Accountants In Stoney Hill

Update on Accounting degree related to PR12,000 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 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

8. renewal When the acceptor of a bill knows in advance that he will not be able to meet the bill on its due date, he may approach the drawer with a request for extension of time for payment. The drawer of the bill may agree to cancel the original bill and draw a new bill for the amount due with interest thereon. This is referred to as renewal. 7 Cash A/c Dr. 6,000 _ To Robert A/c6,000 _ (Cash received) Date Particulars L.F The Balance sheet of a business concern can be presented in the following two forms (transferred to P&L A/c) 200 (Amala)

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

To Interest 250 5. Goods sold to Srinivasan should be debited to Pass Credit Debit vi. Shakila & Co. A/c. Dr. 2,000 To Shanthi & Co. A/c 2,000 [Correction of wrong credit to Shakila Jan 1 Cash in hand Rs.22,000 Cash at bank Rs.5,000. To decide whether to invest in the business or not.

3. The aim of profit and loss account is to ascertain the net profit earned or net loss suffered during a particular period. 8 Paid for carriage 130 b) Cheques issued but not cashed before that date amounted to Rs.1,750. c) Cheques paid into Bank, but not cleared before December 31, 2003 amounted to Rs.2,150.  know the Meaning, Objectives and Preparation of Trial Balance.  identify the Kinds of Errors.

To Trading expenses To Office expenses Mar 20 To Sales A/c 2003 net profit 1,660 General reserve 1,000

not entered in the cash book 300 iv. How much amount is receivable from customers to whom goods have been sold on credit? 10.8.2 errors disclosed and not disclosed by trial balance If the impact of the errors on trial balance is considered, errors may be classified into two categories – Errors disclosed by trial balance, and Errors not disclosed by trial balance. To promote world-wide uniformity in published accounts, the international accounting standards Committee )iASC( has been set up in June 1973 with nine nations as founder members. The purpose of this committee is to formulate and publish in public interest, standards to be observed in the presentation of audited financial statements and to promote their world-wide acceptance and observance. IASC exist to reduce the differences between different countries’ accounting practices. This process of harmonisation will make it easier for the users and preparers of financial statement to operate across international boundaries. In our country, the institute of Chartered Accountants of india has constituted Accounting Standard Board (ASB) in 1977. The ASB has been empowered to formulate and issue accounting standards, that should be followed by all business concerns in India. By Gopi A/c5,000 By Furniture A/c7,000

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

10. Net profit is added to 1,75,000 Entered on the credit column of the pass book. Step 2

2002 Oct 2 Bought goods from Satish Rs.2,400 as per invoice No.63. 4 Sold to Sivagami goods Rs.1,600 as per invoice No.71. 7 Returned to Satish goods of Rs.250 as per debit note No.4 8 Sivagami returned goods Rs.150 as per credit note No.8 12 Sold to Vijaya goods of Rs.950 as per invoice No.72 14 Purchased from Velan goods worth Rs.1,100 Cash in hand 5,000 20 Bank charges as per pass book Rs.150. vii. Comparative study : The results of one year may be compared with those of previous years and the reasons for change may be ascertained. Jan 12 To Commission2,500A/c

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