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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. |
Mr nanda started business with cash 13000 |
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Answer» To CAPITAL a/c 13000 |
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| 2. |
April, 2018, the following transactions took place :mohan 10000 dr received a draft from mohan in full settlement and deposited it into bank |
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Answer» where is the question Explanation: HOPE you're SAFE from covid-19 mark as BRANLIEST |
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| 3. |
75,00067. From the following information, calculate Inventory Turnover Ratio:Opening Inventory*40,000 Closing InventoryPurchases92,000 WagesCarriage Inwards* 4,000Freight Outwards12,0006,0007,500 |
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Answer» Answer: ❤❤❤❤❤❤ Good EVENING FRIENDSHIP THANKS you friends |
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| 4. |
The number of exposure Milan(b) The cost of a new mobile phone is R10,000. If the interest rate is 5%, howmuch would you have to set aside now to provide this sum in five years?FVIFA |
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Answer» ??? the full one |
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| 5. |
Becomeowe RS - 900m/sSohan & co whoInsolvent. only 30% of amount isreceived |
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Answer» what ggggggggggggg gg^nnrtdfU+g |
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| 6. |
Accountancy journal sold to sovan goods for cash |
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Answer» CASH a/c dr to sovan a/c Explanation: |
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| 7. |
X,Y,Z,W are 4:3:2:1 .Z acquire 1/5 from X. Y acquire 1/5 from X and W equally . Find new ratio and sacrifice ratio |
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Answer» the net worth is 67billion Explanation: please MARK as BRAINLIEST |
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| 8. |
A club has 300 members . Yearly subscription is ₹200 per member . During 2019-20 ,260 members paid their fees while 15 members had already paid in 2018-19 . Also , 18 members who did not pay their fees for 2020-21 in advance during 2019-20 calculate subscription |
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Answer» answer is 46,600 RUPPES |
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| 9. |
Discount allowed distributed in the following bases while calucalating departmental p/l a/c |
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Answer» Answer: PLEASE FOLLOW me and THANKS my answer as BRAINLIEST and MARK my answer as BRAINLIEST as BRAINLIEST. Explanation: PLEASE FOLLOW ME AND THANKS MY ANSWER AS BRAINLIEST AS BRAINLIEST AND MARK MY ANSWER AS BRAINLIEST AS BRAINLIEST AS BRAINLIEST. |
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| 10. |
Which of the following shortcut is used to open a newfile in writer alt+n |
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Answer» CTRL+S ALT+N CTRL+N CTRL+V. |
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| 11. |
State anyState two methods of redemption of debentures. |
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Answer» Debenture can be redeemed in various ways by a company. It can PAY a LUMP sum on the date of MATURITY or may pay in annual installments. A company can ALSO purchase it from the open market or convert to an equity share in case of convertible debentures. INNOVATIVE ways like call or put option can also be utilized. |
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| 12. |
X and Y are partners in a firm having capital balances of Rs 60,000 and Rs 40,000 respectively. C is admitted as partner for 1/5th share in the profit. If C brought proportional Capital in the firm, his share of Capital would be: |
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Answer» Answer: |
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| 13. |
The total of all direct expenses is known as …………..cost. Answer Answer Option Works Production Prime |
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Answer» Answer: search from your BOOK , it will be easy , NEITHER send me your book PAGE |
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| 14. |
Cost accounting records both monetary and …………… units ? Answer Answer Option Physical cost both a & b |
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Answer» THANKS you. |
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| 15. |
State two circumstances by which a partnership firm mayreconsstituted. |
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Answer» A two-person partnership can be reconstituted. This may occur where a partner dies, and the partnership agreement ALLOWS for continuity of the partnership with the executor, trustee or BENEFICIARY of the deceased partner's ESTATE. Procedures for the continued use of the partnership's TFN Explanation: |
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| 16. |
