Depreciation — Account STD 11 Commerce — Question

What is Cash Discount?

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?

What is the basic difference between IFRS and Accounting Standards (AS) issued by ICAI (Institute of Chartered Accountants of India)

Name two items which are written in plus column while starting with Overdraft balance of Pass Book.

Do you think that a transaction can break the Accounting Equation?

Define Drawings with example.

Give fundamental accounting equation.

Give one special feature of promissory note.

Which accounting principle states that all anticipated losses should be recorded but all anticipated profits should be ignored?

What does a Credit Balance in a Capital Account signify?