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

What went wrongfriends bank is seeking to hire a new teller

What Went Wrong? Friend's Bank is seeking to hire a new teller. Darrell has applied for the position. His application states that five years ago, he was convicted for embezzlement as a teller. In the interview, Darrell r ...

Why does it matter whether social security is considered a

Why does it matter whether Social Security is considered a pension plan or an entitlement program? How does the FASAB direct that Social Security be reported? What unique issues does the federal government face in calcul ...

Question 1the production manager of rordan corporation has

Question 1: The production manager of Rordan Corporation has submitted the following forecast of units to be produced by quarter for the upcoming fiscal year:                                             1st Quarter      ...

Assignmenttravel-r-us inc travel is a publicly-traded

Assignment Travel-R-Us, Inc. (Travel) is a publicly-traded company with annual revenue of $370 million and a fiscal year ending May 31. Travel owns and operates three cruise ships serving Alaska, the Mediterranean, and t ...

Assignment - you are an investment analystas the cfo of

Assignment - You Are an Investment Analyst As the CFO of your corporation, you are in charge of preparing and analyzing financial statements that will be presented to potential investors and creditors. However, before yo ...

Assignmentfinal take home examination on basic erp

Assignment Final Take Home Examination on Basic ERP Configuration Concepts Provide brief but clear and specific answers to the following questions. Consult any sources necessary, including SAP's Help features. 1. What ar ...

As you begin this assignment review the broad range of

As you begin this Assignment, review the broad range of topics presented throughout the course related to using accounting information for decision making. Clearly, 8 weeks does not provide enough time to explore all the ...

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 ...

Discussionaccounting irregularities please respond to the

Discussion "Accounting Irregularities" Please respond to the following: • Imagine that you were auditing accounts receivable balances to confirm sales and found significant discrepancies between the recorded account bala ...

Accounting assignmentthis project requires you to select a

Accounting Assignment This project requires you to select a business and analyze part of its accounting information system. You will focus on a selected business process, develop conclusions from your observations, and a ...

  • 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