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| 4651. |
All indirect expenses are tranfer too profit and loss account ( true/ false) |
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Answer» all INDIRECT EXPENSES are tranfer to PROFIT and loss ACCOUNT. [False] all the indirect expenses are debited to Profit & Loss Account. |
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| 4652. |
if a firm prefers pathners capital accouns to be shown at the amount introduced by the partnes as capital in firm then enteries for sallry interest darwins interest on capital and darwins and profits are made in. |
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Answer» gigggggchdndmuslsr H |
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| 4653. |
There is no days of grace are allowed on any bill true/ false |
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| 4654. |
Show the Stores Ledger entries, the value of issues and value of closingstock under Weighted average Method |
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| 4655. |
ள்ளே போவோம்!தெரியுமா?பனைமரத்திலிருந்து கிடைக்கும்பதநீரிலிருந்து பனங்கற்கண்டு,கருப்பட்டி போன்றவற்றைத்தயாரித்து விற்பதன் மூலம்அதிக வருவாய் கிடைக்கும்.வ்வாறு ஒரு பொருளை மேம்படுத்தப்பட்டபற்றுப் பொருள்களாக மாற்றுவதை மதிப்புக்உட்டுப்பொருள் என அழைக்கின்றனர்29 |
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Answer» I can't UNDERSTAND this LANGUAGE...... |
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| 4656. |
pass journal entry: ( income tax paid rs 10,000.(b) give away as charity goods costing rs 10,000 ( c) salary paid rs 2400, wages paid rs 700 (d) purchased goods from sanjiv rs 50,000 at 10%T.D. |
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| 4657. |
Boarded warehouse are used for goods in which dutiee have been paid true or false |
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Answer» Explanation: A bonded warehouse, or BOND, is a building or other secured area in which dutiable goods may be stored, manipulated, or undergo manufacturing operations without payment of duty.[1] It may be managed by the state or by private enterprise. In the latter case a customs bond must be posted with the government. This system exists in all developed countries of the world. Upon entry of goods into the warehouse, the importer and warehouse proprietor incur liability under a bond. This liability is generally cancelled when the goods are: exported; or deemed exported; withdrawn for supplies to a vessel or aircraft in international traffic; destroyed under Customs supervision; or withdrawn for consumption domestically after payment of duty. While the goods are in the bonded warehouse, they may, under supervision by the customs authority, be manipulated by cleaning, sorting, repacking, or otherwise changing their condition by processes that do not amount to manufacturing. After MANIPULATION, and within the warehousing period, the goods may be exported without the payment of duty, or they may be withdrawn for consumption upon payment of duty at the rate applicable to the goods in their manipulated condition at the time of withdrawal. In the United States, goods may REMAIN in the bonded warehouse up to five years from the date of importation.[2] Bonded WAREHOUSES PROVIDE specialized storage services such as deep freeze or bulk liquid storage, commodity processing, and coordination with transportation, and are an integral part of the global supply chain. |
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| 4658. |
Royalty AccountsPenelopment Or Shortworkings:Problem 2:(When there is fixed recoupment of short workings and short workingswritten off)A company leased a colliery on 1.1.2007 at a minimum rent of Rs. 40,000per year merging into a royalty of Rs. 3 per unit with power to recoupshortworkings over the first three years of the lease. The output of the colliery forthe first four years was 9000 units, 12,000 units, 16,000 units and 20,000 unitsrespectively. Give journal entries in the books of lessee and lessor.Answer:Analytical tableYear Output RoyaltyRs.Minimum Short Surplus Recoup WrittenRent (Rs.) workingsment off13,0004,0002007 9,000 27,0002008 12,000 36,0002009 16,000 48,0002010 20,000 60,00040,00040,00040,00040,0008,000 8,000 9,00020,000 |
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Answer» Answer: |
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| 4659. |
It is the policy of OAK Nig Plc to purchase 500units of inventory each time it places an order. It always cost the firm a total sum of N500 to place an order and N25 for safe-keeping each unit of inventory in the warehouse. On average basis, the firm make use of 5,000units in a year.As the new cost accountant of OAK Nig Plc, comment on its present policy and advice the management on the appropriate units of inventory to order per time. |
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| 4660. |
लेखांकन समीकरण बनाइए (1) कुणाल ने ₹250000 नगद निवेश का व्यापार आरंभ किया (2) नगद फर्नीचर खरीदा ₹35000 में (3) नगद कमीशन का भुगतान किया ₹2000 में (4)उधार माल खरीदा ₹40000 में (5) ₹20000 मूल्य की वस्तुएं नगर बेची |
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| 4661. |
P/L accounDebited in costing P/L account137.Dividend paid on share capitalDebited in Financial P/L accountDebited in costing P/L accountCredited in costing P/L accountCredited in Financial P/L accountOver Absorption of overheads costing is? |
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Answer» i don't KNOW if you have any QUESTIONS or comments PLEASE please follow me |
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| 4662. |
Saathiलेखम समीकस बनाइटजोल ने 250,080 F. नई निवेश कर व्यापारआरंभ कियानद फर्निचर व 35,000जब्द कमीशन का तन किया 2000उधर मल खरीक्ष20,00D 5- सूल्य ही वस्तु न द बेची40,000 |
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| 4663. |
Salary of a foreman should be classified as a(8) Fixed overhead(b) variable overhead(6) Semi-fixed or seml variable overhead |
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Answer» Explanation: |
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| 4664. |
8.Record the following transactions in the purchase book and purchase return book of Aditya:1. Purchase goods of Rs.50000 at 5% T.D. from Tamil traders.2. Purchase goods of Rs. 60000 at 10% T.D. and 10% C.D. from Mangal Singh and paid 50% amount by cash.3. Mangal Singh returned 40 % goods as they are deffective.4. Purchase goods of Rs. 34000 from Rishabh at 10% T.D. and he returned 25% goods as they are deffective.Give me answer......... plzz |
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Answer» Answer: NCERT Solutions for Class 11 Commerce Accountancy Chapter 1 Introduction To Accounting are provided here with simple step-by-step explanations. These solutions for Introduction To Accounting are extremely popular among Class 11 Commerce students for Accountancy Introduction To Accounting Solutions come handy for quickly completing your homework and preparing for exams. All questions and answers from the NCERT Book of Class 11 Commerce Accountancy Chapter 1 are provided here for you for free. You will also love the ad-free experience on Meritnation’s NCERT Solutions. All NCERT Solutions for class Class 11 Commerce Accountancy are prepared by experts and are 100% accurate. Page No 20: Question 1: Define accounting. ANSWER: Accounting is a process of identifying the events of financial nature, recording them in Journal, CLASSIFYING in their respective ledgers, summarising them in Profit and Loss Account and Balance Sheet and communicating the results to the users of such information, viz. owner/s, government, creditors, investors etc. According to the American Institute of CERTIFIED Accountants, 1941, “Accounting is an ART of recording, classifying and summarising in a significant manner and in terms of money TRANSACTIONS and events that are, in PART at least, of a financial character and interpreting the results thereof.” |
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| 4666. |
While making entries in cash book which rule of account is followed |
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Answer» Answer: when MAKING ENTRIES in CASH book ASSET ACCOUNT rule followed. |
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| 4667. |
Bought goods from govind on credit rs. 75000, less 10% trade discount |
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Answer» purchases A/c..............Dr 67500 to GOVIND 67500
75000-7500 =67500 |
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| 4668. |
PREPARE A TRIAL BALANCE AS AT MARCH 31, 2017 (6M)CAPITAL1,00,000 |
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| 4669. |
Reconciliation of cost and financial accounts in the modern computer age is redundant . comment |
