This section includes InterviewSolutions, each offering curated multiple-choice questions to sharpen your knowledge and support exam preparation. Choose a topic below to get started.
| 1001. |
1 point Q.12 - The average net profitof a firm is Rs.8000 perannum. The capital invested.is Rs.50,000. The rate ofreturn on capital invested insimilar business is 10% perannum. The super profit willbe-O (a) 8000O (b) 3000O (c) 5000O (d) 13,000 |
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Answer» ong>Answer: MARK ME AS BRAINLEST ANSWER PLEASE......... Explanation: I think the answer is 13000 |
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| 1002. |
Bought goods from ram and paid by cheque 8,000 rupees |
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Answer» ong>Answer: To RAM A/C 8000 (being goods PURCHASED ) |
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| 1003. |
In NPO, (receipts and payments a/c)what to do whenSale of Old Furniture (costs 6000) 4000please help fast |
Answer» ONG>ANSWER:13,40,00 she is a REALLY GOOD answer..... |
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| 1004. |
Cash paid to ravi Kumar for clearance journal entry solution pls |
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Answer» ONG>ANSWER: hhgswueushaghsjdjdhdhsuksjagsisjsgsghsksksgtsuwksgshhddhd Explanation: hshdbdhejifflrbsghhgswueushaghsjdjdhdhsuksjagsisjsgsghsksksgtsuwksgshhddhd |
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| 1005. |
The gunantedof 이lessA. B and C entered into partnership1st April 2012 to share profitlacresratio of 4:33however,personallythat C's shareprofit afterchanginginterellaon capital @ 5%would not bethan& ue,ooo in.contibutedwere A-3,00.000- 200,000 C-E1,50.000c-Thetheended 31st2013Jeanamountedto &Appropriatethe Profit & LossaccountB-profit forMarch2.60.000show |
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Answer» ONG>Answer: 20444-478-3883+38838383+388494 profile 64+3(388383)7373+8484 |
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| 1006. |
Ajay and Vijay are partners sharing profits and losses equally . Their drawings during the year ended 31st Mar, 2020 are as follows:Ajay drew Rs. 12,000 at the end of each month.Vijay's drawings were : 30.06.19 : Rs.40,000 ; 31.07.2019 : Rs.20,000 ; 01.10.19 : Rs.20,000 ;01.03.2020 : Rs.32,000. The deed provides Interest on Drawings @ 10% p.a.Calculate Interest on Drawings for Ajay and Vijay.and locor in the ratio of 2.2.1 Vishal retires |
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Answer» ONG>EXPLANATION: jsjjdjjdhdjdjdjdjfjjfjfjidiiiisid |
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| 1007. |
B Ltd. issued shares of Rs.10 each at par. Mr. C purchased 30shares and paid Rs.2 onapplication but did not pay theallotment money of Rs.3. If thecompany forfeits his entireshares, the forfeiture accountwill be credited by |
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Answer» ong>Answer: mark me as BRAINLEST answer plz... Explanation: 21 ruppes |
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| 1008. |
Commission received 500 journal entry solu. |
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Answer» ong>Answer: here's UR answer mate ❤️the above JOURNAL entry according to accounting principle of debit what comes in cash or BANK account is debited as cash has come into the business and commission received account is credited as it an income for the company and hence credit all income and GAINS principle of accounting is followed....Mark me as brainliest and FOLLOW me ✌️ TAMANNA 073❤️ |
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| 1009. |
Give an example of force which is always attractive in nature |
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Answer» ong>ANSWER: Gravitational Force. Example : A BALL placed on a table starts rolling down when the table is tilted. ______________________________________________________ HAVE A NICE DAY MATE!☆꧁✬◦°˚°◦. ʍǟʀӄ ʍɛ ǟֆ ɮʀǟɨռʟɨɛֆȶ ʍǟȶɛ ǟռɖ ɖօ ȶɦռӼ ʍʏ ǟռֆաɛʀ .◦°˚°◦✬꧂☆ ☆꧁✬◦°˚°◦. ֆɛʟʄʟօʋɛ .◦°˚°◦✬꧂☆ |
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| 1010. |
Q3 which account should be credited for free samples distributed aa) Goods distributed for free sample.by Purcheseez ) Aduertisementd> None |
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Answer» ONG>Answer: good QUESTION nice question keep it up |
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| 1011. |
Which of the following user useaccounting information toassess whether or not toinvest their money in thecompany/organization? O OwnerO ManagementO LendersO Prospective Investors |
