_____________has rightly been termed as the language of the business.

_____________must be properly maintained to increase their productivity.

____________of a business have to be repaid in due time.

____________also require accounting records to submit in courts to prove their claims.

Accounting is not a modern concept and it is as old as _____________

The industrial revolution took place in ______________

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

______________ wrote his 'Summa de arithmetical'.

_____________ provides the relevant data to make appropriate decisions.

Accounting works as a tool for measuring past performance of the ___________ enterprises.

The profounder of double entry system of book-keeping is ___________

Which of the following does not follow dual aspect concept?

___________ is the process of recording business transactions in the books of accounts in a systematic way.

When money came into existence, ____________ activities involving money also flourished along with it.

___________ involves recording business transactions of financial nature in the books of accounts.

__________________ is basically generating financial information.

_____________ is the process of managing the income and expenses of a business firm.

____________ is a branch of knowledge.

__________ concept helps in keeping business affairs free from the influence of personal affairs of the owner.

According to _____________ concept only business transactions are recorded.

________ starts with identifying business transactions involving money or money's worth.

____________ are recorded as and when they take place with the written and authentic proof.

______ is used for credit purchases and credit sales.

________ is prepared in three copies.

_______ is prepared in duplicate and the original is sent to the seller.

Record of business transactions in the journal is known as_____________

The receiving aspect in a transaction is called _________.

The giving aspect in a transaction is caned ___________.

Capital account is classified under________.

Commission received is an example of_________.

The ledger account is prepared in ______________ format.

The process of transferring the debit and credit items from the journal to the ledger accounts is called _______________

When a journal entry has more than one debit or more than one credit or both, it is called a _________________

Ledger is a book of _______________

Personal and real accounts are _____________

Real accounts always show _________________

Accounts having credit balance is closed by writing ________________

The balances of Personal and Real Accounts are shown in the ______________

Normally, in a majority of business concern, the ledger is a _______________

In big concerns, the ledger is ________________

______________ is a statement containing the debit and credit balances of all ledger accounts on a particular date.

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

The first step is recording the business transactions in ____________.

______________helps to check the arithmetical accuracy of entries made in the accounting records.

The trial balance helps in discovering errors which may have been committed in the __________.

_____________ is prepared on a specific data.

____________ method is not commonly used as it cannot help in the preparation of financial statements.

The ____________ method is widely used, as it helps in the preparation of financial statements.

Suspense account in the trial balance is entered in the ______________.

Suspense account having credit balance will be shown on the _____________.

Instead of recording in one journal, the transactions are recorded in a number of prescribed books called ____

The sub-division of work gives the advantage of specialisation leading to _____

______ is one of the most important books, in which credit purchases of goods are recorded.

Purchases book does not keep record of purchases of _____

______ is the statement prepared by the seller of goods.

______ is the statement prepared by the seller of goods.

Entries in the purchases day book are made from invoices which are popularly known as _____

Business concerns are always profit motivated and try to increase their _____

______ is an allowance given on list or catalogue price of the article at the time of selling.

_____ is maintained to record only credit sale of goods in which the business dealing.

__________ is the most important subsidiary book.

____________ is maintained by every business, whether small or large is size

__________ Cash Book has only one amount column that is cash column

_________ transactions are not recorded in the cash book

___________ discount is allowed to the parties making prompt or immediate payment.

The ______________ column Cash book is prepared on the lines of simple cash book

All the transactions which decrease bank balance are recorded in the ___________ column on the Credit side.

In addition to cash dealings, every business may use cheques as a means of ___________

For the purpose of accounting, cheques received are treated as ______________

The amount given to the petty cashier in advance is known as ____________

________________can also be made through bank

_______________is simply a copy of the customer's account in the books of a bank.

In recent times, the copy of the records can be obtained by the customer electronically, which is called _______________

___________is not possible to have unfavourable cash balance in the cash book.

_______________can be prepared either from the balance as per cash book or bank statement.

Debit balance in the Cash book means________________

When balance as per Cash book is the starting point, to ascertain balance as per Pass book interest allowed by bank is______________

When balance as per Cashbook is the starting point to ascertain balance as per Pass book interest charged by bank is__________________

A bank pass book is a copy of_____________

The bank statement shows on overdrawn balance of Rs. 2,000. A cheque for Rs. 500 drawn in favour of a creditor has not yet been presented for payment. When the creditor presents the cheque for payment, the bank balance will be __________

Many business enterprises have shifted from manual accounting to ________________ accounting.

The failure of the accountant to record a transaction in the books of accounts is known as ________________

When the accountant has failed to record a transaction partially, it is known as ________________

_______________ usually occurs due to lack of concentration or carelessness of the accountant.

The errors that make up for each other or neutralise each other are known as _______________

________________ account will remain in the books until the location and rectification of errors.

When errors are located and rectified, _______________ automatically gets closed.

Errors which affect one side of an account are called ___________

Amount spent on servicing office Typewriter should be debited to:

Wages paid to workers for the installation of a new machinery should be debited to :

The root of financial accounting system is ______.

Which one of the following is not a main objective of Accounting?

Which one of the following is not a branch of accounting?

Financial position of a business is ascertained on the basis of ______.

Who is considered to be the internal user of the financial information?

In every business, certain ____________ assets are usedfor the conduct' of business operations.

The assets that are not depreciated are referred to as ___________ assets.

_________ is a non-depreciable asset.

____________ is a statement of financial position of a business.

The written down value is the true value of ________ assets

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

The concept which assumes that a business will last indefinitely is

GAAPs are:

The rule of stock valuation 'cost price or realisable value' whichever is lower is based on the accounting principle of :

In India, Accounting Standards are issued by

____________ method is appropriate for the fixed assets having certain period of working life.

____________ is also knonw as written downvalue method or reducing instalments method.

___________ method is recognised and accepted by income tax authorities.

If original cost of the asset is Rs.1,00,000 and the rate of depreciation is 10% per annum. The depreciation in the first year will be Rs.___________

_________________ method, the amount spent on the purchase of an asset is regarded as an investment.

Accounting equation signifies 

A firm has assets of Rs.1,00,000 and the external liabilities of Rs.60,000. Its capital would be  

Accounting equation is formed based on the accounting principle of

Which one of the following is representative personal account?

With drawal of cash from business by the proprietor should be credited to 

In the accounting cycle ___________ items are to be shown in the trading and profit and loss account.

___________ items are to be shown in the Balance sheet.

The benefits of ___________ are available for more than one year.

____________ is recurring in nature.

Depreciation on fixed asset is an example of ____________

'Cash withdrawn by the proprietor from the business for his personal use' causes

The incorrect accounting equation 

Real account deals with  

Prepaid rent is a  

In double entry system of book keeping, every business transaction affects  

___________ is received in the normal course of business

The loss which is not incurred in the normal course of business is ___________

Transaction which provide benefit to the business for more than one year is called as ___________

Amount spent on remodelling an old car is an example of ______________

Shanthi introduces Rs.50,000 as additional capital in the business. This amount will be considered as _____________.

The process of transferring the debit and credit items from journal to ledger accounts is called 

J. F. means ___________

The process of finding the net amount from the totals of debit and credit columns in a ledger is known as

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

The amount brought into the business by the proprietor should be credited to

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

___________ refers to buying and selling of goods with the intention of making profit.

____________ account is prepared to find out the difference between the revenue from sales and cost of goods sold.

_____________ refers to directly related cost.

If the amount of sales exceeds the cost of goods sold, the difference is ____________

After the preparation of ledger, the next step is the preparation of

Which of the following is/are the objective(s) of preparing trial balance?

A list which contains balances of accounts to know whether the debit and credit balances are matched is _______

The account which has a debit balance and is shown in the debit column of the trial balance is_______

Trial balance is prepared ____________

All the expenses incurred on the purchase of goods are ____________

Trading account is a __________ account.

