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InterviewSolution
This section includes InterviewSolutions, each offering curated multiple-choice questions to sharpen your Class 11 knowledge and support exam preparation. Choose a topic below to get started.
| 4151. |
What is the journal entries.Issued cheque for rent |
| Answer» Rent a/c dr. To bank a/c<br>Rent A/c Dr.To bank A/cExplanation:Rent is expense in this situation and expenses are debited by the rule =Debit all expenses and losses | |
| 4152. |
Can anyone tell me about unfavourable quastions of ch.12 ,i have not understood plz ..... |
| Answer» | |
| 4153. |
Who is debtors? |
| Answer» Dabtors is a person, company and other entity that owes money. In the other words dabtors has a debts or legal obligation to pay the amount owed.<br>Dabtors vo hote h jinse hme pese lene h<br>Debtor is the person who takes goods or services from business on credit. It is the asset of the business. Whenever it increase it will be in debit side and whenever decrease it will come in credit side.For example: M/S angel sale goods of @10,000 to A&Co. On credit the following entry will be pass in the books of M/S angel. A& Co. A/C..............Dr. 10,000 To Sales A/C. 10,000 | |
| 4154. |
I need 40 transaction with gst for project |
| Answer» Prefer u ar textbook illustrations with GST questions | |
| 4155. |
Which type of questions asked in ledger |
| Answer» Firstly journal, ledger and triel balance these types of questions asked by any | |
| 4156. |
NCERT, pg. No. 174,ques.no. 13 Sol. |
| Answer» | |
| 4157. |
goods costing Rs 20000 sold at a loss of 5%,out of which Rs 12000 recieved in cash |
| Answer» Its accounting equation .......Durvesh Kulkarni<br>What equation or journal entry | |
| 4158. |
Tabular differenceon the basis of accural and cash basis 4or 5 difference |
| Answer» | |
| 4159. |
What will be the journal entry for rebate in any case? |
| Answer» Rebate means Discount these two words have the same meaning So for credit sales this is the transaction Debtors Acc dr Doscount allowed acc To Sales For cash sales Cash acc dr Discount allowed acc To Sales acc For Credit purchase Purchase acc Dr To creditors acc To Discount recieved acc For cash purchase Purcahse acc dr To Cash acc To Discount recieved acc<br>Journal Entries for Sales RebatesBeyond the purchase price, it then becomes clear the customer is entitled to a 12% rebate amounting to $432. This rebate is then paid to the customer and the accounting journal entry is a debit to Sales Rebates and a credit to the Bank account of $432. | |
| 4160. |
Recording of capital contribute by the owner as liability ensures the adherence of which principle |
| Answer» Recording of capital contribute by the owner as liability ensures the adherence of\xa0Separate Entity OR Business entity concept.It means that personal transactions of owners are treated separately from those of the business. | |
| 4161. |
Why business and its owner are separate from each other |
| Answer» Due to the BUSINESS ENTITY PRINCIPLE | |
| 4162. |
define ledger |
| Answer» The book which contains a classified and permanent record of all the transactions of a business is called ledger. | |
| 4163. |
paid for fitting and car in which account its effect in accounting equation |
| Answer» I guess amount should be deducted from cash and capital | |
| 4164. |
Paid intrest to mahboob |
| Answer» Intrest a/c.. Dr to mehboob<br>Interest Account Dr To cash account | |
| 4165. |
Issued cheque in favour of krishan and received discountJournal entry |
| Answer» Krishan a/c dr... To bank a/c To discount rereceived a/c | |
| 4166. |
Assets:400000Profit:25000Creditor:255000Find opening capital |
| Answer» 1,70,000 | |
| 4167. |
Prove that accounting equation holds good under all circumstances give atlest two illustrations |
| Answer» Accounting equation signifies that the asset of a business are always equal to the total of capital and liabilities. A business transaction will result in the change in either of the asset, liabilities or capital of the firm and even after the change the asset will be again equal to the total of capital and liabilities. if a business transaction results in the increase of assets, there will also be a corresponding increase in the amount of either capital or liabilities by the same amount.Example-Ram\xa0started business with rs 75000 as capital.Ans- Asset=liability+capitalcash = liabilities+capital75000= 0 + 75000 | |
| 4168. |
How to record gst in accounting equation |
| Answer» | |
| 4169. |
Explain "Assets = Capital + liabilities ? |
| Answer» | |
| 4170. |
How to identify the which is cash and credit transaction? |
| Answer» | |
| 4171. |
Prepare the account of Mr. Small as would appear to the books of Mr. Big |
| Answer» tell me | |
| 4172. |
Jornal |
| Answer» | |
| 4173. |
Recovered from mohan rs 4000. Who owes rs 10000 |
