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Mr. A has bought goods worth Rs 1,00,000 from Mr. B on credit. Which of the following is true?

State what you understand by accounting reports.

In bill of exchange, drawer is ?

Name the software, which creates and controls a connection between a computer and a server.

Prove that the accounting equation is satisfied in all the following transactions of Sudhir.
(i) Started business with cash Rs. 1,00,000 and goods Rs. 40,000.
(ii) Bought goods on cash Rs. 30,000 and on credit for Rs. 20,000
(iii) Goods costing Rs. 48,000 sold at a profit of $33\frac{1}{3}$ to Pranav. Half the payment received in cash.
(iv) Purchased furniture for office use Rs. 12,000 and for household use Rs. 8,000.
(v) Received cash from Pranav (customer) Rs. 25,500 and allowed him a discount Rs. 500.
(vi) Creditors of Rs. 5,000 accepted Rs. 4,000 and allowed a discount of Rs. 1,000.

Credit sales can be obtained by preparing:

Examine the pieces of conversation in the story. How do they reflect the world view of each of the speakers?

On March 15, 2010 Ramesh sold goods for Rs. 8,000 to Deepak on credit. Deepak accepted a bill of exchange drawn upon him by Ramesh payable after three months. On April, 15 Ramesh endorsed the bill in favour of his creditor Poonam in full settlement of her debt of Rs. 8,250. On May 15, Poonam discounted the bill with her bank 12% p.a. On the due date Deepak met the bill. Record the necessary journal entries in the books of Ramesh.

If a proprietor buys stock of Rs 10,000 on credit, which of the following items of accounting equation shall be affected?

What do you understand by income received in advance?

Ram had borrowed a loan of Rs 1,00,000 from his friend to whom he used to repay Rs 20,000 on the 10th of each month & simultaneously he used to put this entry into the cash book of his firm. His friend was out of country in the month of August & he forgot to put the cheque into his bank. Which of the following shall be true?

Salaries paid would be charged to which account - trading account or profit and loss account?

By providing storage facilities which utility is created by warehouse?

Nikhil sold goods for Rs. 23,000 to akhil on December 1, 2010. He drew upon Akhil a bill of exchange for the same amount payable after 2 months. Akhil accepted the bill and sent it back to Nikhil. Nikhil Discounted the bill immediately with his bank at the rate of 12% per annum. ON the due date, Akhil dishonoured the bill of exchhange and the bank paid Rs. 100 as noting charges. Akhil requested Nikhil to draw a new bill upon him with interest at the rate of 10% per annum which he agreed. The New bill was payable after two months. A week before the maturity of the second bill Akhil requested Nikhil to cancel the second bill. He further requested to accept Rs. 10,000 in cash immediately and drew a third bill upon him including interest of Rs 500 Nikhil agreed to Akhil request. The third bill was payable after one month. Akhil met the third bill on its maturity. Record the necessary Journal entries in the books of Nikhil and Akhil and also prepare Akhil's account in the books of Nikhil and Nikhil's account in the books of Akhil.

Ritesh and Naina were in need of funds temporarily. On August 1, 2010, Ritesh drew upon Naina a bill for Rs. 12,000 for 4 months. Naina accepted the bill and returned to Ritesh. Ritesh discounted the bill at the rate of 8% per annum. Half amount of the discounted bill remitted to Naina. On the due date, Ritesh sent the required sum to Naina, who met the bill.

Journalise the transaction in the books of both the parties.

Prepare specimen of a Balance Sheet in liquidity order with imaginary figures.

A vehicle acquired for Rs 60,000 on 1st September 2005 and depreciated at 20% on WDV was sold for Rs. 4,000 on 31st March 2011. Expenses of disposal was Rs. 200.
What is the gain or loss on disposal?

Examine the structure of the short story 'Adventure of the Three Garridebs' with the help of this framework

• 
  

  The introduction of the story

  
  



• 
  

  Introduction of the topic of the story

  
  



• 
  

  Introduction of the main characters in the plot

  
  



• 
  

  Development of the plot

  
  



• 
  

  Climax

  
  



• 
  

  Resolution of the mystery

  
  

Why is ability of doctor not considered wealth because it lack

List any five users who have the indirect interest in accounting.

What is another name for incomes received in advance?

Which of the following method is to be used, when the repair cost for assets are high in later period?

Trade discount is shown in the journal entry. This statement is ___ .

Loan taken from bank comes under the category ______

What do you mean by programmed or casual reports?

Trading & Profit & loss account and balance sheet is prepared from:

Suppose a consumer wants to consume two goods which are available only in integer units. The two goods are equally priced at Rs. 10 and the consumer's income is Rs. 40.

(i) Write down all the bundles that are available to the consumer.

(ii) Among the bundles that are available to the consumer, identify those which cost her exactly Rs. 40.

Raghav & Co have two bank accounts, Account No I and Account No II. From the following particulars relating to Account No I, find out the balance on that account of December 31, 2010 according to the cash book of the firm.

(i) Cheques paid into bank prior to December 31, 2010. but not credited for Rs. 10,000.

(ii) Transfer of funds from Account No II to Account No I recorded by the bank, on December 31, 2010 but entered in the cash book after that date for Rs. 8,000.

(iii) Cheques issued prior to December 31, 2010 but not presented until after that date for Rs. 7,429.

(iv) Bank charges debited by bank not entered in the cash book for Rs. 200.

(v) Interest debited by the bank not entered in the cash book, Rs. 580.

(vi) Overdraft as per pass book, Rs. 18,990.

Why did the author finally give up on his watch?