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Answer» Where cost accounts and financial accounts are separately maintained in two different sets of books, the profit or loss shown by one may not agree with that shown by other. Therefore, it becomes NECESSARY that PERIODICALLY the profit or loss shown by the two sets of accounts is reconciled. A memorandum of reconciliation is PREPARED showing the reasons for difference between the RESULTS disclosed by each system. It is done to CHECK the arithmetical accuracy of both sets of accounts as well as to detect mistakes committed in the accounts. |
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| 4670. |
कुणाल में ₹250000 नगद निवेश कर व्यापार प्रारंभ किया लेखांकन समीकरण बनाइए |
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Answer» cash. 250000. = 250000 |
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| 4671. |
State the main lending polices of commercial banks |
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Answer» Answer: Here are the policies
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| 4672. |
Following are the essential elements of a partnership frim expect |
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Answer» The essential ELEMENTS of partnership firm are at least two persons, there is an AGREEMENT between all partners and partnership agreement is for some business. But its not NECESSARY to that the partners have EQUAL share of profits. They may have any profit sharing ratio as agreed or in the deed. |
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| 4673. |
Cash book does not record the ____transaction |
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| 4674. |
Capital can be bought in business in how many forms?specify them. |
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Answer» ..... hggffgghhhhhgfffffgg |
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| 4675. |
Adminission of a partnerPartical problens1. The following was the balance sheet of ram &Rahim, who were sharing profits & losses in the ratio 2:3 their balance sheet as on 31 march 2015 was as underLiabilitiesBills Payable 25000Trade creditors 50000General Reserve 20000profile & loss a/c 10000capital: ramu. 50000 rahim. 30000Total. 1 85000AssetsBank 10000Debtors 40000stock. 30000investment 20000furniture. 25000building. 60000Total. 185000on 1st pril 2015 they agreed to admit mr.Peteras new Partner 1/5th share in profits on the following termsfor good will in cash.and opening balance sheet of now tiom.the ratio of 23 Their balance sheet as on.(a) Peter should bring 40000 for capital & 20,000 for good will in cashb) Depreciates furniture by 5% and stock by 10%(C) Appreciate building value by 15%.(d) Provide for bad debts at 5% on Debtors give necessary journal entries and ledger a/c and opening balance sheet of new firm |
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Answer» WORDS). ▪︎ All the RULES for 'writing a PARAGRAPH' MUST be followed ! ⚠️No SPAM ₕₑᵣₑ ᵦᵧ ᵢ ₑₗₐᵣₑ ₜₕₑ ᵢₙₙₑᵣ ₒ ₜₕₑ ₜₕₐₙₖₛ ᵢᵥᵢₙ ₒₘₚₑₜᵢₜᵢₒₙ..ₓD ⚡ ⱼᵢₛᵤ ₋ ₂₀₀₊ ❤ O_O ₍ₗᵤᵥ ᵤ ₐ ₗₒₜ ⱼᵢₛₙₐₖᵤₜₜᵧ..₎ |
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| 4677. |
Debit what comes in and credit what goes out come go none of these |
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| 4678. |
How is primium on share used in company |
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Answer» Answer: A company issues its shares at a premium when the price at which it sells the shares is HIGHER than their PAR value. This is quite common, since the par value is typically set at a minimal value, such as $0.01 per SHARE. The amount of the premium is the DIFFERENCE between the par value and the selling price. Explanation: Hope it will helps you◉‿◉ |
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| 4679. |
11. The book keeper of a firm haivng been unable to agree the trial balance on31st December 1997 raised a suspense account. On investigation youfind the following errors.i) Goods purchased form Dash and Co accounting to 1760 hasbeen posted to the debit of their account as *17.60 from thepurchase book.ii) The purchase book has been undercast in page 14 by 500ii) * 4,600 paid for repairs to building was charged to buildingaccount.iv) A cheque for 301.02 received from Gopalan has been postedto his account as 302.01.Show the journal entries which are necessary to correct the aboveerrors.(M.S.University Nov.2002)(Ans : Difference in Trial Bal. * 1276.61 |
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Answer» jfaitairajfzzfjzfjjdfjjffjjrrjjra |
