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प्रश्न
Bank overdraft should be shown ______.
विकल्प
In the trading account
Profit and loss account
On the liabilities side
On the assets side
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उत्तर
Bank overdraft should be shown on the liabilities side.
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संबंधित प्रश्न
Answer in One Sentence:
What is Depreciation?
Give a word, term, or phrase which can substitute the following statement:
Statement of Assets & Liabilities.
Give a word, term, or phrase which can substitute the following statement:
An additional information provided below the Trial Balance.
Select the most appropriate alternatives given below and rewrite the sentence :
______________ is a statement which shows the financial position of business on a specific date.
Select the most appropriate alternatives given below and rewrite the sentence :
State True or False with reasons :
In every adjustment atleast there are three effects.
Do you agree or disagree with the following statement :
Balance Sheet is a statement as well as an account.
Do you agree or disagree with the following statement:
Capital is excess of Liabilities over Assets.
What are wasting assets?
What are fixed assets?
Mention any two differences between trial balance and balance sheet.
What are the advantages of preparing a balance sheet?
Compute capital fund of Salem Sports Club as on 1.4.2019.
| Particulars | ₹ | Particulars | ₹ |
| Sports equipment | 30,000 | Prize fund | 10,000 |
| Computer | 25,000 | Prize fund investments | 10,000 |
| Subscription outstanding for 2018-19 | 5,000 | Cash in hand | 7,000 |
| Subscription received in advance for 2019-20 | 8,000 | Cash at bank | 21,000 |
From the following Receipts and Payments account of Sivakasi Pensioner’s Recreation Club, prepare income and expenditure account for the year ended 31st March, 2018 and the balance sheet as on that date.
| Dr. | Receipts and Payments Account for the year ended 31st March, 2018 | Cr. | ||
| Receipts | ₹ | ₹ | Payments | ₹ |
| To balance b/d | By Rent and rates | 18,000 | ||
| Cash in hand | 10,000 | By Electricity charges | 17,000 | |
| Cash at bank | 20,000 | 30,000 | By Furniture purchased | 12,000 |
| To Subscription | By Billiards table purchased | 70,000 | ||
| 2016 – 2017 | 5,000 | By Repairs and renewals | 16,000 | |
| 2017 – 2018 | 25,000 | By Special dinner expenses | 4,000 | |
| 2018 – 2019 | 6,000 | 36,000 | By Special dinner expenses | 2,000 |
| To Legacies | 40,000 | By Balance c/d | ||
| To Rent from hall | 14,000 | Cash in hand | 1,000 | |
| To Lockers rent | 5,000 | |||
| To Collection for special dinner | 12,000 | |||
| To Balance c/d | ||||
| Bank overdraft | 3,000 | |||
| 1,40,000 | 1,40,000 | |||
Additional information:
- The club had 300 members each paying ₹ 100 as annual subscription.
- The club had furniture ₹ 10,000 on 1.4.2017.
- The subscription still due but not received for the year 2016 – 2017 is ₹ 1,000.
Discuss the need of preparing a balance sheet
Annual Insurance Premium ₹ 8,000 is paid on 1st Dec 2018. Calculate the amount of Insurance Premium for the accounting year ending on 31st March 2019.
Which section does NOT appear on a balance sheet?
Which statement best describes the relationship between assets and source of funds?
