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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
Question No 05 Chapter No 18
Outstanding expenses
05. The following balances have been extracted from the books of Mohit Kumar as on 13st march 2018
| Dr.RS | Cr. Rs. | |
| Rent Received | - | 25,000 |
| Interest Received | - | 19,000 |
Adjustment:
Profit/Loss Account
| Particular |
Amount | Particular |
Amount | ||
|---|---|---|---|---|---|
| By Rent Received A/c | 25,000 | ||||
| Less: Accrued Commission | 5,000 | 20,000 | |||
| By Interest Received A/c | 19,000 | ||||
| Less: Accrued Interest | 4,000 | 16,000 | |||
| - | - | ||||
Balance Sheet
| Labilities |
Amount | Assets |
Amount | ||
|---|---|---|---|---|---|
| Advance Rent | 5,000 | ||||
| Advance Interest | 4,000 | ||||
| - | - | ||||
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Also, Check out the solved question of all Chapters: –
Chapter No. 2 - Theory Base of Accounting
Chapter No. 3 - Origin of Transactions
Chapter No. 4 - Vouchers and transactions
Chapter No. 6 - Accounting for Goods and Services Tax(GST)
Chapter No. 9 - Other Subsidiary Books
Chapter No. 10 - Journal Proper
Chapter No. 11 - Trial Balance
Chapter No. 12 - Bank Reconciliation Statement
Chapter No. 14 - Provisions and Reserves
Chapter No. 15 - Bills of Exchange
Chapter No. 16 - Rectification of Errors
Chapter No. 17 - Financial Statements - (Without Adjustments)
Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
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