Tag: elements of accounts

Practice problems and illustrations for journal entries in accounting

meaning and advantages of subsidiary books

Questions about purchase book, purchase returns book, and related accounting records for credit purchases

accounting procedure for not-for-profit organisations

Types of debentures, their features, security types, and accounting treatment including issue at premium, collateral securities, and interest

Accounting treatment for partner capital adjustments, retirement, and death including revaluation, goodwill, profit sharing ratio changes, and settlement of claims

Tests knowledge of accounting treatment for non-profit organizations including Income and Expenditure accounts, Receipts and Payments accounts, capital vs revenue expenditures, subscriptions, and donations.

meaning, importance and components of voucher

Covers various methods of debenture redemption including sinking fund method, redemption reserves, and accounting entries involved in the redemption process

income and expenditure account