Class name Subject Book title Chapter number Content Created at
Class XI Accountancy Accountancy-II 1 ­ ­ Gross profit c/d 2,98,400­ ­ ­ ­ 5,20,000­ ­ 5,20,000­ Carriage on sales ­ 3,500­ Gross profit b/d­ 2,98,400­ Advertisement­ 7,000­ Interest on...
Class XI Accountancy Accountancy-II 1 8,700­ Loan (Cr.)­ 25,000­ ­ ­ Interest on loan­ 3,000­ The value of closing stock on March 31, 2026 was ` 25,400 Solution Trading and Profit and L...
Class XI Accountancy Accountancy-II 1 sheet of an accounting period becomes the opening trial balance of the next accounting period. Next year an opening entry is made which opens these...
Class XI Accountancy Accountancy-II 1 provided by financial statements is useful to management to plan and control the business operations. Financial statement are also useful to credit...
Class XI Accountancy Accountancy-II 1 balance sheet. Assets and liabilities shown in the balance sheet are marshalled in order of liquidity or in order of permanence. Questions for Prac...
Class XI Accountancy Accountancy-II 1 I 311 Opening stock­ 15,00,000­ Direct expenses­ 80,000­ (Ans. Gross profit `11,70,000) 2. From the following balances extracted from the books of ...
Class XI Accountancy Accountancy-II 2 318 Accountancy Financial Statements - II 9 n chapter 8, you learnt about the preparation of I simple final accounts in the format of trading and p...
Class XI Accountancy Accountancy-II 2 to the current year that still need to be m­ents. brought into books of account. Such items duly adjusted, the final accounts will not reflect the ...
Class XI Accountancy Accountancy-II 2 which usually need adjustments are: 1. Closing stock 2. Outstanding/expenses 3. Prepaid/Unexpired expenses 4. Accrued income 5. Income received in ...
Class XI Accountancy Accountancy-II 2 accounting period. The adjustment with regard to the closing stock is done by (i) by crediting it to the trading and profit and loss account, and (...
Class XI Accountancy Accountancy-II 2 be separately reflected in the trading and profit and loss account, as it is also adjusted in purchases by recording the following entry: Purchases...
Class XI Accountancy Accountancy-II 2 wages. The item relating to outstanding wages will be shown in balance sheet as follows : Balance Sheet of Ankit as at March 31, 2017 Liabilities­ ...
Class XI Accountancy Accountancy-II 2 the profit and loss account and recognise a current asset of ` 5,000 as an advance salary to the employee. It will be termed as prepaid salary acco...
Class XI Accountancy Accountancy-II 2 end of the same year. Such incomes are known as accrued income. The adjusting entry for accrued income is : Accrued income A/c Dr. To Concerned inc...
Class XI Accountancy Accountancy-II 2 it will be shown in the balance sheet of Ankit on the assets side under the head current asset. Balance Sheet of Ankit as at March 31, 2017 Liabili...
Class XI Accountancy Accountancy-II 2 needs to record an adjustment entry to give effect to income received in advance by way of following journal entry: Rent received A/c Dr. 3,000 To ...
Class XI Accountancy Accountancy-II 2 to depreciation on furniture as follows : Depreciation A/c Dr. 1,500 To Furniture A/c 1,500 Depreciation will be shown in the profit and loss accou...
Class XI Accountancy Accountancy-II 2 of Ankit are reported as ` 15,500. The existence of bad debts in the trial balance signifies that Ankit has incurred a loss arising out of bad debt...
Class XI Accountancy Accountancy-II 2 Assets­ ­ Capital 12,000­ Furniture 15,000­ Add Profit­ 21,500­ ­ 33,500­ Less Depreciation (1,500)­­ ­13,500­ Non-Current Liabilities­ ­ Current A...
Class XI Accountancy Accountancy-II 2 for the year ended March 31, 2017 Dr. Cr. Expenses/Losses­ Amount­ Revenues/Gains­ Amount ` ` Purchases­ 75,000­ Sales­ ,25,000­ Wages 8,000­ Closi...
Class XI Accountancy Accountancy-II 2 should also be taken into account. Let us take an example to understand how bad debts and provision for doubtful debts are recorded. An extract fro...
Class XI Accountancy Accountancy-II 2 discount on debtors. Provision for discount is made on good debtors which are arrived at by deducting further bad debts and the provision for doubt...
Class XI Accountancy Accountancy-II 2 15,000­ Add Net profit 20,623­ ­ 32,623­ Less Depreciation (1,500)­­ ­13,500­ Non-Current Liabilities­ ­ Current Assets­ Long-term loan­ 5,000­ Deb...
Class XI Accountancy Accountancy-II 2 loss account if it is based on : (i) amount of net profit before charging such commission (ii) amount of profit after charging such commission. (i)...
Class XI Accountancy Accountancy-II 2 1,40,000­ Salaries 25,000­ Gross profit b/d­ 56,500­ Less Prepaid salary (5,000)­ ­ 20,000­ Rent of building­­­ 13,000­­ Commission received 5,000­...