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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.
| 4701. |
Reserves and profits in the books of a partnership firm at the time of admission of a new partner are to be transferred to the old partners' capital account in |
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Answer» Answer: grue you 2nd GRADE is he still have any of the AFRICAN American Horror Story HOTEL EPISODE of the African American Horror Story hotel episode of the African American Horror Story hotel episode of the African American Horror Story hotel episode of the African American Horror Story hotel episode of the African American Horror Story hotel |
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| 4702. |
Gave cash to suresh journal entry |
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| 4703. |
Reserves and profits in the books of a partnership firm at the time of admission of a new partner are to be transferred to the old partners' capital account in what ratio |
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| 4704. |
Introduction of residential status |
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Answer» which INTRODUCTION you WANT |
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| 4705. |
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 at30,000. Pass necessary journal entry for the treatment of goodwill on Z's retirement. |
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Answer»
Goodwill =Rs.30,000
old ratio (1 : 2) X Y Z 15,000 10,000 5,000 10,000 20,000 - 5,000 (Cr) 10,000 (Dr) 5,000 (Cr) 30,000 30,000 ∴ Journal entry Y's capital a/c Dr 10,000 To X's capital a/c 5000 To Z's capital a/c 5000
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| 4706. |
the purchase price of a machine rupees 20000 its establishment expenses are two thousand aarad usual value is 1000 its working life is 10 years calculate one year depreciation and prepare machinery account of three years |
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Answer» kyon BHAI banta HAI kya hamen bhi banta hai main kahaniyan mein 2 mahine SE dusri bar question karne se PAHLE sau bar sochana Papa Papa Papa Papa Papa Papa Papa Papa Papa Papa Papa Papa Explanation: mark it as brainliest |
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| 4707. |
When to use net asset and payment method with example |
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| 4708. |
Explain the need of bank reconciliation statement. |
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Answer» Answer: When you RECONCILE your business bank account, you compare your internal financial records against the records PROVIDED to you by your bank. A monthly reconciliation helps you IDENTIFY any unusual transactions that MIGHT be caused by fraud or accounting errors, and the practice can also help you spot INEFFICIENCIES. |
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| 4709. |
Indirect Expenses 10,000.Ans. 40,000 (n) 30,000Find out the net income from the following figures relating to year 2019:2 ₹₹Opening Stock10,000 Purchases (Net)25,000Closing Stock5,000 Direct Expenses1,000Sales (Net)45,000 Operating Expenses2,000owners anderested in accste. In order toconveying theun certain welland principlescedures and |
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Answer» SORRY i DONT UNDERSTAND your WORDS |
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| 4710. |
Charactrtistics of a good measure it tendancy |
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Answer» piiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii |
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| 4711. |
From the following figures prepare the Trading and Profit and Loss Accountfor the year ended 31st march 2019 and the balance sheet as at that date:- |
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Answer» Answer: Some Working Notes:- Working NOTE:- Calculation of DEPRECIATION:- Depreciation on Furniture = 20,000 x 15% = Rs. 3,000 Depreciation on Motor Car = 1,50,000 x 20% = Rs. 30,000 Calculation of Provision for Doubtful Debts:- Provision Doubtful Debts = Sundry DEBTORS — Further Bad Debts x Rate Provision Doubtful Debts = 82,000 — 2,000 x 5% Provision Doubtful Debts = Rs. 4,000 |
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| 4712. |
The subsidiary ledger accounts with credit balances are |
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Answer» Answer: The accounts RECEIVABLE subsidiary LEDGER shows the TRANSACTIONS and payment HISTORY of each customer that has been extended credit. The balance in the accounts receivable subsidiary ledger is RECONCILED with accounts receivables in the general ledger. |
