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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. |
139. Revenue from Operations ? 4,00,000; Gross Profit Ratio 25%; Operating Ratio 90%. Non-operatingExpenses * 2,000; Non-operating Income * 22,000. Calculate Net Profit Ratio |
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Answer» Explanation: Net Profit=OPERATING Profit + Non Operating Income - Non Operating Expenses =40,000+22,000- 2,000=RS 60,000 Operating Profit Ratio=100-Operating Ratio =100-90 = 10% Operating Profit=4,00,000x10%=Rs 40,000 Net Profit Ratio = net profit / REVENUE from operations 60000 / 400000 x 100 = 15% hope it will help you bro ☺️ |
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| 2. |
Bussiness commenced with cash ₹100000 write in journal entry form |
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Answer» JOURNAL ENTRY:- To Capital a/c. 10,00,000 (being BUSINESS COMMENCED with cash) I hope this will help you friend. |
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| 3. |
A machinary was purchased for rs 54000 on 1st June 2017, another machinery was purchased on 1.1.2018 for rs 900000, On 31.12.2018,1st machinery was sold for rs 25000 profit, and on 31st March 2020 2nd machinery was sold for rs 40000 loss On book value depreciation is provided at the rate of 10% Per Annum company provide depreciation as per straight line method, also prepare machinery account upto 31st March 2020plz accurate answers |
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Answer» Quick-Print Limited is a clothing manufacturing COMPANY that specializes in producing commemorative shirts immediately following major sporting events like the World Cup, Asian Games etc. The company has been contracted to produce garments for the winning cricket team in the coming World Cup. The items produced include two types of sweatshirts, one with silk screen printing on the front (F) and one with print on both back and front SIDES (B/F), and two types of T-shirts of the same configuration (F and B/F). The company has to complete all production within 48 hours after the game, at which time a TRAILER truck will pick up the shirts. The company will work around the clock. The truck has enough capacity to accommodate 1,400 standard-size boxes. A standard-size box holds 12 garments. The company has budgeted Rs. 125,000 for the production run. The resource requirements, unit costs, and profit for each type of shirt are shown in the following table. Processing Time (hr) Cost (Rs) Profit (Rs) Sweatshirt–F 0.22 36 90 Sweatshirt–B/F 0.36 48 126 T-shirt–F 0.06 26 44 T-shirt–B/F 0.32 38 62 The company wants to know how many units of each type of shirt to produce in order to maximize the total profit. Formulate the above problem as a LINEAR Program. NOTE: Clearly define the variables and label each constraint. |
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| 4. |
A machinery was purchased for rs 54000 on 1st June 2017, another machinery was purchased on 1.1.2018 for rs 900000, On 31.12.2018,1st machinery was sold for rs 25000 profit, and on 31st March 2020 2nd machinery was sold for rs 40000 loss On book value depreciation is provided at the rate of 10% Per Annum company provide depreciation as per straight line method, also prepare machinery account upto 31st March 2020plz give a correct answer or else get reported for wrong timepass answers |
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Answer» Explanation: a MACHINERY was purchased for rs 54000 on 1st June 2017, another machinery was purchased on 1.1.2018 for rs 900000, On 31.12.2018,1st machinery was sold for rs 25000 profit, and on 31st March 2020 2nd machinery was sold for rs 40000 loss On book VALUE depreciation is PROVIDED at the rate of 10% Per Annum company provide depreciation as per straight line method, also prepare machinery account upto 31st March 2020 plz give a correct answer or ELSE get reported for wrong timepass answers |
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| 5. |
State the uses of debenture premium amount. |
Answer» To write off expenses of issue of shares and debentures, such as COMMISSION paid or discount given on the issue of shares. The balance can ALSO be used to provide for the premium that is payable on the REDEMPTION of debentures or of preference shares of the company.Explanation: #Hope you have SATISFIED with this answer. |
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| 6. |
21. From the following particulars, prepare Income and Expenditure account for the year ended 31st March 2020 and the Balance sheet as on that date: Receipts and Payments account for the year ended 31st March 2020. Rs. Rs. Balance b/d 10,000Wages and Salaries 14,000Annual subscription 50,000Power and light 4,000Entrance fees 8,000Expenses on charity show 30,000Donations 10,000Subscription for periodical 6,000Life membership subscription 16,000Monthly income units of unit trust of India 40,000`[P.T.O.] Rs. Rs. Interest on investment 4,000Rent 24,000Proceeds of charity show 50,000Balance c/d 30,000 1,48,000 1,48,000 On 1-4-2019, the following balances appeared in the books of the non-trading organization: Investment 20,000 T.T. Table 10,000 Life membership fund 6,000 Annual subscription outstanding 4,000 Rent outstanding 6,000 Annual outstanding received in advance 2,000  On 31-3-2019, rent outstanding was 6,000 and annual subscription outstanding 8,000. |
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Answer» rek-ftib-tzp (why reproduction is IMPORTANT in ANIMAL and how we find velancy of ELECTRON and HAPPY day |
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| 7. |
red&white company Ltd.invitedapplications for issuing 6000 shares of Rs.100 each payable Rs.40 on application Rs.30 on allotment Rs.30 on first and final call |
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Answer» Answer: company issue 6000 shares of 100 each 6000× 100 = 6,00,000 total to share application Ac 6000 × 40 = 240,000 2) share application Ac Dr. to share CAPITAL account 240,000 3) share ALLOTMENT ac Dr. 6000× 30 = 180,000 to share capital 4) bank ac Dr. . to share allotment 180,000 5) share 1st and final call dr. 6000× 30 = 180,000 to share capital 6) bank ac Dr. to share 1st and final call ac . 180,000 Explanation: on application received money 240,000 on allotment. 180,000 on 1st and final call. 180,000 total. 6 LAK . |
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| 8. |
What is preference share |
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Answer» PREFERENCE SHARES, more commonly REFERRED to as PREFERRED stock, are shares of a company's stock with dividends that are paid out to shareholders before common stock dividends are issued. ... Most preference shares have a fixed dividend, while common stocks generally do not. Explanation: mark me as brainliest |
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| 9. |
Please solve this question for me. July, 1 bought good on credit 440.000 from dr. Small |
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Answer» to dr.small. ₹440 |
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| 11. |
Write business commenced with cash₹100000 |
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Answer» CASH a/c Dr100000 to CAPITAL a/c100000 Explanation: is the answer!!! |
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| 12. |
Business studies 1st and pu sole partnership Demetris |
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Answer» Explanation: |
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| 13. |
Why is Realisation Account prepared? |
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Answer» रिलेशन अकाउंट पेरिस में यदि हम किसी भी रिकास यस को स्टार्ट करते हैं तो तो हमारा क्या होता है एक वर्ड होता है दिशान रिलेशंस प्रोग्राम है क्या तैयारी यू प्लीज फॉलोइंग में |
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| 14. |
The agreement between partners must be in written ( t/f) |
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Answer» Answer: False. Explanation: Because the partnership DEED ( agreement ) in not compulsory in partnership. |
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| 15. |
Define nominal account? |
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Answer» Nominal ACCOUNTS are temporary accounts businesses USE to record income, GAINS, expenditures and losses over a specific accounting period of time. Usually, the firm's FISCAL year is the accounting period. |
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| 16. |
SHind Ltd. registered with capital of Rs. 90,00,000 divided into 90,000 equity shares of Rs. 100 each. The companyallotted 20,000 equity shares of Rs. 100 each as fully paid to the Vendor against the purchase of building and issuedprospectus inviting applications for 50,000 equity shares of Rs. 100 each payable as Rs. 201on application, Rs. 30 onallotment, Rs. 20 on first call and balance on second call.Applications were received for 45,000 shares. Raman to whom 1,600 shares were allotted did not pay final call moneyand these shares were forfeited. Of the forfeited shares, 600 shares were reissued to Sukhman, credited as fully paid forRs. 90 per share. Show the Share Capital as per Schedule III of Companies Act, 2013(4)Wwwwwwwww |
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Answer» Answer: 8496699r97 35956 2669uc e234 tuu2456 w9r99d Explanation: kekfng dll2 33556 |
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| 17. |
What is the purpose of profit and loss account? |
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Answer» <P>Answer: A profit and loss (P&L) statement summarizes the revenues, costs and expenses incurred during a SPECIFIC period of time. A P&L statement PROVIDES information about whether a company can generate profit by increasing revenue, REDUCING costs, or both. |
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| 18. |
radha,sheela and meena are partners sharing profits and losses in the ratio of 3:2:1 Sheela retired on April 1 2017 |
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| 19. |
Carriage on purchase journal entry |
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Answer» Answer: Carriage A/C to cash A/C Explanation: Since the carriage is PART of the expense incurred on the asset, it would be DEBITED. And because the cash is GOING out, the cash account must be CREDITED to make the correct entry. |
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| 20. |
Goli Limited issued 20000 shares of 100 rupees each plus 10 rupees premium table as 3320 application received for 13000 Shades and 4000 share will be adjusted in the remaining shares will be rejected show the journal entries for the above question |
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Answer» djdjjdndnddnndndndndndndndndnndmrnrneneenen |
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| 21. |
Reason why we do not transfer all risks by using insurance. |
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Answer» PLZ MARK me as BRAINLIEST |
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| 23. |
Give me advice which I follow in revising accounts syllabus again !! """how and what steps follow .... please tell me |
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Answer» hi kriti sister.how RU . sorry I don't KNOW answer for ur question. |
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| 24. |
OcatoDebicaDepreciationabsolescenceDifference |
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Answer» vwhakvxjyq you what bwjjw hejowbw what I bwhjwmw |
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| 25. |
Sold 3/4 of the above goods for Rs. 190000 to nutan Ltd. Plus V A T @ 12 percentage |
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Answer» Answer: 17100 Explanation: 190000×3/4×12/100 |
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| 26. |
Content,andofthose,83percentratedthecontent good or excellent.Fullytwo-thirds of recipients recalled theproductads and 47 percent confirmedthat the association with Reader’s Digest added to their credibility.Trust worthy consumer information is the cornerstone of pharmamarketing.Judgingfrom the substantial consumer feedback,a helpful bookle thelped connect credible content with Nexiumasa treatment option for acid reflux disease.AstraZeneca’s collaboration with a respected publication enhanced thebrand’s reputation with heart burn sufferers.That’sthe essence of all successful advertising.Questions1.Analyze how Nexium developed its brand equity in acid reflux.2.Analyse the role of Reader’s Digesting establishing the brand equity for Nexium. |
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Answer» Answer: Quick-Print Limited is a clothing manufacturing company that specializes in producing commemorative shirts immediately following major sporting events like the World Cup, Asian Games etc. The company has been contracted to produce garments for the winning cricket team in the coming World Cup. The items produced include two types of sweatshirts, one with silk screen printing on the front (F) and one with print on both back and front sides (B/F), and two types of T-shirts of the same configuration (F and B/F). The company has to complete all production within 48 hours after the game, at which time a trailer truck will pick up the shirts. The company will work around the clock. The truck has ENOUGH capacity to accommodate 1,400 standard-size boxes. A standard-size box holds 12 garments. The company has BUDGETED Rs. 125,000 for the production run. The resource requirements, unit costs, and profit for each type of shirt are shown in the following table. Processing Time (hr) Cost (Rs) Profit (Rs) Sweatshirt–F 0.22 36 90 Sweatshirt–B/F 0.36 48 126 T-shirt–F 0.06 26 44 T-shirt–B/F 0.32 38 62 The company wants to know how MANY units of each type of shirt to produce in order to maximize the total profit. Formulate the above problem as a Linear Program. NOTE: Clearly define the VARIABLES and LABEL each constraint. |
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| 27. |
State the importance of financial analysis for labour unions. |
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Answer» Answer: Labour unions analyze the financial STATEMENTS: a) To ASSESS whether an enterprise can increase their pay. b) To CHECK whether an enterprise can increase productivity or RAISE the prices of PRODUCTS/ services to absorb a wage increase. ( any other relevant point to be marked ). Explanation: |
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| 28. |
What was the day on 7th December, 1990? (1) Monday (2) Tuesday (3) Thursday (4) Friday |
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Answer» Answer: 4.Friday |
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| 29. |
