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Subject: Accountancy, asked 20 hours, 54 minutes ago

Sir/Ma'am, In 5th entry (sold goods to Krishna) why there is mentioned cash a/c in the solution. Means of transaction is not mentioned in the entry. Hence it should be Krishna's A/c debit to sales A/c

Subject: Accountancy, asked 2 days, 8 hours ago

Explain the following by giving proper examples:
(a) Accrual Concept
(b) Business Entity Concept
(c) Conservatism

Subject: Accountancy, asked 2 days, 8 hours ago

Materiality Principle contradicts the Principle of Full Disclosure. Do you agree with the
statement? Explain with an example.

Subject: Accountancy, asked 2 days, 8 hours ago

Accounting starts where bookkeeping ends. Elaborate this statement by giving a proper
explanation.

Subject: Accountancy, asked 2 days, 18 hours ago

There is no difference between IFRS and Accounting Standards issued by the ICAI (Institute
of Chartered Accountants of India). Do you agree with this statement? Give reasons in
support of your answer.

Subject: Accountancy, asked 2 days, 22 hours ago

Out the transactions given below, which of the following will not be recorded in the books
of account?
A. Paid Electricity Bill
B. Purchased a computer for resale
C. Purchased a motor car for personal use from personal savings
D. Purchased a machinery for manufacturing purpose

Subject: Accountancy, asked 3 days, 6 hours ago

Dinesh commenced business of trading in mobile phones with an initial amount of
? 10,00,000. He purchased a shop of ? 4,00,000 and also purchased furniture worth ?
1,20,000. He sold two mobile phones for ? 90,000 and one mobile phone to Ms. Ruhi on
credit worth ? 80,000. He also purchased 20 mobile phones on credit from Mr. Hobby
worth ? 50,000 each. He paid salaries to the employees and also paid shop rent of ? 10,000
and ? 30,000 respectively.
Another customer who purchased a mobile phone costing ? 60,000 was allowed a discount
of ? 10,000. Dinesh withdrew ? 5,000 for his kid?s birthday. There was a fire because of
which mobile phones worth ? 40,000 were destroyed..........
On the basis of above information, answer the following questions:
1. Who is Dinesh in the above scenario?
2. What would be the term used for the initial amount of ? 10,00,000? How would you
classify this amount in the books of the business?
3. How would you classify shop and furniture in the books of the firm?
4. Why are assets classified into current and non-current assets by him?
5. What would be the term used for Ms. Ruhi and Mr. Hobby in the books of the firm?
6. What kind of expenses are salaries and rent? What would you call the amount taken by
him for his kid?s birthday?

Subject: Accountancy, asked 3 days, 6 hours ago

A manufacturing concern has investments, the market value of which has declined
substantially. However, it is still showing them in its books at the cost. Which accounting
principle has been violated here?
A. Historical Cost Principle
B. Full Disclosure Principle
C. Accrual Concept
D. Prudence Concept

Subject: Accountancy, asked 3 days, 6 hours ago

Manohar paid ? 5,00,000 initially towards the purchase of stock of clothes. He then sold
? 3,00,000 of stock for ? 4,00,000 in cash and ? 50,000 of stock on credit for ? 80,000. Out
of the stock sold on credit, goods costing ? 25,000 were returned as being defective. What
will be the amount of closing stock with the firm?

Subject: Accountancy, asked 4 days, 8 hours ago

maam which all chapters will be there in the sts and it will be of how many marks ?

Subject: Accountancy, asked 6 days, 23 hours ago

Make accounting equation of this statement.

Subject: Accountancy, asked 1 week ago

Plz solve this

K D
Subject: Accountancy, asked 1 week, 2 days ago

If it is agreed between partners to share the profits in the capital ratio, current ac will be considered or capital ac?

K D
Subject: Accountancy, asked 1 week, 5 days ago

Give journal entry for v

K D
Subject: Accountancy, asked 1 week, 5 days ago

Explain the journal entry for vii

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