____________ is a tax levied by the local authority when the purchased goods enter the municipal limits.

___________ is the amount paid to the owner of a mine or a patent for using owner's right.

The goods remaining unsold at the end of the accounting period are known as ___________

Trial balance is a_____

The trial balance contains the balances of_____

While preparing the trial balance, the accountant finds that the total of the credit column is short by Rs.200. This difference will be

Which of the following method(s) can be used for preparing trial balance?

The difference of totals of both debit and credit side of trial balance is transferred to _________

Expand CAS ________

__________ packages are used by medium or large business enterprises.

__________ is an identification mark.

___________ codes are applied primarily to source documents.such as cheques, invoices, etc.

___________code can facilitate document search.

Purchases book is used to record______

Sales book is used to record_____

Purchase returns book is used to record_____

Purchases of fixed assets on credit basis is recorded in_______

Which of the following statements is not true?

The expenses and incomes for the full accounting period must be taken into account while preparing ______

_____ principle requires that generally the revenue should be recognised in the period in which sale is deemed to have occurred.

______ earned during the period must be compared with the expenses incurred during the period.

The unsold goods in stock at the end of the accounting period Is termed as ______

Outstanding expense account is a representative ______ account.

A periodic total of the purchases book is posted to the _______

The total of the sales book is posted periodically to the credit of ____  

Sales return book is used to record_________

The source document or voucher used for recording entries in sales book is ____

Closing entries are recorded in _____

The income which has been earned during the current accounting year but .not received till the end of that accounting year is called as _____

______ is treated asbusiness expense.

______ is provided because the proprietor is separate from the business.

The decrease in value of fixed assets due to usage or passage of time is called ______

_______ is a loss for the business and should be adjusted against profit.

The cash book records____.

A cash book with discount, cash and bank column is called_______

Which of the following is recorded as contra entry?

The balance in the petty cash book is_____.

Petty Cash may be used to pay __________

Impact of computer is seriously felt in accounting more than any other department of the ___________

Computerised accounting system refers to the system of maintaining accounts using ___________

Computerised accounting system facilitates the management and other users to maintain accounts and prepare _____________

______________ can perform functions at much higher speed than the speed of human beings.

_____________ is free from tiredness and lack of concentration.

Cash book is a_______

When a firm maintains a simple cash book, it need not maintain_______.

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

If the debit and credit aspects of a transaction are recorded in the cash book, it is ______.

Small payments are recorded in a book called_____.

What is financial accounting?

What is cost accounting?

What is sales?

Who is a proprietor?

What is meant by drawings?

A bank reconciliation statement is prepared by ______.

Debit balance in the bank column of the cash book means _______.

A bank reconciliation statement is prepared to know the causes for the difference between:

Which of the following is not the salient feature of bank reconciliation statement?

Balance as per bank statement is Rs. 1,000. Cheque deposited, but not yet credited by the bank is Rs. 2,000. What is the balance as per bank column of the cash book?

What do you mean by accounting cycle?

What is bad debt?

What is depreciation?

What is purchases and purchase returns?

What do you mean by solvency and Insolvency

A bank reconciliation statement is prepared with the help of ______.

A bank statement is a copy of _______.

When money is withdrawn from bank, the bank _______.

Balance as per cash book is Rs. 2,000. Bank charge of Rs. 50 debited by the bank is not yet shown in the cash book. What is the bank statement balance now?

Which one of the following is not a timing difference?

What are the conventions of accounting?

Define book-keeping according to R.N. Carter.

What do you mean by business entity concept?

What is dual aspect concept?

What is convention of conservatism?

Error of principle arises when _______.

The difference in trial balance is taken to _______.

Wages paid for installation of machinery wrongly debited to wages account is an error of _______.

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?

The total of purchases book was overcast. Which of the following accounts should be debited in the rectifying journal entry?

What do you mean by accounting cycle?

What is bad debt?

What is depreciation?

What is purchases and purchase returns?

What do you mean by solvency and Insolvency

Errors not affecting the agreement of trial balance are _______.

A transaction not recorded at all is known as an error of _______.

Which of the following errors will not affect the trial balance?

A credit purchase of furniture from Athiyaman was debited to purchases account. Which of the following accounts should be debited while rectifying this error?

Which of the following errors will be rectified using suspense account?

What are the conventions of accounting?

Define book-keeping according to R.N. Carter.

What do you mean by business entity concept?

What is dual aspect concept?

What is convention of conservatism?

If the total charge of depreciation and maintenance cost are considered, the method that provides a uniform charge is ____.

Depreciation provided on machinery is debited to ____________

Depreciation is provided on ____________

Depreciation is the process of ____________

A depreciable asset may suffer obsolescence due to______.

From which concept the basic accounting equation arises?

What is cost concept

What is business entity concept?

What is objective evidence?

What do you mean by materiality-principle?

Cash received from sale of fixed asset is credited to ____________

Depreciation is caused by ____.

For which of the following assets, the depletion method is adopted for writing off cost of the asset?

Which method shall be efficient, if repairs and maintenance cost of an asset increases as it grows older.

If the rate of depreciation is same, then the amount of depreciation under straight line method vis-à-vis written down value method will be ________.

What is Cash Receipt?

Give the Meaning of Debit note.

What is meant by external liabilities?

What is Owner's Equity? Give an equation for calculating owner's equity.

How are Personal Accounts classified?

Expenditure incurred Rs.20,000 for trial run of a newly installed machinery will be ______.

Interest on bank deposits is ______.

Amount received from IDBI as a medium term loan for augmenting working capital ______.

Revenue expenditure is intended to benefit ______.

Pre-operative expenses are ______.

What is meant by Opening Journal Entry?

How will you record Rs 5,000 paid for installation charges paid on new machine bought?

What will be the amount of capital if cash is Rs. 5,000; Furniture Rs. 10,000; Stock Rs. 20,000 and Creditors Rs. 5,000?

If the total assets of a business is Rs. 10,00,000 and outside liabilities are Rs. 2,00,000. Calculate its creditors.

If the capital of a business is Rs. 5,00,000 and outside liabilities are Rs. 2,00,000. Calculate its total assets.

Balance sheet is ______.

Carriage inwards will be shown _______.

Balance sheet shows the ________ of the business.

Salaries appearing in the trial balance is shown on the _______.

Goodwill is classified as _______.

Does debit always mean increase and credit always mean decrease?

What is the purpose of a Ledger?

What is the purpose of Balancing the ledger accounts?

Mention the following transactions on the proper side of the kumar account.

Classify the following under personal, Real and Nominal Account.

Closing stock is an item of ______.

Net profit of the business increases the ______.

Bank overdraft should be shown _______.

Drawings appearing in the trial balance is _______.

Current assets does not include _______.

Write short notes on 'Nil Balance'.

A trader has been selling goods both on cash and credit bases. Most of the goods are sold on credit. The owner has lost track of 'who has to pay how much?' Is there any quick way to get this information?

What will happen if an account debited or credited is left out while posting from journal to ledger?

What will happen to the ledger account postings? Do you think that it will continue for an indefinite period of time? Where will the accounting process stop?

What is a Loose-Leaf Ledger?

Is Trial balance an account or a statement?

Is it correct to say that trial balance facilitates the preparation of financial statements?

What will be the effect on trial balance if purchases return of Rs. 10,000 has been wrongly posted to the debit of sales return account but correctly entered in the customer's account?

Trial Balance is a link between the ledger and final accounts. Explain.

Definition of trial balance.

Do you think that the ledger account postings are error free? If not, how do you make sure that the entries are correct?

Analyse the Trial Balance. Can you identify accounts that have only debit balances/credit balances always?

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

Explain the principle on which the agreement of trial balance is based.

Name the different kinds of errors ..

What is Subsidiary book?

What is Bills?

What is trade discount?

What is drawing a bill?

What is due date?

A prepayment of insurance premium will appear in ______.

Net profit is ______.

Closing stock is valued at ______.

Accrued interest on investment will be shown______.

If there is no existing provision for doubtful debts, provision created for doubtful debts is ______.

Do you think the supplier will accept the debit note sent by the customer, as it is? If not, why will he not accept?

Write notes on retiring of a bill.

Write notes on renewal of a bill of exchange.

What is Journal proper? For what purpose it is used?

What is meant by Noting?

Give any two Examples for a Contra Enty.

Give the specimen of 'Three column Cash book'.

Cash column of the cash book will always have a debit balance. Why?

Bank column of the cash book can have credit balance. Why?

Can there be a credit balance in a simple cash book? State with reasons.

What is sundries?

Give a specimen of 'triple column cash book'.

What is receipts?

What is personal accounts?

Give a specimen of analytical petty cash book.

Customised accounting software is suitable for _______.

An example of output device is _______.

Which one of the following is not a method of codification of accounts?

People who write codes and programes are called as _______.

Accounting software is an example of _______.

In accounting, computer is commonly used in the following areas:

Which one is not a component of computer system?

An example of output device is _______.

One of the limitations of computerised accounting system is _______.

TALLY is an example of _______.

Define accounting.

List any two functions of accounting.

What are the steps involved in the process of accounting?

Who are the parties interested in accounting information?

Name any two bases of recording accounting information.

What are source documents?

What is accounting equation?

What is meant by journalising?

How are personal accounts classified?

Give the golden rules of double entry accounting system.

What is a ledger?

What is meant by posting?

What is debit balance?

What is credit balance?

What is balancing of an account?

What is trial balance?

Give the format of trial balance.

What are the methods of preparation of trial balance?

State whether the balance of the following accounts should be placed in the debit or the credit column of the trial balance
(i) Carriage outwards
(ii) Carriage inwards
(iii) Sales
(iv) Purchases
(v) Bad debts
(vi) Interest paid
(vii) Interest received
(viii) Discount received
(ix) Capital
(x) Drawings
(xi) Sales returns
(xii) Purchase returns

State whether the balance of each of the following accounts should be placed in the debit or the credit column of the trial balance.
1) Sundry debtors
2) Creditors
3) Cash in hand
4) Bank overdraft
5) Salary
6) Discount allowed
7) Plant and machinery
8) Furniture

What is purchases returns book?

What is sales returns book?

What is credit note?

Define bill of exchange.

What is an invoice?

Mention four types of subsidiary books.

What is purchases returns book?

What is sales returns book?

What is credit note?

Define bill of exchange.

What is cash book?

What is simple cash book?

What is double column cash book?

What is three column cash book?

What is trade discount?

What are the different types of cash book?

Give the format of 'Single column cash book'

Give the format of 'Double column cash book'.

What is cash discount?

What is a petty cash book?

What is meant by bank overdraft?

What is bank reconciliation statement?

State any two causes of disagreement between the balance as per bank column of cash book and bank statement.

Give any two expenses which may be paid by the banker as per standing instruction.

Substitute the following statements with one word/phrase
(a) A copy of customer's account issued by the bank
(b) Debit balance as per bank statement
(c) Statement showing the causes of disagreement between the balance as per cash book and balance as per bank statement

The following errors were detected before preparation of trial balance. Rectify them.
(a) Purchases returns book is undercast by Rs. 500.
(b) Purchases returns book is overcast by Rs. 600.
(c) Sales returns book is undercast by Rs. 700.
(d) Sales returns book is overcast by Rs. 800.

The following errors were detected before preparation of trial balance. Rectify them.
(a) The total of rent received account is carried forward Rs. 900 short.
(b) The total of rent received account is carried forward Rs. 1,000 excess.
(c) The total of salary account is carried forward Rs. 1,100 short.
(d) The total of salary account is carried forward Rs. 1,200 excess

What is meant by error of principle?

What is meant by error of complete omission?

State the account/s affected in each of the following errors:
(a) Goods purchased on credit from Saranya for Rs.150 was posted to the debit side of her account.
(b) The total of purchases book Rs.4,500 was posted twice.

Rectify the following errors before the preparation of trial balance:
(a) Returns outward book was undercast by Rs.2,000
(b) Returns inward book total was taken as Rs.15,000 instead of Rs.14,000
(c) The total of the purchases account was carried forward Rs.100 less

Rectify the following errors before preparing trial balance:
(a) The total of purchases book was carried forward Rs.90 less.
(b) The total of purchases book was carried forward Rs.180 more.
(c) The total of sales book was carried forward Rs.270 less.
(d) The total of sales returns book was carried forward Rs.360 more.
(e) The total of purchase returns book was carried forward Rs.450 less.

Rectify the following errors after preparation of trial balance:
(a) Salary paid to Ram Rs.1,000 was wrongly debited to his personal account.
(b) A credit sale of goods to Balu for Rs.450 was debited to Balan.

Give journal entries to rectify the following errors discovered after the preparation of trial balance:
(a) Purchases book was overcast by Rs.10,000.
(b) Repairs to furniture of Rs.500 was debited to furniture account.
(c) A credit sale of goods to Akilnilavan for Rs.456 was credited to his account as Rs.654.

The following errors were located after the preparation of trial balance. Pass journal entries to rectify them. Assume that there exists a suspense account.
(a) The total of sales book was undercast by Rs.350.
(b) The total of the discount column on the debit side of cash book Rs.420 was not posted.
(c) The total of one page of the purchases book of Rs.5,353 was carried forward to the next page as Rs.5,533.
(d) Salaries Rs.2,400 was posted as Rs.24,000.
(e) Purchase of goods from Sembiyanmadevi on credit for Rs.180 was posted to her account as Rs.1,800

List out the various methods of depreciation.

What is annuity method?

A firm purchased a plant for Rs. 40,000. Erection charges amounted to Rs. 2,000. Effective life of the plant is 5 years. Calculate the amount of depreciation per year under straight line method

Furniture was purchased for Rs. 60,000 on 1-7-2016. It is expected to last for 5 years. Estimated scrap at the end of five years is Rs. 4,000. Find out the rate of depreciation under straight line method.

A boiler was purchased on 1st January 2015 from abroad for Rs. 10,000. Shipping and forwarding charges amounted to Rs. 2,000. Import duty Rs 7,000 and expenses of installation amounted to Rs. 1,000. Calculate depreciation for the first 3 years @ 10% p.a. on diminishing balance method assuming that the accounts are closed 31^st December each year.

An asset is purchased for Rs. 50,000. The rate of depreciation is 15% p.a. Calculate the annual depreciation for the first two years under diminishing balance method.

A furniture costing Rs 5,000 was purchased on 1.1.2016, the installation charges being Rs 1,000. The furniture is to be depreciated @10% p.a. on the diminishing balance method. Pass journal entries for the first two years.

On 1.1.2017 a firm purchased a machine at a cost of Rs.1,00,000. Its life was estimated to be 10 years with a scrap value of Rs.10,000. Compute the amount of depreciation to be charged at the end of each year.

From the following information, calculate the amount of depreciation and rate of depreciation under straight line method.
Purchase price of machine Rs.2,00,000
Expenses to be capitalised Rs.50,000
Estimated residual value Rs.15,000
Expected useful life 5 years

Calculate the amount of depreciation and depreciation rate from the following by using ‘straight line method’. Also give journal entries for the first two years. The books are closed on 31st December every year.

State whether the following are capital, revenue or deferred revenue expenditure.
i) Carriage of Rs.1,000 spent on machinery purchased and installed.
ii) Office rent paid Rs.2,000.
iii) Wages of Rs.5,000 paid to machine operators.
iv) Hire charges for the use of motor vehicle, hired for five years, but paid yearly.

