Fill in the blanks:(i) Net profit is transferred to ________(ii) If

1.	Fill in the blanks:(i) Net profit is transferred to ________(ii) If cash/goods withdrawn by proprietor for domestic use, it is called __________(iii) Payment made in advance are shown on ___________ side of Balance Sheet.(iv) Royalty on production is debited to ___________ A/c of final A/c.(v) General Expenses are recolored to the debit side of ___________ A/c when Office expenses, Sundry expenses, or General expenses are given in the trial balance.
Answer» (i) Balance Sheet Capital A/c (ii) Drawings (iii) Asset (iv) Trading (v) Trading

Fill in the blanks:(i) Net profit is transferred to __(ii) If cash/goods withdrawn by proprietor for domestic use, it is called (iii) Payment made in advance are shown on _ side of Balance Sheet.(iv) Royalty on production is debited to _ A/c of final A/c.(v) General Expenses are recolored to the debit side of _______ A/c when Office expenses, Sundry expenses, or General expenses are given in the trial balance.

Answer»

(i) Balance Sheet Capital A/c

(ii) Drawings

(iii) Asset

(iv) Trading

(v) Trading