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प्रश्न
The main use(s) of a Balance Sheet for a non-trading organisation is/are ______.
पर्याय
Balance Sheet shows the assets owned by a non-trading organisation.
It reveals the liabilities of the organisation.
It shows the financial position of the organisation.
All of these
उत्तर
The main use(s) of a Balance Sheet for a non-trading organisation are Balance Sheet shows the assets owned by a non-trading organisation, It reveals the liabilities of the organisation, It shows the financial position of the organisation.
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संबंधित प्रश्न
Write any two uses of the Balance Sheet?
A ______ is a statement of assets and liabilities at the end of the period. It shows the financial position of a business on a certain date and represents the third and final stage.
The excess of assets over liabilities represents the ______ of the owner.
Distinguish between a Profit and Loss Account and a Balance Sheet.
The following trial balance was extracted from the books of A. Harding, as on 31st March, 2019:
| Debit (₹) | Credit (₹) | |
| Capital | 20,100 | |
| Drawings | 1,500 | |
| Cash in Hand and at bank | 1,400 | |
| Petty Cash | 100 | |
| Cash Purchases and Sales | 10,000 | 20,000 |
| Credit Purchases and Sales | 12,000 | 25,000 |
| Returns | 2,000 | 1,000 |
| Discount | 400 | |
| Carriage Inwards | 500 | |
| Salaries | 6,000 | |
| Sundry and Petty Expenses | 1,200 | |
| Opening Stock | 5,000 | |
| Bad Debts | 600 | |
| Rent | 1,500 | |
| Machinery | 36,000 | |
| Furniture | 5,000 | |
| Debtors and Creditors | 5,000 | 10,000 |
| Stationary | 2,500 | |
| Commission | 200 | |
| Bank Loan | 14,400 | |
| 90,700 | 90,700 |
Prepare the complete set of final accounts for Mr. A. Harding, after incorporating the following adjustment:
- Closing stock is ₹ 26,000.
______ shows the financial position of the organization.
"A trading account reveals the financial position of an organisation." Comment.
State any two uses of Balance Sheet.
Balance sheet is an Account. Justify.
Receipts and payments account serves as the basis for preparing the balance sheet of non-trading organisation.