Mr. Babush the proprietor of Babush Textiles purchased the following materials from Sedrick Traders for cash: - 500 meters of cotton @ Rs 20 each. 100 sets of Kids readymade wear @ Rs 40 each per set. He sold to K.N Traders 300 and 50 meters of cotton cloth @ Rs 45 each for cash and for credit respectively. Sold to Ruby readymade stores 75 sets of kids readymade wear @ Rs 100 per set. He bought a new table for his shop for Rs 12,000 Rent paid for the building amounted to Rs 5,000. Read carefully the above transactions and answer the following: Calculate Mr. Babush’s total purchases. Calculate his total expense. Calculate his Revenue and Income for the period. Are there any Debtors or Creditors for Babush due to the above transaction? If yes, calculate the amount of Debtors and Creditors. |
Answer» Hii mate here is ur answer plz MARK me as brainlist friend and thank me...plz GIVE more thanks and get thanks don't FORGET to follow me #friend══════ •『 ♡』• ════════════ •『 ♡』• ═══════════see this══════ •『 ♡』• ════════════ •『 ♡』• ════════════ƒσłłσω мεGIVE THANKS = TAKE THANKS |
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| 17. |
Paid cash to ms saha and sons rs 480 They allowed discount rs 20 |
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Answer» SAHA and sons a/c.........dr. 480 DISCOUNT allowed a/c ....dr. 20 To CASH a/c. 500 |
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| 18. |
Mr. Babush the proprietor of Babush Textiles purchased the following materials from SedrickTraders for cash: -500 meters of cotton @ Rs 20 each.100 sets of Kids readymade wear @ Rs 40 each per set.He sold to K.N Traders 300 and 50 meters of cotton cloth @ Rs 45 each for cash and forcredit respectively.Sold to Ruby readymade stores 75 sets of kids readymade wear @ Rs 100 per set.He bought a new table for his shop for Rs 12,000Rent paid for the building amounted to Rs 5,000.Read carefully the above transactions and answer the following:Calculate Mr. Babush’s total purchases.Calculate his total expense.Calculate his Revenue and Income for the period.Are there any Debtors or Creditors for Babush due to the above transaction? If yes, calculatethe amount of Debtors and Creditors. |
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Answer» Videos PREVIEW 22:36 CAT 2006: LRDI - Chetan and Michael SHARES questionExplanation: |
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| 19. |
Losses in the ratio 3:22. They alsgits and1 x andon in the ratio 3.2. on admission of wecamishasing pecofits and loveldecideto mecend the effect 4 the following accumulatedaffecting their book values, by passing.particularsBook values (Rs.)General Reserve6 6000Profit & loss All C CreditAdvertisement Suspew All 12,02of a single entry24.002 |
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Answer» ANS. 0.136363636363 please FOLLOW me |
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| 20. |
Cost accounting is based on……………….figures. Answer Answer Option Actual Estimated Historical |
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Answer»
COST ACCOUNTING is BASED on SUMMARIZING FIGURES .
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| 21. |
X andYsedecidesharing profits and lossedthey decide to share puiture peopleto mecend the effect of the following accumulatedIto a single entryAffecting their bock values , by passingParticularsBook values (Rs.)General Reserve6000Profit & Loss ALC C CreditAdventisement suspens All12,00024,000 |
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Answer» hello friend question is not CLEAR so SORRY I can't ANSWER your question |
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| 22. |
(a) 1-4-2018 the book value of furniture of club 600000(b) 13-3-2019 half of the furniture was sold on for 25000(c) rate of depreciation is 10presantgep.a |
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| 23. |
Cost accounting is based on……………….figures. |
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Answer» Explanation: |
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| 24. |
From the following ledger balances extracted at the close of trading year ended 31st March, 2020 prepare a trading account, P&L a/c and balance sheet at that date:Capital on 1/4/2019 5000000 Business Premises 550000Stock on 1/4/2019 80000 Furniture & Fixtures 25000Purchases 200000 Bills Receivables 35000Sales 800000 Bills Payables 25000Returns Inwards 15000 Debtors 200000Returns Outwards 4000 Creditors 158000Wages 69000 Packing Machinery 45000Advertisement 55000 Loan @ 3% on 1/4/2019 50000Apprenticeship Premium 12000 Investment 30000Interest on Smith’s Loan 1000 Cash in Hand 2500Office expenses 80500 Dividends 30000Cash at Bank 35000 |
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Answer» Answer: tumhe kya hai koi bata do KI TU hi hai ki tu hi hai ki aap karte hain aur SHARE KARE to haath se kam se kam se kam se kam se kam se kam se kam se kam se kam se kam se kam se kam se kam nahi G sanskrit stotra of you to be the best regards John sent to the meeting and technology |
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| 25. |
