The credit balance of a personal account shows:
The miscellaneous expenses account is likely to have :
From the following information ascertain the closing balance of debtors:
Opening balance of debtors Rs. 32,600; total sales Rs. 1,03,000; cash collected from debtors Rs. 70,000 sales return Rs.1,500; discount on purchases Rs. 1,200; cash sales Rs. 43,000; bad debts Rs. 700:
Debtors a/c=Debit side in so opening debtors +credit sale -(cash received +sale return + bad debts) in credit side=closing debtors
32600+60000 - (70000+1500+700) =20400
Journal and ledger records transactions in
Ledger book is popularly known as
Which of the following is a real account?
After recording the transactions and events in journal and subsidiary books, they will be transferred to
Ledger Book is popularly known as:
Which of the following accounts may have a debit or a credit balance?
The process of transferring the debit and credit items from a Journal to their respective accounts in the ledger is termed as
Goods costing Rs. 5,000 given to a worker towards wages Rs. 5,000. Market price of goods is Rs. 6,000. Journal entry will be
Which of the following is known as “Principal Books of Accounts”?
Credit balance in ledger will be either:-
'A' purchased a computer having MRP of Rs. 60,000 for Rs. 45,000 and was offered a cash discount of Rs.9,000. At what percentage he got trade discount on MRP before getting cash discount?
Market Price =Rs. 60,000
Less: Purchase Price =Rs. 45,000
Trade discount before discount =Rs. 15,000
Less: Cash Discount =Rs. 9,000
Trade discount after cash discount =Rs. 6,000
Percentage of Trade Discount= (15,000/60,000)*100
The next step after preparation of Ledger is the preparation of ________: