We will explain you Financial Accounting in this Tutorial is very simple and easy way.
Basic or initial level accounting in which we are recording, summarising and analyzing day to day transactions of the particular business is called financial accounting. and at the end, we will get to know about the financial position of a business or an organization by preparing Profit/loss and balance sheet of business in the particular financial year.
Question No 12 Chapter No 5 12. Prove that the Accounting Equation is satisfied is all the following transactions of Sameer Goel: (i) Started business with cash Rs. 10,000. (ii) Paid rent in advance Rs 300 (iii) Purchased goods for Read More …
Question No 11 Chapter No 5 11. Show the effect of the following transactions on assets, liabilities and capital using the Accounting Equation. Also prepare a Balance sheet: (i) Started business with cash Rs 60,000 (ii) Rent received Rs 2,000 Read More …
Question No 10 Chapter No 5 10. Prove that the Accounting Equation is satisfied in all the following transaction of Suresh. Also prepare a balance sheet : (i) Commenced Business with cash Rs 60,000 (ii) Paid rent in advance Rs Read More …
Question No 9 Chapter No 5 9. Prepare an Accounting Equation on the basis of the following transactions: (i) Started business with cash Rs 70,000. (ii) Credit Purchase of goods Rs 18,000 (iii) Payment made to creditors in full settlement Read More …
Question No 8 Chapter No 5 8. Develop an Accounting Equation from the following transactions: (i) Mohan commenced business with cash 50,000 (ii) Purchased goods for cash 30,000 (iii) Purchase goods on credit 20,000 (iv) Sold goods (costing Rs 10,000) Read More …
Question No 7 Chapter No 5 7. Prepare an Accounting Equation from the following: (i) Started business with cash Rs 1,00,000. (ii) Purchased goods for cash Rs 20,000 and on credit Rs 30,000. (iii) Sold goods for cash costing Rs Read More …
Question No 6 Chapter No 5 6. Prepare an Accounting Equation and Balance Sheet on the following basis: (i) Ajeet started business with cash Rs 20,000. (ii) He purchased Furniture for Rs 2,000. (iii) He paid rent of Rs 200. Read More …
Question No 5 Chapter No 5 5. Prepare Accounting Equation from the following: (i) Started business with cash Rs. 1,00,000 and Goods 20,000 (ii) Sold goods worth Rs 10,000 and 12,000 (iii) Purchased Furniture on credit for Rs 30,000 Solution Read More …
Question No 4 Chapter No 5 4. What will be the effect of the following on the Accounting Equation? (i) Harish Started Business with cash Rs 18,000 (ii) Purchased goods for cash Rs 5,000 and Credit 2,000 (iii) Sold goods Read More …
Question No 3 Chapter No 5 3. Show the Accounting Equation for the following transactions: (i) Started business with cash Rs 50,000. (ii) Salaries paid Rs 2,000. (iii) Wages outstanding Rs 200. (iv) Interest due but not paid Rs 100. Read More …