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This section includes 7 InterviewSolutions, each offering curated multiple-choice questions to sharpen your Current Affairs knowledge and support exam preparation. Choose a topic below to get started.
| 1. |
Show journal entry paid rent rs 40000 out of which1/4 of previous year |
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Answer» Answer: The JOURNAL ENTRY for paid RENT is Explanation: Rent a/c...d/b to cash a/c |
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| 2. |
Labh haani niyojan khata ko or ky naam se jana jata h |
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Answer» लाभ और हानि खाते को पीएंडएल रिपोर्ट, आय विवरण, ऑपरेशन का विवरण, वित्तीय परिणामों का विवरण या आय और व्यय विवरण के रूप में भी जाना जाता है। Hope it HELPS, if so MARK it as BRAINLIEST. आशा है कि यह मदद करता है, यदि ऐसा है तो इसे जल्द से जल्द brainliest के लिए चिह्नित करें। |
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| 3. |
Depreciate laptop which was bought on may 01,2013 at 10 % per annum and it's value is 29000. |
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Answer» Answer: 2900 Explanation: DEPRECIATION of COMPUTER is 29000/10% = 2900 |
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| 4. |
A,B and C were carrying on business with the following assets |
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| 5. |
Depreciate computer at 10% per annum and it's value is 29000. |
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Answer» Answer: 2900 Explanation: DEPRECIATION of COMPUTER is 29000/10% = 2900 |
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| 7. |
What is the journal of elephant purchased for cash |
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Answer» To CASH a/c Explanation: |
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| 8. |
What does debit balance of a real account indicates? |
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Answer» Accounting. A debit balance is an account balance where there is a positive balance in the left SIDE of the account. Accounts that normally have a debit balance INCLUDE assets, EXPENSES, and losses. ... A debit balance is a negative CASH balance in a checking account with a bank. |
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| 9. |
Sold goods to udaya subject to 5% trade discount rs 3000 |
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| 10. |
Good loss in theft 5000 which were purchased paying igst @12% from alwar rajasthan |
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Answer» Answer: Loss Due To THEFT A/c Dr. 5600 To IGST 600 Explanation: Here, Purchase = 5,000 IGST = 5,000 * 12% = 600 HOPE IT HELPS |
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| 11. |
Goods costing rupees 10,000 sold for on credit for rupees 9000 |
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Answer» loss. dr. 1000 to SALES a/c. 10000 this MAY be the answer. |
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| 12. |
Write a article on the topic sharing is caring in about 120 to 150 words |
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Answer» Answer: The greatest art of living happily and peacefully is caring others and share ones belonging with others without any hesitation and worry. Caring is a divine property, It is said that Almighty Allah cares a person more than a 70 mothers. So what is care it is nothing then love, passion and kindness for others. One can share only his articles and THINGS if someone finds other lovable. The most caring relation in the world is of PARENTS, who cares most for their offspring. That items and belongings are shared with other which are not available to him/her, and an owner of any property will share only if he/she has a thought that such belonging may also be available to his loved one, so at once he DECIDES to GIVE it for their use. So sharing is only done if someone has a love for others and in other way he will care only if there is some room in his heart for that person. So it is absolutely right that we can share the things if we have no more love for others. Once we are affectionate with others we will readily share our stuffs to others. Sharing brings love, care, passion, tolerance, interdependence, empathy, responsiveness, gratitude and harmony not only among the families but as well as in the societies and countries. We find a person, a society and a country more lovable and friendly if it shares his things and HELPS us in the time of distress and hardship. Thanks |
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| 13. |
Sales goods on credit to Manish rupees 20000 costing 17500 |
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Answer» To sales. 20000 |
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| 15. |
On 1st june ,2013 a bill was drawn by ram on shyam, for three months for rs.20000 which was duly accepted by shayam . The bill was kept by shyam till the date of maturity. On the date of maturity the bill was honoured . Give neccessary journal entries in the books of both parties. |
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Answer» the answer is 20000 at 2013 |
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| 16. |
Received amount from Mr.X against their sale by cash and charge 5% trade discount and 5% cash discount. |
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Answer» Discountallowed a/c Dr. Cd To SALES a/c amt-td |
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| 18. |
On which Side depreciation is recorded in plant account? |
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| 19. |
How to solve consignment practical problems with a working note |
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Answer» onsignment accounting is a term used to refer to an ARRANGEMENT whereby GOODS are sent by their owner (CONSIGNOR) to an agent (consignee) who HOLDS and SELLS the goods on behalf of the owner for a commission. |
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| 20. |
