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Discount received is a ___ .

Opening capital = Rs. 2,00,000 , Closing capital = Rs. 3,00,000 , Profit for the year = Rs. 1,20,000 , Additional capital introduced during the year = Rs. 1,60,000. What shall be the drawings ?

___is a method of depreciation, in which the cost of the asset is spread uniformly over the life years by writing off a fixed amount every year, where as in ___ method of depreciation, a fixed rate of depreciation is charged on the book value of the asset over its useful life.

Mr. Piyush has started a new business. He will be getting a business credit card. He will use this credit card to make purchases for his business. This credit card is a type of:

What is fund based accounting?

Allocating more funds in the budget for primary education will substantially improve the quality of education

Favourable bank balance means:

“You neither travelled to the past nor the future. You were in the present experiencing a different world.”

A company bought machinery for Rs. 10000 and depreciation rate is 10% on SLM. Which of the following is correct?

What is a suspense account? Is it necessary that a suspense account will balance off after rectification of the errors detected by the accountant? If not, then what happens to the balance still remaining in suspense account?

What do you understand by relationship type? How is it different from relationship instance and relationship set?

Differentiate between accrual basis and cash basis of accounting.

Identify the entity that can be formed using all the given pictures.

When goods are purchased on credit, what will be the impact in accounting equation?

Is trial balance an account or a statement ?

An error involving an excess credit to an account shall be revealed by the Trial Balance. Is this statement correct?

Calculate gross profit, operating profit and net profit from the following.
$\begin{array}{cccc}\text{Particulars}& \text{Amt (Rs.)}& \text{Particulars}& \text{Amt (Rs.)}\\ \text{Opening Stock}& 4,00,000& \text{Commission Paid}& 4,800\\ \text{Purchases}& 38,00,000& \text{Commission Received}& 12,000\\ \text{Sales}& 50,00,000& \text{Travelling Expenses}& 9,600\\ \text{Purchases Return}& 1,40,000& \text{Office Expenses}& 7,000\\ \text{Sales Return}& 2,00,000& \text{Interest on Long-term Loans}& 44,000\\ \text{Wages}& 1,60,000& \text{Dividend on Investments}& 5,600\\ \text{Advertising}& 24,000& \text{Printing and Stationery}& 7,200\\ \text{Salaries}& 3,56,000& \text{Loss on Sale of Machinery}& 70,000\\ \text{Rent and Taxes}& 1,24,000& \text{Carriage Outwards}& 2,800\\ \text{Lighting}& 30,000& \text{Loss by Theft}& 50,200\\ & & \text{Gain on Sale of Building}& 1,00,000\end{array}$

Closing stock was valued at Rs. 5,00,000

What is the correct formula for calculation of closing stock?

Depreciation on fixed assets is _________.

Prepare a Trading and Profit and loss account for year ending December 31, 2010 from the balances extracted to M/s Rahul Sons. Also prepare a balance sheet at the end of the year.

$\begin{array}{cccc}\text{Account Title}& \text{Amt. (Rs.)}& \text{Account Title}& \text{Amt.(Rs)}\\ \text{Opening Stock}& 50,000& \text{Sales}& 1,80,000\\ \text{Wages}& 3,000& \text{Purchase Return}& 2,000\\ \text{Salary}& 8,000& \text{Discount Received}& 500\\ \text{Purchase}& 1,75,000& \text{Provision for Bad Debts}& 2,500\\ \text{Sales Return}& 3,000& \text{Capital}& 3,00,000\\ \text{Sundry Debtors}& 82,000& \text{Bills Payable}& 22,000\\ \text{Discount Allowed}& 1,000& \text{Commission Received}& 4,000\\ \text{Insurance}& 3,200& \text{Rent}& 6,000\\ \text{Rent, Rates and Taxes}& 4,300& \text{Loan}& 34,800\\ \text{Fixtures and Fittings}& 20,000& & \\ \text{Trade Expenses}& 1,500& & \\ \text{Bad Debts}& 2,000& & \\ \text{Drawings}& 32,000& & \\ \text{Repair and Renewals}& 1,600& & \\ \text{Travelling Expenses}& 4,200& & \\ \text{Postage}& 300& & \\ \text{Telegram Expenses}& 200& & \\ \text{Legal Fees}& 500& & \\ \text{Bills Receivable}& 50,000& & \\ \text{Building}& 1,10,000& & \\ & \underset{–}{\underset{–}{\overline{5,51,800}}}& & \underset{–}{\underset{–}{\overline{5,51,800}}}\\ & & & \end{array}$

Adjustments:

1. Commission received in advance Rs. 1,000.

2. Rent received Rs. 2,000.

3. Salary outstanding Rs. 1,000 and insurance prepaid Rs. 800.

4. Further bad debts Rs. 1,000 and provision for bad debts 5% on debtors and discount on debtors 2%.

5. Closing stock Rs. 32,000.

6. Depreciation on building 6% pa.

Locate instances of irony in the story.

Opening balance of cash account Rs. 1,00,000. Expenditure paid Rs. 30,000. Amount received from debtors Rs. 80,000. What is the closing cash balance.

Which of the following accounts is not an Asset?

The functions performed by money in assisting various economic agents in making economic decisions are called

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शब्दा:
लेखनीया:-

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Kusumtai bought $80$ cookers at $Rs.700$ each. Transport cost her $Rs.1280.$ If she wants a profit of $Rs.18000,$ what should be the selling price per cooker?

Tell what
property allows you to compute.

The table with summary of all account balances is called as ________

A bill of exchange of Rs. 2000 is endorsed in favour of Krishan a creditor of Rs.2100 in full settlement. By what amount Krishan will be debited?

Explain in brief, the limitations of financial accounting.

How are
the total revenue of a firm, market price, and the quantity sold by
that firm related to each other?

When noting charges of Rs 100 is paid by the endorsee, what will be the impact in the books of drawer?

What is meant by maturity of a bill of exchange?

If opening capital is Rs. 16,500, closing capital is Rs. 11,350 and drawings were Rs. 3,300, what is the amount of profit or loss made during the year?

Compensating errors do not effect the trial balance. Is the statement correct?

Distinguish between Cash Discount and Trade Discount?

Differentiate
between declarative and procedural memories?