10977 + Interview Questions in Secondary School in Accountancy Page 19 InterviewSolution

901.	Illustration 9Deepak lent out a certain sum to Amit and Rama. The sum of Amit is morethan Rama by Rs. 800. Amit agrees to pay 6% interest and Rama 5%. Bothrepay
Answer» Answer: 11% INTEREST both of them and in TOTAL AMIT 811 RUPEES

901.

Illustration 9Deepak lent out a certain sum to Amit and Rama. The sum of Amit is morethan Rama by Rs. 800. Amit agrees to pay 6% interest and Rama 5%. Bothrepay

Answer»

Answer:

11% INTEREST both of them and in TOTAL AMIT 811 RUPEES

Discussion

902.	The rule of adding 3 days of grace to the maturity of bill of exchange do not apply incase of:A)Bill at sightB)Bill after sightC)Bill after dateD)Bill at rebate
Answer» ANSWER: A) BILL at sight Hope it HELPS:)

902.

The rule of adding 3 days of grace to the maturity of bill of exchange do not apply incase of:A)Bill at sightB)Bill after sightC)Bill after dateD)Bill at rebate

Answer»

ANSWER:

A) BILL at sight

Hope it HELPS:)

Discussion

903.	The rule of adding 3 days of grace to the maturity of bill of exchange do not apply incase of:A)Bill at sightB)Bill after sightC)Bill after date. D)Bill at rebate
Answer» ANSWER: B)Bill after sight Explanation: please MARK me BRAINELIST answer

903.

The rule of adding 3 days of grace to the maturity of bill of exchange do not apply incase of:A)Bill at sightB)Bill after sightC)Bill after date. D)Bill at rebate

Answer»

ANSWER:

B)Bill after sight

Explanation:

please MARK me BRAINELIST answer

Discussion

904.	Up in the1. If you don'tquarrelling thepolice will you by the collar. (seize / cease )2. As theof the tree was low wehad toour heads. (bow / bough)3. If youthese drugs, you will land(cell/sell)4. The people belonging to the particularin prison.(caste/cast)5. The priest wanted tothedecoration in the(altar/alter)6. Theof our college explained his(principle/principal)were
Answer» Answer: 1. cease 2. bow 3. cell 4. caste 5. alter 6. PRINCIPAL

904.

Up in the1. If you don'tquarrelling thepolice will you by the collar. (seize / cease )2. As theof the tree was low wehad toour heads. (bow / bough)3. If youthese drugs, you will land(cell/sell)4. The people belonging to the particularin prison.(caste/cast)5. The priest wanted tothedecoration in the(altar/alter)6. Theof our college explained his(principle/principal)were

Answer»

Answer:

1. cease

2. bow

3. cell

4. caste

5. alter

6. PRINCIPAL

Discussion

905.	The maturity of the bill of exchange is taken one day before when the due date falls on:A) Working dayB)Emergency holidayC) Public holidayD) There is no such rule
Answer» ANSWER: C) pUblic holiday hope helps u

905.

The maturity of the bill of exchange is taken one day before when the due date falls on:A) Working dayB)Emergency holidayC) Public holidayD) There is no such rule

Answer»

ANSWER:

C) pUblic holiday

hope helps u

Discussion

906.	10. A Ltd, took over machinery costing 1,80,000 of B limited at an agreed price of 1,62,000 and payment made to B Ltd. by the issue of________6% debenture of 100 each share at premium of 20% the number of debentures issued in favour of B Ltd, will be:
Answer» ANSWER: here i ATTACHED the solution Hope it HELPS :)

906.

10. A Ltd, took over machinery costing 1,80,000 of B limited at an agreed price of 1,62,000 and payment made to B Ltd. by the issue of________6% debenture of 100 each share at premium of 20% the number of debentures issued in favour of B Ltd, will be:

Answer»

ANSWER:

here i ATTACHED the solution

Hope it HELPS :)

Discussion

907.	From the following balance extractedfrom manju on 31st March 2014. youare required to prepare trading and profit and loss ac
Answer» Answer: in trading A/c put all industry related items...EG , opening stock in Dr... closing stock in cr ...wages paid , purchase , sales etc..thn Calculate gross profit.. after that PREPARE pl AC and put all OFFICE items LIKE salary , dep.of furniture etc, baddebt...after that Calculate net profit...

907.

From the following balance extractedfrom manju on 31st March 2014. youare required to prepare trading and profit and loss ac

Answer»

Answer:

in trading A/c put all industry related items...EG , opening stock in Dr... closing stock in cr ...wages paid , purchase , sales etc..thn Calculate gross profit..

after that PREPARE pl AC and put all OFFICE items LIKE salary , dep.of furniture etc, baddebt...after that Calculate net profit...

Discussion

908.	Discuss the procedure to calculate the Machine hour rate ? ( cost accounting )
Answer» ANSWER: MACHINE hour RATE is OBTAINED by dividing the total running EXPENSES of a machine during a particular period by the number of hours the machine is estimated to work during that period.

908.

Discuss the procedure to calculate the Machine hour rate ? ( cost accounting )

Answer»

ANSWER:

MACHINE hour RATE is OBTAINED by dividing the total running EXPENSES of a machine during a particular period by the number of hours the machine is estimated to work during that period.

Discussion

909.	Elecu (1)eet till to the date of death of a partner4. Expand SK.5. What do you mean by retirement of a partner!6. Deceased partner's claim is transferred to his Executor's Account (State T/F).Issued capital is part ofc) Authorised capital d) None of the abovepartner.
Answer» Answer: 2 (C): Classify the Accounts into Assets, LIABILITIES, Income, Expenditure and Capital (3M) (1) GOODS A/C (2) WAGES A/C (3) Loan A/C (4) Debtors A/C (5) Creditors A/C (6) FURNITURE A/C (7) Bills Receivable A/C (8) Meena's Capital A/c (9) Drawing A/C (10) Discount A/C (11) Rent Received A/c (12) Building A/C CANA

909.

Elecu (1)eet till to the date of death of a partner4. Expand SK.5. What do you mean by retirement of a partner!6. Deceased partner's claim is transferred to his Executor's Account (State T/F).Issued capital is part ofc) Authorised capital d) None of the abovepartner.

Answer»

Answer:

2 (C): Classify the Accounts into Assets, LIABILITIES, Income, Expenditure and Capital (3M)

(1) GOODS A/C

(2) WAGES A/C

(3) Loan A/C

(4) Debtors A/C

(5) Creditors A/C

(6) FURNITURE A/C

(7) Bills Receivable A/C (8) Meena's Capital A/c (9) Drawing A/C

(10) Discount A/C

(11) Rent Received A/c (12) Building A/C

CANA

Discussion

910.	The balance sheet of Anjana Ltd as on 31st March 2020 is as under:Equity & Liabiities Rs. Assets Rs.24,000 Equity Share @ 105,000 8% Cumulative. Preferred. Shares @ 108% Debentures Interest Accrued on DebentureCreditors2,40,00050,0001,00,0008,0001,00,0004,98,000GoodwillFixed AssetsStockDebtorsBankPreliminary ExpensesProfit & Loss A/c5,0002,57,00050,00060,0001,00015,0001,10,0004,98,000The following scheme is passed and sanctioned by the Court.(i) A new company P Ltd is formed with Rs. 3,00,000 divided into 30,000 equity shares of Rs. 10 each. (ii) The New company will acquire the assets and Liabilities of Anjana Ltd on the following terms:a) The old company’s debentures are paid by similar debentures in New Company and for outstanding interest; shares of equal amount are issued at par.b) The creditors are paid for every Rs. 100, Rs.16 in cash and 10 shares at par. c) Preference shareholders are to get equal number of equity shares at par. For arrears of dividend amounting Rs. 12,000, 5 shares are issued at par for each Rs. 100 in full satisfaction. d) The equity shares are issued one share at par for every 3 shares held. e) Expenses Rs. 8,000 are to be borne by the new company.(iii) The current assets are taken at book value (except stock which is to be reduced by Rs 3,000). The goodwill to be eliminated, balance of purchase consideration is to be attributed to fixed assets. (iv) Remaining shares of the new company are issued at par and are fully paid.
Answer» ANSWER: udduujjesjsijdjdjrjk

910.

The balance sheet of Anjana Ltd as on 31st March 2020 is as under:Equity & Liabiities Rs. Assets Rs.24,000 Equity Share @ 105,000 8% Cumulative. Preferred. Shares @ 108% Debentures Interest Accrued on DebentureCreditors2,40,00050,0001,00,0008,0001,00,0004,98,000GoodwillFixed AssetsStockDebtorsBankPreliminary ExpensesProfit & Loss A/c5,0002,57,00050,00060,0001,00015,0001,10,0004,98,000The following scheme is passed and sanctioned by the Court.(i) A new company P Ltd is formed with Rs. 3,00,000 divided into 30,000 equity shares of Rs. 10 each. (ii) The New company will acquire the assets and Liabilities of Anjana Ltd on the following terms:a) The old company’s debentures are paid by similar debentures in New Company and for outstanding interest; shares of equal amount are issued at par.b) The creditors are paid for every Rs. 100, Rs.16 in cash and 10 shares at par. c) Preference shareholders are to get equal number of equity shares at par. For arrears of dividend amounting Rs. 12,000, 5 shares are issued at par for each Rs. 100 in full satisfaction. d) The equity shares are issued one share at par for every 3 shares held. e) Expenses Rs. 8,000 are to be borne by the new company.(iii) The current assets are taken at book value (except stock which is to be reduced by Rs 3,000). The goodwill to be eliminated, balance of purchase consideration is to be attributed to fixed assets. (iv) Remaining shares of the new company are issued at par and are fully paid.

