Accountants In Murcot

Ellen's in Your Accountant's Eariii. Bank charges payable for the agency and utility services rendered by the bank. Illustration 8 indian Overseas Bank ………………….. Branch Credit Current Account No.%. …….200……. 10. What are the errors not disclosed by the Trial Balance? S. TransactionNo. 3. Bank charges debited in the pass book 200

6. List the five items having the effect of higher balance in the Cash Book. Shankar Account examples a) Assets b) Liabilities c) Capital

Accountants In Upton Snodsbury To Salaries To Postage 20,000 By Gross profit 1,75,000 (transferred from 2004 29. Paid for registered post 50 i. Scientific

The bank has charged Rs.12 as its commission for collecting outstation cheques and has allowed interest Rs.10 on the trader’s balance. Prepare a Bank Reconciliation Statement and show the balance as per cash book. 2.3.2 Materiality Principle The materiality principle requires all relatively relevant information should be disclosed in the financial statements. Unimportant and immaterial information are either left out or merged with other items. 2. Suspense account in the trial balance is entered in the

i. Rs.560 spent on replacement of a worn our part of a plant c) deferred revenue expenditure Balance sheet is defined as ‘a statement which sets out the assets and liabilities of a business firm and which serves to ascertain the financial position of the same on any particular date’. example 15: March 5, 2004 – Received cheque from Elavarasan Rs.20,000. Analysis of Transaction Step 1

From the Ledger, first the Trial Balance is drawn and then final accounts are prepared. Opening stock 2,23,500 4,79,000 4,79,000

Accountants In Cross Bank Accountants In Oldwood 4. Days of grace are ________ in number. Particulars J.F 3. Errors of carrying forward 3. Accountants

To Purchases 8,000 60,000 8.1 imprest System imprest means ‘money advanced on loan’. Under this system the amount required to meet out various petty expenses is estimated and given to the petty cashier at the beginning of the specified period, usually a month. All the payments are supported by vouchers. At the end of the given period or earlier, when the petty cashier has spent the petty cash amount, he closes the petty cash book for the period and balances it. Then he submits the accounts to the cashier. He verifies the petty cash book with the vouchers. After satisfying himself as to the correctness and genuiness of the payments an amount equal to the cash spent is given to the petty cashier. This amount together with the unspent amount will bring up the cash in hand to the amount with which he originally started i.e., the imprest amount. Thus the system of reimbursing the amount spent by the petty cashier at fixed period, is known as the imprest system of petty cash. Furniture 15,000 Salaries

Dr. Petty Cash Account Cr. 1.7 Basic Accounting Terms The understanding of the subject becomes easy when one has the knowledge of a few important terms of accounting. Some of them are explained below. 2. What is trading account? What are its uses? Sales returns Carriage outwards 6,000 2,00,000 Return outwards 13,800

700 Capital 1,71,300 Concepts 1. dual aspect [answers: 1. (a), 2. (b), 3. (c), 4. (b), 5. (b), 6. (a)] i. Accounting equation Approach

Accountants In Bank Street Debit what comes in Step 4 The main objectives of accounting are i. to maintain accounting records. -draft) i. Cash
Accountants In Stoke Pound debit side single column cash Book of ……………. Credit Side [Answers : 1. subsidiary books, 2. purchases, 3. drawer, 4.

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