Double Columns Cash BookEnter the following items in double column cash book (Cash & Discount) and balance themoff on 8th January, 2017.2017Jan. 1. Tarun commenced business with cash 10,000He pays 2,300 for goods bought: 500 for furniture purchased;3400 for office equipment.Jan. 2. He pays rent 1,000; pays legal cost 100.Jan. 3. He sells goods for cash 1,800Jan. 4. He sells goods to Nitin on 5 days credit 800.Jan, 5. He pays wages 150; cartage 50Jan. 6. He buys goods for cash 700 and pays a creditor Sunil 425 in settlement of claim of 450.Jan. 7. He receives cash from Nitin allowing discount 20.Jan. 8. He sells goods for cash 3500 |
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Answer» Answer: 1.to capital 10000 to FURNITURE 500 to goods 2300 to office equipment 3400 2.by rent 1000 by legal COST 100 3.to sales 1800 5.by wages150 by CARTAGE 59 6.by purchases 700 by claims of settlement 425 7.to discount 20 8.to sales 3500 |
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| 21. |
Koi bhi ek question with 15 transaction jisse hm GST or trial balance bna ske |
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Answer» Answer: GST is a type of value added TAX and a proposed comprehensive indirect tax levy on manufacture, sale and consumption of goods as well as services at the national level. It will replace all indirect TAXES levied on goods and services by the Indian central and state GOVERNMENTS |
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| 22. |
A piece of furniture costing 1500 has been sold for rs 1200 incurring a loss of rs 300 |
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Answer» Answer: cash a/c DR 1200 loss on sale of FURNITURE a/c dr 300 To furniture a/c 1500 |
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| 23. |
Firms total investment 400000 net profit of last 4 years 65000 50000 80000 70000 the return on net capital employed 12% find value of goodwill if it is based on 4 years purchase of average super profit |
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Answer» average PROFIT =super profit+average profit normal profit=capital enmployed X normalrate of return/100 400000x12/100=48000 average profit=65000+50000+80000+70000/4=66500 super average profit=average profit-normal profit super profit=66500-48000=18500 ANS |
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| 24. |
What is commerce?? |
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Answer» COMMERCE is another word for trade or business, and can mean simply the buying and selling of goods and SERVICES. Some commerce involves HIGH finance and big companies and organisations. hope it helps you☺ |
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| 25. |
Sold goods to arial and company 8000and to wheel and company 7000 |
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Answer» i). Arial and co. Dr. 8000 To sales A/c. 8000 (Being GOODS sold to arial and co)
To sales A/c. 7000 (being goods sold to wheel and co) Compound ENTRY can also be passed for following :- Arial and co. Dr. 8000 Wheel and co. Dr. 7000 To sales A/c. 15000 (being goods sold to Arial and wheel company respectively) |
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| 26. |
Harish started business with cash wht is ledger posting in Harish account |
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| 27. |
Prepare an Accounting Equation from the following: () Started business with cash 50,000 and goods 30,000.(ii) Purchased goods for cash 30,000 and credit from Karan 20,000 (i) Goods costing R 40,000 were sold for R 55,000.iv) Withdrew cash for personal (v) Rent outstanding 2,000. use 10,000. |
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Answer» Explanation: Prepare an Accounting Equation from the FOLLOWING: () Started BUSINESS with cash 50,000 and GOODS 30,000.(ii) Purchased goods for cash 30,000 and credit from Karan 20,000 (i) Goods costing R 40,000 were SOLD for R 55,000.iv) Withdrew cash for PERSONAL (v) Rent outstanding 2,000. use 10,000. |
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| 28. |
State the ratio in which the old partner share accumulated profit; reserves and losseswhich ratio is used to distribute accumulated profits and losses at the time of admission of a new partner |
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Answer» Answer: ACCUMULATED profit :-- OLD RATIO RESERVE :--- old ratio losses: --- old ratio thank you |
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| 30. |
Good sold to saroj in cash costing 6000 and 6500 |
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Answer» to SALES a/c 12500 |
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| 31. |
Sold goods to cash and received cheque |
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Answer» bank a/c. dr to SALES a/c (by goods SOLD and received cheque) |
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| 32. |
Paid wages 500 and carriage 300 |
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Answer» WAGES a/c DR 500 Carriage a/c Dr 300 _____To CASH a/c 800 hope it HELPS.. |
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| 33. |
Journal entryAmount withdrawn from Bank for office use - Rs.15,000 |
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Answer» CASH a/c DR 15000 _____To BANK a/c 15000 hope it HELPS.. |
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| 34. |
Tell me the different types of Account name which is comes under the fundamental? |
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Answer» The answer is 1)REAL account 2)PERSONAL account 3)Nominal account... like the answer and MARK as brainlist.. |
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| 36. |
Distinguish between allocation and apportionment of cost |
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Answer» Answer: Allocation COST.. It is a process of finding a cost of different cost objects such as A branch, A customer etc. APPORTIONMENT cost.. It is used to DIVIDE general overhead which relates to more than one cost CENTER. |
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| 37. |
Discuss the treatment of spoilage and defective in cost accounting |