Answer»

ANSWER:

udduujjesjsijdjdjrjk

Discussion

911.	Calulate the GDP Deflator from the followingGDP - 3,20,000GDP on Constant prices - 2,80,000Nominal GDP 320,000NDP - 2,30,000
Answer» Answer: GDP DEFLATOR = NOMINAL GDP/ REAL GDP 100 = 320000/ 280000 100 = 114.29

911.

Calulate the GDP Deflator from the followingGDP - 3,20,000GDP on Constant prices - 2,80,000Nominal GDP 320,000NDP - 2,30,000

Answer»

Answer:

GDP DEFLATOR = NOMINAL GDP/ REAL GDP *100

= 320000/ 280000 *100

= 114.29

Discussion

912.	Multiple Choice Questions (MCQs)1. Physical Education comes through video.(a) Reading and Writing(b) Playing Video games(c) Activities of Big muscles(d) Watching Sports matches2. Which of the following is not the objective of Physical Education ?(a) Physical development(b) Social development(c) Social development(d) Fun and Recreation3. The carrier options through Physical Education are(a) Physical Education teachers (b) Sports Journalsit(c) Administrator(d) All of the above4. Which of the following tournament is not recognised by IOA?(a) Olympic Games(b) Asian Games(c) CBSE Cluster Games(d) Inter-School friendly matches
Answer» ANSWER: . Explanation: 1- C,D. 2- B,C,D. 3- A,B. 4- B,D.

912.

Multiple Choice Questions (MCQs)1. Physical Education comes through video.(a) Reading and Writing(b) Playing Video games(c) Activities of Big muscles(d) Watching Sports matches2. Which of the following is not the objective of Physical Education ?(a) Physical development(b) Social development(c) Social development(d) Fun and Recreation3. The carrier options through Physical Education are(a) Physical Education teachers (b) Sports Journalsit(c) Administrator(d) All of the above4. Which of the following tournament is not recognised by IOA?(a) Olympic Games(b) Asian Games(c) CBSE Cluster Games(d) Inter-School friendly matches

Answer»

ANSWER:

.

Explanation:

1- C,D.

2- B,C,D.

3- A,B.

4- B,D.

Discussion

913.	Anand, chandru and vijayare partner's sharing profiloss in the ratio of 9:21 Theis Balance sheet on 31.3.2018Ralownte sheet as onas follows31-3-2018Particular2Particulasitors15000 Cash in bank hand. 150and's loan5ooo16DebtorsPayable 10,0008000Bills ReceivableK loanCash at Bank22000bit & Loss Alctals: Anand.InvestmentMachinery20,000
Answer» ANSWER: Anand, chandru and vijay are partner's sharing profil oss in the ratio of 9:21 Theis BALANCE sheet on 31.3.2018 Ralownte sheet as on as follows 31-3-2018 Particular 2 Particulas itors 15000 Cash in BANK hand. 150 and's loan 5ooo 16 Debtors Payable 10,000 8000 Bills Receivable K loan Cash at Bank 22000 bit & LOSS Alc tals: Anand .

913.

Anand, chandru and vijayare partner's sharing profiloss in the ratio of 9:21 Theis Balance sheet on 31.3.2018Ralownte sheet as onas follows31-3-2018Particular2Particulasitors15000 Cash in bank hand. 150and's loan5ooo16DebtorsPayable 10,0008000Bills ReceivableK loanCash at Bank22000bit & Loss Alctals: Anand.InvestmentMachinery20,000

Answer»

ANSWER:

Anand, chandru and vijay

are partner's sharing profil

oss in the ratio of 9:21 Theis BALANCE sheet on 31.3.2018

Ralownte sheet as on

as follows

31-3-2018

Particular

2

Particulas

itors

15000 Cash in BANK hand. 150

and's loan

5ooo

16

Debtors

Payable 10,000

8000

Bills Receivable

K loan

Cash at Bank

22000

bit & LOSS Alc

tals: Anand

.

Discussion

914.	X and Y are partners in a firm sharing profits and losses in the ratio of 3 : 1. They admit Z aspartner for 175th share of future profits of the firm. Z introduces 40,000, out of which 20,000is towards goodwill of the firm. You are asked to Journalise the above transactions in the booksof the firm.Ans. Z's Capital 20,000; Premium (Dr.) * 20,000; X's Capital (Cr.) 15,000; Y's Capital (Cr.)*5,000.]
Answer» Answer:3:2. On April 1, 2015 they ADMITTED JOHN as a new partner with 1/6 share in profits of ... For example, X,Y and Z are partners in a firm sharing profits in the ratio. 3:2:1. ... For example, if the past average profits of a business WORKS out at Rs. 20,000 ... The above calculation of GOODWILL is based on the assumption that no change. Explanation:

914.

X and Y are partners in a firm sharing profits and losses in the ratio of 3 : 1. They admit Z aspartner for 175th share of future profits of the firm. Z introduces 40,000, out of which 20,000is towards goodwill of the firm. You are asked to Journalise the above transactions in the booksof the firm.Ans. Z's Capital 20,000; Premium (Dr.) * 20,000; X's Capital (Cr.) 15,000; Y's Capital (Cr.)*5,000.]

Answer»

Answer:3:2. On April 1, 2015 they ADMITTED JOHN as a new partner with 1/6 share in profits of ... For example, X,Y and Z are partners in a firm sharing profits in the ratio. 3:2:1. ... For example, if the past average profits of a business WORKS out at Rs. 20,000 ... The above calculation of GOODWILL is based on the assumption that no change.

Explanation:

Discussion

915.	A and B are partners sharing profits in the ratio of 4:1. A surrenders 1/4th of his share and Bsurrenders 1/2 of his share in favour of C, a new partner. What is the sacrificing ratio and the1 1New Ratio A:B:C = 6:1:3 or -3 1 3(Ans. Sacrificing Ratio A:B:2:1 or5 105 10 10new profit-sharing ratio ?
Answer» Answer 6:2:2 OLD RATIO (A : B) = 7 : 3 *Sacrificing ratio = Old ratio suurender share A's sacrificing ratio = (7/10) * (1/7) = 1/10 B's sacrificing ratio = (3/10) * (1/3) = 1/10 New share = Old share - sacrificing ratio A's new share = (7/10) - (1/10) = (6/10) B's new share = (3/10) - (1/10) = (2/10) C's share = Sacrificing ratio of A and B Explanation: 6:2:2 Old ratio (A : B) = 7 : 3 Sacrificing ratio = Old ratio * suurender share A's sacrificing ratio = (7/10) * (1/7) = 1/10 B's sacrificing ratio = (3/10) * (1/3) = 1/10 New share = Old share - sacrificing ratio A's new share = (7/10) - (1/10) = (6/10) B's new share = (3/10) - (1/10) = (2/10) C's share = Sacrificing ratio of A and B**

915.

A and B are partners sharing profits in the ratio of 4:1. A surrenders 1/4th of his share and Bsurrenders 1/2 of his share in favour of C, a new partner. What is the sacrificing ratio and the1 1New Ratio A:B:C = 6:1:3 or -3 1 3(Ans. Sacrificing Ratio A:B:2:1 or5 105 10 10new profit-sharing ratio ?

Answer»

Answer 6:2:2

OLD RATIO (A : B) = 7 : 3

Sacrificing ratio = Old ratio * suurender share

A's sacrificing ratio = (7/10) * (1/7) = 1/10

B's sacrificing ratio = (3/10) * (1/3) = 1/10

New share = Old share - sacrificing ratio

A's new share = (7/10) - (1/10) = (6/10)

B's new share = (3/10) - (1/10) = (2/10)

C's share = Sacrificing ratio of A and B

Explanation:

6:2:2

Old ratio (A : B) = 7 : 3

Sacrificing ratio = Old ratio * suurender share

A's sacrificing ratio = (7/10) * (1/7) = 1/10

B's sacrificing ratio = (3/10) * (1/3) = 1/10

New share = Old share - sacrificing ratio

A's new share = (7/10) - (1/10) = (6/10)

B's new share = (3/10) - (1/10) = (2/10)

C's share = Sacrificing ratio of A and B

Discussion

916.	CASH FLOW STATEMENTQ1 The following is the Balance Sheet of Pawan Ltd. as at 31st March, 2019, prepare a Cash Flow Statement:ParticularsNote No.2018-19 (Rs.)2017-18 (Rs.)I. EQUITY AND LIABILITIES (1) Shareholders Funds (a) Share Capital (b) Reserves and Surplus (2) Non-Current Liabilities Long-term Borrowings (3) Current Liabilities (a) Trade Payables (b) Short Term-Provisions112,00,0003,00,0002,40,0001,79,00050,00011,00,0002,00,0001,70,0002,04,00077,000Total19,69,00017,51,000II. ASSETS (1) Non-Current Assets (a) Fixed Assets (i) Tangible Assets (ii) Intangible Assets (2) Current Assets (a)Current Investments (Marketable Securities) (b) Inventories (c) Trade Receivables (d)Cash and Cash Equivalents 2310,70,00040,0002,40,0001,29,0001,70,0003,20,0008,50,0001,12,0001,50,0001,21,0001,43,0003,75,000Total19,69,00017,51,000Note to Accounts2018-19(Rs.)2017-18 (Rs.)Reserves and Surplus:Surplus, i.e., Balance in Statement of Profit and loss (2) Tangible Assets:MachineryLess: Accumulated DepreciationIntangible Assets:Goodwill3,00,0001270000(2,00000)1070000 40,0002,00,00010,00,000(1,50,000) 8,50,0001,12,000Additional information:During the year a piece of machinery, costing Rs. 24,000 on which accumulated depreciation was Rs. 16,000, was sold for Rs. 6,000.Q 2 The following is the Balance Sheet of NXG Ltd. as at 31st March, 2019, prepare a Cash Flow Statement:Balance Sheet as at 31st March, 2017ParticularsNote No.31.3.201931.3.2018I – EQUITY AND LIABILITIES 1. Shareholder’s Funds:(a) Share Capital 15,00,000 10,00,000(b) Reserves and Surplus (Balance in Statement of Profit and Loss)7,50,000 6,00,0002. Non-Current Liabilities:Long-term Borrowings 11,00,0002,00,0003. Current Liabilities:(a) Trade Payables 1,00,000 1,10,000(b) Short-term Provisions 2 95,000 80,000Total 25,45,000 9,90,000II – ASSETS1. Non-Current Assets:(a) Fixed Assets:(i) Tangible Assets 310,10,000 9,00,000(ii) Intangible Assets 42,80,000 2,00,000(b) Non-Current Investments: 5,00,000 —2. Current Assets:(a) Inventories 1,80,000 1,00,000(b) Trade Receivables 2,00,000 1,50,000(c) Cash and Cash Equivalents 53,75,000 6,40,000Total 25,45,000 19,90,000Notes to Accounts :Note No.Particulars31.3.201931.3.20181.Long-term Borrowings :9% Debentures1,00,0002,00,0001,00,000 2,00,0002.Short-term Provisions :Provision for Tax95,00080,00095,000 80,0003.Tangible Assets :Plant and Machinery12,10,00011,40,000Accumulated Depreciation(2,00,000) (2,40,000)10,10,0009,00,0004.Intangible Assets :Goodwill2,80,0002,00,0002,80,0002,00,0005.Cash and Cash Equivalents :(i) Cash in Hand70,0003,50,000(ii) Bank Balance3,05,0002,90,0003,75,000 6,40,000Additional Information :(i) During the year, a machine costing Rs.80,000 on which accumulated depreciation was Rs.50,000 was sold for Rs.30,000.(ii) 9% Debentures were redeemed on 31st March, 2019.6
Answer» Answer: From the following Balance Sheet and information of Sun Ltd., prepare Cash Flow Statement: PARTICULARS Note No. ... I. EQUITY AND LIABILITIES ... 2019. (₹). 31st MARCH,. 2018. (₹). 1. Share Capital. Equity Share Capital ... calculated on the value as on 31st March, 2018 as Rs. 1,00,000 PREFERENCE Shares ... Explanation:

916.

CASH FLOW STATEMENTQ1 The following is the Balance Sheet of Pawan Ltd. as at 31st March, 2019, prepare a Cash Flow Statement:ParticularsNote No.2018-19 (Rs.)2017-18 (Rs.)I. EQUITY AND LIABILITIES (1) Shareholders Funds (a) Share Capital (b) Reserves and Surplus (2) Non-Current Liabilities Long-term Borrowings (3) Current Liabilities (a) Trade Payables (b) Short Term-Provisions112,00,0003,00,0002,40,0001,79,00050,00011,00,0002,00,0001,70,0002,04,00077,000Total19,69,00017,51,000II. ASSETS (1) Non-Current Assets (a) Fixed Assets (i) Tangible Assets (ii) Intangible Assets (2) Current Assets (a)Current Investments (Marketable Securities) (b) Inventories (c) Trade Receivables (d)Cash and Cash Equivalents 2310,70,00040,0002,40,0001,29,0001,70,0003,20,0008,50,0001,12,0001,50,0001,21,0001,43,0003,75,000Total19,69,00017,51,000Note to Accounts2018-19(Rs.)2017-18 (Rs.)Reserves and Surplus:Surplus, i.e., Balance in Statement of Profit and loss (2) Tangible Assets:MachineryLess: Accumulated DepreciationIntangible Assets:Goodwill3,00,0001270000(2,00000)1070000 40,0002,00,00010,00,000(1,50,000) 8,50,0001,12,000Additional information:During the year a piece of machinery, costing Rs. 24,000 on which accumulated depreciation was Rs. 16,000, was sold for Rs. 6,000.Q 2 The following is the Balance Sheet of NXG Ltd. as at 31st March, 2019, prepare a Cash Flow Statement:Balance Sheet as at 31st March, 2017ParticularsNote No.31.3.201931.3.2018I – EQUITY AND LIABILITIES 1. Shareholder’s Funds:(a) Share Capital 15,00,000 10,00,000(b) Reserves and Surplus (Balance in Statement of Profit and Loss)7,50,000 6,00,0002. Non-Current Liabilities:Long-term Borrowings 11,00,0002,00,0003. Current Liabilities:(a) Trade Payables 1,00,000 1,10,000(b) Short-term Provisions 2 95,000 80,000Total 25,45,000 9,90,000II – ASSETS1. Non-Current Assets:(a) Fixed Assets:(i) Tangible Assets 310,10,000 9,00,000(ii) Intangible Assets 42,80,000 2,00,000(b) Non-Current Investments: 5,00,000 —2. Current Assets:(a) Inventories 1,80,000 1,00,000(b) Trade Receivables 2,00,000 1,50,000(c) Cash and Cash Equivalents 53,75,000 6,40,000Total 25,45,000 19,90,000Notes to Accounts :Note No.Particulars31.3.201931.3.20181.Long-term Borrowings :9% Debentures1,00,0002,00,0001,00,000 2,00,0002.Short-term Provisions :Provision for Tax95,00080,00095,000 80,0003.Tangible Assets :Plant and Machinery12,10,00011,40,000Accumulated Depreciation(2,00,000) (2,40,000)10,10,0009,00,0004.Intangible Assets :Goodwill2,80,0002,00,0002,80,0002,00,0005.Cash and Cash Equivalents :(i) Cash in Hand70,0003,50,000(ii) Bank Balance3,05,0002,90,0003,75,000 6,40,000Additional Information :(i) During the year, a machine costing Rs.80,000 on which accumulated depreciation was Rs.50,000 was sold for Rs.30,000.(ii) 9% Debentures were redeemed on 31st March, 2019.6

Answer»

Answer: From the following Balance Sheet and information of Sun Ltd., prepare Cash Flow Statement: PARTICULARS Note No. ... I. EQUITY AND LIABILITIES ... 2019. (₹). 31st MARCH,. 2018. (₹). 1. Share Capital. Equity Share Capital ... calculated on the value as on 31st March, 2018 as Rs. 1,00,000 PREFERENCE Shares ...

Explanation:

Discussion

917.	Q 2 The following is the Balance Sheet of NXG Ltd. as at 31st March, 2019, prepare a Cash Flow Statement:Balance Sheet as at 31st March, 2017ParticularsNote No.31.3.201931.3.2018I – EQUITY AND LIABILITIES 1. Shareholder’s Funds:(a) Share Capital 15,00,000 10,00,000(b) Reserves and Surplus (Balance in Statement of Profit and Loss)7,50,000 6,00,0002. Non-Current Liabilities:Long-term Borrowings 11,00,0002,00,0003. Current Liabilities:(a) Trade Payables 1,00,000 1,10,000(b) Short-term Provisions 2 95,000 80,000Total 25,45,000 9,90,000II – ASSETS1. Non-Current Assets:(a) Fixed Assets:(i) Tangible Assets 310,10,000 9,00,000(ii) Intangible Assets 42,80,000 2,00,000(b) Non-Current Investments: 5,00,000 —2. Current Assets:(a) Inventories 1,80,000 1,00,000(b) Trade Receivables 2,00,000 1,50,000(c) Cash and Cash Equivalents 53,75,000 6,40,000Total 25,45,000 19,90,000
Answer» Answer: Particulars. NOTE No. 31ST March, 2019. (₹). 31st March, 2018. (₹). I. EQUITY AND LIABILITIES. 1. Shareholders' Funds. (a) Share CAPITAL ... Surplus i.e., Balance in Statement of PROFIT and Loss. 4,00,000. 2,00,000 ... 2,85,000. B. Cash Flow from INVESTING Activities. Sale of Fixed Assets. 50,000. Purchase of .. Explanation:

917.

Q 2 The following is the Balance Sheet of NXG Ltd. as at 31st March, 2019, prepare a Cash Flow Statement:Balance Sheet as at 31st March, 2017ParticularsNote No.31.3.201931.3.2018I – EQUITY AND LIABILITIES 1. Shareholder’s Funds:(a) Share Capital 15,00,000 10,00,000(b) Reserves and Surplus (Balance in Statement of Profit and Loss)7,50,000 6,00,0002. Non-Current Liabilities:Long-term Borrowings 11,00,0002,00,0003. Current Liabilities:(a) Trade Payables 1,00,000 1,10,000(b) Short-term Provisions 2 95,000 80,000Total 25,45,000 9,90,000II – ASSETS1. Non-Current Assets:(a) Fixed Assets:(i) Tangible Assets 310,10,000 9,00,000(ii) Intangible Assets 42,80,000 2,00,000(b) Non-Current Investments: 5,00,000 —2. Current Assets:(a) Inventories 1,80,000 1,00,000(b) Trade Receivables 2,00,000 1,50,000(c) Cash and Cash Equivalents 53,75,000 6,40,000Total 25,45,000 19,90,000

Answer»

Answer: Particulars. NOTE No. 31ST March, 2019. (₹). 31st March, 2018. (₹). I. EQUITY AND LIABILITIES. 1. Shareholders' Funds. (a) Share CAPITAL ... Surplus i.e., Balance in Statement of PROFIT and Loss. 4,00,000. 2,00,000 ... 2,85,000. B. Cash Flow from INVESTING Activities. Sale of Fixed Assets. 50,000. Purchase of ..

Explanation:

Discussion

918.	3. Mohit has the following transactions, prepare accounting equation:(a) Business started with cash* 1,75,000(b) Purchased goods from Rohit50,000(c) Sales goods on credit to Manish (Costing * 17,500)20,000!(d) Purchased furniture for office use10,000(e) Cash paid to Rohit in full settlement48,500(f) Çash received from Manish20,000(g) Rent paid1,000(h) Cash withdrew for personal use73.000F7H0n3
Answer» Answer: a. Cash Dr 175000 To capital Cr 175000 (Being business started with cash.) b. Purchase Dr 50000 To Rohit Cr. 50000 (Being Goods bought from Rohit.) C. MANISH. Dr20000 To Sales Cr. 17500 To profit on sale of goods Cr 2500 (Being Goods sold to Manish and RECEIVED sales on profit.) d. Furniture. Dr 10000 To Cash /Bank Cr. 10000 (Being furniture bought for office use.) e. Rohit. Dr. 50000 To Cash Cr. 48500 To Discount Received Cr 1500 (Being amount paid to Rohit and discount Received.) f. Cash. Dr 20000 To Manish Cr. 20000 (Being amount received from manish in cash.) g. Rent. Dr 1000 To cash/ Bank Cr 1000 (Being rent paid in cash/ Bank.) h. Drawing Dr 73000 To Bank Cr 73000 (Being cash withdrawal for PERSONAL use.)

918.

3. Mohit has the following transactions, prepare accounting equation:(a) Business started with cash* 1,75,000(b) Purchased goods from Rohit50,000(c) Sales goods on credit to Manish (Costing * 17,500)20,000!(d) Purchased furniture for office use10,000(e) Cash paid to Rohit in full settlement48,500(f) Çash received from Manish20,000(g) Rent paid1,000(h) Cash withdrew for personal use73.000F7H0n3

Answer»

Answer:

a. Cash Dr 175000

To capital Cr 175000

(Being business started with cash.)

b. Purchase Dr 50000

To Rohit Cr. 50000

(Being Goods bought from Rohit.)

C. MANISH. Dr20000

To Sales Cr. 17500

To profit on sale of goods Cr 2500

(Being Goods sold to Manish and RECEIVED sales on profit.)

d. Furniture. Dr 10000

To Cash /Bank Cr. 10000

(Being furniture bought for office use.)

e. Rohit. Dr. 50000

To Cash Cr. 48500

To Discount Received Cr 1500

(Being amount paid to Rohit and discount Received.)

f. Cash. Dr 20000

To Manish Cr. 20000

(Being amount received from manish in cash.)

g. Rent. Dr 1000

To cash/ Bank Cr 1000

(Being rent paid in cash/ Bank.)

h. Drawing Dr 73000

To Bank Cr 73000

(Being cash withdrawal for PERSONAL use.)

Discussion

919.	32) Anshuman, Bhavya & Janya are partners sharing profit-loss in the ratio of 43.2. At the end of the yearafier the preparation of final account it is realized that, computation of interest on drawings is missed outInterest on drawings was Rs 1000, RS 900 Rs 800 respectively. Write journal entry for rectification.
Answer» Answer:partner, ratio in which the profits and the losses will be shared by the partners and entitlement ... amount of capital CONTRIBUTED by him in the firm as a matter of right. ... All items LIKE share of profit or loss, interest on capital, drawings, interest ... Loss Account for the year ENDING March 31, 2015 was Rs. 35,660. Explanation:

919.

32) Anshuman, Bhavya & Janya are partners sharing profit-loss in the ratio of 43.2. At the end of the yearafier the preparation of final account it is realized that, computation of interest on drawings is missed outInterest on drawings was Rs 1000, RS 900 Rs 800 respectively. Write journal entry for rectification.

Answer»

Answer:partner, ratio in which the profits and the losses will be shared by the partners and entitlement ... amount of capital CONTRIBUTED by him in the firm as a matter of right. ... All items LIKE share of profit or loss, interest on capital, drawings, interest ... Loss Account for the year ENDING March 31, 2015 was Rs. 35,660.

Explanation:

Discussion

920.	Proportion to their capitaleAns. Realisation Profit* 50,000, Cash Payable to Sunny 8.333, Kuki 1,667. Parches€1,50.0001TAऔर के व्यवसाद को कम करने के लिए लि. की स्थापना हुई। A और B लाभ-हानि:1 के अनुपान परहै। 31.12.2016 को उनका आर्थिक विडा लिन धारX Co Ltd. was formed to acquire the business of A and B who share profits & louses in theof 2:1 respectively. Their Balance Sheet on 31.12.2016 was as underafara (Liabilities)सम्पत्तियाँ (Assets)Amount)NET (Bills Payable)7.200/ ख्याति (Goodwimविविध लेनदार (Sundry Creditare) 21.600/ बैंक में रोकड (Cash at Bank)at AH (Mrs. As Loan)3,200/ विनियोग (Investments)पूंजी (Capital):a fe (Bills Receivable)A64,000देनदार (Debtors)40,000 1,04.000/स्टॉक (Stock)मशीनरी (Machinery)भूमि एवं भवन (Land & Building)1,36,00040,0001,360कम्पनी सम्पत्तियों को पुस्तकोय मूल्य पर लेगो सिर्फ भूमि एवं भवन व स्टॉक को छोड़कर जिन्हें क्रमश: ₹ 45,000₹ 20,000 पर लिया गया। विनियोग को कर्म ने स्वयं रख लिया जिन्हें ₹ 4.000 में बेच दिया। उन लोगों ने योभतो AREका दिया। कम्पनी ने शेष दायित्वों को ले लिया। ख्याति का मूल्यांकन ₹ 28,500 पर किया गया।
Answer» Answer: 2 (C): Classify the ACCOUNTS into Assets, Liabilities, Income, Expenditure and CAPITAL (3M) (1) GOODS A/C (2) Wages A/C (3) Loan A/C (4) Debtors A/C (5) CREDITORS A/C (6) Furniture A/C (7) Bills Receivable A/C (8) Meena's Capital A/c (9) Drawing A/C (10) Discount A/C (11) Rent Received A/c (12) Building A/C CANA

920.

