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Basic accounting concepts

Posted by Ujjwal Gurjar 6 years, 3 months ago

1 answers

Arpita Bajpai 6 years, 2 months ago

Basic accounting concepts are the principles of accountancy to do fair entry in account book.It is known as GAAP.And there are many concepts.

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Define the debit and credit notes

Posted by Shahwaj Khan 6 years, 3 months ago

CBSE > Class 11 > Accountancy

1 answers

Anuj Thakur 6 years, 3 months ago

A debit is an accounting entry that either increases an asset or expense account, or decreases a liability or equity account. It is positioned to the left in an accounting entry. A credit is an accounting entry that either increases a liability or equity account, or decreases an asset or expense account.

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Jounalise the following Sudhir kumar who owed me Rs.3,000 has failed to pay the amount . He pays me a compensation of 45 paise in a rupee

Posted by Muskan Arora 6 years, 3 months ago

CBSE > Class 11 > Accountancy

2 answers

Anurag Pitaliya 6 years, 3 months ago

Cash a/c Dr. 1350 Bad debts a/c Dr 1650 To sudhir. 3000

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Sia ? 6 years, 3 months ago

Conversion formula:
1 paise = 0.01 Rupees
45 paise = 45 {tex}\times{/tex} 0.01 = 0.45 rupees.
The compensation paid is:
0.45 {tex}\times{/tex} 3000 = 1350
The total amount paid is:
1350 + 3000 = 4350
Rs 4350

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Journalish the following transaction in the books of Shri Manoj Kolkata and prepare ledger accounts

Posted by Kareena Komalwar 6 years, 3 months ago

CBSE > Class 11 > Accountancy

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What do you mean by accounting concepts

Posted by Abhay Srivastava 6 years, 3 months ago

CBSE > Class 11 > Accountancy

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Calculate the amount of adjusted purchase from the following information (a) Cash Purchases=100000 (b) Credit Purchases=60000 (c) Return outward =10000 (d) Closing stock Is Rs. 20000 more than the opening Stock

Posted by Gold Lyrics 2 years, 8 months ago

CBSE > Class 11 > Accountancy

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What is accounting information system

Posted by Muskan Kumari 6 years, 3 months ago

CBSE > Class 11 > Accountancy

0 answers

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Revelance meance

Posted by Adiii Agrawal 6 years, 3 months ago

CBSE > Class 11 > Accountancy

0 answers

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Bank collected dividend Rs.300 from Reliance capital

Posted by Pranshu Patel 6 years, 3 months ago

CBSE > Class 11 > Accountancy

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Mohan started a business on 1st April 2017 with the capital of 25000 rupees and a loan of 12500 borrowed from Shyam during 2017-18 he had introduced additional capital of rupees 12500 and had withdrawn 7500 for personal use on 31st March 2018 is assets were 75000 rupees find out is his capital as on 31st March 2018 and profit made or loss incurred during the year 2017 18

Posted by Samyak Jain 6 years, 3 months ago

CBSE > Class 11 > Accountancy

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Capital is liability for business state and explain the concept involved

Posted by Vineet Roy 6 years, 3 months ago

CBSE > Class 11 > Accountancy

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How can we make format of accounting equation by reading questions

Posted by Samiksha Dhaundiyal 6 years, 3 months ago

CBSE > Class 11 > Accountancy

1 answers

Sriyansh Nahar 6 years, 3 months ago

First we make an box the we can set some coloum the question by question we get assets name the we fill theciloum and bix 1st block is date second is particular then third is we are find assets and liability or capital the fill the coloum the question bu question we get the answers

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What are accounting concept imp for exams

Posted by Zeeshan Armaan 6 years, 3 months ago

CBSE > Class 11 > Accountancy