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Question
Balance sheet shows the ______ of the business.
Options
Profitability
Financial position
Sales
Purchases
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Solution
Balance sheet shows the Financial position financial position of the business.
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Select the most appropriate alternatives given below and rewrite the sentence :
Outstanding expenses are shown on the ____________ side of Balance Sheet.
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Goodwill is not a fictitious asset
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Income Receivable appears on __________ side of Balance Sheet.
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Mention any two differences between trial balance and balance sheet.
What are the advantages of preparing a balance sheet?
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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 |
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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 |
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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 | ₹ |
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| To Bank interest | 1,500 | By Balance c/d | |
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| 55,000 | 55,000 |
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- 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?
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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 | ||
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If cash at bank increases, which side of the balance sheet changes?