Proportion to their capitaleAns. Realisation Profit* 50,000, Cash Payable to Sunny 8.333, Kuki 1,667. Parches€1,50.0001TAऔर के व्यवसाद को कम करने के लिए लि. की स्थापना हुई। A और B लाभ-हानि:1 के अनुपान परहै। 31.12.2016 को उनका आर्थिक विडा लिन धारX Co Ltd. was formed to acquire the business of A and B who share profits & louses in theof 2:1 respectively. Their Balance Sheet on 31.12.2016 was as underafara (Liabilities)सम्पत्तियाँ (Assets)Amount)NET (Bills Payable)7.200/ ख्याति (Goodwimविविध लेनदार (Sundry Creditare) 21.600/ बैंक में रोकड (Cash at Bank)at AH (Mrs. As Loan)3,200/ विनियोग (Investments)पूंजी (Capital):a fe (Bills Receivable)A64,000देनदार (Debtors)40,000 1,04.000/स्टॉक (Stock)मशीनरी (Machinery)भूमि एवं भवन (Land & Building)1,36,00040,0001,360कम्पनी सम्पत्तियों को पुस्तकोय मूल्य पर लेगो सिर्फ भूमि एवं भवन व स्टॉक को छोड़कर जिन्हें क्रमश: ₹ 45,000₹ 20,000 पर लिया गया। विनियोग को कर्म ने स्वयं रख लिया जिन्हें ₹ 4.000 में बेच दिया। उन लोगों ने योभतो AREका दिया। कम्पनी ने शेष दायित्वों को ले लिया। ख्याति का मूल्यांकन ₹ 28,500 पर किया गया।

Answer»

Answer:

2 (C): Classify the ACCOUNTS into Assets, Liabilities, Income, Expenditure and CAPITAL (3M)

(1) GOODS A/C

(2) Wages A/C

(3) Loan A/C

(4) Debtors A/C

(5) CREDITORS A/C

(6) Furniture A/C

(7) Bills Receivable A/C (8) Meena's Capital A/c (9) Drawing A/C

(10) Discount A/C

(11) Rent Received A/c (12) Building A/C

CANA

Discussion

921.	On intra-state sale of goods, GST charged is(A) CGST and IGST (C) CGST and SGST(B) SGST and IGST(D) CGST,SGST and IGST
Answer» ANSWER: (A)CGST and IGST i HOPE so its HELPFUL

921.

On intra-state sale of goods, GST charged is(A) CGST and IGST (C) CGST and SGST(B) SGST and IGST(D) CGST,SGST and IGST

Answer»

ANSWER:

(A)CGST and IGST

i HOPE so its HELPFUL

Discussion

922.	Balance in the Petty Cash Book is(A) An expenses (B) An Assetsy (C) A Profit(D) None of these
Answer» Answer: ( A ) . An expense Explanation: HOPE IT IS USEFUL TO YOUPLEASE THANKS ME AND MARK ME AS BRAINLIEST

922.

Balance in the Petty Cash Book is(A) An expenses (B) An Assetsy (C) A Profit(D) None of these

Answer»

Answer:

( A ) . An expense

Explanation:

HOPE IT IS USEFUL TO YOUPLEASE THANKS ME AND MARK ME AS BRAINLIEST

Discussion

923.	Bought goods from Manohar Traders for Rs.140,000on 5 % Trade Discount and paid Rs. 13,000 in cash:
Answer» Answer: Firstly, note that all types of discounts on purchases (e.g trade discount, cash discounts, rebates, etc) are treated as INDIRECT revenue (debit for decrease & credit for increase). Trade Discount: 20% of 10,000 = Rs. 2,000 First SCENARIO: Cash/Cheque Purchase. In this case, the journal entry will be as FOLLOWS: Dr. Purchases Account(purchase of GOODS alc) Rs. 10,0000 Cr Trade Discount Account Rs. 2,000 Cr Cash/Bank Account Rs. 8,000 Second scenario: Credit Purchase. In this case, the journal entry will be as follows: Dr. Purchases Account(purchase of goods alc) Rs. 10,0000 Cr Trade Discount Account Rs. 2,000 Cr Accounts Payables (Govind) Rs. 8,000 Hope this reply helps

923.

Bought goods from Manohar Traders for Rs.140,000on 5 % Trade Discount and paid Rs. 13,000 in cash:

Answer»

Answer:

Firstly, note that all types of discounts on purchases (e.g trade discount, cash discounts, rebates, etc) are treated as INDIRECT revenue (debit for decrease & credit for increase).

Trade Discount: 20% of 10,000 = Rs. 2,000

First SCENARIO: Cash/Cheque Purchase.

In this case, the journal entry will be as FOLLOWS:

Dr. Purchases Account(purchase of GOODS alc) Rs. 10,0000

Cr Trade Discount Account Rs. 2,000

Cr Cash/Bank Account Rs. 8,000

Second scenario: Credit Purchase.

In this case, the journal entry will be as follows:

Dr. Purchases Account(purchase of goods alc) Rs. 10,0000

Cr Trade Discount Account Rs. 2,000

Cr Accounts Payables (Govind) Rs. 8,000

Hope this reply helps

Discussion

924.	If the capital of a business is Rs 300000 and liabilities are Rs 50000 loss Rs 70000 totalassets of the business.(a) Rs 420000(b) Rs 280000(c) 320000(d) 180000
Answer» ANSWER: OPTION (C) Explanation: 300,000-50,000+70,000

924.

If the capital of a business is Rs 300000 and liabilities are Rs 50000 loss Rs 70000 totalassets of the business.(a) Rs 420000(b) Rs 280000(c) 320000(d) 180000

Answer»

ANSWER:

OPTION (C)

Explanation:

300,000-50,000+70,000

Discussion

925.	Shyam is a furniture dealer. Which one of the following will not be recorded in his book?(a) Purchase of Timber for Rs 1,00,000(b) Sofa set worth Rs 80,000 use in office use(c) Sale of household furniture for Rs 10,000(d) Dining table of Rs 30,000 given to his friend as gift
Answer» ANSWER: (d) DINING table of rs 30000 given to his Friend as gift Explanation: mark me as brainlist and THANK my answer

925.

Shyam is a furniture dealer. Which one of the following will not be recorded in his book?(a) Purchase of Timber for Rs 1,00,000(b) Sofa set worth Rs 80,000 use in office use(c) Sale of household furniture for Rs 10,000(d) Dining table of Rs 30,000 given to his friend as gift

Answer»

ANSWER:

(d) DINING table of rs 30000 given to his Friend as gift

Explanation:

mark me as brainlist and THANK my answer

Discussion

926.	DatePage$100.000 equity shoes of F 10 cach issued and fullysubs.coibed and called-ulp at 20% premium calculateamount of equity share capita
Answer» EXPLANATION: jkwiwbdbdjskaksbxbxbskakd

926.

DatePage$100.000 equity shoes of F 10 cach issued and fullysubs.coibed and called-ulp at 20% premium calculateamount of equity share capita

Answer»

EXPLANATION:

jkwiwbdbdjskaksbxbxbskakd

Discussion

927.	अथवा31 जनवरी, 2011 को A, B और C का निम्नलिखित चिट्ठा है-धनराशि (१) सम्पत्तियाँधनराशि (१)पूँजी एवं दायित्वलेनदारपूँजी खाते :5,000ABC C3,0003,0004,000नकदबैंकदेनदारप्राप्य विपत्ररहतियामशीनरी10,0001,5001,5002,0002,0003,0005,00015,00015,000:C अवकाश ग्रहण करता है और निम्नलिखित समायोजनाएं की जाती हैं(अ) फर्म की कुल ख्याति में C का हिस्सा ₹ 3,000 मूल्यांकित किया जाए।(ब) स्टॉक में 15% की अभिवृद्धि की जाए।(स) मशीन को 10% से ह्रासित किया जाए।(द) संदिग्ध ऋणों के लिए 5% संचिति करना है।(य) अदत्त व्ययों के लिए ₹ 200 का प्रावधान करना है।हानि समायोजन खाता, साझेदारों के पूँजी खाते और नया आर्थिक चिट्ठा बनाइए।ला
Answer» ANSWER: jvkfhdnelsh djrkjhfbd SM ekhdjdjdbdb elrbrnnz smejtbfb d dmkdhrvrbd rkkdhdh EXPLANATION: gcjscschcgxg bchfgxgcg hdjftavj bzfdhggd

927.

अथवा31 जनवरी, 2011 को A, B और C का निम्नलिखित चिट्ठा है-धनराशि (१) सम्पत्तियाँधनराशि (१)पूँजी एवं दायित्वलेनदारपूँजी खाते :5,000ABC C3,0003,0004,000नकदबैंकदेनदारप्राप्य विपत्ररहतियामशीनरी10,0001,5001,5002,0002,0003,0005,00015,00015,000:C अवकाश ग्रहण करता है और निम्नलिखित समायोजनाएं की जाती हैं(अ) फर्म की कुल ख्याति में C का हिस्सा ₹ 3,000 मूल्यांकित किया जाए।(ब) स्टॉक में 15% की अभिवृद्धि की जाए।(स) मशीन को 10% से ह्रासित किया जाए।(द) संदिग्ध ऋणों के लिए 5% संचिति करना है।(य) अदत्त व्ययों के लिए ₹ 200 का प्रावधान करना है।हानि समायोजन खाता, साझेदारों के पूँजी खाते और नया आर्थिक चिट्ठा बनाइए।ला

Answer»

ANSWER:

jvkfhdnelsh djrkjhfbd SM ekhdjdjdbdb elrbrnnz smejtbfb d dmkdhrvrbd rkkdhdh

EXPLANATION:

gcjscschcgxg bchfgxgcg hdjftavj bzfdhggd

Discussion

928.	• . Average capital employed14,00,000. Net profit 2011 2,50,0002012 1,00,000 (loss) 2013 4,50,000 NRR10% Goodwill at 3 years' purchase ofsuper profit will be
Answer» Explanation: Average profit = Total Trade profits/ NUMBER of years profits = 250000+ 450000 - 100000/5 = 700000-100000/5 = 600000/5 = RS. 1,20,000 NORMAL profit = AVG capital employed X Normal Rate of return = 14,00,000 X 10/100 = Rs. 1,40,000 Note : we are not calculated SUPER profit because the excess of normal profit over Avg profit super profit = Avg profit - super profit = 120000 - 140000 = - 20,000

928.

• . Average capital employed14,00,000. Net profit 2011 2,50,0002012 1,00,000 (loss) 2013 4,50,000 NRR10% Goodwill at 3 years' purchase ofsuper profit will be

Answer»

Explanation:

Average profit = Total Trade profits/ NUMBER of

years profits

= 250000+ 450000 - 100000/5

= 700000-100000/5

= 600000/5

= RS. 1,20,000

NORMAL profit = AVG capital employed X Normal

Rate of return

= 14,00,000 X 10/100

= Rs. 1,40,000

Note : we are not calculated SUPER profit because the excess of normal profit over Avg profit

super profit = Avg profit - super profit

= 120000 - 140000

= - 20,000

Discussion

929.	(i) X and Y are Partners sharing profits in the ratio 7:3 was admitted. The new Partneracquires his 1/10th share entirely from X. (ii) A and B are Partners sharing profits in the ratio of 3:2. They admitted C for 1/5thshare which he acquires from B.
Answer» ANSWER: A=3.2 ,B=7.3 is the answer LIKE RATE and FOLLOW

929.

(i) X and Y are Partners sharing profits in the ratio 7:3 was admitted. The new Partneracquires his 1/10th share entirely from X. (ii) A and B are Partners sharing profits in the ratio of 3:2. They admitted C for 1/5thshare which he acquires from B.

Answer»

ANSWER:

A=3.2 ,B=7.3 is the answer LIKE RATE and FOLLOW

Discussion

930.	Discuss FIVE reasons why the balance shown at the bank column of the cash book doesnot agree with the balance shown on the bank statement
Answer» ANSWER: hi HELLO WT r U doing GUD afternoon

930.

Discuss FIVE reasons why the balance shown at the bank column of the cash book doesnot agree with the balance shown on the bank statement

Answer»

ANSWER:

hi HELLO WT r U doing GUD afternoon

Discussion

931.	Inregistrati in contabilitate folosind etapele analizei contabile1 se cumpără materiale consumabile in valoare de 400 de lei de la furnizor2
Answer» ANSWER: I don't UNDERSTAND this question. Please MARK me as BRAINLIST

931.

Inregistrati in contabilitate folosind etapele analizei contabile1 se cumpără materiale consumabile in valoare de 400 de lei de la furnizor2

Answer»

ANSWER:

I don't UNDERSTAND this question.

Please MARK me as BRAINLIST

Discussion

932.	Q.Capital expenditure is shown -a) By adding to capital account in Balance Sheet.b) By deducting from capital account in Balance Sheet.c) On Assets sided) Debit side of P&L Account.
Answer» The capital expenditures INCREASE the RESPECTIVE ASSET accounts which are reported in the noncurrent asset SECTION of the balance sheet entitled property, plant and equipment.

Discussion

933.	-1 Assets are cash in hand Rs.22, Bank Rs.38, Plant & Machinery Rs.5, Furniture & Fixture Rs.99 and liability are Mr.Rs.2000, capital Rs.10000.Jan-2 Sold goods by cash to Ram Rs.100Jan-3 Sold goods to shyam Rs.200Jan-4 Goods return by Shyam Rs.14Jan-5 carriage outward paid Rs.50Jan-6 Carriage in ward paid Rs.100Jan-7 Cheque paid to Mr. Rs 1980 in full settlement of his Account.Jan-8 Sold goods by cash Rs.80, Paid telephone bill Rs.500, purchased goods from Mr. Y Rs.20
Answer» Answer: Science, any system of knowledge that is concerned with the PHYSICAL world and its phenomena and that ENTAILS unbiased observations and systematic experimentation. In general, a science involves a PURSUIT of knowledge covering general truths or the operations of FUNDAMENTAL laws.

933.

-1 Assets are cash in hand Rs.22, Bank Rs.38, Plant & Machinery Rs.5, Furniture & Fixture Rs.99 and liability are Mr.Rs.2000, capital Rs.10000.Jan-2 Sold goods by cash to Ram Rs.100Jan-3 Sold goods to shyam Rs.200Jan-4 Goods return by Shyam Rs.14Jan-5 carriage outward paid Rs.50Jan-6 Carriage in ward paid Rs.100Jan-7 Cheque paid to Mr. Rs 1980 in full settlement of his Account.Jan-8 Sold goods by cash Rs.80, Paid telephone bill Rs.500, purchased goods from Mr. Y Rs.20

Answer»

Answer:

Science, any system of knowledge that is concerned with the PHYSICAL world and its phenomena and that ENTAILS unbiased observations and systematic experimentation. In general, a science involves a PURSUIT of knowledge covering general truths or the operations of FUNDAMENTAL laws.

Discussion

934.	The period of accounting is-(a). 6 months(b). 3 months(c). 12 months (d). 1 monthsHow many types of A/c b are there?(a). 1(b). 2.(C). 3(d). 4The branch of accounting are(a) Financial accounts (b) cost accounts (C) management accounts all of abovePrinciple of double entry system is-(a) Effect on two accounts (b) Posting in both accounts (c) two sides of accounts (d) all of above.Salary paid will(a) Increase the capital (b) reduce of capital (c) not change the capital (d) increase the profit
Answer» Answer: 1. (C) 3 2. (d) All of the above 3. (d) All of above 4. (b) Reduce the CAPITAL

934.

The period of accounting is-(a). 6 months(b). 3 months(c). 12 months (d). 1 monthsHow many types of A/c b are there?(a). 1(b). 2.(C). 3(d). 4The branch of accounting are(a) Financial accounts (b) cost accounts (C) management accounts all of abovePrinciple of double entry system is-(a) Effect on two accounts (b) Posting in both accounts (c) two sides of accounts (d) all of above.Salary paid will(a) Increase the capital (b) reduce of capital (c) not change the capital (d) increase the profit

Answer»

Answer:

1. (C) 3

2. (d) All of the above

3. (d) All of above

4. (b) Reduce the CAPITAL

Discussion

935.	24. Prepare Building Account:June 1 Purchased semi-constructed buildingJune 10 Paid for repairs and renovation to completeJune 14 Sold half portion of the buildingJune 18 Purchased another buildingJune 20 Depreciate buildingRs. 10,00,000Rs. 1,00,000Rs. 9,00,000Rs. 7,50,000Rs. 35,000
Answer» BULIDING ACCOUNT is SHOWN in the above IMAGE.

935.

24. Prepare Building Account:June 1 Purchased semi-constructed buildingJune 10 Paid for repairs and renovation to completeJune 14 Sold half portion of the buildingJune 18 Purchased another buildingJune 20 Depreciate buildingRs. 10,00,000Rs. 1,00,000Rs. 9,00,000Rs. 7,50,000Rs. 35,000

Answer»

BULIDING ACCOUNT is SHOWN in the above IMAGE.

Discussion

936.	A private employee received a salary Rs. 120000and entertainment allowance Rs. 10000 duringthe previous year, he spends Rs. 6000 onentertainment. he is entitled to deduction undersection 16(ii).a. Rs. 10,000b. Rs. 5,000C. Nild. Rs. 6,000
Answer» ANSWER: d. Rs.6000 Explanation: A PRIVATE EMPLOYEE has ENTERTAINMENT allowance10000 but he SPEND rs.6000

936.

A private employee received a salary Rs. 120000and entertainment allowance Rs. 10000 duringthe previous year, he spends Rs. 6000 onentertainment. he is entitled to deduction undersection 16(ii).a. Rs. 10,000b. Rs. 5,000C. Nild. Rs. 6,000

Answer»

ANSWER:

d. Rs.6000

Explanation:

A PRIVATE EMPLOYEE has ENTERTAINMENT allowance10000 but he SPEND rs.6000

Discussion

937.	Show necessary entries to adjust the following on 31st December, 2017.(i) Outstanding salaries Rs 1,200 (ii) Prepaid insurance premium Rs 450(iii) Interest on investments accrued Rs400
Answer» ANSWER: YES you are right But YO are WRONG

937.