The owner contributes his/her personal truck to the business. On one hand, the assets of the business shall increase along with an equal increase in ___

"तब माँ कोई कर न सकेगा

अपने ऊपर अत्याचार।"

कविता की इस पंक्ति में किस अत्याचार की बात की जा रही है? वे किस तरह के अत्याचार करते थे?

At the year-end, the total interest on drawings is ____ in the profit & loss account?

The following information has been extracted from the trial balance of M/s Randhir Transport Corporation.

$\begin{array}{cccc}\text{Debit Balances}& \text{Amount}& \text{Credit Balances}& \text{Amount}\\ & \text{(Rs)}& & \text{(Rs)}\\ \text{Opening Stock}& 40,000& \text{Capital}& 2,70,000\\ \text{Rent}& 2,000& \text{Creditors}& 50,000\\ \text{Plant and Machinery}& 1,20,000& \text{Bills payable}& 50,000\\ \text{Land and Buildings}& 2,55,000& \text{Loan}& 1,10,000\\ \text{Power}& 3,500& \text{Discount}& 1,500\\ \text{Purchases}& 75,000& \text{Sales}& 1,50,000\\ \text{Sales Return}& 2,500& \text{Provision for bad debts}& 1,000\\ \text{Telegram and Postage}& 400& \text{General Expenses}& 50,000\\ \text{Wages}& 4,500& & \\ \text{Salary}& 2,500& & \\ \text{Insurance}& 3,200& & \\ \text{Discount}& 1,000& & \\ \text{Repair and Renewals}& 2,000& & \\ \text{Legal Charges}& 700& & \\ \text{Trade taxes}& 1,200& & \\ \text{Debtors}& 75,000& & \\ \text{Investment}& 65,000& & \\ \text{Bad debts}& 2,000& & \\ \text{Trade expenses}& 4,500& & \\ \text{Commission}& 1,250& & \\ \text{Travelling expenses}& 1,230& & \\ \text{Drawings}& 20,020& & \\ & \overline{\underset{–}{\underset{–}{6,82,500}}}& & \overline{\underset{–}{\underset{–}{6,82,500}}}\end{array}$

Adjustments :

1. Closing stock for the year was Rs 35,500.

2. Interest on drawing 6%, Interest on loan 5%, Interest on investments 4%.

Or

Below is given the Trial Balance of Mr. Ram as on 31st December, 2012. You are required to prepare Trading and Profit & Loss Account Sheet as on that date.

$\begin{array}{cccc}\text{Particulars}& \text{Amount}& \text{Particulars}& \text{Amount}\\ & \text{(Rs)}& & \text{(Rs)}\\ \text{Opening Stock}& 42,000& \text{Sales}& 4,10,000\\ \text{Purchases}& 2,00,000& \text{Sundry Creditors}& 20,000\\ \text{Plant}& 60,000& \text{Purchase Return}& 8,000\\ \text{Salaries}& 33,000& \text{Purchase Return}& 8,000\\ \text{Wages}& 44,000& \text{Bank}& 24,000\\ \text{Discount}& 2,000& \text{Capital}& 1,50,000\\ \text{Rent}& 27,500& \text{Interest on Investment's}& 700\\ \text{Furniture(Inclusing Furniture of}& & \text{Special Rebate}& 800\\ \text{Rs 500 Purchased on 1st July,2012)}& 20,000& & \\ \text{Carriage Inward}& 5,800& & \\ \text{Carriage Outward}& 8,200& & \\ \text{Sundry Debtors}& 1,00,000& & \\ \text{Office Expenses}& 6,600& & \\ \text{Cash in Hand}& 5,400& & \\ \text{Investments14}\%p.a.& 10,000& & \\ \text{Insurance(Paid upto 30th April,2013)}& 1,500& & \\ \text{Stock on 31st December,2012}& 60,000& & \\ & \overline{\underset{–}{\underset{–}{6,21,000}}}& & \overline{\underset{–}{\underset{–}{6,21,000}}}\end{array}$

Adjustments :

1. Create a provision for doubtful debts 5% on Debtors and 2% for discount on Debtors.

2. Provide up to date interest on investments.

3. Depreciate Plant by 10% p.a. and Furniture by 20% p.a.

On January 1, 2011, an asset was acquired for Rs30,000. Its useful life was expected to be 10 years and the salvage value is expected to be Rs0. After four years of use, the company realized the asset would be useful for only three more years. (In other words, the total useful life of the asset will be seven years instead of the original 10 years.) The company uses the straight-line method of depreciation. The Depreciation Expense in each of the years 2015, 2016, and 2017 will be Rs___

From the following Balance Sheet and information of Volvo Ltd., prepare Cash Flow Statement:

Notes to Accounts

Rent receivable (given in trial balance) is an item of:

When loan of Rs.10,000 is taken the from bank, what will be the impact in accounting equation?

Rectify the following errors

(i) Salary paid Rs. 5,000 was debited to employee's personal account.

(ii) Rent paid Rs. 4,000 was posted to landlord's personal account.

(iii) Goods withdrawn by proprietor for personal use Rs 1,000 were debited to sundry expenses account.

(iv) Cash received from Kohli Rs. 2,000 was posted to Kapur's account.

(v) Cash paid to Babu Rs. 1,500 was posted to Sabu's account.

(vi) Goods sold to Rohan on credit amounting to Rs. 700 were omitted from the accounts although cash received subsequently from him stands posted to his credit.

(vii) On 31st March, goods of the value of Rs. 6,000 were returned by Rohan and were taken into stock on the same date but entry was not passed in the books.

Companies Act or SEBI(Government) has laid down a format for making financial statements. Which concept covers this?