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प्रश्न
State True or False with reasons :
In every adjustment atleast there are three effects.
पर्याय
True
False
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उत्तर
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संबंधित प्रश्न
Give a word, term, or phrase which can substitute the following statement:
Statement of Assets & Liabilities.
Select the most appropriate alternatives given below and rewrite the sentence :
____________ is excess of assets over liabilities
State True or False with reasons :
Goodwill is not a fictitious asset
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.
Bank overdraft should be shown ______.
What are the advantages of preparing a 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 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 |
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 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.
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.
Discuss the need of preparing a balance sheet
Calculate the Gross Profit/Gross Loss
Purchases A/c ₹ 15,500, Sales A/c ₹ 30,000, Carriage Inward ₹ 1,200, Opening Stock ₹ 5,000, Purchases Returns ₹ 500, Closing Stock ₹ 18,000
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?
Why is the balance sheet prepared "as on" a date, not "for the year ended"?
If cash at bank increases, which side of the balance sheet changes?
