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On Ist April, 2020, Plant and Machinery was purchased for 1,20,000. New machinery was purchased on 1st Oct., 2020, for ₹50,000 and on 1st July, 2021, for ₹25,000. On 1st January, 2023, a machinery of the original value of ₹20,000 which was included in the machinery purchased on 1st April, 2020, was sold for 26,000, Prepare Plant & Machinery A/c for three years after providing depreciation at 10% p.a. on Straight Line Method. Accounts are closed on 31st March every year

Posted by Vip Padmaraj 7 months ago

ICSE & ISC > Class 11 > Accountancy

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Case study of a sole proprietor including 25 transaction and make journal ledger trial balance trading account profit and loss account and balance sheet from the transactions

Posted by Shivi Agarwal 10 months, 1 week ago

ICSE & ISC > Class 11 > Accountancy

0 answers

ANSWER

Commenced business with cash ₹60000

Posted by Adithyan Santhosh 1 year, 5 months ago

ICSE & ISC > Class 11 > Accountancy

1 answers

Rocky Handsome 1 year, 4 months ago

Cash A/c ...........Dr 60000 To capital A/c. 60000

2Thank You

ANSWER

Paid A. Shina a cheque in full settlement of the account rs 1800

Posted by Anirban Mitra 1 year, 8 months ago

ICSE & ISC > Class 11 > Accountancy

1 answers

Chai Biscut 1 year, 1 month ago

a. sinha dr. 1800 to bank a/c 1800

0Thank You

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Manoj, naresh and Om were commerce students. They had opted computer subject

Posted by Kush Shrivastava 2 years, 2 months ago

ICSE & ISC > Class 11 > Accountancy

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Mr Tushar decided to start a business

Posted by Pavan Ramakrishna 1 year ago

ICSE & ISC > Class 11 > Accountancy

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Mr . Manoj a commerce student opted

Posted by Sufiyan Gulab 2 years, 5 months ago

ICSE & ISC > Class 11 > Accountancy

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Gaap CH explain

Posted by Amay Nauriyal 2 years, 6 months ago

ICSE & ISC > Class 11 > Accountancy

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On 1st April 2014 veeru Ltd

Posted by Drishti Jodhani 2 years, 8 months ago

ICSE & ISC > Class 11 > Accountancy

0 answers

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What is management

Posted by Muhammed Hisham 2 years, 8 months ago

ICSE & ISC > Class 11 > Accountancy

1 answers

Suraj Singh Arya 2 years, 8 months ago

Management is a setting up a process of planning, organising, staffing, directing and controlling to get the work done in an efficient and effective manner.

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paid cash to Kamlesh 15000

Posted by Shah Faisal 2 years, 10 months ago

ICSE & ISC > Class 11 > Accountancy

3 answers

Suraj Singh Arya 2 years, 8 months ago

Kamlesh Dr. 15000 To Cash A/c 15000

0Thank You

Muhammed Hisham 2 years, 8 months ago

What is management

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Vikash Sharma 2 years, 9 months ago

cash debit to kamlesh

2Thank You

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Goods purchase from dhakal of rs 3000 has been wrongly debited in his account

Posted by Kunal Thapa 3 years, 1 month ago

ICSE & ISC > Class 11 > Accountancy

1 answers

Suraj Singh Arya 2 years, 8 months ago

Purchase A/c Dr 3000 To suspense A/c. 3000

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ANSWER

Rectification of Accounting Errors

Posted by Kunal Thapa 3 years, 1 month ago

ICSE & ISC > Class 11 > Accountancy

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On 1st April 2014, Veeru Ltd. Purchased a machinery for Rs. 2,50,000/- and spent Rs. 50,000/- on its installation. On 1st July, 2016, 1/3rd of machinery purchased on 1st April, 2014 was sold for Rs. 15,000/- and a new machinery at the cost of Rs. 2,00,000/- was purchased on the same date. The company has adopted the method of providing depreciation @15% p.a. on straight line method. Show the machinery account, provision for depreciation account and machinery disposal account for three years ended on 31st March, 2015 to 31st March 2017

