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This section includes InterviewSolutions, each offering curated multiple-choice questions to sharpen your Class 11 knowledge and support exam preparation. Choose a topic below to get started.
| 751. |
State which of the following correctly complete the sentences gibve below: Deposit of cash in bank is recorded in |
| Answer» <html><body><p>Debit of <a href="https://interviewquestions.tuteehub.com/tag/bank-13461" style="font-weight:bold;" target="_blank" title="Click to know more about BANK">BANK</a> <a href="https://interviewquestions.tuteehub.com/tag/column-922494" style="font-weight:bold;" target="_blank" title="Click to know more about COLUMN">COLUMN</a> and <a href="https://interviewquestions.tuteehub.com/tag/credit-938523" style="font-weight:bold;" target="_blank" title="Click to know more about CREDIT">CREDIT</a> of <a href="https://interviewquestions.tuteehub.com/tag/cash-910172" style="font-weight:bold;" target="_blank" title="Click to know more about CASH">CASH</a> Column. <br/>Debit of Cash Column and Credit of Bank Column. <br/>Debit of Cash Column and also Credit of Cash Column. <br/>Debit of Bank Column and also Credit of Bank Column. </p>Answer :A</body></html> | |
| 752. |
State which of the following correctly complete the sentences gibve below: Ir Ram has sold goods for cash, the entry will be recorded |
| Answer» <html><body><p>in the <a href="https://interviewquestions.tuteehub.com/tag/cash-910172" style="font-weight:bold;" target="_blank" title="Click to know more about CASH">CASH</a> Book. <br/>in the <a href="https://interviewquestions.tuteehub.com/tag/sales-25569" style="font-weight:bold;" target="_blank" title="Click to know more about SALES">SALES</a> Book. <br/>in the Journal Proper. <br/>None of these </p><a href="https://interviewquestions.tuteehub.com/tag/answer-15557" style="font-weight:bold;" target="_blank" title="Click to know more about ANSWER">ANSWER</a> :A</body></html> | |
| 753. |
State which of the following correctly complete the sentences gibve below: Debit valance of Rs. 10,000 in the Cash column of the Cash Book shows that |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/rs-625947" style="font-weight:bold;" target="_blank" title="Click to know more about RS">RS</a>. 10,000 has been paid out. <br/>Rs. 10,000 is owing. <br/>the <a href="https://interviewquestions.tuteehub.com/tag/amoutn-2415125" style="font-weight:bold;" target="_blank" title="Click to know more about AMOUTN">AMOUTN</a> received <a href="https://interviewquestions.tuteehub.com/tag/exceeds-978356" style="font-weight:bold;" target="_blank" title="Click to know more about EXCEEDS">EXCEEDS</a> the <a href="https://interviewquestions.tuteehub.com/tag/amount-374803" style="font-weight:bold;" target="_blank" title="Click to know more about AMOUNT">AMOUNT</a> paid by Rs. 10,000<br/>Rs. 10,000 has been credited into the bank account. </p>Answer :C</body></html> | |
| 754. |
State which of the following correctly complete the sentences gibve below: Contra entries on the debt side of the Cash Book are posted to |
| Answer» <html><body><p>Debit of <a href="https://interviewquestions.tuteehub.com/tag/bank-13461" style="font-weight:bold;" target="_blank" title="Click to know more about BANK">BANK</a> <a href="https://interviewquestions.tuteehub.com/tag/account-25640" style="font-weight:bold;" target="_blank" title="Click to know more about ACCOUNT">ACCOUNT</a> in the Ledger. <br/>Debit of Cash Account in the Ledger. <br/>Credit of Cash Account in the Laedger. <br/>Not <a href="https://interviewquestions.tuteehub.com/tag/posted-2944562" style="font-weight:bold;" target="_blank" title="Click to know more about POSTED">POSTED</a> in the Ledger. </p><a href="https://interviewquestions.tuteehub.com/tag/answer-15557" style="font-weight:bold;" target="_blank" title="Click to know more about ANSWER">ANSWER</a> :D</body></html> | |
| 755. |
State which of the following correctly complete the sentences gibve below: Balance in the Petty Cash Book is |
| Answer» <html><body><p>an <a href="https://interviewquestions.tuteehub.com/tag/expense-980253" style="font-weight:bold;" target="_blank" title="Click to know more about EXPENSE">EXPENSE</a>. <br/>a profit.<br/>an <a href="https://interviewquestions.tuteehub.com/tag/asset-885901" style="font-weight:bold;" target="_blank" title="Click to know more about ASSET">ASSET</a>. <br/><a href="https://interviewquestions.tuteehub.com/tag/none-580659" style="font-weight:bold;" target="_blank" title="Click to know more about NONE">NONE</a> of these </p><a href="https://interviewquestions.tuteehub.com/tag/answer-15557" style="font-weight:bold;" target="_blank" title="Click to know more about ANSWER">ANSWER</a> :<a href="https://interviewquestions.tuteehub.com/tag/c-7168" style="font-weight:bold;" target="_blank" title="Click to know more about C">C</a></body></html> | |
| 756. |
State which of the following correctly complete the sentences gibve below: Cash Book records |
| Answer» <html><body><p>all <a href="https://interviewquestions.tuteehub.com/tag/cash-910172" style="font-weight:bold;" target="_blank" title="Click to know more about CASH">CASH</a> receipts and <a href="https://interviewquestions.tuteehub.com/tag/payments-1149318" style="font-weight:bold;" target="_blank" title="Click to know more about PAYMENTS">PAYMENTS</a>. <br/>cash and credit <a href="https://interviewquestions.tuteehub.com/tag/sale-1193496" style="font-weight:bold;" target="_blank" title="Click to know more about SALE">SALE</a> of <a href="https://interviewquestions.tuteehub.com/tag/goods-1009877" style="font-weight:bold;" target="_blank" title="Click to know more about GOODS">GOODS</a>. <br/>Both (a)and (b).<br/>None of these </p>Answer :A</body></html> | |
| 757. |
State whether the following statements are True or False with reason: (i) Accounting may be influenced by the personal judgment. (ii) Financial Statements are not comparable. (iii) Accounting Information must be presented in such a way thatonly accounting people understand it. (iv) Accounting Information must be reliable. |
| Answer» <html><body><p></p>Solution :(i) True: Accountant has to exercise his <a href="https://interviewquestions.tuteehub.com/tag/personal-590834" style="font-weight:bold;" target="_blank" title="Click to know more about PERSONAL">PERSONAL</a> judgment in respect of various items such as estimating useful life of an asset to charge depreciation. <br/> (<a href="https://interviewquestions.tuteehub.com/tag/ii-1036832" style="font-weight:bold;" target="_blank" title="Click to know more about II">II</a>) False: Financial Statements of two or more years are comparable or of different firms in the same industry if they adopt the same accounting policies year to year. <br/> (<a href="https://interviewquestions.tuteehub.com/tag/iii-497983" style="font-weight:bold;" target="_blank" title="Click to know more about III">III</a>) False: Accounting Information must be presented in a simple and logical manner that they are understood <a href="https://interviewquestions.tuteehub.com/tag/easily-964537" style="font-weight:bold;" target="_blank" title="Click to know more about EASILY">EASILY</a> by the users. <br/> (iv) True: Accounting Information must be reliable, i.e., the information must be factual and verifiable.</body></html> | |
| 758. |
State whether the following statements are true or false : (i) Accounting is the language of business. (ii) Accounting is helpful in raising loans. (iii) Accounting is not accepteed as evidence in legal matters. (iv) Management of an enterprise is internal user of its accounting information. (v) Accounting makes a recordof qualitative aspectsof business. (vi) Accounting is a service function. (vii) Accounting involves only the recording of business transactions. (viii) Accounts are prepared on the basis of histroical costs. (ix)Only those transactionsare recorded in accounting which can be expressed in terms of money. (x) Book -keeping starts where accounting ends. (xi) Credictors are external users of accounting information. (xiii) A credictor would use an entitie's financial report to determine whether or not credit may be granted to the firm. (xiii) Accounting may be affected to the firm. |
| Answer» | |
| 759. |
State whether the following expenses are capital or revenue in nature: (i) Expenses on whiteashing and painting of a building purchases to make it ready for use. (ii) Rs 10,000 spent on constructing platform for a new maching (iii) Repair expenses of Rs 25,000 incurred for whitewashing of factory building (iv) Insurance premium paid as renewal premium (v) Purchased a new car. |
| Answer» <html><body><p><br/></p><a href="https://interviewquestions.tuteehub.com/tag/answer-15557" style="font-weight:bold;" target="_blank" title="Click to know more about ANSWER">ANSWER</a> :<a href="https://interviewquestions.tuteehub.com/tag/capital-908677" style="font-weight:bold;" target="_blank" title="Click to know more about CAPITAL">CAPITAL</a> <a href="https://interviewquestions.tuteehub.com/tag/expense-980253" style="font-weight:bold;" target="_blank" title="Click to know more about EXPENSE">EXPENSE</a> - (i) ; (<a href="https://interviewquestions.tuteehub.com/tag/ii-1036832" style="font-weight:bold;" target="_blank" title="Click to know more about II">II</a>) ; (v); Revenue Expense - (iii) and (iv)</body></html> | |
| 760. |
State whether the following statements are true or false: Depreciation is a non-cash expense |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :T</body></html> | |
| 761. |
State whether the folling transactions are capital expenditureor revenueexpnditure. Given reasons : (i) ₹5,200 spent onrepairsbeforeusinga second- handcar purchased recentaly. Duringtheyears₹ 3,000 were spent on repairingof various machines.(iii) Freight and cartageonthe new machine ₹1,200, erection charges₹ 600. (iv) A sumof₹ 4,000 was spent on white -washingand painting the new factory. (v) Cost ofannualwhite-washingof building. (vi) Fire insurancepremium was paid on1 st July, 2018 for full one year ₹2,400. Booksareclosed on 31st March every year. (vii) ₹ 20,000 spent towards additionsto the machinery.(viii) ₹ 5,000 were spent in connectionwith the issue of capital and₹ 3,000 wereincurred as legal expenses inraising a debenture loan. |
| Answer» <html><body><p></p>Solution :(i) Itiscapitalexpenditureandwill bedebitedtoCar Account becausetheexpenses havebeen incurred beforetheCar is put to <a href="https://interviewquestions.tuteehub.com/tag/use-1441041" style="font-weight:bold;" target="_blank" title="Click to know more about USE">USE</a>.<br/>(ii) Itisrevenue expenditurebecausetheexpenses have been incurred ontherapairs ofexistingmachines.It isanexpenditure ofroutinenature.<br/> (iii)₹ 1,800 iscapitalexpenditureand willbe <a href="https://interviewquestions.tuteehub.com/tag/debited-2043748" style="font-weight:bold;" target="_blank" title="Click to know more about DEBITED">DEBITED</a> to Machinery Account.<br/>(iv ) Asthefactoryiswhite- washedand <a href="https://interviewquestions.tuteehub.com/tag/painted-7261938" style="font-weight:bold;" target="_blank" title="Click to know more about PAINTED">PAINTED</a> forthefirst time, it shouldbetreated as capitalexpenditureandhencedebited tofactoryaccount.<br/>(v) It isrevenueexpenditurebecauseit is normalandregularexpenditure incurred with aview to maintain thebuilding. Hence itwill be debited toProfit & <a href="https://interviewquestions.tuteehub.com/tag/loss-1079380" style="font-weight:bold;" target="_blank" title="Click to know more about LOSS">LOSS</a> Account.<br/>(vi) Fire insurance premiumamountingto₹ 1,800 (i.e.,from1st July,2018 to31 stMarch,2019) isrevenueexpenditureand₹ 600 (i.e.,from1st April,2019) to30 th June,2019) isaprepaid expenseandwill becharged to next yearsrevenue.<br/>(vii) It iscapitalexpenditure, since it will result in anincrease intheearningcapacity ofthebusiness.<br/> (viii)₹ 8,000 is capitalexpendituresince it isincurred onraisingofcapitalforthebusiness.</body></html> | |
| 762. |
State whether the balances of the following accounts should be placed in the debit or the credit columns of the Trial Balance: {:("1.Furniture","6.Carriage Outwards"),("2.Plant and Machinery","10. Carriage Inwards"),("3.Disount Allowed","11.Sales"),("4.Salary","12.Purchases"),("5.Bank Overdraft","13.Discount Received"),("6.Cash in Hand","14.Interest Received"),("7.Creditors","15.Interest Paid"),("8.Sundry Debtors","16.Bad Debts"):} |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :<img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/TSG_ACC_XI_C13_S01_003_S01.png" width="80%"/></body></html> | |
| 763. |
State whether following expenditures are capital or revenue in nature (i) Second -hand car was purchased for a sum of Rs 1,00,000. A sum of Rs 10,000 was spent on its overhauling (ii) Rs 25,000 paid for the installation of a new machine. (iii) Repairs for Rs 5,000 negligence (iv) Cost of annul taxes paid and the car mentioned above (v) Cost of air-conditioning of the office of the General Manager |
| Answer» <html><body><p></p>Solution :(i) Total <a href="https://interviewquestions.tuteehub.com/tag/expenditure-980222" style="font-weight:bold;" target="_blank" title="Click to know more about EXPENDITURE">EXPENDITURE</a> of Rs 1,10,000 is Capital Expenditure. A sum of Rs 1,00,000 was spent on a capital asset while <a href="https://interviewquestions.tuteehub.com/tag/another-876628" style="font-weight:bold;" target="_blank" title="Click to know more about ANOTHER">ANOTHER</a> Rs 10,000 was spent for making the capital asset ready for use. <br/> (ii) Cost of installing the <a href="https://interviewquestions.tuteehub.com/tag/new-1114486" style="font-weight:bold;" target="_blank" title="Click to know more about NEW">NEW</a> machine is a Capital Expenditure because the amonutspent is up to the point when the asset is ready for use. <br/> (iii) Repair charges are <a href="https://interviewquestions.tuteehub.com/tag/revenue-1188040" style="font-weight:bold;" target="_blank" title="Click to know more about REVENUE">REVENUE</a> Expenditure since they are for maintaining an asset and not for improving the asset. <br/> (iv) Annual taxes and <a href="https://interviewquestions.tuteehub.com/tag/insurance-22907" style="font-weight:bold;" target="_blank" title="Click to know more about INSURANCE">INSURANCE</a> premium paid on the car are Revenue Expenditure because they do not add to the value of the car and their benefit will be exhausted within the year. <br/> (v) It is Capital Expenditure because the benefit of this expenditure will be available for a number of years</body></html> | |
| 764. |
State whether the following accounts will show debit or credit balance : {:("(i)Purchases Accounts","(ii) Cash"),("(iii)Capital","(iv) Salary"),("(v) Interest received","(vi)Sales Return"),("(vii)Machinery","(viii)Drawings"):} |
| Answer» <html><body><p><br/></p><a href="https://interviewquestions.tuteehub.com/tag/answer-15557" style="font-weight:bold;" target="_blank" title="Click to know more about ANSWER">ANSWER</a> :Debit <a href="https://interviewquestions.tuteehub.com/tag/balances-891822" style="font-weight:bold;" target="_blank" title="Click to know more about BALANCES">BALANCES</a> : - (i), (ii), (<a href="https://interviewquestions.tuteehub.com/tag/iv-501699" style="font-weight:bold;" target="_blank" title="Click to know more about IV">IV</a>), (vi), (<a href="https://interviewquestions.tuteehub.com/tag/vii-723638" style="font-weight:bold;" target="_blank" title="Click to know more about VII">VII</a>), (<a href="https://interviewquestions.tuteehub.com/tag/viii-723647" style="font-weight:bold;" target="_blank" title="Click to know more about VIII">VIII</a>).</body></html> | |
| 765. |
Statewhetherthefollowingexpenditureare Capital,Revenue orDeferred Revenue. Givereasons :(i) Furnitureofthe book value of₹ 10,000 were soldoff at₹ 2,500 andnew furnitureofthe value of₹ 6,000were acquired,cartageon purchase ₹ 50. (ii) Property purchased for₹ 20,00,000 and₹ 1,50,000 paid foritsregistrationand legal fee.(iii) Replacementof old machinebya newone.(iv) Damagespaid byatransportcompanyto itspassengers injured in an accident. (v) Erectionof shedfor parkingofvehiclesat a costof₹ 10 Lac. |
| Answer» <html><body><p></p>Solution :In <a href="https://interviewquestions.tuteehub.com/tag/item-1052941" style="font-weight:bold;" target="_blank" title="Click to know more about ITEM">ITEM</a> No.(i) Loss ofsale₹ 7,500 Will beRevenueexpenditureand₹ 6,050 isCapitalexpenditure. Item Nos.(<a href="https://interviewquestions.tuteehub.com/tag/ii-1036832" style="font-weight:bold;" target="_blank" title="Click to know more about II">II</a>) and(iii) are Capitalexpenditure. Item No.(<a href="https://interviewquestions.tuteehub.com/tag/iv-501699" style="font-weight:bold;" target="_blank" title="Click to know more about IV">IV</a>) isRevenueexpenditure. ItemNo. (v) Capital <a href="https://interviewquestions.tuteehub.com/tag/expenditure-980222" style="font-weight:bold;" target="_blank" title="Click to know more about EXPENDITURE">EXPENDITURE</a>.</body></html> | |
| 766. |
State what is the end product of Financial Accounting |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :The end product of Financial Accounting is <a href="https://interviewquestions.tuteehub.com/tag/preparation-1163590" style="font-weight:bold;" target="_blank" title="Click to know more about PREPARATION">PREPARATION</a> of final accounts, i.e., Trading and Profit and <a href="https://interviewquestions.tuteehub.com/tag/loss-1079380" style="font-weight:bold;" target="_blank" title="Click to know more about LOSS">LOSS</a> <a href="https://interviewquestions.tuteehub.com/tag/account-25640" style="font-weight:bold;" target="_blank" title="Click to know more about ACCOUNT">ACCOUNT</a> and Balance Sheet</body></html> | |
| 767. |
State what is the end-product fo Financial Accounting. |
| Answer» <html><body><p></p>Solution :<a href="https://interviewquestions.tuteehub.com/tag/financial-988642" style="font-weight:bold;" target="_blank" title="Click to know more about FINANCIAL">FINANCIAL</a> Statements, i.e., (i) Income <a href="https://interviewquestions.tuteehub.com/tag/statement-16478" style="font-weight:bold;" target="_blank" title="Click to know more about STATEMENT">STATEMENT</a>, (ii) Balance <a href="https://interviewquestions.tuteehub.com/tag/sheet-641829" style="font-weight:bold;" target="_blank" title="Click to know more about SHEET">SHEET</a>.</body></html> | |
| 768. |
State two transactions which may be recoreded in Cash Book but not in Pass Book. |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :Chequesissue but not <a href="https://interviewquestions.tuteehub.com/tag/presented-7264773" style="font-weight:bold;" target="_blank" title="Click to know more about PRESENTED">PRESENTED</a> in the bank for payment <br/> (ii) Cheques deposited into bank not <a href="https://interviewquestions.tuteehub.com/tag/credited-7316860" style="font-weight:bold;" target="_blank" title="Click to know more about CREDITED">CREDITED</a> or collected</body></html> | |
| 769. |
State two transactions which may be recorded in Pass Book But notin Cash Book |
| Answer» <html><body><p></p>Solution :(i) Interest allowed or credited by <a href="https://interviewquestions.tuteehub.com/tag/bank-13461" style="font-weight:bold;" target="_blank" title="Click to know more about BANK">BANK</a> <br/> (<a href="https://interviewquestions.tuteehub.com/tag/ii-1036832" style="font-weight:bold;" target="_blank" title="Click to know more about II">II</a>) Bank <a href="https://interviewquestions.tuteehub.com/tag/charges-914492" style="font-weight:bold;" target="_blank" title="Click to know more about CHARGES">CHARGES</a> and <a href="https://interviewquestions.tuteehub.com/tag/commission-422814" style="font-weight:bold;" target="_blank" title="Click to know more about COMMISSION">COMMISSION</a> charged bythe bank</body></html> | |
| 770. |
State two points of distinction between Capital Expenditure and Revenue Expenditure |
| Answer» <html><body><p></p>Solution :(i) <a href="https://interviewquestions.tuteehub.com/tag/capital-908677" style="font-weight:bold;" target="_blank" title="Click to know more about CAPITAL">CAPITAL</a> Expenditure is incurred for acquisition of <a href="https://interviewquestions.tuteehub.com/tag/fixed-457597" style="font-weight:bold;" target="_blank" title="Click to know more about FIXED">FIXED</a> assets for use in business while Revenue Expenditure is incurred to conduct the business. <br/> (ii) Capital Expenditure <a href="https://interviewquestions.tuteehub.com/tag/increases-1040626" style="font-weight:bold;" target="_blank" title="Click to know more about INCREASES">INCREASES</a> the earning capacity of the business while Revenue Expenditure is incurred for earning profits.</body></html> | |
| 771. |
State two errors committ ed in Cash Book which arecondidered whilepreparing Bank Reconciliation Statement |
| Answer» <html><body><p></p>Solution :(i) Overcasting or <a href="https://interviewquestions.tuteehub.com/tag/undercasting-719974" style="font-weight:bold;" target="_blank" title="Click to know more about UNDERCASTING">UNDERCASTING</a> of bank column of <a href="https://interviewquestions.tuteehub.com/tag/thecash-3191041" style="font-weight:bold;" target="_blank" title="Click to know more about THECASH">THECASH</a> Book <br/> (<a href="https://interviewquestions.tuteehub.com/tag/ii-1036832" style="font-weight:bold;" target="_blank" title="Click to know more about II">II</a>) <a href="https://interviewquestions.tuteehub.com/tag/wrong-1462035" style="font-weight:bold;" target="_blank" title="Click to know more about WRONG">WRONG</a> amount recorded in bank column of Cash Book</body></html> | |
| 772. |
State to which class of accounts does each of the following relate:- {:(I.,"Cash",,V.,"Creditors"),(II.,"Bank",,VI.,"Commission Received"),(III.,"Trade Marks",,VII.,"Accrued Commission"),(IV.,"Debtors",,VIII.,"Commission Received in Advance"):} |
| Answer» <html><body><p></p>Solution :`{:("Personal Accounts",II","<a href="https://interviewquestions.tuteehub.com/tag/iv-501699" style="font-weight:bold;" target="_blank" title="Click to know more about IV">IV</a>","<a href="https://interviewquestions.tuteehub.com/tag/v-722631" style="font-weight:bold;" target="_blank" title="Click to know more about V">V</a>","VII","VIII"."),("Real Accounts",I","<a href="https://interviewquestions.tuteehub.com/tag/iii-497983" style="font-weight:bold;" target="_blank" title="Click to know more about III">III</a>"."),("<a href="https://interviewquestions.tuteehub.com/tag/nominal-571419" style="font-weight:bold;" target="_blank" title="Click to know more about NOMINAL">NOMINAL</a> Accounts",VI"."):}`</body></html> | |
| 773. |
State the title of the accounts affected, type of account and the account to be debited and account to be credited : 1. Bhanu commenced business with cash 1,00,000 2. Purchased goods on credit from Ramesh 40,000 3. Sold goods for cash 30,000 4. Paid salaries 3,000 5. Furniture purchased for cash 10,000 6. Borrowed from bank 50,000 7. Sold goods to Sarita 10,000 8. Cash paid to Ramesh on account 20,000 9. Rent paid 1,500 |
| Answer» <html><body><p></p>Solution :1.Cash account and <a href="https://interviewquestions.tuteehub.com/tag/capital-908677" style="font-weight:bold;" target="_blank" title="Click to know more about CAPITAL">CAPITAL</a> account, Asserts and Liabilities , Assert increase and capital increase. <br/> 2.Purchase account and Ramesh account. Expenses and liabilities , Expenses and Liabilities increases. <br/> 3.Cash account and <a href="https://interviewquestions.tuteehub.com/tag/sales-25569" style="font-weight:bold;" target="_blank" title="Click to know more about SALES">SALES</a> account. Asserts and <a href="https://interviewquestions.tuteehub.com/tag/revenues-25932" style="font-weight:bold;" target="_blank" title="Click to know more about REVENUES">REVENUES</a>, Asserts and Revenues increases <br/> 4.Salaries account and cash account, Expense and Asset , Expenses increases Assets decreases. <br/> 5.Furniture account and Bank, Liability and Asset, <a href="https://interviewquestions.tuteehub.com/tag/liabilites-2156931" style="font-weight:bold;" target="_blank" title="Click to know more about LIABILITES">LIABILITES</a> increases Asset <br/> 6.Loan account and Bank , Liability and Asset, Liabilities increases Asset decreases <br/> 7 Sarita account and Sales account, Asset and <a href="https://interviewquestions.tuteehub.com/tag/revenue-1188040" style="font-weight:bold;" target="_blank" title="Click to know more about REVENUE">REVENUE</a>, Assets decreases Revenue decreases <br/> 8. Ramesh account and Cash, liabilities and Assets, Liabilities decreases Assets increases .<br/> 9.Rent account and Cash account , Expense and Assets, Expenses increases Assets decreases.</body></html> | |
| 774. |
State the Type of Accounts. |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :Accounts of <a href="https://interviewquestions.tuteehub.com/tag/natural-575613" style="font-weight:bold;" target="_blank" title="Click to know more about NATURAL">NATURAL</a> Persons means the accounts of human <a href="https://interviewquestions.tuteehub.com/tag/beings-894710" style="font-weight:bold;" target="_blank" title="Click to know more about BEINGS">BEINGS</a>. For example, Mohans <a href="https://interviewquestions.tuteehub.com/tag/account-25640" style="font-weight:bold;" target="_blank" title="Click to know more about ACCOUNT">ACCOUNT</a>.</body></html> | |
| 775. |
State the nature of account (Personal, Real or Nominal ) and show which will be credited : (i) Rent received (ii) Machinery purchased (iii) Goods purchased (vi) Capital introduced (v) Rent paid (vi) Interest received (vii) Building sold (viii) Discount allowed (ix) Goods sold |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :<img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/TSG_ACC_XI_C06_S01_002_S01.png" width="80%"/></body></html> | |
| 776. |
State the nature of information required by Investors. |
| Answer» <html><body><p></p>Solution :They <a href="https://interviewquestions.tuteehub.com/tag/want-1448756" style="font-weight:bold;" target="_blank" title="Click to know more about WANT">WANT</a> <a href="https://interviewquestions.tuteehub.com/tag/information-1043838" style="font-weight:bold;" target="_blank" title="Click to know more about INFORMATION">INFORMATION</a> <a href="https://interviewquestions.tuteehub.com/tag/regarding-7661537" style="font-weight:bold;" target="_blank" title="Click to know more about REGARDING">REGARDING</a> risks and <a href="https://interviewquestions.tuteehub.com/tag/return-1187910" style="font-weight:bold;" target="_blank" title="Click to know more about RETURN">RETURN</a> on their <a href="https://interviewquestions.tuteehub.com/tag/investments-25466" style="font-weight:bold;" target="_blank" title="Click to know more about INVESTMENTS">INVESTMENTS</a> in the business enterprise.</body></html> | |
| 777. |
State the meaning of incomplete records? |
| Answer» <html><body><p><br/></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :N//A</body></html> | |
| 778. |
State the meaning of: (a) Outstanding expenses (b) Prepaid expenses (c) Income received in advance (d) Accrued income |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :N/a</body></html> | |
| 779. |
State the accounts which are not considered while preparing Trial Balance. |
| Answer» <html><body><p></p>Solution :<a href="https://interviewquestions.tuteehub.com/tag/account-25640" style="font-weight:bold;" target="_blank" title="Click to know more about ACCOUNT">ACCOUNT</a> which do not <a href="https://interviewquestions.tuteehub.com/tag/show-642916" style="font-weight:bold;" target="_blank" title="Click to know more about SHOW">SHOW</a> balance are not considered while preparing the Trial Balance by Balance Method.</body></html> | |
| 780. |
State reasons for the following: (i) The balance in the cash column of the Cash Book is always a debit balance waereas than in the bank column can sometimes be credit. (ii) Contra entries in the Two-Column Cash Bank are not posted into the Ledger. (iii) The Cash Account and the Bank Account are not posted in the Ledger. |
| Answer» | |
| 781. |
State one limitation of historicalcost. |
| Answer» <html><body><p></p>Solution :During periods of inflation, the <a href="https://interviewquestions.tuteehub.com/tag/figure-987693" style="font-weight:bold;" target="_blank" title="Click to know more about FIGURE">FIGURE</a> of net profit will be <a href="https://interviewquestions.tuteehub.com/tag/distorted-2587934" style="font-weight:bold;" target="_blank" title="Click to know more about DISTORTED">DISTORTED</a> because depreciation <a href="https://interviewquestions.tuteehub.com/tag/based-389387" style="font-weight:bold;" target="_blank" title="Click to know more about BASED">BASED</a> on historical cost will be charged against revenues at <a href="https://interviewquestions.tuteehub.com/tag/current-940804" style="font-weight:bold;" target="_blank" title="Click to know more about CURRENT">CURRENT</a> prices.</body></html> | |
| 782. |
State one importance of Trial Balance. |
| Answer» <html><body><p></p>Solution :It facilitates the preparation of <a href="https://interviewquestions.tuteehub.com/tag/final-461168" style="font-weight:bold;" target="_blank" title="Click to know more about FINAL">FINAL</a> accounts by <a href="https://interviewquestions.tuteehub.com/tag/making-1085093" style="font-weight:bold;" target="_blank" title="Click to know more about MAKING">MAKING</a> <a href="https://interviewquestions.tuteehub.com/tag/available-888895" style="font-weight:bold;" target="_blank" title="Click to know more about AVAILABLE">AVAILABLE</a> the <a href="https://interviewquestions.tuteehub.com/tag/balances-891822" style="font-weight:bold;" target="_blank" title="Click to know more about BALANCES">BALANCES</a> of all the accounts at <a href="https://interviewquestions.tuteehub.com/tag/one-585732" style="font-weight:bold;" target="_blank" title="Click to know more about ONE">ONE</a> place.</body></html> | |
| 783. |
State different kinds of transactions that increase and decrease capital. |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :<a href="https://interviewquestions.tuteehub.com/tag/capital-908677" style="font-weight:bold;" target="_blank" title="Click to know more about CAPITAL">CAPITAL</a> increases by <a href="https://interviewquestions.tuteehub.com/tag/net-5194" style="font-weight:bold;" target="_blank" title="Click to know more about NET">NET</a> profit and fresh capital <a href="https://interviewquestions.tuteehub.com/tag/introduced-2121226" style="font-weight:bold;" target="_blank" title="Click to know more about INTRODUCED">INTRODUCED</a>, decreases by <a href="https://interviewquestions.tuteehub.com/tag/drawings-959513" style="font-weight:bold;" target="_blank" title="Click to know more about DRAWINGS">DRAWINGS</a> and net loss</body></html> | |
| 784. |
State four reasons when Cash Book balance will be lower than balance as per Bank Statement of Bank Pass Book . |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :(i) Cheques issued but not presented for payment.(<a href="https://interviewquestions.tuteehub.com/tag/ii-1036832" style="font-weight:bold;" target="_blank" title="Click to know more about II">II</a>) Cheque deposited but not recorded in Cash Book. (iii) Bank charges or interest <a href="https://interviewquestions.tuteehub.com/tag/charged-7263949" style="font-weight:bold;" target="_blank" title="Click to know more about CHARGED">CHARGED</a> reversed by the bank but not recorded in Cash Book. (<a href="https://interviewquestions.tuteehub.com/tag/iv-501699" style="font-weight:bold;" target="_blank" title="Click to know more about IV">IV</a>) Wrong <a href="https://interviewquestions.tuteehub.com/tag/credit-938523" style="font-weight:bold;" target="_blank" title="Click to know more about CREDIT">CREDIT</a> given by bank</body></html> | |
| 785. |
State anytwo reasons of difference between Cash Book and Bank Pass Book balances. |
| Answer» <html><body><p></p>Solution :(i) Cheques <a href="https://interviewquestions.tuteehub.com/tag/deposited-948649" style="font-weight:bold;" target="_blank" title="Click to know more about DEPOSITED">DEPOSITED</a> but not <a href="https://interviewquestions.tuteehub.com/tag/credited-7316860" style="font-weight:bold;" target="_blank" title="Click to know more about CREDITED">CREDITED</a>. <br/> (<a href="https://interviewquestions.tuteehub.com/tag/ii-1036832" style="font-weight:bold;" target="_blank" title="Click to know more about II">II</a>) Cheques <a href="https://interviewquestions.tuteehub.com/tag/issued-2752319" style="font-weight:bold;" target="_blank" title="Click to know more about ISSUED">ISSUED</a> but not presented for <a href="https://interviewquestions.tuteehub.com/tag/payment-1149239" style="font-weight:bold;" target="_blank" title="Click to know more about PAYMENT">PAYMENT</a>.</body></html> | |
| 786. |
Stateany six of accounting information Why do they need accounting information ? |
| Answer» <html><body><p></p>Solution :(i) The owners/shareholders : use them to see if they are getting satisfactory returns on their investment and also to assess the financial <a href="https://interviewquestions.tuteehub.com/tag/health-1016582" style="font-weight:bold;" target="_blank" title="Click to know more about HEALTH">HEALTH</a> of their enterprise. <br/> (ii) The mangers/directors : use them to ascertain the strengths and weaknesses of the enterprise. <br/> The credictors use them to know <a href="https://interviewquestions.tuteehub.com/tag/whether-7262895" style="font-weight:bold;" target="_blank" title="Click to know more about WHETHER">WHETHER</a> the firm will be able to pay the interest regularly and will be able to pay their debts as they become due. <br/> (iv) The prospective investors : use them to assess whether or not to invest their money in this firm. <br/> (v) Employes : They need accounting information to claim increase in <a href="https://interviewquestions.tuteehub.com/tag/wages-1448569" style="font-weight:bold;" target="_blank" title="Click to know more about WAGES">WAGES</a>, bonus and other benefits. <br/> (vi) The government agencies : use them for the <a href="https://interviewquestions.tuteehub.com/tag/payment-1149239" style="font-weight:bold;" target="_blank" title="Click to know more about PAYMENT">PAYMENT</a> of <a href="https://interviewquestions.tuteehub.com/tag/various-1443317" style="font-weight:bold;" target="_blank" title="Click to know more about VARIOUS">VARIOUS</a> taxes such as Goods and Service Tax (GST) , Income Tax etc.</body></html> | |
| 787. |
State any one advantage of maintaining the Petty Cash Book. |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :Is <a href="https://interviewquestions.tuteehub.com/tag/seves-2266995" style="font-weight:bold;" target="_blank" title="Click to know more about SEVES">SEVES</a> the <a href="https://interviewquestions.tuteehub.com/tag/time-19467" style="font-weight:bold;" target="_blank" title="Click to know more about TIME">TIME</a> of <a href="https://interviewquestions.tuteehub.com/tag/chief-417885" style="font-weight:bold;" target="_blank" title="Click to know more about CHIEF">CHIEF</a> <a href="https://interviewquestions.tuteehub.com/tag/cashier-910317" style="font-weight:bold;" target="_blank" title="Click to know more about CASHIER">CASHIER</a>.</body></html> | |
| 788. |
State any four reasonswhen the Cash Book balance will be higherthan the Pass Bookbalance . |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> : CashBook balance will be <a href="https://interviewquestions.tuteehub.com/tag/higher-1022060" style="font-weight:bold;" target="_blank" title="Click to know more about HIGHER">HIGHER</a> than the Pass Book balance in the following situations :(i) Cheques deposited but not collected by the <a href="https://interviewquestions.tuteehub.com/tag/bank-13461" style="font-weight:bold;" target="_blank" title="Click to know more about BANK">BANK</a>.(ii) Cheque <a href="https://interviewquestions.tuteehub.com/tag/recorded-2240050" style="font-weight:bold;" target="_blank" title="Click to know more about RECORDED">RECORDED</a> in the Cash Book but not deposited in Bank . (iii) Interest <a href="https://interviewquestions.tuteehub.com/tag/debited-2043748" style="font-weight:bold;" target="_blank" title="Click to know more about DEBITED">DEBITED</a> by bank but not recorded in the Cash Book.(iv) Bank charges debited by bank but bnot recorded in the Cash Book.</body></html> | |
| 789. |
Srinvas did not maintain the Booksof Accounts properly. From the following data, prepare final accounts for the year ended 31st March, 2019: |{:(,"Rs."),("Opening Stock","1,00,000"),("Creditors on April, 2018"," 40,000"),("Cash in Hand on 31st March, 2018"," 60,000"),("Furniture on 1st April, 2018"," 20,000"),("Salaries"," 68,000"),("Rent"," 24,000"),("Other expenses"," 48,000"),("Cash Sales"," 80,000"),("Credit sales","8,00,000"):}||{:(,"Rs."),("Cash received from debtors","6,40,000"),("Cash paid to creditors","3,60,000"),("Cash purchases"," 40,000"),("Credit purchases","6,00,000"),("Closing stock"," 80,000"),("Debtors on 31st March, 2019","2,40,000"),("Debtos on 1st April, 2018","1,00,000"),("Drawings","1,00,000"),("Discount allowed to debtors"," 20,000"):}| |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :<img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/TSG_ACC_XI_C20_S01_023_S01.png" width="80%"/> <br/> <img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/TSG_ACC_XI_C20_S01_022_S02.png" width="80%"/> <br/> <img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/TSG_ACC_XI_C20_S01_022_S03.png" width="80%"/> <br/> <img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/TSG_ACC_XI_C20_S01_022_S04.png" width="80%"/></body></html> | |
| 790. |
Solve illustration 07, if the firm maintains furniture disposal account prepared along with furniture account and provision for depreciation on furniture account. |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :<img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/NCERT_ACC_XI_P1_C07_S01_008_S01.png" width="80%"/> <br/> <a href="https://interviewquestions.tuteehub.com/tag/depreciation-948712" style="font-weight:bold;" target="_blank" title="Click to know more about DEPRECIATION">DEPRECIATION</a> , <a href="https://interviewquestions.tuteehub.com/tag/provisions-607852" style="font-weight:bold;" target="_blank" title="Click to know more about PROVISIONS">PROVISIONS</a> and <a href="https://interviewquestions.tuteehub.com/tag/reserves-1186138" style="font-weight:bold;" target="_blank" title="Click to know more about RESERVES">RESERVES</a> <br/> <img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/NCERT_ACC_XI_P1_C07_S01_008_S02.png" width="80%"/></body></html> | |
| 791. |
Sold goods to Ram-Ram's Account will be _______ |
| Answer» <html><body><p><br/></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :<a href="https://interviewquestions.tuteehub.com/tag/debited-2043748" style="font-weight:bold;" target="_blank" title="Click to know more about DEBITED">DEBITED</a></body></html> | |
| 792. |
Some of the transactions may have only one account. |
| Answer» <html><body><p><br/></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> : <a href="https://interviewquestions.tuteehub.com/tag/false-459184" style="font-weight:bold;" target="_blank" title="Click to know more about FALSE">FALSE</a></body></html> | |
| 793. |
Single Entry System can be adopted by |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/small-1212368" style="font-weight:bold;" target="_blank" title="Click to know more about SMALL">SMALL</a> <a href="https://interviewquestions.tuteehub.com/tag/firms-989820" style="font-weight:bold;" target="_blank" title="Click to know more about FIRMS">FIRMS</a>.<br/>Joint <a href="https://interviewquestions.tuteehub.com/tag/stock-1227804" style="font-weight:bold;" target="_blank" title="Click to know more about STOCK">STOCK</a> Companies.<br/>Co-operative Societies.<br/>None of these.</p>Solution :Small firms.</body></html> | |
| 794. |
Shruti maintains her books of account from Incomplete Records. Her books provide the following information: |{:(,,"1st April, 2015(Rs)","31st March,2016(Rs)"),("Cash ",..................................................................,"1,200","1,600"),("Bills Receivable",..................................................................,"...","2,400"),("Debtors",..................................................................,"16,800","27,200"),("Stock",..................................................................,"22,400","24,400"),("Investments",..................................................................,"...","8,000"),("Furniture",..................................................................,"7,500","8,000"),("Creditors",..................................................................,"14,900","11600"):}| She withdrew Rs. 500 per month for personal expenses. She sold her Investments of Rs. 16,000 at 5% premium and introduced the amount into business. You are required to prepare a Statement of Profit of Loss for the year ending 31st March, 2016. |
| Answer» <html><body><p><br/></p>Answer :Capital as at 1st April, <a href="https://interviewquestions.tuteehub.com/tag/2015-291056" style="font-weight:bold;" target="_blank" title="Click to know more about 2015">2015</a> - <a href="https://interviewquestions.tuteehub.com/tag/rs-625947" style="font-weight:bold;" target="_blank" title="Click to know more about RS">RS</a>. 33,000; Capital as at 31st <a href="https://interviewquestions.tuteehub.com/tag/march-554922" style="font-weight:bold;" target="_blank" title="Click to know more about MARCH">MARCH</a>, <a href="https://interviewquestions.tuteehub.com/tag/2016-291244" style="font-weight:bold;" target="_blank" title="Click to know more about 2016">2016</a>- Rs. 60,000; <a href="https://interviewquestions.tuteehub.com/tag/profit-1168589" style="font-weight:bold;" target="_blank" title="Click to know more about PROFIT">PROFIT</a> - Rs. 16,200.</body></html> | |
| 795. |
Shown the accounting equationonthe followimgtransacitions: (a) Ram started business with ₹25,000. (b) Purchases goods from Shyam ₹10,000. (c) Sold goods to Sohancosting₹1,500 for ₹1,800. |
| Answer» <html><body><p><br/></p>Answer :<a href="https://interviewquestions.tuteehub.com/tag/capital-908677" style="font-weight:bold;" target="_blank" title="Click to know more about CAPITAL">CAPITAL</a> : ₹25,300 + <a href="https://interviewquestions.tuteehub.com/tag/liabilites-2156931" style="font-weight:bold;" target="_blank" title="Click to know more about LIABILITES">LIABILITES</a> : <a href="https://interviewquestions.tuteehub.com/tag/creditors-938665" style="font-weight:bold;" target="_blank" title="Click to know more about CREDITORS">CREDITORS</a> ₹ 10,000 = <a href="https://interviewquestions.tuteehub.com/tag/assets-885948" style="font-weight:bold;" target="_blank" title="Click to know more about ASSETS">ASSETS</a> : Cash ₹ 25,000 + <a href="https://interviewquestions.tuteehub.com/tag/debtors-435558" style="font-weight:bold;" target="_blank" title="Click to know more about DEBTORS">DEBTORS</a> ₹ 1,800 + Stock₹ 8,500.</body></html> | |
| 796. |
Shyam purchased a building for ₹20 lakh. However, due to boom in the property market, the current market value of the building is ₹28 lakh. State the value at which building should be recorded in the books of accounts. Also, give reasons for the same. |
| Answer» <html><body><p></p>Solution :Building will be <a href="https://interviewquestions.tuteehub.com/tag/shown-1206565" style="font-weight:bold;" target="_blank" title="Click to know more about SHOWN">SHOWN</a> in the books at ₹ 17 Lakh. <br/> This is because of <a href="https://interviewquestions.tuteehub.com/tag/historical-487197" style="font-weight:bold;" target="_blank" title="Click to know more about HISTORICAL">HISTORICAL</a> Cost Concept according to which assets are shown in the books at cost less <a href="https://interviewquestions.tuteehub.com/tag/depreciation-948712" style="font-weight:bold;" target="_blank" title="Click to know more about DEPRECIATION">DEPRECIATION</a>.</body></html> | |
| 797. |
Shown the accounting equationonthe followimgtransacitions: (a) Ram started business with ₹25,000. (b) Purchases goods from Shyam ₹10,000. (c) Sold goods to Sohancosting₹1,500 for ₹1,800. |
| Answer» <html><body><p><br/></p><a href="https://interviewquestions.tuteehub.com/tag/answer-15557" style="font-weight:bold;" target="_blank" title="Click to know more about ANSWER">ANSWER</a> :Capital : ₹25,300 + <a href="https://interviewquestions.tuteehub.com/tag/liabilites-2156931" style="font-weight:bold;" target="_blank" title="Click to know more about LIABILITES">LIABILITES</a> : Creditors ₹ 10,000 = <a href="https://interviewquestions.tuteehub.com/tag/assets-885948" style="font-weight:bold;" target="_blank" title="Click to know more about ASSETS">ASSETS</a> : Cash ₹ 25,000 + <a href="https://interviewquestions.tuteehub.com/tag/debtors-435558" style="font-weight:bold;" target="_blank" title="Click to know more about DEBTORS">DEBTORS</a> ₹ 1,800 + Stock₹ 8,500.</body></html> | |
| 798. |
Shownan Accounting Equationon thebasis of thefollowingtransacitons |
| Answer» <html><body><p><br/></p><a href="https://interviewquestions.tuteehub.com/tag/answer-15557" style="font-weight:bold;" target="_blank" title="Click to know more about ANSWER">ANSWER</a> :<a href="https://interviewquestions.tuteehub.com/tag/assets-885948" style="font-weight:bold;" target="_blank" title="Click to know more about ASSETS">ASSETS</a> : ₹2,29,600 = <a href="https://interviewquestions.tuteehub.com/tag/liabilities-1072887" style="font-weight:bold;" target="_blank" title="Click to know more about LIABILITIES">LIABILITIES</a>: ₹ 51,000+ <a href="https://interviewquestions.tuteehub.com/tag/capital-908677" style="font-weight:bold;" target="_blank" title="Click to know more about CAPITAL">CAPITAL</a> : ₹1,78,000.</body></html> | |
| 799. |
Show the treatment of prepaid expenses depreciation, closing stock at the time of preparation of final accounts when: (a) When given inside the trial balance? (b) When given outside the trial balance? |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :N/a</body></html> | |
| 800. |
Shownan Accounting Equationon thebasis of thefollowingtransacitons |
| Answer» <html><body><p><br/></p><a href="https://interviewquestions.tuteehub.com/tag/answer-15557" style="font-weight:bold;" target="_blank" title="Click to know more about ANSWER">ANSWER</a> :<a href="https://interviewquestions.tuteehub.com/tag/assets-885948" style="font-weight:bold;" target="_blank" title="Click to know more about ASSETS">ASSETS</a> : ₹2,29,600 = <a href="https://interviewquestions.tuteehub.com/tag/liabilities-1072887" style="font-weight:bold;" target="_blank" title="Click to know more about LIABILITIES">LIABILITIES</a>: ₹ 51,000+ <a href="https://interviewquestions.tuteehub.com/tag/capital-908677" style="font-weight:bold;" target="_blank" title="Click to know more about CAPITAL">CAPITAL</a> : ₹1,78,000.</body></html> | |