Question
What is Balance Sheet?
✓
Answer
Balance Sheet is a statement which sets out the assets and liabilities of the business as at a certain date.
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Similar questions
Calculate the stock at the end:
| ₹ | |
| Stock in the beginning | 10,000 |
| Cash Sales | 30,000 |
| Credit Sales | 20,000 |
| Purchases | 35,00 |
| Rate of Gross Profit on Cost | 1/3 |
Kapil's Trial Balance provides the following information:
Depriciation is privided @ 10% p.a. on the fixed assets. show how this will be shown in the Profit and Loss Account.
Depriciation is privided @ 10% p.a. on the fixed assets. show how this will be shown in the Profit and Loss Account.
“Liabilities side of the Balance Sheet always represents Credit balances.” Do you agree?
When R.D.D. is given in Trial balance, it is known as_______________.
- Old R.D.D.
- New R.D.D.
- Both of the above
- None of the above
The debts written off as bad, if recovered subsequently, are credited to the Debtor's Account. Is it correct? Why?
Who are the parties to a Promissory Note?
What is the need for providing outstanding expenses in final accounts?
How would you treat goods given away as charity while preparing financial statements of an organisation.
Give the adjustment entry and accounting treatment of the following items while preparing financial statements:
- Outstanding Salaries.
- Accrued Interest.
Ascertain the value of Opening Stock from the following:
|
|
₹
|
|
₹
|
|
Purchase
|
1,20,000
|
Closing Stock
|
30,000
|
|
Sales
|
1,90,000
|
Carriage Inwards
|
7,000
|
|
Return Inward
|
10,000
|
Rate of Gross Profit on Sales
|
40%
|
|
Return Outward
|
4,000
|