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This section includes InterviewSolutions, each offering curated multiple-choice questions to sharpen your knowledge and support exam preparation. Choose a topic below to get started.
| 5551. |
Need of bills of exchange |
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Answer» Answer: Hello My DEAR friends ❤ ❤ Bill of exchange is issued by the CREDITOR of to the defective in the director of money for goods or services the most important PART of bill of exchange is that it NEED to be ACCEPTED by debtor before we can call it valid |
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| 5552. |
Purchase goods from mohan 20,000, at 10% trade discount and 5% cash discount and full amount paid immediate |
| Answer» 15000 WOULD be the PRICE | |
| 5553. |
Journal entries of m/s bhanu traders |
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Answer» Answer: Hello My dear FRIEND ❤ 1. Commenced BUSINESS with cash 2. Opened bank ACCOUNTS with PNB 3. BOUGHT goods for cash from m/s rupa traders |
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| 5554. |
Provide 2000 for outstanding interest on bank overdraft |
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Answer» to BANK o/d |
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| 5555. |
Give any three examples of revenues. |
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Answer» Examples of revenue accounts include: Sales, Service REVENUES, Fees Earned, INTEREST Revenue, Interest Income. Revenue accounts are CREDITED when services are performed/billed and therefore will usually have credit balances. |
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| 5556. |
Why is mathematics the queen if all sciences essay |
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Answer» Explanation: |
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| 5557. |
purchased from kashyap furnisher ,kanpur,invoice no 818 10 chairs @300 each ,4 tables @ 200 each ,less trade discount @10% |
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Answer» 3420 RUPEES is the answer. |
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| 5558. |
Sold to bee & co. goods worth 5000 and a cheque received for the due (journal entry) |
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Answer» CASH account will be credited and SELL account will be debited. |
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| 5559. |
What will be the journal entry for paid freight and wages for rupees 2,000 |
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Answer» FREIGHT and WAGES a/c DR 2000 _______To CASH a/c 2000 hope it HELPS.. |
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| 5561. |
What is the journal entry for paid electricity charges Rs 1000 |
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Answer» Electricity CHARGES a/c Dr 1000 |
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| 5563. |
Paid electricity charges Rs 1000 |
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Answer» Answer: ASK your question correctly Explanation: |
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| 5564. |
Fax charges shown under which head |
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Answer» MISCELLANEOUS Expenses. hope it HELPS.. |
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| 5565. |
Sundry expenses paid by cash 600 and paid by cheque 1000 |
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Answer» SUNDRY expenses PAID by cash 600 and paid by cheque 1000 So what do I do now????? |
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| 5566. |
A and M are partners sharing profits and losses in the ratio of 3:2. G is admitted for 1/4th share. Therefore, N enters the partnership for 20 paise in a rupee. Compute new profit sharing ratio. |
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Answer» <P>Answer: 9:6:5:5 Explanation: Let the combined SHARE of firm be 1,so after G's ADMISSION profit share left will be 1-1/4=3/4.A's share=3/4*3/5=9/20 M's share=3/4*2/5=6/20 Share for A,M and G=9:6:5 N's admission takes place for a share of 20 p in a rupee i.e 20/100=1/5 Share left for A,M and G=1-1/5=4/5 A's share=4/5*9/20=9/25 M's share=4/5*6/20=6/25 G's share=4/5*5/20=5/25 N's share=1/5*5/5=5/25 Thus new profit sharing will be 9:6:5:5 |
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| 5569. |
Furniture value RS 30000 15% depreciation |
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Answer» To DEP on furniture 4500 |
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| 5571. |
A,B and C are partners sharing profits and losses in the ratio of 3:2:1. b retired from the firm.partners A and C decided to take his share in 3:1 ratio.What is the new ratio of the partners A and C? |
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Answer» Answer: 3 : 1 I have ATTACHED the explanation as IMAGE. PLEASE rate my answer |
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| 5572. |
Pass necessary journal entries to rectify the following errors office furniture purchased for 1450 debited to purchase account |
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Answer» to PURCHASE a/c 1450 |
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| 5574. |
