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

Reserve	Provision
The portion of profit kept aside for unforeseen obligations of a business	A portion of money from the business set aside for meeting known liabilities or expenses
Created by debiting Profit and Loss appropriation account	Created by debiting Profit and Loss Account
It provides capital for running the business and safeguards against expenses from unforeseen contingencies	It secures business from expenses arising from known liabilities
Presence of profit is required for allocation of reserve.	Presence of profit not necessary for allocation
Paid from reserves	Cannot be paid
Reduces net profit of the organisation	Reduces profits for dividend distribution
Always shown on the liability side	Appears as a deduction from the concerned asset, in case of an asset, in case of liabilities, it is shown in the liabilities side
Can be used for any given purpose	Needs to be used for the specific purpose it is allocated for

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Prepare a trial Balance with the following information 1. Capital - 2,00,000 2. Cash - 1,80,000 3. Creditors - 1,00,000 4. Sales - 3,00,000 5. Stock - 70,000 6. Debtors - 3,00,000 7. Bank loan - 1,50,000 8. Purchases - 2,00,000

Posted by Gautam Singh 6 years ago

CBSE > Class 11 > Accountancy

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2 hours ma thoury jada aaye gi ya praticle question

Posted by Seema Kushwaha 6 years ago

CBSE > Class 11 > Accountancy

1 answers

Nishita Jaisalmeria 6 years ago

Practical question

3Thank You

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How we calculate intrest on retiring under rebate

Posted by Harsh Rajput 6 years ago

CBSE > Class 11 > Accountancy

0 answers

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Why we are telling profit & loss A/C

Posted by Gopi Reddy 6 years ago

CBSE > Class 11 > Accountancy

1 answers

Nishita Jaisalmeria 6 years ago

Bcoz at the end of year when we calculate . It helps us to know what our business is earning profit or loss

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Balance sheet

Posted by Rohan Tripathi 6 years ago

CBSE > Class 11 > Accountancy

0 answers

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"Depreciation" is real account, personal account or nominal account ?Which type of account is this?

Posted by Riya Riya 6 years ago

CBSE > Class 11 > Accountancy

3 answers

Siddarth Chandelia 6 years ago

Depreciation is a nominal account

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Gopi Reddy 6 years ago

I think nominal account debit all expenses credit what income & gains

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Jeevan Narra 6 years ago

Depreciation is a nominal account because it is a loss to the business and nominal account says (debit all expenses and losses)

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"Bad debt" is real account, personal account or nominal account? which type of account is this?

Posted by Riya Riya 6 years ago

CBSE > Class 11 > Accountancy

2 answers

Jeevan Narra 6 years ago

Bad debts is nominal account because it is an expense it says (debit all expens6an losses)

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Rohan Bhagat 6 years ago

Bed debt real account

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What is a contra entry?

Posted by Rohan Bhagat 6 years ago

CBSE > Class 11 > Accountancy

2 answers

Jeevan Narra 6 years ago

Contra entry means recording on both the side if the debit as well as credit like if a business deposits its cheque into the bank than it involves both cash as well as bank.

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Yogita Ingle 6 years ago

Contra entry is a transaction which involves both cash and bank. Both debit aspect and credit aspect of a transaction get reflected in the cash book. For example:
Cash received from debtors and deposited into bank
Cash withdrawn from bank for office use

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Pass the journal entry: Salary due to Martha ₹20000

Posted by Rishu Rishabh 6 years ago

CBSE > Class 11 > Accountancy

4 answers

Rishu Rishabh 6 years ago

Why cr. To martha?

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Parminder Singh Virk 6 years ago

Outstanding Salary a/c Dr. To salaries a/c

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Jeevan Narra 6 years ago

outstanding salary A/C Dr To Martha A/C because the the amount is not yet paid to the martha and it is outstanding salary A/C

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Neelima Maurya 6 years ago

Salary A/C.......dr. 20,000 To Martha A/c. 20,000

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"Bank loan" is personal account ,real account, or nominal account. Which type of account is this?

Posted by Riya Riya 6 years ago

CBSE > Class 11 > Accountancy

3 answers

Nishita Jaisalmeria 6 years ago

It is nominal account

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Riya Riya 6 years ago

But bank is an asset in liability+capital =assets also. so it means it is real accounts also. Give reason why I should consider bank loan as nominal account.

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Rishu Rishabh 6 years ago

Nominal

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One story for record transaction journal lader trial blance and profit and loss a/c for project work

Posted by Piyush Boy 6 years ago

CBSE > Class 11 > Accountancy

0 answers

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Example of specific reserve

Posted by Sidhant Sukhija 6 years ago

CBSE > Class 11 > Accountancy

1 answers

Yogita Ingle 6 years ago

A specific reserve is one, which is created for some specific purpose by debiting Profit and Loss Appropriation Account. Normally, it is available for the purpose for which it has been created.

Some of the examples of specific reserves are as below:

Dividend Equalization Reserve.
Investment Fluctuation Reserve.
Debenture Redemption Reserve.
Plant and Machinery Replacement such as Sinking Fund Reserve or Depreciation Fund Reserve.

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Transactions

Posted by Nayan Garhewal 6 years ago

CBSE > Class 11 > Accountancy

1 answers

Abhishek Singh 6 years ago

Bzbbsgßhhsshh

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Bad debt

Posted by Kajol Kumari 6 years ago

CBSE > Class 11 > Accountancy

2 answers

Bhavay Khanna 6 years ago

Bad debts are those who not able to pay his all debts and he become insolvent i.e not in position to pay money

1Thank You

Rohan Bhagat 6 years ago

Bad debts mean ganda chij

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Meaning of bad debt

Posted by Kajol Kumari 6 years ago

CBSE > Class 11 > Accountancy

1 answers

Neelima Maurya 6 years ago

Whenever the debtor refuse to pay the debt that is called bad debts.

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ts gerwal

Posted by Meera Mahawar 6 years ago

CBSE > Class 11 > Accountancy

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Posted by Sudeep Kumar 6 years ago

CBSE > Class 11 > Accountancy

0 answers

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Carriage inwards means what

Posted by Pradeep Hitnalli 6 years ago

CBSE > Class 11 > Accountancy

3 answers

Nishita Jaisalmeria 6 years ago

Sales return

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Pradeep Hitnalli 6 years ago

Thanku

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Yogita Ingle 6 years ago

Carriage inwards refers to the transportation costs required to be paid by the purchaser when it receives merchandise it ordered with terms FOB shipping point. Carriage inwards is also known as freight-in or transportation-in.

Carriage inwards is considered to be part of the cost of the items purchased. Hence, for inventory items carriage inwards will be part of the cost of the goods available, the cost of inventory, and the cost of goods sold.

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Dep on a machine in 25% purchase price of machinery in 50,00,000

Posted by Supriya Kumari 6 years ago

CBSE > Class 11 > Accountancy

2 answers

Neelima Maurya 6 years ago

50,00,000×25/100 = 12,50,000

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Meet Singh 6 years ago

Dep-5000000×25/100

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Meaning of gain and loss

Posted by Harman Bajaj 6 years ago

CBSE > Class 11 > Accountancy

6 answers

Nishita Jaisalmeria 6 years ago

I mean profit or income and loss or expanse

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Nishita Jaisalmeria 6 years ago

Gain means profit or expanse Loss means loss or income

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Pradeep Hitnalli 6 years ago

Loss means excesse of expense over its related revenue is loss

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Pradeep Hitnalli 6 years ago

Gain means an income that arise from transaction which are unexpected or irregular to the bs

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Meet Singh 6 years ago

Gain means the profit you earn Loss means unprofit or minus from your capital

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Supriya Kumari 6 years ago

Dep of machines 25% purchase price of machines is 50,00,000

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ques.12 of ch. 18

Posted by Anji Rajput 6 years ago

CBSE > Class 11 > Accountancy

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Why deferred revenue expenditure is revenue in nature not of capital

Posted by Tisha Mehndi 6 years ago

CBSE > Class 11 > Accountancy

0 answers

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Why is it necessary to record the adjusting enteries in the preparation of final acxounts

Posted by [email protected] Bhardwaj 6 years ago

CBSE > Class 11 > Accountancy

1 answers

Tisha Mehndi 6 years ago

So many entries r there which do not have any place in trial balance so there are adjustment entries to show the profitability and check of financial statement

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Dolly sold goods to Geeta for rupees 12000 on 1st Jan 2019 on the same day Dolly draw the 3 bills of rupees 4000 each of 3 month duration on Geeta payable 3 months after sight Geeta accept the bills on 7jan 2019 and and return these to dolly Dolly discounts the first bill on 7th Jan 2019 second bill on 7th February 2019 and third bill on 7th March 2019 discounting charges at 6% per annum in all the three bills the bills are duly met on due date

Posted by Taneesha Bhania 6 years ago

CBSE > Class 11 > Accountancy

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If B/R of 50000 retained with drawer (X)and noting charge were Rs_600 Here , Drawee(Y)

Posted by Rahul Mishra 6 years ago

CBSE > Class 11 > Accountancy

1 answers

Nishita Jaisalmeria 6 years ago

What is full question

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If closing stock is in trial balance wherr it is shown

Posted by Mankirat Khurana 6 years ago

CBSE > Class 11 > Accountancy

4 answers

Nishita Jaisalmeria 6 years ago

Credit side

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Aaaa Aaaa 6 years ago

At cr side

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Taneesha Bhania 6 years ago

By side

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Mankirat Khurana 6 years ago

It is shown in balance sheet only because if closing stock is given in adjustments then it is shown in both trading and P/L account as well as balance sheet

2Thank You

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1000 paid for repairs to building have been debited to building account

Posted by Lavanya Makhija 6 years ago

CBSE > Class 11 > Accountancy