Recording of Transactions - 2 — Account STD 11 Commerce — Question

Prepare bank reconciliation statement as on December 31, 2017. This day the passbook of Mr. Himanshu showed a balance of ₹ 7,000.

1. Cheques of ₹ 1,000 directly deposited by a customer.
2. The bank has credited Mr. Himanshu for ₹ 700 as interest.
3. Cheques for ₹ 3000 were issued during the month of December but of these cheques for ₹ 1,000 were not presented during the month of December.

What are errors of Omission?

What entry (debit or credit) would you make to:

1. Increase revenue.
2. Decrease in expense.
3. Record drawings.
4. Record the fresh capital introduced by the owner.

Give one distinction between books of original entry and ledger. Ledger.

State reasons for the following:
The Cash Account and the Bank Account are not posted in the Ledger.

According to which concept, depreciation is to be charged as per one particular method year after year?

On 31st March, 2019. Bank Account in the books of Ramesh shows a credit balance of ₹ 36,000. On the same date, outstanding cheques amounted to ₹ 14,000 and outstanding deposits a mounted to ₹ 20,000. A cheque for ₹ 5,000 received from a debtor, was subsequently dishonoured. The receipt had been correctly recorded but no entry has yet been made in the books for the dishonour. On the basis of the above information, determine the balance as per the Bank Statement.

Prepare a proforma of Petty Cash Book with imaginary figures?

Explain the following:
Consistency Concept.

What is Trade Discount? Give an example.