Bridge Course-Basic Accounts

  Write the rules of debit and credit for personal real and nominal accounts?

Personal account -

Real account -

Nominal account -

Compute Cost of materials consumed:

Opening Inventory= Rs. 250 ; Materials Purchased= Rs. 2,000 ; Closing Inventory= Rs. 300

     Expand CGST, IGST

     Current assets=Rs. 80,000 (inclusive of inventory) ; Current Liabilities= Rs. 50,000; Inventories= Rs. 25,000 Calculate Working capital

 

   Pass the Journal entries for the following transactions :- 01 April – A Started business with cash - 1,00,000

02 April – Purchase goods in cash - 20,000 03 April – Paid electricity Bills - 2,000

04 April – Paid salary to staff - 15,000

 

   What are the two methods of computing Depreciation?

 

      The cost of Machine A is Rs. 6,90,000, and its installation charges amounted to Rs. 10,000. If the scrap value of Machine A is Rs. 20,000 after its useful life of 10 years, what is the amount of annual depreciation of Machine A?

1.      True or false ?

(i)   Provision can not be used for distribution

(ii)   Reserve means undistributed profits

Prepare a trial balance with following information

Capital – 2,00,000     

Creditors - 1,00,000

Purchases - 2,00,000         

Debtors - 3,00,000

Sale - 3,00,000                                  

Stock - 70,000

Cash - 1,80,000                         

     Bank Loan - 1,50,000

     Classify as Capital and revenue expenditure

i) Salary expenses

ii) Purchase of Building iii) Patent rights

iv) Advertisements