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Answer» ong>Explanation: The following list identifies the more common users and the reasons why they need this INFORMATION: COMPANY management. ... COMPETITORS. ... Customers. ... Employees. ... Governments. ... Investment analysts. ... Investors. ... Lenders. |
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| 1012. |
Prepare Revaluation account and Partner's capital account. 0.7 Geeta and Meeta are partners in a firm sharing profits in the ratio of 3:2. Their Balance sheet on 31st March, 2020 was as under:24,000LiabilitiesCreditorsBills PayableGeneral ReserveCapitals:GeetaMeeta₹Assets27,000 Cash5,000 Debtors18,000 Less: prov. for bad debtsStockPatent75,000 Building48,0004,80043,20030,0007,40020,40040,00035,0001,25,0001,25,000Reeta is admitted into the partnership giving her 1/5th share in the profits.Reeta is to bring in * 30,000 as her Capital and her share of goodwill in cash, subject to the following terms:(a) Goodwill of the firm to be valued at * 50,000.(b) Stock to be reduced by 10% and provision for Bad Debts to be reduced by * 2,400.(c) Patents are valueless.(d) There was a claim against the firm for damages amounting to * 2,500. The claim has now been accepted.(e) A debtor, Ram whose dues $2,000 were written off as Bad Debts last year paid 1,500 in full settlement of accounts.(1) Expenses on revaluation of assets and reassessment of liabilities amounting to 1,000 were paid by the firm.Prepare Revaluation Account and Partners Capital Accounts.***** |
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Answer» ong>Answer: Revaluation ACCOUNT is a nominalaccount prepared for the purpose of distributing and TRANSFERRING the profit or loss arising out of increase or decrease in the book VALUE of assets and/ or liabilities of the partnership firm at the time of Change in profit sharing ratio,admission of a partner, retirement of APARTNER .. |
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| 1013. |
(a) historical cost. (e) both historical cost and fair value.(b) fair value(d) None of these |
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Answer» ONG>ANSWER: YES ettgetuttndnjnebt trbbeb2brbtbtbdbehftbbtehh3jrjtbybt |
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| 1015. |
1 (a) M/s. Vanish Traders, Delhi purchased 500 Parker Pens @ 200 each less Trade Discount @ 15% from Luxor Pens Ltd., Delhi. CGST and SGST was levied @ 6% each. Further, CashDiscount was allowed @ 5% as the payment was made within specified time. What will bethe amount of trade discount and cash discount? Pass Journal Entry also. |
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Answer» ong>Answer: M/s. Vaish TRADERS, Delhi purchased 500 Parker Pens @ Rs 200 each less Trade DISCOUNT @ 15% from Luxor Pens Ltd., Delhi. CGST and SGST was levied @ 6% each. Further, Cash Discount was ALLOWED @ 5% as the payment was made within SPECIFIED time. |
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| 1016. |
Write the name of national tree???????????? |
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Answer» ong>Answer: |
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| 1017. |
3. Interest on bonds accrues (a) on the last day of the financial year(b) on due dates fixed in advance(c) on the date fixed by board resolution(d) as declared by the company in the beginning of every financial yearper his actual periodo |
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Answer» ong>Answer: ACCRUED interest is calculated from the previous coupon DATE up to, but not INCLUDING, the settlement date. |
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| 1018. |
12. Match with the suitable option: List |1. Sold to M/S A 30 [email protected] each40 trousers @300 eachLess:TD @ 10%2. Return 60 pen drive to M/S X purchased@ 100 each , IGST @ 12% *@ L(1 Point |
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Answer» ONG>ANSWER: don't KNOW about these answer |
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| 1019. |
Numerical Questions Simple Cash Book1. Enter the following transactions in a simple cash book for December 2016:01 Cash in hand05 Cash received from Bhanu07 Rent Paid10 Purchased goods Murari for cash15 Sold goods for cash18 Purchase stationery22 Cash paid to Rahul on account28 Paid salary30 Paid rent(Ans. Cash in hand 13,200)12,0004,0002.0006,0009,0003002.0001.000500 |
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Answer» ONG>ANSWER: I don't know but thanks for the free points mark me as BRAINLEST answer |
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| 1021. |
Following is not a Fixed Income Bearing Security (a) Debentures(c) Preference SharesInterest is always calculated on theb) Equity Shares(d) Government security |
