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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.
| 4901. |
From the following particulars, prepare bank Reconciliation Statement as on 31* March 2019.(1) Balance as per Cash Book? 50,000.A cheque for 500 issued in favour of Rahul has not been presented for payment. (iii) A bill for 1.200 retired by bank on our behalf under a rebate ofR 70, the full amount of the bill wascredited in Cash Book(iv) A cheque ofR 200 deposited in the bank has been dishonoured. (V) A sum of 900 deposited in the bank has been credited as 90 in the Pass Book(vi) Payment side of Cash Book has been undercasted by 200. (vii) A bill receivable for 1,000 (discounted with the bank in February 2019 dishonoured on 31"March 2019, but the dishonour was not recorded in the Cash Book |
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Answer» Explanation: 1) Balance as PER Cach Book. Add ☺ Cheque inue but not perented (in bill refie under a sebate difference (700-680) ley: Cheque dubon't clinhonou Chort depon't in bank (V) ( 800- 80) V2 Caih bau endercad (vi) Bill dishonour (discounted) Balance as per P.B 10,ooo 500 20 (295 (720) (200) (1000) 8 305 |
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| 4902. |
Is reserve a charge against profit or an appropriation of profit? Discuss. |
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Answer» Reserves are the amounts set aside out of profits. ... It is an APPROPRIATION of profits which are used for the distribution of DIVIDENDS or for meeting the contingent liabilities. Explanation: I hope this helps you |
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| 4903. |
6. OnwhichsideofthetrialBalance,thefollowingLedgerbalanceswillappear–I PurchaseReturn II FurnitureIII BankLoan IV DiscountAllowedV Capital VI DrawingsVII ReturnInwards VIII BillsReceivable |
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Answer» Answer: no IDEA about the answer.... Explanation: |
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| 4904. |
Modifying principles are mainly used to incorporate..... in accounting conventionsFlexibilityRigidityNone of these |
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Answer» Answer: flexibility Explanation: as you are LIVE in dynamic world where we need something new for the CUSTOMER and all as well rapid change after globalisation we need to CO OP with international trends...... |
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| 4905. |
What is sacrificing ratio? How is it calculated? |
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Answer» Answer: Sacrifice ratio is termed as a ratio in which the existing partners sacrifice for the other(s) existing partner(s) or new entering partner to gain the share of profit in the firm, as the case may be. In other words, the Sacrifice ratio is a ratio of sacrifice made by existing partner(s) to make a way for a new partner to admit in to partnership firm or for increasing the share of one or more existing partner (in case of reconstitution of firm for change in profit or loss sharing ratio).Therefore, the Sacrifice ratio arises when the OLD profit share of the existing partners are more than the new profit share in the newly reconstituted firm. Thus it can be computed by deducting the new ratio from the old ratio (i.e. Sacrifice ratio = Old ratio –New Ratio). However, the sacrifice ratio is significant in the following two situations and is computed as under:When the firm is reconstituted again for the change in the profit or loss sharing ratio, then Sacrifice ratio is very IMPORTANT for making adjustments of various ITEMS LIKE Treatment of GOODWILL without showing it in books, adjustment for revaluation of assets and liabilities without changing the book values of assets and liabilities, treatment of general reserves and other accumulated profits or losses without changing the book values of such reserves and accumulated profits or losses.Sometimes, the existing partners decide to change the existing profit or loss ratio to some new ratio to give benefit to one or more of existing partners in the future profits. In such cases, to provide the benefits, one or more existing partners have to sacrifice in some agreed ratio so as to benefit the other existing partner(s). Therefore, in such cases, normally, the old profit sharing and new profit sharing ratio of the existing partners are giving and Sacrifice ratio of the new partners is computed with the help of the following formula:Sacrifice Ratio = Old profit Sharing ratio – New Profit Sharing ratio Explanation: I hope this will help you |
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| 4906. |
Only for ACCOUNTS EXPERTS(no scam please)16. ABC Ltd. purchased a running business from XYZ Ltd for a sum of ₹ 1,50,000 payable by issue of 10,000 equity shares of ₹ 10 each at a premium of ₹ 2 per share and balance in cash. The assets and liabilities taken over were :Plant-₹ 40,000; Building-₹ 40,000; Debtors-₹ 30,000;Stock-₹ 50,000; Furniture-₹ 20,000; Creditors- ₹ 20,000.Pass Necessary Journal Entries. |
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Answer» and LIABILITIES TAKEN over were : Plant-₹ 40,000; Building-₹ 40,000; Debtors-₹ 30,000; Stock-₹ 50,000; Furniture-₹ 20,000; Creditors- ₹ 20,000. Pass Necessary Journal Entries |
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| 4907. |
Write a brief note on' straight line method of providingdeprecation |
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Answer» DEPRECIATION accounts for decreases in the value of a company's assets over time. Accountants must adhere to generally accepted accounting PRINCIPLES (GAAP) for depreciation. There are FOUR methods for depreciation: straight LINE, declining BALANCE, sum-of-the-years' digits, and units of production. please follow me and mark me brainliest.. please.. please.. please.. please.. please |
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| 4908. |
The functions of accounting up to making entries in the ledgers are called.....AccountingBook keepingRecord keeper |
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| 4909. |
Sohan started bussiness 1 lakh sohan purchase good on credit rs5000 write down |
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| 4910. |
following are some adjustment ended 31dec prepare trading and profit and loss account Mr a capital ac |
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Answer» The QUESTION you have ASKED is INCOMPLETE..!! |
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| 4911. |
Loan taken from bank on 1.1.2020 - ₹ 1,00,000 at 8%. How will you consider it in Final Accounts? |
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Answer» the answer is 953 Explanation: |
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| 4912. |
Worker compensation fund is an outside liability. true or false |
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Answer» Worker COMPENSATION FUND is an outside liability. true Explanation: I HOPE this helps you please GIVE brainliest for my answer and follow me |
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| 4913. |
Jounalise the following transactions:a) Sold goods costing 7 075,000 to Amit ata perohet of 33 3% on cost less 20% Tradediscount. Amit paid40% immediatelyb) Provide interest on Capital of Rs 12,00,000at 5% for 4 months(C) Received Rs 9,800 in cash from Rano fora debt of Rs 10,000 which was written o# asbad debts last years |
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Answer» But what is the QUESTION. |
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| 4914. |
Ravikiran owns a big house. 50% of the house is let out for residential purposeat monthly rent of Rs. 10,000; 25% of the area is self-occupied for own residenceand remaining 25 % is used for own business. Municipal valuation of the house isRs.2.00.000. Fair rent is Rs.2.10,000 Estimate gross annual value |
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Answer» Answer: |
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| 4915. |
Which of the following is not a "free reserve" for thepurpose of buyback of shares?Profit or loss account.General reserve,Dividend equalization reserve.Revaluation reserve. |
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Answer» Answer: Which of the following is not a "free RESERVE" for the purpose of buyback of shares? Dividend equalization reserve. Explanation: I hope this HELPS you please give brainliest for my answer and follow me |
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| 4916. |
