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Home /Doubts and Solutions/CBSE/Class 11 Commerce/Accountancy

CBSE Class 11 Commerce Accountancy Free Doubts and Solutions

CBSE - XI Commerce - Accountancy

Define sole trading business. Write its merits and demerits.

Asked by thakurjeetendra342 31st January 2023, 10:57 AM
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CBSE - XI Commerce - Accountancy

On 1st January, 2022, Mr. Mukesh Nagpal decided to open a computer training centre in Delhi. purchased a commercial complex measuring 300 square feet carpet area at a cost of ₹3,50,000 and decided to invest ₹2,50,000 as a further capital in the proposed business. He approached Punjab National Bank for loan which agreed to provide 80% loan of the cost of computers. He bought 25 computers of HCL costing ₹30,000 each. He paid ₹1,50,000 and P.N. Bank financed the remaining 80% amount of ₹6,00,000 @ 10% p.a. The loan was payable in 4 annual instalment along with interest due. The transactions during the year were: Purchased Furniture 40,000 Fees received from students 5,90,000 Bought computer stationery 1,10,000 Sale of computer stationery 1,60,000 Wages paid 90,000 Salaries paid 1,25,000 Electricity charges 47,500 Advertisement 22,000 Postage and Call 9,500 General Expenses 6,000 Insurance Premium 4,600 Bought Printer Machine 30,000 He withdrew ₹12,000 p.m. as drawing and repaid the annual instalment of bank loan along with interest due on 31st December 2022. Assume all transactions took place through P.N. Bank. You are required to: (1) Journalise these transactions after considering the following informations: (i) Depreciate building by 5% and computer and furniture @ 10% p.a. (ii) Salary unpaid ₹9,000. (iii) Advertisement includes unissued material worth ₹4,000. (iv) Insurance prepaid ₹ 1,500. (v) Stock of computer stationery ₹19,500. (2) Post them into ledger and prepare Trial Balance. (3) Prepare financial statements for the year ended 31st. December, 2022.

Asked by vanshikasahani638 10th January 2023, 6:49 PM
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CBSE - XI Commerce - Accountancy

On 1st January, 2022, Mr. Mukesh Nagpal decided to open a computer training centre in Delhi. purchased a commercial complex measuring 300 square feet carpet area at a cost of 3,50,000 and decided to invest 2,50,000 as a further capital in the proposed business. He approached Punjab National Bank for loan which agreed to provide 80% loan of the cost of computers. He bought 25 computers of HCL costing 30,000 each. He paid 1,50,000 and P.N. Bank financed the remaining 80% amount of 6,00,000 @ 10% p.a. The loan was payable in 4 annual instalment along with interest due. The transactions during the year were: Purchased Furniture 40,000 Fees received from students 5,90,000 1,10,000 Bought computer stationery Sale of computer stationery 1,60,000 Wages paid 90,000 1,25,000 Salaries paid 47,500 Electricity charges Advertisement 22,000 Postage and Call 9,500 General Expenses 6,000 Insurance Premium 4,600 Bought Printer Machine 30,000 He withdrew 12,000 p.m. as drawing and repaid the annual instalment of bank loan along with interest due on 31st December 2022. Assume all transactions took place through P.N. Bank. You are required to: (1) Journalise these transactions after considering the following informations: (i) Depreciate building by 5% and computer and furniture @ 10% p.a. (ii) Salary unpaid ₹9,000. (iii) Advertisement includes unissued material worth 4,000. (iv) Insurance prepaid ₹ 1,500. (v) Stock of computer stationery 19,500. (2) Post them into ledger and prepare Trial Balance. (3) Prepare financial statements for the year ended 31st. December, 2022.

Asked by vanshikasahani638 9th January 2023, 8:41 PM
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CBSE - XI Commerce - Accountancy

Bharat started his business on 1-1-2017 with cash 10,000 and loan from Lakhan 5,000. On 31-12-2017 his assets were 30,000. Find out his capital and profit on 31-12-2017.

Asked by juhichouhan9the19 27th July 2022, 6:31 PM
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CBSE - XI Commerce - Accountancy

From the following Trading Accounts and profit and Trial Balance of M/s Mehta and Sons as on Account loss and Balance Sheet Particulars Rs. Particulars Cash in hand 50 Bark overdra Bank Balance 600 3,800 Creditors Capital Debtors Bad Debts 125 Provision for bad debts Stock (opening) 3,480 Sales Purchase 5.475 200 Purchase return Commission Sales return 640 Fumiture and fittings Motor vehicles 6.250 7,500 Building Advertisement 450 118 Interest on bank overdraft 1.250 Taxes and Insurance 782 General Expenses Salaries 3,300 268 12500 200 378 Adjustments: Stick on hand on 31-03-2018 Rs. 5,750 1. Depreciate building @ 5%, Fumiture and fitting @ 10% and Motor vehics@20% Rs. 85 is due for interest on bank overdraft iv. Salaries Rs. 300 and tax Rs. 120 are outstanding V One third of the commission received is in respect of the work to be done next yea vi. Further Bad Debts Rs. 100 and make provision for doubtful debts @10%

Asked by adityadutta755 27th June 2022, 11:55 AM
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CBSE - XI Commerce - Accountancy

purchase business for 90,000 rupees

Asked by gappu9480 24th June 2022, 10:19 AM
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CBSE - XI Commerce - Accountancy

goods worth 50 rupees were distributed as free samples?

Asked by gappu9480 24th June 2022, 10:18 AM
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CBSE - XI Commerce - Accountancy

purchased calculator

Asked by amityadav7274 12th May 2022, 11:01 AM
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CBSE - XI Commerce - Accountancy

from the following trail balance of M/S sam and sons prepare trading and profit and loss account and balance sheet

Asked by guptasuyash215 10th February 2022, 10:32 PM
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CBSE - XI Commerce - Accountancy

Vinod Limited purchased amachinery of Rs.3,00,000 on 1st July, 2012 and Rs.3,00,000 on 1st November 2012. Company purchased one moremachinery on 1st January 2013 for Rs.2,00,000. Company sold onemachinery for Rs.2,10,000 on 31st March 2014whichwas purchased on 1st July 2012. Company purchased on second handmachinery on the same day for Rs.1,00,000. Rate of Depreciation is 10% by Straight Line Method and closes its accounts on 31st December every year. Prepare Machinery A/c, Machinery Disposal A/c and Provision for Depreciation A/c

Asked by meet10patel2005 1st February 2022, 12:00 PM
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