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Home » Final Accounts: Theory and Practice/Fully Solved: Class 11 Account Note
Final Accounts: Theory and Practice Solved

Final Accounts: Theory and Practice/Fully Solved: Class 11 Account Note

Your All NotesBy Your All NotesDecember 27, 2021Updated:December 27, 2021No Comments22 Mins Read
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Final Accounts: Theory and Practice/Fully Solved: Class 11 Account Note

 

Final Accounts

the accounts which are prepared at end of the financial year are town as final accounts. final accounts show the true and fair financial position if a business organization.

 

final account consists

  1. trading account
  2. profit and loss account
  3. balance sheet
  4. Trading account: – it is the 1st step of final accounts. the objectives of preparation the trading account is to ascertain the gross profit or gross loss of the organization.

Trading account for the year ended.

  1. cr.
Particulars Amount Particulars Amount
To, opening stock xxx By, sales xxx
To, purchase xxx Less: sales sales return xxx
Less: purchase return/ return outward/ return to creditors  

 

xxx

Less: return from customer xxx
Less: return
To, wages xxx Inward xxx xxx
To, wages and salary xxx By, closing stock xxx
To, carriage xxx By, gross loss c/d xxx
To, carriage on purchase Xxx
To, freight and duty xxx
To, custom duty xxx
To, cleaning charger xxx
To, coal, water, gas xxx
To, power, motile power xxx
To, factory rent |rates| taxes xxx
To, factory cleaning xxx
To, factory heating lighting xxx
To, octopi charger xxx
To, royalty on production xxx
To, any factory expn– xxx
To, gross profit c/d xxx
xxx

 

  1. Profit and loss amount: the second stop of final accounts. it ascertain net profit or net loss during an revenue and expenses of an accounting period.
Particular Amt Particular Amt
To, gross loss b/d. xxx By, gross profit b/d xxx
To, salaries and wages xxx By, rent rec. xxx
To, rent rates | taxes xxx By, dividend rec. xxx
To, insurance premium xxx By, interest rec. xxx
To, repair and, maintenance xxx By, sundry income xxx
To, depreciation xxx By,  miscellaneous receipt xxx
To, audit fee xxx
To, bank charges xxx By, com. earned xxx
To, legal expn– xxx By, profit on sale
To, discount allowed xxx Of fixed assets xxx
To, carriage out xxx By, bad debt
To, carriage on sales xxx Recorded xxx
To, commission xxx By, apprentice
To, travelling expn– xxx Premium xxx
To, entertainment expn– xxx Preium xxx
To, advertisement xxx By, net close c/d xxx
To, bad debt xxx
To, packing expn– xxx
To, interest expn– xxx
To, loss by fire |theft| xxx
To, loss on sale of fixed xxx xxx
To, administrative expn– xxx
To, saling expn– xxx
To, trade expn– xxx
To, commission xxx
To, printing and stationary xxx
To, sundry expn– xxx
To, miscellaneous expn– xxx
To, net profit c/d xxx xxx

 

  1. balance sheet: balance sheet is a statements which shows the financial position of an organization. there are two sides of balance sheet one is can and liabilities and other is assets. total liabilities should be equal to the total assets.

classification of assets.

  1. current assets: the assets which can be changed into cash within one year known as current eg, cash balance, bank balance, sundry debaters, bills receivable, inventory, stock, market able securities, assured income, advance expn– etc.
  2. fixed assets: the assets which are durable for long time are known as fixed assets eg. land, building, plant, machinery, equipment, furniture, vehicle etc.
  3. intangible assets:- the assets which have no physical shape are known as intangible assets. eg goodwill, copyright, patent right , trade mark, etc.

