10977 + Interview Questions in Secondary School in Accountancy

1.	Why is bank reconcilition statement prepared
Answer» Businesses maintain cash book to record both the cash as well as bank TRANSACTIONS. A Cashbook has a cash column which shows cash available with the BUSINESS and a bank column which shows cash at bank. Bank ALSO keeps an account for every customer in their books. All the deposits are recorded on credit side of customer’s account and withdrawals are on the debit side of their account. An account statement is SENT regularly to the CUSTOMERS by the

1.

Why is bank reconcilition statement prepared

Answer»

Businesses maintain cash book to record both the cash as well as bank TRANSACTIONS. A Cashbook has a cash column which shows cash available with the BUSINESS and a bank column which shows cash at bank.

Bank ALSO keeps an account for every customer in their books. All the deposits are recorded on credit side of customer’s account and withdrawals are on the debit side of their account. An account statement is SENT regularly to the CUSTOMERS by the

14.	Decease in asset and decrease in liability
Answer» These business transactions result in changes to the three elements of the basic accounting EQUATION. A TRANSACTION that increases TOTAL ASSETS MUST also increase total liabilities or owner's equity. A transaction that decreases total assets must also decrease total liabilities or owner's equity

37.	Differences between retiring partner and Death of a partner
Answer» Retirement of a PARTNER means ceasing to be partner of the firm. A partner MAY retire (i) of there is AGREEMENT of this effect (II) all partners give consent (iii) At will by giving WRITTEN notice

48.	Question + From the following information provided by Rex Co. Ltd., you are required to prepare itsPlant and Machinery Account for the years 2017-2018 and 2018-19.The company charges depreciation a 10% per annum on the Straight Line Method.It closes its books of accounts on 31" March, every year.Date Particulars1/4/17 Balance standing in the Plant & Machinery Account1,00,000(Cost price of the plant in use was 3,00,000)1/4/17 Cost price of machine purchased10,0001/4/17 One machine which had cost 3,300, in the year 2004 andso was not in use, was sold as scrap for 2001/4/18 Cost price of machine purchased6,0001/4/18 One machine which had cost 4,000,'on l' April, 2014,was sold for 2.7001/10/18 Cost price of machine purchased8,000
Answer» It’s a SIMPLE question. You just have to FOCUS on the MAIN POINTS.

Explore topic-wise InterviewSolutions in Current Affairs.

Why is bank reconcilition statement prepared​

On which side is interest on bank deposite recorded in pass book​

What does debit balance in pass book represent​

Who prepares the bank reconciliation statement​

What does a debit balance in cash book represent​

Who send the bank statement​

A bank issues a bank statement to an ACCOUNT holder that shows the detailed ACTIVITY in the account.

It ALLOWS the account holder to see all the transactions processed on their account. BANKS usually SEND monthly statements to an account holder on a set date.

Don't forget to mark me as best answers.....

What is withdrawal slip​

What is pay in silp​

Definition of paying-in SLIP. British. : a PIECE of PAPER that a person gives with a bank deposit to show how much money he or she is putting in an ACCOUNT.

office supplies consumed during the year amounted to 17000. Advertising expense in the amount of 25000 has expired during the year

Sold goods to vinod ruppes 950 entered in sales book as rupees 590​

What is capital? capital म्हणजे काय?​

calculation the co-effciant of correlation. x-series 42,44,58,55,89,98,66​

Decease in asset and decrease in liability

What is meant by 'Data base design'​

How to prepare comparative balance sheet​

if revenue from operations are rs. 48,000, opening trade receivable are Rs. 8,000 and closing trade receivable are Rs.6,000. calculate cash receipts from customers . answer, 2nd puc ncert accountancy​

Back julavani Patrik tayar karnyachi prkiya spastkara​

What is meant by 'Issued Capital'?​

Advertisement expenses of Rs 1,60,000 is paid by VS Co Ltd to Mr. Salman by cheque. Where is the bank ledger account reflected in the financial statement?

In certain cases, income of other person is included in the income of assessee. it is called .......? :-a} clubbing of income b} increase of incomec} addition to incomed} set-off of income​

I have started a business in the name of Brintel Impex a proprietary concern. You have introduced Rs 80,000 into the business in cash and deposited into safe locker of the entity. You are accounting the transactions in the books. Which account is Debited during accounting the entry?

