Question No.1, Bill of Exchange, Books of A And B, This question is often tested in B.Com part Examinations Financial Accounting Paper, You are required to make entries in the books of both the drawer and the drawee.
Question No.2 Bank Reconciliation, Trading and Profit and Loss Account For preparing bank reconciliation statement , First we will make adjustments in cash book balance , for the items which are only effecting cash book, and then we will use adjusted cash book balance for reconciliation purpose.
Prepare profit and loss account after making necessary adjustments such as Provision for bad debts, outstanding salaries, interest on capital and transfer to reserve Account.
Question No.4 Rectification of Errors, Suspense Account, In rectifications questions it is often asked by Examiner to make suspense account, however in some questions examiner may ask to make adjustments in net profit.
Question No.5 Qaiser ,Statement of Affairs, Profit or Loss Statements For Preparing profit and loss statement, Add drawings, subtract profit on sale of machinery, any capital introduced during the year will also be deducted.