Classify the following expenses as capital or revenue.
i) The sum of Rs.3,200 has been spent on a machine as follows:
a) Rs.2,000 for additions to double the output.
b) Rs.1,200 for repairs necessitated by negligence.
ii) Overhauling expenses of Rs.25,000 for the engine of a motor car to get better fuel efficiency.

What is meant by revenue expenditure?

What is capital profit?

What is meant by deferred revenue expenditure?

State with reasons whether the following are capital or revenue or deferred revenue expenditure:
i) Advertisement expenses amounted to Rs.10 crores to introduce a new product.
ii) Expenses on freight for purchasing new machinery.
iii) Freight and insurance on the new machinery and cartage paid to bring the new machinery to the factory.

State whether the following are capital or revenue items.
i. Rs.5,000 spent towards additions to buildings.
ii. Second-hand motor car purchased for Rs.30,000 and paid Rs.2,000 as repairs immediately.
iii. Rs.10,000 was spent on painting the new factory.
iv. Freight and cartage on the new machine Rs.150, erection charges Rs.200.
v. Rs.150 spent on repairs before using a second hand car purchased recently.

Classify the following expenditures and receipts as capital or revenue:
i) Rs.10,000 spent as travelling expenses of the directors on trips abroad for the purchase of fixed assets.
ii) Amount received from trade receivables during the year.
iii) Amount spent on demolition of building to construct a large building on the same site.
iv) Insurance claim received on account of a machinery damaged by fire.

What is capital expenditure?

Write a short note on revenue receipt.

What are fixed assets?

Name any two direct expenses and indirect expenses.

What are the objectives of preparing trading account?

Prepare trading account in the books of Sivashankar from the following figures

From the following balances taken from the books of Victor, prepare trading account for the year ended December 31, 2017:

Compute cost of goods sold from the following information:

What are wasting assets?

What is meant by purchases returns?

Mention any two differences between trial balance and balance sheet.

What is the need for preparing profit and loss account?

What are adjusting entries?

What is outstanding expense?

What is prepaid expense?

What are accrued incomes?

What is provision for discount on debtors?

What is CAS?

What is meant by software?

Name any two accounting packages.

What is coding?

What are mnemonic codes?

What is a computer?

What is hardware?

What is accounting software?

Give any two examples of readymade software.

What is grouping of accounts?

Explain the meaning of accounting.

Discuss briefly the branches of accounting.

Discuss in detail the importance of accounting

Why are the following parties interested in accounting information?
(i) Investors
(ii) Government

Discuss the role of an accountant in the modern business world.

What are the three different types of personal accounts?

State the principles of double entry system of book keeping.

What is double entry system? State its advantages.

Show the accounting equation on the basis of the following transactions:
i) Ramya started business with Cash   Rs.25,000
ii) Purchases goods from Harsha   Rs.20,000
iii) Sold goods to Amala costing Rs.18,000    Rs.25,000
iv) Ramya withdrew from business   Rs.5,000

Classify the following into personal, real and nominal accounts.
(a) Capital
(b) Building
(c) Carriage inwards
(d) Cash
(e) Commission received
(f) Bank
(g) Purchases
(h) Chandru
(i) Outstanding wages

What is an Account? Classify the accounts with suitable examples.

What is the accounting treatment for insurance premium paid on the life of the proprietor?

Briefly explain about steps in journalising.

Complete the accounting equation.

Show the accounting equation on the basis of the following:
(a) Started business with cash Rs 60,000
(b) Goods bought on credit from Ramesh Rs 20,000
(c) Purchased furniture for cash Rs 15,000
(d) Paid creditors by cash Rs 500

Distinguish between journal and ledger.

What is ledger? Explain its utilities.

How is posting made from the journal to the ledger?

Explain the procedure for balancing a ledger account.

The following balances appeared in the books of Vinoth on Jan1, 2018
Assets: Cash Rs.40,000; Stock Rs.50,000; Amount due from Ram Rs.20,000; Machinery Rs.40,000 Liabilities: Amount of due to Vijay Rs.10000 Pass the opening journal entry an deposit them to Vinoth's Capital account.

What are the objectives of preparing trial balance?

What are the limitations of trial balance?

'A trial balance is only a prima facie evidence of the arithmetical accuracy of records'. Do you agree with this statement? Give reasons.

The following trial balance has certain errors. Redraft it.

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

Explain the meaning of imprest system of petty cash book.

Bring out the differences between cash discount and trade discount.

Write the advantages of maintaining petty cash book?

Write a brief note on accounting treatment of discount in cash book.

Briefly explain about contra entry with examples.

What is meant by the term "cheque not yet presented?"

What will be the effect of interest charged by the bank, if the balance is an overdraft?

From the following information, prepare bank reconciliation statement as on 31^st December, 2017 to find out the balance as per bank statement.

Prepare bank reconciliation statement as on 31^st December 2017 from the following information:
(a) Balance as per bank statement (pass book) is Rs.25,000.
(b) No record has been made in the cash book for a dishonour of a cheque for Rs.250.
(c) Cheques deposited into bank amounting to Rs.3,500 were not yet collected.
(d) Bank charges of Rs.300 have not been entered in the cash book.
(e) Cheques issued amounting to Rs.9,000 have not been presented for payment.

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

Give any three reasons for preparing bank reconciliation statement.

Explain why does money deposited into bank appear on the debit side of the cash book, but on the credit side of the bank statement?

State the timing differences in BRS with examples.

Rony is the proprietor of Veena photos. The bank column of cash account of his business was balanced on 31^st March 2018. It showed an overdraft of Rs.12,000. The bank statement of Veena photos showed a credit balance of Rs.5,000. Prepare a bank reconciliation statement taking the following into account.
(a) The bank had directly collected dividend Rs.3,000 but was not entered in the cash book.
(b) Cheques amounting to Rs.9,000 were issued on 27^th March 2018, of which, cheques amounting to Rs.7,000 were not presented for payment before 31^st March 2018.
(c) Cheque book charges of Rs.200 debited by the bank but not recorded in cash book.
(d) Bank locker rent of Rs.1,000 debited by the bank but not recorded in cash book.

From the following information, prepare bank reconciliation statement as on 31st December, 2017 to find out the balance as per bank statement.

Which values are involved in the preparation of bank reconciliation statements?

When bank column of a cash book shows a debit balance, what does it means?

On 1^st December, 2017, the opening balance as per cash book and bank record was the same. On 2^nd December, Magesh issued a cheque for Rs. 2,000 toa supplier, but the same was entered in the credit side of the cash book as Rs. 200.

Dinesh received his salary in cash for Rs. 5,000. He credited this amount in the bank column of cash book

When can a bank reconciliation be prepared?

The following errors were located after the preparation of the trial balance. Assume that there exists a suspense account. Rectify them.
(a) Sale of goods on credit to Arun for Rs. 152 posted to his account as Rs. 125.
(b) Bought goods from Lakshmi on credit for Rs. 550, credited to her account as Rs. 505.
(c) Purchase of furniture from Abirupa for Rs. 404 on credit was debited to furniture account as Rs. 440.
(d) Purchased machinery for cash Rs. 200 was not posted to machinery account.
(e) The total of purchases book Rs. 89 was carried forward as Rs. 98.

Write a note on suspense account.

What are the errors disclosed by a trial balance?

Rectify the following errors assuming that the trial balance is already prepared and the difference was placed to suspense account:
(a) Sales book was undercast by Rs.250
(b) Purchases book was undercast by Rs.120
(c) Sales book was overcast by Rs.130
(d) Bills receivable book was undercast by Rs.75
(e) Purchases book was overcast by Rs.35.

The following errors were located by the accountant after the preparation of trial balance. There exists a suspense account. Rectify them.
(a) The total of the discount column of Rs.1,180 on the debit side of the cash book was not posted.
(b) Purchase of goods from Arivuchelvan on credit for Rs.600 was posted to the debit side of his account.
(c) The total of the discount column on the credit side of the cash book was undercast by Rs.400.
(d) The total of sales returns book of Rs.570 was posted twice.
(e) Sold goods to Mukil on credit for Rs.87 was posted to her account as Rs.78.

What is Bank Statement? (or) What is bank pass book?

What is E-Statement?

What is Alternative Presentation?

Who prepares a bank statement?

On 3^rd, DecemberDinesh was asked to deposit cash of Rs. 1,000 in cash deposit machine in order to make a payment to one of the business' supplier. He credited the same in the bank column of the cash book.

The following errors were detected before preparation of the trial balance. Rectify them.
(a) A sum of Rs. 5,000 written off as depreciation on buildings has not been posted to depreciation account.
(b) Payment of wages Rs. 2,000 to Venkat was posted twice to wages account.
(c) An amount of Rs. 250 for a credit sale of goods to Nila, although correctly entered in the sales book, has been posted as Rs. 200.

The following errors were located before the preparation of the trial balance. Rectify them.
(a) Paid Rs. 500 to Angappan were wrongly debited to Angannan’s account.
(b) Sale of furniture for Rs. 750 was credited to sales account.
(c) Purchase of goods from Bagya for Rs. 2,100 was wrongly passed through sales book.
(d) Wages Rs. 1,000 paid on erection of machinery were debited to wages account.

The following errors were located at the time of preparation of the trial balance. Pass rectifying entries.
(a) Goods of the value of Rs. 100 returned by Bhuvana were included in stock, but no entry was made in the books.
(b) Sale of goods to Mani on credit for Rs. 475 has been wrongly entered in the sales book as Rs. 745.
(c) A cheque of Rs. 500 received from Sandhiya was dishonoured and debited to allowances account.
(d) A sum of Rs. 300 drawn by the proprietor for personal use was debited to wages account.

Write a note on error of principle by giving an example.

What are the errors not disclosed by a trial balance?

What is error of omission?

What is error of commission?

Is it necessary that a suspense account will balance off after rectification of the errors detected by the accountant? If not, then what happens to the balance still remaining in suspense account?

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

What do you mean by errors?

State the advantages and limitations of straight line method of depreciation.

Distinguish between straight line method and written down value method of providing depreciation.

Calculate the rate of depreciation under straight line method.
Purchase price of a machine Rs. 80,000
Expenses to be capitalised Rs. 20,000
Estimated residual value Rs. 4,000
Expected useful life 4 years

A firm purchased a plant on 1.1.2018 for Rs.9,000 and spent Rs.1,000 as erection charges. Calculate the amount of depreciation for the year 2018 @ 15% per annum under the written down value method. Accounts are closed on 31st March every year.

On 1st April 2015, Kumar purchased a machine for Rs.80,000 and spent Rs.20,000 on its installation. The residual value at the end of its expected useful life of 8 years is estimated at Rs.4,000. On 30th September 2017, the machine is sold for Rs.50,000. Depreciation is to be provided according to straight line method. Prepare Machinery Account. Accounts are closed on 31st December every year.

What is scrap value of an asset?

What do you mean by a depreciable asset? 

State any two merits of Straight line method.

An asset was purchased for Rs. 1,00,000. The rate of depreciation is 10% per annum. Calculate the annual depreciation for the first two years under the diminishing balance method .

A machine was purchased for Rs. 1,00,000 on 1^st January, 2012. It was decided to depreciate it at 10% per annuin under straight line method. Prepare machinery account for 3 years. Accounts are closed on 31^st December, each year.

What are the causes for depreciation?

State the advantages and limitations of written down value method of depreciation.

Calculate the rate of depreciation under straight line method from the following information
Purchased a second hand machinery on 1.1.2018 for Rs. 38,000
On 1.1.2018 spent Rs. 12,000 on its repairs
Expected useful life of machine is 4 years
Estimated residual value Rs. 6,000

Machinery was purchased on 1^st January 2015 for Rs. 4,00,000. Rs. 15,000 was spent on its erection and Rs. 10,000 on its freight charges. Depreciation is charged at 10% per annum on straight line method. The books are closed on 31^st March each year. Calculate the amount of depreciation on machinery for the first two years.

Joy and Co. purchased machinery on 1st April 2016 for Rs.75,000. On 31st March 2018, it sold the machinery for Rs.62,000. Depreciation is to be provided every year at 10% per annum on the fixed instalment method. Accounts are closed on 31st March every year. Find out the profit or loss on sale of machinery.

What is original cost method of providing depreciation?

On1^stJanuary 2013,acompany purchased a machine for Rs. 25,000. The estimated life of the machine 10 years after which is breakup value will be Rs. 5,000. Find out the amount of annual depreciation under Fixed Instalment Method.

Abdul purchased a Machinery on 1^st April for 2,00,000. After' having used it for three years it was sold for 1,60,000. Depreciation is to be provided at the rate of 10% on diminishing Balance method. Accounts are closed on' 31^st March of every year. Find out the Profit or ·Loss on sale of Machinery.

A machine was purchased for Rs. 30,000 on 1st January, 2014. It is expected to last for 5 years. Estimated scrap at the end of five/years is Rs. 5,000. Find out the rate of depreciation under original cost method.

A Company purchased a plant for Rs. 1,00,000. The useful life of the plant is 5 years and the residual value is Rs. 10,000. Find out the rate of depreciation under fixed percentage on original cost method.

What is meant by grouping and marshalling of assets and liabilities?

From the following details for the year ended 31st March, 2018, prepare trading account.

Compute cost of goods sold from the following information:

Prepare profit and loss account in the books of Kirubavathi for the year ended 31st December, 2016 from the following information:

From the following particulars, prepare balance sheet in the books of Bragathish as on 31st December 2017:

Explain the features of revenue expenditure.

Any two examples of deferred revenue expenditure.

Write a note on capital receipt. Give any two examples.

What is Revenue profit?

Write a short note on:
a) Capital Loss
b) Revenue Loss

Prepare trading account for the year ended 31^st December 2017, from the following balances:

Closing stock is valued at Rs. 6, 00,000.

Find out the amount of sales from the following information.

From the following information, prepare profit and loss account for the year ended 31st December, 2017.

What are final accounts? What are its constituents?

What is meant by gross profit and net profit?

Definition of trading account.

What do you mean by direct expenses?

Prepare a trading account of Mr. Velu from the following figures:

Prepare a trading account of Mrs. Divya for the year ended 31^st December 2017.

If 'adjusted purchases' and 'closing stock' are given in the trial balance, will you transfer 'closing stock' to trading account? Give reason.

Pass adjusting entries for the following on 31st March, 2018.
(i) Charge interest on drawings at Rs. 50
(ii) Write off bad debts by Rs. 500
(iii) Depreciate furniture by Rs. 1,000

Sundry debtors as per trial balance Rs. 26,000
Bad debts as per trial balance Rs. 1,000
Adjustment: Additional bad debts amounted to Rs. 2,500
Give adjusting entry and show how these appear in the final accounts on 31^st March, 2016

What is meant by provision for doubtful debts? Why is it created?

Give the adjusting entries for interest on capital and interest on drawings.

The following are the extracts from the trial balance.

You are required to show how these items will appear in the profit and loss account and balance sheet.

What are the features of deferred revenue expenditure?

What is Capital profits?

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.

State the nature of the following transactions.
i) Expenditure incurred on issue of equity shares.
ii) Cost of formation of anew company.
iii) Cost of Rs.10,000 incurred in increasing the sitting accommodation and Rs.5,000 in repainting of cinema house.

