SSC CGL Exam > SSC CGL Notes > SSC CGL Tier 2 - Study Material, Online Tests, Previous Year > NCERT Solution (Part - 3) - Accounts from Incomplete Records
NCERT Solution (Part - 3) - Accounts from Incomplete Records | SSC CGL Tier 2 - Study Material, Online Tests, Previous Year PDF Download
Page Number : 481
Numerical Questions :
Question.14 : M/s Saniya Sports Equipment does not keep proper records.From the following information find out profit or loss and also prepare balance sheet for the year ended March 31, 2017
Drawing Rs 10,000 p.m. for personal use, fresh capital introduce during the year Rs 2,00,000. A bad debts of Rs 2,000 and a provision of 5% is to be made on debtors outstanding salary Rs 2,400, prepaid insurance Rs 700, depreciation charged on furniture and machine @ 10% p.a.
Answers :
Note: As per the solution, the profit earned during the year is Rs 1, 71, 400; while, according to the book, the answer is Rs 1, 41,200.
Question.15 : From the following information calculate the amount to be paid to creditors:
Answers :
Question.16 : Find out the credit purchases from the following:
Answers : 
Credit Purchases Rs 2,56,350
Page Number : 482
Numerical Questions :
Question.17 : From the following information calculate total purchases.
Answers : 
Total Purchases = Cash Purchases + Credit Purchases (as per Creditors Account)
= 1,29,000 + 2,01,500
= Rs 3,30,500
Question.18 : The following information is given
Calculate credit purchases during the year
Answer :
Note: In order to match the answer with NCERT book, in the solution bills payable matured has been assumed as bills payable accepted.
Question.19 : From the following, calculate the amount of bills accepted during the year. Rs
Bills payable as on April 01, 2005 1,80,000
Bills payable as on March 31, 2006 2,20,000
Bills payable dishonoured during the year 28,000
Bills payable honoured during the year 50,000
Answer :
Question.20 : Find out the amount of bills matured during the year on the basis of information given below:
Answer :
Bill Payable matured during the year is Rs 38,000.
Question.21 : Prepare the bills payable account from the following and find out missing figure if any :
Answer :
Bills payable discharged is Rs 88,000 and the opening balance of creditors is Rs 79,000.
Page Number : 483
Numerical Questions :
Question.22 :
Answer :
Bills receivable received from Debtors Rs 1,60,000.
The document NCERT Solution (Part - 3) - Accounts from Incomplete Records | SSC CGL Tier 2 - Study Material, Online Tests, Previous Year is a part of the SSC CGL Course SSC CGL Tier 2 - Study Material, Online Tests, Previous Year.
All you need of SSC CGL at this link: SSC CGL
|
1365 videos|1312 docs|1010 tests
|
FAQs on NCERT Solution (Part - 3) - Accounts from Incomplete Records - SSC CGL Tier 2 - Study Material, Online Tests, Previous Year
| 1. What is an incomplete record in accounting? |  |
Ans. An incomplete record in accounting refers to a situation where a business does not maintain complete and systematic financial records. It means that the business does not have proper books of accounts, including cash book, ledger, and other financial statements.
| 2. Why do businesses maintain incomplete records? | |
Ans. There can be several reasons why businesses maintain incomplete records. It could be due to lack of knowledge or understanding of accounting principles, limited resources, or simply negligence. Some small businesses may also find it easier and less time-consuming to maintain incomplete records.
| 3. What are the challenges faced by businesses with incomplete records? | |
Ans. Businesses with incomplete records face several challenges. It becomes difficult to accurately determine the financial position and performance of the business. It also becomes challenging to prepare financial statements, calculate accurate profits, and comply with legal and tax obligations. Additionally, it can hinder the business's ability to attract investors or secure loans from financial institutions.
| 4. How can businesses convert incomplete records into complete records? | |
Ans. To convert incomplete records into complete records, businesses need to undertake a process called reconstruction of accounts. This involves analyzing available financial data, identifying missing transactions, and reconstructing the financial statements. It may require the assistance of an accountant or financial expert to ensure accuracy and completeness.
| 5. What are the advantages of maintaining complete records in accounting? | |
Ans. Maintaining complete records in accounting offers several advantages. It provides a clear and accurate picture of the financial health of the business. It helps in making informed business decisions, analyzing profitability, and identifying areas for improvement. Complete records also ensure compliance with legal and tax requirements, facilitate auditing processes, and enhance the credibility and transparency of the business.
About this Document
|
2.7K Views |
|
4.87/5 Rating |
|
Dec 23, 2024 Last updated |
Document Description: NCERT Solution (Part - 3) - Accounts from Incomplete Records for SSC CGL 2024 is part of SSC CGL Tier 2 - Study Material, Online Tests, Previous Year preparation.
The notes and questions for NCERT Solution (Part - 3) - Accounts from Incomplete Records have been prepared according to the SSC CGL exam syllabus. Information about NCERT Solution (Part - 3) - Accounts from Incomplete Records covers topics
like and NCERT Solution (Part - 3) - Accounts from Incomplete Records Example, for SSC CGL 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises and tests below for NCERT Solution (Part - 3) - Accounts from Incomplete Records.
