Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Accounting Basics Expert

Question

1 What is cash book? Explain the different types of cash book
2 Prepare a trial balance from the following

Particulars

Amount

Rs.

Particulars

Amount

Rs.

Purchases

    8,225

Premium on lease

      1,200

Wages

    1,025

Loan on mortgage

      2,500

Sales

   12,450

Plant and machinery

      2,000

Arun's capital

   13,500

Provision for doubtful debts

         300

Stock on 1-1-98

     1,500

Sundry debtors

     16,550

Salary

        410

Trade charges

          200

Rent and taxes

        162

Bad debts

          200 

 

 

Sundry creditors

       2,572


3 The bank statement of Arthur & Co showed an overdraft of Rs.5,600 as on 30th September 2010. The cash book, however, showed a positive balance of Rs.2700 as on the same date. The accountant of Arthur & Co found that the difference in the balance is due to the following

  1. Cheques issued to supplier not yet presented Rs.1,500
  2. Cheques deposited in the bank not yet credited Rs.3,000
  3. A cheque received from a customer and deposited into the bank has been wrongly credited by the bank in Mohandas & Co account Rs. 2,000
  4. Dividend received by the bank not yet intimated Rs1,000
  5. Bank charges not yet recorded in the cash book Rs.400

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M9586871

Have any Question?


Related Questions in Accounting Basics

Question - morbes magazine is a magazine publisher who

Question - Morbes Magazine is a magazine publisher who began their operations on April 1, 2018. On this date, Morbes sold 40,000 one-year subscriptions, with each subscriber paying $36. Subscribers are required to pre-pa ...

Question - chopin corporation had these transactions

Question - Chopin Corporation had these transactions pertaining to debt investments: Jan.1 Purchased 90 10%, $1,000 Martine Co. bonds for $90,000 cash. Interest is payable semiannually on July 1 and January 1. July1 Rece ...

Question one typically thinks of c corporations as large

Question: One typically thinks of C corporations as large companies. These corporations are publicly traded and are required to be structured as C corporations. However, not all C corporations are large; many are small, ...

Question - please solve with explanation - candy co

Question - Please solve with explanation - Candy Co. purchased a machine on January 1, 2011, for $300,000. At the time of purchase, the machine was estimated to have a life of 8 years and a residual value of $10,000. In ...

Question - on december 31 year 1 day co leased a new

Question - On December 31, year 1, Day Co. leased a new machine from Parr with the following pertinent information: Lease term 8 years Annual rental payable at beginning of each year $60,000 Useful life of machine 10 yea ...

Question - paid audi company the interest due on the note

Question - Paid Audi Company the interest due on the note of April 15 and renewed the loan by issuing a new 60-day, 8% note for $225,000. Record both the debit and credit to the notes payable account.

Question - dave has had a really good idea for a marketing

Question - Dave has had a really good idea for a marketing campaign for the business he works for. Unfortunately, he is been too busy to write down the idea but he tells his boss Mary about it all the same. Mary writes u ...

Question - on january 1 2018 concord corporation declared a

Question - On January 1, 2018, Concord Corporation, declared a 10% stock dividend on its common stock when the fair value of the common stock was $32 per share. Stockholders' equity before the stock dividend was declared ...

Assignment 2 discussion questionthe finance department of a

Assignment 2: Discussion Question The finance department of a large corporation has evaluated a possible capital project using the NPV method, the Payback Method, and the IRR method. The analysts are puzzled, since the N ...

Question - legacy issues 325000 of 5 four-year bonds dated

Question - Legacy issues $325,000 of 5%, four-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31. They are issued at $292,181 and their market rate is 8% at the issue date. Determ ...

  • 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

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As