What is capital receipt?

Show necessary entries to adjust the following on 31st December, 2017.
(i) Outstanding salaries Rs. 1,200
(ii) Outstanding rent Rs. 300
(iii) Prepaid insurance premium Rs. 450
(iv) Interest on investments accrued Rs. 400
(v) Bad debts written off Rs. 200

Sundry debtors as per trial balance as on 31^st March, 2016 is Rs. 10,000.
Adjustment: Write off bad debts amounting to Rs. 300.
Give adjusting entry and show how these appear in the final accounts as on 31^st March, 2016.

What is the need for preparing final accounts?

Explain how closing stock is treated in final accounts.

Explain the accounting treatment of bad debts, provision for doubtful debts and provision for discount on debtors.

What is Wages?

What do you mean by closing stock?

Definition of profit and loss account.

Is it true that Profit and loss account shows the financial position of the enterprise?

Is it true that profit and loss account is a point statement whereas a balance sheet is a period statement?

Find out from the following data, minimum collection of Rs.500 on any one day achieved by the sales counters.

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 various types of accounting software?

State the various types of coding methods.

State the input and output devices of a computer system.

What is Income received hi advance?

What is Interest on loan?

What is depreciation?

What is Bad debts?

Pass Adjusting entries for the following adjustments.
a) Provide 6% Interest on Capital of Rs. 16,00,000
b) Rent received in advance Rs. 5,000
c) Interest accrued on investments Rs. 2,000

The following are the scores obtained by some students in a competitive examination. Find out the average, the highest and the lowest score using appropriate function in spreadsheet.

There are three salesmen. Two days of sales achievement is given. You are required to find out the salesmen who have achieved a minimum sale of Rs.400 on each day.

Following is the list of students and percentage of marks obtained by them. If a student has secured a minimum of 50%, he is declared pass, else fail.

Mr. Vivek took a loan of Rs.2,00,000 from State Bank of India, Chennai and number of instalments is 84 months. Calculate the rate assuming payments Rs.3,300 per month using the appropriate function.

Mention any three limitations of computerised accounting system.

Give adjusting entry for depreciation at 10% p.a. on machinery of Rs.25,000.

How will the following adjustment appear in the balance sheet as on 31-12-2010?
Sundry Debtors Rs.21,000
Bad debts to be written off Rs.1,000
Provide 5% provision for bad and doubtful debts and 2% provision for discount on debtors.

Goods worth Rs.3,00,000 were burnt by fire and claim of Rs.1,80,000 has been accepted by the insurance company. How It will be recorded in final accounts

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

If unearned income is credited to the profit and loss account would it be correct?

What is output?

Name the framework of storage and processing of data, in a computerised accounting system.

State the relationship between information and decision.

Language syntax is checked by which software?

There are people, who write programs to implement the data processing system design. Name them.

Give two examples each of the organisation whereready-to-use, 'customised' and 'tailored' accounting packages respectively are suitable to perform the accounting activity.

Expands of MIS and CPU.

Mention any two features of CAS.

What is utility software?

What is system operators?

What are the informational needs of internal users?

Explain the objectives of Accounting?

What is the process of accounting?

Non-monetary transactions are not recorded in the books of accounts. Give reason and explain

Is accounting an art or a Science?

Write a note on (a) purchases, (b) sales.

What is the difference between cash transaction and credit transactions?

What is the difference between voucher and invoice?

Explain the external users of accounting.

Describe the various steps involved in accounting process?

What are the limitations of Book keeping

What do you mean by IFRS?

What are the basic concepts of accounting?

Explain the Process of Accounting cycle.

What are the objectives of book-keeping?

What is the need for accounting standards?

Do you think that the principle of conservatism results in creating of secret reserve?

Which value is reflected in the Accounting standards issued by ICAI?

How does matching principle apply to depreciation?

"Despite many advantages, double entry system also has some disadvantages". In the light of this statement discuss the advantages of double entry system.

Write the transactions from the Journal Entries
Interest A/c  Dr
To Bank Loan A/c

Write the transactions from the Journal Entries
Cash A/c Dr.
Discount Alc Dr.
To Aravind A/c

Write the transactions from the Journal Entries.
Loss by fire A/c
To Purchases A/c

Write the transactions from the Journal Entries.
Cash A/c Dr
To Bad debts recovered A/c

Write the transactions from the Journal Entries.
Drawings A/c   Dr
To Purchases

Explain the features of double entry system.

Explain the meaning of source documents

Explain the meaning of Accounting Equation.

Explain the. rules for journalising.

Bring out the advantages and the limitations of journal.

'Ledger is a principal Book of a Business' - Explain.

Post the following transactions direct into ledger of Akbar.

Explain the significance of debit and credit balances of various types of accounts.

What are the steps in posting?

Explain the posting of a compound journal entry with an example.

From the following balances extracted from the books of Mrs. Kokila, prepare trial balance as on 31.03.2017.

Explain the various methods of preparing trial balance.

Explain the need for preparing trial balance.

Explain the features of trial balance.

What is Suspense Account? When is it opened?

Whatis the need for preparing trial balance?

What are the features of trial balance?

Prepare the Trial balance from the following balances of Radha Krishnan as on 31.03.2016.

Prepare the trial balance from the following-balances of Ms Chitra as on 31.03.2015.

From the following balances extracted from the books of Mr Kannan at trader on automobiles, prepare trial balance as on 31^st March 2017.

What are the difference between Cash Discount and Trade Discount?

What are the features of a bill of exchange?

Write a note on
(i) Bills Receivable Book
(ii) Bills Payable Book.

Write Short notes on 
(i) Renewal of a bill
(ii) Retiring of a BiII.

Explain any three advantages of subsidiary books.

What are the various types of subsidiary books?

Write notes on closing entries.

Write notes on rectifying entries.

Explain the purposes of various subsidiary books.

Explain the purpose of journal proper with examples.

Enter the following transactions in Cash book with Cash and Discount column of Mr. Nandakumar.

When his business becomes large, what other books will he be maintaining?

What is cash book? What are its features?

Write notes on posting the petty cash book.

What purpose does an analytical petty cash book serve?

What are the importance of cash book?

Explain the types of petty cash books?

From the following particulars, prepare Single column Cash book of Ms. Kokila                 

Enter the following transactions in a Single column Cash book of Mr. Kumaran.

Prepare a double column cash book from the following transactions of Mr. Gopalan.

What is the need for bank reconciliation Statement?

Explain the differences arising due to errors in recording the entries

List the five items having the effect of higher balance in the Cash book.

List the five items having the effects of lower balance in the Pass book

What are the causes of difference between bank column of the cash book and bank statement?

What are the causes of difference between bank column of the cash book and bank statement?

From the following information, prepare bank reconciliation statement to find out balance as per bank statement on 31^st March 2017.

Imagine that you are the owner of a small shop. You maintain the three column cash book for your business. Now, think on the following points and discuss with the whole class:
• How often would you check your cash balance in hand? Everyday/once in a week?
• Why do you check your cash balance?
• How will you make sure that the bank column in cash book is correct and is the same as shown by the bank statement?

Observe the above format. Why the withdrawals are shown as debit and deposits are shown as credit in a bank statement?

Remember, an item entered on the debit side of cash book is entered on the credit side of bank statement and vice-versa: Now, keep this in mind, think on the following:
Is it possible to prepare bank reconciliation statement with bank statement as starting point and ascertain the cash book balance? Prepare a specimen of bank reconciliation statement with balance as per bank statement as the starting point.

Rectify the following errors.
(i) The Sales book of December was added short by Rs. 500.
(ii) A periodical total of the Purchases book was short by Rs. 5,000.
(iii) The total of Purchases return Book has been undercast by Rs. 1,500.
(iv) The Sales return book is added Rs. 200 short.

