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Question No 03 Chapter No 1 – USHA Publication 11 Class

Question No 03 Chapter No 1
Q-3 - CH-1 - USHA +1 Book 2020 - Solution

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Question No 03 Chapter No 1

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3. From the following, identify the type of assets :

Computer; Goodwill; Underwriting commission; Short term investment; cash at the bank; Patent right; Oil well; Fixtures; Prepaid commission; Bills receivable; Expenses on Fresh issue of shares

The solution of Question No 03 Chapter No 1: –

Statement showing the type of Assets

 
Fixed Asset
Current AssetFictitious Asset
ComputerShort term investmentUnderwriting commission
GoodwillCash at bankExpenses on the fresh issue of shares
Patent right Prepaid commission 
Oil wellBills receivable 
Fixtures  

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To understand more about Introduction to accounting please check out following links: –

Financial Accounting – Introduction and its Functions

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Also, Check out the solved question of all Chapters: –

Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution

Chapter No. 1 – Introduction

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Chapter No. 2 – Theory Base of Accounting 

Chapter No. 3 – Origin of Transactions

Chapter No. 4 – Vouchers and transactions

Chapter No. 5 – Journal

Chapter No. 6 – Accounting for Goods and Services Tax(GST)

Chapter No. 7 – Ledger

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Chapter No. 8 – Cash Book

Chapter No. 9 – Other Subsidiary Books

Chapter No. 10 – Journal Proper

Chapter No. 11 – Trial Balance

Chapter No. 12 – Bank Reconciliation Statement

Chapter No. 13 – Depreciation

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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)

Chapter No. 18 – Financial Statements – (With Adjustments)

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