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Single entry system is incomplete system because it does not record the two aspects or accounts of all the financial transactions of the business. It does not maintain any record of the transactions relating to the NOMINAL ACCOUNT and REAL account except cash account.

The TERM 'fixed deposit' means that the deposit is fixed and is REPAYABLE only after a specific period is over Under fixed deposit account, money is deposited for a fixed period say six months, ONE year, five years or EVEN TEN years.

purchase R RECORDED in DR side of trading a/c

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usting entry for the DIFFERENCE between  the invoice PRICE and COST price of goods are  shown in balance sheets.Option (2) is correct.Explanation:In a balance SHEET, entries are made regarding invoice and cost prices of the goods. It is very helpful in keeping the record of a company for future uses. The companies are very careful about entries in the balance sheets as a little mistake can AFFECT the income statement in the sheet. Adjustment entries are also significant in the preparation of a balance sheet.

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6,20,000Explanation:X had started BUSINESS with Rs.2,00,000 in the beginning of the year. During the year, he borrowed Rs.1,00,000 from Y. He further introduced Rs.2,00,000 in the business. He also GAVE Rs.50,000 as loan to his son. Goods GIVEN away as charity by him were Rs.20,000. Profits EARNED by him were Rs.2,50,000. He also withdraw Rs.30,000 from the business. His capital at the end of the year would be__________.

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Cooperative SOCIETIES work on the principle of OPEN MEMBERSHIP; therefore, many PERSONS can become members. The membership is not restricted to a few persons only.

Contents Home Bookshelves Physical & Theoretical Chemistry Supplemental Modules (Physical and Theoretical Chemistry) Acids and Bases Acid/Base Basics Expand/collapse global locationOverview of Acids and BasesLast updatedAug 22, 2020Lewis Concept of Acids and BasesAcid/Base Reactionspicture_as_pdfReadabilityDonateThere are three major classifications of substances known as acids or bases. The Arrhenius definition states that an acid PRODUCES H+ in solution and a base produces OH-. This theory was developed by Svante Arrhenius in 1883. Later, two more sophisticated and general THEORIES were proposed. These are the Brønsted-Lowry and the Lewis definitions of acids and bases. The Lewis theory is DISCUSSED elsewhere.

The financial statements are prepared using the facts concerning financial EVENTS, which are recorded sequentially. We NEED to initially record every one of these financial transactions. At that point, we need to process them UTILIZING every single material rules and methods. At last, we would now be able to UTILIZE this information to produce financial statements.In view of this comprehension, the nature of financial statements RELIES upon the accompanying focuses.hope it is helpful to you...

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the KNOWN PROBLEM is CALLED as REPEATED problemExplanation:please mark me as brainliest

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tion:G the FIRST thing to say is that only ONE of ACCOUNTING in a state that only has to make sure the same way is between a air conditioning and a NEW system that the driver is a good person to make a good deal for that time but if you got the first one off you got it is a good time to make a car for the next two days to you and your customers will have been a nice one to watch the same thing.

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A credit co-operative society is an independent group of PEOPLE belonging to the same CLASS, come together voluntarily to tend to they're common economic, social and cultural AGENDAS and requirements through an ENTERPRISE which is jointly-owned and controlled democratically by such people.hey there! I HOPE you found this helpfull. If not I am really sorry. Thankyou for reading this.

By a phenomenal RISE in the paid user base for ONLINE EDUCATION in. India ... barriers and has WITNESSED large number of players in the last ... In recent TIMES, the platform providers have.

Profit/loss = CLOSING capital + DRAWINGS & interest on drawings - opening capital - additional capital & interest on capital

Please mark me in brain listExplanation:Calculation of interest on drawings: Number of drawings = 6 Amount of each DRAWING= 4000 Total drawings= 6*4000 = 24000 Number of months= [TIME left after 1st drawing + Time left after last drawing]/2 = [6+1]/2 = 3.5 months Hence, Interest on drawings= 24000 * 5/100 * 3.5/12 = 350