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 types of errors at the stage of journalising?

What are the types of errors at the stage of posting?

What are the types of errors at the stage of preparing trial balance?

Following errors are discovered in the Books of Sita Ram. Make the necessary entries to rectify them.
(i) Purchases journal was Rs. 2,150.
(ii) Rs. 500 received from K. Krishna was debited to his account.
(iii) An amount of Rs. 3,000 withdrawn by the Proprietor of the firm for his personal use was posted to the Traveling expense account.
(iv) An amount of Rs. 175 for a credit sale to R. Gopalan correctly entered in the sale book, has been debited to his account as Rs. 157.

Pass the journal entries rectifying the following errors:
(i) Purchases of office furniture of Rs. 10,000 was recorded in Purchases book.
(ii) Office rent of Rs. 15,000 was debited to the personal account of the landlord.
(iii) Old machine was sold for Rs. 5,000 was credited to Sales account.

Following are some accounting errors. Rectify the same through Suspense Alc.
(i) Goods Purchased from Manohar of Rs. 2,500 has been posted to the debit of his account.
(ii) Cash of Rs. 4,500 paid to Munish was credited to Manish.
(iii) Discount Rs. 100 allowed to Anthony was not debited to discount account.

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 types of errors at the stage of posting?

Write a short note on - Insurance Policy Method

Write a short note on - Revaluation Method :

Write a short note on Machine hour rate method.

What are the Factors determining the amount of depreciation?

M/s. Shankar & Co. purchased a machinery on 01-01-2012 for Rs. 10,00,000. The firm writes off depreciation at 10% on the original cost every year. The books are closed on 31^st March every year. Pass the necessary journal entries.

Akbar & Co. purchased a Plant for Rs. 80,000 on 01-04-2001. It is Depreciated at 10% p.a. on reducing Balance method for three years. Accounts are closed on 31^st March every year. Pass the Journal Entries.

A Motor car was purchased on 1st January, 2013 for Rs. 25,000, depreciated at 10% on diminishing balance method. It was, sold for Rs.16,500 on 3^st December, 2015, Prepare motor car account. The accounts are closed on 31^st December every year.

A furniture costing Rs. 5,000 has been purchased on 1.1.2011, the installation charges being Rs. 1,000. The furniture is to be depreciated @10% p.a on the diminishing balance method. Show the furniture account and depreciation account for the first three years.

Sunil & company purchased a fixed asset on 1.4.2002 for Rs. 5,00,000. Depreciation is to be provided @ 15% per annum according to straight line method. The books are closed on 31^st March every year. Prepare fixed asset account and depreciation account for three years.

Write a note on sum of years of digits method.

What are the need for preparation of trading account?

What are the need for preparing a Balance sheet?

What are the characteristics of balance sheet?

What are the classification of assets? (any five)

Explain the types. of liabilities.

What are the difference between trial balance and balance sheet.

Prepare profit and loss account of Mrs. Nalini for the year ended 31^st December 2010 from the following:

From the following particulars, prepare a balance sheet of Mr. Moorthy as on 31^st December 2013.

The following Balances are taken from the books of M/s. Riya Ltd. Prepar Profit and Loss Account for the year ended 31^st march 2005.

From the following information prepare balance sheet of Mrs. Nasreenkhan as at 31^st December 2017.

Explain the concept of Matching Principle.

What is Credit balance?

The Trial balance shows the followings:
Capital as on 31-03-2013     Rs.6,00,000 .
Drawings as on 31-03-2013  Rs.50,000
Charge interest on drawings @ 5% pass adjusting entry. Show how this item appear in the final accounts.

From the following particulars prepare a Balance sheet of Mr. X for the year ended 31^st March, 2015.

The following adjustments are made at the time of preparing Final accounts.
(i) Outstanding Liabilities for Salaries Rs.10,000; Wages Rs. 20,000; Interest on Bank overdraft Rs. 3,000; and Interest on bank loan Rs. 6,000.
(ii) Provide Interest on capital @ 10% p.a
(iii) Depreciation on plant and machinery by 10% p.a.
(iv) Bad debts amounted to Rs. 10,000 and make a provision for Bad debts @ 10% on sundry debtors.
(v) Closing stock amounted to Rs. 1,20,000.
Net Profit for the year amounted to Rs. 96,000 after considering all the above adjustments.

Pass necessary Adjusting entries for the following adjustments:
a) Interest on loan outstanding Rs.5,000
b) Depreciation @ 5% on furniture Rs.50,000
c) Write off bad and doubtful debts Rs.3,000
d) Provide provision for bad and doubtful debts @ 5% on sundry debtors Rs.4,00,000
f) Provide provision for discount on creditors @ 2% on sundry creditors Rs.3,50,000

What are the types of people interacting with a computer system?

What is opearating system? Give two examples.

Mention any three advantages of CAS.

What are the three types, of procedures in a computer system?

Can you explain data?

Explain the types of People Interact.

Explain the three types of Procedures.

Explain the codification of accounts.

What are the types of people interacting with a computer system?

What is opearating system? Give two examples.

Narrate the evolution of accounting

Explain the Accounting cycle

Briefly explain the functions of accounting

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

Describe the informational needs of external users

Explain the meaning of Book-keeping and its features

Explain the advantages of Book-keeping.

What do you mean by accounting concepts? Explain any five concepts.

What are the differences between Book keeping and Accounting?

Explain briefly accounting conventions

Mohit has the following transactions, prepare accounting equation

Show the effects of the following business transactions on the accounting equation.

Pass Journal Entries in the books of Ragu from the following transactions:

Prepare accounting equation and balance, sheet on the basis of the following.

Journalise the follow ing transactions in the books of Tmt. Jaya. 2016

Journalise the following transactions of Mrs. Radha

Journalise the following transactions of Mr. ManL

Journalise the following in the Journal of Thiru. Gowri Shankar 2016

Record the following transactions in the journal of Tmt. Bhanumathi.

Journalise the following transactions in the books of Thiru. Kalyanasundaram.

Journalise the following transactions of Mr. Ravi and post them in the ledger and balance the same.

Journalise the following transactions in Tmt. Rani's Journal and post them to ledger.

Journalise the following transactions in Thiru. Kumaran books and post them to ledger.

Post the following transactions directly in the ledger.

Post the following transations direct into ledger of Mr. Ratnakumar.

Enter the following transactions in the journal and ostthem- in the ledger of Mr. Govindarajan and balance them.

Journalise the following transactions of Mr. Ravi and post them in the ledger and balance the same.

Record the following transactions in the Journal of Mr. Radhakrishnan and post them in the ledger and balance the same.

Journalise the following transactions in the Journal of Mr. Shanmugam, post them in the ledger and balance them

Journalise the following transactions in Rani's Journal and post them to ledger and balance them.

Explain the methods of preparing trial balance.

Following is the trial balance of Sudhir Chaudhary as on 31.03.2017.

From the following balances extracted from the books of Mr Gowri Sankar, a merchant of Chennai, prepare trial balance as on 31.12.2017.

Prepare trial balance as on 31.12.2017 from the following balances of Mr Balakrishnan.

Balan who has a car driving school gives you the following ledger balances. Prepare trial balance as on 31st December, 2016.

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.

From the following balances, prepare trial balance of Baskar as on 31st March 2017. Transfer the difference, if any, to suspense account.

Imagine that you start a small shop with an investment of Rs 10,000. Record imaginary business transactions for 10 days [include cash and credit transactions]. Prepare journal, ledger and trial balance with them.

Prepare Trial Balance as on 31.12.2010 from the following balances of Mr. Balan

The following balances are extracted from the books of Mr. Senthil, Prepare Trial Balance as on 30.6.2014.

