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1251.

Commision recieved is an example of​

Answer»

ong>Answer:

To commission RECEIVED account

In the balance sheet, this ACCRUED commission will be shown on the asset side of the balance sheet and commission received will be shown as income in PROFIT and loss account.

Explanation:

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Discussion
1252.

29. Journalise the following transactions in the books of Maan fuere (1) Purchased goods from Ramesh x 20.000 les Trade Discount at 20% plus IGST & 12(ii) Sold goods conting * 7,000 to Krishna for9,000 plus IGST 12(iii) Sold goods for 10,000 and charged IGST @ 12% against cheque(10) 5,000 were deposited into Savings Account(0) Machinery costing < 4,00,000 for which order was placed earlier paying advansara40,000. The balance amount was paid as follows:(a) An old machine (personal) valued at 80.000 was given in exchange(b) Issued a cheque from his savings account for? 1,30,000, and(c) Balance by issue of cheque from firm's bank account(1) Paid wages 2,500 for installation of machine​

Answer» ONG>ANSWER:

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Discussion
1253.

14. Alka, Barkha and Charu are partners in a firm having nopartnership agreement. Alka,Barka and Charu contributedRs.2,00,000, Rs.3,00,000 andRs.1,00,000 respectively. Alkaand Barkha desire that theprofits should be divided in theratio of capital contribution.Charu does not agree to this.How will you settle the dispute?​

Answer» ONG>Answer:

first TAKE out the sum .......
Discussion
1254.

Accountancy considering as backbone of bussiness how would you define accounting in the context a newly starting bussiness

Answer» ONG>ANSWER:

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Discussion
1255.

B. Prepare ledger accounts of following transactions. (8)2011Rahul started business with cash Rs.80000, furniture Rs. 30000Jan 10Deposited cash into bank Rs. 18000Jan 18Purchased goods on credit from dina nath Rs. 25000Feb 76Cash paid to Dina Nath RS. 16600 and discount earned rs 400Mar. 24Purchased stationery Rs.6500Mar. 30Rent paid RS. 9000​

Answer» ONG>ANSWER:

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Discussion
1256.

The …………..have power to allot shares​

Answer»

Explanation:

COMPANY

the company has this POWER to ALLOT SHARES
Discussion
1257.

When new partner admitted goodwill is created then this a/c is debited?​

Answer»

ong>EXPLANATION:

When a NEW partner BRINGS cash for goodwill the AMOUNT is credited to the. Premium for Goodwill Account. Capital Account of the new partner.

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Discussion
1258.

Amount paid tosupplier is a transaction or sn events

Answer» ONG>ANSWER:

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Discussion
1259.

₹300 was received in cash from railway company against the claim

Answer»

ong>ANSWER:

PLEASE ASK the QUESTIONS clearly
Discussion
1260.

State the nature of accounting information required by long term Ledger?​

Answer»

ong>Answer:

State the NATURE of accounting information required by LONG-term lenders. Answer : Accounting information required by the long term lenders are repaying capacity of the BUSINESS, PROFITABILITY, liquidity, operational efficiency, potential growth of business, etc.

........ hope it helps...........

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Discussion
1261.

Define opening entry​

Answer» ONG>Answer:

Articles. A journal entry by means of which the balances of various assets, liabilities, and capital APPEARING in the balance sheet of the previous accounting period are brought forward in the books of a current accounting period is KNOWN as an opening entry.

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Discussion
1262.

Jan-4 Under instruction from Mr. M & Co, X supplied goods listed at Rs. 1000 to Mr. S. Received the invoice at 20% trade discount from Mr. M & co.​

Answer»

ong>ANSWER:

.MR. COS 2 of total premium brange
Discussion
1263.

Prepare a three column cash book from the following transaction : April 1 cash in hand 4000 and in bank 25000

Answer» ONG>Explanation:

To CASH 4000 By BANK a/c 25000
Discussion
1264.

Information in finicial repot is based on ..............​

Answer»

ong>ANSWER:

Economical Transactions (or) Financial Transactions

Explanation:

The information relates to an individual business enterprise. The information often is the product of APPROXIMATIONS and estimates, rather than EXACT measurements.

