95 37,000 To Cash A/c understand the Origin of Transactions – Source Documents. understand the Concept of Accounting Equation. f) A cheque of Rs.600 had been dishonoured prior to 31.3.2003, but no entry was made in the cash book. i. errors of Principle Transactions are recorded as per generally accepted accounting principles. If any of these principles is violated or ignored, errors resulting from such violation are known as errors of principle. For example, Purchase of assets recorded in the purchases book. It is an error of principle, because the purchases book is meant for recording credit purchases of goods meant for resale and not fixed assets. A trial balance will not disclose errors of principle.
2004 Particulars iii. Cash payment of a creditor Rs.30,000. 3. Consistency 3 Abdulla directly paid into our bank account rs.3,000. 9. dishonour
4. The account stands debited with Rs.150 for interest and Rs.30 for bank charges. Solution : 20,525 Cr 12,000 8,525 Cr 6,943 15,468 Cr 450 15,918 Cr 9,740 6,178 Cr 200 6,378 Cr 720 5,658 Cr 20,000 Salaries 4,400 i. It helps to ascertain the arithmetical accuracy of the book-keeping work done during the period. 8. Explain the steps in balancing.
x x x is the journal which records the entries which cannot beviii. journal proper 4. Paid for carriage rs. 120
2. What is a Bank Reconciliation Statement? 1,100 Balan A/c is to be credited [Answer : Gross profit Rs. 35,500] 4. Prepare profit and loss account of Mrs.Nalini for the year ended 31st dec. 2001 from the following. Gross profit 5. Carrying forward lower amount in purchases return book
granted by a a. original entry b. final entry c. all cash transactions. 2. Materiality
Accountants In Blackminster By Bal c/d 505 v. Capital expenditure – as it is spent for bringing the asset into working condition. 5.
Accountants In Finstall Accountants In Frankley Green Secondary stage. 1. Received from the head cashier 1090 Wrong credit 12. in the pass Ajai
Accountants In Offenham Cross is to be debited Santhosh A/c is to be credited It is a summary of all the ledger balances –