From the following information, prepare necessary subsidiary books of M/s. ABC Computers:

Enter the following transactions in the appropriate special Journal of M/s. Sita & Co.

Record the following transactions in the proper subsidiary books of Mis. Sunil & Co., and cost them to the Ledger.

Enter the following transactions in proper special journal of M/s. Saveetha & Co. 2017.

Visit a stationery shop nearby. Observe its business activities for a week. After having discussed with the shop keeper, prepare a list of purchased and sold items by the shop. Record them in the appropriate books.

Record the following transactions in the proper subsidiary books of Mis. Sunil & Co., and cost them to the Ledger.

Enter the following transactions in the Purchase Book of M/s. Subhashree:
2013 March 1 Purchased 100 kg. of coffee seeds from Suresh @ Rs. 40 per kg.
5 Purchased 80 kg. of tea dust from Hari @ Rs. 20 per kg.
12 Bought from Rekha Sugars, Trichy 1,200 kg. of sugar @ Rs. 8 per kg.
18 Bought from Perumal Sweets, Chennai, 40 tins of sweets @ Rs. 200 per tin.
20 Purchased from Govinda Biscuit Company, Chennai 20 tins of biscuits @ Rs. 400 per tin.

From the following particulars prepare the sales book of Modern Furniture Mart.

Enter the following transactions in proper subsidiary books.

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.

Prepare three column cash book of Mr. Raghavan from the following transactions and balance the cash book on 30^th June 2017.

Enter the following transactions in the Triple column Cash book of Mr. Raja Durai.

Prepare Petty Cash book on imprest system from the following particulars:

Enter the following transactions in a petty cash book of Mr. Murugan maintained on imprest system with analytical columns.

Enter the following transactions in the double column cash book of Mr. Srinivasan.

Enter the following Petty transactions in the Analytical Petty Cash Book of Mr. Elangovan. 2012, October
1 Balance in hand Rs. 410 and Received from the head cashier Rs.1090
3 Paid electricity charges Rs.335
5 Bought stationery Rs.128
8 Printing charges Rs.150
9 Postage stamps purchased Rs.65
13 Repairs to furniture Rs.125
14 Telegram sent to suppliers Rs. 50
15 Repairs to computer Rs.250

Prepare petty cash book of Mr. Nandakumar with suitable columns and enter therein the following transactions.
Balance the book on 10th March 2011
2011, March 
1 Balance in hand Rs. 158 and Received from chief cashier  Rs.592
2 Paid for postage stamps Rs. 50
5 Paid for stationery Rs.105
6 Paid for carriage Rs. 65
7 Paid for postage stamps Rs. 75 and Paid for telegrams Rs.35
8 Paid for carriage Rs. 50
9 Paid for stationery Rs. 78

Enter the following transaction in the Three Column Cash Book of Mr. Albert.

Enter the following transactions in a petty cash book of Mr. Jack with analytical columns. The petty cashier begins with an imprest amount of Rs.1,000.

Prepare petty cash book on imprest system from the following particulars given below:

The Trial balance shows on 31-03-2012 Sundry debtors 1,25,000.
Adjustments:
(i) Bad debts to.be written off Rs. 5,000
(it) Provide @ 5% provision for bad and doubtful debts and
(iii) Provide @ 2% provision for Discount on debtors.
Pass entries and show how these items will appear in the Final accounts.

The following is the Trial balance extracted from the books of Mr. Mohan as on 31-12-2017. Prepare Trading and Profit and loss account and Balance sheet on 31-12-2017.

 Adjustments:
(i) Outstanding rates and taxes Rs.1,600
(ii) Insurance premium prepaid Rs.200
(iii) Maintain provision for bad and doubtful debts at 5% on debtors,
(iv) Depreciate Motor Car by 10%. Furniture by 4% and Buildings by 3%.
(v) Stock on 31-12-2017 Rs.20,000.

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

Trial balance of Anuradha agencies as on 31-03-2012.

Adjustments:
(i) Closing stock is Rs.32,000
(ii) Depreciate computer @ 10%; buildings @5%; furniture and fittings @ 10%
(iii) Provide for bad and doubtful debts @ 5% and for-discount on debtors @ 2%
(iv) Provide interest on drawings @ 6% and on capital @ 8% 
Prepare final accounts for the said period after giving effect to the adjustments.

The Balance sheet of Thapar on 1^st January 2011 was as follows:

During 2011, his Profit and loss account revealed a net profit of Rs.15,300. This was after allowing for the following:
(a) Interest on Capital @ 6% p.a.
(b) Depreciation on Plant and Machinery @ 10% and on Furniture and Fixtures @ 5%.
(c) A provision for doubtful debts @ 5% of the trade receivables as at 3pt December 2011.
But while preparing the Profit and loss account he had forgotten to provide for
(1) outstanding expenses totalling Rs.1,800 and
(2) Prepaid insurance to the extent of Rs.200.
His current assets and liabilities on 31^st December, 2011 were; Inventories Rs.14,500; Trade receivables Rs.20,000; cash at Bank Rs.10,530 and Trade payable Rs.11,400.
During the year he withdrew Rs.6,000 for domestic use, Draw up his balance sheet at the end of the year.

Explain briefly the features of computerised accounting system.

Discuss the various categories of accounting packages.

Explain the components of computerised accounting system.

Differentiate manual accounting with computerised accounting system.

Compare ready-to-use, customised and tailor-made accounting pacages.

Show the effect of following business transactions on the accounting equation.
(i) Anbu started business with cash Rs. 20,000; goods Rs. 12,000 and machine Rs. 8,000
(ii) Purchased goods from Ramani on credit . Rs. 7,000
(iii) Payment made to Ramani in full settlement Rs. 6,900
(iv) Sold goods to Rajan on credit costing Rs. 5,400 for Rs. 6,000
(v) Received from Rajan Rs. 5,800 in full settlement of his account
(vi) Wages outstanding  Rs. 400

Jeyaseeli is a sole proprietor having a provisions store. Following are the transactions during the month of January, 2018. Journalise them.

Arun is a trader dealing in automobiles. For the following transactions, pass journal entries for the month of January, 2018.

Valluvar is a sole trader dealing in textiles. From the following transactions, pass journal entries for the month of March, 2018.

Chandran is a sole trader dealing in sports items. From the following transactions, pass journal entries for the month of March, 2018

Prepare accounting equation for the following transactions.
(a) Murugan commenced business with cash Rs.80,000
(b) Purchased goods for cash Rs.30,000
(c) Paid salaries by cash Rs.5,000
(d) Bought goods from Kumar for Rs.5,000 and deposited the money in CDM.
(e) Introduced additional capital of Rs.10,000

Create an accounting equation on the basis of the following transactions:
(i) Rakesh started business with a capital of Rs.1,50,000
(ii) Deposited money with the bank Rs.80,000
(iii) Purchased goods from Mahesh and paid through credit card Rs.25,000
(iv) Sold goods (costing Rs.10,000) to Mohan for Rs.14,000 who pays through debit card
(v) Commission received by cheque and deposited the same in the bank Rs.2,000
(vi) Paid office rent through ECS Rs.6,000
(vii) Sold goods to Raman for Rs.15,000 of which Rs.5,000 was received at once

Create accounting equation on the basis of the following transactions:
(i) Opening balance on pt January, 2018 cash Rs.20,000; stock Rs.50,000 and bank Rs.80,000
(ii) Bought goods from Suresh Rs.10,000 on credit
(iii) Bank charges Rs.500
(iv) Paid Suresh Rs.9,700 through credit card in full settlement.
(v) Goods purchased on credit from Philip for Rs.15,000
(vi) Goods returned to Philip amounting to Rs.4,000

Pass journal entries in the books of Sasi Kumar who is dealing in automobiles