Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Accounting Basics Expert

problem 1) Answer all the problems:

(i) Describe the ledger account and its format?

(ii) prepare down the difference between Profit and Loss Account and Balance Sheet.

(iii) What do you understand by incomplete records?

(iv) What do you understand by forfeited of share? describe with ex.

(v) Describe any one method of redemption of debenture.

problem 2) What do you understand by accounting? Who are the users of accounting? describe its scope.

problem 3) Define debenture. Differentiate between share and debenture? Describe the various types of debentures.

problem 4) Journalise the following transactions in the books of M/s Manohar & Sons:

2008                                                                                                            Rs.
Jan., 01    Goods purchase for cash                                                              1,200
Jan., 02    Purchase good from Ram                                                              1,500
Jan., 04    Goods sold to Laxman                                                                  1,000
Jan., 05    Furniture purchase for cash                                                              800
Jan., 07    Charge interest on capital                                                              2,500
Jan., 11    Goods return from Laxman                                                               200
Jan., 12    Goods return to Ram                                                                       500
Jan., 14    Withdrew from bank for private use                                                6,000
Jan., 16    Give in charity: Cash                                                                         100
                                    Goods                                                                        200
Jan., 19    Salaries paid by cheque                                                                   4,000
Jan., 21    Goods sold to Sachin on 10% trade discount and 8% Cash discount    1,000
Jan., 23    Laxman become insolvent and could pay only 75 paise in a rupee   
Jan., 26    Proprietor took goods for his personal use                                         2,000
Jan., 29    Postage Rs. 200 and Rent Rs. 1000 Paid   
Jan., 31    Received Rs. 4,000 from insurance company

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M94299

Have any Question? 


Related Questions in Accounting Basics

Accounting paper assignment start-up budgetingfor this

Accounting Paper Assignment: Start-up Budgeting For this assignment, you will decide what type of budget to implement for a start-up company. Write a three to four page paper in which you: 1. Summarize the type of manufa ...

Forwards and options respond to each of the following

Forwards and Options Respond to each of the following questions (notice that there are main questions and sub-questions below some of the main questions - don't miss any!) 1. Suppose you enter into a long 6-month forward ...

Question 1 this problem continues the haupt consulting

Question 1: This problem continues the Haupt Consulting situation from Problem 2-64 of Chapter 2. Start from the trial balance and the posted T-accounts that Haupt Consulting prepared at December 18, as follows: HAUPT CO ...

Part 1true false questionsselect the correct answer1 a

Part 1: True / False Questions Select the correct answer 1. A single plant-wide overhead rate generally provides more accurate product costs than multiple departmental overhead rates. True False 2. The use of a predeterm ...

Problem -the stay healthy medical clinics balance sheet on

Problem - The Stay Healthy Medical Clinic's Balance sheet on December 31, 2014 showed an owner's equity of $1,280,000. The December 31, 2015 balance sheet showed an owner's equity of $1,520,000. During the year, the owne ...

District water company issued 10-year bonds with a face

District Water Company issued 10-year bonds with a face value of $100,000 and a stated interest rate of 8.0%. The bonds are dated April 1, 2016, and call for semiannual interest payments on each April 1 and October 1. Du ...

Assignmentthe company that i chose to research came to me

Assignment The company that I chose to research came to me on the way home from work this week while sitting in traffic. A string of several ads came on the radio and got a little frustrated that my Christmas tunes were ...

Discussionpart 1 please respond the following question no

Discussion Part 1 please respond the following question no less then 350 words (original work, no plagiarism, 1 reference "fairness of the federal estate tax and income and principal in fiduciary accounting" please respo ...

1you have been hired by the cfo of strayer university to

1.You have been hired by the CFO of Strayer University to develop a plan to protect its accounting and financial systems at a reasonable cost. Suggest a high-level plan for the CFO. Provide support for your suggestion. B ...

A tomato farmer with a very large farm of approximately

A tomato farmer with a very large farm of approximately 2200 acres had heard about a new type of rather expensive fertilizer which would supposedly significantly increase his production. The frugal farmer wanted to test ...

  • 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