Mr. Suresh, an electronic good dealer, gifted a microwave of value Rs 40,000 to his friend Roshan and recorded it in books as drawings. Is he correct?

Identify some of the accounting concepts in this case study.

What do the following Journal Entries mean?
Tamil Selvi A/c Dr.
To Sales A/c

Prepare Kavitha's account from the following details.

2015 June		Rs
1	Credit Balance of Kavitha's A/c	8,000
15	Amount paid to Kavitha	6,000
18	Goods purchased from Kavitha on Credit	10,000
20	Paid to Kavitha	5,750
	Discount allowed	250
25	Goods purchased from Kavitha	10,000

Explain the principle on which the agreement of trial balance is based.

Why the purchase of typewriter is not recorded? How do you record this transaction?

Give a specimen of 'triple column cash book'.

On 15^th December, one of his customers made online payment to Magesh's current account, amounting to Rs. 1,000. There was no entry in the cash book for this.

What do you mean by errors?

A Company purchased a plant for Rs. 1,00,000. The useful life of the plant is 5 years and the residual value is Rs. 10,000. Find out the rate of depreciation under fixed percentage on original cost method.