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| 4714. |
What do you understand by a bank reconciliation statement?Explain the need of bank reconciliation statement. |
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Answer» from which BOOK and class this question is?? Explanation: |
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| 4715. |
Return inwards books record |
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Answer» The BOOK of prime entry used to RECORD any returns of goods sold. Returns are POSTED to the individual debtor's account in the debtors' ledger and the total returns are posted to the debtors' ledger CONTROL account and returns inwards accounts in the nominal ledger Explanation: hope it's helpful |
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| 4716. |
Cash price of a product is Rs. 65,000. For hire purchase of the product, downpayment of Rs. 20.000 is to be made together with three equal annual instalmentof Rs. 25,000 each including interest. Calculate total amount of interest is to bepaid in three years for hire purchase of the product. |
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Answer» VOLCANO I don't have a lot I don't have a few to my HOUSE to be the best of you and the day |
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| 4717. |
What is company called up |
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Answer» The amount of share CAPITAL SHAREHOLDERS owe, but have not paid, is REFERRED to as called-up capital. HOPE IT WILL HELP YOU☜ |
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| 4718. |
Prepare Trial Balance as on 31.12.2000 from the following balances of Mr. Balan.Capital 3,40,000 Purchases 94,000Creditors 13,000 Sales Returns 3,400Drawings 4,000 Purchases Return 2,400Salaries 38,200 |
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Answer» zsxccvdddv bvvcxxaacv |
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| 4719. |
Assets sold on credit are entered in____ |
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Answer» Explanation: sales journal |
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| 4720. |
Allowance of Rs 4,000 was granted for substandard goods by the supplier. This transaction would be recorded in |
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Answer» Answer: 600000. .nijsheirhrheze |
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| 4721. |
8ਹੇਠ ਲਿਖੀ ਜਾਨਕਾਰੀ ਤੋਂ ਦਸੰਬਰ 2019 ਲਈ ਸਾਧਾਰਣ ਰੋਕੜ ਬਹੀ ਤਿਆਰ ਕਰੋ।ਦਸੰਬਰ ਨਕਦ ਬਕਾਇਆ7,750 ਰੁਪਏਦਸੰਬਰ 6ਸੋਨੂ ਨੂੰ ਅਦਾਇਗੀ450 ਰੁਪਏਦਸੰਬਰ 8ਵਸਤੂਆਂ ਦੀ ਖਰੀਦ600 ਰੁਪਏਦਸੰਬਰ 15ਪ੍ਰਕਾਸ ਤੋਂ ਨਕਦ ਪ੍ਰਾਪਤ ਕੀਤਾ 960 ਰੁਪਏਦਸੰਬਰ 26ਕਿਰਾਇਆ ਦਿੱਤਾ ਗਿਆ600 ਰੁਪਏ |
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Answer» ਹੇਠ ਲਿਖੀ ਜਾਨਕਾਰੀ ਤੋਂ ਦਸੰਬਰ 2019 ਲਈ ਸਾਧਾਰਣ ਰੋਕੜ ਬਹੀ ਤਿਆਰ ਕਰੋ। ਦਸੰਬਰ ਨਕਦ ਬਕਾਇਆ 7,750 ਰੁਪਏ ਦਸੰਬਰ 6 ਸੋਨੂ ਨੂੰ ਅਦਾਇਗੀ 450 ਰੁਪਏ ਦਸੰਬਰ 8 ਵਸਤੂਆਂ ਦੀ ਖਰੀਦ 600 ਰੁਪਏ ਦਸੰਬਰ 15 ਪ੍ਰਕਾਸ ਤੋਂ ਨਕਦ ਪ੍ਰਾਪਤ ਕੀਤਾ 960 ਰੁਪਏ ਦਸੰਬਰ 26 ਕਿਰਾਇਆ |
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| 4722. |
At the large confectionary shop, chocolates of Rs.6,200 were presented to the daughter of the owner on her first visit over there. If the accountant is not acquainted with the business entity concept, which of the following account would be the credit account in the journal entry? A.Sales B.Purchases C.Drawing D.Cash * |
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Answer» यह कौन चीज किस चीज का क्वेश्चन है मैथ का है कि इंग्लिश कहां है बताइए मैं आपकी मदद कर सकती हूं उसमें मैं अपने टीचर से बात कर रही हूं मैं टाइप कर रही हूं 10 मिनट रुक 10 मिनट रुक 10 मिनट रुक |
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| 4723. |
Prepare trading and profit abd loss account and also balance sheet |
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Answer» jnnnn...........बससबबहभ। |
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| 4724. |
Company, purchased on 1st April 1992 machinery costing Rs. 60,000/-.It purchased further machinery on 1st October 1992 costing Rs. 20,000/- and on 1st July 1993 costing Rs. 10,000/-. On 1st January 1994 one-third of the machinery purchased on 1st April 1992 became obsolete and was sold for Rs. 6,000/-.On 1st January 1995 the remaining portion of the machinery purchased on 1st April 1992 was also sold for Rs. 5000/-.1Show how machinery account would appear in the books of the company from 1992 to 1995 if depreciation is being charged at the rate of 10% p.a. as per reducing balance method. |
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Answer» Answer: ANSWER: AMOUNT of Depreciation=Cost of Machine−Scrap Value of Machine LIFE in YEARS =1,20,000−72,0004=Rs 12,000Rate of Depreciation=Amount of DepreciationCost of Machine×100 =12,0001,20,000×100=10%p.a. |
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| 4725. |
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» y's a/c dr. |
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| 4726. |
I: Fill in the blanks: Cash book is a_______journal[book). |
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Answer» Answer: CASH book is a SUBSIDIARY / FINANCIAL journal. Hope this helps ☺️ |
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| 4727. |
& The book of Arulraj does not agree. The accountant placed thedifference 1270 to the debit of suspense account. Rectify the followingand prepare the suspense account.1) A sale for 430 to Gopal has been credited to his accountas 340ii) Drawings * 75 for personal use have not been entered in thebook at all.II) Old furniture sold * 540 has been entered in the sales accountas 7450iv) A purchase of 400 from Arun has been entered in the salesbook. However, Arun's accounts has been correctly credited.v) The total of the purchases return book 210 has not been posted.(M.S. University Apr. 2000)(Ans : Suspense a/c Total 1570) |
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Answer» Explanation: 0gskgsoyaotqaitita6aoi5q5iqksgkgw |
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| 4728. |
What are the duties of promoters? |
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Answer» Explanation: DUTY to Disclose. The PROMOTER is under a duty to disclose fully all the material facts relating to the formation of a company. Not to Make any Secret Profit. ... Duty to Give Benefits of Negotiations to the Company. ... Not to make Unfair Use of his Position. FOLLOW ME |
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| 4729. |
Realization account is a....? |
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Answer» realization account is preapred at the time of dissolution of a partnership FIRM. Explanation: this account is prepared to KNOW the PROFIT made or loss incurred at the time of dissolution of a firm |
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| 4730. |
Out income from subscription during the year ending 2019 : 2Particulars `Subscription received during the year 12,000Subscription outstanding in the beginning of the year 2,000Subscription received in advance for the next year 2020 900Subscription received in advance during 2018 year 700Subscription outstanding at the end of the year 2,800 |
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Answer» Answer: 9.The RECEIPTS and Payments ACCOUNT of a club shows Rs 60,000 as the SUBSCRIPTION received during 2016-17. Accrued subscription at the beginning of the year was Rs 4,200 and that at the end of the year was Rs 3,800. There was no UNEARNED subscription on 01-04-2016. but that on 31-03-2017 was Rs 1,400. Prepare a STATEMENT showing the amount of subscription to be credited to the Income and Expenditure Account for the year ending 31-03-2017.9.The Receipts and Payments Account of a club shows Rs 60,000 as the subscription received during 2016-17. Accrued subscription at the beginning of the year was Rs 4,200 and that at the end of the year was Rs 3,800. There was no unearned subscription on 01-04-2016. but that on 31-03-2017 was Rs 1,400. Prepare a statement showing the amount of subscription to be credited to the Income and Expenditure Account for the year ending 31-03-2017. |
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| 4731. |
(xviii) Dissolution of firm means, dissolution of partnership between all the partners in the firm .(True/False) |
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Answer» ........ ... ..... |
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| 4732. |
Employees benefit expenses includes |
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Answer» Answer: (i) Includes the value of the FRINGE benefit to the employee plus the fringe benefit tax component, leave entitlements INCLUDING superannuation CONTRIBUTION component. Employment on-costs expenses such as workers' COMPENSATION insurance and payroll tax are INCLUDED at note 11 'Other expenses'. |
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| 4733. |
Pass the necessary journal entries for the following transactions on the dissolution of the firm of Sudha and Shiva after the various assets (other than cash) and outside liabilities transferred to Realisation account: 4 a. Sudha agreed to pay off her husband's loan As. 19,000. b. A debtor whose debt of Rs. 9,300 was written off in the books paid Rs. 7,500 in full settlement C. Shiva took over all investments at Rs. 13,300. d. Sundry creditors Rs. 10,000 were paid at 9% discount. |
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Answer» Answer: Answer: Answer : A machine will cost RS 500000 and will provide annual net cash inflow rs 150000 for six years.The cost of capital 15% calculate the machine nvp ,PI and IRR should the machine be purchased the entry for this purchase has not been made in the book . this was in adjustment of financial ACCOUNTING GIVE me 2 effect of this question . Journalis the following transactions in the books of Priya nath Explanation: PLZ FOLLOW ME AS BRAINLIST |
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| 4734. |
14) Determine the pay back period for a project which requires a cash outlay of Rs. 10,000 and generatescash inflows of Rs. 2,000, Rs.4,000, Rs.3.000 and Rs. 2,000 in the first, second, third and fourth yearrespectively. |
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| 4735. |
Flexible curriculum can be fitted to the needs of school |
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Answer» PLS MARK BRAINLIEST pls mark branloest Explanation: pls mark brainliest |
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| 4736. |
Maximization? (K4)13) A firm has the following capital structure and after-tax cost for the different sources of funds used:(K3)Sources of funds Amount(Rs) ProportionAfter tax cost(2)Debt1500000255Preference shares 12000002010Equity shares18000003012Retained Earnings 150000025Total60000001.00You are required to compute the Weighted average cost of capital. |
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Answer» what .......,......................
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| 4737. |
A machine purchased on 1-12-2016 at cost of 50,000 and Rs.4,000 was spend on installation.The depreciation is written off at 15% on the original cost of every year. the books are closed on 31.12. each year. the machine was soled Rs.25,000 on 31.3.2019. so machinery account for all the years.(compulsory) |
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Answer» Answer: TOTAL cost of MACHINERY is 54,000 you should charge DEPRECIATION at 15% by straight line METHOD and you would easily get the answer.. |
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| 4738. |
(1) How will you consider the interest on debit balance of partners’ current accounts forfirm?[A] Expense [B] Liability [C] Income [D] Loss(2) Goods return debit means………[A] Purchase [B] Purchase return [C] Sales [D] Sales return(3) Value of goodwill is …. for business having licence, patent, trademark etc.[A] Less [B] More [C] Negative [D] Zero(4) What is the formula for super profit ? [A] Average profit - Expected profit[B] Average profit - Average profit [C] Expected rate of return - Average profit[D] Average profit ¸ Expected profit(5) Revaluation account is also known as ……..[A] Capital reserves account[B] Profit-loss appropriation account[C] Profit-loss adjustment account[D] Profit-loss account(6) In which ratio profit or loss of revolution account is distributed between the partners?[A] Sacrifice ratio [B] Gain ratio[C] New profit-loss ratio [D] Old profit-loss ratio(7) In the reconstruction of partnership firm, sacrifice = …….[A] New profit-loss share - Old profit-loss share[B] New profit-loss share - Old profit-loss share[C] Old profit-loss share - New profit-loss share[D] Old capital share - New capital share(8) When only old profit-loss sharing ratio is given; sacrificing ratio of partners = .........[A] Equal [B] Old ratio [C] Old share - new share [D] Cannot be calculated(9) When newly admitted partner is not able to bring his share of goodwill in cash .......... account is debited.[A] Cash [B] Goodwill[C] Premium for goodwill [D] His capital A/c |
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Answer» Answer: 1- b,2-a, 3-b |
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| 4739. |
12|A B C and D are partners.A and B share 3/4^( th ) of the profits in the ratio of 2:1.C and D 1 share remaining profits equally.Profit sharing ratios will be (a) 2:1:1:1(b) 2:1:2:2(c) 4:2:1:1 hline (d) 2:1:2:1 Arti and Bina are partners with profit sharing ratio of....,.........,.... ..........Ans :(c) how to solve |
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Answer» CH dhduddgddgd jiii vah☺ |
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| 4741. |
Que. No. 12Loss on realisation on amalgamation is _____partners capital Alc? |
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| 4742. |
A company has received applications for 30,000 equity shares of 7 10 each and 20,000 12% preferenceshares of 10 each. The company called up 7 8 on per equity shares and 7 6 on per preference shares.Ajit did not pay 7 3 per share on his 3,000 shares and Sumit did not pay 75,000 on his preference sharesShow the capital is Balance Sheet. |
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Answer» jb game frozen ISKA smooch uc GSM Nov can MISS Nizami's Cristian |
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| 4743. |
a purcahse of 350 from y has been entered in the sales book l. however y's account has been correctly enterned |
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Answer» Explanation: PLEASE give correct INFORMATION i do not UNDERSTAND your QUESTION |
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| 4744. |
Agritex is considering building either a one-storey (Project A) or five-storey (Project B) block of offices on a prime site. The following information is available:Initial Investment OutlayNet Inflow at the Year EndProject A-9,50011,500Project B-15,00018,000Assume k = 10%, which project should Agritex undertake? |
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Answer» Answer: SORRY I didn't know this was a good idea to have any more questions Explanation: |
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| 4745. |
All factory expenses taken into ................ |
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Answer» Answer: chemical pls FOLLOW me pls |
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| 4746. |
Following are the Balance Sheet of Quick Gains Ltd-Particulars NoteNo. 31.03.12 31.03.2011I--Equity and liabilities-1-Shareholder’s Funda –share capital 2,00,000 2,00,000b-Reserve and surplus 1,25,000 20,0002- Non-current liabilitiesLong term borrowings 75,000 50,0003-Current liabilities: a-Trade payable 36,000 70,000b-Short term provision 1 43,000 30,000TOTAL 4,79,000 3,70,000II-ASSETS1- Non- Current Assets Fixed Assets 2 3,23,000 1,84,0002- Current Assets a-Inventory 72,000 50,000 b-Trade Receivables 51,000 75,000 c-Cash and Cash Equivalents 33,000 59,000 d-Other Current Assets 3 ------- 2,000TOTAL 4,79,000 3,70,000 31.03.2012 31.03.2011NOTES-(1)Short Term ProvisionProvision for tax 15,000 10,000Proposed Dividend 28,000 20,000 43,000 30,000(2) Fixed Assets 3,75,000 2,20,000 Less Accumulated Depreciation 52,000 36,000 3,23,000 1,84,000(3)Other Current Assets; Prepaid Expenses ____ 2,000Additional information:Interest paid on long term borrowings amounted to Rs 8,000.You are required to prepare a cash flow statement. |
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Answer» Answer: no idea about the answer |
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| 4747. |
A Company issued 50,000 shares of ₹ 20 each at 5% premium. ₹ 10 were payable on application and balance on allotment. What will be the allotment amount? |
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Answer» Answer: 06-Nov-2020 · 2 answers ₹10 were PAYABLE on application and balance on ALLOTMENT. What will be the allotment AMOUNT? *. 2. SEE answers |
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| 4748. |
Vijay and Ashok are in partnership |
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Answer» ohhhhhhhhhh reallyyyyyyyyy |
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| 4749. |
A) Gopal’s acceptance of Rs.12,000 in favour of Kishan was endorsed to Murlidhar in full settlement of Rs.12,500 is now dishonoured. Noting Charges Rs.150 paid by Murlidhar.Pass Necessary Journal Entries in the books of Kishan and Murlidhar for dishonour of bill.b) Ravi’s draft on Bhaskar for Rs.15,000 was discounted from the bank at Rs.14,500. The bill got dishonoured on the due date and noting charges amounted to Rs.500 paid by bank.Pass Journal Entries in the books of Ravi and Bhaskar.c) On 30th June, 2020 Shiv wrote a bill of Rs.18,000 on Shankar for 60 days. Shiv sent this bill to his bank for collection. On the due date bill was dishonoured and noting charges Rs.200 paid by Shiv. On 10th October, 2020 Shankar declared insolvent and only 60 paisa in a rupee could be recovered from his estate.Pass Journal Entries in the books of both the parties. |
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Answer»
first MARK me brainlist |
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| 4750. |
X,y,z are parterns in a firm sharing profit and losses as 5:4:3 .their balance |
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Answer» nmckkkzmzmzmzmznznnznZ |
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