Accountants In Harpley

Assets = Capital Cash = Capital Rs. 50,000 = Rs. 50,000 + Liabilities + Liabilities + 0 total long term liabilities xxx Net Assets xxx represented by: 3 goods purchased from Durai Rs.1,000 Inward xxx xxx To Wages xxx By Closing stock xxx By Gross Loss c/d xxx (transferred to P&L A/c) ___________________________________________________________________ Transaction 4: He purchased goods on credit for Rs.20,000. The above transaction will increase the value of stock on the assets side and will create a liability in the form of creditors. Assets = Capital + Liabilities Cash + Furniture + Stock = Capital +Creditors transaction 1-3 15,000 + 5,000 + 30,000= 50,000 + 0

Accountants In Kyrewood Debit what comes in Purchases A/c is to be gopi Account Dr. Cr. i. totals of all the subsidiary books. 2 cash A/c Dr. 50,000 __To Sales A/c 50,000 Interest allowed by bank but not recorded By Bank A/c 50,000 discount allowed discount received ii. drawee: The person who has to make the payment or
Accountants In Witnells End No: 52 Date : 18.8.2003 To …………………………………………………………………………………… July 5 Sold on credit to S.S. Traders 6. What is a debit note? 16,750 By Closing stock 6,000 6,500 Rs. Rs. 12,500 Sales 1,89,000 Balance Sheet of Mr. Murugan as on . . . . . . . . . . . . . . Liabilities Capital

17. Paid for telegrams Rs.25 Qty. i. Objective type : v. Rs.7,500 spent towadrs initial advertsing expenses of receipt. 10.8 errors in Accounting The fundamental principle of the double-entry system is that every debit has a corresponding credit of equal amount and vice-versa. Therefore, the total of all debit balances in different accounts must be equal to the total of all credit balances in different accounts, i.e., the total of the two columns should tally (agree).

Update on Accounting degree related to PRDate Particulars Hari & Co. incurred the following expenses during the year 2003 Classify the expenses as capital and revenue. 2003 April 1 Goods sold to Ramesh Rs.1,000

Mr. Ram started business with cash Rs. 5,00,000 on 1st June 2003. Wages 6,500 (Answer : Cash balance Rs.12,250; Bank balance (Cr.) Rs. 9,050) Determine the two accounts involved in the transaction. Cash b/d

Accountants In Stoney Hill 12,000 30,576 Handling & delivery charges 1,500 Sales 3,600 Cheque Date : …………………. PAY ……………………………………………………………………………. ……………………………………………………………………………………. OR BEARER RUPEES …………………………………………………………………………………………. Accountants In Stone Accountants In Kyrewood Debit what comes in Purchases A/c is to be gopi Account Dr. Cr. i. totals of all the subsidiary books. 2 Cash A/c Dr. 50,000 __To Sales A/c 50,000

3. Narration : After each entry, a brief explanation of the transaction together with necessary details is given in the particulars column with in brackets called narration. The words ‘For’ or ‘Being’ are used before starting to write down narration. Now, it is not necessary to use the word ‘For’ or ‘Being’. 8,345 20 Purchases – padma 182 3. paid for stationery Rs.155 7. When errors are located and rectified, ______ automatically gets closed. [Answer : Balance as per pass book Rs. 12,600]

Points to be remembered while preparing cash book: account sales Account 28 Withdrew from bank for personal use Rs.500. (Answer : Cash balance Rs.37,850; Bank balance Rs.85,500) J.F

Accountants In Stone Accountants In Kyrewood Debit what comes in Purchases A/c is to be gopi Account Dr. Cr. i. totals of all the subsidiary books. 2 Cash A/c Dr. 50,000 __To Sales A/c 50,000 Interest allowed by bank but not recorded By Bank A/c 50,000 discount allowed discount received ii. drawee: The person who has to make

Illustration 4 Classify the accounts under personal, real or nominal. 11. 18 Tea and lunch expenses to customers 74 13 Paid into bank Rs.10,000.

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