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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.
| 4501. |
X, Y and Z were partners in a firm sharing profits in the ratio of 3 : 2 : 1. Z retired and the new profitsharing ratio between X and Y was 1 : 2. On Z’s retirement the goodwill of the firm was valued at ` 30,000. Pass necessary journal entry for the treatment of goodwill on Z’s retirement |
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Answer» Explanation: X,H and z were partners in a FIRM sharing profits in the RADIO of 3:2:1. Z retired and the NEW profit sharing radio betw... brainly.in/question/31000562?utm_source=android&utm_medium=share&utm_campaign=question |
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| 4502. |
It is said cost accounting is a system of forsight and not a post mortem examination it turn losses in to profits speed up activities and elements waste. discuss this element |
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Answer» hshywfwhqiaapakabbsbajsbahahsahajqjsj Explanation: gsvbsbsbsnajjagwgwvwvsvvsbsbsbjskskanbsbs sbzbsbzbzhss |
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| 4504. |
What is single entry and its defects |
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Answer» Answer: Disadvantages or Defects of Single Entry SYSTEM Arithmetical accuracy cannot be checked as trial balance cannot be drawn under single entry system. NET Profit/Net Loss cannot be ascertained as nominal ACCOUNTS are not maintained. THEREFORE, TRADING and profit and loss account can not be prepared. |
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| 4505. |
Prepare Trading Account for the year ended 31st March 2020 from the following balances: 2 Amount (Rs.) Amount (Rs.) Stock as on 01.04.2019 1,00,000 Purchases 10,00,000 Wages 50,000 Carriage Inwards 10,000 Sales 15,50,000 Returns Inward 50,000 Return Outward 80,000 Freight 5,000 Closing Stock as on 31.03.2020 was valued at Rs. 2,00,000. |
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Answer» Answer: The trading ACCOUNT is in attachment ; GO through it.. Gross Profit = 6,15,000.Some important Notes :
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| 4506. |
Grace days renewal of a bill |
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Answer» FOLLOW ME Explanation: You Change Your Life By Changing Your Heart......!!! · Life Is NEVER Easy For Those Who DREAM......!!! |
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| 4508. |
Any balance in the profit and loss account of the purchasing firm will be transferred to a) New firms accountb) Capital account of partnersc) Profit and loss adjustment account d) None of the above |
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Answer» Explanation: |
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| 4509. |
Emm Ess Ltd. issued 10,000, 10% Debentures of 100 each at a discount of 10% on 1st April, 2017. Thedebentures were redeemable after 5 years at a premium of 10%. The amount was payable along withapplication. Interest was payable half-yearly. Applications were received for 15,000 debentures.Allotment was made to applicants for 10,000 Debentures and rest were sent letters of regret. Tax isdeducted at source (TDS) @ 10%.10%. |
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Answer» Answer: I can't understand that question Explanation: |
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| 4510. |
) Any balance in the profit and loss account of the purchasing firm will be transferred to |
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Answer» mm Explanation: |
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| 4512. |
Cheque issued on saving account has been shown as drawn on current account |
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Answer» Answer: Hope it HELPS you. Explanation: Please FOLLOW me till now And mark me in the BRAIN list till now please FAST............. |
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| 4513. |
Pass the necessary Journal entries in the books of Iron Merchfrom the following transactions :(1) Purchased business for 90,000. |
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Answer» and tfgjksscbkkhfssfaadbjkkmggh Explanation: fgjkjssvhwsxaazvjlkcbklkbxc jifsxhkoosxvnbvvbbv FABLED |
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| 4514. |
On amalgamation, realization account is opened in the books of |
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Answer» Answer: Hope it helps you. Explanation: Please FOLLOW me till now please FAST...... And also MARK me in the BRAIN list till now please fast............................................... |
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| 4515. |
A slip attached with the bills of exchange in order to facilitate further endorsement is called |
