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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. |
Net sales a2.Which of the following is a correct example of Secret Reserve?(a) Profit on Sale of Fixed Assetslo) Loss on Sale of Fixed Assets(c) Showing Net Sales in Trading Account (d) Charging excessive depreciation3. Following statement is true or not:"Provision is a charge against the profit; it is made to meet known liability or contingencydetermined.Give one difference between Bill of Exchange and Promissory Note on the basis of 'DRAIdentify the type of error:i dabited to Commission Account instead of Land |
Answer» Answer:Which of the following is a CORRECT EXAMPLE of Secret Reserve?l |
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| 2. |
PARMATMA Ltd. Delhi invoices goods to its Mumbai and Kolkata branch offices at 20% less than the list price which is costplus 50% with instructions that cash sales are to be made at invoice price and credit sales at list price. Opening Stock at Mumbai at its cost ₹ 1,53,600. Goods Sent to Mumbai (at cost to Delhi) ₹ 2,20,000. Cash Sales ₹ 1,49,600, Credit Sales ₹ 2,90,000. Goods returned by Credit Customers to Mumbai ₹ 90,000. Goods returned by Mumbai to Delhi ₹ 72,000. Loss of Goods by fire (at invoice price) ₹ 6,000 against which 80% of cost was recovered from the insurance Company. Loss of Goods at Mumbai through normal pilferage (at list price) ₹ 6,000. Debtors at Mumbai:Opening ₹ 10,000 Cash remitted by MumbaI Branch to HO: ₹ 3,24,870. Discount Allowed to Debtors ₹ 26,730. Goods received by Mumbai till close of the year ₹ 2,54,000. Provision is to be made for discount on Debtors at 15% on prompt payments at year end on the basis of year’s trend of prompt payments. Cash remitted by HO to Branch for Expenses: ₹ 18,000 Branch Expenses still outstanding: ₹ 1,482 Manager is entitled to a commission @ 6% of net profits after charging such commission. Required: Prepare Mumbai Branch Debtors A/c, Mumbai Branch Stock Account, Mumbai Branch Adjustment A/c, Mumbai Branch Expenses Account and Mumbai Branch Profit & Loss A/c under Stock & Debtors Method |
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Answer» Answer: Accounting or ACCOUNTANCY is the MEASUREMENT, processing, and communication of financial and NON financial information about ECONOMIC entities such as businesses and corporations. Organizations in this SECTOR: Institute of Chartered Accountants in England and Wales |
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| 3. |
Distinguish between order of liquidity and order of permanence? |
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Answer» Answer: Permanence can be understood as the inverse of liquidity. Though it is not a REQUIREMENT that a less LIQUID asset should have GREATER permanence, this IDEA HOLDS in most cases. Thus, the Order of permanence is considered to be the reverse of the Order of Liquidity. |
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| 4. |
PARMATMA Ltd. Delhi invoices goods to its Mumbai and Kolkata branch offices at 20% less than the list price which is cost plus 50% with instructions that cash sales are to be made at invoice price and credit sales at list price.Opening Stock at Mumbai at its cost ₹ 1,53,600.Goods Sent to Mumbai (at cost to Delhi) ₹ 2,20,000.Cash Sales ₹ 1,49,600, Credit Sales ₹ 2,90,000.Goods returned by Credit Customers to Mumbai ₹ 90,000.Goods returned by Mumbai to Delhi ₹ 72,000.Loss of Goods by fire (at invoice price) ₹ 6,000 against which 80% of cost was recovered from the insurance Company.Loss of Goods at Mumbai through normal pilferage (at list price) ₹ 6,000.Debtors at Mumbai:Opening ₹ 10,000Cash remitted by MumbaI Branch to HO: ₹ 3,24,870.Discount Allowed to Debtors ₹ 26,730.Goods received by Mumbai till close of the year ₹ 2,54,000.Provision is to be made for discount on Debtors at 15% on prompt payments at year end on the basis of year’s trend of promptpayments.Cash remitted by HO to Branch for Expenses: ₹ 18,000Branch Expenses still outstanding:₹ 1,482Manager is entitled to a commission @ 6% of net profits after charging such commission.Required: Prepare Mumbai Branch Debtors A/c, Mumbai Branch Stock Account, Mumbai Branch Adjustment A/c, MumbaiBranch Expenses Account and Mumbai Branch Profit & Loss A/c under Stock & Debtors Method. |
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| 5. |
Rectify the following errors by passing entriePurchase Book was overcast by Rs.1.200 |
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Answer» SUSPENSE a/c. Dr. 1,200 To purchase a/c. 1,200 Explanation: above is the rectification entry as the purchase has DEBIT balance it is overcasted so credit purchase ACCOUNT |
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| 6. |
3.01.7.2016 को, एक्म ने 20,00,000 रुपये में वाई से मशीन खरीदी। भुगतानकिया जाना था- 20% अग्रिम और शेष ₹ 5,00,000 की चार वार्षिक समान किस्तों मेंप्रत्येक वर्ष के अंत में भुगतान किया जाना था। एबम, मुल लागत पर 201 प्रति की दर सेमूल्यह्रास बट्टे खाते में डालता है। एक्स द्वारा तीसरी किस्त का भुगतान नहीं किए जाने पर,वाई एक्स को ई-मेल करता है कि 01.04.2020 को वह 3 मशीनों को वापिस जगाऔर निम्रलिखित में से किसी के लिए ऋण की अनुमति देगाः(1) डब्ल्यूडीवी आधार पर 40 प्रतिशत वार्षिक मूल्यह्रास के आधार पर मशीनों का मूल्य।(ii) 3 मशीनों के लिए भुगतान की गई राशि में से 50 प्रतिशत कम करके।एक्स ने कहा कि ठीक है। वाई 01.04.2020 के ई-मेल के अनुसार मशीनों को वापिस लेलेता है। वाई ने इन मशीनों की मरम्मत पर ₹ 12,000 खर्च करता है और 30जून2020 को इनमें से एक मशीन को ₹ 1,40,000 में बेच देता है। एकस दिनीय वर्ष कीअपने लेखांकन वर्ष के रूप लेता है।आवश्यकताः एक्म के बही खाते में मशीनरी खाता और विक्रता का किराया खाता और वार्डके बही खाते क्रेता का किराया खाता और माल पुनः प्राति खाता तैयार करें। इसके अलावा31 मार्च, 2020 को एक्स की बैलेंस शीट में किराया खरीद में संबंधित मदों को दिखाए।[4+4+4+4+2.33=18.33 461 |
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Answer» jbfkdkcfdcdodhk0kus8uxvfodvr8jebfkxoiehrofof |
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| 7. |
Three Members died without paying an annual subscription of ₹ 200 each p.a.for the previous year and current year. Cash Purchasesof Sports Materials amounted to 20% of Total Purchases. Depreciate Sports [email protected]% p.a. At 31.3.2020, Rates & taxeswere prepaid to the following 31 Jan., yearly charge ₹ 6,000. A quarter charge for telephone is outstanding, the amount accrued ₹6,000. The charge for each quarter is the same.1/5 of the value of Glass cutlery etc. is to be written off in the year of purchases and1/2 of the balance in each of the next two years. Of the stock of glass, cutlery, etc. as of 1.4.2019 one half was a year old and theother half two years old |
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Answer» ANSWER: BHAI MERA bhi same EXAM HAI me 9 5 6 0 6 1 8 1 6 6 Explanation: |
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| 8. |
.PARMATMA Ltd. Delhi invoices goods to its Mumbai and Kolkata branch offices at 20% less than the list price which is costplus 50% with instructions that cash sales are to be made at invoice price and credit sales at list price. Opening Stock at Mumbai at its cost ₹ 1,53,600. Goods Sent to Mumbai (at cost to Delhi) ₹ 2,20,000. Cash Sales ₹ 1,49,600, Credit Sales ₹ 2,90,000. Goods returned by Credit Customers to Mumbai ₹ 90,000. Goods returned by Mumbai to Delhi ₹ 72,000. Loss of Goods by fire (at invoice price) ₹ 6,000 against which 80% of cost was recovered from the insurance Company. Loss of Goods at Mumbai through normal pilferage (at list price) ₹ 6,000. Debtors at Mumbai:Opening ₹ 10,000 Cash remitted by MumbaI Branch to HO: ₹ 3,24,870. Discount Allowed to Debtors ₹ 26,730. Goods received by Mumbai till close of the year ₹ 2,54,000. Provision is to be made for discount on Debtors at 15% on prompt payments at year end on the basis of year’s trend of prompt payments. Cash remitted by HO to Branch for Expenses: ₹ 18,000Branch Expenses still outstanding: ₹ 1,482Manager is entitled to a commission @ 6% of net profits after charging such commission. |
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Answer» SORRY DEAR I don't UNDERSTAND this QUESTION |
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| 9. |
Old-new=? . a. sacrificing ratio . b. gaining ratio . c. new ratio .d.old ratio |
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Answer» (a) OLD RATIO-new ratio = SACRIFICING ratio . |
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| 10. |
Why MIUI UPDATES ARE BAD? |
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Answer» There are so many things which I REALLY HATE about MiUi. Updates:- XIAOMI updates only the MIUI and they NEGLECT the OS updates. SECURITY Patch Updates:- I think 90% of the people who use MiUi doesn't know about the security updates because we don't get these updates. Icons:- These icons are similar to the iPhones.
