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Categories >> Accounting            Audit (416)   CompanyAffairs CS (153)   Taxation (1819)   Accounting General (2638)   Accounting AllOther (4307)   Suggest New Category      Question  Asked @ Answers Views     select   State with reason which account should be debited and which account should be credited in each of the following transactions: 1. Raj commenced business with cash Rs. 5000 2. Bought goods from Kiran for cash Rs. 1000 3. Sold furniture to Ravi on credit Rs. 500 4. Sold goods for cash Rs. 800 5. cash purchases Rs. 600 6. Bought Stamps Rs. 10 7. Withdrew cash from the business for personal use Rs. 1000 8. Paid salary to manager Rs. 500 9. Paid rent to landlord Rs. 200 10. Received commission from Mani Rs. 50 11. Paid for repairing machinery Rs. 30 12. Received cash form Ravi on account Rs. 400 13. Gave loan to Babu Rs. 500 14. Purchased goods from Sachin Rs. 400 15. Opened a bank account with Rs. 1000 16. Charged Mohan Rs. 50 commission for service rendered to him 17. Santosh paid the interest on loan advanced to him 18. Received loan from Manju Rs.10000 19. Office furniture stolen Rs. 500 20. Paid income tax Rs. 5000 21. Paid life insurance premium Rs. 300 22. Allowed discount to Babu Rs. 90 23. Discount received from Santosh Rs. 150 24. Amount charged by bank as bank charges Rs. 30 25. Railway fright paid on machinery purchased Rs. 100  2  905 Classify the following accounts into Personal Account, Real Account & Nominal Account. Questions Answers 1. Furniture Account 2. Salaries Account 3. Outstanding Wages Account 4. National Trading Co. Ltd’s Account 5. Stationery Account 6. Prepaid Insurance Account 7. Capital Account 8. Interest Account 9. Building Account 10. Purchase Account 11. Cash Account 12. Bank Account 13. Sales Account 14. Commission received in Advance Account 15. Discount Account 16. Drawing Account 17. Loan Account 18. Mysore Store’s Account 19. Repairs to Machinery Account 20. Stock Account 21. Investment Account 22. Loose Tools Account 23. Bangalore Sports Club’s Account 24. Loss of Goods by Fire Account 25. Motor Vans Account 26. International Trader’s Account 27. Goodwill Account 28. Depreciation Account 29. Bad Debts Account 30. Bad Debts Recovered Account 31. Bank Overdraft Account 32. Book Debts Account 33. Purchases Returns Account 34. Sales Returns Account 35. Postage Account 36. Charity Account 37. Carriage Account 38. Rent Account 39. National College’s Account 40. Bills receivable Account 41. Bills Payable Account Bisleri   6  4644 State which of the following are Cash transactions, and which are credit transactions: Questions Answers 1. Anil commenced business with Rs.10,000 2. Bought goods for cash Rs. 2000 3. Bought goods from Balaji on account Rs. 4000 4. Paid Balaji on account Rs. 500 5. Commission received Rs. 50 6. Commission due to Raj Rs. 100 7. Took Loan from Bank Rs. 20,000 8. Interest on loan due to the bank Rs. 200 9. Paid salaries Rs. 200 10. Sold goods for Rs. 1000 11. Sold goods to Eshwar on account Rs. 2000 12. Received from Eshwar on account Rs. 100  3  673 what is a contra entry how it is passed in journal and cashbook?  4  1367 dear sir if i dont know the sell bill amount the. client give me 88036 amount cheque this cheque already cut tds 2.065% how will the service tax how i calculate this pls give easy process.  1  546 CST 2% against C form,Cst 12.5 % without c form, why government is in loss with C form?  5  12709 service tax and vat,both is possible on one item CS-Business-Services  7  5516 How to calculate the interest on housing loan for an LET OUT PROPERTY?  3  1703 Is Taxi bills allowed to claim the LTA?  1  3397 what is the difference between draft and cheque NIIT  3  1012 what is the difference between mutual fund and banks NIIT  1  1610 what is the amount of t.d.s if one get 4000/- monthly from a company on behalf of consultancy charges.  5  1463 what is monthly closings. OPI-Global  1  1937 what is accounting  6  602 what is differance between creditors & expenses for creditors?  3  1597 E-Mail New Answers        Answer Selected Questions        Prev    1   ... 43   ... 85   ... 127   ... 169   ... 211   ... 253   ... 295    351   [352]    353  ... 421   ... 463   ... 505   ... 547   ... 589    Next         Software Interview Questions     Sciences Interview Questions     Engineering Interview Questions     Business Management Interview Questions     Accounting Interview Questions     Advertising Media Interview Questions     Architecture Design Interview Questions     Call Centre Interview Questions     Fashion Modelling Interview Questions     Government Interview Questions     Law Interview Questions     Tourism Hotel Interview Questions     Everything Else Interview Questions     Aptitude Questions Interview Questions     Placement Papers Interview Questions     Certifications Interview Questions     Visa Interview Questions Interview Questions     Code Snippets Interview Questions     Entrance Exams Interview Questions     ERRORS Interview Questions       Un-Answered Questions    Question Views Asked at   Select   When is the profession tax applicable? Is there a liability on the employer to pay PT? What is the amt of PT in case salary exceed Rs. 10,000/- pm 205 ACS if we have provision for bad debts and RDD then on which amount we have to calculate RDD original or deducted? 237   how to work on CMA form in manufacturing compay as well as how to analysis working capital ? 106 TATA explain Dual entry concept 146   How we will dabit profit & Loss a/c in tally because profit & Loss a/c is tally generated a/c. we have to make provision for tax. 563   Distinguish capital and revenue expenditure 103 Genpact Tell About ur self what will i say plz help me 139   Please provide me the entire format of P.F. & ESI 123 Logistics What is the difference between reserve and provision. 207 HP Is there any circumstance where an accountant is allowed to depart from accounting standards while preparing financial statements? If yes explain why, if no explain no. 86   what is audit & activities of auditor? 146 Ferguson what is mean by T and E cosept 138   E-Mail New Answers        Answer Selected Questions

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