Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Accounting Basics Expert

problem 1: What do you mean by the term business? Describe the different forms of business organization?

problem 2: ‘Accounting Equation is true beneath all circumstances’. Justify this statement with the help of five exs.

problem 3: prepare short notes on the given terms:

a) Narration
b) Ledger Folio
c) Opening Entry
d) Compound Entry (4 × 3)

problem 4: Prepare a Bank Reconciliation Statement in the books of Neha Ltd. As on 30th June, 2010 from the given information
                                                                                                               Rs.
A) Credit Balance (Overdraft) as per Cash Book as on 30th June, 2010               15,000
B) Cheque deposited but not yet credited by the Bank                                     8,500
C) Another Cheque deposited but dishonored                                                  1,200
D) Cheques issued but not yet presented for payment                                      6,000
E) Interest on overdraft not recorded in Cash Book                                           780
F) A cheque of Rs. 2,420 received from a customer, although entered in the Cash Book, was not sent to bank.

problem 5: ‘Is Trial Balance just a proof of Arithmetical accuracy’? Describe the errors which are not disclosed through a trial balance.

problem 6: What do you meant by the term Suspence Account? Why is it opened and how is it closed?

problem 7: From the given Trail balance of Shri Rai Bahadur prepare Trading and Profit and Loss A/c for the year ending 31st December, 2010 and Balance Sheet as on that date. The Closing Stock on 31st December, 2010 was valued at Rs. 25,000.

1651_Balance sheet.jpg

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M92249

Have any Question? 


Related Questions in Accounting Basics

Question 1how would outstanding checks be handled when

Question 1 How would outstanding checks be handled when reconciling the ending cash balance per the bank statement to the correct adjusted cash balance? A. They would be added to the balance of the bank statement. B. The ...

1identify the impact on operating cash flows increase or

1. Identify the impact on operating cash flows (increase or decrease) for changes in inventory levels (increase or decrease) for both companies for each of the three most recent years. Use Excel for your analysis. See Ch ...

Accountingabsorption and variable costing please respond to

Accounting Absorption and Variable Costing: Please respond to one of the following: Option 1 Create a situation for determining performance evaluations and bonuses where absorption-costing operating income is used both t ...

1 the concept of cost-benefit permeates smart decision

1. The concept of "Cost-Benefit" permeates smart decision making and accounting principles. How does this concept relate to incremental analysis. Provide an example to illustrate your point. Cost Benefit Respond 2. A cos ...

1 the manufacture of herbal health tonic is a competitive

1. The manufacture of herbal health tonic is a competitive industry. The manufacturing facilities have an annual output of 100,000 gallons. Operating costs are $2 per gallon. A 100,000 gallon capacity plant costs $500,00 ...

In january 2013 mitzu co pays 2650000 for a tract of land

In January 2013, Mitzu Co. pays $2,650,000 for a tract of land with two buildings on it. It plans to demolish Building 1 and build a new store in its place. Building 2 will be a company office; it is appraised at $823,50 ...

Questionsq1 discuss how the sec has influence if any over

Questions: Q1: Discuss how the SEC has influence (if any) over the audit of Smackey Dog Foods, Inc. Q2: Discuss the essential activities involved in the initial planning of an audit. How do these all specifically to the ...

Assignmentas the accounting period comes to an end you will

Assignment As the accounting period comes to an end, you will prepare the adjusting and closing entries, as well as prepare the financial statements for Marabelle's Craft 'n Shop. Please use this template to complete you ...

Waupaca company establishes a 480 petty cash fund on

Waupaca Company establishes a $480 petty cash fund on September 9. On September 30, the fund shows $211 in cash along with receipts for the following expenditures: transportation-in, $51; postage expenses, $65; and misce ...

1 what is the difference between a significant deficiency

1) What is the difference between a significant deficiency and a material weakness as it relates to internal Control? How does the presence of one material deficiency affect the auditor's report on internal controls unde ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro