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प्रश्न
What is an Account?
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उत्तर
Every transaction has two aspects and each aspect affects a minimum of one account.
An account is the basic unit of identification in accounting.
A ledger account is a summary of relevant transactions at one place relating to a particular head.
The account is the systematic presentation of all material information regarding a particular person or item in one place, under one head.
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संबंधित प्रश्न
Accounting equation signifies ___________.
A firm has assets of ₹ 1,00,000 and the external liabilities of ₹ 60,000. Its capital would be ___________.
Real account deals with ____________.
Which one of the following is representative personal account?
What is the accounting equation?
Write any one transaction which decreases the assets and decreases the liabilities
How are personal accounts classified?
Complete the accounting equation.
Assets = Capital + Liabilities
₹ 2,00,000 = ? + ₹ 40,000
Create an accounting equation on the basis of the following transactions:
- Rakesh started business with a capital of ₹ 1,50,000
- Deposited money with the bank ₹ 80,000
- Purchased goods from Mahesh and paid through debit card ₹ 25,000
- Sold goods (costing ₹ 10,000) to Mohan for ₹ 14,000 who pays through debit card
- Commission received by cheque and deposited the same in the bank ₹ 2,000
- Paid office rent through ECS ₹ 6,000
- Sold goods to Raman for ₹ 15,000 of which ₹ 5,000 was received at once
Create an accounting equation on the basis of the following transactions:
- Started business with cash ₹ 80,000 and goods ₹ 75,000
- Sold goods to Shanmugam on credit for ₹ 50,000
- Received cash from Shanmugam in full settlement ₹ 49,000
- Salary outstanding ₹ 3,000
- Goods costing ₹ 1,000 given as charity
- Insurance premium paid ₹ 3000
- Out of insurance premium paid, prepaid is ₹ 500