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| 4680. |
P, Q and R were partners sharing profits and losses in ratio of 4 : 3 : 1. The partners agree to sharefuture profits in ratio of 5 : 4 : 3. Calculate each partner’s sacrifice or gain due to change in ratio |
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Answer» sacrifice or GAIN P = 4/8-5/12 = 48-40/96 = 8/96 = 1/12(sacrifice) Q = 3/8-4/12 = 36-32/96 = 4/96= 1/24 (sacrifice) R= 1/8-3/12 = 12-24/96 = -12/96 =-1/8(gain) p & Q sacrifice 1/12:1/24 =. 2:1 sacrifice ratio R gain 1/8 |
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| 4681. |
10. Rectify the following errors and find out the difference in Trial balance.Open suspense account.i). 7850 paid for the purchase of a Type Writer was charged to officeexpenses account.ii) Cash sales 3,550 was posted as 3,505iii) Purchases returns book for November was undercast by 25iv) Goods accounting to 860 sold to Ravi on 25th December werealthough correctly entered in the sales bok, posted as 866 to theledger a/c. The total sales of the month was overcast by 100v) Goods sold to Ramu worth 150 were correctly entered and fromthere posted to his debit. But goods were later on returned andtaken into stock. No enteries were made in the book.(M.S. University 2000)(Ans : Difference to Trial Bal. 120Suspense a/c Total 220) |
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Answer» sorry. okay. please. okay. |
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| 4682. |
36. A company has net sales of 300 lakhs, cash expenses (including taxes) oft 140 lakhsand depreciation expenses of * 50 lakhs. If debtors increase over the period by 40lakhs, cash from operations will be: |
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Answer» can we FRIEND....................... |
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| 4683. |
9. A book keeper failed in balancing his trial balance, the credit exceedingthe debit by 250. The amont was entered in a suspense account. Laterthe following errors were discovered. Give journal entries to rectify theerrors and prepare the suspense account:i) Goods amounting to 620 sold to Murugan were correctlyentered in sales book, but entered to his account as 260ii) Goods amounting to * 55 were sold to Kannan for cash. It wacorrectly entered in cash book, but it was wrongly credited toKannan's a/ciii) A credit balance of 735 of rent amont was shown as 570iv) The total of returns outwards book amounting to 200 was notposted in the ledger.v) Goods worth * 100 were purchased from Murthy but theamount was entered in the sales account. The account of Murthywas correctly credited.(M.S.University Apr. 2000)(Ans : Suspence a/c Total 615) |
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Answer» Answer: balance, the CREDIT exceedingthe debit by 250. The amont was entered in a suspense account. Later the following ERRORS were discovered. Give journal entries to rectify the errors and prepare the suspense account: i) Goods AMOUNTING to 620 sold to Murugan were correctly entered in sales book, but entered to his account as 260 ii) Goods amounting to * 55 were sold to Kannan for cash. It wa correctly entered in cash book, but it was WRONGLY credited to Kannan's a/c iii) A credit balance of 735 of rent amont was shown as 570 iv) The total of RETURNS outwards book amounting to 200 was not posted in the ledger. v) Goods worth * 100 were purchased from Murthy but the amount was entered in the sales account. The account of Murthy was correctly credited. (M.S.University Apr. 2000) (Ans : Suspence a/c Total 615)We live in a world defined by the pace of change, and whilst the velocity of that change has not always impacted upon our political institut |
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| 4684. |
8.1st January Mohan drew three bills worth * 2,400 on his debtorSuresh - First bill was for * 700 of one month second bill wasfor 800 of two months and the third bill for 900 of fourmonths. Suresh accepted all the three bills. On 4th JanuaryMohan endorsed the first bill to his creditor Ramesh in fullsettlement of his account for 710. The second bill wasdiscounted for *792. The third bill was retained by him tillthe date of maturity. On the date of maturity the first bill waspaid but the second bill was dishonoured, noting chargesamounted to 10.Mohan drew a fourth bill for 825 including 15 for interestfor three months. Suresh accepted. On the date of maturitythe third and fourth bills were honoured. Pass the necessaryentries in the books of Mohan, Suresh and Ramesh |