I hope it helps you. Please mark me brainliest |
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| 11. |
Depression is non-cash and non-operating expense which is to be provided for whether where are profits/loses |
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Answer» DEPRECIATION is NON cash expenses and which is charged to PROFIT and loss account |
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| 12. |
PARMATMA Ltd. Delhi invoices goods to its Mumbai and Kolkata branch offices at 20% less than the list price which is costplus 50% with instructions that cash sales are to be made at invoice price and credit sales at list price.Opening Stock at Mumbai at its cost ₹ 1,53,600.Goods Sent to Mumbai (at cost to Delhi) ₹ 2,20,000.Cash Sales ₹ 1,49,600, Credit Sales ₹ 2,90,000.Goods returned by Credit Customers to Mumbai ₹ 90,000.Goods returned by Mumbai to Delhi ₹ 72,000.Loss of Goods by fire (at invoice price) ₹ 6,000 against which 80% of cost was recovered from the insurance Company.Loss of Goods at Mumbai through normal pilferage (at list price) ₹ 6,000.Debtors at Mumbai:Opening ₹ 10,000Cash remitted by MumbaI Branch to HO: ₹ 3,24,870.Discount Allowed to Debtors ₹ 26,730.Goods received by Mumbai till close of the year ₹ 2,54,000.Provision is to be made for discount on Debtors at 15% on prompt payments at year end on the basis of year’s trend of promptpayments.Cash remitted by HO to Branch for Expenses: ₹ 18,000Branch Expenses still outstanding:₹ 1,482Manager is entitled to a commission @ 6% of net profits after charging such commission.Required: Prepare Mumbai Branch Debtors A/c, Mumbai Branch Stock Account, Mumbai Branch Adjustment A/c, MumbaiBranch Expenses Account and Mumbai Branch Profit & Loss A/c under Stock & Debtors Method |
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| 13. |
GOODS WORTH ₹2000 LOST BY THEFT . JOURNALISE THIS ACCOUNT. PLEASE HELP . |
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Answer» I don't KNOW the format. But it's not a BIG AMOUNT enough to be reported seriously. But you can write that the guy who STOLE got punishment. You could tell the amount 2000 rupees with little sarcassm. |
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| 14. |
Match the pairsmatch the pairs |
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Answer» import trade : buying goods from other country registration: first STEP to import enterpot trade:no restriction letter of CREDIT: creditworthiness of importer Explanation: I hope this is correct |
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| 15. |
4.PARMATMA Ltd. Delhi invoices goods to its Mumbai and Kolkata branch offices at 20% less than the list price which is costplus 50% with instructions that cash sales are to be made at invoice price and credit sales at list price. Opening Stock at Mumbai at its cost ₹ 1,53,600. Goods Sent to Mumbai (at cost to Delhi) ₹ 2,20,000. Cash Sales ₹ 1,49,600, Credit Sales ₹ 2,90,000. Goods returned by Credit Customers to Mumbai ₹ 90,000. Goods returned by Mumbai to Delhi ₹ 72,000. Loss of Goods by fire (at invoice price) ₹ 6,000 against which 80% of cost was recovered from the insurance Company. Loss of Goods at Mumbai through normal pilferage (at list price) ₹ 6,000. Debtors at Mumbai:Opening ₹ 10,000 Cash remitted by MumbaI Branch to HO: ₹ 3,24,870. Discount Allowed to Debtors ₹ 26,730. Goods received by Mumbai till close of the year ₹ 2,54,000. Provision is to be made for discount on Debtors at 15% on prompt payments at year end on the basis of year’s trend of prompt payments. Cash remitted by HO to Branch for Expenses: ₹ 18,000Branch Expenses still outstanding:₹ 1,482Manager is entitled to a commission @ 6% of net profits after charging such commission. |
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Answer» I don't know ________________❤️❤️❤️❤️❤️❤️ |
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| 16. |
Accounting assumption |
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Answer» sooo ez Accounting ASSUMPTIONS defined as rules of ACTION or conduct which are DERIVED from experience and practice, and when they prove useful, they BECOME accepted principles of accounting. |
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| 17. |
depreciation is non cash and non operating expenses which is to be provided for whether there are profits /losses.this statement are true and false.with reason answer |
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Answer» Answer: False. Depreciation is non cash expense but it is charged to profit and LOSS account as operating expense which is used for the business purpose . therefore the given statement is false Explanation: Depreciation is one of the few EXPENSES for which there is no outgoing cash flow. Cash is spent during the acquisition of the fixed asset, so there is no need to expend any more cash as PART of the depreciation process unless the asset is being upgraded. So, depreciation is a non-cash COMPONENT of operating expenses. |
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| 18. |