The financial statements typically reflect the financial effects of transactions and events that have already happened (i.e., HISTORICAL). This means that all financial statements and other financial information required under the Loan Documents.

Economic Transaction means transfer of goods, the RENDERING of services (including saving and risk-taking), and transfer of money and other investments between residents of one country and residents of another country.
Discussion
1265.

Transaction in double column cash book of sunita traders​

Answer»

ong>Answer:

Recording of Transactions – II – Bank Column Cash Book Solutions

This page contains the CBSE accountancy CLASS 11 chapter Recording of Transactions – II notes. You can FIND the questions/answers/solutions for the chapter 4 of CBSE class 11 accountancy in this page. So is the CASE if you are looking for CBSE class 11 Commerce RELATED TOPIC Recording of Transactions – II

This page contains solutions to Bank Column Cash Book numerical questions and solutions for the chapter 4 Recording of Transactions – II.

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Discussion
1266.

Direction : Choose the correct altematives- 1. Following are the information pertaining to XLtd.: Right to buy one share @ 17 per sharefor every five shares of Rs. 10 each held in thecompany. Market value of the shares on thedate of such offer is Rs. 35 per share.Which one of the following is the value of right?(2) Rs. 8.67 (b) Rs.3.00(c) Rs.4.50 (d) Rs. 13.00​

Answer» ONG>ANSWER:

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Discussion
1267.

Rahul bussinessman has employed sonu and has estimated his value at rs. 10000. He has accounted it as an asset in the books of account. Is he correct in doing so ?? plz answer it quickly....​

Answer» ONG>Explanation:

2x=10000

x=10000/2

=5000
Discussion
1268.

Voluntarily giving away ones shares to another person is called as……of shares​

Answer» ONG>Answer:

Transfer of SHARES

Explanation:

VOLUNTARILY giving away ONES shares to another person is called as transfer of shares.

Hope it helps you

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Discussion
1269.

Bad debs - 8450 Sundry debtors -260000 Adjustments: Further bad debts 6500 Provision for doubtful debts @5% on sundry debtors .

Answer» ONG>ANSWER:

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Discussion
1270.

Goods distributed as 'free samples' should be debited to _______ account. *​

Answer»

ong>Answer:

When ACCOUNTING for goods distributed as free samples purchases are CREDITED and the advertisement account is debited.

Explanation:

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Discussion
1271.

Cash paid to Remola ₹20,000​

Answer» LA a/c DR 20,000

to CASH a/c. 20,000.

(being cash PAID to RAMOLA).
Discussion
1272.

Ankit and Basant are partners in a firm sharing profit and losses in the ratio of 3:2 Govind is admitted in the firm for 1/5th share in profit . Govind gets it from Ankit and Basant in the ratio of 2:3. Calculate the new profit and loss sharing ratio of the partners​

Answer»

ong>Answer:

SEE below

Explanation:

OLD ratio (A and B) = 3 : 2

C is admitted for 1/4 share  

Let the combined share of A, B and C = 1

Combined share of A and B after C's admission = 1 - C's share

                                                                                = 1 - (1/4) = 3/4

NEW share :

A = (3/4) * (1/2) = 3/8

B = (3/4) * (1/2) = 3/8

C = 1/4  

Therefore, A : B : C = 3/8 : 3/8 : 1/4

                                = 3 : 3 : 2

Sacrificing ratio = Old ratio - New ratio

A's sacrifice = (3/5) - (3/8) = 9/24

B's sacrifice = (2/5) - (3/8) = 1/24

Therefore, sacrificing ratio of A and b is 9 : 1
Discussion
1273.

Which of the following is a limitation of accounting? Assistence to management Replaces memory Evidence in court

Answer» ONG>ANSWER:

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Discussion
1274.

D machers is purchased on 1 said EsbensesJen solf £8oogo3. allDo its instenbostono2. The radual values of andof its extended cessful life of a yearestonicledofIli anhdepresson underraughtlins method forthyended on 31 march dwellbe 222500, 220000, z 17.00​

Answer» ONG>ANSWER:

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Discussion
1275.

2. fe worlog wie ber x glo 90.000 or he plane am 7,60,000 Compute tax liability of Me X who has an agricultural income of 90,000 and non-auricultur7,00,000Ana, 81,180lan law​

Answer» ONG>ANSWER:

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Discussion
1276.

