Saved Bookmarks
| 1. |
15. (a) Mr. Rahul places an order on 1st November, 2018 with M/s Sumit for thesupply of machinery for 3,00,000. On receipt of the order, M/s Sumit purchasesraw material, employs workers, produces machinery and delivers it to Mr.Rahul on 5th November, 2018. Mr. Rahul makes the payment on 10th November,2018. On which date, the revenue is recognized by M/s Sumit and explain therelevant accounting concept.(b) A company purchased goods for 6,00,000 and sold 80% of such goods duringthe year. The market value of remaining goods was 1,00,000. The companyvalued the closing stock at cost. Which principle is being violated ? 4 |
|
Answer» Answer: 2 (C): CLASSIFY the Accounts into Assets, LIABILITIES, Income, Expenditure and Capital (3M) 2 (C): Classify the Accounts into Assets, Liabilities, Income, Expenditure and Capital (3M)(1) Goods A/C 2 (C): Classify the Accounts into Assets, Liabilities, Income, Expenditure and Capital (3M)(1) Goods A/C(2) Wages A/C 2 (C): Classify the Accounts into Assets, Liabilities, Income, Expenditure and Capital (3M)(1) Goods A/C(2) Wages A/C(3) Loan A/C 2 (C): Classify the Accounts into Assets, Liabilities, Income, Expenditure and Capital (3M)(1) Goods A/C(2) Wages A/C(3) Loan A/C(4) Debtors A/C 2 (C): Classify the Accounts into Assets, Liabilities, Income, Expenditure and Capital (3M)(1) Goods A/C(2) Wages A/C(3) Loan A/C(4) Debtors A/C(5) Creditors A/C 2 (C): Classify the Accounts into Assets, Liabilities, Income, Expenditure and Capital (3M)(1) Goods A/C(2) Wages A/C(3) Loan A/C(4) Debtors A/C(5) Creditors A/C(6) Furniture A/C 2 (C): Classify the Accounts into Assets, Liabilities, Income, Expenditure and Capital (3M)(1) Goods A/C(2) Wages A/C(3) Loan A/C(4) Debtors A/C(5) Creditors A/C(6) Furniture A/C(7) Bills Receivable A/C (8) Meena's Capital A/c (9) Drawing A/C 2 (C): Classify the Accounts into Assets, Liabilities, Income, Expenditure and Capital (3M)(1) Goods A/C(2) Wages A/C(3) Loan A/C(4) Debtors A/C(5) Creditors A/C(6) Furniture A/C(7) Bills Receivable A/C (8) Meena's Capital A/c (9) Drawing A/C(10) Discount A/C 2 (C): Classify the Accounts into Assets, Liabilities, Income, Expenditure and Capital (3M)(1) Goods A/C(2) Wages A/C(3) Loan A/C(4) Debtors A/C(5) Creditors A/C(6) Furniture A/C(7) Bills Receivable A/C (8) Meena's Capital A/c (9) Drawing A/C(10) Discount A/C(11) Rent Received A/c (12) Building A/C 2 (C): Classify the Accounts into Assets, Liabilities, Income, Expenditure and Capital (3M)(1) Goods A/C(2) Wages A/C(3) Loan A/C(4) Debtors A/C(5) Creditors A/C(6) Furniture A/C(7) Bills Receivable A/C (8) Meena's Capital A/c (9) Drawing A/C(10) Discount A/C(11) Rent Received A/c (12) Building A/CCANA |
|