Edaccountancy

ACCA What is ACCA? The ACCA (Association of Chartered Certified Accountants) is a leading global qualification for accountants, providing in-depth knowledge in accounting, finance, and business management. Why Should You Choose ACCA? 🤔 Global Recognition 🌍 🌟: Respected worldwide, enhancing your career prospects internationally.  Comprehensive Curriculum 🙈: Covers everything from basic to advanced financial concepts. Flexible Learning: Study online or in-person to fit your schedule. Real-World Experience: Apply your knowledge through practical work experience. 🧑‍💻 Ethics Focus: Learn about professional ethics and standards. 🧑‍🏫 Course Structure Applied Knowledge 🧠: Basics of accounting and business. Applied Skills : Intermediate skills in financial management and taxation. Strategic Professional: Advanced skills in strategic management and leadership. With an ACCA qualification, you can work in roles such as: Financial Accountant 📑: Manage financial data and reporting. Manage

Introduction: Amitbhai and Narendrabhai are in Partnership sharing Profits and losses equally. from the following Trail balance and Adjustments given below, you are required to prepare Trading and Profit and Loss Account for the year ended 31st March, 2019 and Balance Sheet as on that date. "In this updated guide, we provide a comprehensive accounting solution for Amitbhai and Narendrabhai's are in partnership. This includes detailed steps for preparing the Trading and Profit & Loss Account and Balance Sheet as of 31st March 2019. Recent updates include additional examples, enhanced explanations, and a clearer breakdown of complex concepts to help accounting students better understand the process."      

   2019 April     1. Mr. Anand started business with  cash  Rs.60,000.             5. Purchase goods for cash Rs.30,000.               7. Sold goods of Rs.10,000 to Suresh.                10. Purchased Furniture from Mr. Govind on credit Rs.30,000.               15. Paid for Rent Rs.3,000 and paid by debit card.                21. Purchased goods from Urmila on credit Rs.70,000.                27. Paid for Transport Rs.1,000 to United Transport.                30. Paid to Urmila Rs.20,000 on behalf of Sharmila.      Solution:

Financial literacy is a fundamental skill for children and teens, shaping their understanding of money and promoting responsible financial habits. Using interactive worksheets is an effective way to develop these skills quickly. Let's check out some custom-designed worksheets suitable for different age groups:

Purchase Goods for Cash In this transaction goods “comes in” on purchasing of goods and therefore purchase A/c is debited on purchase of goods and cash goes out therefore cash A/c credited the entry is as follows. Date   Particulars   LF   Debit Amount   Credit Amount   xx   Purchase A/c Dr.   To Cash A/c   [Being the goods were acquired, and the payment was made in cash]     Amount     Amount  

01   Started business with cash   1,20,000   03   Cash paid into bank   50,000   05   Purchased goods from Sushmita   20,000   06   Sold goods to Dinker and received a cheque   20,000   10   Paid to Sushmita cash   20,000   14   Cheque received on December 06, 2010, deposited into bank     18   Sold goods to Rani   12,000   20   Cartage paid in cash   500   22   Received cash from Rani   12,000   27   Commission received   5,000   30   Drew cash for personal use   2,000   Solution:   Cash Book   Dr.                   Cr.   Date   Particulars   LF   Cash   Bank   Date   Particulars   LF   Cash   Bank   2016           2016           Dec.01   Capital     1,20,000     Dec. 03   Bank   C   50,000     Dec.03   Cash   C     50,000   Dec. 10   Sushmita     20,000     Dec.06   Dinker     20,000     Dec. 14   Bank   C   20,000     Dec.14   Cash   C     20,000   Dec. 20   Cartage     500     Dec.22   Rani     12,000     Dec. 30   Drawings   C   2,000     Dec.27   Commission     5,000