 

classification of liabilities

  1. current liabilities: the liabilities which should make payments within a years are known as current liabilities eg sundry creditors, bills payable, outstanding, expn, short term loan, account payable, provision of taxation, proposed dividend, etc.
  2. long term liabilities:- the liabilities which should make payment after one year are known as long term liabilities eg. bank loan, long term loan, mortgage loan , secured loan, bonds debenture etc.
  3. permanent liabilities :- the liabilities which owed by owner known as permanent liabilities capital.

depreciation

model

  1. journal
  2. ledger
  3. subsidiary book
  4. cash book
  5. BRS
  6. depn

 

  1. machinery account

 

Date Particular Jf Amount Date Particulars Jf Amount
2000/01/01 To bank a/c 10000 2000/12/31 By depn a/c 2176
By balance c/d 7824
10000 10000
2001-01-01 To balance b/d 7824 2000-12-31 By depn a/c 1632
By balance c/d 6192
7824 7824
2002-01-01 To balance bld 6192 2002-12-31 By depn alc 1224
By balance c/d 4968
6192 6192
2003-01-01 To balance b/d 4968 2003-12-31 By depn a/c 918
By balance c/d 4050
4968 4968
2004-01-01 To balance b/d 4050

workings

annual depn=total cost-salvage value

working life

=10000-1296                                                                                                     4

=2176

Machinery account

Date Particular Jf Amount Date Particulars jf amount
2006-04-01 To bank a/c 11500 2006-12-31 By depn alc 8625
By, balance c/d 2875
11500 11500
2007-01-01 To, balance b/d 2875 2007-12-31 By, depn– A/c 1150
By, balance c/d 1725
2875 2875
2008-01-01 To, balance b/d 1725 2008-12.31 By, depn– A/c 1150
By, balance c/d 575
1725 1725
2009-01-01 To, balance b/d 575

 

Working

2006-01-01 = 11500

depn                   8625

2007-01-01 = 2875

depn–                 1150

2008-01-01=1725

depn–              1150

575

  1. 5. Working

2006-01-01      11500

depn–                      863

2007-01-01        10637

depn–                       1150

2008-01-01         9487

depn–                      1150

2009-01-01          8337

depn–                      575

  1. V. 7762
  2. V. 6500

Loss                        1262

  1. machinery A/c
Date Particular Jf Amt. Date Particular Jf Amt.
2006-04-01 To, balance A/c

[8000+3500]

11500 2006-12-31 By, depn– A/c 863
2006-12-31 By, balance c/d 10637
11500 11500
2007-01-01 To, balance b/d 10637 2007-12-31 By, depn– A/c 1150
2007-13.31 By, balance c/d 9487
10637 10637
2008-01-01 To, balance b/d 9487 2008-12.31 By, depn– A/c 1150
2008-12.31 By, balance c/d 8337
9487 9847
2009-01-01 To, balance b/d 8337 2009-6-31 By, depn– A/c 575
2009-6-31 By, bank A/c 6500
By, P/L A/c (loss on sale) 1262
8337 8337

 

Date Particular Jf Amt. Date Particular Jf Amt.
2002-01-01 To, bank A/c [40,000+2000+3000] 45000 2002-12.31 By, depn–  A/c 6750
2002-12.31 By, balance c/d 38250
45000 45000
2003-01-01 To, balance b/d 38250 2003-12.31 By, depn-A/c 6750
2003-12-31 By balance c/d 31500
38250 38250
2004-01-01 To, balance b/d 31500 2004-12-31 By, depn-A/c 6750
2004-12-31 By, balance c/d 24750
31500 31500
2004-12.31 By bank A/c 14000
By, P/L A/c 10750
(loss on sale)
2005-1-1 To, bank A/c 60000 2005-12.31 By, depn– A/c 9000
2005-12.31 By, balance c/d 51000
60000 60000
2006-01-01 To, balance b/d 51000 2006-12.31 By, depn– A/c 9000
2006-12-31 By, balance c/d 42000
2007-01-01 To balance b/d 42000

 

Working

2002-01-01                   45000

depn–                              6750

2003-01-01                   38250

depn–                              6750

2004-01-01                   31500

depn–                              6750

2005-01-01          24750 <-   B. V.

  1. S. 14000

Loss 10750

 

machinery A/c

Date Particular Jf Amt Date Particulars Jf Amt.
2000-1-1 To, bank A/c 10000 2000-12.31 By, depn– A/c 4000
2000-12.31 By, balance c/d 6000
10,000 10000
2001-01-01 To, balance b/d 6000 2001-12-31 By, depn– A/c 2400
2001-12-31 By, balance c/d 3600
6000 6000
 2002-01-01 To, balance b/d 3600 2002-12.31 By, depn– A/c 1440
2002-12.31 By, balance c/d 2160
3600 3600
2003-01-01 To, balance b/d 2160 2003-12.31 By, balance c/d 1296
2160 2160
2004-01-01 To, balance b/d 1296

 

R = 1 =

= 1- 4

= 1- 4

= 1-

= 1 – 6/10

= 10-6/10

= 40%

machinery A/c

Date Particular Jf Amt Date Particular Jf Amt
2066-1-1 To, bank A/c 50,000 2066-12.31 By, depn– A/c 5000
2066-12.31 By, balance c/d 45000
50000 50000
2067-07-1 To, balance b/d 45000 2067-12.31 By, depn– A/c [4500+500] 5000
2067-07-01 To, bank A/c 10,000 By, balance c/d 50000
55000 55000
2068-01-01 To, balance b/d 50000 2068-12.31 By, depn– A/c 5200
By balance c/d 46800
52000 52000
2069-01-01 To, balance b/d 46800 2069-6-31 By, bank A/c 5000

 

 

 

1-1-2066                                 50000

depn–                                                            5000

2067-01-01                             45000

depn–                                                            2250

2068-01-01                             42750

depn–                                                            4275

2069629-01-01                      38475

depn–                                                            962

  1. V. 37513
  2. S. 5000

Working

part 1.

2066-1-1               40000       10000                          part 2.

2066-12-31          (4000)       (1000)                  2067-7-1   10000

2067-1-1               36000       9000                     2067-12-31   (500)

2067-12.31          (3600)       (900)                    2068-01-01   9500

2068-01-01          32400       8100                     2068-12-31   (950)

depn–                                (3240)       (810)                    2069-01-01   8550

2069-01-01               29160       7290                     2069-01-01    (855)

2069-6-30                               (325)                    2070-01-01     7695

2069-12.31         (2916)        6925 B. V.

26244 C.V. <- Sp. = 5000

loss: 1925

machinery A/c

Date Particular j.f Amt. Date Particular Jf Amt
2066-01-01 To, bank A/c 50000 2066-12-31 By, depn–  A/c 5000
By, balance c/d 45000
50000 50000
2067-01-01 To, balance b/d 45000 2067-12.31 By, depn A/c 4500
2067-7-1 To, bank A/c 10000 2067-12.31 By, depn A/c 500
By, balance c/d 50000
55000 55000
2068-1-1 To, balance b/d 50,000 2068-12-31 By, depn A/c 4050
2068-12-31 By, depn A/c 950
By, balance c/d 45000
50000 5000
2069-1-1 To, balance b/d 45000 2069-6-30 By, bank A/c 5000
2069-6-30 By, depn A/c 365
By, P/L A/c (loss) 1925
2069-12-31 By depn A/c 2916
855
2070-1-1 To, balance b/d 33939

 

 

Working

2006-1-1                  140000           160000

2006-12.31              (14000)           (16000)

2007-1-1                  126000           144000

(14000)           (16000)

2008-8-1                  112000           128000

2007-7-1                                           (8000)

2008-12-31              (14000)           120000 -> B. V.

B/c->                         98000              132000 -> C. S

profit -> 12000

XYZ transportation company vehicle account [straight line method]

Date Particular Jf Amt  Date Particular Jf Amt.
2006-101 To, bank A/c 140000 2006-12.31 By, depnA/c 30000
2006-1-1 To, bank A/c 160000 By, balance c/d 270000
300000 300000
2007-1-1 To, balance b/d 270000 2007-1-1 By, depn A/c 30000
By, balance c/d 240000
270000 270000
2008-1-1 To balance b/d 240000 2008-7-1 By, bank A/c 132000
By, depn A/c 8000
2008-7-1 To, P/L A/c (profit) 12000 2008-12-31 By, depn A/c 14000
By, balance c/d 98000
252000 252000
2009-1-1 To, balance b/d 98000

 

XYZ transportation company vehicle acc. [diminishing method]

 

Date Particulars Jf Amt Date Particular Jf Amt
2006-1-1 To, bank A/c [140000+160000] 300000 2006-12.31 By, depn |A/c 30000
By, balance c/d 270000
300000 300000
2007-1-1 To, balance b/d 270000 2007-12-31 By, depn A/c 27000
By, balance c/d 243000
270000 270000
2008-1-1 To, balance b/d  243000 2008-7-1 By, bank A/c 132000
2008-7-1 To P/L A/c (profit) 8880 2008-12-31 By, depn A/c 6480
2008-12-31 By, depn A/c 11340
By, balance c/d 102060

 

251880 251880
2009-1-1 To, balance b/d 102060

 

Working – diminishing

2006-1-1                       1440000                              100000

(14000)                    (16000)

2007-1-1                       126000                                    144000

(12600)                                   (14400)

2008-1-1                             113400                                  129600

 

2008-7-1                                                                                   (6480)

123120 ->B. V.

2008-12-31                          (11340)                                                                                                      132000 C. V.

102060                                                                                                        profit: 8880

 

  1. from the following information you are required to prepare machinery account for four different years starting from 1st January 2006.
  2. the book value of the machine was Rs. 40,000 on 1st jan. 2006.
  3. a new machine had been purchased on 1st july 2006 for Rs. 15000.
  4. on 31st dec. 2007 the 1st machine become useless and sold for Rs. 30000.
  5. on 1st jan. 2008 a new automatic machine was purchased for Rs. 40,000.
  6. the account are closed on 31st dec. each year and company chargers depreciation @ 10% P. a on reducing balance method.

ans.: 42788

P/L: 2400

working

  1. machinery (1) machinery (2)
  • machinery (2)
  1. machinery (3)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Date Particular Jf Amt Date Particulars Jf Amt
2006-1-1 To, balance b/d 40000 2006-12.31 By, depn A/c 4750
2006-7-1 To, bank A/c 15000 2006-12.31 By, balance c/d 50250
55000 55000
2007-1-1 To, balance b/d 50250 2007-12.31 By, depn A/c 5025
2007-12.31 By, bank A/c 30000
By, loss sale 2400
By, balance c/d 12825
50250 50250
2008-1-1 To, balance b/d 12825 2008-12.31 By, depn A/c (4000+1283) 5283
2008-1-1 To, bank A/c 40000 By, balance c/d 47542
52825 52825
2009-1-1 To, balance b/d 47542 2009-12.31 By, depn A/c (1154+3600) 4754
By, balance c/d 42788
47542 47542
2010-1-1 To, balance b/d 42788

 

 

 

 

 

 

Accounting equation

s. n. Particulars Assets = Capital + Liability
      i. Business started with Cash: 70000 300000
    ii. Cash and furniture Fur: 100000 Nill
  iii. Beginning equation 300000 300000
  iv. Goods purchase (100000)
    v. Goods: 100000
  vi. New equation 300000 300000 Nill
vii. Goods sold 40000
viii. Goods: (40000)
  ix. New equation 300000 300000 Nill
    x. Purchase furniture Cash: (50000)
  xi. Fur.: 50000
 xii. New equation 300000 300000 Nill
xiii. Sold furniture 20000
xiv. Fur. (20000)
 xv. New equation 300000 300000 nill

 

 

 

 

 

1.

  1. the following transaction are given to you.
  2. raj started business with cash Rs. 200000 and furniture Rs. 100000
  3. purchase goods on cash for Rs. 100000
  4. sold goods on cash Rs. 400000
  5. purchase furniture on cash Rs. 50,000
  6. sold furniture on cash Rs. 20,000

cash

cash deposit (-)

cash withdraw (cash(+))

rent paid, wages paid, etc. …. capital df c;/

profit loss -> capital df

  1. 2
  2. business started with cash Rs. 10000 bank Rs. 5000 and furniture Rs. 10000
  3. purchase goods on cash Rs. 40000
  4. purchase goods on credit Rs. 20000
  5. purchase goods worth Rs. 50,000 paid Rs. 25000 in cash and remaining on credit.
  6. loan taken Rs. 80000
  7. salary paid Rs. 30,000
  8. deposited cash Rs. 5000 into the bank
  9. Advance Rent Rs. 1000
  10. sold goods to mohan for Rs. 5000 at loss Rs. 1000
s. n. Particulars Assets = Capital + Liability
1.  Business started with

 

Cash: 10000
Cash, bank $ furniture Bank: 5000 25000
Fur. 10000
Beginning equation 25000 = 25000 Nill
2 Purchase goods Goods: 40000 – –
Cash: (40000)
New equation 25000 = 25000 = Nill
3 Purchase goods on credit 20,000 20000
New equation 25000 = 25000 = Nill
4 Purchase goods 50000 25000
Cash: (25000) 25000
New equation 7000 25000 45000
5 Loan taken 80000 – 80000
New equation 150000 25000 125000
6 Salary paid (30000) (30000) –
New equation 120000 -5000 125000
7 Cash deposit Cash (5000) (500) –
New equation 115000 -1000 125000

 

 

 

rough

  • cash deposited into bank Rs. 5000

bank A/c Dr.

to, cash A/c

 

  1. cr.

date  particulars jf        C. B. D.       date particulars jf       C. B. D.

to, cash A/c       5000                     by, bank A/c                            5000

  1. journal

date  P. if dr. amount

  1. ledger

date P. jf amt date P. jf amt.

  1. subsidiary book

 

SB/P.B date par. inv. no. if    detail amt            total amt.

S.A/P.A date par. jf amt. date par jf amt

P.R.B. date par.  debit note no. if det. amt      total amt

S.R.B. date par. credit note no. if det. amt      total amt

pur. -> to, sundries sales by jundries

  1. r -> by, sundries sale R. to, sundrise

BRs.

Par.                               amt.       amt.

depn

date par. jf. amt. date par. jf. amt.

to,                         by,

single column cash book

simple cash book

date par. if cash date par.  if cash

simple bank book

date par. if bank  date par. if bank

double column

date par. if. cash bank date par. if. cash bank

date par. if cash disc. date par. if cash disc.

date par. if bank disc. date par. if bank disc.

triple column

date par. i.f cash bank disc.  date par. if. cash bank disc.

Date Particular i.f Dr. amt. cr. amt.
Jan. 1. cash A/c Dr. 150000
             Bank balance A/c Dr. 75000
             To, capital A/c 225000
             {being business started}
Jan. 3 machinery A/c Dr. 45000
             To, cash A/c 45000
             {being purchased machine $ less 10% T. D.}
Jan. 9 wages A/c Dr. 5000
           Salary A/c Dr. 9000
             {being wages $ machinery paid by cheque}
Jan. 13 ABC com. A/c Dr. 20000
             To, mach. A/c 20000
Jan. 19 bank A/c Dr. 19500
             Discount A/c Dr. 500
                To, ABC com. A/c 20000
                {cheque receive for full settlement}

 

Date Particulars If Dr.  amount Cr. amount
Jan. 25  Machinery A/c Dr. 25000
To, discount A/c Dr. 2500
To, bank A/c 22500
Jan. 29 Sarika enterprises A/c Dr. 23000
To, sales a/c 23000
{being good sold to enterprises}
JAN. 30 BANK A/c Dr. 20000
To, cash A/c 20000
{being cash deposited into bank}
Total 394500 394500

 

bank reconciliation statement.

cash book debited -> increase the balance of cash book.

cash book credited -> decrease the balance of C. B.

pass book credited -> increase the balance of P.b.

pass book credited ->  increase the balance of P. B.

notes: cash book and pass book are just opposite of each other.

overdraft and pass book -> same

pass book and overdraft are same

bank recons…. hare two sides

Our cash book and pass book _ bank

 

 

Examples

  1. prepares bank reconciliation statement from the following.
  2. bank balance as per pass book Rs. 1440.
  3. interest credited by bank not recorded in cash book Rs. 160
  4. amount directly deposited by customer not recorded in cash book Rs. 280.
  5. bills receivable collected by bank but not recorded in cash book.
  6. cheque deposited but not collected by 1120.
  7. bank chargers but not recorded in cash book Rs. 130.
Particulars Amount Amount
Balance as per pass book 1440
Add:
Cheque deposited but not collected by bank 1120
Bank chargers but not recorded in cash book 130 1250
2690
Less:
Interest credited by bank not recorded in cash book 160
Amount directly deposited by a customer not recorded in cash book 280
Bills receivable collected by bank not recorded in cash book 620 1060
Balance as per cash book 1630

cash book                    pass book

  •                         + (-)
  •      (+) (-)
  •                            (+) (-)

(+)                       -(+)

(+)                       -(+)

 

journal and ledger

  1. 1
Date Particulars If Dr. amt. Cr. amt.
1. Bank A/c Dr. 200000
To, capital A/c 200000
{being business started}
2. Furniture A/c Dr. 25000
To, bank A/c 25000
{being furniture purchased }
3. Purchase A/c Dr. 200000
To, creditor A/c 100000
To, bank A/c 100000
4. Creditor A/c Dr. 50000
To, bank A/c 50000
{ being paid credit amount by cheque}

 

 

Date Particulars Jf Amount Date Particulars Jf Amount
1 TO, capital A/c 200000 2. By, furniture A/c 25000
3. By, creditor A/c 50,000
4. By, purchase A/c 100000
30. By, b/c c/d 25000

 

Total 200000 Total 200000
To balance b/d 25000

 

furniture

by, bank             250000         by, purchase       100000

to, bank A/c         50000

SA 3.

Date Particulars If Dr. amt. Cr. amt
1. Cash A/c Dr. 200000
Furniture A/ c Dr. 25000
To, capital A/c 225000
{being business started}
2. PURCHASE A/c Dr. 40000
To, ram’s A/c 40000
3. Shiva A/c Dr. 5000
To, sales A/c 5000
4. Ram’s A/c Dr. 40000
TO, disc. A/c 4000
To , cash A/c 36000
Ram’s A/c

to, cash A/c       40000 by, purchase A/c  40000

Nill

 

 

Date Particulars If. Dr. Cr.
1. Cash a/c dr. 50000
To, capital A/c 50000
(being business started)
2. Purchase A/c Dr. 25000
To cash A/c 25000
(being cash purchase)
3. Cash A/c Dr. 6000
Gita A/c Dr. 10000
To sales A/c 16000
4. Cash A/c Dr. 4000
Loan on sales A/c Dr. 1000
To, plant A/c 5000
5. Salary A/c Dr. 5000
To, cash A/c 5000
6. Cash A/c Dr. 9500
Disc. A/c Dr. 500
To, rita’s A/c 10000

to, sales A/c      10000           by, cash A/c         9500

by, disc. A/c         500

Nill

 

  1. bank reconciliation statement

Particulars                                         amount                          amount

balance as per cash book                                                       75000

add

cheque issued and presented

for payment (9000-5000)              4000

-interest given but not recorded

in cash book                                     3500

-cheque issued and credited in     3000                                                                     15500

P.B. (12000-9000)                          5000                                                                     90500

less:

-cheque received but omitted to  15000

banked                                                                                                                            75500

 

  1. R. S.
  2. cash book shows a debit shows a debit balance of Rs. 75000 as on 31st December 2014.
  3. cheques Rs. 9000 issued during the month December out of which cheque of Rs. 5000 were presented for payment.
  4. a cheques of Rs. 15000 received from muna but omitted to be banked.
  5. interest given by bank but not recorded in cash book Rs. 3500.
  6. cheques totaling Rs. 12000 deposited into bank out of which Rs. 9000 credited in pass book only.
  7. debit side of cash book has been under cast Rs. 5000.

...required bank reconciliation statement

Particulars Amt. Amt.
Balance as per cash book 75000
Add:
-cheques issued and presented for payment (9000-5000) 4000
-interest given by bank not recorded in cash book 3500
Debit side of cash book has been under cast 5000 15500
90500
Less:
Cheque received but omitted to be banked 15000
-balance as per pass book 75500

 

 

 

Date Particulars l.f Cash  Bank Disc. Date Particulars l.f Cash Bank Disc.
April To, b/c b/d 20000 50000
April 2 To, mahaniery A/c 9500 500
April 5 To, cash A/c 10000 April 5 By, bank a/c c 10000 C.B. =19000
April 8 By, purchase A/c 5500 9000 B.B = 46000

500

April 9 Tom bank A/c 5000 April 9 By, purchase A/c c 5000
April 1-30 By, balance c/d 19000
April 1-30 By bovee c/d 46000
34500 60000 500 37500 60000 500

 

 

 

 