Show necessary entries to adjust the following on 31st December, 2017.(i) Outstanding salaries Rs 1,200 (ii) Prepaid insurance premium Rs 450(iii) Interest on investments accrued Rs400

Answer»

ANSWER:

YES you are right

But YO are WRONG

Discussion

938.	1,000 toys consigned by Roy & Co. of Calcutta to T.Nu of Rangoon at an invoice cost of Rs 150 each. Roy& Co. paid freight Rs 10,000 and insurance Rs 1,500During the voyage 100 toys were totally damagedby fire and had to be thrown overboard. T. Nu tookdelivery of the remaining toys and paid Rs 14,400 ascustoms duty
Answer» Answer: value of CONSIGNMENT : rs 150000 consignor EXPENSES : rs 11500 value of loss in transit: 16150 value of loss in transit and unsold STOCK : 145350

938.

1,000 toys consigned by Roy & Co. of Calcutta to T.Nu of Rangoon at an invoice cost of Rs 150 each. Roy& Co. paid freight Rs 10,000 and insurance Rs 1,500During the voyage 100 toys were totally damagedby fire and had to be thrown overboard. T. Nu tookdelivery of the remaining toys and paid Rs 14,400 ascustoms duty

Answer»

Answer:

value of CONSIGNMENT : rs 150000

consignor EXPENSES : rs 11500

value of loss in transit: 16150

value of loss in transit and unsold STOCK : 145350

Discussion

939.	T. Nu sent a bank draft to Roy & Co. for Rs 50,000 asadvance payment and later sent an account salesshowing that 800 toys had been sold at Rs 220each. Expenses incurred by T. Nu on godown rentand advertisement, etc., amounted to Rs 2,000 T. Nuwas entitled to commission of 5 per cent. One of thecredit customers could not pay for 5 toys. Prepare theConsignment Account, T. Nu's account and Profit andLoss Account in the books of Roy & Co., assumingthat nothing has been recovered from the insurersdue to a defect in the policy. T. Nu settled his accountimmediately
Answer» ANSWER: brjrrjvewevrkfmsvrhktsvehykngeg

939.

T. Nu sent a bank draft to Roy & Co. for Rs 50,000 asadvance payment and later sent an account salesshowing that 800 toys had been sold at Rs 220each. Expenses incurred by T. Nu on godown rentand advertisement, etc., amounted to Rs 2,000 T. Nuwas entitled to commission of 5 per cent. One of thecredit customers could not pay for 5 toys. Prepare theConsignment Account, T. Nu's account and Profit andLoss Account in the books of Roy & Co., assumingthat nothing has been recovered from the insurersdue to a defect in the policy. T. Nu settled his accountimmediately

Answer»

ANSWER:

brjrrjvewevrkfmsvrhktsvehykngeg

Discussion

940.	P.Q and R sharing profits and losses in the ratio of 3:2:1, decide to share profitsand losses equally with effect from 1st April, 2017. Following is an extract of theirBalance Sheet as at 31st March, 2017:LiabilitiesInvestment Fluctuation Reserve₹ 30,000AssetsInvestments (At Cost)₹ 5,00,000Show the accounting treatment under the following alternative cases :Case (1) If there is no other information.Case (ii) If the market value of Investments is 75,00,000.Case (iii) If the market value of Investments is 34,88,000.
Answer» ANSWER: answer of the QUESTION is 183628

940.

P.Q and R sharing profits and losses in the ratio of 3:2:1, decide to share profitsand losses equally with effect from 1st April, 2017. Following is an extract of theirBalance Sheet as at 31st March, 2017:LiabilitiesInvestment Fluctuation Reserve₹ 30,000AssetsInvestments (At Cost)₹ 5,00,000Show the accounting treatment under the following alternative cases :Case (1) If there is no other information.Case (ii) If the market value of Investments is 75,00,000.Case (iii) If the market value of Investments is 34,88,000.

Answer»

ANSWER:

answer of the QUESTION is 183628

Discussion

941.	TOODDe3000300037030On the above date partes de ce de the hom with following conditons.1 Viles to takere at the stock book in and autopay crediten.2 Daltons amtumir te 2000 nella for 180 mnd es vold to del collecting2. Being said lor 90000 odwable realized 4000Pregut alization A/C2) Parts Capal AJCWC
Answer» ANSWER: ihvdk sfjodevjofa jogdboo Explanation: gincsjobvswgjbb

941.

TOODDe3000300037030On the above date partes de ce de the hom with following conditons.1 Viles to takere at the stock book in and autopay crediten.2 Daltons amtumir te 2000 nella for 180 mnd es vold to del collecting2. Being said lor 90000 odwable realized 4000Pregut alization A/C2) Parts Capal AJCWC

Answer»

ANSWER:

ihvdk sfjodevjofa jogdboo

Explanation:

gincsjobvswgjbb

Discussion

942.	Q3 Enter the following hypothetical transaction in the appropriate type of the cashbooks and post the same to the relevant ledger account:2008July 1 Started business with an investment of Rs. 9,000July 2 Deposited in Bank of India, Rs. 7,000July 4 Acquired a building by issuing a cheque of Rs. 5,000July 10Jwy 15 Purcahscd Rs. 800 of merchandise by chcque.July 18 Withdrew Rs. 100 from the bankJuly 20Sold merchandise for RS. 1,200July 22 Deposited Rs. 2,000 into the bankJuly 25 Bought Rs. 1,000 merchandiseJuly 26 Sold Rs. 1,500 merchandise by crosscd chequeJuly 27 Paid Rs. 100 by chequc as the premium for insuring buildingagainst fireJuly 28 Paid freight Rs. 50Jwy 30 Withdraw from bank for persoria usc Rs. SOOJwy 31 Cleared electricity bill Rs. 90Jwy 31Paid to Mahesh Rs. 1,080 in full satisfaction by cheque. We owedto Mahesh Rs. 1,100 for goods purchased.July 31Received from Suresh a cheque for Rs. 1,480, in full satisfactin ofthe debt of Rs., 1,510.\|
Answer» 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.

942.

Q3 Enter the following hypothetical transaction in the appropriate type of the cashbooks and post the same to the relevant ledger account:2008July 1 Started business with an investment of Rs. 9,000July 2 Deposited in Bank of India, Rs. 7,000July 4 Acquired a building by issuing a cheque of Rs. 5,000July 10Jwy 15 Purcahscd Rs. 800 of merchandise by chcque.July 18 Withdrew Rs. 100 from the bankJuly 20Sold merchandise for RS. 1,200July 22 Deposited Rs. 2,000 into the bankJuly 25 Bought Rs. 1,000 merchandiseJuly 26 Sold Rs. 1,500 merchandise by crosscd chequeJuly 27 Paid Rs. 100 by chequc as the premium for insuring buildingagainst fireJuly 28 Paid freight Rs. 50Jwy 30 Withdraw from bank for persoria usc Rs. SOOJwy 31 Cleared electricity bill Rs. 90Jwy 31Paid to Mahesh Rs. 1,080 in full satisfaction by cheque. We owedto Mahesh Rs. 1,100 for goods purchased.July 31Received from Suresh a cheque for Rs. 1,480, in full satisfactin ofthe debt of Rs., 1,510.|

Answer»

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.

Discussion

943.	Enter the following transactions in a single column cash books of hts steel Co Ltd 2019 august 1 purchase goods From Ramaiya On credit Rs.8000August 5 credit purchase from Rohan traders Rs.5000 less 10% discountAugust 10 purchased From Srinivas Rs4000 on account August 13 bought furniture from oaks Furniture from Rs.8000August 20 Videsh supplied goods worth Rs.2500
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

943.

Enter the following transactions in a single column cash books of hts steel Co Ltd 2019 august 1 purchase goods From Ramaiya On credit Rs.8000August 5 credit purchase from Rohan traders Rs.5000 less 10% discountAugust 10 purchased From Srinivas Rs4000 on account August 13 bought furniture from oaks Furniture from Rs.8000August 20 Videsh supplied goods worth Rs.2500

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

Discussion

944.	2. Love Doddle is a gifting enterprise of Ms. Dorati. The enterprise generates inflows byarranging gift hampers for the customer's loved ones. The inflows arises from the sale ofgift hampers Rs 505000 and from bank interest, dividend receipt RS4200. Ms. Dorati isconfused on how to record these inflows. She would like to understand from you aboutthe concepts Revenue from operation and other income, so that she can record theinformation so as to prepare the profit and loss statement of the enterprise. Define, shareexamples, and elaborate on your understanding towards the terms Revenue fromOperation and Other Income(10 Marks)
Answer» ANSWER: Also you can add DIFFERENT examples of both the TERMS.

944.

2. Love Doddle is a gifting enterprise of Ms. Dorati. The enterprise generates inflows byarranging gift hampers for the customer's loved ones. The inflows arises from the sale ofgift hampers Rs 505000 and from bank interest, dividend receipt RS4200. Ms. Dorati isconfused on how to record these inflows. She would like to understand from you aboutthe concepts Revenue from operation and other income, so that she can record theinformation so as to prepare the profit and loss statement of the enterprise. Define, shareexamples, and elaborate on your understanding towards the terms Revenue fromOperation and Other Income(10 Marks)

Answer»

ANSWER:

Also you can add DIFFERENT examples of both the TERMS.