Pls helpgoods costing rupees 5000 withdrawn for personal use such goods were purchased by paying cgst and sgst @ 6% |
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Answer» Answer: To Purchase 5,000 To CGST 300 To SGST 300 Explanation: Here, Purchase = 5,000 CGST = 6% of 5,000 = 300 SGST = 6% of 5,000 = 300 HOPE IT HELPS |
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| 5575. |
What its accounting?define its objectives. |
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Answer» Answer: Accounting is the systematic and COMPREHENSIVE recording of financial transactions pertaining to a business. Accounting also refers to the process of summarizing, ANALYZING and reporting these transactions to oversight AGENCIES, regulators and tax collection entities, Explanation: The main objective of accounting is to keep a systematic record of financial transactions which helps the users to UNDERSTAND the day to day transactions in a systematic manner so as to GAIN knowledge about overall business. |
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| 5576. |
Journal entrygoods purchased from Mayank Arora and he allowed us 10% trade discount 7000 rupees cash paid to mayank Arora in full satisfaction 6000 |
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Answer» Answer: purchase ACCOUNT dr 6000 |
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| 5577. |
(A) A, B & C are partners in a firm sharing profits in the rao of 4:3: 1. A reres and his share is taken up by B and C equally. Find the new profit sharing rao and the gaining rao. (B) The good will of the firm is valued at Rs. 16,000. No goodwill account appears in the books. Pass necessary journal entry for recording the goodwill in the above menoned case. |
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Answer» sare kar ke liye BHI hai good night my name is the one that I am not the INTENDED solely return email or CALL the other side EFFECTS on the way to do it for the delay I had a chance |
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| 5578. |
the cheques had been issued for 60000,of which cheques worth 10000 only had been encashed upto 31st march,2017.please solve this BRS. |
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Answer» Answer: for ANOTHER 50000 MAY be in CHEQUE or in the FORM of BILLS of exchange |
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| 5579. |
Journal entry goods purchased from Sajid 30,000 |
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Answer» To SAJID A/c 30,000 |
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| 5580. |
Journal entry furniture purchased 7000 |
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Answer» Answer: Double-entry bookkeeping, in accounting, is a system of bookkeeping so named because every entry to an account REQUIRES a corresponding and opposite entry to a DIFFERENT account. This lesson will cover how to create journal entries from business transactions. Journal entries are the way we capture the ACTIVITY of our business. When a business transaction requires a journal entry, we must FOLLOW these rules: The entry must have at LEAST 2 accounts with 1 DEBIT amount and at least 1 CREDIT amount. The DEBITS are listed first and then the CREDITS. The DEBIT amounts will always equal the CREDIT amounts. For another example, let’s look at the transaction analysis we did in the previous chapter for Metro Courier (click Transaction analysis): 1. The owner invested $30,000 cash in the corporation. We analyzed this transaction by increasing both cash (an asset) and common stock (an just equity) for $30,000. We learned you increase an asset with a DEBIT and increase an equity with a CREDIT. . Purchased $5,500 of equipment with cash. We analyzed this transaction as increasing the asset Equipment and decreasing the asset Cash. To increase an asset, we debit and to decrease an asset, use credit. . Purchased a new truck for $8,500 cash. We analyzed this transaction as increasing the asset Truck and decreasing the asset Cash. To increase an asset, we debit and to decrease an asset, use credit. |
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| 5581. |
Please answer me 3rd question |
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Answer» Explanation: HI TONY thank God I have a firm believer to the FACEBOOK group for a wrong and TRAMPOLINE |
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| 5584. |
What is the difference between profit maximization and wealth maximization. |
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Answer» FIRST profit maximization it is main objective is to earn large amount of profit it omphasizes short term second wealth maximization it is main objective is to ACHIEVE HIGHEST market value of common stock it omphasizes long term it's your answer , |
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| 5585. |
on comparing the cash book with Passbook of Nirma Naman it is found that on March 31st 2017 bank balance of rupees 40000 960 shot by the cash book differs from the bank balance with regards to the following a bank charges rupees hundred on March 31st 2017 are not entered in the cash book be on March 21 2017 a debtor paid rupees 2,000 into the company's Bank in settlement of his account but no entry was made in the cash book of the company in respect of this |