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Answer» entures is not a Fixed Income Bearing Security Explanation: Debenture is a medium- to long-term debt instrument USED by large companies to borrow money, at a fixed rate of INTEREST. Debentures are ALSO known as a bond which serves as an IOU between issuers and purchaser. It is not secured by COLLATERAL. Since debentures have no collateral backing, debentures must rely on the CREDITWORTHINESS and reputation of the issuer for support. Both corporations and governments frequently issue debentures to raise capital or funds. Option A is the answer. |
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| 1022. |
मिस्टर राहुल एक लिमिटेड कंपनी में 24 जून 2018 को नौकरी प्राप्त करते हैं इससे पूर्व हुआ किसी भी अन्य सेवा में नहीं है उनकी आय का कोई अन्य स्रोत भी नहीं है निम्नलिखित कर निर्धारण वर्ष के लिए उनका गत वर्ष क्या होगा का निर्धारण वर्ष 2019 20 कर निर्धारण वर्ष 2020 21 |
| Answer» ONG>ANSWER: | |
| 1023. |
Quality of manpower is not recorded under *1 point |
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Answer» ong>Answer: The accounting principle where the quality of MANPOWER is not recorded in the accounts BOOK is Money Measurement Principle. This concept UNDERLINES the fact that in economics and accounting GENERALLY, every recorded transaction or event is measured with regards to money. |
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| 1024. |
En 24 neverbeenmoother.Mir Rahul gains a limited companyJunebefore this hee heyinother employmentanyhe hasof incomewhat will be the previous year forcusessment.years9Assesment year 20.19-20Assesment yearfollowing2420-21 |
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Answer» ONG>Answer: 12345678901234567890 |
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| 1025. |
2. There are two partners in a firm P and Q. R is admitted into the firm for1/3 rd share of profit with theguaranteed profit of Rs 18,000 p.a.The firm's total profit is Rs 42,000. IfP stood as guarantor of guaranteedprofit to R, how much profit would begiven to P? |
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Answer» ONG>Answer:P> share of R in profit = 42,000×1/3 = 14,000 share of P = 42,000-14,000×1/2 = 14,000 share of Q = 42,000-14,000×1/2 = 14,000 guaranteed to R = 18,000 actual share received = (14,000) deficeincy = 18,000-14,000 = 4000 share of P = 14,000-4000 = 10,000 share of Q = 14,000 share of R = 18,000 |
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| 1026. |
How to calculate gaining ratio |
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Answer» ONG>Answer: Gaining Ratio = NEW Ratio – Old Ratio. New Ratio = Old Ratio + Gain. Gaining Ratio = Retiring PARTNER's share X Acquisition Ratio. New Ratio = Old Ratio + Gaining Ratio. Hope this helps you |
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| 1027. |
Goods costing 10000rs were returned to ram bros, as the goods were hazardous for the health of consumers find its journal entry |
| Answer» ONG>Explanation: | |
| 1028. |
Goods costing 10000rs were returned to ram bros, as the goods were hazardous for the health of consumers |
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Answer» bros alc DR 10000 To purchase returns alc 10000(Being purchases returned on account of HAZARDOUS nature)Hope this ANSWER is helpful to you MARK my answer as brainlist if you are satisfiedThank you |
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| 1029. |
paid varma on full settlement of hi account Rs 11500 journal entriesfeed Verma on full settlement of his account rupees 11,500 I want the journal entry of this |
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Answer» ong>Answer: I didn't UNDERSTOOD SORRY sorry |
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| 1030. |
Q.40. X, Y and Z were partners sharing profits and losses as to X one-half; Y one-third; ad Z one-sixth. As from 1st April, 2015, they agreed to admit A into partnership for ane-sixth share in profits and losses, which he acquires equally from X and Y, and is toHing in 50,000 for his capital and 320,000 as premium for goodwill. A paid in his capitalnoney but in respect of premium for goodwill, he could bring in only 315,000.You are required to :(i) give the journal entries to carry out the above arrangements and(ii) work out the new profit-sharing ratio of the partners. |
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Answer» ONG>ANSWER: i dont understand your QUES........ i dont understand your ques........ |
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| 1032. |
Goods worth 50000rs and cash 20000rs were stolen by an employee.find its journal entry |
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Answer» ong>Answer: Hii mate itz your answer oss by theft a/c. dr 35000 to CASH a/c 20000 to purchase a/c. 15000 mark me as BRAINLIST answer |
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| 1033. |
A businessman wants to sell a piece of land which was being used as his godown but he is not able to know the market value of land from his financial statement. Which limitation of accounting is laid down in this statement? Explain |
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Answer» ONG>Answer: dilipsingh the UK and Ireland and the place to find out what the FUTURE. 23RD |
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| 1034. |
-(1) Received from a debtor of 500 @ 75 paise per rupee |
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Answer» ONG>Answer: To debtors name 375 |
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| 1035. |
What is the main difference between the gain and profit. |
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Answer» ong>The KEY DIFFERENCE between profit and gain is that profit is the total earnings for a PERIOD whereas gain is an ECONOMIC benefit DERIVED by disposing an asset above its net book value or market value |
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| 1036. |
కాకి, తాబేలు, ఎలుకల సఖ్యం గొప్పది. ఇప్పుడు వాటికి జింకతో నెయ్యం కుదిరింది. Aకింది పదాలు చదువండి. వీటిని ఉపయోగించి సొంతవాక్యాలు రాయండి.గబుక్కునతళుక్కునమనంఇ.చటుక్కునఈమిరుమిట్లు గొలిపే :....మురిసిపోవడంఊ.వడివడిగాఋ. నివ్వెరపోయి |
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Answer» ONG>ANSWER: తాబేలు, ఎలుకల సఖ్యం గొప్పది.ఇప్పుడు వాటికి జింకతో నెయ్యం కుదిరింది.A కింది పదాలు చదువండి.వీటిని ఉపయోగించి సొంతవాక్యాలు రాయండి.గబుక్కున తళుక్కున మనం ఇ.చటుక్కున ఈ మిరుమిట్లు గొలిపే :.... మురిసిపోవడం ఊ |
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| 1037. |
Started bussines with cash at bank 20000 due from virali 10000 make journal entry |
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Answer» ONG>Answer: 10000................ |
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| 1038. |
Kamalakar @ 1oy pa fil the yearu endung31-3-2018 Sholtcut metodper monthf he withduw esi) at In thein In thebeginning ofEach monthmidolle이Each monththeend ofEachmonthcalculate interest |
| Answer» ONG>ANSWER: | |
| 1039. |
Who are the users of accounting information |
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Answer» ong>Answer: hope it helps u...... |
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| 1040. |
Sold goods for rupees 17000 after trade discount of 3000 rupees |
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Answer» ONG>Answer: to sales a/c. 14,000 |
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| 1041. |
Mal ke bad ko AVN vikreta dwara Rakhe jaane wale vibhinn Prakar ke likho ka vivaran dijiye please |
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Answer» ong>ANSWER: kya BOLE English me please can't UNDERSTAND |
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| 1042. |
1. Profit-Organisations, Partnership Firmsand Companies)Disha and Abha were partners in a firm. Farad was admitted as a newpartner for 1/5th share in the profits of the firm. Farad broughtproportionate capital. Capitals of Disha and Abha after all adjustmentswere * 64,000 and * 46,000 respectively. Capital brought by Farad was:(a) * 22,000 (b) * 27,500 (c) 55,000 (d) * 28,000 |
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Answer» ong>ANSWER: total CAPITAL of NEW firm = total adjusted capital of old PARTNERS / combined share of old partners = (64,000 + 46,000)×5/4 = 1,10,000×5/4 = 1,37,500 amount of Farad in total capital = capital of new firm - capital of old partners = 1,37,500-1,10,000 = 27,500 capital of farad = 27,500 (B) |
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| 1043. |
1. 'ਸਾਰਾਗੜ੍ਹੀ' ਇਤਿਹਾਸ ਦੇ ਪੰਨਿਆਂ ਵਿੱਚ ਬੜੀ ਵੱਡੀ ਥਾਂ ਕਿਉਂ ਮੱਲੀ ਬੈਠਾ ਹੈ? |
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Answer» ONG>Answer: can you please translate to ENGLISH |
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| 1044. |
What are the 5 differences between government accounting and private accounting |
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Answer» lic vs. Private Accounting The Distinction Between Public Accounting and Private AccountingThe best way to UNDERSTAND the distinction between public accounting and private accounting is to think of public accountants as “external” accountants and private accountants as “INTERNAL” accountants. The most substantive criteria in determining public vs. private accounting has to do with who is ultimately served by the work being performed by the accountant. If the work is being performed strictly for the benefit of a specific company, it is safe to conclude that this is a function of private accounting. If the work being performed is done to satisfy regulatory requirements for transparency, then this can be said to be public accounting. A Distinction Made Based on EmployerPublic accountants and public accounting firms are not employed solely by any one client, and as such they are not part of the client’s business or corporate structure. Private accountants, on the other hand, work for the specific company or business entity for which they OFFER accounting services. Private accountants may be employed as controllers or in-house accountants and provide services only to their employer. Public accountants, on the other hand, have a range of clients and are either self-employed or members or employees of public accounting firms. Use of the Term “Public” in Public AccountingThe use of the terms “public” and “private” in this context can be confusing. Attorneys and law firms that provide services to a wide range of external clients are generally referred to as being in “private” practice. However, accountants and accounting firms that operate based on a similar business model are referred to as engaging in “public” accounting. The use of the terms “public” and “private” may have SOMETHING to do with the perceived allegiance of the accountant in each case. The “private” accountant who works as an employee or officer of a single business entity owes his or her allegiance to that entity. Thus, he or she serves the “private” interests of that business entity. A public accountant or accounting firm, on the other hand, provides services to a wide range of private clients and, in some cases, public or governmental AGENCIES. However, because the public accountant is an “external” accountant, he or she is not susceptible to pressure to enhance the reputation of the client the way an employee would be. The welfare of the public accountant or accounting firm does not depend primarily on the welfare of the client. Because the public accountant and the client do not have identical interests, the public accountant can be more objective and unbiased in interpreting and presenting accounting data. Thus, the allegiance of the public accountant actually belongs to the public and to the general ethical and professional standards promulgated by the accounting profession. The term “public” means that the public at large can and should be able to place its faith in the representations of public accountants and public accounting firms. |
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| 1046. |
Q1. From the following transactions, prepare an accounting equation:i.ii.iii.iv.Mr. Ram started business with cash 20,000.He took a loan 1,00,000.He purchased goods for 15,000.He sold 50% of goods at a profit of 20%.He sold 10% of the remaining goods at a profit of 10%. |
| Answer» ONG>ANSWER: | |
| 1047. |
What is the rectification entry of this? Received cash from ram was posted on credit side of cashbook rs.500 |
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Answer» ong>Answer: TWO Sided Errors Journal Date Particulars L.F. Debit Amount (RS) Credit Amount (Rs) i) MRIDULA’s A/c Dr. 4,500
To Sales A/c 4,500 (Credit sales to Mridula were recorded as Rs 500 instead of Rs 5,000)
ii) PURCHASES A/c Dr. 7,200
To Nayna’s A/c 7,200 (Credit purchases from Nayna were recorded as Rs 800 instead of Rs 8,000)
iii) Priya’s A/c Dr. 10,800
To Purchases Return A/c 10,800 (Goods returned to Priya were recorded as Rs 1,200 instead of Rs 12,000)
iv) Sales Return A/c Dr. 9,000
To Rashi’s A/c 9,000 (Goods returned from Rashi were recorded as Rs 1,000 instead of Rs 10,000) Explanation: hope you got it. please follow meee. |
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| 1048. |
Upsana whose accounts of rs 40000 was written off as bad last year ,paid us rs 25000 |
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Answer» ong>Answer: |
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| 1049. |
38. On 1st January, 2015, a company purchased a machine for 36,000 and paid * 4,320 for IGST and 74,000 for its installation. The company charges depreciation on this machine @ 10% pa. underReducing balance method.Show Machinery Account for the 1st 3 years assuming the company closes its books of accountson 31st December each year.Bo Bros charges denreciation 1030dar din* |
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Answer» ONG>ANSWER: please don't TYPE or write like that Explanation: because question number is ALSO written their so don't write question number |
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| 1050. |
Anyone help me to solve depreciations sum. |
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Answer» ong>Answer: PLS mention the class and the question mark as BRAINLIEST and FOLLOW me on brainly |
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