Recording Of Transactions CBSE Questions & Answers

Sumit owns a company and purchase goods on credit from his personal funds and used the same for business purpose. What is the effect on assets

Payment to creditors in cash will affect

Match the following options are as follows: a. Personal account b. Nominal Account c. Real Account i. Furniture Account ii. ICICI Bank Account iii. Salary paid

Salary is an ____ for the employer and _____ for the employee

Decrease in ____ is debited

Find out the value of assets if: Liabilities= Rs.5000 and Capital= Rs.1000

Calculate the amount of cash if: Total assets= Rs.10,000 Total liabilities= Rs.10,000 Total Capital= Rs.5000

If Cash= Rs.1000; inventories= Rs.4000 Debtors= Rs.5000; fixed assets=? Capital + Liabilities= Rs.18000. Find out the Amount of fixed assets?

Calculate Return Inward Journal (Book) from the following transactions of M/s Bansal Electronics for November 2010: (a) M/s Gupta Traders returned the goods Rs.1,500 (b) Goods returned from M/s Harish Traders Rs.800 (c) M/s Rahul Traders returned the goods not as per Rs.1,200specifications (d) Goods returned from Sushil Traders Rs.1,000. Options are as follows

Calculate purchase return amount from the following transactions for January 2011. (a) Returned goods to M/s Kartik Traders Rs.1,200 (b) Goods returned to Sahil Pvt. Ltd. Rs.2,500 (c) Goods returned to M/s Kohinoor Traders for list price Rs.2, 000 less 10% trade discount. (d) Return outwards to M/s Handa Traders Rs.550. Options are as follows

A business had net assets at 1 January and 31December 2012 of Rs.75,600 and Rs.73,800 respectively. During the year, the proprietor introduced additional capital of Rs. 17700 and withdrew cash and goods to the value of Rs.16300.What profit or loss was made by the business in 2012

Capital at the end Rs.45,500 and capital in the beginning Rs.50,000. Difference of opening and closing capital is ___

If assets = Rs. 60000 and liabilities = Rs.25000, What is the capital in the business?

Rohit is a sole proprietor has the following balances: Premises- Rs.55000, Cash at bank- Rs.6500, Inventory – Rs.12500 and creditors- Rs.14000. Find out the amount of capital.

Goods costing Rs. 20000 have sold for cash at 25 % profit. By what amount cash will increase