Introduction of NCERT Solution (Part - 3) - Accounts from Incomplete Records in English is available as part of our SSC CGL Tier 2 - Study Material, Online Tests, Previous Year
for SSC CGL & NCERT Solution (Part - 3) - Accounts from Incomplete Records in Hindi for SSC CGL Tier 2 - Study Material, Online Tests, Previous Year course.
Download more important topics related with notes, lectures and mock test series for SSC CGL
Exam by signing up for free. SSC CGL: NCERT Solution (Part - 3) - Accounts from Incomplete Records | SSC CGL Tier 2 - Study Material, Online Tests, Previous Year
Description
Full syllabus notes, lecture & questions for NCERT Solution (Part - 3) - Accounts from Incomplete Records | SSC CGL Tier 2 - Study Material, Online Tests, Previous Year - SSC CGL | Plus excerises question with solution to help you revise complete syllabus for SSC CGL Tier 2 - Study Material, Online Tests, Previous Year | Best notes, free PDF download
Information about NCERT Solution (Part - 3) - Accounts from Incomplete Records
In this doc you can find the meaning of NCERT Solution (Part - 3) - Accounts from Incomplete Records defined & explained in the simplest way possible. Besides explaining types of
NCERT Solution (Part - 3) - Accounts from Incomplete Records theory, EduRev gives you an ample number of questions to practice NCERT Solution (Part - 3) - Accounts from Incomplete Records tests, examples and also practice SSC CGL
tests
|
1365 videos|1312 docs|1010 tests
|
Download as PDF
|
Explore Courses for SSC CGL exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
Semester Notes
,shortcuts and tricks
,ppt
,Online Tests
,Objective type Questions
,NCERT Solution (Part - 3) - Accounts from Incomplete Records | SSC CGL Tier 2 - Study Material
,mock tests for examination
,Online Tests
,past year papers
,NCERT Solution (Part - 3) - Accounts from Incomplete Records | SSC CGL Tier 2 - Study Material
,Online Tests
,Extra Questions
,MCQs
,Summary
,Previous Year Questions with Solutions
,Previous Year
,Important questions
,Exam
,Previous Year
,Viva Questions
,NCERT Solution (Part - 3) - Accounts from Incomplete Records | SSC CGL Tier 2 - Study Material
,Sample Paper
,video lectures
,practice quizzes
,study material
,Free
,Previous Year
;
Additional Information about NCERT Solution (Part - 3) - Accounts from Incomplete Records for SSC CGL Preparation
NCERT Solution (Part - 3) - Accounts from Incomplete Records Free PDF Download
The NCERT Solution (Part - 3) - Accounts from Incomplete Records is an invaluable resource that delves deep into the core of the SSC CGL exam.
These study notes are curated by experts and cover all the essential topics and concepts, making your preparation more efficient and effective.
With the help of these notes, you can grasp complex subjects quickly, revise important points easily,
and reinforce your understanding of key concepts. The study notes are presented in a concise and easy-to-understand manner,
allowing you to optimize your learning process. Whether you're looking for best-recommended books, sample papers, study material,
or toppers' notes, this PDF has got you covered. Download the NCERT Solution (Part - 3) - Accounts from Incomplete Records now and kickstart your journey towards success in the SSC CGL exam.
Importance of NCERT Solution (Part - 3) - Accounts from Incomplete Records
The importance of NCERT Solution (Part - 3) - Accounts from Incomplete Records cannot be overstated, especially for SSC CGL aspirants.
This document holds the key to success in the SSC CGL exam.
It offers a detailed understanding of the concept, providing invaluable insights into the topic.
By knowing the concepts well in advance, students can plan their preparation effectively.
Utilize this indispensable guide for a well-rounded preparation and achieve your desired results.
NCERT Solution (Part - 3) - Accounts from Incomplete Records Notes
NCERT Solution (Part - 3) - Accounts from Incomplete Records Notes offer in-depth insights into the specific topic to help you master it with ease.
This comprehensive document covers all aspects related to NCERT Solution (Part - 3) - Accounts from Incomplete Records.
It includes detailed information about the exam syllabus, recommended books, and study materials for a well-rounded preparation.
Practice papers and question papers enable you to assess your progress effectively.
Additionally, the paper analysis provides valuable tips for tackling the exam strategically.
Access to Toppers' notes gives you an edge in understanding complex concepts.
Whether you're a beginner or aiming for advanced proficiency, NCERT Solution (Part - 3) - Accounts from Incomplete Records Notes on EduRev are your ultimate resource for success.
NCERT Solution (Part - 3) - Accounts from Incomplete Records SSC CGL Questions
The "NCERT Solution (Part - 3) - Accounts from Incomplete Records SSC CGL Questions" guide is a valuable resource for all aspiring students preparing for the
SSC CGL exam. It focuses on providing a wide range of practice questions to help students gauge
their understanding of the exam topics. These questions cover the entire syllabus, ensuring comprehensive preparation.
The guide includes previous years' question papers for students to familiarize themselves with the exam's format and difficulty level.
Additionally, it offers subject-specific question banks, allowing students to focus on weak areas and improve their performance.
Study NCERT Solution (Part - 3) - Accounts from Incomplete Records on the App
Students of SSC CGL can study NCERT Solution (Part - 3) - Accounts from Incomplete Records alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the NCERT Solution (Part - 3) - Accounts from Incomplete Records,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of NCERT Solution (Part - 3) - Accounts from Incomplete Records is prepared as per the latest SSC CGL syllabus.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup