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

Accounting equation is also called balance sheet equation. It generally made for double-entry bookkeeping system. It consist relationship between assets, liabilities and owner equity Of a person or business.

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In single column cash book on which side the following transaction Will be recorded. Withdrawn from Bank for expenses 30000??

Posted by Ankur Jha 6 years, 5 months ago

CBSE > Class 11 > Accountancy

2 answers

Ankur Jha 6 years, 4 months ago

Thanku ritu ??

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Ritu Agarwal 6 years, 5 months ago

Debit side

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Definition of Accounting.

Posted by Abhay Patel 6 years, 5 months ago

CBSE > Class 11 > Accountancy

2 answers

Diksha Rathour 6 years, 5 months ago

According to me accounting is related to buisness and business having more transactions & we record these transactions so the system of recording transactions is called accounting..... may be its helpful to you ??☺

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Himanshi Kasera 6 years, 5 months ago

Accounting is a process of identifying, measuring, recording, classifying and summarising in terms of money, transactions and events of a financial nature , and interpreting the results thereof.

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Bobby opened a consulting firm and completed these transaction during November 2014: Invested rs.4 lakh cash and office equipment with Rs 1,50,000 in a business called bobble consulting

Posted by Soniya Bharti 6 years, 5 months ago

CBSE > Class 11 > Accountancy

1 answers

Mapi Choudhary 5 years ago

I need answer

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List any two function of accounting

Posted by Shalu Kumari 6 years, 5 months ago

CBSE > Class 11 > Accountancy

1 answers

Noor Siddiqui 6 years, 5 months ago

The two function of accounting are - 1) Communicating the financial Information 2) Assistance to Management

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1) Start business with cash 45,000. 2)opened a bank account with deposite of 4,500 3) brought goods from M/S. sun & co. for 11,200

Posted by Aakash Rana 6 years, 5 months ago

CBSE > Class 11 > Accountancy

1 answers

Ankur Jha 6 years, 5 months ago

What do you want to ask???

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Prepare a accounting equation raghu start business with cash 150000 good costing 75000 sold profit of 33 1/3% of the payment received in cash

Posted by Rameshwar Jat 6 years, 5 months ago

CBSE > Class 11 > Accountancy

2 answers

Sanjay Singh 6 years, 5 months ago

And then we will subtract 75000 from stock and we will add 10000 to cash and 25000 to capital (profit)

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Sanjay Singh 6 years, 5 months ago

First cash anr capital will be increased by 150000

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Name any two users of accounting information?

Posted by Sujal Gupta 6 years, 5 months ago

CBSE > Class 11 > Accountancy

2 answers

Sanjay Singh 6 years, 5 months ago

Investors and creditors

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Akshay Aakash 6 years, 5 months ago

Internal users and external uses

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What is ut GST

Posted by Anshuman Kumar 6 years, 5 months ago

CBSE > Class 11 > Accountancy

2 answers

Neelam Soni 6 years, 5 months ago

Universal gst

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Sandeep Gupta 6 years, 5 months ago

Where supply is made from union territory that does not have their own legislation. for eg: nagaland, puducherry, etc Along with cgst, utgst would be charged and sgst would be replaced with utgst.

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Prepare accounting equation from the following : (a) kunal started business with cash Rs 250000

Posted by Ujjwal Gurjar 6 years, 5 months ago

CBSE > Class 11 > Accountancy

1 answers

Neelam Soni 6 years, 5 months ago

Add in cash and add in capital

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Purchased goods from sanjiv of rs 40000

Posted by Nayan Neema 6 years, 5 months ago

CBSE > Class 11 > Accountancy

2 answers

Ritu Agarwal 6 years, 5 months ago

Stock will increase and creditors will increase .

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Neelam Soni 6 years, 5 months ago

Decrease in cash add in stock

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Y start a business on 1st April 2013 with a capital of 200000 and aloan of 75000 from the bank during the yearhe had introduce additional capital of 60000 and had withdran 36000 for personal purpose on 31st March 2014 his asset were 380000 find out his capital as on 31st March 2014 and profit earned during the year 2013_2014

Posted by Pankaj Patel 6 years, 5 months ago

CBSE > Class 11 > Accountancy

1 answers

Harsh Yadav 4 years, 5 months ago

I want answet

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Explain the meaning of accountancy

Posted by Neelam Parajapati 6 years, 5 months ago

CBSE > Class 11 > Accountancy

2 answers

Prerna Dagur 6 years, 5 months ago

Accounting is a systematic knowledge of accounting. It explains how to deal with various aspects of accounting.It educates us how to maintain the books of account.

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Deepanshu Marwah 6 years, 5 months ago

Accountancy is actually a subject which provide us a set of knowledge and tells us the basic rules and principles to do accounting process in the books of accounts.

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When we made payment by cheque . Cash discount is allowed true and false

Posted by Prachi Tyagi 6 years, 5 months ago

CBSE > Class 11 > Accountancy

1 answers

Prerna Dagur 6 years, 5 months ago

True , cash discount is allowed.

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Bought goods for cash of the list price of 80000 at 10%trade discont and 5/2% cash discount

Posted by Palakshi Chauhan 6 years, 5 months ago

CBSE > Class 11 > Accountancy

1 answers

Adrsh Singh 6 years, 5 months ago

Purchase a/c________dr. 72,000 To Cash recieved a/c 1800 To cash a/c 7o,200 I hope this answers will be helpful for you

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Accounting equation illustration question no 1

Posted by Hrithik Sharma 6 years, 5 months ago

CBSE > Class 11 > Accountancy

0 answers

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Goods costing rs. 40000/- sold at a profit of 20% .what will be the journal entry

Posted by Ritu Agarwal 6 years, 5 months ago

CBSE > Class 11 > Accountancy

3 answers

Prerna Dagur 6 years, 5 months ago

Cash A/C Dr. Rs.48,000 To sales A/C Rs.48,000 (Being goods sold for cash) Selling price =Cost of goods + Profit =Rs.40,000 +20%(40,000) =Rs.40,000 +8,000 =Rs.48,000

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Ritu Agarwal 6 years, 5 months ago

Thankyou

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Priyanshu Jha 6 years, 5 months ago

cash A/C Dr. 48000 To profit and loss A/C 8000 To sales A/C 40000

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1000 due from rahul are now bad debts

Posted by P C 6 years, 5 months ago

CBSE > Class 11 > Accountancy

2 answers

Ritu Agarwal 6 years, 5 months ago

Bad debts a/c dr. 1000 To debtors a/c 1000

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Priyanshu Jha 6 years, 5 months ago

Rahul Dr 1000 To bad dept A/C 1000

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What are bill receivable and bills payable

Posted by Jatin Lalwani 6 years, 5 months ago

CBSE > Class 11 > Accountancy

1 answers

Prerna Dagur 6 years, 5 months ago

Bills receivable are drawn when a vendor or seller makes any credit sale to the business. The amount mentioned in the bill is paid on the future date and such bill is called bills payable.

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Non- monetary transactions are not recorded in the books of accounts . Explain with necessary examples?

Posted by N A 6 years, 5 months ago

CBSE > Class 11 > Accountancy

2 answers

Ankit Arya 6 years, 4 months ago

Honesty, smartness, employees cuteness cannot be recorded in accounting ??

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Ritu Agarwal 6 years, 5 months ago

Strike by employees are not recorded bcz we can't express it in terms of money.

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Explain liabilities and assets

Posted by Mahesh Kumar Garg 6 years, 5 months ago

CBSE > Class 11 > Accountancy

1 answers

Sia ? 6 years, 5 months ago

A liability is defined as the future sacrifices of economic benefits that the entity is obliged to make to other entities as a result of past transactions or other past events.
An asset is any resource owned by the business. Anything tangible or intangible that can be owned or controlled to produce value and that is held by a company to produce positive economic value is an asset.

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Explain in short the meaning of an accounting equation

Posted by Samim Ansari 6 years, 5 months ago

CBSE > Class 11 > Accountancy