Cash Flow from the operating activities of Pinnacle Ltd. for the year ended 31st March 2019 was Rs 28,000. The Balance Sheet along with notes to accounts of Pinnacle Ltd. as at 31st March 2019 is given below: 6Pinnacle Ltd.Balance Sheet as at 31st March 2019ParticularsNote No.31.3.202031.3.2019I. Equity & Liabilities:1 Shareholders FundsShare CapitalReserves &Surplus2 Non Current Liabilities: Long term borrowings3 Current Liabilities:Trade PayablesTotalII. Assets1 Non Current Assets: Fixed Assets:Tangible AssetsIntangible Assets2 Current Assets:Current InvestmentsInventoriesCash & Cash Equivalents TOTAL12349,00,00090,0003,00,00060,00013,50,0007,46,00036,0001,30,0002,00,0002,38,00013,50,0005,00,0001,10,0002,00,00080,0008,90,0005,24,00076,00020,0001,30,0001,40,0008,90,000Notes to Accounts:Note no.Particulars31.3.202031.3.2019Reserves & Surplus90,0001,10,000Long term borrowing:9% debentures3,00,0002,00,000Tangible Assets:Plant & Machinery Accumulated Depreciation8,86,000(1,40,000)6,04,000(80,000)Intangible Assets:Goodwill36,00076,000You are given the following additional information:A machinery of the book value of Rs 90,000 (depreciation provided there on was Rs 23,000) ,was sold at a profit of Rs 12,000.9% debentures were issued on 1st April 2019.Prepare Cash Flow Statement. |
Answer» HOPE it HELPS you........ |
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| 4917. |
Which of thein Partner's capitalfollowing item is not recorded in partner's capital account |
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Answer» Answer: sorry I can't tell the answer plz tell me the RIGHT QUESTION U told that following but u didn't tell that options to us so plz tell it FIRST |
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| 4918. |
Give two difference between Book keeping and Accountancy. |
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Answer» In the simplest of terms, bookkeeping is responsible for the recording of financial TRANSACTIONS WHEREAS accounting is responsible for interpreting, classifying, ANALYZING, reporting, and SUMMARIZING the financial data. Bookkeeping and accounting may APPEAR to be the same profession to an untrained eye. |
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| 4919. |
6517. According to AS - 1 disclosureshould be made up ofa. Fundamental Accountingprinciplesb. All Accounting principles c. All Accounting policiesd. Significant Accountingpolicies |
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Answer» a. FUNDAMENTAL Accounting principles .................... |
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| 4920. |
Untitled SectionBalance of the cash column is Rs.18,174 after retaining Rs.2000 incashamount is to be deposited with the bank.*O 19164O1617418174 |
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Answer» Answer: no IDEA about the answer |
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| 4921. |
11 and 10 questions |
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Answer» MARK me as the BRAINLIEST |
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| 4922. |
A firm purchases computers for sale. These computers are.... for the business1 pointPurchasesSalesAssets |
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| 4923. |
If the Owner’s equity is 20,000 and creditors equity is 40,000. What will be the assets of the firm? |
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Answer» Answer: 20000 Explanation: |
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| 4924. |
SECTION A019 In Departmental accounting Indirect bostis to be allocated to differentdepartments based on some reasonablebases. Which method of departmentataccounting applies to apportionment ofexpenses?Gross Profit MethodOps: ADepartmental Profit MethodB.C. Net Profit Methodall the AboveD.Q 19/50Mark for ReviewNext |
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| 4925. |
Warfied company having net working capital of Rs. 3 lakhhas the current ratio of 1:8 and liquid ratio of 1:6. Its value of |
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Answer» .................................. |
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| 4926. |
पेरोवर वालेpeshevar vyakti kise kehte hai |
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Answer» kdhshaahahashshehsga |
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| 4927. |
Measurable value of an alternative use of resources |
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Answer» gugfhjjjjojohppp000 |
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| 4928. |
X purchased goods on credit his due date for payment were as under date of bill amount due date5-3-95 300 8-4-9514-4-95 200 18-5-9510-5-95 275 13-6-955-6-95 400 8-7-95 |
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Answer» Answer: Didn't understand the question Explanation: |
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| 4929. |
a budget that gives indication of purchases to be made as derived from production figures is known as |
| Answer» MARKET VALUE I THINK | |
| 4930. |
Seaworthyness means is |
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| 4931. |