Posted by Neha Khan 2 years, 5 months ago

ICSE & ISC > Class 11 > Accountancy

0 answers

ANSWER

Profit Earned by proprietor :

Posted by Krishna G 3 years, 5 months ago

ICSE & ISC > Class 11 > Accountancy

0 answers

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Cash at bank :

Posted by Krishna G 3 years, 5 months ago

ICSE & ISC > Class 11 > Accountancy

1 answers

Anshika Pal 3 months ago

bank account debit .To cash A/C

1Thank You

ANSWER

Purchased from the bank a draft for Rs 1,800 (banker commission being Rs. 5) and sent to imran

Posted by Sumbel Arshad 3 years, 5 months ago

ICSE & ISC > Class 11 > Accountancy

0 answers

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thtee cupboards at the rate of₹2400each are purchase from Ashwin Furniture Mart .Credit bill no.67

Posted by Nandani Patel 3 years, 6 months ago

ICSE & ISC > Class 11 > Accountancy

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On the interstate sale of courts which account is credit

Posted by Aayush Jain 3 years, 8 months ago

ICSE & ISC > Class 11 > Accountancy

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Is accounting a science

Posted by Gurmit Singh 3 years, 10 months ago

ICSE & ISC > Class 11 > Accountancy

1 answers

Yogita Ingle 3 years, 10 months ago

Accounting as Science: Science is an organised body of knowledge based on certain basic principles. Therefore, accounting is also a science as it is an organised body of knowledge based on certain accounting principles.

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Changing the whole cost of the asset in the first year itself is not correct. Why?

Posted by Sindhuja R Subash 3 years, 11 months ago

ICSE & ISC > Class 11 > Accountancy

1 answers

Bikash Dubey 3 years, 10 months ago

As asset( fined assets not current assets) is being used for more than one year and its abide by going concern concept.

1Thank You

ANSWER

Changing the whole cost of asset in 1st year itself is not correct.why

Posted by Sindhuja R Subash 3 years, 11 months ago

ICSE & ISC > Class 11 > Accountancy

2 answers

Sindhuja R Subash 3 years, 11 months ago

Binary imp

2Thank You

Sindhuja R Subash 3 years, 11 months ago

Answer

1Thank You

ANSWER

What is capital

Posted by Sujit Kumar 4 years ago

ICSE & ISC > Class 11 > Accountancy

1 answers

Sia ? 2 years, 11 months ago

In economics, capital consists of human-created assets that can enhance one's power to perform economically useful work. For example, a stone arrowhead is capital for a hunter-gatherer who can use it as a hunting instrument; similarly, roads are capital for inhabitants of a city.

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Subscription due

Posted by Santosh Thapa 4 years, 1 month ago

ICSE & ISC > Class 11 > Accountancy

0 answers

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I want to know how to make trial balance?

Posted by Ashik Deewana 4 years, 2 months ago

ICSE & ISC > Class 11 > Accountancy

0 answers

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I want to know how to make trial balance sheet

Posted by M. Mohit 4 years, 3 months ago

ICSE & ISC > Class 11 > Accountancy

0 answers

ANSWER

Depreciation

Posted by Nitika Malhotra 4 years, 3 months ago

ICSE & ISC > Class 11 > Accountancy

1 answers

Jyoti Dugar 4 years ago

Depreciation is the decrease in the monetary value of the tangible assets of the company due to use, wear & tear or obsolescence. Such depreciated amount is deducted from the gross profit of the company and is shown as an Indirect expense in the statement of profit and loss a/c of the company.

There are different methods in accounts for depreciation but most common are straight line and written down value.

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8mark questions

Posted by Komban Cvr 4 years, 3 months ago

ICSE & ISC > Class 11 > Accountancy