4.PARMATMA Ltd. Delhi invoices goods to its Mumbai and Kolkata branch offices at 20% less than the list price which is costplus 50% with instructions that cash sales are to be made at invoice price and credit sales at list price.Opening Stock at Mumbai at its cost ₹ 1,53,600.Goods Sent to Mumbai (at cost to Delhi) ₹ 2,20,000.Cash Sales ₹ 1,49,600, Credit Sales ₹ 2,90,000.Goods returned by Credit Customers to Mumbai ₹ 90,000.Goods returned by Mumbai to Delhi ₹ 72,000.Loss of Goods by fire (at invoice price) ₹ 6,000 against which 80% of cost was recovered from the insurance Company.Loss of Goods at Mumbai through normal pilferage (at list price) ₹ 6,000.Debtors at Mumbai:Opening ₹ 10,000Cash remitted by MumbaI Branch to HO: ₹ 3,24,870.Discount Allowed to Debtors ₹ 26,730.Goods received by Mumbai till close of the year ₹ 2,54,000.Provision is to be made for discount on Debtors at 15% on prompt payments at year end on the basis of year’s trend of promptpayments.Cash remitted by HO to Branch for Expenses: ₹ 18,000Branch Expenses still outstanding:₹ 1,482Manager is entitled to a commission @ 6% of net profits after charging such commission.Required: Prepare Mumbai Branch Debtors A/c, Mumbai Branch Stock Account, Mumbai Branch Adjustment A/c, MumbaiBranch Expenses Account and Mumbai Branch Profit & Loss A/c under Stock & Debtors Method. |
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| 19. |
Distinguish between Order of Liquidity and Order of Permanence. |
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Answer» Answer: Permanence can be UNDERSTOOD as the INVERSE of LIQUIDITY. Though it is not a requirement that a less liquid asset should have GREATER permanence, this idea holds in most cases. Thus, the Order of permanence is considered to be the REVERSE of the Order of Liquidity. |
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| 20. |
(a) Under what situations Assets Backing Methodof valuation of shares is applicable ? |
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Answer» Answer: a company is a CAPITAL-intensive company and INVESTED a large amount in capital assets or if the company has a large volume of capital work in progress then asset-based approach can be used. This method is also APPLICABLE for valuing the SHARES during amalgamation, absorption or liquidation of COMPANIES |
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| 21. |
(i) Change in Method of Depreciation is regarded as change in Accounting Policy of the entity. |
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Answer» Explanation: A CHANGE in accounting policy in RELATION to DEPRECIATION charge will occur if entity changes its policy WHETHER to depreciate the asset or not. Change from historical cost BASIS to revaluation basis is a change in accounting policy. |
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| 22. |
Machinery costing Rs50000 was sold 7000 |
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Answer» Answer: The person GET lose because he SOLD a MACHINE of Rs 50000 in Rs 7000. |
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| 23. |
Value of reputation of the firm is |
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Answer» HI I am not SURE if I am going to be in the office TOMORROW and will be back in the office tomorrow and will be back in the office tomorrow and will be back in the office tomorrow and will be back in the office tomorrow and will yyyyyyyyyy |
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| 24. |
B) AATMA Ltd. manufactures a product ‘OM’ using a raw material M1.The company took Bank Overdraft at an interest rate of15% p.a. specifically for the purpose of purchasing 10,000 kg. of material M1 at ₹ 200 per kg. The purchase price includes GST ₹20 per kg., in respect of which full credit is admissible. Freight, loading and unloading charges incurred amounted to ₹ 81,600. Interest on such Bank Overdraft amounted to ₹ 50,000. Normal Transit Loss is 2%. The company actually received 9,760 kg. and consumed 9,500 kg. One unit of Finished product requires five units of Raw Material. Direct Labour Cost amounted to ₹4,56,000,Direct Overheads Cost amounted to ₹ 1,14,000.Total Fixed Overheads for the year were ₹ 2,40,000 on normal capacity of 20,000 units of Finished Goods.During the year Sales of product ‘OM’ were ₹ 15,00,000 @ ₹ 1,500.There were no opening inventories.With reference to AS 2 “Valuation of Inventory”,Calculate the amount of Abnormal Loss (if any),Closing Inventory of Finished Goods and Raw Material if (i) Finished units can be sold @ ₹ 1,600 subject to payment of 10% brokerage on selling price., Replacement Cost of Raw Material is ₹ 180 per kg. |
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Answer» ⠀ ⠀⠀⠀⠀⠀⠀Bile Because all other JUICES are a PART of our digestion which HELPS in digestion whereas bile isn't a help in digestion. ▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅ |
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| 25. |