What is a order cheque?​

Classify the following items into External Liabilities, Internal Liabilities,Wasting Assets, Intangible Assets and Tangible Assets :creditors, quarries, interest on capital, plant and machinery, mines, patents, reserves, goodwill, bank loan, furniture. ​

Ahmad started business with cash 10000 , machine 20000 and loan of Mike is 5000. Journalize it

• Plant & Machinary includes a machine purchased for ₹10000where will we show this adjustment ???​

Paid into bank journal entry​

To percentage prefixed with the debentures indicates which of the following:(a) rate of interest per annum(b) half yearly rate of interest(c) Quarterly rate of interest(d) rate of divided​

X and Y were partners sharing profits in theratio of 7:3. Z was admitted on 3/7'" share in the profits. Calculated new profit sharing ratio of the partners.

The minimum number of members in a private limited company can be:(a) 20 (b) 50(c)100 (d) no restriction​

Direct expenses are directly attached to : (a) sales of goods(b) purchase of goods(c) distribution of goods(d) sales returns of goods​

A reserve that is not shown the balance sheet is called:(a) revenue reserve(b) general reserve(c) secret reserve(d) capital reserve​

Differences between retiring partner and Death of a partner

One item of purchase of 25 has been posted from the day book to ledger as 250rectify using suspense a/c​

Managment accounting​

Difference between historical cost accounting and inflation financial statement

11. With what amount the bad debt account be debited in profit and loss account if: sundry debtors are2,10,000, provision for bad debt 20,000, bad debts 8000. further information is that additional baddebts were 10,000 and provision for bad debts what to be created at 10% on debtor​

Journal entry : Bought tailoring materials for cash.

In which account bank gives overdraft facility​

SAVING bank account gives OVERDRAFT facility.

I can't find the answer...can anyone help me to figure out this problem ​

How to draw specimen of tax invoice easily​

Purchased a laptop by cheque rs 50000

Why is bank reconcilition statement prepared

On which side is interest on bank deposite recorded in pass book

What does debit balance in pass book represent

Who prepares the bank reconciliation statement

What does a debit balance in cash book represent

Who send the bank statement

What is withdrawal slip

What is pay in silp

Sold goods to vinod ruppes 950 entered in sales book as rupees 590

What is capital? capital म्हणजे काय?

calculation the co-effciant of correlation. x-series 42,44,58,55,89,98,66

What is meant by 'Data base design'

How to prepare comparative balance sheet

if revenue from operations are rs. 48,000, opening trade receivable are Rs. 8,000 and closing trade receivable are Rs.6,000. calculate cash receipts from customers . answer, 2nd puc ncert accountancy

Back julavani Patrik tayar karnyachi prkiya spastkara

What is meant by 'Issued Capital'?

In certain cases, income of other person is included in the income of assessee. it is called .......? :-a} clubbing of income b} increase of incomec} addition to incomed} set-off of income

What is a order cheque?

Classify the following items into External Liabilities, Internal Liabilities,Wasting Assets, Intangible Assets and Tangible Assets :creditors, quarries, interest on capital, plant and machinery, mines, patents, reserves, goodwill, bank loan, furniture.

• Plant & Machinary includes a machine purchased for ₹10000where will we show this adjustment ???

Paid into bank journal entry

To percentage prefixed with the debentures indicates which of the following:(a) rate of interest per annum(b) half yearly rate of interest(c) Quarterly rate of interest(d) rate of divided

The minimum number of members in a private limited company can be:(a) 20 (b) 50(c)100 (d) no restriction

Direct expenses are directly attached to : (a) sales of goods(b) purchase of goods(c) distribution of goods(d) sales returns of goods

A reserve that is not shown the balance sheet is called:(a) revenue reserve(b) general reserve(c) secret reserve(d) capital reserve

One item of purchase of 25 has been posted from the day book to ledger as 250rectify using suspense a/c

Managment accounting

11. With what amount the bad debt account be debited in profit and loss account if: sundry debtors are2,10,000, provision for bad debt 20,000, bad debts 8000. further information is that additional baddebts were 10,000 and provision for bad debts what to be created at 10% on debtor

In which account bank gives overdraft facility

I can't find the answer...can anyone help me to figure out this problem

How to draw specimen of tax invoice easily