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Answer» Defective goods arise due to sub-standard materials, BAD supervision, bad planning of PRODUCTION, poor workmanship, inadequate equipment, CARELESS inspection etc. If the defective production is due to ABNORMAL REASONS, the rectification cost is transferred to Costing Profit and Loss Account. |
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| 38. |
What is interpersonal communication???? |
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Answer» Answer: Interpersonal communication is an EXCHANGE of information between two or more people. It is ALSO an area of study and research that SEEKS to understand how humans use verbal and nonverbal cues to accomplish a number of personal and relational GOALS. Explanation: If you think that my answer is CORRECT so follow me and Mark my answer as Bainlist |
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| 39. |
Why is the provision for doubtful depts a liability? |
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Answer» Provision for DOUBTFUL debts is cr. Hope it HELPS. If so Mark it as BRAINLIEST. |
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| 40. |
Difference between w interest subvention and interest subsidy |
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Answer» Answer: Explanation: Interest subvention MEANS REBATE in rate of interest in any priority sector lending whereas interest subsidy means money that the government or any higher department pays to help an organization or any lower department to ENSURE that the cost of services STAY low. |
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| 41. |
Difference between vertical and horizontal balance sheet |
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Answer» Answer: Explanation: A balance sheet is a STATEMENT of assets,LIABILITIES and capital of a business or any organization at a point of time depicting the income and expenditure made by that particular organization. It is prepared in two ways being,vertical and horizontal. A vertical balance sheet is prepared in case when only one balance sheet is required as in the case of a small ENTITY which operates at LOWER scales,whereas horizontal balance sheet is an additional balance sheet prepared by organizations that work on a BIGGER scale having different departments,branches etc. A vertical balance sheet will have an asset and a liability column to depict the state of business but a horizontal balance sheet includes many more data with various branches and information. Horizontal balance is the one prepared to be presented in annual reports and to be signed by auditors whereas vertical is prepared for internal uses. |
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| 42. |
Journalize the following:i. Goods sold to Dilip of the list price of 80,000 ai 10% Trade Discount.Goods retuned by Dilip of the list price of 10,000.iii. Full payment received from Dilip under a cash discount of 5%.iv. Manoj, who owed us *15,000, became bankrupt and 70 paisa in a rupee could breceived from his estates only.V. Goods of 10,000 distributed as free sample.Building purchased of 35,00,000, * 25,000 spent on its registration. All tpayments were made by Cheque. |
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Answer» Answer to your question is in the above ATTACHMENT. The TOTAL of this journal is rs. 36,94,000. |
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| 43. |
Difference between acrrued expenses, outstanding expenses and accounts payable |
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Answer» Answer: accrued expenses are the expenses which are incurred on BUSINESS activities but not yet PAID , they are STILL left to be paid outstanding expenses is incurred on business during its normal course but is due accounts payable are our liability to be paid to our supplier or creditors like short TERM LOANS |
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| 45. |
(300) Minority interest | S4000, ConsolidateureL2UYU, DY13. Following are the balance shcels of H Ltd. & S Ltd, as at 31" December, 2010:LiabilitiesH Ltd.SLtd.Equity share of Rs. 100 each fully paid5,00,0002,00,000General reserve1,00,000Profit & Loss account80,000 (1,00,000)14% Debentures1,00,000Creditors75,00045,0007,55,0002,45,000AssetsFixed Assets3,50,0001,50,000Stock90,00040,000Debtors60,00030,00014% debentures in S Ltd. (at par)60,000Equity Shares in S Ltd. @ Rs. 80 per share1,20,000Bank75,00025,0007,55,0002,45,000H Ltd. acquired 1,500 shares in S Ltd. on 1 May, 2010. The profit and loss account of S Ltd. showed a debit balaof Rs. 1,50,000 on 19 January, 2010. During March, goods costing Rs. 6,000 were destroyed by fire, against whicinsurance company paid Rs. 2,000 only to S Ltd. Creditors of S Ltd. include Rs. 20,000 for goods supplied by Hon which H Ltd. made a profit of Rs. 2,000 Half of the goods were sold out of this. An item, of plant (included inassets) of S ltd. had book value of Rs. 15,000. It was to be revalued at Rs. 20,000 on 15 January, 2010 (ignoredepreciation). Prepare consolidated balance sheet as on 31" December, 2010.I. raator.ansro |
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| 47. |
Does rent and rent outstanding have 2 different ledger acc |
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Answer» Yes because RENT OUTSTANDING is rent DUE but not paid |
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| 48. |
Sold personal car of the proprietor for 150000 against cheque, which was deposited in proprietor personal bank account |
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| 49. |
XYZLS-e d 10.000 shares of 10 each payable 2 on applicationa lement and the remaining balance on call. Applications werefor 9.0 Shares and the shares were duly allotted. All cas deent and call was received. Write the Journal entries in the booksmy and prepare cash bookb |
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Answer» Answer: I can't understand your QUESTION properly..... please POST this question with the HELP of picture |
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| 50. |
Assets appearing in the book but having no value are known as: |
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Answer» FICTITIOUS ASSETS is the answer of UR QUESTION |
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