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Recording of Tr...

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  • Question 1
    1 / -0

    If the total liabilities of a business decrease by Rs. 5000 what will be the effect on total asset? (assuming the amount of capital remain same) 

  • Question 2
    1 / -0

    Consider the following transaction of Vineet store and find out the total amount of Sales Book and Sales Return Book.

    Date Details
    2023  
    Dec 01

    Sold goods on credit to M/s Rohit Stores as per invoice no.325:

    30 Kids Books @ Rs. 60 each

    20 Animal Books @ Rs. 50 each

    Dec 05

    Sold goods on credit to M/s Mera Stores as per invoice no.328:

    100 Greeting Cards @ Rs. 12 each

    50 Musical Cards @ Rs. 50 each

    Less 5% trade discount

    Dec 10

    Sold Goods on credit to M/s Mega Stationers as per invoice no.329:

    50 Writing Pads @ Rs. 20 each

    50 Colour Books @ Rs. 30 each

    20 Ink Pads @ 16 each

    Dec 15

    Goods Returned from M/s Rohit Stores as per credit note no.201:

    2 Kids Books @ Rs. 60 each

    1 Animal Book @ Rs. 50 each

    Dec 19

    Sold goods on credit to M/s Abha Traders as per invoice no.355:

    100 Cards Books @ Rs. 10 each

    50 Note Books @ Rs. 35 each

    Less 5% trade discount.

    Dec 22

    Goods returned from M/s Mega Stationers as per credit note no.204:

    2 Colour Books @ Rs. 30 each

    100 Fancy Envelopes @ Rs. 5 each

    Dec 26

    Sold goods on credit to M/s Bharti Stores as per invoice no.325:

    100 Greeting Cards @ Rs. 20 each

    Dec30

    Goods returned from M/s Abha Traders as per credit note no.207:

    20 Cards Books @ Rs. 10 each

    5 Note Book@ Rs. 35 each

    Less 5% trade discount

  • Question 3
    1 / -0

    Ledger is a book of _______ in accounting.

  • Question 4
    1 / -0

    In a single-column cash book, which side primarily records cash receipts?

  • Question 5
    1 / -0

    The mathematical expression defining the comparative relationship between assets and liabilities of any person, institution, or business concern is called:

  • Question 6
    1 / -0

    What is the purpose of the double-entry system in accounting?

  • Question 7
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    The bad debts written off as bad, if recovered subsequently, should be credited to:

  • Question 8
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    Which of the following is documentary evidence that records the details of a transaction and is prepared in a specific format?

  • Question 9
    1 / -0

    The periodic total of purchases return journal is posted to :

  • Question 10
    1 / -0

    'The balance of the goods’ account is transferred to:

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