Financial Accounting Class 11

22nd MAY, 2020 DEAR BOYS, THANK YOU SO MUCH FOR LOGGING IN REGULARLY &  COOPERATING WITH ALL THE NECESSARY TASKS TO BE DONE AT YOUR END.  WE ARE NOW GEARED UP FOR OUR SUMMER BREAK. TAKE A GOOD REST.  DO WHAT YOU LIKE BUT KEEPING YOURSELF SAFE. YET,  OVER AND ABOVE, THERE IS SOME PRACTICE  REQUIRED IN THE NEW LANGUAGE OF ACCOUNTING, THAT YOU ARE IN THE PROCESS OF LEARNING. THAT SHOULD GO ON ALONG WITH YOUR OTHER CHORES. SO, NOT MUCH, BUT ONLY 15 JOURNAL ENTRIES A WEEK WILL BE SENT FOR  YOUR HOLIDAY ASSIGNMENT. THIS  WILL BE MARKED FOR YOUR PROJECT IN THE FIRST TERM. THE WEIGHTAGE OF THE PROJECT WORK IS OF 20 MARKS. MAINTAIN A THIN, LONG  REGISTER FOR THIS PROJECT ASSIGNMENT. THE ASSIGNMENT WILL BE DIVIDED INTO 5 PARTS.  FIVE ASSIGNMENTS WILL BE ASSIGNED FOR 5 WEEKS.  THE JOURNAL TRANSACTIONS SHOULD BE WRITTEN. ( BEFORE JOURNALISING) THE PROFORMA OF THE JOURNAL BE LEGIBLY DRAWN. HOLIDAY PRACTICE ASSIGNMENT # 1 1 Manu started bus

TASK # 1  DO THE ASSIGNMENT  GIVEN BELOW FOR PRACTICE. ASSIGNMENT # 17 JOURNALISE THE FOLLOWING TRANSACTIONS: REMEMBERING THE STEPS TO JOURNALISE: 1. Cheque received from Ravi 5,000 and allowed discount 1,000.      2.  Ravi's Cheque endorsed to              Sunil in full settlement of Rs            5,500.   3. Ravi's             Cheque  dishonoured (Bounced). 4. Customer's          taxi fare paid      Rs. 1,000, as        customer lost      his purse.   5. 500 due from Amrit are Bad Debts. TASK # 2 CHECK THE ANSWERS TO THE ASSIGNMENT # 16 1 Purchased goods costing Rs. 50,000 in Rs. 60,000 from Lakshman. 2 Half of the goods purchased from lakshman sold at a profit of 20 % and received 50 % amount immediately. 3 Sold goods costing Rs. 5,000 for Rs. 6,000 4 Sold goods costing Rs. 5,

TASK # 1  DO THE ASSIGNMENT  GIVEN BELOW FOR PRACTICE. ASSIGNMENT # 16 JOURNALISE THE FOLLOWING TRANSACTIONS: REMEMBERING THE STEPS TO JOURNALISE: 1 Purchased goods costing Rs. 50,000 in Rs. 60,000 from Lakshman. 2 Half of the goods purchased from lakshman sold at a profit of 20 % and received 50 % amount immediately. 3 Sold goods costing Rs. 5,000 for Rs. 6,000 4 Sold goods costing Rs. 5,000 for Rs. 4,000 5 Sold goods worth Rs. 10,000 to a creditor. TASK # 2 CHECK THE ANSWERS TO THE ASSIGNMENT # 15 1 Received an order of goods for Rs. 50,000 from Rinku and Received 10 % as advance. 2 Rinku's order was executed and balance money received by   cheque. 3 Wages of Rs. 1,000 paid by owner from his personal funds. 4 Rent of owners personal house paid from office cash Rs. 2,000.

TASK # 1  DO THE ASSIGNMENT  GIVEN BELOW FOR PRACTICE. ASSIGNMENT # 15 JOURNALISE THE FOLLOWING TRANSACTIONS: REMEMBERING THE STEPS TO JOURNALISE: 1 Received an order of goods for Rs. 50,000 from Rinku and Received 10 % as advance. 2 Rinku's order was executed and balance money received by cheque. 3 Wages of Rs. 1,000 paid by owner from his personal funds. 4 Rent of owners personal house paid from office cash Rs. 2,000. 5 Paid Rs. 250 for subscribing for newspapers. 6 Received Rs. 700 from sale of old chairs and tables. 7 Paid interest on Loan Rs. 300. 8 Goods stolen of cost price Rs. 2,000 (sales price Rs. 3,000). 9 Paid income tax Rs. 1,000 and Life Insurance Premium Rs. 4,000. 10 Paid Life Insuran