HSC Commerce Class 11 - Tamil Nadu Board of Secondary Education Question Bank Solutions for Accountancy

Give journal entry to rectify the following error discovered after the preparation of trial balance:

Repairs to the furniture of ₹ 500 were debited to the furniture account.

Give journal entry to rectify the following error discovered after the preparation of trial balance:

A credit sale of goods to Akilnilavan for ₹ 456 was credited to his account as ₹ 654.

The following error were located after the preparation of the trial balance. Pass journal entries to rectify them. Assume that there exists a suspense account.

The total sales book was undercast by ₹ 350.

The following error were located after the preparation of the trial balance. Pass journal entries to rectify them. Assume that there exists a suspense account.

The total of the discount column on the debit side of cash book ₹ 420 was not posted.

The following error were located after the preparation of the trial balance. Pass journal entries to rectify them. Assume that there exists a suspense account.

The total of one page of the purchases book of ₹ 5,353 was carried forward to the next page as ₹ 5,533.

The following error were located after the preparation of the trial balance. Pass journal entries to rectify them. Assume that there exists a suspense account.

Salaries ₹ 2,400 was posted as ₹ 24,000.

The following error were located after the preparation of the trial balance. Pass journal entries to rectify them. Assume that there exists a suspense account.

Purchase of goods from Sembiyanmadevi on credit for ₹ 180 was posted to her account as ₹ 1,800.

Under straight-line method, the amount of depreciation is ______.

Under the written-down value method of depreciation, the amount of depreciation is ______.

Which one of the following is not a main objective of accounting?

For which of the following assets, the depletion method is adopted for writing off cost of the asset?

A depreciable asset may suffer obsolescence due to ______.

Which method shall be efficient, if repairs and maintenance cost of an asset increases as it grows older.

Depreciation is to be calculated from the date when ______.

If the rate of depreciation is the same, then the amount of depreciation under straight-line method vis-à-vis written down value method will be ______.

List out the various methods of depreciation.

Give the formula to find out the amount and rate of depreciation under straight line method of depreciation.

What is the annuity method?

What is sinking fund method?

State the advantages of straight-line method of depreciation.