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Answer» Answer: n. nbbbnnn of w of your WEBSITE is for your help with this is the intended RECIPIENT you must be the first to REVIEW my attached CV and MAKE |
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| 5586. |
Depriciate machinery worth 50,[email protected]%p.a. |
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Answer» Answer: 50,000*12%= 6,000/p.a Explanation: |
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| 5587. |
Circumestences of retirement of a partner |
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Answer» Bankrupt Unlimited LIABILITIES |
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| 5588. |
Cheques paid into bank but not yetcollected by the bank Make a brs |
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| 5590. |
Allowed interest on capital 10% per annum for one month journal entries |
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Answer» INTEREST on CAPITAL a/c DR ___To partner's capital a/c (being interest on capital allowed) HOPE it helps.. |
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| 5591. |
TOPIC - ACCOUNTING EQUATION1. Show the accounting equation on the basis of the following transactions:2) Shri Ganesh commenced business with cash Rs.35.000. goods Rs.8.000 and furnitureRs.7.000o Bouent furniture from M/s Mohan Furnitures on credit for Rs.3,000.e) Purchased goods from Sohan for cash Rs.35,000.d) Sold goods to Shyam for cash Rs.40,000{costing Rs.30,000).e) Bought goods from Ramesh Rs.30,000.Sold goods to Shyam costing Rs.30,000 for Rs.50,000.g) Received Rs.49,500 from Shyam in full settlement.) Paid Rs. 29.700 to Ramesh in full settlement.Paid half the amount owed to M/s Mohan.D Withdrew Rs. 1,000 for personal use.R) Withdrew goods for personal use(cost Rs.500, sale price Rs.600).0 Purchased household goods for Rs. 15,000 giving Rs.5,000 in cash and the balancethrough a loan.m) Paid cash Rs.500 for loan and Rs.300 for interest.n) Goods destroyed by fire (cost Rs.500, sale price Rs.600)o) Paid salary Rs.500 and salary outstanding Rs.100.p) Paid rent in advance Rs.2,000.q) Accrued interest Rs 500.r)Commission received in advance Rs 1,000. s) charged depriciation of rs 400 on furniture |
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| 5592. |
purchased household goods for rs15000 giving rs 5000 in cash and the balance through a loan in accounting equation |
| Answer» | |
| 5594. |
Commenced bussiness with 200000of which 50000 were borrowed from kumar journal entry |
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Answer» Answer: cash ac dr 200000 to capital ac 150000 to LOAN from kumar ac 50000 Explanation: SINCE both capital and loan constitutes a CREDIT balance, they are entered in credit. And since loan of rs.50000 is CREDITED in KUMARS loan ac,the remaining amount of rs.150000 is credited in the capital ac of the proprietor |
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| 5595. |
mansi commenced her business with an investment of rs 12,50,000 on 1st April 2018.on 1st May 2018 she took a loan of 5,00,000 as Her personal debt and invested rs 2,00,000 into the business. he acquired a loan rs 3,00,000 from bank on 31st March 2019 her liabilities stand as: trade payables rs 40,000 and suppliers rs 1,20,000 and payable wages rs 45,000 |
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| 5596. |
Bought good from thomas journal entry |
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Answer» Purchase account Dr. To Thomas There is name given in transaction it means it is CREDIT hence party PERSONAL account is credited |
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| 5597. |
11. Consider the following transactions of Mr. Bikram Barala. Started business with cash deposit in the bank Rs. 3,50,000b. Purchased goods from Ranjit for Rs. 50,000 and made a down payment of Rs. 30,000c. Sold goods on account costing Rs. 25,000 for Rs. 20,000d. Goods costing Rs. 10,000 lost by fire and insurance company admitted the claim for only Rs. 8,000Required: Accounting equation(Ans: Assets = Rs. 3,63,000; Capital = Rs. 3,43,000; Liabilities = Rs.20,000 |
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| 5598. |
Goods returned from Mahesh rs 1000 we're posted as rs 3000.1) Isme Excess debit hai ya excess credit hai? 2) kaise pahchante hai ki kisme jyada debit hai and oisme jyada credit hai. ? 3) yaha par credit and debit ka meaning kya hai. Plz ans |
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Answer» Our PREVIOUS entry was: SALES Return A/C Dr. 3,000 To Mahesh A/C. 3,000 Now ,what would be the entry: Sales Return A/C Dr. 1,000 To Mahesh A/C. 1,000 Now,the RECTIFIED entry will be: Mahesh A/C Dr. 2,000 To sales Return A/C. 2,000 Thnq.#$. Hope you understand the concept WELL. |
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| 5599. |
Why subscription at the end is added |
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Answer» ?????????????????????? |
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| 5600. |
2015Jan 1Jan, 5DRIDStarted business with cash..Purchases goods for cash................1,00,00010,000 |
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Answer» c Explanation: 100000 10000L |
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