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प्रश्न
Select the most appropriate alternatives given below and rewrite the sentence :
____________ is excess of assets over liabilities
विकल्प
Goodwill
Capital
Investments
Drawings
उत्तर
Capital is excess of assets over liabilities
APPEARS IN
संबंधित प्रश्न
Give a word, term, or phrase which can substitute the following statement:
An additional information provided below the Trial Balance.
Select the most appropriate alternatives given below and rewrite the sentence :
Outstanding expenses are shown on the ____________ side of Balance Sheet.
Select the most appropriate alternatives given below and rewrite the sentence :
Fill in the blank :
Income Receivable appears on __________ side of Balance Sheet.
Do you agree or disagree with the following statement :
Bank Overdraft is treated as an Internal Liability
Do you agree or disagree with the following statement:
Capital is excess of Liabilities over Assets.
Bank overdraft should be shown ______.
Balance sheet shows the ______ of the business.
What are wasting assets?
What are fixed assets?
Mention any two differences between trial balance and balance sheet.
“Balance sheet is not an account” – Explain.
What are the advantages of preparing a balance sheet?
What is meant by grouping and marshaling assets and liabilities?
From the following particulars, prepare balance sheet in the books of Bragathish as on 31st December, 2017:
| Particulars | ₹ | Particulars | ₹ |
| Capital | 80,000 | Cash in hand | 20,000 |
| Debtors | 12,800 | Net profit | 4,800 |
| Drawings | 8,800 | Plant | 43,200 |
Prepare trading and profit and loss account in the books of Ramasundari for the year ended 31st December, 2017 and balance sheet as on that date from the following information:
| Particulars | ₹ | Particulars | ₹ |
| Opening stock | 2,500 | Sales | 7,000 |
| Wages | 2,700 | Purchases | 3,300 |
| Closing Stock | 4,000 | Salary | 2,600 |
| Discount received | 2,500 | Capital | 52,000 |
| Machinery | 52,000 | Cash at Bank | 6,400 |
| Creditors | 8,000 |
Prepare trading and profit and loss account and balance sheet in the books of Deri, a trader, from the following balances as of March 31, 2018.
| Particulars | ₹ | Particulars | ₹ |
| Stock | 10,000 | Sales | 1,22,500 |
| Cash | 2,500 | Creditors | 5,000 |
| Bank | 5,000 | Bills payable | 2,000 |
| Freight inwards | 750 | Capital | 52,000 |
| Purchases | 95,000 | ||
| Drawings | 4,500 | ||
| Wages | 27,500 | ||
| Machinery | 50,000 | ||
| Debtors | 13,500 | ||
| Postage (office) | 150 | ||
| Sundry expenses | 850 | ||
| Rent paid | 2,500 | ||
| Furniture | 17,250 | ||
| 2,29,500 | 2,29,500 |
Closing stock (31st March, 2018) ₹ 8,000.
How will the following appear in the final accounts of Karaikudi sports club for the year ending 31st March, 2019?
| Particulars | ₹ |
| Tournament fund on 1st April 2018 | 90,000 |
| Tournament fund investment on 1st April 2018 | 90,000 |
| Interest received on tournament fund investment | 9,000 |
| Donation to tournament fund | 10,000 |
| Tournament expenses | 60,000 |
Compute capital fund of Salem Sports Club as on 1.4.2019.
| Particulars | ₹ | Particulars | ₹ |
| Sports equipment | 30,000 | Prize fund | 10,000 |
| Computer | 25,000 | Prize fund investments | 10,000 |
| Subscription outstanding for 2018-19 | 5,000 | Cash in hand | 7,000 |
| Subscription received in advance for 2019-20 | 8,000 | Cash at bank | 21,000 |
From the following Receipts and Payment account of Yercaud Youth Association, prepare Income and expenditure account for the year ended 31st March, 2019 and the balance sheet as on that date.
| Receipts | ₹ | Payments | ₹ |
| To Balance b/d | By Salary | 14,000 | |
| Cash in hand | 9,600 | By Office expenses | 7,200 |
| To Government grants for purchase of books | 10,000 | By Books purchased | 15,000 |
| To Subscription | 24,800 | By Stationery purchased | 1,800 |
| To Admission fees | 2,000 | By Newspaper purchased | 2,100 |
| To Prize fund receipts | 6,000 | By Prizes awarded | 5,000 |
| To Bank interest | 1,500 | By Balance c/d | |
| To Sale of newspapers | 1,100 | Cash in hand | 9,900 |
| 55,000 | 55,000 |
Additional information:
- Opening capital fund ₹ 20,000.
- Stock of books on 1.4.2018 ₹ 9,200.
- Subscription due but not received ₹ 1,700.
- Stock of stationery on 1.4.2018 ₹ 1,200 and stock of stationery on 31.3.2019, ₹ 2,000.
Following is the Receipts and Payments account of Neyveli Science Club for the year ended 31st December, 2018.
| Dr. | Receipts and Payments Account for the year ended 31st December, 2018 | Cr. | ||
| Receipts | ₹ | Payments | ₹ | ₹ |
| To Balance b/d | By Balance b/d | |||
| Cash in hand | 2,400 | Bank overdraft | 1,000 | |
| To Subscription | 8,700 | By Postage expenses | 200 | |
| To Life membership fees | 5,000 | By Science equipments purchased | 10,000 | |
| To Exhibition fund receipts | 7,000 | By Laboratory expenses | 2,400 | |
| To Sale of science equipments (Book value ₹ 5,000) | 6,000 | By Secretary’s honorarium | 5,000 | |
| To Miscellaneous income | 500 | By Audit fees | 3,600 | |
| By General charges | 1,800 | |||
| By Exhibition expenses | 5,000 | |||
| By Balance c/d | ||||
| Cash in hand | 200 | |||
| Cash at bank | 400 | 600 | ||
| 29,600 | 29,600 | |||
Additional information:
- Opening capital fund ₹ 6,400
- Subscription includes ₹ 600 for the year 2019
- Science equipment as on 1.1.2018 ₹ 5,000
- Surplus on account of exhibition should be kept in reserve for new auditorium.
Prepare income and expenditure account for the year ended 31st December, 2018 and the balance sheet as on that date.
Discuss the need of preparing a balance sheet
Mr. Pramod borrowed a Loan from the State Bank of India ₹ 3,50,000 on 1st Oct. 2018 at the rate of interest of 12% p.a. Calculate the Interest on a bank loan for the year 2018-19, assuming that the financial year-end on 31st March every year.
Annual Insurance Premium ₹ 8,000 is paid on 1st Dec 2018. Calculate the amount of Insurance Premium for the accounting year ending on 31st March 2019.
Calculate the amount of gross profit and operating profit on the basis of the following balances extracted from the books of M/s Rajiv & Sons for the year ended March 31, 2017.
| ₹ | |
| Opening stock | 50,000 |
| Net sales | 11,00,000 |
| Net purchases | 6,00,000 |
| Direct expenses | 45,000 |
| Administration expenses | 45,000 |
| Selling and distribution expenses | 65,000 |
| Loss due to fire | 20,000 |
| Closing stock | 70,000 |
