File Details:

Questions:

1. What is the objective of preparing a Trial Balance?
2. What do you mean by journalising?
3. Define Accounting. What are its main objectives?
4. Distinguish between Book-keeping and Accounting.
5. Explain the necessity of preparing Final Accounts.
6. Write Journal entries of the following: Goods worth 5,000 and Cash 2,000 were stolen by an employee. Provide 15% depreciation on Furniture costing 10,000.
7. What do you understand by Accounting Principles?
8. Distinguish between Capital expenditure and Revenue expenditure.
9. Explain the procedure of calculating loss of stock under a Fire Policy.
10. What is Accounting? Outline the need for Accounting and briefly describe the objects of Accounting.
11. What is Voyage Account? Why is it prepared? How is profit ascertained in case of Incomplete Voyage?
12. From the following figures of Abdulla of Kanpur, prepare a Statement of Affairs and a Deficiency Account as at 31 March, 2017. Assume specified realizations for assets and details provided for liabilities.
13. Prepare Branch Account in the books of Head Office showing Branch Account based on details of transactions for Lucknow Branch.
14. What is meaning of "Loss of Profit Policy"? How the amount of claim is calculated under the loss of profit policy?
15. Mention the necessary entries in the books of the buyer as well as the seller when goods are sold on the hire-purchase system.
16. Prepare the necessary accounts in the books of Lessee Vishnoi for first four years based on given lease details.
17. Show the Machinery Account and B's Account in the books of A based on given hire-purchase agreement.