Commerce class 11 chapter cost |
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Answer» Answer: Mathematics has itself been described as an art motivated by beauty. Mathematics can be discerned in arts such as music, DANCE, painting, ARCHITECTURE, sculpture, and textiles. ... Persistent popular claims have been made for the USE of the GOLDEN ratio in ancient art and architecture, without reliable evidence. Explanation: sorry dear.......i have medical stream.....no commerce.....☺️✌️ |
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| 4932. |
Puchase good worth 3000 from ajay and sold same to ram worth 4000 |
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Answer» Answer: to ajay a/c 3000 ram a/c ...... dr 4000 to SALES a/c 4000 |
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| 4933. |
A). A Ltd. issued 20,000 shares of 10 each payable 3 on application on1st January, 2019, 4 on allotment on 1st March and balance on 1stJune. All these shares were subscribed and money received.Ram holding 2,000 shares paid call money on allotment.Pass journal entries. Interest on calls in advance was paid @ 10% p.a. |
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Answer» Passcode: 123 |
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| 4934. |
A proforma cost sheet of a company provides the following particulars: Raw material cost per unit is Rs 80. Direct labour is Rs 30 per unit, overheads is Rs 60 per unit. The total cost is Rs 170 per unit. profit per unit is Rs 30 and selling price is Rs 200 per unit. The following additional information is available: 1.Raw materials are in stock on an average for one month. 2. Materials are in process on an average for half a month. 3. Finished goods are in stock on an average for one month. 4. Credit allowed by suppliers is one month. 5. Credit allowed to customers is two months. 6. Lag in payment of wages is 1 month. 7. Lag in payment of overhead expenses is one month. 8. One-fourth of the output is sold against cash. Cash in hand and at bank is expected to be Rs.25,000. You are required to prepare a statement showing the working capital needed to finance a level of activity of 1,04,000 units of production. You may assume that production is carried on evenly throughout the year, wages and overheads accrue similarly and assume 12 months in a year. |
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| 4935. |
What is accounting..?? |
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Answer» Answer: explain accounting accounting or accoutancy is the mesurement, processing, and communication of financial and non financial information about economic such as BUSINESS and corporations. |
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| 4936. |
Discount is the deducation in the price of the goods sold state true or false |
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Answer» Answer: so plz mark me as brainlist and show some lovee |
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| 4937. |
How much Indian Banks are safe today? |
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Answer» All Banks, be they GOVERNMENT or Private, are LEGALLY safe only up to Rs 1 LAKH savings under the provisions of the Deposit Insurance and Credit Guarantee Corporation Act 1961 Explanation: HOPE IT HELPS YOU |
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| 4938. |
Raghu started business and debit bal to his account prepare journal entry |
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Answer» jhgcefjsbsjsvvrkw rksb djsjw |
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| 4940. |
पूर्ण मूल्यांकन खाता क्या है यह कब खोला जाता है तथा कब बंद किया जाता है समझाइए |
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Answer» Prem mulyankan khata kab khola JATA HAI tu kab BAND KIYA jata hai answer |
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| 4941. |
1X5प्रश्न 3- सही विकल्प चुनिये:-(अ) जिस व्यक्ति को उधार माल बेचा जाता है उसे कहते है-(1) देनदार(2) लेनदार(3) उत्पादक(4) उपर्युक्त में से कोई नहीं(ब) लुकास पेसियाली की पुस्तक कौन से सन् में प्रसारित हुई थी-(1) 1464 में(2)1494 में(3)1489 में(4) 1474 में(स) वेतन केभुगतानसे-(1) पूँजी में वृद्धि होगी(2) पूंजी में कमी होगी(3) पूंजी में परिवर्तन नही होगा(4) लाभ में वृद्धि होगी।(छ) अव्यक्तिगत खाते कितने प्रकार के होते है।(1) एक(2) दो3 तीन 4 चार |
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Answer» 1X5 प्रश्न 3- सही विकल्प चुनिये:- (अ) जिस व्यक्ति को उधार माल बेचा जाता है उसे कहते है- (1) देनदार (2) लेनदार (3) उत्पादक (4) उपर्युक्त में से कोई नहीं (ब) लुकास पेसियाली की पुस्तक कौन से सन् में प्रसारित हुई थी- (1) 1464 में (2)1494 में (3)1489 में (4) 1474 में (स) वेतन के भुगतान से- (1) पूँजी में वृद्धि होगी (2) पूंजी में कमी होगी (3) पूंजी में परिवर्तन नही होगा (4) लाभ में वृद्धि होगी। (छ) अव्यक्तिगत खाते कितने प्रकार के होते है। (1) एक (2) दो 3 तीन 4 चार |
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| 4942. |
Rs.FinancialAccounting5.7333. On 31st December 1993, the Trial balance of Janakiraman & Co., was as follows:Rs.Credit BalancesDebit Balances1,00,000Opening Stock40,000 Capital (fixed)15,000Debtors30,000 Creditors7,500Bills Receivable15,000 Bills Payable450Carriage Inward1,500 Miscellaneous ReceiptsWages2,50013,000CommissionSalaries55010,000 Bad debts ProvisionTelephone1,000 Sales1,67,200Repairs350Purchases85,000Cash at Bank17,000Plant & Machinery65,800Furniture9,000Miscellaneous Expenses350Depreciation5,2002,93,2002,93,200The following additional information is to be taken into consideration:(1) Closing Stock amounted to Rs. 50,000.(ii) Bad debts provision to be equal to 1/4% of debtors.(iii) Interest on Capital to be provided for at 2.5% p.a.(iv) Provide outstanding liabilities:-Salaries- Rs. 2,500; Wages - Rs. 1,750; Rent - Rs. 7,500(v) It was discovered that stock sheets as on 31-12-1992 were over cast to theextent of Rs. 1,000.Prepare Trading & Profit & Loss A/c of the firm for the year ended 31st December1993 and a balance Sheet as at that date: |
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Answer» SORRY MARK as BRAINLIEST |
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| 4943. |
2020-2021)0y at 1:29 PMSita, Reeta and Geeta are partners in a firm sharing profits and losses in the ratio of 4 :3 :1.As perthe terms of Partnership Deed on the death of any partner, her share of Goodwill wasto be valued at 50% of the net profits credited to that Partner's Capital Account during thelast three completed years before her death. Sita died on 29th February, 2012. The profits forthe last five years were: 2007—360,000; 2008–397,000; 2009–31,05,000; 2010–30,000 and2011 - 84,000.On the date of Sita's death, Building was found undervalued by 80,000, which was to beconsidered. Calculate amount of Sita's share of Goodwill in the firm and record the adjustmentJournal entries of Goodwill and revaluation of Building. The new profit-sharing ratio betweenReeta and Geeta will be equal.(Delhi 2012 C, Modified)SolutionHW 1 |
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| 4944. |
Journal the following transaction:-1. purchase goods from rita....₹20,000.2. cash paid to rita.....₹10,000.3. goods sold to rita....₹25,000.4. received cash from rohit...₹20,0005. goods purchased from rita.....₹12,0006. cash paid to rita....₹20,000.7. goods sold to rohit.....₹10,000.8. received cash from rohit...₹6000. |
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Answer» TO RITA AC Explanation: |
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| 4946. |
Difference b/w accounting & andsting a |
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Answer» Answer: SEE in google............... Explanation: PLEASE MARK me as BRAINLIEST |
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| 4948. |
On 1st April 2011, X Ltd. purchased a plant for ` 5,00,000. On 1st July 2013, a partof plant purchased for ` 70,000 on 1st April 2011 was sold for ` 40,000 and a freshplant was purchased for ` 1,00,000. Depreciation is provided @20% p.a. on reducingbalance method and books of accounts are closed on 31st December each year.Prepare Plant A/c., Provision for Depreciation A/c and Plant Disposal A/c. |
Answer» On 1st April, 2009, a Company bought Plant and Machinery costing ₹ 68,000. ... The accounts are closed on 31st March every year. ... M3: RS 1,60,000 (INCLUDES the cost of 2 MACHINES) ...I hope my answer useful you |
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| 4949. |
1 poin5. A Machine was bought on 1.1.2017for Rs. 100000. Depreciation isprovided at 15% under straight linemethod. The amount of depreciationfor the first year if the books areclosed on 31st March every year is: *3,5004,7503,750None of these |
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Answer» the AMOUNT of DEPRECIATION is 3,500 |
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| 4950. |
Ramesh, a dealer of Television, sold old furniture to Rafeeque for Rs. 3,000 on credit.Identify the day book to record this transaction. 1. Journal proper2. Cash book3. Sales day book4. Purchase day book |
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Answer» to FURNITURE a/ c |
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