Theory Base of Accounting — Account STD 11 Commerce — Question

Are there any accounts which are not considered while preparing Trial Balance by Balance Method?

Increase in a Liability Account is recorded on its credit side. Give reason.

A liability is met by issuing a cheque. Which account will you credit and why?

What is meant by Straight Line Method of providing Depreciation?

''Accounting Equation (A = L + C) always holds good under all circumstances''. Explain with the help of two examples.

Rahul sold 100 Cricket Bats to V. Sports @ ₹ 5,000 each less 25% Trade Discount plus IGST @ 12% and 2% Cash Discount if V. Sports paid the amount in 14 days of sale. V. Sports paid the amount within 14 days. What will be the amount that Rahul should credit to Sales Account?

Give an example of a transaction where an asset will increase and also the liability.

A Petty Cashier has an imprest of ₹ 10,000. He is reimbursed the amount spent by him every month. For the month ended 31st March 2017, he submits details of expenses amounting ₹ 9,500. He has with him unpaid expenses vouchers amounting to ₹ 3,200. How much amount should be paid to him?

Depreciation charged on machinery, which accounting voucher will be prepared for it?

The bank has given a wrong credit of ₹ 10,000. The accountant of the firm recorded it in the books of account by crediting the amount to ‘Miscellaneous Income'. Give your opinion with reason, is he correct in doing so?