Class name Subject Book title Chapter number Content Created at
Class XI Accountancy Accountancy-II 1 the business or outside the business. All users entry. have different objectives for joining business and Reprint 2026-27 278 Accountancy consequen...
Class XI Accountancy Accountancy-II 1 the aspect is knnown as liquidity. Fig. 8.1 : Analysis of various users of accounting information Reprint 2026-27 Financial Statements - I 279 Box ...
Class XI Accountancy Accountancy-II 1 in the preparation of a balance sheet. 8.2.1 Expenditure Whenever payment and/or incurrence of an outlay are made for a purpose other than the sett...
Class XI Accountancy Accountancy-II 1 accounting year whereas revenue expenditure normally benefits one accounting year. (e) Capital expenditure (subject to depreciation) is recorded in...
Class XI Accountancy Accountancy-II 1 additional capital brought in by the owner or a loan taken from the bank. Both receipts are leading to obligations, the first to the owner (called ...
Class XI Accountancy Accountancy-II 1 In other words, the profit has been over stated. Similarly, if any capital expenditure is wrongly shown as revenue expenditure (for example, purcha...
Class XI Accountancy Accountancy-II 1 revenue/gains. [This trial balance of Ankit will be used throughout the chapter to understand the process of preparation of financial statements] T...
Class XI Accountancy Accountancy-II 1 transferring the balances of revenues and expenses to the trading and profit and loss account from the trial balance. Trading and Profit and Loss a...
Class XI Accountancy Accountancy-II 1 the year and are debited to the trading account. (v) Fuel/Water/Power/Gas : These items are used in the production process and hence are part of ex...
Class XI Accountancy Accountancy-II 1 clubbed together and are called miscellaneous expenses. In normal usage these expenses are called Sundry expenses or Trade expenses. Items on the c...
Class XI Accountancy Accountancy-II 1 following entry: Sales A/c Dr. To Trading A/c Items of expenses, losses, etc. are closed by recording the following entries: Profit and Loss A/c Dr...
Class XI Accountancy Accountancy-II 1 Commission Received Account Dr. Cr. Date Particulars J.F. Amount Date Particulars J.F. Amount ` ` Profit and Loss 5,000 Balance b/d 5,000 5,000 5,0...
Class XI Accountancy Accountancy-II 1 goods and/or rendering of services to customers have proved profitable for the business or not. Purchases is one of the main constituents of expens...
Class XI Accountancy Accountancy-II 1 net loss incurred by the business firm. In an equation form, it is shown as follows : Net Profit = Gross Profit + Other Incomes – Indirect Expenses...
Class XI Accountancy Accountancy-II 1 3,00,000­ Purchases 1,10,000 Less :­Return­ (5,000­) 2,95,000 Less­:­Return­ (7,000) 1,03,000­ ­­­­­­­­­­inwards­ ­­­­­­­­­­outwards Factory­rent­ ...
Class XI Accountancy Accountancy-II 1 and loss account is more than the total of the debit side, the difference is the net profit. II Match the items given under ‘A’ with the correct it...
Class XI Accountancy Accountancy-II 1 to sell goods costing ` 60,000 only. In such a situation, the business will have an unsold stock of goods costing ` 15,000 in hand, also called clo...
Class XI Accountancy Accountancy-II 1 Compute cost of goods sold for the year 2017 with the help of the following information and prepare trading account ` Sales 20, 00,000 Purchases 15...
Class XI Accountancy Accountancy-II 1 revenue over operating expenses. While calculating operating profit, the incomes and expenses of a purely financial nature are not taken into accou...
Class XI Accountancy Accountancy-II 1 Profit (iii) Gross Profit, Operating Profit, Net Profit (iv) Gross Profit, Net Profit, Operating Profit 3. While calculating operating profit, the ...
Class XI Accountancy Accountancy-II 1 31,200 Net Profit (transferred to capital 33,900 Profit on sale of investment 500 account) Dividend on investment 2,500 34,200 34,200 8.6 Balance S...
Class XI Accountancy Accountancy-II 1 a balance sheet Refer to our example -1 you will observe that the trial balance of Ankit depicts 14 accounts, out of which 7 accounts have been tra...
Class XI Accountancy Accountancy-II 1 stock of raw materials, semi-finished goods and finished goods, sundry debtors, short term investments, prepaid expenses, etc. Reprint 2026-27 302 ...
Class XI Accountancy Accountancy-II 1 the balance on his capital account. Therefore, the drawings account is closed by transferring its balance to his capital account. However it is sho...
Class XI Accountancy Accountancy-II 1 loan 5,000 Bank 5,000 Creditors 15,000 Cash 1,000 36,500 36,500 Fig. 8.10 (a) : Items of balance sheet shown in the order of permanance In case of ...