Question

Give two example of transaction which are not recorded in accounting in acccoun for class 11th

Answer 1

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• Kathy owns a florist shop, and to expand her business with deliveries, she bought a second-hand delivery van worth $ 30,000. She made the cash payment to the seller.
• Now, with the same example, consider Kathy hired an employee on January 1st, 2019, on a monthly salary payable of ,000 on the 1 day of the next month.
• ABC Corporation acquired Best Corporation in May 2018. ABC paid $ 1 million to Best in return for purchasing its goodwill. Goodwill at this time was worth $ 900,000 in the market, so Best Corp made a profit of $ 100,000 from this sale.
• Fast-track courier services decided to make developments in its operations for which they opened a new department. Below is a list of transactions they made.

Answer 2

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Explanation:

• Kathy owns a florist shop, and to expand her business with deliveries, she bought a second-hand delivery van worth $ 30,000. She made the cash payment to the seller.
• Now, with the same example, consider Kathy hired an employee on January 1st, 2019, on a monthly salary payable of ,000 on the 1 day of the next month.
• ABC Corporation acquired Best Corporation in May 2018. ABC paid 1 million to Best in return for purchasing its goodwill. Goodwill at this time was worth1milliontoBestinreturnforpurchasingitsgoodwill.Goodwillatthistimewasworth 900,000 in the market, so Best Corp made a profit of $ 100,000 from this sale.
• Fast-track courier services decided to make developments in its operations for which they opened a new department. Below is a list of transactions they made.

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