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Select the most appropriate alternatives from the given below and rewrite the statement:
Debit what comes in, Credit what ______
Concept: undefined >> undefined
Select the most appropriate alternatives from the given below and rewrite the statement:
Debit all ______ and Credit all income and gains.
Concept: undefined >> undefined
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State whether the following statement is True or False with reasons:
The rule of Nominal Account in Debit the receiver and Credit the giver.
Concept: undefined >> undefined
Fill in the blank:
Debit all expenses and losses, Credit all ______
Concept: undefined >> undefined
Answer in one sentence only
What is Trial Balance?
Concept: undefined >> undefined
Write the word, term, phrase, which can substitute the statement.
A Trial Balance in which only net balances of all ledger accounts are transferred.
Concept: undefined >> undefined
Answer the following question in one sentence:
State the meaning of Imprest System of Petty Cash Book.
Concept: undefined >> undefined
Answer the following question in one sentence:
Who is a Petty Cashier?
Concept: undefined >> undefined
Give word/term or phrase for the following statement:
Person who maintains Petty Cash Book.
Concept: undefined >> undefined
Give word/term or phrase for the following statement:
Petty Cash Book in which the payment side is ruled in suitable columns.
Concept: undefined >> undefined
Do you agree with the following statement:
Petty Cash Book is a book having a record of big payments.
Concept: undefined >> undefined
Complete the following sentence:
Petty Cash Book is used for recording ______ expenses.
Concept: undefined >> undefined
Select the most appropriate answer from the alternatives given below and rewrite the sentence.
When Closing Capital is greater than the Opening Capital, the difference is ____________.
Concept: undefined >> undefined
State whether the following statements are ‘True or False’ with reasons.
Trial balance is based on the double entry principle that for every debit there is equal amount of corresponding credit.
Concept: undefined >> undefined
State whether the following statement is ‘True or False’ with reasons.
Agreement of Trial Balance always proves accounting accuracy.
Concept: undefined >> undefined
Prepare a chart showing Analysis of the following transactions in a Tabular form according to the Traditional Approach:
1. Rajasaheb started the business with cash of ₹ 85,000.
2. Goods Purchased for cash ₹ 5,000.
3. Sold goods on credit worth ₹ 6,000 to Ramesh.
4. Cash deposited into Bank of Maharashtra ₹ 12,000.
5. Interest received ₹ 700 from Radhika.
6. Paid Rent ₹ 2,000 to the landlord.
7. Bought goods on credit from Birajmohan ₹ 7,000.
8. Withdrew cash from bank ₹ 1,000 for office use.
9. Purchased computer ₹ 9,000 for cash.
10. Paid Mobile bill (office) ₹ 500.
11. Sold old Mobile ₹ 2,000.
12. Received Rent ₹ 1,000 from the tenant.
Concept: undefined >> undefined
Correct the following sentences and rewrite the same:
The person who maintain Petty Cash Book is called Chief Cashier.
Concept: undefined >> undefined
| Opening Petty Cash Balance | Petty Cash Received | Petty Expenses Paid | Closing Petty Cash Balance | |||
| 250 | + | 1,750 | - | ? | = | 420 |
Concept: undefined >> undefined
| Opening Petty Cash | Petty Cash Received | Petty Expenses Paid | Closing Petty Cash Balance | |||
| 400 | + | ? | - | 1,800 | = | 250 |
Concept: undefined >> undefined
| Opening Petty Cash Balance | Petty Cash Received | Petty Expenses Paid | Closing Petty Cash Balance | |||
| ? | + | 1,800 | - | 2,250 | = | 150 |
Concept: undefined >> undefined