10. Cash account is real account. (yes/no)​

Answer»

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Discussion
1277.

Prepare cash book with bank and discount columns assuming all receipts are banked on the same day and all payments are made through cheques :Jan. 2018 Transactions (₹)1 Open bank account with Axis Bank 250003 Sold goods for cash 60005 Bought goods for cash 80009 Paid to Gopal 4900Discount allowed to him 10013 Received a cheque from Amar for ₹8000 less 2% less discount -15 Issued a cheque to landlord for rent 200017 Received a cheque from Hari for ₹6700 in full settlement for his account700019 Drew a cheque for office use 300022 Drew a cheque for personal use 200025 Cheque received from Hari was dishonoured -28 Paid to Sohan ₹4800. He allowed us discount ₹200. -30 Bank Charges 20031 Salary of Staff 8000​

Answer»

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Discussion
1278.

13. When shares are forfeited, all entries relating to the shares forfeited except those relating to in the accounting records must be reversed.​

Answer» ONG>ANSWER:

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Discussion
1279.

100 Ram, Rahim and Rehman were partners in a firm sharing profits in the ratio of4:1: 5. On 28.2.2019 the firm was dissolved. From the information given belowcomplete Realisation Account, Capital Accounts and Bank Account :REALISATION ACCOUNTionCr.Dr.Cr.ParticularsParticularsTo Sundry Assets :By Sundry Liabilities:Debtors2,74,000Provision for Bad Debts 8,000Stock1,08,000Bank Loan4,34,000Furniture1,32,000Creditors3,80,000 8,22,000Machinery4,00,000By Bank :Building30,00,000 39,14,000 (Assets realised)35,61,800To Bank (Payment of Bank Loan) 4,43,500 By Ram's Capital (Furniture)To Bank (Payment of Creditors)By Rehman's CapitalTo Rehman's Capital Alc(Machinery taken)(Realisation Expenses)By Loss transferred to:Ram's Capital A/C 29,080Rahim's Capital A/CRehman's Capital A/C​

Answer» ONG>ANSWER:

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Discussion
1280.

X ltd. forfeits 100 12%preference shares of rupees 25each,fully called up on which rupees 1500 have been received and reissues them as fully paid up to one of the directors upon payment of Rs 2300​

Answer»

ong>Answer:

In case of non- payment of any of the CALL money, the SHARES get forfeited. Later these shares can be SOLD at the called up value.

On issue of forfeited shares, the share capital account is debited with the called up value i.e 18,000 (2000*9).
Discussion
1281.

1 जनवरी 2018 से A और B बिना किसी समझौते के साझेदार हैं और क्रमशः 35,000 20,000 रु. पूँजी लगाते हैं। 31 जुलाई, 2018 को A बिना किसी ब्याज के समझौते के फर्म को8,000 रु. ऋण बतौर देता है। वर्ष 2018 का लाभ-हानि लेखा 13,520 रु. का लाभ दर्शाता है, किन्तुसाझेदार ब्याज और लाभ विभाजन के प्रश्न पर सहमत नहीं हो सके। अपनी विधि के लिए कारण देतेहुएआपको उनके बीच लाभ विभाजन करना है।​

Answer» ONG>ANSWER:

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Discussion
1282.

Starting business with cash rupees 200000 machinery rupees 500000 and furniture rupees 50000

Answer» ONG>ANSWER:

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Discussion
1283.

journal entries in the books of Roshan lal, delhi jan 1 bought goods from Amit Rs, 5000 and Sumit Rs.6000 for cash jan 2 sold goods for cash Rs.8500 jan 5 paid salary Rs.4000 and rent Rs.2000 jan 8 sold goods to Ram of list price of Rs.8000 less 10% trade discount jan 10 paid for stationary Rs. 500 and postage Rs.600 jan 12 goods of list price of Rs.1000 returned to Ram jan 17 received cash from Ram Rs.11500 in full settlement of account jan 20 withdrew cash Rs. 2000 and goods Rs, 1000 for personal use Jan 25 received payment from Mohan Rs.3000 and Sohan Rs.2800 jan 27 bought furniture Rs.2000 for cash prepare Cash a/c and purchases a/c for the above transactions. pls jaldi​

Answer» ONG>ANSWER:

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Discussion
1284.

the purchase of an office table costing ₹2000 had been passed through the purchases book of cash in trial balance.​

Answer» ONG>ANSWER:

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Discussion
1285.