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Answer» Explanation: What Is a Bill of Exchange?A bill of exchange is a written order used primarily in international trade that binds ONE party to PAY a fixed sum of money to ANOTHER party on demand or at a predetermined date. Bills of exchange are similar to checks and promissory notes—they can be drawn by individuals or banks and are generally TRANSFERABLE by endorsements Promissory note”A “promissory note” is an instrument in writing (not being a bank-note or a currency-note) containing an unconditional undertaking SIGNED by the maker, to pay a certain sum of money only to, or to the order of, a certain person, or to the bearer of the instrument. |
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| 4516. |
Following was the balance Sheet and 7 USUZLULase30.00020,000CreditorsBills Payables LoanRsLoanWorkmen Compensation ReserveCapitalsD1.00,0001.50.00050,000 Bank10,000 Debtors8.000 Stock12.000 Furniture20,000 Land and BuildingOs Capital2.45.00020.000250.0003,50,000The firm was dissolved on the above date on the following terms:(i) Debtors realized 328,000; and creditors and bills payable were paid at adiscount of 10%.(m Stock was taken over by T for 315,000 and furniture was sold to N for12,000.(ii) Land and building was sold for 32,80,000.(iv) R's loan was paid by a cheque for the same amount,(v) There was an unrecorded asset of 20,000 which was sold for 314,000.(1) The firm had a joint life policy of 35,00,000 with a surrender value of286,000. The policy was surrendered at its surrender value.Prepare Realisation Account, Bank Account and Capital Accounts of D G and T. |
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Answer» Do you KNOW what is it............... |
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| 4517. |
a cheque has been entered as deposited in the cash book instead of being entered as a payment ₹ 450 |
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Answer» SEARCH it on google Explanation: |
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| 4518. |
While looking over a newly assigned construction service client, you realize that there is inventory on the books and several different supplies accounts, with one begin marked as income, which has a negative balance. What do you believe is going on with this client?1) the client must be purchasing items for resale and forgetting to put them into inventory and making the items as supplies expense and supplies sales2) inventory is being used incorrectly and the supplies expense account is correct, with the supplies income being an incorrect posting3)the client must be debiting supplies income when selling from the inventory account4) the client must be putting all supplies as inventory and only using the supplies expense when they are being used |
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Answer» Answer: must be PURCHASING items for RESALE and FORGETTING to put themselves into INVENTORY and making the items as SUPPLIES expense and supplies salesman 2) inventory is being used incorrectly and another |
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| 4519. |
What are accountancy? |
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Answer» Explanation: ACCOUNTING or ACCOUNTANCY is the measurement, processing, and COMMUNICATION of financial and non financial information about economic entities such as businesses and corporations. |
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| 4520. |
A customer is posting the net payroll check from their third party vendor to Wages and Salaries1) no problem, just check the amount2)make a journal entry for the third party charges3) make a journal entry adjusting wages and salaries and withholding accounts |
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Answer» Answer: The MAURYA Empire was ESTABLISHED in the Greater Punjab REGION under the leadership of CHANDRAGUPTA Maurya... |
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| 4521. |
Ans it... Plss...sold goods of 50000 at 10% trade discount and 10% cash discount to Raj and received 50% by cheque and 20% by cash... give it by full explaination how the entry came.. pls.. |
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Answer» Answer: Bank a/c. ...dr. - 22,500 RAJ ...dr. - 13,500 cash a/c. ...dr. - 8,100 discount allowed. ...dr. - 900 to sales a/c 45,000 Explanation: WELL, trade discount is directly deducted from the sales and is not mentioned in the entry,but cash discount is always mentioned in the entry. so, 10% of 50,000 = 5,000 sales= 45,000 50% by CHEQUE ( which means by bank) 20% by cash REST 30% is to be paid which means raj is his debtor. thanks :) |
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| 4522. |
sold goods of 50000 at 10% trade discount and 10% cash discount to Raj and received 50% by cheque and 20% by cash... give it by full explaination how the entry came.. pls.. |
