Podcast
Questions and Answers
What is the total amount listed for cash at the bank?
What is the total amount listed for cash at the bank?
- Rs. 3,200 (correct)
- Rs. 2,000
- Rs. 1,600
- Rs. 5,200
Which of the following items has the lowest value on the balance sheet?
Which of the following items has the lowest value on the balance sheet?
- Cigar & Cigarettes (correct)
- Cutlery & plate
- Linen
- Glass & China
What is the total value of stock for Wines as of January 1st, 2018?
What is the total value of stock for Wines as of January 1st, 2018?
- Rs. 3,000 (correct)
- Rs. 4,500
- Rs. 5,000
- Rs. 2,000
How much is the total amount for purchases of Fish & Poultry?
How much is the total amount for purchases of Fish & Poultry?
Which of the following represents the total of salaries listed on the balance sheet?
Which of the following represents the total of salaries listed on the balance sheet?
What was the total income from the 'Meals' category?
What was the total income from the 'Meals' category?
Which of the following categories had the highest income?
Which of the following categories had the highest income?
What is the total expense for 'Repairs, Renewals & Depreciation'?
What is the total expense for 'Repairs, Renewals & Depreciation'?
How much closing stock adjustment was accounted for 'Beer'?
How much closing stock adjustment was accounted for 'Beer'?
What is the total debit balance in the cash book?
What is the total debit balance in the cash book?
Flashcards
Balance Sheet
Balance Sheet
A financial statement that reports a company's assets, liabilities, and owner's equity at a specific point in time.
Assets
Assets
Resources owned by a company with economic value.
Share Capital
Share Capital
The total amount of money a company has raised from issuing shares.
Stock on 1st Jan 2018
Stock on 1st Jan 2018
Signup and view all the flashcards
Purchases
Purchases
Signup and view all the flashcards
Pooja Hotel Income (2018)
Pooja Hotel Income (2018)
Signup and view all the flashcards
Pooja Hotel Expenses (2018)
Pooja Hotel Expenses (2018)
Signup and view all the flashcards
Meals Income
Meals Income
Signup and view all the flashcards
Room Income
Room Income
Signup and view all the flashcards
Closing Stock Adjustment (2018)
Closing Stock Adjustment (2018)
Signup and view all the flashcards
Study Notes
Balance Sheet
- Share capital (issued & authorized): 1,60,000
- Pre-hold premises: 1,50,000
- Furniture: 10,000
- Glass & China: 2,000
- Linen: 1,000
- Cutlery & plate: 1,000
- Rates, taxes & insurance: 1,000
- Salaries: 3,000
- Wages: 12,000
- Cash at Bank: 3,200
- Cash in hand: 2,000
- Stock on 1st Jan, 2018
- Wines: 2,000
- Spirits: 1,000
- Beer: 2,000
- Minerals: 1,000
- Cigar & Cigarettes: 400
- S. Provision & Stores: 2,000
- Coal: 600
- Purchases
- Meat: 3,000
- Fish & Poultry: 4,000
- S. Pro. & Stores: 6,000
- Wines: 2,500
- Spirits: 1,500
- Beers: 1,200
- Minerals: 1,200
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Description
This quiz covers the essentials of a balance sheet, illustrated with examples from a financial statement. Test your understanding of asset classification, liabilities, and equity components. Perfect for accounting students looking to strengthen their practical knowledge.
