useful life.

Business concerns should follow this concept as :

Matching concept portrays the exact financial status of the business.
As revenue and expenses are matched, the profit or loss is not over or under-stated.
Expenditure of capital assets which span over a period cannot be determined in one accounting period. Hence, depreciation as an expense can be more suitable for calculating business profits.
It ensures transactions occurring in one accounting period although realised in another accounting period will be recognised for the accounting period in which it occurred.