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From the following particulars, find balance as per pass book as at March 31, 2018.
(i) Credit balance as per cash book Rs 4,700
(ii) Cheque issued but not presented for payment Rs 1,200
(iii) Cheque deposited but not collected Rs 2,400
(iv) Bank charges of Rs 150

Farkhanda Jabeen Ltd. receives a cheque for Rs. 100, records it in cash book and deposits it on the same day. A statement sent by the bank that day does not show Rs. 100. How is this shown on the bank reconciliation statement if starting point is pass book?

The process of refining a database design to eliminate duplicate or redundant data is called _______________.

Name the accounting software which may be customised to meet the special requirement of the user.

If any amount is directly deposited into the bank, then

From the following trial balance of Mr. A Lal, prepare Trading and Profit and Loss account and Balance sheet as on March 31, 2011.
$\begin{array}{ccc}\text{Account Title}& \text{Amt. (Dr.)}& \text{Amt. (Cr.)}\\ \text{Stock as on April 1, 2010}& 16,000& \\ \text{Purchase and Sales}& 67,600& 1,12,000\\ \text{Return Inwards and Outwards}& 4,600& 3,200\\ \text{Carriage Inwards}& 1,400& \\ \text{General Expenses}& 2,400& \\ \text{Bad Debts}& 600& \\ \text{Discount Received}& & 1,400\\ \text{Bank Overdraft}& & 10,000\\ \text{Interest on Bank Overdraft}& 600& \\ \text{Commission Received}& & 1,800\\ \text{Insurance and Taxes}& 4,000& \\ \text{Scooter Expenses}& 200& \\ \text{Salaries}& 8,800& \\ \text{Cash in Hand}& 4,000& \\ \text{Scooter}& 8,000& \\ \text{Furniture}& 5,200& \\ \text{Building}& 65,000& \\ \text{Debtors and Creditors}& 6,000& 16,000\\ \text{Capital}& & 50,000\end{array}$

Closing Stock Rs. 15,000.

From the following list of balances extracted from the books of Shri Sahiran Prepare a trial balance as on 31st March, 2016.

$\begin{array}{cccc}\text{Name of Accounts}& \text{Amt (Rs.)}& \text{Name of Accounts}& \text{Amt (Rs.)}\\ \text{Stork on 1st April,2015}& 22,000& \text{Discount Received}& 20,000\\ \text{Purchases}& 2,57,500& \text{Long-term Borrowings}& 1,70,000\\ \text{Sales}& 3,61,800& \text{Provision for Doubtful Debts}& 5,000\\ \text{Carriage Inwards}& 300& \text{Provision for Depreciation on Machinery}& 5,000\\ \text{Carriage Outwards}& 120& \text{Bad Debts}& 600\\ \text{Return Inwards}& 23,500& \text{Stationary}& 420\\ \text{Return Outwards}& 2,000& \text{Insurance}& 340\\ \text{Debtors}& 32,000& \text{Wages and Salaries}& 18,500\\ \text{Creditors}& 17,400& \text{Investment}& 30,000\\ \text{Leasehold Premises}& 1,60,000& \text{Interest on Ivestment}& 2,700\\ \text{Equipment}& 2,00,000& \text{Cash and Bank Balance}& 1,240\\ \text{Repairs to Equipment}& 2,000& \text{Premises}& 60,000\\ \text{Depreciation}& 8,000& \text{Funiture and Fixiures}& 14,000\\ \text{Bills Receivable}& 840& \text{Miscellaneous Expenses}& 520\\ \text{Bills Payable}& 480& \text{Miscellaneous Income}& 140\\ \text{Bank Overdraft}& 1,50,000& \text{Loan from Axis Bank}& 25,000\\ \text{Interest on Overdraft}& 640& \text{Interest on above Loan}& 3,000\\ \text{Purchases Return}& 50,000& \text{Capital}& 70,000\\ \text{Discount Allowed}& 4,000& \text{Proprietor's Withdrawals (Drawings)}& 6,000\\ \text{Salaries}& 10,000& \text{Computers}& 9,000\\ & & \text{Goodwill}& 15,000\\ & & \text{Stock on 31st March, 2016 (not adjusted)}& 31,000\end{array}$

Which of the following is incorrect with regards to special journals?

Company XYZ did some extraordinary repairs of Rs 50,000 (e.g., changed engines) on its delivery trucks. These repairs extended the useful life of the trucks. The company recorded the same in its repair account. The correct rectifying entry for the same would be :

Explain Going Concern Assumption and Matching Concept.

Pick the correctly punctuated form of the given sentence.

Yes I have invested in this company. Said Puneet

In case of Dishonor of bill when the bill is endorsed, who should get the bill noted?

Following is the trial balance of J Subramanium on 31st March, 2016. Prepare the trading and profit and loss account for the year ended 31st March, 2016.

Trial Balance
as on 31st March, 2016
$\begin{array}{ccc}\text{Name of Account}& \text{Debit (Rs.)}& \text{Credit (Rs.)}\\ \text{Capital A/c}& & 30,000\\ \text{Stock A/C (1st April, 2015)}& 6,000& \\ \text{Cash at Bank}& 3,000& \\ \text{Cash in Hand}& 1,320& \\ \text{Machinery A/c}& 18,000& \\ \text{Furniture and Fittings A/c}& 4,080& \\ \text{Purchases A/c}& 45,000& \\ \text{Wages A/c}& 30,000& \\ \text{Fuel and Power A/c}& 9,000& \\ \text{Factory Lighting A/c}& 600& \\ \text{Salaries A/c}& 21,000& \\ \text{Discount Allowed A/c}& 1,500& \\ \text{Discount Received A/c}& & 900\\ \text{Advertising A/c}& 15,000& \\ \text{Sundry Office Expenses A/c}& 12,000& \\ \text{Sales A/c}& & 1,50,000\\ \text{Sundry Debtors}& 25,500& \\ \text{Sundry Creditors}& & 11,100\\ & \overline{\underset{–}{\underset{–}{1,92,000}}}& \overline{\underset{–}{\underset{–}{1,92,000}}}\end{array}$

Closing stock was valued at Rs. 8,100

At the time of endorsement, the drawer credits ?

What are the effects of depreciation on profit and loss account and balance sheet?

What is the shape of MR curve in monopoly?

Abdulla sold goods to Tahir on January 17, 2011 for Rs. 18,000. He drew a bill of exchange for the same amount on Tahir for 45 days. On the same date, Tahir accepted the bill and returned it to abdulla. On the due date, Abdulla presented the bill to Tahir which was dishonoured. Abdulla paid Rs. 40 as nothing charges. Five days after the dishonour of his acceptance, Tahir settled his debt by making a payment of Rs. 18,700 including interest and noting chares.
Record the necessary Journal entries in the books of abdulla and Tahir. Also prepare Tahir's Account in the books of Abdulla and Abdulla's Account in the books of Tahir.

________ is a charge against profits

Profit and Loss account is based on:

Record necessary journal entries to record the following unrecorded assets and liabilities in the books of Paras and Priya:

1. There was an old furniture in the firm which had been written-off completely in the books. This was sold for Rs. 3,000.

2. Ashish, an old customer whose account for Rs. 1,000 was written-off as bad in the previous year, paid 60$\%$, of the amount.

3. Paras agreed to takeover the firm's goodwill (not recorded in the books of the firm), at a valuation of Rs. 30,000.

4. There was an old typewriter which had been written-off completely from the books. It was estimated to realise Rs. 400. It was taken away by Priya at an estimated price less 25$\%$.

5. There were 100 shares of Rs. 10 each in Star Limited acquired at a cost of Rs. 2,000 which had been written-off completely from the books.

These shares are valued Rs. 6 each and divided among the partners in their profit sharing ratio.

Credit purchases of Plant & Machinery is recorded in which of the following specialized journals?

Which of the following statement is incorrect?

Mr. A has a Furniture shop. Which of the following is considered as goods of his shop?

When a liability is reduced or decreased, it is recorded on ___ in the journal.

In incomplete records, the information and records maintained are:

Distinguish between departmental stores and multiple shops on the basis of :

(a) Location (b) Credit facilities

(c) Services offered (d) Class of customers

(e) Pricing

A car was purchased for Rs. 55,000.
Its residual value was estimated to be Rs. 5,000 with useful life of 5 years.
What will be the depreciation expense?

The cash book shows a bank balance of Rs. 8,000. On comparing the cash book with passbook the following discrepancies were noted:
(a) Cheque deposited in bank but not credited Rs. 3,000
(b) Cheque issued but not yet present for payment Rs. 1,500
(c) Insurance premium paid by the bank Rs. 1,500
(d) Bank interest credit by the bank Rs. 400
(e) Bank charges Rs. 100
(f) Directly deposited by a customer Rs. 4,000

Find the balance as per pass book.

On April 1, 2000, Bajrang Marbles purchased a Machine for Rs 2,80,000 and spent Rs 10,000 on its carriage and Rs 10,000 on its installation. It is estimated that its working life is 10 years and after 10 years its scrap value will be Rs 20,000.

(a) Prepare Machine account and Depreciation account for the first four years by providing depreciation on the straight-line method. Accounts are closed on March 31 st every year.

(b) Prepare Machine account, Depreciation account and Provision for depreciation account (or accumulated depreciation account) for the first four years by providing depreciation using the straight-line method. Accounts are closed on March 31 st every year.

At the year-end, the interest on drawings ____ the capital balance & the interest on capital ______ the capital balance.

Today is 31st July'17, Arun has started his business from 1st April'17. He has sold computers for the period from April to July and he has paid rent from April to August. For what period would the revenue and expense be recorded?

State the relationship between information and decision.

There were standing instructions given to bank for payment of Rs 1,00,000 per month for 5 months to a supplier. The bank paid the supplier Rs 1,00,000 in the 6th month also which the supplier returned after 15 days in the same month. How should this be treated in the bank reconciliation statement?

Opening inventory + Net purchases =

Define business objectives.

Q70) SBI Life Insurance launched Smart Humsafar, a unique plan which offers multiple benefits of savings and insurance cover for husband and wife under a single policy. Smart Humsafar Plan highlights:

1) A Joint life insurance cum savings plan wherein you can take insurance cover for yourself and your spouse under a single policy.

2) Provides financial protection in the event of death of either or both the lives assured

3) Pays a maturity amount on survival of one or both the lives assured at the end of the policy term

4) Benefits also include premium waiver in case of death of any one of the lives assured for in force policies

5) Tax benefits as per prevailing norms under the Income Tax Act, 1961

Which of the above statement(s) is/are correct?

What is Noting of a bill of exchange?

Distinguish between 'Memorandum of Association' and 'Articles of Association.'

Write any three advantages of Accounting.

Explain Historical cost principle and consistency Assumption of accounting.

Decrease in capital will be shown on _______ side of capital account.

When favourable balance as per cash book is the starting point, wrong debit by the bank to the firm will be:

Drawings Rs 15,000, profit for the year Rs 25,000, closing capital Rs 70,000. Calculate the opening capital.

What do you understand by accounting information?

During a festive season, a microwave oven whose list price is Rs 3250 is available at Rs 2470 after a discount in a particular shop.

What is the discount percent offered by the shopkeeper on the microwave oven?

Explain the types of Life Insurance Policies?

Explain the full disclosure principle. Why should information be fully disclosed?

Payment of expenses in cash will ___ the assets

Accrued Incomes are considered as ___