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प्रश्न
State whether the following statements are ‘True or False’ with reasons.
Balances of Nominal Accounts are carried forward to the next year.
विकल्प
True
False
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उत्तर
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संबंधित प्रश्न
Write the word, term, phrase, which can substitute the statement.
A credit balance to bank Account.
Select appropriate alternatives from those given below and rewrite the sentence.
Real account always shows ____________ balance.
Complete the following table:
| Land & Building | Real Account |
| Commission Received | ? |
If the total of the debit side of an account exceeds the total of its credit side, it means ____________.
What is meant by posting?
What is debit balance?
What is credit balance?
Explain the procedure for balancing a ledger account.
Journalise the following transactions and post them to the ledger.
| 2016 Jan. | Particulars | ₹ |
| 1 | Started business with cash | 10,000 |
| 5 | Paid into bank | 5,000 |
| 7 | Purchased goods from Ram for cash | 1,000 |
Pass journal entries for the following transactions and post them to the ledger.
| 2017 Aug. | Particulars | ₹ |
| 1 | Dharma started business with cash | 70,000 |
| 6 | Cash received from Ganesan | 10,000 |
| 10 | Rent paid | 3,000 |
| 20 | Received commission from Anand | 5,000 |
The following balances appeared in the books of Vinoth on Jan 1, 2018
| Assets | ₹ | Liabilities | ₹ |
| Cash | 40,000 | Amount due to Vijay | 10,000 |
| Stock | 50,000 | ||
| Amount due from Ram | 20,000 | ||
| Machinery | 40,000 |
Pass the opening journal entry and post them to Vinoth’s Capital account.
Prepare Furniture A/c from the following transactions.
| 2016 Jan | Particulars | ₹ |
| 1 | Furniture in hand | 2,000 |
| 1 | Purchased furniture for cash | 4,000 |
| 30 | Sold furniture | 400 |
The following balances appeared in the books of Kumaran on April 1, 2017.
| Assets | ₹ | Liabilities | ₹ |
| Cash | 1,00,000 | Amount due to Anush | 40,000 |
| Stock | 40,000 | Kumaran’s capital | 1,20,000 |
| Amount due from Rohit | 10,000 | ||
| Furniture | 10,000 |
Find the capital and show the ledger posting for the above opening balances.
Give journal entries and post them to cash account.
| 2016 June | Particulars | ₹ |
| 1 | Commenced business with cash | 1,10,000 |
| 10 | Introduced additional capital | 50,000 |
| 28 | Withdrawn for personal use | 20,000 |
Give Journal entries for the following transactions and post them to Cash a/c and Sales A/c.
| 2017 Aug. | Particulars | ₹ |
| 10 | Sold goods and cheque received but not deposited | 30,000 |
| 14 | Sold goods on credit to Gopi | 12,000 |
| 20 | Received cash from Gopi | 12,000 |
Enter the following transactions in the books of Ganesan and post them into ledger.
| 2017 Oct | Particulars | ₹ |
| 1 | Started business with cash | 25,000 |
| 5 | Deposited into bank | 12,500 |
| 10 | Purchased furniture and payment by cheque | 2,000 |
| 15 | Goods purchased for cash | 5,000 |
| 19 | Sold goods to Vasu on credit | 4,000 |
| 22 | Goods worth has taken for personal use | 500 |
Show the direct ledger postings for the following transactions:
| 2017 June | Particulars |
| 1 | Raja commenced business with cash ₹ 50,000 |
| 6 | Sold goods for cash ₹ 8,000 |
| 8 | Sold goods to Devi on credit ₹ 9,000 |
| 15 | Goods purchased for cash ₹ 4,000 |
| 20 | Goods purchased from Shanthi on credit ₹ 5,000 |
Put ‘4’ mark for the nature of balance for the following.
| Account | Dr. Balance | Cr. Balance |
| 1. Capital A/c | ||
| 2. Goodwill | ||
| 3. Bank Overdraft | ||
| 4. Bills Receivable | ||
| 5. Creditors | ||
| 6. Drawings | ||
| 7. Advertisement | ||
| 8. Prepaid Rent | ||
| 9. Outstanding Salary | ||
| 10. Bad debts |