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Answer» Explanation: BankA/c Dr. 20250 Cash Ac Dr. 8100 Discount Ac Dr. 3150 RajAc Dr. 13500 To Sales Ac 45000 (being goods sold at 10% TD and 10% CD to Raj and recieved 50% by cheque and 20% cash) WORKING note... selling PRICE =50000 TD=10/100×50000 =5000 NET selling price =50000-5000 =45000 .....Sales Ac 50%net selling price received by cheque 50%net price- cash discount 50/100×45000 =22500 10% Cash discount =10/100×22500 =2250 thus, 22500-2250=20250 .....Bank Ac 20% net selling price received by cash 20% net selling price - cash discount 20/100×45000-cash discount on goods = 9000-900 =8100....Cash Ac 30% net selling price is not received = not received amount = 30/100×45000 =13500......Raj Ac |
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| 4523. |
Distinguish between hire purchase system and installment system |
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Answer» Answer: Hire Purchase: System of buying goods by making regular payment until the full price is paid. Installment: System of credit sale in which a SUM of money or debt is paid REGULARLY in installment. Hire Purchase: Buyer cannot TRANSFER or sell the good until the final installment is MADE. |
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| 4524. |
In cash basis accounting, how would i record a 17000 insurance payment that is for an 18 month policy?1) categorize the full amount from bank feeds when it's posted. Since its cash based accounting method you can recognize the amount when it's paid2) the company would debit prepaid insurance and credit cash. The following month the firm recognizes one month of insurance expense. The journal emtry is to debit (increase) insurance expense and credit prepaid insurance. Ypu would do that for all following month3) prepaid insurance premiums are deductable when paid as lonmg as they don't apply to period extending more than 12 months after the end of the taxable year when the payment were made. if the insurance contract runs for a longer period, general rule applies and you need to take the deduction over time |
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Answer» Answer: 2) |
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| 4525. |
न्यूनतम कीraye को किस नाम से जाना जाता है |
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| 4526. |
Open the account with Bhagini NiveditoShankari Bankbydeposile s 25000 |
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Answer» bfjdjdndbdbxjbxxbxxbsgdggddhdhxhhdh |
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| 4527. |
1Hunam Ltd. took over the assets of 6,80,000 and liabilities of 80,000 of Ramtel Ltd.for a consideration of 7,00,000. 20% was paid by a cheque and the balance by issueof fully paid equity shares of 100 each at a premium of 40%. Pass the necessaryjournal entries in the books of Hunam Ltd. for these transactions. |
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Answer» you MAM sorry mam because I am SURE the lama will be so GOOD |
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| 4528. |
You are required to Compute all variances for a product X, the standard cost data perunit of output for which are as follows:Direct material 20kg @ Rs.10per kg Direct labour 12 hours at Rs. 5.50 per hour Variable overheads 12 hours at Rs. 10 per hour Fixed overheads Rs.9,00,000 per month based on a normal volume of 60,000 direct labour hours Selling price Rs. 600 per unit The costs incurred and other relevant information for the month of June2020 are as under Direct material used 1,00,000 kg at a cost of Rs. 10,50,000 Direct wages paid Rs. 3,10,000 for 62,000 hours worked Overheads Rs.15,26,000 out of which a sum of Rs.9,40,000 is Fixed Actual output 4,800 units sold for Rs. 28,32,000 Assume no stocks of work-in-progress or finished goods at the beginning or at the end of the month. |
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| 4529. |
..with dret £ 2.000 at the end of20. Suresh a partnerontemonths, calculate interst etEvery two29pa on deaning of Suresh for the year endingunder product method31st march 2014 |
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| 4530. |
Who is father of accountancy... |
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Answer» Explanation: Fra Luca BARTOLOMEO de Pacioli was an ITALIAN mathematician, Franciscan FRIAR, collaborator with Leonardo da Vinci, and an early CONTRIBUTOR to the field now KNOWN as accounting This is all done❤️✌️ |
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| 4531. |
The _________ makes the amendment in the form of omission, insertions and substitutions in the Income Tax Act. |
Answer» finance billExplanation: Finance bill Finance bill becomes finance act after the assent of parliament. 9. The finance bill makes the amendment in the form of OMISSIONS, insertions and substitutions in the INCOME TAX Act |
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| 4532. |
ओरिजिनल कॉस्ट ऑफ फर्नीचर अमाउंट टू पोर्ट एंड डिसाइडेड टू |
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Answer» LAW is a system of rules created and enforced through social or governmental INSTITUTIONS to regulate behavior, with its PRECISE definition a matter of longstanding debate. .. In civil law jurisdictions, a legislature or other central BODY codifies and consolidates the law. |
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| 4533. |
माल भेजने के विभिन्न तरीकों को संक्षेप में बताएं |
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Answer» Freight aircraft are used to DELIVER cargo. Often, passenger vehicles are used for delivery of goods. These include buses, vans, pick-ups, cars (e.g., for mail or PIZZA delivery), motorcycles and bicycles (e.g., for NEWSPAPER delivery). |
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| 4534. |
3.Where ________ ends then ________ begins.A. Finance and AccountingB. Book keeping and AccountingC. Accounting and Book keepingD. Book keeping and Finance |
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Answer» Answer: C : ACCOUNTING & Book KEEPING |
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| 4535. |
What is Inter-Firm Analysis ? what is the lesson number |
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Answer» INTER FIRM comparison means a comparison of two or more SIMILAR business UNITS with the objective of FINDING the competitive position to improve the profitability and productivity of those business units. |
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| 4536. |
1.What type of transactions do we record in the books of accounts?A. Monetary natureB. Cash natureC. Political natureD. Social nature |
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| 4537. |
If operating leverage is 2, and EBIT is 50000 , contribution is? |
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Answer» nzkskskkssksnsnsnznznznsnsnmKakakakak |
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| 4538. |
Archana, suresh and deepak are partners in a firm. on 1st April, 2016 the balance in their capital accounts stood at 600000 , 500000 and 400000 respectively. they shared profits in the proportion of 4:2:3. partners are entitled to interest on capital @7% per annum and salary to suresh @10000 per quarter and a commission of 2000 p.m. to deepak as per the provisions of the partnership deedsuresh's share of profit including interest on capital but excluding salary is guaranteed at 60000 p.a. Any deficiency arising on that account shall be mer by archna. The profit of the firm for the year ended 31st march, 2017 amounted to 259000prepare profit and loss appropriation account for the year ended 31st March , 2017. |
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Answer» PLEASE CHECK the ATTACHMENT |
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| 4539. |
CP India Ltd has the following capital structure, which it considers optimal:Debt 25%Preference Shares 15%Equity shares 60%Total 100%Applicable tax rate for CPIL is 25%. and investors expect earnings and dividends togrow at a constant rate of 9% in the future. Risk free rate of return is 6%, average equity share has expected rate of return of 15%. CPIL’s beta is 1.50. Following terms wouldapply to new securities being issued as follows:1. New preference can be issued at a face value of Rs. 100 per share, dividend and cost of issuance will be Rs. 8 per share and Rs. 4 per share respectively.2. Debt will bear an interest rate of 10%.Calculatea. Component cost of debt, preference shares and equity shares assuming that CPIL doesnot issue any additional equity shares.b. WACC. |
| Answer» WOW ACCOUNTING is HARD | |
| 4540. |
Revenue arising as a result of business transactions is known as |
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| 4541. |
on June 30th 2019 cashbook of a merchant showed a debit balance of ₹4100 on checking his cash book balance with passbook the following difference were noted find bank reconciliation statement |
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Answer» Explanation: on June 30th 2019 cashbook of a merchant showed a DEBIT balance of ₹4100 on CHECKING his cash BOOK balance with passbook the following difference were noted find bank RECONCILIATION statedebit balance of ₹4100 on checking his cash book balance with passbook the following difference were noted find bank reconciliation une 30th 2019 cashbook of a merchant showed a debit balance of ₹4100 on checking his cash book balance with passbook the following difference were noted find bank reconciliation |
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| 4542. |
19. ਕੋਈ ਦੇ ਪ੍ਰਸ਼ਨ ਕਰੋ ।2,42( ਅਕਾਮ ਲਿਮਿਟਡ ਨੇ 100 ਰੁਪਏ ਫ਼ੀ ਅੰਸ਼ ਦੀ ਕੀਮਤ ਤੇ 2999) ਮਤਾਂ ਅੰਸ਼ ਜਾਰੀ ਕੀਤੇ , ਜਿਹਨਾਂ ਦਾ ਭੁਗਤਾਨਹੇ ਦਿੱਤੇ ਅਨੁਸਾਰ ਕੀਤਾ ਜਾਣਾ ਸੀ ?ਬੇਨਤੀ ਪੱਤਰ ਅਤੇ ਵੰਡ ਸਮੇਂ50ਪਹਿਲੀ ਯਾਚਨਾ ਤੇਤੋਂ 25ਦੂਜੀ ਯਾਚਨਾ ਤੇ25400 ਅੰਸ਼ਾਂ ਦੇ ਧਾਰਕ ਮੈਂਬਰਾਂ ਦੁਆਰਾ ਦੂਜੀ ਯਾਚਨਾ ਤੇ ਭੁਗਤਾਨ ਨਹੀਂ ਕੀਤਾ ਗਿਆ ਅਤੇ ਇਸ ਲਈ ਅੰਬਾਂ ਨੂੰਉੱਚਿਤ ਢੰਗ ਨਾਲ ਜ਼ਬਤ ਕਰ ਲਿਆ ਗਿਆ, ਜਿਹਨਾਂ ਵਿਚੋਂ 300 ਅੰਸ਼ਾਂ ਨੂੰ 70 ਰੁਪਏ ਪ੍ਰਤੀ ਅੰਬ ਦੀ ਕੀਮਤ ਤੇ ਪੂਰਨਭੁਗਤਾਨ ਕੀਤੇ ਗਏ ਅੰਸ਼ਾਂ ਵਜੋਂ ਦੁਬਾਰਾ ਜਾਰੀ ਕੀਤਾ ਗਿਆ । ਕੰਪਨੀ ਦੀਆਂ ਵਹੀਆਂ ਵਿਚ ਰੋਜ਼ਨਾਮਚਾ ਦਰਾਜ਼ਕਰ। |
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Answer» USE ENGLISH it's better to ANSWER as most of them won't come to know hindi |
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| 4543. |
11. Mr. A does not maintain complete double entry books of accounts. From the following details determine theprofits for the year and Statement of Affairs at the end of the year.1,000 (cost) furniture was sold for 75,000 on 1.1.1997; 10% depreciation is to be charged on furniture. Mr. Ahas drawn 1,000 per month. * 2,000 was invested by Mr. A in 1997 :1.1.199731.12.1997₹Stock40,00060,000Debtors30,00040,000Cash2,0001,000Bank10,0005,000 (O.D.)Creditors15,00025,000Outstanding Expenses5,0008.000Furniture (cost)3,0002,000bank balance on 1.1.1997 is as per cash book ,but the bank overdraft on 31.12.1997 is as per bank statement rs. 2000 cheques drawn in December ,1997 have not been encashed within the year |
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Answer» Answer:
Explanation: mark as brainliest plz I |
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| 4545. |
X and Y were partners in a firm sharing profits in the ratio of 3 : 2. On 31st March, 2018 their balancesheet was as follows:Balance Sheet Liabilities Amount Assets Amount` `Sundry Creditors 50,000 Cash 10,000Bills Payable 20,000 Debtors 40,000Outstanding Exp. 10,000 Stock 1,00,000Capital Accounts : Machinery 80,000X 1,80,000 Land and Building 1,00,000Y 70,0003,30,000 3,30,000On the above date Z was admitted as a new partner in the firm for ¼th share in the profits on the following terms :(a) Z will bring Rs.1,20,000 for his capital and Rs.20,000 as his share of premium for goodwill.(b) Machinery was depreciated by 10%.(c) Land and building was appreciated by Rs.30,000.(d) Stock is overvalued by Rs.20,000.(e) A provision for 5% was to be created for doubtful debts.(f) Salary outstanding was Rs.5,000.Prepare Revaluation Account. |
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Answer» X and Y were PARTNERS in a firm sharing profits in the RATIO of 3 : 2. On 31st MARCH, 2018 their balance sheet was as follows: Balance Sheet Liabilities Amount Assets Amount ` ` Sundry Creditors 50,000 Cash 10,000 Bills PAYABLE 20,000 Debtors 40,000 Outstanding Exp. 10,000 Stock 1,00,000 Capital Accounts : MACHINERY 80,000 X 1,80,000 Land and Building 1,00,000 Y 70,000 3,30,000 3,30,000 On the above date Z was admitted as a new partner in the firm for ¼th share in the Prepare Revaluation Account. |
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| 4546. |
ali consigned 100 cases of candle to khalid costing rs 50 per case.He incurrind expenses packing rs 100 carriage rs 150 and rail fright rs 200 some cases were damaged in transit and consingnee took delevery of 90 cases consine spent rs 50 for cartage and rs 300 towards warehouse rent khalid sold 70 cases at rs 60 per case he sent net amount payable to consinger after deducting her expense and commission at the rate of 5% of sale consingner recievd 300 from railway for damages show consignment account and consing ac in the book of consingor |
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Answer» CHOOSE the correct punctuation mark. We are WORKING HARD * 2 points , ! . ? |
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| 4547. |
Started business with good furniture 4000 |
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Answer» what's the question Explanation: .. |
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| 4548. |
Shares can be forfeited:a) For non-payment of call money. b) For failure to attend meetings .c)For payment of calls in advance. d) None of these. |
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Answer» option: A Explanation: Forfeiture of shares is referred to as the situation when the allotted shares are cancelled by the issuing company due to non-payment of the subscription amount as REQUESTED by the issuing company from the shareholder. Some shareholders MIGHT fail to pay instalments, ALLOCATION of money or call money |
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| 4549. |
Pass journal entry for a following adjust of 31st March 2021 |
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Answer» Answer: |
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| 4550. |
For a buyback a company should open an escrow account with |
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