Saved Bookmarks
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.
| 1951. |
Q4. Mr. Waseem keeps his books under single entry system. He gives you the followinginformation which you are required to ascertain his profit or loss during 2018(10)1st January 201831st December 2018Bank balance740 (Cr.)400 (Dr.)Cash In handTOSundry Debtors53008800Sundry Creditors15001950Stock17001900Plant20002000Furniture140140Adjustments:Mr. Wascem withdrawn Rs. 3000 during the year but had introduced fresh capital of Rs. 600on 1st July 2018. A provision of Rs. 5 Percent on Sundry Debtors is necessary. Write ofdepreciation on plant at 5 per cent. Interest on capital is to be allowed at 5 per cent P.a. |
|
Answer» FOLLOW me I will DEFINITELY GIVE you follow BACK |
|
| 1952. |
Purchased furniture ₹25000 and fixtures for cheque ₹38000.(accounting equation) |
|
Answer» Answer: ACCOUNTING EQUATION S. No. Transaction Assets = Liabilities + Capital CASH + Furniture + Stock = Creditors (i) Sandeep STARTED business with cash 1,00,000 + 1,00,000 1,00,000 = + 1,00,000 (II) Purchased furniture for cash –5,000 +5,000 95,000 + 5,000 = + 1,00,000 (iii) Purchased goods for cash –20,000 +20,000 75,000 + 5,000 + 20,000 = + 1,00,000 (iv) Purchased goods on credit +36,000 +36,000 75,000 + 5,000 + 56,000 = 36,000 + 1,00,000 (v) Rent paid -700 –700 74,300 + 5,000 + 56,000 = 36,000 + 99,300 (vi) Goods costing Rs 40,000 sold at a profit of 20% for cash +48,000 -40,000 +8,000 1,22,300 + 5,000 + 16,000 = 36,000 + 1,07,300
Explanation: please follow me please |
|
| 1953. |
Explain accounting concept implications |
|
Answer» Answer: It means, both the aspects of the TRANSACTION must be recorded in the books of accounts. The implication of dual aspect CONCEPT is that EVERY transaction has an equal impact on ASSETS and liabilities in such a way that TOTAL assets are always equal to total liabilities. |
|
| 1954. |
Discuss in detail accounting concepts and conventions |
|
Answer» Explanation: Accounting concepts are the basic ASSUMPTIONS or FUNDAMENTAL propositions within which accounting operates. ... Accounting conventions are the OUTCOME of accounting practices or principles being followed by the enterprises over a period of TIME . HOPE it is helpful |
|
| 1955. |
As per reconstruction scheme the company issued 10000 equity shares of Rs.10 each @ Rs. 20 per share and paid creditors 80 paise in a rupee in full satisafcation of their claim. What is the amount of creditors outstanding as on the date of reconstruction? |
|
Answer» answer is in the PICS MARK me as BRAINLIEST |
|
| 1956. |
Bought land for 50000 |
|
Answer» ooooooooooooooooooo |
|
| 1957. |
Question 16is not factor that affect thecomposition of the working capitalNature of the businessNature of raw material usedProcess technology usedTax structure of the company |
|
Answer» It should be PROCESS TECHNOLOGY used. keep LEARNING... |
|
| 1958. |
Question 12Net profit ratio indicateStatus of assets and liabilitiesProfitabilityTrading efficiencyLiquidity |
|
Answer» and then we have been TRYING, but |
|
| 1959. |
AfterinterestisusedforNet Profitcomputing_ |
|
Answer» xtdoutgxylldnclgcdtootdfkgdgkxotskgzm |
|
| 1960. |
2 Ram and co. boughtbought aplen for z 6,00,000 on1 July 2014 It decidedto charge deprication@107diminishing balance method, on .1st Jan, 2017 company sold one fouthplant for a 80,000another .plant ondeteZ 2,00,000Booksclosed on 31 Marh Cachyear.It boughtthesameare |
|
Answer» 880000 Explanation: 600000+80000+200000=880000 |
|
| 1961. |
40000 equity shares of Rs. 10 each are outstanding and the company has free reserves of Rs. 20 lakhs. Long Term debts - NIL. Shares bought @ Rs. 60 per share. What amount of Capital Redemption Reserve required to be created? |
|
Answer» PLEASE FOLLOW me please follow me My FOLLOWER are very LOW please please please please please please |
|
| 1962. |
Prepare Bank Reconciliation Statement of Mr. Balkrishna as on 31st March, 2017 from theparticular given below : - (i) Balance as per Pass Book ` 20,000 . (ii) Bank collected a cheque of ` 1,000 on behalf of Mr. Balkrishna but wrongly credited to Shri Lalkrishna’s Account being another customer of the bank. (iii) Bank recorded a cash deposit of ` 3,859 as ` 3,598, (iv) Withdrawal column of the Pass Book under cast by ` 200. (v) The Credit Balance of ` 3,000 on page 15 of Pass Book was recorded on page 16 as a debit balance. (vi) The payment of a cheque of ` 700 was recorded twice in the Pass Book. (vii) The pass book showed a credit for a cheque of ` 2,000 deposited by Mr. Lalkrishna (another customer of the bank), (viii) Divided directly collected by bank ` 250. |
|
Answer» bnjjjjjjjiiqwwqpqpq |
|
| 1963. |
Enter the following transactions in the journal of M/s. Rakesh Brothers : -` January 1 Commenced business with cash 50,000 January 2 Deposited cash into Bank 40,000 January 4 Goods bought from Rangnath and paid him by cheque 20,000 January 5 Sold goods to Bachhulal on credit 15,000 January 10 Received cheque from Bachhulal and sent to Bank 15,000 January 12 Sold goods to Vinay Brothers 10,000 January 18 Received cheque from Vinay Brothers 10,000 January 20 Vinay Brother’s cheque deposited into Bank 10,000 January 22 Withdrew cash for office from Bank 5,000 January 25 Withdrew cash for private use from Bank 2,000 January 26 Vinay Brother’s cheque was dishonoured 10,000 January 28 Bank charges debited by Bank 200 January 29 Interest credited by Bank on deposits 300 |
|
Answer» ANSWER is in the pic mark me as BRAINLIEST |
|
| 1964. |
Nagendra Traders has omitted to open a Capital Account but he has prepared all theother accounts having the following balances, Prepare his Trial Balance : - (i) Bank overdraft ` 8,500, (ii) Sales ` 81,000, (iii) Purchases ` 44,500, (iv) Purchases Return ` 2,250, (v) Debtors ` 40,050, (vi) Wages ` 9,600,(vii) Capital ? (viii) Cash in hand ` 850, (ix) Creditors ` 21,500, (x) Sales Return 1,575, (xi) Furniture ` 2,500, (xii) Opening Stock ` 30,050 |
|
Answer» A RAINBOW is a meteorological PHENOMENON that is caused by reflection, REFRACTION and dispersion of light in water droplets resulting in a spectrum of light appearing in the sky. It takes the form of a multicoloured CIRCULAR arc. Rainbows caused by sunlight always APPEAR in the section of sky directly opposite the sun. |
|
| 1965. |
The cash Book of Mr. Shyamswaroop on 31st July, 2016, showed a debit balance of `15,000. On reconciling with the Pass Book, it was revealed that the cheques of ` 1,000 and ` 1,400 deposited with the Bank of 30th July were not yet collected. Cheques worth ` 1,200, ` 1,600 and ` 2,400 were issued on 28th July, were not presented for payment as yet. Interest of ` 250 was credited in the Cash Book. The Bank debited ` 30 as bank charges which was not entered in Cash Book. Prepare Bank Reconciliation Statement on 31st July, 2016. |
|
Answer» Answer: (+) (-)
BALANCE as PER cash BOOK. 15000 cheque deposit but not collect. 2400 cheque issued but not clear. 5200 bank charges 30 interest credited by bank. 250 balance as per pass book 17520 |
|
| 1966. |
What is the journal entry of "withdrawn rs 5000 for personal use" |
|
Answer» Answer: the JOURNAL entry is 5000 only BEACAUSE withwardal amount willl be credited... |
|
| 1967. |
Mble: The amount of old provision is more than the total of Bad Debts and new provision. HenceVII. Incorporating Adjustments from Serial No. 8 to 11.I from the following balances prepare Trial Balance, Trading A/c, P&L A/c and BalancesIdingsthe Balance Sheet 10,980]9367the credit of P&L A/C.stednoumAccount TitleAmountAccount TitleAmountenditorsSwable2.00rchargesmal Expensesat Rankdal Aaountmakes (Building)bran Bankaru Outwards35,780 Wages (Manufacturing)18,700Discount Received420 Bills Receivable7,580 Purchases18,980Stock (Opening)1,69,200 Trade Debtors40,000 Return Inwards40,000 Advertisement16,200 Sales6,200 Bad Debts400 Rent, Rates and Taxes8,600 Plant and Machinery3,58039,9401,8005,3601,17,20063,90063,22028,60015,7001,98,4002,60011,20059,000Pris Provisionbin handspunt AllowedThe Inwards |
| Answer» | |
| 1968. |
System is not a complete system of maintaining records of financialtransactions.Business oreanisations does not involve in economic events (True False) |
Answer» ❥❥❥Answer
❥❥❥Hope it helps❥❥❥Plss MARK as BRAINLIEST |
|
| 1969. |
Bo tow willyoupaid to (vcetina4 acalculate the amountDesctnes) elegal naposentative on the deathportranoup to the |
| Answer» | |
| 1970. |
22. Journalise the following transactions in the books of Salem brothers.2018March 1 Started business with cash R1,00,000March 2 Bought goods from kamal 20,000March 5 Cash paid to Kamal R20,000March 8 Sold goods to Kumar 15,000March 10 Commission received 1,500March 11 Salary paid R4,000March 15 Goods issued for personal use *4,500March 18 Cash received from Kumar14,400 and discount allowed 600March 20 Furniture purchased for cash 5,000March 25 Goods destroyed by fire 22000 |
|
Answer» ANSER is in the PIC MARK me as BRAINLIEST |
|
| 1971. |
21. Prepare the accounting equation for the following transactionsTarun started business with cash 1,50,000Purchased goods from Arun traders for cash 50,000Commission paid 2000(iv) Sold goods to Anand 30,000 (costing 25,000)(v) Cash deposited to bank 45,000 |
| Answer» | |
| 1972. |
What will the journal entry for :- the liability for workmen compensation fund was determined to be rs. 12000? plz tell journal entry with amount and also it's amount to be transferred in revaluation A/C and B/S |
|
Answer» MARK me as BRAINLIEST |
|
| 1973. |
20. Write the Accountingequation and find out the missing figure:Sl.no. Assets Capital Liabilities2,00,0001,10,0002. 1,75,000 80,000?321,25,000 33,500 |
| Answer» | |
| 1974. |
Paid office expenses |
|
Answer» Answer: Cash A/c. DR. ( AMOUNT) To Capital A/c. PURCHASES A/c. Dr. ( Amount) ... Cash A/c. Dr. ( Amount) ... Purchases A/c. Dr. ( Amount) ... Guddu A/c. Dr. ( Amount) hope this helps you out DEAR |
|
| 1975. |
Mention any 4 users of accounting information |
|
Answer» follow me Explanation: Examples of internal users are owners, MANAGERS, and employees. External users are PEOPLE outside the business entity (organization) who USE accounting information. Examples of external users are suppliers, banks, customers, investors, potential investors, and tax AUTHORITIES. |
|
| 1976. |
What is Voucher. ??? |
|
Answer» voucher is a document used by a company's accounts payable department CONTAINING the supporting documents for an invoice. A voucher is essentially the backup documents for accounts payable, which are bills owed by COMPANIES to VENDORS and suppliers. |
|
| 1977. |
Deduction u/s 37 (1) shall be allowed for those expenditure which are of nature :a. revenueb. capital c. both revenue and capitald. none of these |
|
Answer» b Explanation: bbbbbbbbbbbbbbbbbbbbbbb |
|
| 1978. |
State any 4 concepts of accounting |
|
Answer»
|
|
| 1979. |
Compute Business Income of shri P.S. Rathore for The Year Ended 31.03.2020Net profit as per profit and loss A/c (Before charging the following 575000 Rs.1. Expenditure on Family planning 45000 Rs2. Lump-sum Payment made for Technical know-how 90000 Rs3. Entertainment Expenditure 30000 Rs.4. Expenditure on acquiring Patent Right 84000 Rs.5. Expenditure on Advertisement- paid in cash 18000 Rs.6. Amount paid to Rajasthan University for an approved Research programme in Social Science Not connected with his business 20000 Rs.7. Provision for Excise duty 45000 Rs.(He paid only Rs. 20000 before the due date of filling I.T. return) |
|
Answer» Answer: Compute Business Income of shri P.S. RATHORE for The Year Ended 31.03.2020 Net profit as per profit and LOSS A/c (Before charging the following 575000 Rs. 1. EXPENDITURE on Family planning 45000 Rs 2. Lump-sum Payment made for Technical know-how 90000 Rs 3. Entertainment Expenditure 30000 Rs. 4. Expenditure on acquiring Patent Right 84000 Rs. 5. Expenditure on Advertisement- paid in cash 18000 Rs. 6. Amount paid to Rajasthan University for an approved Research PROGRAMME in Social SCIENCE Not connected with his business 20000 Rs. 7. Provision for Excise duty 45000 Rs. (He paid only Rs. 20000 before the due date of filling I.T. return) |
|
| 1980. |
9. The number of members in casepartnership form of business shouldnot exceed *O a. 10 in case of banking businessb. 30 in case of non-banking businessOc. 20 in case of banking businessO d. None of the above |
|
Answer» Answer: ANS ....a Explanation: as per companies act 1956 in case of banking BUSINESS not more than 10 but now its change as per NEW act 'companies act 2013 'maximum no. of MEMBER are 100 for both banking and non banking. |
|
| 1981. |
Meaning of sound?pl answer in need |
|
Answer» Answer: In physics, sound is a vibration that propagates as an ACOUSTIC wave, through a transmission medium such as a GAS, liquid or solid.In human physiology and psychology, sound is the RECEPTION of such waves and their perception by the brain.Only acoustic waves that have frequencies lying between about 20 Hz and 20 kHz, the audio frequency range, elicit an auditory percept in humans. In air at atmospheric pressure, these represent sound waves with wavelengths of 17 meters (56 FT) to 1.7 centimetres (0.67 in). Sound waves above 20 kHz are known as ULTRASOUND and are not audible to humans. Sound waves below 20 Hz are known as infrasound. Different animal species have varying hearing ranges. |
|
| 1982. |
Explain the procedure of incorporating the branch trial balance in the books of head office |
|
Answer» Answer: Under this METHOD, in order to incorporate all revenue items, a Branch. Trading and PROFIT and Loss Account is PREPARED. But profit/loss, asset and LIABILITIES are INCORPORATED through Branch Account for Consolidated Balance Sheet purposes. |
|
| 1984. |
Ya spamming kaya hota ha muja nahi pata agar mari galti ha to sorry but pahala muja ya bata oo |
| Answer» | |
| 1985. |
6. The acceptor of a Bill of Exchangeisa. DebtorO b. creditorO c. sellerO d. none |
|
Answer» CREDITOR...... HOPE it HELPS you |
|
| 1986. |
The following is theBalance sheet ofHai, Giri, and Suri as on 31/3/2029 |
|
Answer» SORRY I don't the answer |
|
| 1987. |
Find out total indirect expenses of departmental a after all |
|
Answer» Explanation: Hey! According to Thomson€™s model of the atom, an atom consists of both negatively and positively charged particles. ... The negatively charged particles are EMBEDDED in the positively charged sphere. These negative and positive charges are equal in magnitude. Atoms are electrically neutral because they have equal numbers of protons (positively charged) and electrons (negatively charged). If an atom gains or LOSES ONE or more electrons, it becomes an ion. Thomson knew that atoms had an OVERALL neutral charge. Therefore, he reasoned that there must be a source of positive charge within the atom to counterbalance the negative charge on the electrons. ... The plum pudding model depicts the electrons as negatively-charged particles embedded in a sea of positive charge. |
|
| 1988. |
Where will you record the depositing of ‘Cheque-in-Hand’ in the Cash Book?(a) Debit side of cash column (b) Credit side of cash column (c) Debit side of bank column (d) Credit side of bank column. |
| Answer» | |
| 1989. |
Ales made for cash’ is recorded in cash book.(a) Credit side of cash column (b) Debit side of bank column (c) Credit Sales (d) All of the above. |
| Answer» | |
| 1990. |
Following figs related to two companies:Pltd Q ltdsales 750 1000VC 300 300Contribution 450 700FC 225 400EBIT 225 300Interest 75 100PBT 150 200Calculate operating leverage, Financial Leverage and combined leverage. |
|
Answer» Answer: 7ur6e o7c9ro7rc6r8 Explanation: sidp84tsdifuodpdpugpudor |
|
| 1991. |
Mr. Rathan furnished the following particulars of the income for the financial year 2019-20a. Basic Salary Rs. 45,000 pmb. Dearness Allowances ( enters in to retirement benefit) @ 50% on salaryc. Bonus Rs. 50,000 pa and Entertainment Allowance Rs.1,500 pmd. He has been provided with a large car for both official and personal use.Employer bears all expenses of the car.e. Income Tax paid by Employer Rs. 10,000/-f. The employer has employed for him a sweeper @ Rs. 2,000/- pm andServant Rs. 1,500/- pmg. Employer contribution to RPF Rs. 50,000 pah. Interest on provident fund @ 10% Rs. 20,000 pai. He is provided an unfurnished house by the employer in a city (population as 2001 census 12 lakh).The fair rental value of the house is Rs. 30,000 p.a. Employees Charges Rs. 500 from him per month as rent.Compute the taxable income under the head salary for the Assessment year 2020-21 |
|
Answer» നിങ്ങൾക്ക് ഒരു ചാനൽ ഉണ്ട് ഇത് വിഡ് ID ിത്തമാണ്, ഇത് എന്റെ അറ്റാച്ചുചെയ്ത കവർ ഇംഗ്ലീഷിൽ വിശാലമായ ഒരു ശ്രേണി കാണും, തത്സമയ കാഴ്ച വരെയുള്ള എന്റെ പിന്തുടരലുകളിൽ ഒന്ന് മാത്രമേ എനിക്ക് മികച്ച ഭാഗ്യം പുനരാരംഭിക്കാൻ ഉള്ളൂ |
|
| 1992. |
a firm purchase a machine for 22500 on 1 St January 2014 with the assumption that this machine has a residual value of 2500 at the end of it's life .on 1 St July 2015 and 1 St January ,2016 another machine were purchased respectively for 5600 residual value 600 and 3300 residual value 300 . prepare machine account for 2014 2015 and 2016.charge depreciation by fixed instalment method assuming that all machine have a life of five year |
| Answer» | |
| 1993. |
A mining company's iron ore reserves are being depleted and its cost of recovering a declining quiantity of iron are raising each year. As a sequel to it, the company's earning and the dividend are declining ata rate of 8% per year. If the previous years dividend was rs 10 and ror is 15% what would be the current price of the equity share of the company. |
|
Answer» Equity 12.5% 4/20 2.50 12% debenture 7.2% 4/20 1.44 18% Term LOAN 10.8% 12/20 6.48 Weighted average cost= 10.42 Problem 6 The following information is available from the Balance Sheet of a COMPANY Equity SHARE capital – 20,000 shares of Rs. 10 each Rs. 2,00,000 Reserves and Surplus Rs. 1,30,000 8% Debentures Rs. |
|
| 1994. |
sold goods to suresh 45000. suresh accepted a bill for 35000 what happened to the 10000. is it discount allowed or is it still due to us? |
| Answer» | |
| 1995. |
The following information related to a partnership firm in profit |
|
Answer» Answer: |
|
| 1996. |
XYZ ltd issues 10% bonds with Face value of Rs 1000, maturable in 5 years time. Find out the value of the bond if the company pays a coupon payment of Rs 50 every half year and the maturity value is at par. Required rate of Return is 10%. |
|
Answer» I am so SORRY I didn't know that I am so SAD because I am not ABLE to help you |
|
| 1997. |
Sold goods costing Rs40000 for Rs 52000 to sneha |
|
Answer» bxnamalpqidufbfbdnanxicidgvs ssnksoxoc. |
|
| 1998. |
Q. 11. (i) Any income earned whetherreceived or not are recorded, (ii) Anyexpense incurred whether paid ornot are recorded, these are theexamples of which accountingmethod? *O Mixed Method |
| Answer» | |
| 1999. |
A ,B and C are partners sharing profits in the ratio 2:2:1. B retires from the firm .The capital account of A,B and C are Rs 60,000 Rs70,000 and Rs 50,000 respectively after adjustment of goodwill, reserves and revaluation . B was to paid in cash brought in by A and C in such a way that their capital are in proportion of new ratio . What amount must A and C bring to pay B : * |
|
Answer» On 1.1.20 X Ltd. purchased fixed assets worth 2,50,000 for a CONSIDERATION of * 2,30,000 PAYABLE by the issue of 20,000 fully paid equity shares of 10 each at a premium of 15%. After 6 MONTHS X Ltd. SOLD the above fixed assets for * 3,20,000. |
|
| 2000. |
AmouR.XXXXXXxxprofit and Lon account of Mr-kumas for theyear ending 31.3.2009Grous prohit Rs. 125000 , Salariy Rs.5sdoo,carriage on sale Rs. 5000, Discount AllowedRs. 7500, Bad Debts Rs. 2500, Office RentRates & Insurance Rs. 4000, postage &Telephone.RS:1000, Depreciation Rs.6000,Repairs Rs. 4000 Interest on capitalRS.3500. Low due to fire accident Rs.8000, ,1901 tagabon.AdvertisementRs.2000, Interest onsDrawingsRent Received Rs.3000,profit on sale of Amet Rs.1000, DiscountCaz Received RS.4000 , Dividends Received Rs.2000,Generalpointing& Stationery Rs:ISDOand Apprentice shipcharges Rs. 3500premiumXXRS. 2000XXXXXXRS. 1500 ECOro borrie |
|
Answer» Answer: d2005 eptember 1. Started business with Rs. 100,000, paid into Bank Rs. 40,000, 2. Bought furniture for Rs. 10,000 and machinery for Rs. 20,000 3. Purchased goods for Rs. 28,000. 6. Sold goods for Rs. 16,000. 8. Purchased goods from Ishtiaq & Co. Rs. 22,000. 10. Paid telephone rent for the YEAR by cheque Rs. 1,000. 11. Bought one typewriter for Rs. 4,200 from Universe Typewriter Co. on credit. 15. Sold goods to KHURRAM for Rs. 24,000. 17. Sold goods to Ajmal for Rs. 4,000 for cash. 19. Amount withdrawn from bank for personal use Rs. 3,000. 20. Withdrew from bank for business use Rs. 7,000. 21. Received cash from Khurram Rs. 23,800, DISCOUNT ALLOWED Rs. 200. 22. Paid into bank Rs. 11,600. 25. Goods worth Rs. 2,000 found defective were returned to Ishta & Co. and the balance of the amount due to them was settle by issuing a cheque in their favour. 28. Bought goods worth Rs. 4,200 from Aslam and supplied then to Akram at Rs. 6,000. 30. Akram returned goods worth Rs. 200, which in turn were se to Aslam at Rs. 140. 30. ISSUED a cheque for Rs. 2,000 in favour Explanation: 2005 eptember 1. Started business with Rs. 100,000, paid into Bank Rs. 40,000, 2. Bought furniture for Rs. 10,000 and machinery for Rs. 20,000 3. Purchased goods for Rs. 28,000. 6. Sold goods for Rs. 16,000. 8. Purchased goods from Ishtiaq & Co. Rs. 22,000. 10. Paid telephone rent for the year by cheque Rs. 1,000. 11. Bought one typewriter for Rs. 4,200 from Universe Typewriter Co. on credit. 15. Sold goods to Khurram for Rs. 24,000. 17. Sold goods to Ajmal for Rs. 4,000 for cash. 19. Amount withdrawn from bank for personal use Rs. 3,000. 20. Withdrew from bank for business use Rs. 7,000. 21. Received cash from Khurram Rs. 23,800, discount allowed Rs. 200. 22. Paid into bank Rs. 11,600. 25. Goods worth Rs. 2,000 found defective were returned to Ishta & Co. and the balance of the amount due to them was settle by issuing a cheque in their favour. 28. Bought goods worth Rs. 4,200 from Aslam and supplied then to Akram at Rs. 6,000. 30. Akram returned goods worth Rs. 200, which in turn were se to Aslam at Rs. 140. 30. Issued a cheque for Rs. 2,000 in favour |
|