Class name Subject Book title Chapter number Content Created at
Class XI Accountancy Accountancy-II 1 logical groups Do it Yourself Arrange the following items in the order of both permanence and liquidity. Also group them under logical heads : Liab...
Class XI Accountancy Accountancy-II 1 trading expenses 3,200 Sales tax paid 12,000 Discount allowed 2,700 Net profit 2,55,400 (transferred tocapital account) 3,06,300 3,06,300 Balance S...
Class XI Accountancy Accountancy-II 1 debts 5,850 Commission 1,200 Administrative expenses 5,000 Bad debts recovered 2,000 Depreciation 4,200 Apprenticeship premium 4,800 Charity 500 Ba...
Class XI Accountancy Accountancy-II 1 • Gross Profit • Freight • Income Tax • Gross Loss • Interest on Drawings • Interest on Capital • Net Profit • Net Loss • Order of Performance • Re...
Class XI Accountancy Accountancy-II 1 sheet : The balance sheet is a statement of assets and liabilities of a business enterprise and shows the financial position at a given date Inform...
Class XI Accountancy Accountancy-II 1 fixed. (e) Advertising expenditure, the benefits of which will last for four years. 6. What is an operating profit? Long Answers 1. What are financ...
Class XI Accountancy Accountancy-II 1 `3,75,000. Calculate the amount of net profit earned by the firm. (Ans. Net profit `14,75,000) 5. The following are the extracts from the trial bal...
Class XI Accountancy Accountancy-II 1 The following is the trial balance of Manju Chawla on March 31, 2026. You are required to prepare trading and profit and loss account and a balance...
Class XI Accountancy Accountancy-II 1 3,360 Fuel and power 24,800 Opening stock 57,600 Bad debts 9,950 Debtors and Creditors 1,31,200 48,000 Capital 3,48,000 Investment 32,000 Interest ...
Class XI Accountancy Accountancy-II 1 as on March 31, 2026. Account Title Debit Account Title Credit Amount Amount ` ` Buildings 23,000 Sales 1,80,000 Plant 16,930 Loan 8,000 Carriage i...
Class XI Accountancy Accountancy-II 1 2026 `2,500 (Ans. Gross loss ` 1,500, Net loss ` 41,500 , Total balance sheet `3,62,500) Checklist to Test Your Understanding 1. Test Your Understa...
Class XI Accountancy Accountancy-II 2 318 Accountancy Financial Statements - II 9 n chapter 8, you learnt about the preparation of I simple final accounts in the format of trading and p...
Class XI Accountancy Accountancy-II 2 to the current year that still need to be ments. brought into books of account. Such items duly adjusted, the final accounts will not reflect the t...
Class XI Accountancy Accountancy-II 2 which usually need adjustments are: 1. Closing stock 2. Outstanding/expenses 3. Prepaid/Unexpired expenses 4. Accrued income 5. Income received in ...
Class XI Accountancy Accountancy-II 2 profit and loss account, and (ii) by showing it on the asset side of the balance sheet. The adjustment entry to be recorded in this regard is : Clo...
Class XI Accountancy Accountancy-II 2 point to be noted in this context is that when the opening and closing stocks are adjusted through purchases, the trial balance does not show any o...
Class XI Accountancy Accountancy-II 2 and loss account. For example, refer to Ankit’s trial balance (refer figure 10.1). You will notice that wages are shown at ` 8,000. Let us assume t...
Class XI Accountancy Accountancy-II 2 Long-term loan 5,000 Bank 5,000 Current Liabilities Cash 1,000 Creditors 15,000 Closing stock 15,000 Outstanding wages 500 51,500 51,500 9.4 Prepai...
Class XI Accountancy Accountancy-II 2 in the trading and profit and loss account as follows: Trading and Profit and Loss Account of Ankit for the year ended March 31, 2017 Dr. Cr. Expen...
Class XI Accountancy Accountancy-II 2 fellow businessman by introducing few parties to him on commission for this service. In the trial balance of Ankit you will notice an item of commi...
Class XI Accountancy Accountancy-II 2 Sometimes, a certain income is received but the whole amount of it does not belong to the current period. The portion of the income which belongs t...
Class XI Accountancy Accountancy-II 2 Accrued commission 1,500 Creditors 15,000 Bank 5,000 Outstanding wages 500 Cash 4,000 Rent received in advance 3,000 Closing stock 15,000 61,000 61...
Class XI Accountancy Accountancy-II 2 4,500 Net profit (transferred to 24,000 Ankit’s capital account) 63,000 63,000 Notice that the amount of net profit declines with the adjustment of...
Class XI Accountancy Accountancy-II 2 A/c Dr. 2,500 To Debtors A/c 2,500 This entry will reduce the value of debtors to ` 13,000( ` 15,500 – ` 2,500) and increases the amount of bad deb...
Class XI Accountancy Accountancy-II 2 Such provision is called provision for bad debts and is created by debiting profit and loss account. The following journal entry is recorded in thi...