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Spending money or incurring a liability for some benefit, service or property received is called expenditure. Payment of rent, salary, purchase of goods, purchase of machinery, purchase of furniture are examples of expenditure. If the benefit of expenditure is exhausted within a year, it is treated as an expense (also called revenue expenditure). A revenue expenditure is a cost that is expensed in the accounting year in which it is incurred. In other words, the cost will be matched with the revenues of the accounting year in which the expenditure took place. Revenue expenditure are costs spent on fixed assets after they have been place in service. Depreciation charges, factory insurance premium, production royalty paid are all examples of revenue expenditure.

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Ch-12 ill-9 there r only 2 a/c of purchase but in question there r many transaction related to purchase

Posted by Suresh Kumar 6 years, 1 month ago

CBSE > Class 11 > Accountancy

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Ch-14

Posted by Yash Dayma 6 years, 1 month ago

CBSE > Class 11 > Accountancy

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Mr.nath who owned us 50,000vecame insolvent and paid only 40%of thus amount,when is term used for the amount not received and in which side of profit and loss account this amount is shown?

Posted by The Hydra Gamer 6 years, 1 month ago

CBSE > Class 11 > Accountancy

2 answers

Surinder Singh Singh 5 years ago

bad debit is shown in trial balance of profit and loss Account bad debt is a expense and expense are shown in debit side

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The Hydra Gamer 6 years, 1 month ago

Hhshs

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Cash in bank 100000 and bank overdraft is 250000 in accounting equation tell me the total capital

Posted by Rituraj Chakraborty 6 years, 1 month ago

CBSE > Class 11 > Accountancy

2 answers

Kishan Chanani 6 years, 1 month ago

Cash in bank is assets Bank overdraft is liability Then Capital = liability - assets = 250000 - 100000 = 150000

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Rahul Halder 6 years, 1 month ago

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Prepare a Bank Reconciliation Statement from the following particulars on 31st March,2017: Bank statement showed a favourable balance of Rs 12,400. 1- cheques amounting to Rs 45,000 were drawn on 27th March,2017 of which cheques of Rs 33,000 were encashed on 2nd April,2017. 2- cheque issued returned on technical grounds Rs 4,000. 3- Bank recorded a Cash deposit of Rs 3,210 as 3,120. 4-Bill for collection not advised by the bank but credited to our account Rs 8,000. 5- A bill for Rs 10,000 was retired by the bank under a rebate of Rs 200 but the full amount of the bill was credited in the bank column of the Cash Book

Posted by Sarandeep Singh 6 years, 1 month ago

CBSE > Class 11 > Accountancy

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Meaning of general journal

Posted by Rahul Bisht 6 years, 1 month ago

CBSE > Class 11 > Accountancy

1 answers

Kishan Chanani 6 years, 1 month ago

Journal is a book of primary entry or a book of original entry in which transaction is firstly recorded in a chronological order

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Which of the following is not a limitation of acconting

Posted by Abhishek Kher 6 years, 1 month ago

CBSE > Class 11 > Accountancy

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What is legal expenses

Posted by Mithlesh Kumar 6 years, 1 month ago

CBSE > Class 11 > Accountancy

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Βâdãl Ãgārwal 6 years, 1 month ago

Legal expenses or basically expenses in nature are income statement or profit and loss account. Usually legal expenses are classified as professional fees under general and administrative expenses on income statement/profit and loss.

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On1st july2019, anmol draws a bill on rekha for 10,000payable after 3 months for goods sold of the same amount

Posted by Jyoti Hinduja 6 years, 1 month ago

CBSE > Class 11 > Accountancy

1 answers

Yuvraj Puneet 6 years, 1 month ago

first entry will Rekha A/C dr 10000 to sales. 10000 second : B/R A/C Dr TO REKHA

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One sides error are corrected through _account

Posted by Raj Bhagat 6 years, 1 month ago

CBSE > Class 11 > Accountancy

3 answers

Yuvraj Puneet 6 years ago

supense A/C

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@Iraj Patel 6 years, 1 month ago

ma nahi bataunga?

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Raj Bhagat 6 years, 1 month ago

Drawer

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Noting charges account is debited by

Posted by Raj Bhagat 6 years, 1 month ago

CBSE > Class 11 > Accountancy

2 answers

Yuvraj Puneet 6 years ago

drawee

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Βâdãl Ãgārwal 6 years, 1 month ago

Drawer

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Differentiate between single entry system and double entry system

Posted by Taskeen Shahid 6 years, 1 month ago

CBSE > Class 11 > Accountancy

2 answers

Yogita Ingle 6 years, 1 month ago

Sr. no.	Basis	Double Entry System	Single Entry System
1	Aspects of Transactions	It considers both aspects of a particular transaction.	It does not necessarily considers both the aspects of a transaction. It may consider one or may not consider any of the aspects of a transaction.
2	Type of Accounts	It maintains all 2 types of accounts namely, real, nominal and personal accounts.	It maintains details and records of personal accounts only along with Cash book to record all cash transactions.
3	Trial balance	It requires preparation of Trial Balance which identifies arithmetic accuracy of the records maintained.	It is an incomplete system of accounting which and therefore, it does not provide complete details to prepare a Trial Balance.
4	Profit and Loss	It facilitates ascertainment of profit or loss with the help of profit and loss account.	It does not maintain complete details of the transactions and therefore, it is difficult to prepare a particular statement which will determine profit or loss.
5	Financial Position	It facilitates preparation of balance sheet which shows the financial position of the entity.	It is difficult to ascertain the financial position of the entity as balance sheet is not prepared.
6	Adjustments	It takes into consideration all the adjustments at the tiime of preparing the financial statements of the entity.	It is an incomplete system of accounting and hence, there is no provision to make adjustments.

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Taskeen Shahid 6 years, 1 month ago

Differentiate between single entry system and double entry system

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What is money measurement

Posted by Triloki Chaurasia 6 years, 1 month ago

CBSE > Class 11 > Accountancy

1 answers

Yogita Ingle 6 years, 1 month ago

Money Measurement : The concept of money measurement states that only those transactions and happenings in an organisation, which can be expressed in terms of money are to be recorded in the book of accounts. Also, the records of the transactions are to be kept not in the physical units but in the monetary units.

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Class 12 one mark questions

Posted by Abhijith Marc 6 years, 1 month ago

CBSE > Class 11 > Accountancy