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प्रश्न
State True or False with reasons :
Goodwill is not a fictitious asset
पर्याय
True
False
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उत्तर
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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 :
Outstanding expenses are shown on the ____________ side of Balance Sheet.
Fill in the blank :
Income Receivable appears on __________ side of Balance Sheet.
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.
Bank overdraft should be shown ______.
Balance sheet shows the ______ of the business.
What are wasting assets?
Mention any two differences between trial balance and balance sheet.
What is meant by grouping and marshaling assets and liabilities?
From the following particulars, prepare balance sheet in the books of Bragathish as on 31st December, 2017:
| Particulars | ₹ | Particulars | ₹ |
| Capital | 80,000 | Cash in hand | 20,000 |
| Debtors | 12,800 | Net profit | 4,800 |
| Drawings | 8,800 | Plant | 43,200 |
Prepare trading and profit and loss account and balance sheet in the books of Deri, a trader, from the following balances as of March 31, 2018.
| Particulars | ₹ | Particulars | ₹ |
| Stock | 10,000 | Sales | 1,22,500 |
| Cash | 2,500 | Creditors | 5,000 |
| Bank | 5,000 | Bills payable | 2,000 |
| Freight inwards | 750 | Capital | 52,000 |
| Purchases | 95,000 | ||
| Drawings | 4,500 | ||
| Wages | 27,500 | ||
| Machinery | 50,000 | ||
| Debtors | 13,500 | ||
| Postage (office) | 150 | ||
| Sundry expenses | 850 | ||
| Rent paid | 2,500 | ||
| Furniture | 17,250 | ||
| 2,29,500 | 2,29,500 |
Closing stock (31st March, 2018) ₹ 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 and from the information given below of Ramanathapuram Sports Club, prepare Income and Expenditure account for the year ended 31st December, 2018 and the balance sheet as on that date.
| Dr. | Receipts and Payments Account for the year ended 31st December, 2018 | Cr. | |||
| Receipts | ₹ | ₹ | Payments | ₹ | ₹ |
| To Balance b/d | By Rent | 11,000 | |||
| Cash in hand | 5,000 | By Entertainment expenses | 11,200 | ||
| Cash at bank | 10,000 | 15,000 | By Furniture | 10,000 | |
| To Subscription | By Sports materials purchased | 13,000 | |||
| 2017 | 12,000 | By Match expenses | 12,000 | ||
| 2018 | 33,000 | By Investments made | 28,000 | ||
| 2019 | 16,000 | 61,000 | By Balance c/d | ||
| To Entrance fees | 6,000 | Cash in hand | 1,300 | ||
| To General donations | 7,000 | Cash at bank | 4,000 | 5,300 | |
| To Sale of old sports materials | 1,000 | ||||
| To Miscellaneous receipts | 500 | ||||
| 90,500 | 90,500 | ||||
Additional information:
- Capital fund as on 1st January 2018 ₹ 30,000.
- Opening stock of sports material ₹ 3,000 and closing stock of sports material ₹ 5,000.
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.
What is a balance sheet?
Calculate the Capital.
| Assets | (₹) | Liabilities | (₹) |
|
Building |
20,000 |
Bills Payable | 18,000 |
| Furniture | 15,000 | Creditors | 20,700 |
| Debtors | 30,000 | Outstanding Wages | 1,250 |
| Investments | 10,000 | ||
| Cash at Bank | 5,000 | ||
| Plant & Machinery | 20,000 |
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.
Calculate the amount of gross profit and operating profit on the basis of the following balances extracted from the books of M/s Rajiv & Sons for the year ended March 31, 2017.
| ₹ | |
| Opening stock | 50,000 |
| Net sales | 11,00,000 |
| Net purchases | 6,00,000 |
| Direct expenses | 60,0000 |
| Administration expenses | 45,000 |
| Selling and distribution expenses | 65,000 |
| Loss due to fire | 20,000 |
| Closing stock | 70,000 |
What does a balance sheet reveal about a business?
What does it indicate if the balance sheet does not tally (totals on both sides are not equal)?
Why is the balance sheet prepared "as on" a date, not "for the year ended"?
Which statement best describes the relationship between assets and source of funds?