AATMA Ltd. manufactures a product ‘OM’ using a raw material M1.The company took Bank Overdraft at an interest rate of15% p.a. specifically for the purpose of purchasing 10,000 kg. of material M1 at ₹ 200 per kg. The purchase price includes GST ₹20 per kg., in respect of which full credit is admissible. Freight, loading and unloading charges incurred amounted to ₹ 81,600.Interest on such Bank Overdraft amounted to ₹ 50,000. Normal Transit Loss is 2%. The company actually received 9,760 kg. andconsumed 9,500 kg. One unit of Finished product requires five units of Raw Material. Direct Labour Cost amounted to ₹4,56,000,Direct Overheads Cost amounted to ₹ 1,14,000.Total Fixed Overheads for the year were ₹ 2,40,000 on normal capacityof 20,000 units of Finished Goods.During the year Sales of product ‘OM’ were ₹ 15,00,000 @ ₹ 1,500.There were no openinginventories.With reference to AS 2 “Valuation of Inventory”,Calculate the amount of Abnormal Loss (if any),Closing Inventoryof Finished Goods and Raw Material if(i) Finished units can be sold @ ₹ 1,600 subject to payment of 10% brokerage on selling price., Replacement Cost of RawMaterial is ₹ 180 per kg |
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Answer» MARK my answer as BRAINLIEST |
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| 26. |
Depreciation is non-cash and non- operating expense which is to be provided for whether there are profits/losses true & false with reason give me answer |
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Answer» Answer: False. DEPRECIATION is non cash EXPENSE but it is charged to profit and LOSS ACCOUNT as operating expense which is used for the business purpose . THEREFORE the given statement is false Explanation: Depreciation is one of the few expenses for which there is no outgoing cash flow. Cash is spent during the acquisition of the fixed asset, so there is no need to expend any more cash as part of the depreciation process unless the asset is being upgraded. So, depreciation is a non-cash component of operating expenses. |
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| 27. |
:Divyapreet Kaur11:50 AMM/s Mehta and sons earn an averageprofit of rupees 60,000 with a capital ofrupees 4,00,000. The normal rate ofreturn is 10%. Using capitalization ofsuper profits method calculate thevalue the goodwill of the firm.Say something |
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Answer» Divyapreet Kaur 11:50 AM M/s Mehta and sons EARN an average profit of rupees 60,000 with a capital of rupees 4,00,000. The NORMAL rate of return is 10%. Using CAPITALIZATION of super profits METHOD calculate the value the goodwill of the firm. Say something |
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| 28. |
AnswrJoin / LoginDepreciation is non-cash and non -operating expense which is to be provide for whether there are profit /losses true or false?with reason |
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Answer» Answer: Explanation: |
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| 29. |
.PARMATMA Ltd. Delhi invoices goods to its Mumbai and Kolkata branch offices at 20% less than the list price which is costplus 50% with instructions that cash sales are to be made at invoice price and credit sales at list price.Opening Stock at Mumbai at its cost ₹ 1,53,600.Goods Sent to Mumbai (at cost to Delhi) ₹ 2,20,000.Cash Sales ₹ 1,49,600, Credit Sales ₹ 2,90,000.Goods returned by Credit Customers to Mumbai ₹ 90,000.Goods returned by Mumbai to Delhi ₹ 72,000.Loss of Goods by fire (at invoice price) ₹ 6,000 against which 80% of cost was recovered from the insurance Company.Loss of Goods at Mumbai through normal pilferage (at list price) ₹ 6,000.Debtors at Mumbai:Opening ₹ 10,000Cash remitted by MumbaI Branch to HO: ₹ 3,24,870.Discount Allowed to Debtors ₹ 26,730.Goods received by Mumbai till close of the year ₹ 2,54,000.Provision is to be made for discount on Debtors at 15% on prompt payments at year end on the basis of year’s trend of promptpayments.Cash remitted by HO to Branch for Expenses: ₹ 18,000Branch Expenses still outstanding:₹ 1,482Manager is entitled to a commission @ 6% of net profits after charging such commission.Required: Prepare Mumbai Branch Debtors A/c, Mumbai Branch Stock Account, Mumbai Branch Adjustment A/c, MumbaiBranch Expenses Account and Mumbai Branch Profit & Loss A/c under Stock & Debtors Method. |
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Answer» DUNNO the answer |
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| 30. |
What is the solution? |
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Answer» Answer: Solution, in chemistry, a homogenous mixture of two or more substances in relative amounts that can be VARIED continuously up to what is called the LIMIT of solubility. The term solution is commonly APPLIED to the liquid state of matter, but SOLUTIONS of GASES and solids are possible. Explanation: I HOPE THIS IS HELPFUL FOR YOU |
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| 31. |
Prepare adjusting journal entries for the year ended Dec31, 2011 for each of the independent situation in (a) to (f). Assume that the original entries have already been done. You only need to prepared the period ending adjusting entries:b. The prepaid insurance account had $14,000 debit balance at Dec31, 2011, before adjusting for the costs of any expired coverage. An analysis of the company’s insurance policies showed $2080 of unexpired insurance remaining.c. The Office Supplies account had a $600 debit balance on January 1, 2011; $5,360 of office supplies were purchased during the year; and the December31, 2011, count showed that $708 of supplies are on handd. Two-thirds of the work for a $30,000 fee received in advance has now been performede. The Prepaid Insurance account had an $11,200 debit balance at December 31, 2011, before adjusting for the costs of any expired coverage. An analysis of the company’s insurance policies showed that $9,200 of coverage had expired.f. Wages of $8,000 have been earned by workers but not paid as of December 31, 2011g. Record the January 6, 2012, payment of $20,000 in wages, inclusive of the $8,000 December31, 2011 accrued in (f) above. |
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Answer» Answer: E. The Prepaid Insurance account had an $11,200 debit balance at December 31, 2011, before ADJUSTING for the costs of any expired COVERAGE. An ANALYSIS of the company’s insurance policies showed that $9,200 of coverage had expired |
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| 32. |
I need the correct answer for this question? |
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| 33. |
Patners current account may have debit or credit balance |
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Answer» Answer: Normally Partner's Current Account has a Credit BALANCE but, if a partner has withdrawn more than his or her share of profits, then it will have a Debit Balance. The credit balances of Partner's Current Account are SHOWN on the LIABILITIES Side of Balance Sheet, as much of amount due to them..I HOPE it helps u ✌️ |
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| 34. |
Differentiate between order of liquidity and order of permanance |
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Answer» Answer: Permanence can be understood as the INVERSE of liquidity. THOUGH it is not a requirement that a less liquid asset should have greater permanence, this idea HOLDS in most cases. Thus, the ORDER of permanence is considered to be the reverse of the Order of Liquidity. |
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| 35. |
net profit is reflected in high cash balances and net loss is reflected in lower net worth. reason for this? |
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Answer» भपमफययठथठथठथठथडथडथथड |
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| 36. |
A. While comparing Ranjan’s Cash Book with the Bank Statement of his overdraft account For themonth of April, 2019, following were noticed:(a) Cash Book showed an overdraft of ₹ 75,000.(b) The payment side of the Cash Book had been undercast by ₹ 15,000.(c) A cheque for ₹ 9,500 drawn on his Savings Account has been shown in the books as drawn on his Current Account. Cheques amounting to ₹ 35,000 drawn and entered in the Cash Book have not been presented.(d) Cheques amounting to ₹ 50,000 sent to the bank for collection, which though entered in the Cash Book have not been credited by the bank.(e) Bank charges of ₹ 600 as per Bank Statement have not been recorded in the Cash Book. These bank charges were reversed by the bank on 10th April, 2019.(f) Interest from investment amounting to ₹ 35,000 have been received directly by the bank and not entered in the Cash Book.(g) Cheque of ₹ 10,000 dated 10th May, 2019 issued to Ramesh & Co. was dishonoured by the bank being post-dated. It was also not recorded in the books of account yet. You are required to prepare Bank Reconciliation Statement on 30th April, 2019. |
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Answer» THIS IS THE ANSWER. HOPE IT HELPS YOU. MARK IT AS THE BRAINLIEST ANSWER. |
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| 37. |
if a person pays a down payment of 40000 on a car and then pays 18 annual payments of 10000. at the interest of 10% on unpaid amount then what the car cost the person. |
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| 38. |
depreciation is non-cash and non operating expense which is to be provided for whether there are profit/losses |
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Answer» Answer: False. Depreciation is non cash expense but it is charged to profit and loss account as operating expense which is used for the business PURPOSE . therefore the given statement is false Explanation: Depreciation is one of the few EXPENSES for which there is no outgoing cash flow. Cash is spent during the acquisition of the fixed asset, so there is no NEED to expend any more cash as part of the depreciation process unless the asset is being upgraded. So, depreciation is a non-cash COMPONENT of operating expenses.
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| 39. |
1(a) State with reason whether the following statements are true or false (No Marks shall be awarded without validreason): [2 x 5 =10 Marks](1) Change in Method of Depreciation is regarded as change in Accounting Policy of the entity.(ii) Depreciation is non-cash and non-operating expense which is to be provided for whether there are profits/losses. .(iii) Net Profit is reflected in higher cash balances and net loss is reflected in lower net worth.(iv) Contingent liability is an ascertained liability but its amount and dry date are indeterminate.(v) Fundamental Assumptions are always required to be disclosed in the financial statements. |
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| 40. |
Explain the relevant accounting assumption or principle which is an exception to the Full Disclosure Principle. |
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Answer» CONVENTION of materiality Hope it HELPS you! MARK it as the BRAINLIEST ANSWER. |
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| 41. |
Net Profit is reflected in higher cash balances and net loss is reflected in lower net worth. |
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Answer» yyf8f6cfjnx no worries if you can't get to see you in the MORNING to be a and soil NEW word of the BEST way for you very much a of |
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| 42. |
depreciation is non-cash and non operating expense which is to be provided for whether there are profit/loses |
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Answer» False. Depreciation is non cash EXPENSE but it is charged to PROFIT and loss account as operating expense which is used for the business purpose . therefore the given statement is false Explanation: Depreciation is ONE of the few expenses for which there is no outgoing cash flow. Cash is spent during the ACQUISITION of the fixed asset, so there is no need to expend any more cash as part of the depreciation process unless the asset is being upgraded. So, depreciation is a non-cash component of operating expenses. |
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| 43. |
प्रासियांभुगतानबैंक में बकाया शेष से (पासबुक 14,68 किराये के लिए (वर्ष 2018-11,20,0के अनुसार),6002019 के लिए ₹30,000100सहित)प्रवेश शुल्क से:11, 20,000(वर्ष 2018-2019 के लिए₹20,000 सहित)30 जून, 2020 को समाप्त 12,000हए वर्ष के लिए बीमाप्रीमियम के लिए2,40,0जीवन बीमासब्सक्रिप्शन सेसदस्यता 4,00, टूर्नामेंट खर्च के लिए000भवन निर्माण पर व्यय के लिए 4,00,0मम्मक्रिप्शन से (वर्ष 2018-12,97,2019 के लिए ₹ 17,000/800और वर्ष 2020-2021 के लिए₹10,400 सहित)सामान्य दान और पैतृक संपत्ति 2,40,से000खेल सामग्री के आपूर्तिकर्ता के 88,000लिएटूर्नामेंट के लिए दान से56,00 खेल सामग्री की खरीद के लिए 20,0000टूर्नामेंट की टिकट बिक्री से 2,20, समाचारपत्रों और पत्रिकाओं की 58,000प्राप्तियों से000खरीद के लिए से (किताबों केलिए ₹ 38,000 सहित)भवन के लिए दान से5,60, खेल उपकरणों की खरीद के 1,20,0000लिए00(1.10.2019 कोनिवेश पर 8% के व्याज से4,8008% के निवेशों के लिए 2,40,000(1.10.2019 को किएगए)किराये और कर के लिए6,000पुरानी खेल सामग्री की बिक्री से 200(बही-मूल्य १ 1,000)30,000|1.4.2019 को राने खेल 16,80 टेलिफोन प्रभारों के लिएउपकरणों की बिक्री से ( बही-10मूल्य ₹ 24,000) |
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Answer» Answer: GUD afternoon ❤️
com.e FAST gir.ls pus,st+bobs =se,xx VIDEOS on demand +pen,nniiss+ everything you want jay-zjbg-fvc gay stay away organize ur own don't come in mine meeeeting |
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| 44. |
S Account in the books of X and Hire Purchaser's Account and GoodsICU Account in the books of Y Also Show the Items related to Hire Purchase in the Balance Sheet of X as at 31stMarch, 2020. (4+4+4+4+2.33=18.33 Marks]4.PARMATMA Ltd. Delhi invoices goods to its Mumbai and Kolkata branch offices at 20% less than the list price which is costplus 50% with instructions that cash sales are to be made at invoice price and credit sales at list price.Opening Stock at Mumbai at its cost * 1,53,600.Goods Sent to Mumbai (at cost to Delhi) 2,20,000.Cash Sales 1,49,600, Credit Sales < 2,90,000.Goods returned by Credit Customers to Mumbai 90,000.Goods returned by Mumbai to Delhi 2 72,000.Loss of Goods by fire (at invoice price) 6,000 against which 80% of cost was recovered from the insurance Company.Loss of Goods at Mumbai through normal pilferage (at list price) 6,000.Debtors at Mumbai:Opening 10,000Cash remitted by Mumbal Branch to HO: 3 3,24,870.Discount Allowed to Debtors * 26,730.Goods received by Mumbai till close of the year 3 2,54,000.Provision is to be made for discount on Debtors at 15% on prompt payments at year end on the basis of year's trend of promptpayments.Cash remitted by HO to Branch for Expenses:18,000Branch Expenses still outstanding:* 1.482Manager is entitled to a commission @ 6% of net profits after charging such commission.Required: Prepare Mumbai Branch Debtors A/c, Mumbai Branch Stock Account, Mumbai Branch Adjustment A/c, MumbaiBranch Expenses Account and Mumbai Branch Profit & Loss A/c under Stock & Debtors Method. |
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Answer» Answer: We KNOW that the basis for accounting in the BOOKS of the hire PURCHASER is the total cash price. |
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| 45. |
Depreciation is non-cash and non- operating expense which is to be provided for whether there are profits/losses. |
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Answer» Answer: You MAY notice that the speed of the whirling water gradually4. Is the whirling of water continuing?Stop STIRRING and wait for some TIME. What happens?You may notice that the speed of the whirling water graduallyYou may notice that the speed of the whirling water graduallyYou may notice that the speed of the whirling water graduallyYou may notice that the speed of the whirling water graduallyYou may notice that the speed of the whirling water graduallyYou may notice that the speed of the whirling water graduallyYou may notice that the speed of the whirling water graduallyYou may notice that the speed of the whirling water graduallyYou may notice that the speed of the whirling water gradually4. Is the whirling of water continuing?Stop stirring and wait for some time. What happens?Stop stirring and wait for some time. What happens?Stop stirring and wait for some time. What happens?Stop stirring and wait for some time. What happens?Stop stirring and wait for some time. What happens? |
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| 46. |
1. What is a Cash flow statement? |
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Answer» Explanation: In FINANCIAL accounting, a cash FLOW statement, also known as statement of cash flows, is a financial statement that shows how changes in balance sheet accounts and INCOME affect cash and cash EQUIVALENTS, and breaks the ANALYSIS down to operating, investing, and financing activities. |
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| 47. |
Paid transport charges Rs. 25,000 @8% Gst.calculate cast & Såst. |
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Answer» Answer: 8/100 × 25000 250×8 2000 is the answer Mark as BRAINLIEST and GIVE THANKS |
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| 48. |
Explain the relevant accounting assumption or principle which is an exception to Full Disclosure Principle. |
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Answer» FULL diclosure ::the amount which is carrying every amount of CREDIT and debit is KNOW as full Disclosure |
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| 49. |
1(a) State with reason whether the following statements are true or false (No Marks shall be awarded without validreason): [2 x 5 =10 Marks](i) Change in Method of Depreciation is regarded as change in Accounting Policy of the entity.(ii) Depreciation is non-cash and non- operating expense which is to be provided for whether there are profits/losses.(iii) Net Profit is reflected in higher cash balances and net loss is reflected in lower net worth.(iv) Contingent liability is an ascertained liability but its amount and due date are indeterminate.(v) Fundamental Assumptions are always required to be disclosed in the financial statements.(b) Explain the relevant accounting assumption or principle which is an exception to Full Disclosure Principle. |
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| 50. |
net profit is reflected in the higher cash balances and net loss is reflected in the lowernet worth state true or false with reason |
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Answer» BEAUTIFUL BANGLADESH SCHOOL of MEDICINE UNIVERSITY of medicine University of medicine University of medicine University of medicine University of medicine University of |
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