Introduction to Accounting — Account STD 11 Commerce — Question

What is the basic accounting equation?

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

A Bill of Exchange for ₹ 3,000 drawn on 1st June, 2018 and payable after 3 months was discounted with a bank at 10% p.a. but was dishonoured on due date and 8 were paid as noting charges. What was the amount claimed by the bank from the Drawer?

A cheque to ₹ 32,000 sent to bank for collection has been recorded in the cash book as ₹ 23,000. Will it be recorded in the amended cash book?

Briefly explain Expenditure.

A bill is drawn on 5th February 2019 for one month after sight. Its date of acceptance is 12th February 2019. What will be the due date of the bill?

What is meant by qualitative information?

In which basis of accounting Outstanding expenses are not recorded?

Explain Accrual Concept.

When is Capital Account debited?