Ledger — Account STD 11 Commerce — Question

From the following transactions prepare the Proprietor's Account in 'T' shape:

2013		(₹)
April 1	Commenced business with Cash	5,00,000
August 1	Introduced additional Capital	1,00,000
Dec. 31	Drawings	40,000
2014
Feb. 28	Drawings	20,000
March 31	Net Profit shown by Profit & Loss A/c	1,25,000

Find out the due dates of the bills in the following cases:

	Date of the Bills	Period
I.	29th May, 2017	4 months
II.	31st March, 2017	1 month
III.	21st July, 2017	60 days
IV.	14th May, 2017	90 days
V.	28th January, 2016	1 month
VI.	31st January, 2016	1 month
	Emergency holiday 22nd September

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

A Company has been charging depreciation @ 10% p.a. on original cost method. It now wants to change the method from original cost to diminishing balance method, the rate of depreciation being 15% p.a. Can it do so?

Asha sold goods worth ₹ 19,000 to Nisha on March 2, 2016. ₹ 4,000 were paid by Nisha immediately and for the balance she accepted a bill of exchange drawn upon her by Asha payable after three months. Asha discounted the bill immediately with her bank @ 10% p.a. On the due date Nisha dishonoured the bill and the bank paid ₹ 30 as noting charges.
On 5th June, Nisha paid ₹ 3,030 (including noting charges) in cash and accepted a new bill at one month for the amount due to Asha together with interest @ 15% p.a. Record the necessary journal entries in the books of Asha and Nisha.

Give the rules of Debit and Credit and explain them with imaginary examples.
Under Double Entry System of accounting each transaction has two aspects. One aspect is debit, i.e., receiving or incoming aspect. Another aspect is credit, i.e., giving or outgoing aspect. Debit and credit aspects of a transaction form the basis of Double Entry System.
Rules of Double Entry or Rules of Debit and Credit are formed on the basis of these two aspects in each of the business transactions. There are two approaches for deciding when to write on the debit side of account and when to write on the credit side of an account, i.e., which account is to be debited and which account is to be credited. The rules or: the basis of which such decision is taken are called Rules of Debit and Credit.
Rules of Debit and Credit (Traditional Classification) at a Glance:

S.No	Types of Account	Account to be Debited	Account to be Credited
1	Personal Account	Receiver	Giver
2	Real Account	What comes in	what goes out
3	Nominal Account	Expense and Loss	Income and Gain

From the following transactions, state the nature of accounts and state which account will be debited and which account will be credited:

S.No		₹
1	Mohan started business with cash	5,00,000
2	Purchased goods for cash	1,00,000
3	Sold goods for cash	1,50,000
4	Received interest from Ram in cash	500
5	Sold goods to Ashok	60,000
6	Purchased furniture for cash	50,000
7	Paid wages	20.000

On which side the decrease in the following accounts will be recorded? Also mention the nature of account:

1. Cash
2. Bank Overdraft
3. Rent Paid
4. Salary Paid
5. Outstanding Rent
6. Prepaid Insurance
7. Manoj, Proprietor of the business.

During the financial year 2018-19, Mohan had cash sales of ₹ 90,000 and credit sales of ₹ 60,000. His expenses for the year were ₹ 70,000 out of which ₹ 30,000 is still to be paid. Find out Mohan's income for 2018-19 following the Cash Basis of Accounting.

What are the types of Accounting Voucher?
OR
Name the two types of vouchers (Main Classification).