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Sabreen Ishteyaque
Subject: Accountancy
, asked on 14/4/22
What is accounting?
Answer
1
Siddharth
Subject: Accountancy
, asked 1 day, 13 hours ago
Remaining part of cash book
Answer
1
Siddharth
Subject: Accountancy
, asked 1 day, 13 hours ago
Cash book questions with double book
Answer
1
Nakul
Subject: Accountancy
, asked 1 week, 2 days ago
A liability under a suit for damages included in creditors was settled at Rs.32,000 as against only Rs. 13,000 provided in the books. Total creditors of the
firm were Rs. 50,000
Pass necessary journal entry
Answer
2
Siddharth
Subject: Accountancy
, asked 2 weeks, 2 days ago
Pass journal entries
k. Goods sold to Vivek of Rs. 50,000 against with 50 percent payment is made in cash. l. 75 paise paid in a rupee received out of Rs. 10,000 due from Christ on his becoming bankrupt or insolvent. m. Amount written off as bad debt fully recovered. n. Purchase of goods worth Rs. 30,000, received a cash discount of 2 percent. o. Goods costing Rs. 15,000 lost in fire, Insurance company accepted claim of Rs. 12,000 and cheque is received from the company. p. Sold household furniture for Rs. 5,000 and the proceeds were invested in the business. q. Paid Rs. 5,000 as life insurance premium of the proprietor. r. Received Rs. 19,000 from Swati on her account for Rs. 20,000. s. Received Rs. 19,000 from Bharti in settlement of her account for Rs. 20,000. t. Bricks, cement etc. for Rs. 1,50,000 purchased for the renovation of building. Payment was made by cheque.?
Answer
1
Siddharth
Subject: Accountancy
, asked 2 weeks, 2 days ago
Pass journal entries
h. Loan of Rs. 20,000 was taken again fixed deposit.
i. Cartage paid on purchases Rs. 500.
j. Interest charged by bank Rs. 200.
k. Goods sold to Vivek of Rs. 50,000 against with 50 percent payment is made in cash.
l. 75 paise paid in a rupee received out of Rs. 10,000 due from Christ on his becoming bankrupt or insolvent.
m. Amount written off as bad debt fully recovered.
n. Purchase of goods worth Rs. 30,000, received a cash discount of 2 percent.
o. Goods costing Rs. 15,000 lost in fire, Insurance company accepted claim of Rs. 12,000 and cheque is received from the company.
p. Sold household furniture for Rs. 5,000 and the proceeds were invested in the business.
q. Paid Rs. 5,000 as life insurance premium of the proprietor.
r. Received Rs. 19,000 from Swati on her account for Rs. 20,000.
s. Received Rs. 19,000 from Bharti in settlement of her account for Rs. 20,000.
Answer
1
Siddharth
Subject: Accountancy
, asked 2 weeks, 2 days ago
Pass the journal entries.
a. Amit introduced Rs. 6,00,000 capital in the business through cash Rs. 1,00,000 and balance by cheque.
b. Cash purchases worth Rs. 15,000.
c. Land purchased for Rs. 2,50,000 and payment is made by cheque.
d. Goods purchased from Harish Rs. 1,00,000.
e. Goods returned to Hari Rs. 4,000
f. Newspaper bill paid Rs. 250.
g. Cheque of Rs. 10,000 issued to Akhil.
h. Loan of Rs. 20,000 was taken again fixed deposit.
i. Cartage paid on purchases Rs. 500.
j. Interest charged by bank Rs. 200.
k. Goods sold to Vivek of Rs. 50,000 against with 50 percent payment is made in cash.
l. 75 paise paid in a rupee received out of Rs. 10,000 due from Christ on his becoming bankrupt or insolvent.
m. Amount written off as bad debt fully recovered.
n. Purchase of goods worth Rs. 30,000, received a cash discount of 2 percent.
o. Goods costing Rs. 15,000 lost in fire, Insurance company accepted claim of Rs. 12,000 and cheque is received from the company.
p. Sold household furniture for Rs. 5,000 and the proceeds were invested in the business.
q. Paid Rs. 5,000 as life insurance premium of the proprietor.
r. Received Rs. 19,000 from Swati on her account for Rs. 20,000.
s. Received Rs. 19,000 from Bharti in settlement of her account for Rs. 20,000.
t. Bricks, cement etc. for Rs. 1,50,000 purchased for the renovation of building. Payment was made by cheque.