14. Journalise the following transactions in the following casesJOURNAL AND LEDGERadvance together with order.him.(it) Received 4,000 toward refund of income tax and 500 for interest on advance tax paidcheque was immediately deposited into bank.(v) The bank intimated that Avinash's cheque has been returned dishonoured.discount,government by cheque.15. How would you record the following transactions in Journal ?(1) Purchased a running business for 1,50,000.(17) Bought goods of invoice price of 6,000 from Bhashkar at 10% trade discount and 5% cash discountHalf the amount was paid in cash.[Hints : Cash discount received 135.)(i) Goods of invoice price of 10,000 were sold to Sankar at 20% trade discount and 10% cash discountare available(iv) An order for supply of goods worth 7,500 has been received from Manik.() Deposited in fixed deposit account 50,000 and in current account 10,000.repair5% tradeandmand paidas sample16. Enter the following transactions in Journal :(1) Machinery worth * 60,000 was insured for 7 50,000 and paid insurance premium ® 2%(1) Bought goods from worth 72,00,000 from American company and paid import duty of < 25,000 on theimported goods.(io) Paid excise duty = 5,000 by cheque and paid commercial tax ? 15,000 in cash.(0) Defalcation made by the cashier 6,000(vi) Bought goods worth * 60,000 from Dayal & Sons at 25% trade discount and paid two-third amount bycheque and one-third amount in cash.17. Enter the following transactions in the Journal :() Bought goods of list price $30,000 from Asish at trade discount 10% and 2% cash discount and paid50% amount by cheque.- chequeReceived valued order for 30,000 from Krishna for supply of goods and received 20,000 as an(ii) Goods worth ® 30,000 supplied to Krishna against the order and advance previously received from(iv) Received a cheque from Avinash worth * 14,400 against a debt of 15,000 in full settlement. The(v) Goods worth 4,000 was sold to a customer subject to sales tax of 10% and later on it was paid to the(i) Goods worth 5,000 were distributed to an office employee and goods worth 1,000 were distributed(m) The proprietor deposited 20,000, being personally earned into the bank account of the business. |
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Answer» fvhjjkhgdjbaigyndefnhafoyeoydyifsgkgskgdhiyydhskhdlhfkysyjlffjdstoccitdfiddudvzhdydnsfuckddglcvsfifaohfozh,udtakghjahpxgzjgdhodgostiddhoruasfkgdupfstiaddpudiftidoudjsfoqhsjfgwkfvaicgaHfyfkcvsfifgsgkaiqoihaouqdguodutxidgddyqgutdkhfudzfuprafjpkgk |
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| 26. |
Who is the student of bcom 3rd year from ignou university? |
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Answer» I'm not the STUDENT from there |
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| 27. |
From the Receipts and Payments Account and the information given, prepare Income andExpenditure Account and Balance Sheet of Sports Club: (10 Marks)Receipts and Payments Account for the year ended 31" March, 2014DrReceiptsAmountPaymentsAmountTo Balance byd5,100 | By Purchase of sports equipment 5,000To subscriptions:By electricity1,5002012 - 13800 | By General Expenses2,2502013 - 143,000 | By Honorarium to Secretary3,2501,250 | By Books4,250To Sale of newspapers)250 By Newspapers600To Life membership6,000 | By Furniture (Purchase)4,00010 sale of Old furniture400 | By Fixed Deposit made with Bank 10,000(Book value 3600)(on [email protected]%)To Rent received for the use2,750 By Balancecld2,200of HallTo Govt. grant10,000To profit from entertainment 3,50032,45032.450Additional Information:1) The club has 100 members each paying annual subscription of 3 1001) On 31.03.2014 general expenses outstandig amounted to 250ii) On 01.04.2013, the club owned Buliling valued at 7 10000, furniture # 12,000 and Books ?6000iv) Sports Equipment 241915 as on 1.4,2013Depreciation was to be allowed on furniture @5%(on opening balanc) Sports Equipielt at the end of the year were 3 3600. |
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Answer» gwisywkeyeejegfqpf Explanation: hwsishwojdgqdlwbgekf |
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| 28. |
x and y are partner with the capital of 13 lakh and 20 lakh De share profit and losses in the ratio of 1 ratio 2 and add z as new partner with 1/5 share |
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Answer» Answer: Explanation: Calculation of HIDDEN goodwill: Total Capital of the firm after admission= 50000+50000+80000+40000 = 220000 Total capital of the firm BASED on Z's capital= 80000 * 4/1 = 320000 Hidden goodwill= 320000-220000= 100000 Z's share of Goodwill= 100000 * 1/4= 25000 JOURNAL 1. Cash a/c..... DR. 80000 To Z's Capital a/c 80000 (Being capital brought in by Z) 2. Z's Capital a/c... Dr. 25000 To X's Capital a/c 12500 To Y's Capital a/c 12500 (Being Z's share of goodwill distributed among the partners in the ratio of 1:1) |
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| 29. |
Q. 55. Charu and Deepika were partners sharing profits in the ratio of 3:2. Theyadmitted Esha, as a new partner and the new ratio is agreed at 4: 3:2. On the date ofEsha's admission, the Balance Sheet of Charu and Deepika disclosed General Reserve1,20,000; Dr. balance in Profit & Loss Account 40,000; Investments 2,00,000 andInvestment Fluctuation Reserve 60,000.The following was agreed upon Eshas' admission :(i) Esha will bring 3,00,000 as her Capital and her share of goodwill premiumin cash.(ii) Goodwill of the firm be valued 1,80,000.(iii) The market value of investments was 2,30,000.Pass the necessary journal entries. |
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Answer» Explanation: Its just for explanation i have not made JOURNAL seriously just rough if u want u can make working NOTES more BRIEFLY but according to me its enough I HOPE it helped u..! |
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| 31. |
: Mr Robert commenced business on 1st January, 2011 with a capital of $100,000 in cash. On the same date he opened the bank account in ADCB and deposited $20,000. During the month of January 2011 the following transactions took place:Jan 1 Bought goods for cash 70,0002 Sold goods to Steve Co. (Credit) 38,00015 Sold goods for cash 9,00021 Steve Co. paid by cheque 35,00022 Stationery bill paid by cheque 2,00022 Telephone bill by cash 50031 Paid rent by cash 2,000Paid salaries by cash 3,000Withdrew cash personal use 5,000 |
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Answer» to SALES account |
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| 33. |
2018Feb I Dinesh started business withCash & 4000 Purchase & 2000and stock of goods & 8000 |
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| 34. |
On the admission of a new partner accumulated profit and loss are distributed in |
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| 35. |
व्हाट डू यू अंडरस्टैंड बाय कैपिटल गेन |
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Answer» PLZ MARK me as the BRAINLIEST and plz FOLLOW me |
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| 36. |
The profits of the last three years are 8,000,13,000 and 18,000. The goodwill is valued at2 years' purchase of the average profits of lastthree years. The value of goodwill will be –(a) 20,000(b) 25,000(c) 26,000(d) 30,000 |
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Answer» Average profits of 5 year= 20000 + 18000 +2000 +5000 +5000/5 = 10000 Calculation of GOODWILL = 10000* 1.5 = 15000 |
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| 37. |
Rectify the following errors and ascertain the amount of difference in trialbalance by preparing suspense account:(a) Credit sales to Mohan Rs. 7,000 were not posted.(b) Credit purchases from Rohan Rs. 9,000 were not posted.(c) Goods returned to Rakesh Rs. 4,000 were not posted.(d) Goods returned from Mahesh Rs. 1,000 were not posted.(e) Cash paid to Ganesh Rs. 3,000 was not posted.(1) Cash sales Rs. 2,000 were not posted. |
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Answer» This is your answer please give me a point please MAKE me BRAINLESS I hope I can HELP you |
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| 38. |
Bought goods from sundar lal rosjanlal rs.5000 and from charan dass & sons rs. 3000 both were subject to 10% trade discount |
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Answer» Answer: PURCHASE a/c. dr 7200 to sunderlal. 4500 to charan dass. 2700
Explanation: TRADE discount is not recorded. the purchase is recorded by SUBSTRACTING. the AMOUNT of trade discount.... thank you |
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| 39. |
Mr ranga started a real estate agency business with a cash investment of35,000. The following business transactions have been recorded:ta) Paid three months advance rent for office accommodation 3 2,100.(b) Bought car for office 21,000.(c) Purchased office furniture 7,000.(d) Bought office typewriter from Standard Supply Company 3,000.(e) Sold extra office furniture at cost to Amar for 1,000. Amar paid 600 incash and accepted a bill at three months for the balance.(f) Amar paid the amount of the bill at maturity and Mr Universe paid half theamount he owed to Standard Supply Company.(g) Collected 6,000 as commission.(h) Paid telephone bill amounting to 150.Use the following headings in a tabular form and work out the effects of theforegoing transactions on the equity of Mr Universe through the accountingequation.Cash + B/R + Prepaid rent + Office Car + Office equipment = Standard SupplyCo. + Owner's equity.(See Solution on page 7.17). |
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Answer» such a big question can't type!! SORRY |
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| 40. |
Problems on Job Costing:The following particulars are extracted from the books and otherrelevant sources on respect of M/s A&Co.a) Estimated Materials Cost of job is 50,000 and the direct labourcost is likely to be * 10,000.b) In machine shop, it will require machining by German machinefor 20 hours and Japanese machine for 6 hours.c) The Machine Hour Rates for German and Japanese machinesare * 100 and * 150 respectivelyd) The Direct wages in all other shops last year amounted to* 8,00,000 as against * 4,80,000 factory overheads.e) Last year factory cost of all jobs amounted to 25,00,000 asagainst * 3,75,000 office expenses.Make out a quotation with 20% profit on selling price.(B.Com, Bombay) (Ans : *99,043,75)cords |
