Ledger — Account STD 11 Commerce — Question

Name the external users directly concerned with accounting information.

Jaspal has purchased a car for 5,00,000 which he got financed from a Bank to the extent of 4,00,000. How will it be shown in the accounting equation?

Vikas's Cash Book showed an overdrawn Cash Book balance of ₹ 20,200 on 31st March, 2019. He received a bank statement showing an overdrawn balance of ₹ 20,310 on 31st March, 2019. The reason for the difference is that bank charged ₹ 310 and allowed interest ₹ 200 has not been recorded in the Cash Book. What entries should Vikas pass to update his Cash Book?

What is Accumulated Depreciation?

What is a credit note?

Why is the Journal called a book of Original entry?

Pass Journal entry for purchase of goods by Amrit, Delhi from Ayur Products, Agra, (UP) for ₹ 25,000 less Trade Discount @ 15% plus IGST @ 12%.

No account is opened in the name of the Proprietor in the books of the firm. Give reason.

Name the side on which increase in capital is recorded.

A furniture of book value of ₹ 15,000 was sold for ₹ 6,000 and new furniture was purchased for ₹ 20,000. Furniture Account is debited with ₹ _________.