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प्रश्न
Do you agree or disagree with the following statement :
Balance Sheet is a statement as well as an account.
विकल्प
Agree
Disagree
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उत्तर
Balance Sheet is a statement as well as an account.-Disagree
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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:
The accounts prepared at the end of the accounting year to know the profit or loss and Financial position of business
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 excess of assets over liabilities
Select the most appropriate alternatives given below and rewrite the sentence :
Fill in the blank :
Income Receivable appears on __________ side of Balance Sheet.
Bank overdraft should be shown ______.
What are wasting assets?
Mention any two differences between trial balance and balance sheet.
“Balance sheet is not an account” – Explain.
Prepare trading and profit and loss account in the books of Ramasundari for the year ended 31st December, 2017 and balance sheet as on that date from the following information:
| Particulars | ₹ | Particulars | ₹ |
| Opening stock | 2,500 | Sales | 7,000 |
| Wages | 2,700 | Purchases | 3,300 |
| Closing Stock | 4,000 | Salary | 2,600 |
| Discount received | 2,500 | Capital | 52,000 |
| Machinery | 52,000 | Cash at Bank | 6,400 |
| Creditors | 8,000 |
How will the following appear in the final accounts of Karaikudi sports club for the year ending 31st March, 2019?
| Particulars | ₹ |
| Tournament fund on 1st April 2018 | 90,000 |
| Tournament fund investment on 1st April 2018 | 90,000 |
| Interest received on tournament fund investment | 9,000 |
| Donation to tournament fund | 10,000 |
| Tournament expenses | 60,000 |
From the following Receipts and Payment account of Yercaud Youth Association, prepare Income and expenditure account for the year ended 31st March, 2019 and the balance sheet as on that date.
| Receipts | ₹ | Payments | ₹ |
| To Balance b/d | By Salary | 14,000 | |
| Cash in hand | 9,600 | By Office expenses | 7,200 |
| To Government grants for purchase of books | 10,000 | By Books purchased | 15,000 |
| To Subscription | 24,800 | By Stationery purchased | 1,800 |
| To Admission fees | 2,000 | By Newspaper purchased | 2,100 |
| To Prize fund receipts | 6,000 | By Prizes awarded | 5,000 |
| To Bank interest | 1,500 | By Balance c/d | |
| To Sale of newspapers | 1,100 | Cash in hand | 9,900 |
| 55,000 | 55,000 |
Additional information:
- Opening capital fund ₹ 20,000.
- Stock of books on 1.4.2018 ₹ 9,200.
- Subscription due but not received ₹ 1,700.
- Stock of stationery on 1.4.2018 ₹ 1,200 and stock of stationery on 31.3.2019, ₹ 2,000.
Following is the Receipts and Payments account of Neyveli Science Club for the year ended 31st December, 2018.
| Dr. | Receipts and Payments Account for the year ended 31st December, 2018 | Cr. | ||
| Receipts | ₹ | Payments | ₹ | ₹ |
| To Balance b/d | By Balance b/d | |||
| Cash in hand | 2,400 | Bank overdraft | 1,000 | |
| To Subscription | 8,700 | By Postage expenses | 200 | |
| To Life membership fees | 5,000 | By Science equipments purchased | 10,000 | |
| To Exhibition fund receipts | 7,000 | By Laboratory expenses | 2,400 | |
| To Sale of science equipments (Book value ₹ 5,000) | 6,000 | By Secretary’s honorarium | 5,000 | |
| To Miscellaneous income | 500 | By Audit fees | 3,600 | |
| By General charges | 1,800 | |||
| By Exhibition expenses | 5,000 | |||
| By Balance c/d | ||||
| Cash in hand | 200 | |||
| Cash at bank | 400 | 600 | ||
| 29,600 | 29,600 | |||
Additional information:
- Opening capital fund ₹ 6,400
- Subscription includes ₹ 600 for the year 2019
- Science equipment as on 1.1.2018 ₹ 5,000
- Surplus on account of exhibition should be kept in reserve for new auditorium.
Prepare income and expenditure account for the year ended 31st December, 2018 and the balance sheet as on that date.
What is a balance sheet?
What is meant by Grouping and Marshalling of assets and liabilities? Explain the ways in which a balance sheet may be marshalled.
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.
What does a balance sheet reveal about a business?
Why must a balance sheet always tally?
What does it indicate if the balance sheet does not tally (totals on both sides are not equal)?
Which type of accounts appear on a balance sheet?
Which statement best describes the relationship between assets and source of funds?
If cash at bank increases, which side of the balance sheet changes?
Which adjustment will affect both the Trading/Profit & Loss account and Balance Sheet?
