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Which of the following types of errors are not detected during bank reconciliation?

Identify which account is an expense?

The total amounts of two sides of accounting equation are always ___ because they represent two different views of the same thing.

Ram owes Rs 1,00,000 to Shyam Trading Company. He has become bankrupt & has shown that he cannot repay the money to Shyam Trading company. Which of the following is correct in this situation?

Show the treatment of prepaid expenses, depreciation, closing stock at the time of preparation of final accounts-

(a) When given inside the trial balance.

(b) When given outside the trial balance.

Explain the meaning of gain and profit. Distinguish between these two terms.

Accounting provides information about the profitability and financial soundness of a concern. In addition,it provides other valuable information also. However,accounting has certain limitations. Explain any three such limitations.

From the below mentioned details, find the amount of net profit:

$\begin{array}{cc}\text{Particulars}& \text{Amount}\\ \text{Gross profit}& 52,000\\ \text{Non-core expenses}& 25,000\\ \text{Non-core income}& 8,000\end{array}$

What are the guidelines for the construction of a good table?

If a repairs expenditure has been carried on a machine & it has been debited to Machinery account, which account shall be debited to rectify the same?

What is the journal entry in bank books for the transaction of withdrawing Rs 1200 from the bank by a customer?

The unit of correlation coefficient between height in feet and weight in kgs is

(a) kg/feet

(b) percentage

(c) non-existent

Rs 5,000 deposited in bank account was entered twice in the cash book. Identify the correct adjustment in cash book.

The process of accounting starts with _______ and ends with _______.

Which of the following is not a business transaction?

Cash , bank & accounts receivables ledger in the books will generally have a ________ Balance.

The cost of the asset is Rs. 60,000 and depreciated at 12% p.a. using the written down method. At the end of three years, it will have a net book value of ______

On discounting of a bill of exchange with the bank, the amount of discount is borne by:

Name the concept explained in the below statement.

Everything a firm owns, it also owes out to someone.

Some business expenditures are incurred for reasons that don’t involve normal business operations. These are _____

An error involving short debit in an account is rectified by corresponding ___ In the same account by the amount that is in short.

Withdrawals of cash from bank by the proprietor for his personal use should be debited to ?

Is it correct that individual accounts of customers is debited by the respective amount and the total of the sales book is posted to the credit side of the sales account in the general ledger ?

The process of accounting involves recording of :

On checking Ram’s Cash Book with the Bank statement of his overdraft current account for the month of November, 2012, you find the following:

(i) Cash Book showed an overdraft of Rs 45,000.
(ii) The payment side of the Cash Book had been under cast by Rs 1,500.
(iii) A cheque for Rs 7,500 drawn on his saving account has been shown as drawn on his current account.
(iv) Cheques amounting to Rs 70,000 drawn and entered in the Cash Book had not yet been presented.
(v) Cheques amounting to Rs 60,000 sent to the bank for collection,though entered in the Cash Book,had not been credited by the bank.
(vi) Bank charges of Rs 750 as per Bank Statement had not been taken into the Cash Book.
(vii) Dividends of Rs 25,000 had been paid direct into the bank and not entered in the Cash Book. You are required to prepare a Bank Reconciliation Statement on 30th November, 2012.

Or

Enter the following transactions in cash book.

$\begin{array}{ccc}2013& & \text{Rs}\\ \text{Jan.01}& \text{Cash in hand}& 1,500\\ \text{Jan.05}& \text{Paid to Ram}& 300\\ \text{Jan.05}& \text{Discount allowed by him}& 10\\ \text{Jan.08}& \text{Purchased goods}& 400\\ \text{Jan.10}& \text{Received from R. Gupta}& 980\\ \text{Jan.10}& \text{Discount allowed}& 20\\ \text{Jan.16}& \text{Sold goods}& 400\\ \text{Jan.21}& \text{Paid to S. Sharma}& 295\\ \text{Jan.21}& \text{Discount received}& 5\\ \text{Jan.25}& \text{Paid wages}& 50\\ \text{Jan.31}& \text{Paid to Narayan in full settlement of his account which shows a credit}& \\ & \text{balance Rs 400}& 390\end{array}$

Rent paid Rs. 2,000 was wrongly shown as payment to landlord in the cash book. The effect of this is ___

When a business compares the balance of its cash book with the balance shown by the bank passbook, there is often a difference, which is caused by the time gap in recording the transactions relating either to payments or receipts. It is known as ___.

Define Smart Card and its utility.

Which of the following is not correct with regards to ledger ?

Ananya withdrew Rs. 2,000 per month for personal use, recording each transaction as a debit to her drawing account and a credit to her cash account. The journal entry closing the drawing account requires a credit to _______ account & debit to _______ account.

Mohan sold goods to Suraj for Rs. 20000 and draw a bill upon Suraj for the same amount which is payable after 4 months. Mohan retain the bill for 4 months .Who is the drawee?

Income received in advance but not earned will appear in the balance sheet as ___.

Why is it important to adopt a consistent basis for the preparation of financial statements? Explain.

Bank has credited an interest of Rs 1,200 in the pass book & charged a bank charge of Rs 100 for issue of debit card. Which of the following is true in this regard?

Give the performa of a Bill of Exchange.

Is the balance of petty cash book an asset or income?

Bank balance as per cash book is Rs.12,000, taking into account cheques worth Rs 5,000 issued to suppliers which were not reflected in the bank statement. The balance as per bank statement shall be:

Describe in short the effects of Government move on ban as legal lender money of old 500 and 1000 Rupee hole on the small business as you observed in your surroundings.

On 13.07.2018, X drew a bill on Y for Rs 25000 for 30 days. The due date of the bill will be?

Explain any three internal users of Accounting Information.

What is a Statement of Affairs?

Distinguish between cash basis and accrual basis of accounting.

Which account shall be debited for issue of cheque to a regular supplier of our company?

A piece of machinery worth 1,00,000 is charged depreciation (Straight line method) at 10%. In the journal entry for transfer of depreciaton to profit or loss account, which account shall be credited ?

What is the first step of accounting process ?

Credit note number is updated in _______ books

Why are the rules of debit and credit same for both liability and capital?

Which of the following is an investment in human resources?

How would you show the following items in a Company's Balance Sheet as at 31st March, 2017 :
$\begin{array}{cc}\text{8 \% Debentures}& 5,00,000\\ \text{Trade Payables}& 1,50,000\\ \text{Provision for Taxation}& 1,00,000\\ \text{Proposed Dividend}& 60,000\end{array}$