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Answer» Answer: it's to long and DIFFICULT mai samhaj hi NAHI paya ye question PHELE please mark me as brain liest its |
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| 4685. |
TIL Auswer the following questions(6x1] Prepare Single Column Cash Book for thefollowing transactionDate1 ParticularAmt inJan 1 Cash – in-hand20000Jan 5 Purchase Machinery10000Jan 10 Cash Received from Ram5000Jan 16 Cash paid to Tanu 7000Jan 18 Paid Salary4000Jan 25 Received Commission2000 |
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Answer» Answer: Dr. cr dateparticulars. amt. DATE particulars. amt jan. jan.5. 1. To bal. b/d 20000. machinery 10000 10 Ram 5000. 16.Tanu. 7000 18. SALARY 4000 25 commission 2000. 31. BALANCE 6000 total. 27000. total. 27000 |
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| 4686. |
Find out income from subscription during the year ending 2019 : 2Particulars `Subscription received during the year 12,000Subscription outstanding in the beginning of the year 2,000Subscription received in advance for the next year 2020 900Subscription received in advance during 2018 year 700Subscription outstanding at the end of the year 2,800 |
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Answer» Answer: Subscription received during the YEAR = 12000 (-) subscription Outstanding in the BEGINNING of the year =. 2000 (-) subscription received in advance for NEXT year = 900 (+) subscription received in advance in previous year=700 (+) subscription Outstanding st the END of year =. 2800 balance of subscription = 12000-2000-900+700+2800 = 12600 |
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| 4687. |
30. If profit is 50,000, opening creditors are 20,000 and closing creditors are 25,000,then cash from operations will be: |
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Answer» no IDEA about your answer... FOLLOW me |
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| 4688. |
Pass journal entries:1) income tax paid Rs.10,000 |
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Answer» Answer: (Income tax paid) Total:-Dr.10, 000 and Cr. 10,000 |
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| 4689. |
What is a non profit organization |
Answer» Non profit ORGANIZATIONare that organization which are working for PUBLIC SERVICE or their own INTEREST. They are not run the organization for profit making purpose. |
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| 4690. |
Purchased goods on credit Rs. 30,000 |
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Answer» Answer: sorry I can't UNDERSTAND your question. THANKS for free POINTS. |
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| 4691. |
Non departmental items of expenses are(a) Charged to Departments on the basis of total sales (b) Charged to the General Profit and Loss account (c) Charged to departments according to the fixed assets employed (d) None |
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| 4692. |
Record the journal entries for the following and post them to legders1 -Business started with cash 8,000 and plant & machinery 3,000.2 - Stock purchase for sale (cash purchase) = 3,000, credit purchase = 5,0003 - Wages paid 120,000 (including 20,000 relating to a future year).4 - Salaries paid 200,000 but due 110,000.5 - Sales made for cash 600,000 and on credit 800,000.6 - Depreciation 10 percent on plant & machinery.7 - Goods costing 20,000 destroyed by fire.8 - Payment made to creditors to the value of 200,000 at 10 percent discount. |
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Answer» jhgghkkjhvvbjkjhggffddddddddddfghhgffdfghjgfdfgji |
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| 4693. |
Where will sundry income comes in profit or loss alc |
