List the accounting standards issued by icai

Assignment Help Financial Accounting

Reference no: EM13179374

Q.1a. List the accounting standards issued by ICAI.

1b. Write short notes of IFRS

Q.2 Prepare a Three-column Cash Book of M/s Thuglak & Co. from the following particulars:

1. Cash in hand Rs. 50,000, Bank Overdraft Rs. 20,000	20X1 Jan
2. Paid into bank Rs. 10,000
3. Bought goods from Hari for Rs, 200 for each
4. Bought goods for Rs. 2,000 paid cheque for them, discount allowed 1%
5. Sold goods to Mohan for each Rs. 1.175
6. Received a cheque from Shyam to whom goods were sold for Rs. 800.Discount allowed 12.5%
7. Shyam's cheque deposited into bank
8. Purchased an old typewriter for Rs. 200 , Spent Rs. 50 on its repairs
9. Bank notified that Shyam's cheque has been returned dishonored and debited the account in respect of charges Rs. 10
10. Received a money order Rs. 25 from Hari
11. Shyam settled his account by means of a cheque for Rs. 820, Rs. 20 being for interest charged.
12. Withdrew from the bank Rs. 10,000
18. Discounted a B/E for Rs. 1,000 at 1% through bank
20. Honored our own acceptance by cheque Rs. 5,000
22. Withdrew fir personal use Rs. 1,000
24. Paid tread expenses Rs. 2,000
25. Withdrew from bank for private expenses Rs. 1,500
26. Purchased machinery from Rajiv for 5,000 and paid him by means of a bank draft purchased for Rs. 5,005
27. Issued cheque to Ram Saran for cash purchased of furniture Rs. 1,575
28. Received a cheque for commission Rs. 500 from R.& Co. and deposited into bank
29. Ramesh who owned us Rs. 500 became bankrupt and paid us 50 paise in the rupee
30. Received payment of a loan of Rs. 5,000 and deposited Rs. 3,000 out of into bank
31. Paid rent to landlord "Mohan" by cheque of Rs. 220
32. Interest allowed by bank Rs. 30
33. Half-yearly bank charges Rs. 50

Reference no: EM13179374

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