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Who are the parties to a Promissory Note?
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Vikas maintains his books of account on Single Entry System. He provides following information from his books. Find out additional capital introduced in the business during the year 2018-19.
| Opening Capital - ₹ 1,30,000 | Drawings during the year ₹ 50,000 |
| Closing Capital - ₹ 2,00,000 | Profit made during the year ₹ 1,00,000 |
Total of the purchase invoices recorded in the Purchases Book is posted to debit side of the Purchases Account in the Ledger and credited to the accounts of suppliers. Do you agree? Give reasons.
What do you mean by posting?
Name AIS sub-systems.
Atul does not keep proper records of his business. He gives you the following information:
Calculate profit or loss for the year.
Calculate profit or loss for the year.
What is Binary System?
Calculate Net Sales and G.P. from the following:
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₹
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Cost of Goods Sold
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4,50,000
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G.P.
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25% on Sales
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Is it possible to prepare a Trial Balance and check the arithmetical accuracy of the books of account under Single Entry System?
Write the various Assets in order of liquidity in a Balance Sheet.
Prepare a Trading Account from the following particulars for the year ended 31st March 2017:
