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class 11th accountancy notes

class 11th accountancy notes

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class 11th accountancy notes
🎉 Quiz Finished! 🎉 Thank you for participating. Keep learning, keep growing, and come back tomorrow for more questions! Free Premium PDFs: acadpills.com/premium Next quiz Wednesday at 19:00

2
Q10/10: A company has an operating profit of Rs 50,000. Non-operating expenses are Rs 10,000 and non-operating incomes are Rs 5,000. Net Profit is:
58
3
Q9/10: Competency: An old machinery was sold for Rs 10k, book value was Rs 12k. Sale proceeds were wrongly credited to Sales Account. How to rectify in Final Accounts?
51
4
Q8/10: Provision for discount on creditors is:
40
5
Q7/10: If Opening Capital is Rs 50,000, Closing Capital is Rs 60,000, Drawings are Rs 15,000, and Additional Capital is Rs 5,000, what is the Profit or Loss?
31
6
Q6/10: Competency: A business has opening stock Rs 20,000, purchases Rs 80,000, and sales Rs 1,20,000. GP margin is 25% on sales. What is the value of closing stock?
33
7
Q5/10: Assertion (A): Accrued income is shown on the asset side of the Balance Sheet. Reason (R): It is an income earned during the accounting period but not yet received.
29
8
Q4/10: What is the treatment of 'Wages and Salaries' vs 'Salaries and Wages' in final accounts?
29
9
Q3/10: Trial balance has Debtors Rs 40k, Bad Debts Rs 1k, Prov. for Doubtful Debts Rs 2.5k. Adjustments: Further Bad Debts Rs 2k, New Prov. 5%. Amount debited to P&L is:
30
10
Q2/10: Sales = Rs 4,00,000; Gross Profit is 25% on cost. What is the Gross Profit?
31
11
Q1/10: Income tax paid by a sole proprietor is:
36
12
✨ Quiz Time! ✨ Answer today's quiz questions and test your knowledge. Every question is a step toward exam success! FREE Premium PDFs Available Here: acadpills.com/premium Good luck!
36
13
🎉 Quiz Finished! 🎉 Thank you for participating. Keep learning, keep growing, and come back tomorrow for more questions! Free Premium PDFs: acadpills.com/premium Next quiz Saturday at 19:00
124
14
Q10/10: Life insurance premium paid by the proprietor from the business bank account is treated as:
118
15
Q9/10: Goods destroyed by fire are Rs 10,000. Insurance company admitted a claim for Rs 8,000. What amount is debited to P&L A/c?
103
16
Q8/10: If Gross Profit is Rs 50,000 and Sales are Rs 2,00,000, what is the Cost of Goods Sold?
88
17
Q7/10: Which of the following is an operating expense?
76
18
Q6/10: Assertion (A): Closing stock is valued at cost or Net Realisable Value, whichever is lower. Reason (R): This is based on the Prudence concept.
65
19
Q5/10: Assertion (A): Provision for discount on debtors is calculated before deducting provision for doubtful debts. Reason (R): Discount is allowed only to good debtors.
62
20
Q4/10: Debtors are Rs 50,000. Further bad debts are Rs 2,000. Provision for doubtful debts is to be created at 5%. What is the provision amount?
67
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