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  • CBSE×
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Home /Doubts and Solutions/CBSE/Class 11 Commerce/Accountancy Part I/Recording Of Transactions I/Recording Transactions Using Rules Of Debit And Credit

Recording Transactions Using Rules Of Debit And Credit Free Doubts and Solutions

CBSE - XI Commerce - Accountancy Part I - Recording of Transactions - I

Why are rules of debit and credit same for liability and capital?

Asked by Topperlearning User 1st July 2016, 3:14 PM
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CBSE - XI Commerce - Accountancy Part I - Recording of Transactions - I

Open a ‘T’ format cash account. Enter the following transactions on the proper side and balance the account. Goods purchased for cash Rs.40,000 Purchased furniture for cash Rs.3,000 Withdrew cash for personal use Rs.5,000 Sold goods for cash at Rs.60,000

Asked by Topperlearning User 14th June 2016, 11:44 AM
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CBSE - XI Commerce - Accountancy Part I - Recording of Transactions - I

State the rules of debit and credit under the traditional approach.

Asked by Topperlearning User 14th June 2016, 11:36 AM
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CBSE - XI Commerce - Accountancy Part I - Recording of Transactions - I

Following accounts are being maintained in the books of Mr.Vipul. Classify them under personal, real, and nominal accounts. Land Goodwill Bad debts recovered Depreciation Freight Interest received Bank overdraft Investments Drawings Repairs incurred Purchase returns Discount allowed  

Asked by Topperlearning User 14th June 2016, 11:36 AM
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CBSE - XI Commerce - Accountancy Part I - Recording of Transactions - I

On which side, will a decrease in the following account recorded. Also, identify the nature of accounts.  i. Cash  ii. Rent paid  iii. Ashok­­­- Proprietor of business  iv. Bank overdraft  v. Wages paid  vi. Outstanding rent  vii.  Prepaid insurance

Asked by Topperlearning User 14th June 2016, 11:36 AM
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CBSE - XI Commerce - Accountancy Part I - Recording of Transactions - I

What do you understand by personal account? Give examples.

Asked by Topperlearning User 14th June 2016, 11:36 AM
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CBSE - XI Commerce - Accountancy Part I - Recording of Transactions - I

What is the main objective in preparing an account?

Asked by Topperlearning User 14th June 2016, 11:36 AM
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