Question No 03 Chapter No 1 – USHA Publication 11 Class

Question No 03 Chapter No 1

Question No 03 Chapter No 1

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 Asset Fictitious Asset
Computer Short term investment Underwriting commission
Goodwill Cash at bank Expenses on the fresh issue of shares
Patent right  Prepaid commission  
Oil well Bills receivable  

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

Financial Accounting – Introduction and its Functions

Thanks, Please Like and share with your friends  

Comment if you have any question.

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

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

Chapter No. 1 – Introduction

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

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

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)

Leave a Reply

Your email address will not be published. Required fields are marked *