Which of the following is not a business transaction?

Use of common unit of measurement and common format of reporting promotes;

When information about two different enterprises have been prepared presented in a similar manner the information exhibits the characteristic of :

The primary qualities that make accounting information useful for decision-making are:

The journal entry to record purchase of equipment for Rs.2,00,000 cash and a balance of Rs. 8,00,000 due in 30 days include

Voucher is prepared for

When a firm maintains a cash book, it need not maintain:

Credit balance of bank account in cash book shows:

Favourable bank balance means:

A bank reconciliation statement is mainly prepared for:

Which of the following is not an error of principle:

If wages paid for installation of new machinery is debited to wages Account, it is:

Choose the correct chronological order of ascertainment of the following profits from the profit and loss account:

While calculating operating profit, the following are not taken into account.

If the rent of one month is still to be paid the adjustment entry will be

If the rent received in advance Rs 2,000. The adjustment entry will be :

Opening capital is ascertained by preparing:

Credit purchase, during the year is ascertained by preparing:

Distinguish between Capital Expenditure & Revenue Expenditure.

Explain the accounting principle of verifiability and objectivity of evidence.

List any three source documents.

What is the difference between trade discount and cash discount.

In the following Bank Reconciliation Statement, determine the missing amounts:

What is Amortisation?

State the three parties involved in a Bill of Exchange.

State the three objectives of Trial Balance.

Distinguish between Capital Expenditure and Revenue Expenditure?

How will you show closing stock in final accounts?

State the meaning of incomplete records

What is Accounting Information System?

Explain the following terms:
(i) Account
(ii) Sales
(iii) Goods
(iv) Vouchers.

Explain any two accounting Concepts/Principles :
(i) Dual Aspect, (ii) Accrual, (iii)Conservatism

Prepare accounting equation on the basis of the following:

Prepare a Cash Book with Cash and Bank Columns from the following transaction:

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 the account on December 31,2014 according to the cash book of the firm
(i) Cheque paid into bank prior to December 31, 2005 but not credited until after that date for Rs 10,000
(ii) Transfer of funds from account No. II to account No. I recorded by the bank on December 31, 2005 but entered in the cash book after that date for Rs 8,000.
(iii) Cheques issued prior to December 31, 2014 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 bank not entered in the cash book Rs 580.
(vi) Overdraft as per Pass Book Rs 18,990.

On April 1,2011 X Ltd. Purchased Machinery for Rs.1,00,000with CGST and SGST @ 6%each. The accounting year of the Company ends on 31st Dec. every year. Depreciation @ 10%p.a. on the initial cost is charged to P & L Account and credited to a separate account known as 'provision for depreciation' account. On 1st July 2013,the machine purchased on 1st April 2011was sold for Rs. 60,000.You are required to prepare machinery Account and Provision for Depreciation Account upto 2013.

Explain the following terms regarding Bills of Exchange:
(i) Endorsement
(ii) Paying Bill of Exchange before maturity date.

What is a Suspense Account? Give one example with entries of suspense account.

Opening Capital Rs. 60,000, Drawings Rs.5,000, Capital added during the year Rs. 10,000, Closing Capital Rs. 90,000. Calculate profit or loss.

What are the practical difficulties that are encountered by a trader due to incompleteness of accounting records?

Describe the role of accounting in the modern world.

What is matching concept? Why should a business concern follow this concept?

On the basis of the narrations, fill in the missing values:

What is cash book? Explain the types of cash books.

Chhabra & Sons find that overdraft shown by their Cash Book on 31st March 2013 is 30,500 but the Pass Book shows a difference due to the following reasons.
(i) A cheque for 6,000 drawn in favour of Shyam has not been presented for payment.
(ii) A post-dated cheque for 1,000 has been debited in the Bank column of the Cash Book but it could not have been presented in Bank.
(ii) Cheque totalling 12,000 deposited with the bank. have not yet been collected.
(iv) A bill for 5,000 was retired by the bank. under a rebate of 120 but the full amount of the bill was credited in the bank. column of the Cash Book. Prepare a Bank. reconciliation statement and find out the balance as per pass book.

Basaria Confectioner bought a cold storage plant on July 01, 2014 for Rs 1,00,000.
Compare the amount of depreciation charged for first three years using:
1. Rate of depreciation @ 10% on original cost basis;
2. Rate of depreciation @ on written down value basis;
3. Also, plot the computed amount of depreciation on a graph.

Determine the missing information in the following books of Drawer and Drawee:

Determine the missing information in the following Rectifying Journal Entries:

Following balance is extracted from the books of a trader. Ascertain Gross Profit, Operating Profit and Net Profit for the year ended March 31, 2014 :

Closing stock (March 31, 2014) valued at Rs. 8,000.

Following are the extracts from the Trial Balance of a firm as on 31^st March, 2014 :

Additional Information:
(i) Additional Bad Debts Rs 4,000.
(ii) Additional Discount allowed to Debtors Rs 1,000.
(iii) Maintain a provision for bad debts @ 10% on debtors.
(iv) Maintain a provision for discount @ 2% on debtors.
Pass the necessary journal entries and show the relevant accounts (including final accounts).

Mr. Bhavana keeps her books by Single Entry System. You are required to prepare the final accounts of her business for the year ended December 31, 2013. Her records relating to cash receipts and cash payments for the above period showed the following particulars:

The following information is also available

All her sales and purchases were on credit Provide depreciation on plant and building by 10% and machinery by 5%, make a provision for bad debts by 5%.

What is meant by Electronic Spreadsheet?