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 17 Chapter No 8 M/s Vaish Trader, Delhi purchased 500 Parker Pens @ Rs 200 each less trade Discount @ 15% from luxor Pens Ltd., Delhi. CGST and SGST was levied @ 6% each. Further, Cash discount was Read More …
Question No 16 Chapter No 8 M/s Auto Aid, Delhi purchased 500 pieces of car horns @ Rs 200 each less 10% Trade discount plus IGST @ 12% from M/s Auto Horns, Chandigarh. What is the Invoice value? Solution: – Read More …
Question No 15 Chapter No 8 Record the following transactions in the Journal of Ashoka Furniture Traders, Ludhiana(Punjab): 2018 Rs Apr 01 Suresh paid into Bank as capital 60,000 Apr 02 He bought goods for cheque 24,000 Apr 03 Read More …
Question No 14 Chapter No 8 Record the following transactions in the Journal of Ashoka Furniture Traders, Ludhiana(Punjab): 2018 Rs Jan-01 Started business with cash 50,000 Jan-02 Opened a Current Account by personal Cheque 3,50,000 Jan-10 Purchase Machinery against Read More …
Question No 13 Chapter No 8 Journalise the following transactions of Satish, Noida(UP): 2017 Rs Jan 01 Started business with cash 80,000 Jan 01 Cash Paid into bank 50,000 Jan 01 Brought stationery of Rs 300 plus CGST and Read More …
Question No 12 Chapter No 8 Journalise the following transactions of Satish, Noida(UP): 2018 Rs Jan-01 Started business with cash 40,000 Jan-02 Opened Bank account by cheque from Saving Account 60,000 Jan-03 Brought goods from M/s S. Singh & Read More …
Question No 11 Chapter No 8 Following transactions of Ramesh, Delhi for April,2018 are given below. Journalise them: 2018 Rs Apr-01 Ramesh Started business with cash 1,00,000 Apr-02 Deposited cash to open a current account with bank 70,000 Apr-03 Read More …
Question No 10 Chapter No 8 Journalise the following transactions of Ram, Delhi: 2018 Rs Jan-01 Ram commenced business with cash 30,000 Jan-02 Opened Bank account with Union Bank by cheque from savings account 21,000 Jan-03 Purchased goods from Read More …
Question No 9 Chapter No 8 Journalise the following transactions of Rakesh Agencies, Delhi(Proprietor Shri Rakesh): 2018 Rs Jan-01 Rakesh commenced business with cash 50,000 Jan-02 Purchased goods for cash 10,000 Jan-05 Purchased goods from Mohan, Delhi on credit Read More …
Question No 8 Chapter No 8 Journalise the following transactions of Singh Enterprises, Delhi:: 2017 Rs June 01 Started business with cash 50,000 June 02 Deposited cheque from Savings Account in firm’s account 2,00,000 June 03 Received cash from Read More …