USHA Publication +1 Elements of Book-Keeping Solutions Chapter No. 2 - Theory Base of Accounting – Detailed Q&A

Q: Question No 1 Chapter No 2 - USHA Publication 11 Class

Question No 1 Chapter No 2 1. Calculate the commission income for the calendar year 2016 under cash system and accrual system of accounting Rs Commission received in 2016 45,000 Commission accrued (due but not received) 4,400 Commission received in advance 3,200 The solution of Question No 1 Chapter No 2: - (i) Cash System. The commission received during the year 2016 i.e. Rs 45,000will be treated as commission income (ii) Accrual basis. The commission received for the year 2016 i

Q: Question No 2 Chapter No 2 - USHA Publication 11 Class

Question No 2 Chapter No 2 2. From the following information, calculate salary expense for the year 2016-17 Salary Paid during 2016-17 was Rs 66,000. This included salary for the year 2015-16 Rs 9,000 and for the year 2017-18 Rs 7,000 The solution of Question No 2 Chapter No 2: - Particular Amount Salary paid during the year 2016-17 66,000 Less: salary paid for the previous year 2015-16 9,000 Less: Salary Paid for the next year 2017-18 7,000 50,000

Q: Question No 3 Chapter No 2 - USHA Publication 11 Class

Question No 3 Chapter No 2 3. Calculate the interest expense for the calendar year 2015, when books are maintained on (i) cash basis(ii) Mercantile basisInterest paid during 2015 Rs 26,000. Interest dur but not paid on dec. 31,2015 was Rs 2,600. Interest payable on Jan. 1,2015 was Rs 6,200 The solution of Question No 3 Chapter No 2: - (i) Cash Basis . Interest paid during the year 2015 i.e. Rs 26,000is expense for the year. (ii) Mercantile basis. Interest expense for the year 2015 is calculated

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USHA Publication +1 Elements of Book-Keeping Solutions Chapter No. 2 - Theory Base of Accounting – Detailed Q&A | Tutorstips

Question No 1 Chapter No 2 - USHA Publication 11 Class

Question No 1 Chapter No 2

1. Calculate the commission income for the calendar year 2016 under cash system and accrual system of accounting

	Rs
Commission received in 2016	45,000
Commission accrued (due but not received)	4,400
Commission received in advance	3,200

The solution of Question No 1 Chapter No 2: -

(i) Cash System. The commission received during the year 2016 i.e. Rs 45,000will be treated as commission income

(ii) Accrual basis. The commission received for the year 2016 is treated as income, which is calculated as follows:

Particular		Amount

Commission received during the year		45,000
Add: commission Accrued at the end		4,400
		49,400
Less: commission accrued in the beginning		3,200
Commission income		46,200

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USHA Publication +1 Elements of Book-Keeping Solutions Chapter No. 2 - Theory Base of Accounting

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Question No 1 Chapter No 2 - USHA Publication 11 Class

The solution of Question No 1 Chapter No 2: -

Question No 2 Chapter No 2 - USHA Publication 11 Class

Question No 3 Chapter No 2 - USHA Publication 11 Class

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