The root of financial accounting system is ______.

Double- entry book-keeping first emerged in Italy in the ___________ century.

The business is liable to the proprietor of the business in respect of capital introduced by the person according to

The incorrect accounting equation 

Which of the following statements is correct?

If the total of the debit side of an account exceeds the total of its credit side, it means

Account having credit balance is closed by writing _____________

The preparation of ___________ is the third step in the accounting process.

Closing entries are recorded in _____

In Triple column cash book, the balance of bank overdraft brought forward will appear in_________

The closing balance of petty cash book is considered as

Debit balance in the Cash book means________________

Goods returned by Senguttuvan were taken into stock, but no entry was passed in the books. While rectifying this error, which of the following accounts should be debited?

Depreciation is the process of ____________

_________ is also known as residual value.

Interest on Investments received from UTI is ____________

Goodwill is classified as _______.

At the end of the accounting year the balance in purchases returns account is closed by transferring to __________ account.

Interest on drawings is credited to ______ Account.

People who write codes and programes are called as _______.

Define accounting.

Complete the missing items.

Do you think the trial balance tallies all the time? What should be done when it does not tally?

What is an opening entry ?

Will the trial balance agree in case of errors of partial omission? Why?

List out the various methods of depreciation.

State the nature of the following transactions:
i) Carriage paid on goods purchased.
ii) Legal expenses incurred for abuse of trade mark.
iii) Money raised by issue of equity shares.

Write a note on trading account.

Accrued income is credited to the profit and loss account and shown in the balance sheet a current asset. Why

Name any two accounting packages.

Discuss in detail the importance of accounting

"Business units last indefinitely". Mention and explain the concept on which the statement is based.

Explain the meaning of source documents

The following balances are extracted from the books of Murali, as on 31st March, 2017. Prepare trial balance.

Give specimens of the following:
(a) Purchases book,
(b) Sales book,
(c) Purchases return book,
(d) Sales return book.

Explain the meaning of imprest system of petty cash book.

In the following illustration, what will be the cash book balance, if the balance as per bank statement is favourable?

The Accountant in a firm committed the following errors.
(a) Rent paid to landlord Rs. 12,600 was debited to the Landlord's personal account.
(b) Sold Computer for Rs. 6,000 was entered in sales account.
(c) Cash drawn by the proprietor for his personal use Rs. 7,400 was debited to Trade expenses account.
(d) Repairs to machinery Rs. 500 was passed through the Machinery account. Rectify the above errors.

What are the classifications of expenditures?

Consider the following information:
Loan amount Rs.3,00,000
Number of payment periods 48 months
Annual rate of interest 10%
Calculate periodic payment using PMT function.

What are the bases of accounting? and briefly explain it.

Explain briefly accounting conventions

Journahse the following transactions in Mr. Nallappan's Journal. 2014, March

The following balances appeared in the books of Kumaran on April 1, 2017.
Assets: Cash Rs. 1,00,000; Stock Rs. 40,000; Amount due from Rohit Rs. 10,000;
Furniture Rs. 10,000; Liabilities: Amount due to Anush Rs. 40,000;
Kumaran's capital Rs. 1,20,000
Find the capital and show the ledger posting for the above opening balances.

Mary runs a textile store. She has prepared the following trial balance from her ledger balances. Her trial balance does not tally. She needs your help to check whether what she has done is correct.

Record the following transactions in the sales book and sales returns book of M/s. Ponni & Co., and post them to ledger.

Enter the following transactions in the proper subsidiary books of Mr. Somu.
2013, Nov. 1 Bought from Gopal 300 bags of Wheat Rs.1,000 per bag less trade discount 10%
3 Purchased from Madhavan 150 bags of Rice Rs. 900 per bag less trade discount 10%
5 Returned to Gopal 10 bags of Wheat which were purchased on 1.11.13
7 Sold to Shiva 50 bags of Rice Rs.1,200 per bag less Trade Discount 5%
12 Sold to Sharma 25 bags of Wheat Rs.1,300 per bag less Trade Discount 10%
14 Returned 15 bags of Rice to Madhavan.
15 Shiva returned 5 bags of rice.
17 Bought from Rajan 200 bags of Wheat Rs.950 per bag
24 50 bags of Wheat returned to Rajan.

Enter the following transactions m cash book WIth cash and bank columns. Balance the cash book.

On 31^st March, 2017, Anand's cash book showed a balance of Rs. 1,12,500. Prepare ban reconciliation statement.
a) He had issued cheques amounting to Rs. 23,000 on 28.3.2017, of which cheques amounting to Rs. 9,000 have so far been presented for payment.
b) A cheque for Rs. 6,300 deposited into bank on 27.3.2017, but the bank credited the same only on 5^th April 2017.
c) He had also received a cheque for Rs. 12,000 which, although entered by him in the cash book, was not deposited in the bank.
d) Wrong credit given by the bank on 30^th March 2017 for Rs.2,000.
e) On 30^th March 2017, a bill already discounted with the bank for Rs. 3,000 was dishonoured, but no entry was made in the cash book.
f) Interest on debentures of Rs. 700 was received by the bank directly.
g) Cash sales of Rs. 4,000 wrongly entered in the bank column of the cash book.

A book-keeper finds that the debit column of the trial balance is short by Rs.308 and the difference is put to a suspense account. Subsequently, the following errors were located.
(a) An entry for sale of goods on credit for Rs.102 to Mekala was posted to her account as Rs.120.
(b) Rs.100 being the monthly total of discount allowed to customers was credited to discount received account in the ledger.
(c) Rs.275 paid by Mannan was credited to Kannan account.
(d) Rs. 26 appearing in the cash book as paid for the purchase of stationery for office use has not been posted to ledger.
(e) The purchases book was undercast by Rs.100.
Rectify the errors and prepare suspense account.

A company purchased machinery on 1.4.2012 for Rs. 50,000. Depreciation is 10%. Accounts are closed on 31^st March every year. Prepare machinery account and depreciation account under straight line method and also under written down value method.

From the following information, prepare trading and profit and loss account of Abdul Rahuman for the year ending 31st December 2016 and balance sheet as on that date. The closing stock on 31st December 2016 was valued at Rs. 2,000.

From the under mentioned trial balance of Mr. Saleem as on 31-03-2018. Prepare trading and profit and loss account and balance sheet as on the date.

Additional Information Supplied :
(i) Closing stock Rs.50,000
(ii) Provide for outstanding liabilities
Rent and taxes Rs.2,000
Wages Rs.3,000
Salaries Rs.4,000
(iii) Depreciation on plant and machinery @ 5% and on furniture @ 10%.
(iv) Provide 4% interest on bank loan.
(v) Write off bad debts Rs.2,000

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