Discussion

945.	The auditor will examine bill of lading inorder to voucha. sales within the stateb. sales outside the statec. exportsd. sales on approval
Answer» ANSWER: export Explanation: please follow MI and mark as BRILLIANT

945.

The auditor will examine bill of lading inorder to voucha. sales within the stateb. sales outside the statec. exportsd. sales on approval

Answer»

ANSWER:

export

Explanation:

please follow MI and mark as BRILLIANT

Discussion

946.	2. Hindustan Unilever Ltd. is an Indian consumer goods company listed on the stockexchange in India. As part of the listing agreement the Management Discussion andAnalysis Report should form part of the Annual Report to the shareholders.MD&A should include discussion on certain crucial matters within the limits set by thecompany's competitive position. Discuss about MD&A, list down, and briefly definethose matters which MD&A should include.(10 Marks)
Answer» Answer: Hindustan Unilever Ltd. is an Indian CONSUMER GOODS company listed on the stock exchange in India. As part of the listing agreement the Management Discussion and ANALYSIS Report should form part of the Annual Report to the shareholders. MD&A should include discussion on CERTAIN crucial matters within the limits set by the company's competitive position. Discuss about MD&A, LIST down, and briefly define those matters which MD&A should include.

946.

2. Hindustan Unilever Ltd. is an Indian consumer goods company listed on the stockexchange in India. As part of the listing agreement the Management Discussion andAnalysis Report should form part of the Annual Report to the shareholders.MD&A should include discussion on certain crucial matters within the limits set by thecompany's competitive position. Discuss about MD&A, list down, and briefly definethose matters which MD&A should include.(10 Marks)

Answer»

Answer:

Hindustan Unilever Ltd. is an Indian CONSUMER GOODS company listed on the stock exchange in India. As part of the listing agreement the Management Discussion and ANALYSIS Report should form part of the Annual Report to the shareholders. MD&A should include discussion on CERTAIN crucial matters within the limits set by the company's competitive position. Discuss about MD&A, LIST down, and briefly define those matters which MD&A should include.

Discussion

947.	As on 31.3.2020(Rupees. In Lacs)1003. Following information is available in respect of A LtdParticularsAs on 31.3.2019(Rupees. In Lacs)Investment in FinancialAssetsEquity Share Capital150Long term Loans taken100Dividend paidDividend receivedInterest received160200261015a. Prepare the cash flow from financing activities from the above information and givereasons for each element whether these elements belongs to financing activities or not(5 Marks
Answer» SORRY BRO even I don't KNOW PLZ like

Discussion

948.	Enter the following transactions in a Purchase Book for the month of August 2019.August 1 Purchased goods from Ramya on credit Rs. 8,000.August 5 Credit purchases from Mohan Traders Rs. 5,000, less 10% discount.August 10 Purchased from Srinivas Rs. 4,000 on account.August 13 Bought furniture from Oaks Furniture for Rs. 8,000.August 20 Videsh supplied goods to us worth Rs. 2,500.
Answer» Answer: $\huge \bf \fbox \red{Ʀøꕶᥱ}$ The rose is a type of FLOWERING shrub. Its name comes from the Latin word ROSA. The flowers of the rose GROW in many different colors, from the well-known red rose or yellow roses and SOMETIMES white or purple roses. Roses BELONG to the family of plants called Rosaceae.. Hope it's helps... XD

948.

Enter the following transactions in a Purchase Book for the month of August 2019.August 1 Purchased goods from Ramya on credit Rs. 8,000.August 5 Credit purchases from Mohan Traders Rs. 5,000, less 10% discount.August 10 Purchased from Srinivas Rs. 4,000 on account.August 13 Bought furniture from Oaks Furniture for Rs. 8,000.August 20 Videsh supplied goods to us worth Rs. 2,500.

Answer»

Answer:

$\huge \bf \fbox \red{Ʀøꕶᥱ}$

The rose is a type of FLOWERING shrub. Its name comes from the Latin word ROSA. The flowers of the rose GROW in many different colors, from the well-known red rose or yellow roses and SOMETIMES white or purple roses. Roses BELONG to the family of plants called Rosaceae..

Hope it's helps... XD

Discussion

949.	Received an order the from browar to supelyfor Rs 40,ooo Rbcrived of Rs 12.000 asadvancerupesgoods
Answer» EXPLANATION: RECEIVED an ORDER the from browar to supely for Rs 40,ooo Rbcrived of Rs 12.000 as advance rupes goods

949.

Received an order the from browar to supelyfor Rs 40,ooo Rbcrived of Rs 12.000 asadvancerupesgoods

Answer»

EXPLANATION:

RECEIVED an ORDER the from browar to supely

for Rs 40,ooo Rbcrived of Rs 12.000 as

advance

rupes

goods

Discussion

950.	20. Machine account shows balance of Rs.60,000 in the books of XYZ Ltd on 01/04/17. This machine waspurchased five years back. Till today, total depreciation written off on this machine was Rs.20,000.On 01/04/19 second machine was purchased for Rs. 12,000.Second machine was not found suitable and was sold at 10% loss of book value on 31/12/19. Every yearcompany provides depreciation at 5% under S.L.M.Prepare machine a/c and depreciation a/c in the books of the company up to 31/03/20.
Answer» Answer: the intellectual and practical activity ENCOMPASSING the systematic STUDY of the structure and behaviour of the physical and NATURAL WORLD through observation and EXPERIMENT.

950.

20. Machine account shows balance of Rs.60,000 in the books of XYZ Ltd on 01/04/17. This machine waspurchased five years back. Till today, total depreciation written off on this machine was Rs.20,000.On 01/04/19 second machine was purchased for Rs. 12,000.Second machine was not found suitable and was sold at 10% loss of book value on 31/12/19. Every yearcompany provides depreciation at 5% under S.L.M.Prepare machine a/c and depreciation a/c in the books of the company up to 31/03/20.

Answer»

Answer:

the intellectual and practical activity ENCOMPASSING the systematic STUDY of the structure and behaviour of the physical and NATURAL WORLD through observation and EXPERIMENT.

Discussion

Explore topic-wise InterviewSolutions in .

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Discuss FIVE reasons why the balance shown at the bank column of the cash book doesnot agree with the balance shown on the bank statement

Inregistrati in contabilitate folosind etapele analizei contabile1 se cumpără materiale consumabile in valoare de 400 de lei de la furnizor2​

Please MARK me as BRAINLIST

Q.Capital expenditure is shown -a) By adding to capital account in Balance Sheet.b) By deducting from capital account in Balance Sheet.c) On Assets sided) Debit side of P&L Account.

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A private employee received a salary Rs. 120000and entertainment allowance Rs. 10000 duringthe previous year, he spends Rs. 6000 onentertainment. he is entitled to deduction undersection 16(ii).a. Rs. 10,000b. Rs. 5,000C. Nild. Rs. 6,000​

Show necessary entries to adjust the following on 31st December, 2017.(i) Outstanding salaries Rs 1,200 (ii) Prepaid insurance premium Rs 450(iii) Interest on investments accrued Rs400​

d) Same accounting methods are used year after year.

The auditor will examine bill of lading inorder to voucha. sales within the stateb. sales outside the statec. exportsd. sales on approval

Received an order the from browar to supelyfor Rs 40,ooo Rbcrived of Rs 12.000 asadvancerupesgoods​

the intellectual and practical activity ENCOMPASSING the systematic STUDY of the structure and behaviour of the physical and NATURAL WORLD through observation and EXPERIMENT.

Illustration 9Deepak lent out a certain sum to Amit and Rama. The sum of Amit is morethan Rama by Rs. 800. Amit agrees to pay 6% interest and Rama 5%. Bothrepay

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The maturity of the bill of exchange is taken one day before when the due date falls on:A) Working dayB)Emergency holidayC) Public holidayD) There is no such rule

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Discuss the procedure to calculate the Machine hour rate ? ( cost accounting )

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Calulate the GDP Deflator from the followingGDP - 3,20,000GDP on Constant prices - 2,80,000Nominal GDP 320,000NDP - 2,30,000

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Bought goods from Manohar Traders for Rs.140,000on 5 % Trade Discount and paid Rs. 13,000 in cash:

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DatePage$100.000 equity shoes of F 10 cach issued and fullysubs.coibed and called-ulp at 20% premium calculateamount of equity share capita

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A private employee received a salary Rs. 120000and entertainment allowance Rs. 10000 duringthe previous year, he spends Rs. 6000 onentertainment. he is entitled to deduction undersection 16(ii).a. Rs. 10,000b. Rs. 5,000C. Nild. Rs. 6,000

Show necessary entries to adjust the following on 31st December, 2017.(i) Outstanding salaries Rs 1,200 (ii) Prepaid insurance premium Rs 450(iii) Interest on investments accrued Rs400

Received an order the from browar to supelyfor Rs 40,ooo Rbcrived of Rs 12.000 asadvancerupesgoods