A prepayment of insurance premium will appear in ______.

If there is no existing provision for doubtful debts, provision created for doubtful debts is ______.

_____ principle requires that generally the revenue should be recognised in the period in which sale is deemed to have occurred.

______ is treated asbusiness expense.

_______ is a loss for the business and should be adjusted against profit.

The Trial Balance shows bank loan Rs.5,00,000 at 12% on 01-01-2015. Interest paid Rs.40,000. Interest outstanding is ______ as on 31-12-2015.

The unsold goods in the business at the end of the accounting period are termed as __________

Trial balance as on 31.12.2017. Shows sundry debtors Rs.55,000. As per given adjustments, if Rs. 5,000 is to be written off as bad debts, the provision for bad and doubtful debts at 2% will be Rs.________.

Debts which cannot be recovered or irrecoverable are called _________.

 Wages outstanding is_________.

What is outstanding expense?

What are accrued incomes?

What is Interest on loan?

How will the following adjustment appear in the balance sheet as on 31-12-2010?
Sundry Debtors Rs.21,000
Bad debts to be written off Rs.1,000
Provide 5% provision for bad and doubtful debts and 2% provision for discount on debtors.

If unearned income is credited to the profit and loss account would it be correct?

Pass adjusting entries for the following on 31st March, 2018.
(i) Charge interest on drawings at Rs. 50
(ii) Write off bad debts by Rs. 500
(iii) Depreciate furniture by Rs. 1,000

Give the adjusting entries for interest on capital and interest on drawings.

Explain the concept of Matching Principle.

What is Credit balance?

Pass necessary Adjusting entries for the following adjustments:
a) Interest on loan outstanding Rs.5,000
b) Depreciation @ 5% on furniture Rs.50,000
c) Write off bad and doubtful debts Rs.3,000
d) Provide provision for bad and doubtful debts @ 5% on sundry debtors Rs.4,00,000
f) Provide provision for discount on creditors @ 2% on sundry creditors Rs.3,50,000

An abstract of the trial balance as on 31^st December, 2016 is as follows:

Adjustment: Create a provision for bad and doubtful debts @ 5% on sundry debtors. Pass the adjusting entry and show how these items will appear in final accounts.

The following is the Trial balance extracted from the books of Mr. Mohan as on 31-12-2017. Prepare Trading and Profit and loss account and Balance sheet on 31-12-2017.

 Adjustments:
(i) Outstanding rates and taxes Rs.1,600
(ii) Insurance premium prepaid Rs.200
(iii) Maintain provision for bad and doubtful debts at 5% on debtors,
(iv) Depreciate Motor Car by 10%. Furniture by 4% and Buildings by 3%.
(v) Stock on 31-12-2017 Rs.20,000.

Following is the trial balance of Brijesh. Prepare final accounts for the year ended on 31^st March, 2016

Adjustments:
(i) Stock on 31^st March, 2016 was valued at Rs. 4,00,000.
(ii) Depreciate furniture @ 10% p.a.
(iii) Insurance of Rs. 60,000 was paid in advance
(iv) Commission receivable Rs. 50,000.