The calibre or quality of the management team is not disclosed in the Balance Sheet. ii. Assets are recorded in books at the cost incurred for acquisition of such assets. iii. Capital contributed by the proprietor is credited to his Capital Account. iv. The assets of ABC Sugar Co. were acquired by the Government on 1st April,2020 and the company received the compensation of $10 million. The company did not have any other business as on date of acquisition and has also not ventured into any other business after acquisition of assets. The company placed the amount so received in a fixed deposit with a bank, which is lying deposited with the bank, which is lying deposited with the bank as on date also. It has also filed a case in the Court seeking higher compensation. |
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Answer» y she tdswchiedcjitasc️☺️⭐ |
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| 30. |
Assume you have created a business now you are going for expansionExplain in detail the source of external funds for your business |
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Answer» Answer: |
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| 31. |
When the cost of buying goods is more than the selling price than it is called as gross loss or net loss |
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Answer» Answer: gross loss Explanation: A gross loss is the amount of MONEY your business has paid for expenses such as equipment purchases, PAYROLL, duty fees and leasing charges to keep your company in operation. The gross loss will not REFLECT any credits to the account. A net loss is when expenses exceed the income or total revenue PRODUCED for a given PERIOD of time. its gross loss because you are just transacting between goods and not calculating the final total |
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| 32. |
Lifo fifo method in accounting system receipt side |
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Answer» Answer: FIFO and LIFO are methods used in the COST of goods sold calculation. FIFO (“FIRST-In, First-Out”) assumes that the oldest PRODUCTS in a company’s INVENTORY have been sold first and goes by those PRODUCTION costs. The LIFO (“Last-In, First-Out”) method assumes that the most recent products in a company’s inventory have been sold first and uses those costs instead. |
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| 33. |
GST UNDWE WHICH ACCOUNT DOES IT COME |
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Answer» Answer: There will be only three accounts under each of them- SGST, CGST, IGST instead of maintaining current EXCISE payable, CENVAT credit, VAT payable, VAT credit, Service TAX accounts. GAAP is applicable mandatorily on GST. So, all principles FOLLOWING revenue recognition etc. will be applicable. Explanation: mark as brainlist please |
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| 34. |
Purchased goods from Gopal for Rs. 3600 but recorded 6300 to the debit side of Gopal. |
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Answer» to gopal AC cridit 3600
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| 35. |
CabAsset, Liabilities and capital through accounting equation17. Show the elect of the following transactions onequation:a) Started business with cash Rs.1.00.000b)Purchased goods for cash Rs. 10,000 c) Purchased furniture for office use Rs.5.000d)Sold goods for cash Rs. 10,000e) Rent received Rs.3.000f) salary paid Rs.6,000g) Cash received from Manish Rs.5.000h) Paid commission Rs.2.000 |
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Answer» H PAID comminsion RS 2,000 easy Explanation:
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| 36. |
Class 11 commerce final exam questions paper |
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Answer» Answer: bhai mere my cbse guide KARKE ek aap AATA he...USPE miljayega... |
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| 37. |
1. Give Journal entries for the following:Jan. 1 2019Debit Balance : Cash 40,000; Furniture ? 15,000; Stock * 22,000; Land & Building* 65,000.Debtors : A * 14,000; B 17,000; Ramesh * 6,000; Mohan 9,000Credit Balances and Creditors : Capital ? 45,000; Mohit * 70,000; Gupta * 73,000.(Ans. Total of Journal * 1,88,000.]Journalise the following |
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Answer» Explanation: CASH ac 40000 furniture ac 15000 stock 22000 land BUILDING 65000 goodwill ac 46000 to capital 45000 to MOHIT 70000 to gupta 73000 |
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| 38. |
4. Journalise the following transactions in the Books of Mrs. Rani :(i) A who owed * 14,500 was declared insolvent and only 65% of it was only receivedas final dividend.(ii) Sold goods to Mr. Rampal list price * 5,000. Trade discount 10% and cash discount5% was allowed. He paid the due amount on the same day and availed the cashdiscount.(iii) Supplied goods costing the 19,000 and Mr. B issued invoice at 10% above cost less5% trade discount.Journalise the following |
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Answer» Answer: Journalise the following transaction:Sohan is declared INSOLVENT. RECEIVED from his official receiver 60 paise in a RUPEE on a debt of Rs. 10,000. Explanation: MARK me BRAINILIST |
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| 39. |
Which business document is referred to when making entries in sales returns journal? |
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Answer» Sales DAY Book also REFERRED to as Sales Journal, is used to record BUSINESS's CREDIT sales of goods. ... It is a list and summary of invoices the business sends to its credit customers. This is a Book of Prime Entries, which means that the transaction entries are not part of the double-entry system. |
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| 40. |
Cash paid for caring cost Rs 800 |
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Answer» it should be PAID |
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| 41. |
Electricity charges paid through net banking in journal entry |
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Answer» Explanation: And based on the golden rule of accounting when assets decrease we will credit them. We are debiting electricity CHARGES because the accounting rules as that we should debit all EXPENSES and credit incomes, here electricity charges an EXPENSE for the firm therefore we will debit them . |
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| 43. |
In which ratio the cash amount of goodwill is divided. |
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Answer» GOOD will DIVIDE to any RATIO EXAMPLE 2:3 2:1 3:4:5 this why |
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| 44. |
Sold building on credit |
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| 45. |
11. Mohit has the following transactions prepare accounting equation :1. Business started with cash Rs. 1,75,00050,0002. Purchased goods from Rohit20,0003. Sales goods on credit to Manish (Costing Rs. 17,500)4. Purchased furniture for office use10,0005. Cash paid to Rohit in full settlement48,5006. Cash received from Manish20,0007. Rent paid1,0008. Cash withdrew for personal use3,000[Ans : Cash Rs. 1,32,500 + Goods Rs. 32,500 + Furniture Rs. 10,000 = Rs. 1,75,000;Liabilities = Capital Rs. 1,75,000.) class11th |
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Answer» we are not in this TOPIC of discussion |
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| 46. |
I want the answer of question 8, 9, and 10 |
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| 47. |
Young india club has been established on 1st april |
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Answer» Its TRUE it was ESTABLISHED on 1ST April,2017 |
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| 48. |
Ans. 71,60,000.)4. X purchased the business of y from 1st April, 2019. For this purposeall is to be valued at 100% of the average annual profits of the last four years.shown by Y's business for the last four years were :goodwill isThe profits shownYear ended31st March, 2017March, 2016 Profit 1,00,000 (after debiting loss of stock by fire50,000) +,, 2017 Loss 1,50,000, (includes voluntary retirementcompensation paid 780,000)2018 Profit 1,50,0002019 Profit 2,00,000Verification of books of accounts revealed the following:(1) During the year ended 31st March, 2017, a machine got destroyed in accidenand 360,000 was written off as loss in Profit & Loss Account.(i) On 1st July 2017, Two Computers costing 340,000 each were purchased anwere debited to Travelling Expenses Account on which depreciation is tocharged @ 10%'p.a. on Straight Line Method.Calculate the value of goodwill. |
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Answer» IDENTIFY the 'Accounting CONCEPTS' INVOLVED in the following: a) Production Manager of the company is interested to reflect the good industrial relations in the accounts. b) Machine is recorded at cost (Rs. 50,000) while the market VALUE is Rs. 45,000. c) Accounts are prepared at the end of every year. d) Same accounting methods are used year after year. |
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| 49. |
Value method means a method by which |
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Answer»
In accountancy, depreciation refers to TWO aspects of the same concept: first, the ... Depreciation is THUS the decrease in the VALUE of assets and the METHOD used to reallocate |
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| 50. |
Features of accounting reports in tally |
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Answer» Answer: report is an organized and formatted presentation of data in the FORM of text graphics and calculation. Tally allows a user to collect different type of data such as voucher & invoices and display them in the form of reports. ......Following are the FEATURES of tally : 1- General 2- Outstanding management 3- Cost 4- Profit center management 5- Invoicing 6- Budgets 7- Senarios Management.............The Cash Flow report in Tally. ERP 9 has been provided to help get a view of cash inflow and outflow during an accounting period. This report makes it EASY for business owners to understand the cash flow situation for a specific period and helps make decisions. Similarly, the Fund Flow report in Tally.......hope this helps uhh ....❣❣....@doll54......❣❣❣❣....... |
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