| Answer» Cash ac dr - 4kBad debt ac dr - 6kTo mohan - 10k<br>Cash a/c dr 4000Bad debt a/c de 6000 To mohan 10000 | |
| 4174. |
Journalising the followingentry in the book of harish1april started business with cash 80000 |
| Answer» Cash a\\c dr To capital a\\c<br>Cash A/C-dr 80000 To capital A/C 80000 | |
| 4175. |
Question 7 of chapter 7 |
| Answer» | |
| 4176. |
Ncert question 10of chapter 7 |
| Answer» | |
| 4177. |
Question 10 of chapter 7 |
| Answer» | |
| 4178. |
Capital is liability for business state and explain the concept involved |
| Answer» | |
| 4179. |
How can we make format of accounting equation by reading questions |
| Answer» First we make an box the we can set some coloum the question by question we get assets name the we fill theciloum and bix 1st block is date second is particular then third is we are find assets and liability or capital the fill the coloum the question bu question we get the answers | |
| 4180. |
What are accounting concept imp for exams |
| Answer» | |
| 4181. |
Basic accounting concepts |
| Answer» Basic accounting concepts are the principles of accountancy to do fair entry in account book.It is known as GAAP.And there are many concepts. | |
| 4182. |
Define the debit and credit notes |
| Answer» A debit is an accounting entry that either increases an asset or expense account, or decreases a liability or equity account. It is positioned to the left in an accounting entry. A credit is an accounting entry that either increases a liability or equity account, or decreases an asset or expense account. | |
| 4183. |
Pass the journal entries: Purchased goods for cash |
| Answer» purchases a/c dr. to cash a/c<br>Purchase a/c dr. To cash a/c | |
| 4184. |
Write deference Between book Keeping and accounting |
| Answer» 1) Book keeping is the primary stage of accountingAccounting is the secondary stage of accounting 2)Book keeping is the recording phase of accountingAccounting is the summarizing phase of accounting 3)Book keeping is done by junior staff called book keepers Accounting is done by senior staff called accountant 4) Book keeping is routine in nature and does not require any soecial skill or knowledge. Accounting is analytical in nature and requires special skill n knowledge | |
| 4185. |
On 1 fast April 1998purchased a machine for |
| Answer» April 1. Machinery A/C ...........Dr. To Cash/Bank A/C | |
| 4186. |
Journalist Shiv_s_co.cheque deposited into bank (bank charges 10) |
| Answer» | |
| 4187. |
What is pay in slip ? |
| Answer» It is a source document used for depositing cash or cheques into bank<br>Objective of accounting | |
| 4188. |
What is the voucher for withdraw cash for office use |
| Answer» | |
| 4189. |
Where we record GST when we are making final account? |
| Answer» Gst is recorded in balance sheet.Input gst at asset side and output gst at liability side. | |
| 4190. |
What is bankover draft? |
| Answer» It is a facility provide by bank to account holder (current account only )in bank to withdraw money more than their account money . After a fixed time the interst starts to be added in it.<br>Meaning of bank overdraft is to earn money from bank more than our account balance | |
| 4191. |
Define full lesson of ledger |
| Answer» | |
| 4192. |
Chapter 10 question 22 |
| Answer» Can you write the question | |
| 4193. |
strike by employees will not be recorded in the book of accounts.true or false |
| Answer» True<br>true as only those transactions are recorded in books of accounts whose effect can be expressed in terms of money.<br>True | |
| 4194. |
Discuss the concepts. Goods and services tax(GST). Also state its objective. |
| Answer» | |
| 4195. |
How to prepare financial statment |
| Answer» For preparing financial statement we first need trail balance.Then make income statement that contains trading and profit and loss account. Its format is just like ledger but without date column as we are preparing at the end of financial year.in this all nomial accounts will be recorded .After this balance sheet has to be made containing all real and personal accounts. | |
| 4196. |
Enter the following transaction in purchase general book of MS Gupta traders of July 2017 |
| Answer» | |
| 4197. |
Were is answer |
| Answer» | |
| 4198. |
How to journal entry post into ledger? |
| Answer» I explain u in my words by an example like the journal entry is cash A/c .........dr To capital A/c So In the ledger of cash, capital is shown in debit side And In the ledger of capital, cash is shown in credit side If u still have any query u can ask me okay dude | |
| 4199. |
May 14 bank issued draft in favour of shyam and sons for 8000 |
| Answer» 10th k section m kyu aayi ho | |
| 4200. |
What is bank reconcillation ? |
| Answer» Bank reconcilation is the statement which is used for telly the differences between passbook and cash book | |