Proprietor account debit hai ya credit​

Answer» ER:

In the case of a sole proprietorship or partnership, the capital ACCOUNT is credited by BUSINESS profits and debited to the business losses.

Explanation:

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Discussion
1286.

Wahi & Co. dealing in electronic items, Purchased some air-Coolers and lamps for its office use. Will you treat them as goods? ​

Answer»

ong>Answer:

YES they are GOODS as they are for OFFICE USE
Discussion
1287.

X, Y and Z are partners sharing profits in the firm. Goodwill exists in their books at 50,000. X retires and on the day of X's retirement, goodwill is valued at 45,000. Y and ZIllustration 15 (When one of the Remaining Partners Gain and Goodwill Exists in the Books).decided to share future profits equally.Pass necessary Journal entries.​

Answer» ONG>ANSWER:

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Discussion
1288.

What is the meaning of PURAKASYA

Answer» ONG>ANSWER:

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Discussion
1289.

What is relationship between sales net sales and sales return? explain with the help of suitable example​

Answer» ONG>ANSWER:

NET SALE= sale-sale return
Discussion
1290.

प्र.58 व 59 दहा वर्षांपूर्वी रमेश व सुरेश यांच्या वयांचे गुणोत्तर 1 : 5 होते. परंतु 10 वर्षानंतर त्यांच्या वयांचे गुणोत्तर 3:5 होईल. तर,58. रमेशचे आजचे वय किती असेल?(2) 10 वर्षे(4) 24 वर्षे(1) 14 वर्षे(3) 40 वर्षे59. सुरेशचे 10 वर्षांपूर्वीचे वय किती असेल ?(1)9 वर्षे(2) 20 वर्षे(3) 40 वर्षे(4) 30 वर्षे​

Answer» ONG>ANSWER:

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Discussion
1291.

5. Tangible assets do not include.a) Goodwill b) Furniture c) Stockd) Cash​

Answer» ONG>ANSWER:

goodwill

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Discussion
1292.

State the important adjustment required at the time of addmission of a new partner​

Answer»

ong>ANSWER:

Required adjustments at the time of ADMISSION of a Partner: Calculation of New Profit Sharing Ratio. Revaluation of Assets and LIABILITIES of the firm. TREATMENT of Goodwill.

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Discussion
1293.

Accounts class 11 mp board pdf of all chapters​

Answer»

ong>Answer:

SEARCH in GOOGLE for CORRECT
Discussion
1294.

Pair to creditor in full settelmentof 16500 accounting equation

Answer» ONG>ANSWER:

COMPLETE the QUESTION
Discussion
1295.

Q2. Cost of goods manufactured is determined by O Financial accountingCost accountingManagement accountingHuman Resource accounting​

Answer»

ong>ANSWER:

CHON ksm ne MAI pyeee WALLAH
Discussion
1296.

Interest allowed in Capital .give the accounting equation

Answer» ONG>ANSWER:

26% is the answer for your QUESTION
Discussion
1297.

Why is new partner required to pay premium Goodwill at the time of addmission​

Answer» ONG>Answer:

sorry I don't UNDERSTOOD your QUESTION...can you clear it to me..plzz ..

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Discussion
1298.

Guy's ❤️❤️.....plz explain branches of commerce....❤️​

Answer» ONG>Answer:

Branches of commerce include TRADE, transport, banking, insurance WAREHOUSING, advertising and COMMUNICATION.
Discussion
1299.

Why is secrificin ratio important​

Answer»

ong>EXPLANATION:

It INCREASES the PROFIT-sharing proportion of remaining partners of the firm.The SACRIFICE ratio can be considered to be a financial tool that helps to ascertain the proportion of profit that existing partners of a firm has to surrender to favour a newly admitted partner.

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Discussion
1300.

Paid to mohan rs 575 in full payment of RS 600​

Answer» ONG>ANSWER:

25 is your answer...................
Discussion