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Answer» Sundry income is generated from sources other than a company's normal income-generating business operations. This INCLUDES any income not generated by the sale of the company's products and services. Sundry income is LIKELY to be less predictable in nature than revenue from a business's primary operations because the associated activities are often irregular in nature and cannot be seen as guaranteed sources of income over the long term. Sundry income must be recorded on financial statements and BALANCE sheets, as it has an effect on a business’s net worth and needs to be reported to shareholders. How Sundry Income Works Sundry income is a nonmaterial source of income and is generally trivial in relation to a company's income from operations. Even though sundry income may not make up a LARGE part of a business’s income, this does not mean the amounts are negligible. There is no limit to the amount of income that may qualify as sundry income because the defining characteristic is based on the irregularity of the fund source and not the amount of funds generated. |
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| 4694. |
P, Q and R were partners sharing profits and losses in ratio of 4 : 3 : 1. The partners agree to sharefuture profits in ratio of 5 : 4 : 3. Calculate each partner’s sacrifice or gain due to change in ratio. |
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Answer» a few of the FUTURE of COMBUSTION CHAMBER and the |
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| 4695. |
D)Error of passing in wrong a/c but correct side(xvik) Repairs to machinery Affect Machinery account. (True/False)2Explain the rules of recording Personal and Real AccountsGive two difference between Book te |
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Answer» Explanation: 2) An example of a Real Account is a Bank Account. A Personal account is a GENERAL LEDGER account connected to all persons LIKE individuals, firms and associations. ... A NOMINAL account is a General ledger account pertaining to all income, EXPENSES, losses and gains. An example of a Nominal Account is an Interest Account |
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| 4696. |
Partner X, withdrew Rs.3,000 per month during 2019. Interest on drawings is charged @ 9% perannum. Find out interest, if drawings were made on the 1st day of every month. |
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Answer» 3000×12 = 36000 12 month rate = 9×12 =108% 108% of 36000 = 108/100×36000 =38880/- hence the INTEREST is 38880/-
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| 4697. |
One difference between revaluation and realisation account |
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Answer» Revaluation account is an account PREPARED to ascertain the variation in the VALUES of the assets and liabilities of the firm. Realisation account is an account prepared to ascertain the NET profit or loss on the sale of assets or discharge of liabilities. ... It can be prepared only once, i.e. when the firm is dissolved. |
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| 4698. |
10 Paid Mittal and Sons cheque for ₹975, receiving discount ₹25.11 Received a cheque from Bashir & Co., value ₹290, in settlement of their account of ₹300. 12 Paid into the bank the two cheques received from Pearl Bros. and Bashir & Co. 14 Pearl Bros. cheque returned by the bank dishonoured. 31 Interest and bank charges for the month ₹30. 31 Deposited into bank any cash in excess of ₹800. of triple column cash book |
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Answer» PLEASE GIVE my answer to BRAINLIEST answer FRIENDS |
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| 4699. |
Babu purchased on 1st April 2006, machinery for Rs 6000. On 1st October 2006, he also purchased anothermachine for Rs 5000. On 1st October 2007, He sold the machinery purchased on 1st April 2006 for Rs 4000.Depreciation is charged @ 10% p.a. by diminishing balance method on 31st march every year. Prepare machinery account for year ended 31st march, 2007 and 2008 |
Answer» FOLLOW me BACKfollow me |
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| 4700. |
X,h and z were partners in a firm sharing profits in the radio of 3:2:1. Z retired and the new profit sharing radio between X and y was 1:2.on z's retirement the goodwill of the firm was valued at 30,000. pass necessary Journal entry for the treatment of good will on Z's retirement. |
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Answer» Z share of goodwill = 30000*1/6 = 5000 gaining ratio = NEW ratio- OLD ratio X = 1/3-3/6 = 6-9/18 =(-)3/18. = 1/6 ( SACRIFICE) Y = 2/3-2/6 = 12-6/18 = 6/18. = 1/3 ( gain) X sacrifice ANDY gains. So Y compensate both X and Z X share in goodwill 30000*1/6 = 5000 journal for goodwill Y's capital account Dr. 10000 To X's capital a/c. 5000 To Z's capital a/c 5000 3/18:6/18 1:2 |
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