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If the closing stock is shown in the trial balance, it means___

Accounting equation (A = L + C) always holds good under all circumstances. Explain.
OR
Accounting equation remains intact under all circumstances. Justify the statement with the help of an example.

The annual depreciation charged under _______ method remains fixed during the life of asset, while it diminishes every year in ______ method

In work book question no. 15 do n't understand

India signed the protocol amending the Double Taxation Avoidance Agreement (DTAA) with Mauritius. With reference this which of the following statements is/are correct?

Distinguish between journal and ledger?

Give the similarities of cash book with a ledger.

The main object of providing depreciation is ___

What will be the effect on trial balance if Rs. 2,000 received as rent and correctly entered in the cash book is not posted to rent account ?

On 1st January, 2016, Shieba sold goods to Vishal for Rs. 10,000 and drew upon him bills of exchange of 2 months. Vishal accepted the bill and returned it to Shieba. On the date of maturity the bills was dishonoured by Vishal. Record the necessary entries in all the cases listed below in the books of Shieba and Vishal.

(i) When the bill is kept by Shieba till its maturity.

(ii) When the bill is discounted by Shieba for Rs. 200.

Noting charges were Rs. 100.

In case of retirement, rebate is a revenue for ?

The first step of accounting process is :

What is the basic objective of accounting?

Which of the following account will be credited incase of increase in balances of respective accounts?

Enumerate the steps to ascertain the correct cash book balance.

Briefly explain the term 'favourable balance as per cash book'.

A bill of Rs.5000 is discounted with the banker for Rs.4750. The bill is dishonored at maturity. The drawee pays 60% of his acceptance. What is the amount of bad debts?

Rent due but not paid is to be treated as _______

Give four examples each of 'revenue reserve' and 'capital reserve'.

What integrity constraints are specified on database schema? Why each is considered important?

While preparing bank reconciliation statement, if balance as per pass book is starting point, direct deposits in bank should be:

Expenditure incurred on erecting machinery is ________________.

Which of the following is an example of indirect expenditure?

Rectify the following entries :

(i) Purchase of building was passed through purchase book amounting to Rs 80,000.

(ii) Wages paid for construction of building was debited to wages account with Rs 20,000.

(iii) Expenses of erecting of a shed amounting to Rs 3,000 were debited to the expenses account.

(iv) Wages paid for extension of building was debited to wages account amounting to Rs 7,000.

(v) Repair to second hand car purchased was debited to repairs account with 18,000

(vi) Material purchased for construction of building was debited to purchase account amounting to Rs 28,000.

An amount of Rs 20,000 due from Mukesh was written off as bad debt in the previous year is now been recovered. It has been credited to Mukesh`s account. Is this correct? If no, which account should have been credited.

The discount that is given to speed up payments from the customers is called as _________.

(Cost of the asset minus scrap value)/ Life of the asset is the formula of ___

Give the similarities of cash book with a journal.

The system that provides the information necessary to make decisions and manage the organisation effectively is called as ______.

Capital =

Which of the following accounts shall be debited in the books of drawee at the time of payment?

What is working capital?

Prepare Proper subsidiary books and post them to the ledger from the following transactions for the month of February 2011

$\begin{array}{ccc}& & \text{Rs}\\ 1& \text{Goods sold to Sachin}& 5,000\\ 4& \text{Purchase from Kushal Traders}& 2,480\\ 6& \text{Sold goods to Manish Traders}& 2,100\\ 7& \text{Sachin returned goods}& 600\\ 8& \text{Return to Kushal Traders}& 280\\ 10& \text{Sold to Mukesh}& 3,300\\ 14& \text{Purchased from Kunal Traders}& 5,200\\ 15& \text{Furniture purchased from Tarun}& 3,200\\ 17& \text{Bought from Naresh}& 4,060\\ 20& \text{Return to Kunal Traders}& 200\\ 22& \text{Return to inwards from Mukesh}& 250\\ 24& \text{purchased goods from Kirit}\&\text{Co for list price}& 5,700\\ & \text{less 10}\%\text{trade discount}& \\ 25& \text{Sold to Shri Chand goods}& 6,600\\ & \text{less}5\%\text{trade discount}& \\ 26& \text{Sold to Ramesh Brothers}& 4,000\\ 28& \text{Return outwards to Kirit}\&\text{Co}& \\ & \text{less}\%\text{trade discount}& 1,000\\ 28& \text{Ramesh Brothers returned goods}& 500\end{array}$

Human resources will not appear in the balance sheet according to ___ concept.

Which of the following is not an Asset of an enterprise?

Explain the accrual concept with the help of an example.

With the help of an example, briefly state the meaning of parameter queries.

Which one of the following is the similarity between public and private finance?

Mr. Sahoo started business investing Rs 10,00,000. He purchased goods for Rs 4,00,000, Furniture for Rs 2,00,000 and plant and machinery of Rs3 ,00,000 & Rs 1,00,000 remains in hand. What shall be the amount of assets of the business in total?

Credit sales to Mohan Rs. 1,000 were recorded as Rs. 10,000 in the sales book. To rectify the same, the sales account shall be ___

Specialized Journals are more adequate for which type of business?

Suppose asset is purchased for Rs 150000, Accumulated depreciation on SLM is rs. 75000. and asset is now sold for Rs. 70000. calculate gain or loss?

The party which is ordered to pay the amount of bill of exchange is called :

Find out the appropriate word which fits the 4th blank.

Which of the following comes under assets?

What is meant by a Cash Memo?

Distinguish between cash discount and trade discount.

If the total liabilities of a business decrease by Rs 5000 what will be the effect on total assets? (assuming the amount of capital remain same).

P draws a bill for Rs 2,000 on Q who accepts and returns it to P on the same date. P sent the bill to his banker for collection. On the due date the bill is dishonoured by Q. Which account shall be debited in drawer`s books?

Which of the following is not a reason for providing depreciation?