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Answer» SALUT tout LE monde mon nom EST KAJAL s'il vous plaît s'il vous plaît s'il vous plaît s'il vous plaît s'il vous plaît suivez-moi s'il vous plaî |
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| 41. |
Khusboo ltd. issued for public subscription50000 equity shares of Rs. 10 each at apremium of 30% payable4 on application5 on allotment 4 on first and final call Applications were received for 100000 sharesAllotment was made pro rata to theapplicants for 80000 shares the remainingapplications being refund money overpaid on application was utilised toward sum due on allotment Chatteyee to whom 1000shares were alloted failed to paythe allotment and call money thecshareswere subsequently forfeited half of the forfeited shares were reissued as fully paid at a discount of 10 percent show the journal |
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Answer» Answer: The MAIN causes of water pollution in the Ganges river are the increase in the population density, various human activities such as bathing, washing clothes, the bathing of animals, and DUMPING of various HARMFUL industrial WASTE into the rivers |
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| 43. |
What is transposition in maths |
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| 44. |
which of the following will continue to appear in the balance sheet after the admission of a new partner in net effect method |
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Answer» Explanation: There are no OPTIONS given in question STATEMENT but in general when a new partner is admitted to a company or business, the then profit or loss appearing in the balance SHEET of the company is FIRST adjusted to the old partners and distribution is according to their profit sharing percentages. Hence the balance sheet will show the reserve profits and its distribution |
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| 45. |
Erample 1The following information relates to Swimming Cap manufacturing company for the 3months ending 31st March, 2014.Direct materials consumed28,000Direct labour paid22,000Direct expenses5,000Factory overheads5,000Administrative overheads4,000Selling and distribution overheads6,0001,000 units of Swimming caps are produced during the period and all the units producedare sold at 100 per unit.Prepare a cost sheet showing (a) Prime cost (b) Factory cost, (c) Cost of production (d)Cost of sales (e) Profit or loss. |
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Answer» ................................ THANKS ................................ thanks |
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| 46. |
During the financial year 2011-2012, Ashok had a cash sales of Rs. 5,00,000 and credit sales of Rs. 1,50,000. His expenses for the year were Rs. 2,50,000 out of which Rs. 50,000 were still to be paid. During the year , he received advance payment of Rs. 30,000 for sales to take place in May 2012.He also received consultancy fee relating to previous year Rs. 45,000 and paid expenses for the last year Rs.25,000.Find his income for the year 2011-12, if (a) he maintains his books of account on cash basis of accounting (b) he maintains his books of account on accrual basis of accounting |
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Answer» Opening STOCK 30,000 Closing stock 25,000 Opening CREDITORS 50,000 Closing debtors 75,000 Discount ALLOWED by creditors 1,500 Discount allowed to customers 2,500 Cash paid to creditors 1,35,000 Bills PAYABLE accepted during the period 30,000 Bills receivable received during the period 75,000 Cash received from customers 2,20,000 Bill receivable dishonored 3,500 Purchases 2,95,000 |
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| 47. |
Classification of cost |
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Answer» Answer: Types of costs FIXED costs. Fixed costs are costs that do not VARY with the level of output in the short term. Variable costs. A variable cost varies in DIRECT proportion with the level of output. ... Semi-variable costs. ... TOTAL costs. ... Direct costs. ... Indirect costs. Explanation: HOPE IT HELPS YOU... |
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| 48. |
Sum of the series,4,7,10..........148 |
Answer» Answer:- The series are in AP (Arithmetic PROGRESSION).The series are 4,7,10,............,148.a = 4, L = an = 148, d = a2- a1 = 7-4 = 3.1. an = a+(n-1)d148 = 4+(n-1)3148-4 = (n-1)3144/3 = ( n-1)48+1 = n49 = n.sn = n/2 [a+l]s49 = 49/2 [4+148]= 49/2×152= 49×76= 3,724.Therefore sum of the series is 3,724.I HOPE it is helps to you. |
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| 49. |
Furniture costing 15000 sold for 18000 brokerage on sale 1000...journal entry |
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Answer» Answer: 1. CASH a/c dr 18000 to p/l a/c. 3000 2. brokerage a/c dr. 1000 to cash. a/c. 1000 |
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