Download App

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

CBSE BoardEnglish MediumSTD 11 CommerceAccountRecording of Transactions - 21 Mark
Question
What is a Simple Journal Entry?
✓

Answer

Simple Journal Entry means a Journal entry in which only two accounts are affected, i.e., one account is debited and another account is credited.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "1 Marks Question" from Recording of Transactions - 2→Recording of Transactions - 2 — all question types→Account STD 11 Commerce question papers→CBSE Board STD 11 Commerce question papers→CBSE Board question paper generator→

Similar questions

Name two items which are written in plus column while starting with Overcraft balance of Cash Book.
→
Sale has been made in the year ended 31st March, 2018 but the amount has not been realised. Revenue should be recognised as earned in the year ended 31st March, 2018.
→
State two errors committed in Cash Book which are considered while preparing Bank Reconciliation Statement.
→
  1. A had a capital of ₹ 75,000 on 1st April, 2018. He had also goods amounting to ₹ 15,000 which he had purchased on credit and the payment had not been made. Find out the value of the total assets of the business.
  2. After a period of one month, he came to know that he had suffered a loss of ₹ 1,700. He withdrew ₹ 800 for his personal use. Find out his capital and assets of the business.
→
What is book value or written down value of a fixed asset?
→
Give two examples of Tangible Assets.
→
What is the basic difference between IFRS and Accounting Standards (AS) issued by ICAI (Institute of Chartered Accountants of India)
→
A commenced his cloth business on $1^{\text {st }}$ April, $2018$ with a capital of $₹ 30,000$. On $31^{\text {st }}$ March $2019$ , his assets were worth $₹ 50,000$ and liabilities of $₹ 10,000$. Find out his closing capital and profits earned during the year.
→
Increase in a Liability Account is recorded on its credit side. Give reason.
→
M/s. Auto Aid, Delhi purchased 500 pieces of car horns @ ₹ 200 each less 10% Trade Discount plus IGST @ 12% from M/s Auto Horns, Chandigarh. What is the invoice value?
→