Podcast
Questions and Answers
Who is referred to as the Father of GT Road in India?
Who is referred to as the Father of GT Road in India?
Which transportation system is used for yacht transport according to the given information?
Which transportation system is used for yacht transport according to the given information?
Which ministry does BJ0 come under?
Which ministry does BJ0 come under?
प्रीपेड इंश्योरेंस का क्या मतलब होता है?
प्रीपेड इंश्योरेंस का क्या मतलब होता है?
Signup and view all the answers
प्रीपेड इंश्योरेंस को क्या भुगतान माना जाता है?
प्रीपेड इंश्योरेंस को क्या भुगतान माना जाता है?
Signup and view all the answers
प्रीपेड इंश्योरेंस को किसे भुगतान करना होता है?
प्रीपेड इंश्योरेंस को किसे भुगतान करना होता है?
Signup and view all the answers
प्रीपेड इंश्योरेंस के बारे में सही विचार क्या है?
प्रीपेड इंश्योरेंस के बारे में सही विचार क्या है?
Signup and view all the answers
'प्रीपेड' का अर्थ क्या होता है?
'प्रीपेड' का अर्थ क्या होता है?
Signup and view all the answers
Study Notes
Trading Account, P&L Account, and Balance Sheet
- As of March 31, 2017, a financial year has ended, and a new one has begun (16-17, NCERT book).
- Three tasks need to be performed: creating a trading account, preparing a profit and loss (P&L) account, and creating a balance sheet.
Adjustments in Trading Account
- Unlike previous questions, adjustments are required in this case.
- Earlier, only closing stock and trial balance were considered.
- Here, additional items are taken into account.
Creating a Provision
- A provision is to be created for 10% of the book debts.
- Book debts refer to the total amount of debt owed to the business.
- The provision is created to account for doubtful debts.
Doubtful Debts
- Doubtful debts are debts that are unlikely to be recovered.
- A provision is created to account for these debts to ensure the business is prepared for potential losses.
Balance Sheet
- The balance sheet will show the provision created on the asset side.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Description
Test your knowledge of transportation infrastructure with this quiz covering road, rail, air, and water routes, as well as key figures and projects in the field.