Answer
1
Siddharth
Subject: Accountancy
, asked 2 weeks, 3 days ago
Assignment 1 : Define and explain constituents in a public issue. Also explain the role and responsibilities of each constituent as laid out by SEBI. Marks: 15
Answer
1
Ahmed
Subject: Accountancy
, asked 2 weeks, 4 days ago
The accountant CC Company extracted a trial balance as at 31 December 2020 but its totals did not agree. An income
statement for the year ended 31 December 2020 was prepared and a net profit ofTshs 479,280,000 was shown. All the errors made in 2020 were discovered in the following year.
(i)???? Discounts ofTshs.840,000 allowed to a debtor, H Tong, had been posted to the wrong side of the discounts allowed account.
(ii)?? The debit side of the rent account had been undercast byTshs.1,000,000.
(iii) A purchase invoice ofTshs.279,000 had been completely omitted from the books.
(iv) A total of Tshs.12,800,000 paid for wages had been incorrectly debited to the buildings account.
(v)?? A receipt of dividend, Tshs.390,000 had been correctly entered in the cash book but nowhere else.
(vi) A payment of Tshs.1,566,000 to a creditor, D Chen, had been entered in D Chan?s account.
(vii) A payment for motor expenses of Tshs.380,000 had been entered in the motor vehicles account. Depreciation had been charged on motor vehicles at 10% per annum on cost.
(viii)? Returns from customer amounting toTshs1,999,000 had been entered in the personal accounts only.
(ix) A receipt of Tshs.940,000 from a debtor, C Bau, had been correctly recorded in the cash book, but had been posted to her personal account as Tshs. 490,000.
(x)?? A petty cash balance of Tshs.116,000 had been omitted from the trial balance. You are required to:
(a)????? Show the journal entries to correct the errors. (Narrations are not required.)
(b)????? Show the corrections in the suspense account.
(c)????? Calculate the correct figure of net profit for the year ended 31 December 2020.
Answer
1
Siddharth
Subject: Accountancy
, asked 2 weeks, 4 days ago
write notes on the following
1. Financial markets
2.Capital markets
3.Money markets
4. Equity market
5.Debt market
6.Commodity derivatives markets?
Answer
1
Sonu Kumar
Subject: Accountancy
, asked 2 weeks, 5 days ago
Suresh and Ramesh were partners in a firm sharing profits in the ratio 5:3. Their fixed capitals on 1.4.2010. were Suresh ?80,000and Ramesh ?1,00,000. They agreed to allowed interest on Capital @12% per annum and to charge on drawings @15% per annum. The Firm earned a profit, before all Above adjustment of ?14,040 for the year ended .31.3.2011. . The drawings of Suresh and Ramesh during the year were ?6,000 and ?10,000 respectively. Showing your calculation clearly, prepare Profit and Loss Appropriation Account of Suresh and Ramesh. The interest on Capital will be allowed even if firm incurs a loss.?
Answer
1
Siddharth
Subject: Accountancy
, asked 2 weeks, 5 days ago
Pls give the multiple choice questions of accounting standards with answers for BBA Students.
Answer
1
Siddharth
Subject: Accountancy
, asked 2 weeks, 5 days ago
Give the answer of true and false
Answer
1
Asher Saji Abraham
Subject: Accountancy
, asked 3 weeks ago
On April 1, 2020, X Ltd. issued, 30,000, 12% debenture of 100 each at premium of 10% to be redeemable at a premium of 5%, after 5 years. The entire amount was payable on application. The securities premium amount has not been utilized for any other purpose during the year.
You are required to answer the following questions: 1) Pass journal entry for allotment of debentures
ii) Pass journal entry to write off Loss on Issue of Debentures
iii) What is the amount received for debentures?
iv) Prepare Loss on Issue of Debentures Account.
v) What will be the amount of Interest on debenture for the year ended 31st March 2021?
Answer
1
Nokwazi
Subject: Accountancy
, asked 3 weeks, 1 day ago
Explain to Jankies what and why the existing shareholders and financial insitutions are interested in the financial statements of a company and the opinion expressed by auditors
Answer
1
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firm were Rs. 50,000
Pass necessary journal entry
k. Goods sold to Vivek of Rs. 50,000 against with 50 percent payment is made in cash. l. 75 paise paid in a rupee received out of Rs. 10,000 due from Christ on his becoming bankrupt or insolvent. m. Amount written off as bad debt fully recovered. n. Purchase of goods worth Rs. 30,000, received a cash discount of 2 percent. o. Goods costing Rs. 15,000 lost in fire, Insurance company accepted claim of Rs. 12,000 and cheque is received from the company. p. Sold household furniture for Rs. 5,000 and the proceeds were invested in the business. q. Paid Rs. 5,000 as life insurance premium of the proprietor. r. Received Rs. 19,000 from Swati on her account for Rs. 20,000. s. Received Rs. 19,000 from Bharti in settlement of her account for Rs. 20,000. t. Bricks, cement etc. for Rs. 1,50,000 purchased for the renovation of building. Payment was made by cheque.?