Date Particulars l.f CASH BANK DISC. DATE PARTICULARS I.F CASH BANK DISC.
APRIL 1 TO, B/C B/D 20000 50000
APRIL 2. TO, MACHINERY A/C 9500 500
APRIL 5 TO, CASH A/C ‘C’ 10000 APRIL 5 BAY BANK A/C ‘C’ 10000
APRIL 8 BY, PURCHASE A/C 5500 9000 500
APRIL 9 TO, BANK A/C ‘C’ 5000 APRIL 9 BY CASH A/C ‘C’ 5000
APRIL 30 BY, B/C C/D 19000
APRIL 1-30 BY, B/C C/D 46000
34500 60000 500 34500 60000 500
MAY 1 TO, B/C B/D 19000
May 1 To, b/c b/d 46000

 

 

 

 

 

 

 

Date Particulars l.f Cash Bank Disc. Date particulars l.f cash bank Disc.
Poush 1 To, balance b/d 30000 1000

00

Poush 10 By, creditors a/c 2700 300
Poush 6 To, debaters a/c 14500 500
Poush 17 To, cash A/c ‘c’ 5000 Poush 17 By, bank A/c ‘c’ 5000
Poush 25 By, salary a/c 30000
Poush 28 By, rent A/c 10000
Magh 1  By, balance c/d 15000
30000 3000
Magh 1 By balance c/d 86800
119500

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Date Particular l.f Cash Bank Disc. Date Particular l.f Cash Bank Disc.
July  1 To, balance b/d 29000 55000 7.3 By, sales A/c 7600 400
7.8 By, furniture 5000 20000
7.13 To, cash A/c ‘c’ 6000 7.13 By, balance A/c ‘c’ 6000
7.19 By, gopal A/c 4500 500
.730 To, muna A/c 1800 200 7.28 By, salary A/c 5000
7.28 By, wages 3000
7200
8.1 By, b/c c/d 30800
30800 8.1 By, b/c c/d 33500
61000 61000

 

 

 

 

 

Answer these

1-> accounting involves the process of identifying, measuring, recording, classifying, summarizing, analyzing, interpreting and communication the economic information of an its users who are directly or indirectly related to the business organization.

2-> credit note is an acceptance letter or statement which is prepared by seller, mentioning, the quantity, rate and total amount of good which is created I debtors account

questions

following of munal furniture are given munal furniture.

poush. 5. purchased on created from Nepal furniture butal

15 tables @ Rs. 10000 each

25 chairs @ Rs. 5000 each

less 5% T. D.

push. 15. purchased from gopal on cash

30 sof a set @ Rs. 2500

push 22 purchased from smariti furniture kathamandu

25 drawers @ Rs. 7000 each

30 tables @ Rs. 5000 each

less 10% T. D. on tables only

required: purchase book.

 

munal furniture

Date Particulars Invo. no. l.f DETAIL AMT. TOTALK AMOUNT
POUSH 5 NEPAL FURNITURE BUTAL

15 TABLES @ Rs. 10000 each

15000
25 chairs @ Rs. 5000 each 125000
Less 5% T. D. 13750 261250
Poush  22 25 drawers @ 7000 each 175000
30 tables @ Rs. 5000 each 150000
Less 10% T. D. on table only 15000 310000
Total 571250

 

questions jk

ashad 5 sold to ram stationary baglung.

30pcs. accounting @ Rs. 500 each

20 pcs. economics @ Rs. 400 each

256 pcs. nepali book @ Rs. 350 each

ashad 9 sold to nep[al book stores ktm.

25 business studies @ Rs. 200 each

30 pcs. markting @ Rs. 150 each

less 10% trade Discount on business studies

required: sales book.

sales book

Date Particulars Invo.no l.f Det. amt. Total amount
Ashasd 5 Ram stationarise baglung
30 pcs acc. @ 500 eacj 15000
20 pcs eco @ Rs. 400 8000
25 pcs nep. @ Rs. 350 each 8750 31750
Ashad  9 Nepal book store ktm.
25 business studies @ 200  each 5000
30 pcs. marketing @ Rs. 150 each
4500
Less T. D. on business 500 9000
Total 40750

 

Date Particulars l. f Dr. Cr.
Jan. 25 Machinery A/c Dr. 25000
To, dis. A/c 2500
To, bank A/c 22500
{being machinery purchased}
Jann. 29 Sarika enterprise A/c Dr. 23000
To, sales A/c {being good sold to sarika}
Jan. 30 Bank A/c DR. 20000
To, cash  A/c 20000
{being cash deposited into bank}
Total 372000 372000

 

 

 

 

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