h. Loan of Rs. 20,000 was taken again fixed deposit.
i. Cartage paid on purchases Rs. 500.
j. Interest charged by bank Rs. 200.
k. Goods sold to Vivek of Rs. 50,000 against with 50 percent payment is made in cash.
l. 75 paise paid in a rupee received out of Rs. 10,000 due from Christ on his becoming bankrupt or insolvent.
m. Amount written off as bad debt fully recovered.
n. Purchase of goods worth Rs. 30,000, received a cash discount of 2 percent.
o. Goods costing Rs. 15,000 lost in fire, Insurance company accepted claim of Rs. 12,000 and cheque is received from the company.
p. Sold household furniture for Rs. 5,000 and the proceeds were invested in the business.
q. Paid Rs. 5,000 as life insurance premium of the proprietor.
r. Received Rs. 19,000 from Swati on her account for Rs. 20,000.
s. Received Rs. 19,000 from Bharti in settlement of her account for Rs. 20,000.
a. Amit introduced Rs. 6,00,000 capital in the business through cash Rs. 1,00,000 and balance by cheque.
b. Cash purchases worth Rs. 15,000.
c. Land purchased for Rs. 2,50,000 and payment is made by cheque.
d. Goods purchased from Harish Rs. 1,00,000.
e. Goods returned to Hari Rs. 4,000
f. Newspaper bill paid Rs. 250.
g. Cheque of Rs. 10,000 issued to Akhil.
h. Loan of Rs. 20,000 was taken again fixed deposit.
i. Cartage paid on purchases Rs. 500.
j. Interest charged by bank Rs. 200.
k. Goods sold to Vivek of Rs. 50,000 against with 50 percent payment is made in cash.
l. 75 paise paid in a rupee received out of Rs. 10,000 due from Christ on his becoming bankrupt or insolvent.
m. Amount written off as bad debt fully recovered.
n. Purchase of goods worth Rs. 30,000, received a cash discount of 2 percent.
o. Goods costing Rs. 15,000 lost in fire, Insurance company accepted claim of Rs. 12,000 and cheque is received from the company.
p. Sold household furniture for Rs. 5,000 and the proceeds were invested in the business.
q. Paid Rs. 5,000 as life insurance premium of the proprietor.
r. Received Rs. 19,000 from Swati on her account for Rs. 20,000.
s. Received Rs. 19,000 from Bharti in settlement of her account for Rs. 20,000.
t. Bricks, cement etc. for Rs. 1,50,000 purchased for the renovation of building. Payment was made by cheque.
statement for the year ended 31 December 2020 was prepared and a net profit ofTshs 479,280,000 was shown. All the errors made in 2020 were discovered in the following year.
(i)???? Discounts ofTshs.840,000 allowed to a debtor, H Tong, had been posted to the wrong side of the discounts allowed account.
(ii)?? The debit side of the rent account had been undercast byTshs.1,000,000.
(iii) A purchase invoice ofTshs.279,000 had been completely omitted from the books.
(iv) A total of Tshs.12,800,000 paid for wages had been incorrectly debited to the buildings account.
(v)?? A receipt of dividend, Tshs.390,000 had been correctly entered in the cash book but nowhere else.
(vi) A payment of Tshs.1,566,000 to a creditor, D Chen, had been entered in D Chan?s account.
(vii) A payment for motor expenses of Tshs.380,000 had been entered in the motor vehicles account. Depreciation had been charged on motor vehicles at 10% per annum on cost.
(viii)? Returns from customer amounting toTshs1,999,000 had been entered in the personal accounts only.
(ix) A receipt of Tshs.940,000 from a debtor, C Bau, had been correctly recorded in the cash book, but had been posted to her personal account as Tshs. 490,000.
(x)?? A petty cash balance of Tshs.116,000 had been omitted from the trial balance. You are required to:
(a)????? Show the journal entries to correct the errors. (Narrations are not required.)
(b)????? Show the corrections in the suspense account.
(c)????? Calculate the correct figure of net profit for the year ended 31 December 2020.
1. Financial markets
2.Capital markets
3.Money markets
4. Equity market
5.Debt market
6.Commodity derivatives markets?
You are required to answer the following questions: 1) Pass journal entry for allotment of debentures
ii) Pass journal entry to write off Loss on Issue of Debentures
iii) What is the amount received for debentures?
iv) Prepare Loss on Issue of Debentures Account.
v) What will be the amount of Interest on debenture for the year ended 31st March 2021?