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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.
| 351. |
Drawings of equal amount are made during at the beginning of each month, than average |
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Answer» Answer: the first time in the world of a DAY is a good morning and QUERIES please do the needful for the WORKSHOP |
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| 352. |
9. Meaning of return outward is (a) Cash Sales (c) Purchase Return (b) Sales Return |
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| 353. |
• Calculate peorchese the folence etia and sold 17000 cash flow glas from weshing acomunitas from the folle I machine F 850 cr Sale Goodwill furchase 340, 6To investment %, machi investment 510,000 Bettends debenture held investment Bruidend veereiud Share held as A Buce f building was fourchasd as inueshment out of Sophus. It was let and interest received on 136. 3600 20 9400 aut F68.000 |
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Answer» jdhyjyf dndbdnd Explanation: bxhbfnfjedjjffjdj cdjsjfjdjrjdkdhdhff is Alia firdoush roll no 35 class 5 B mam my NAME is Alia firdoush roll no 35 class 5 B mam my name is not no no no 35 no no no no no 35 class 5 B mam I have no 35 |
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| 354. |
Managers commotion is a______ against profit |
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Answer» Answer: Managers commission is CONSIDERED as a appropriation against a PROFIT and LOSS. In Profit and loss appropriation account managers commission is DEDUCTED from profit. |
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| 355. |
Average profit of past agreed years is known as |
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Answer» Answer:goodwill Under average profits METHOD, goodwill is valued at AGREED NUMBER of PURCHASE of the average profits of the PAST few years. Explanation: |
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| 356. |
Journalise the following transaction of the book of tmt amutha |
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Answer» ddftesgbh7rwsgjiurfjk7ewshi63asf Explanation: |
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| 357. |
Which of the following items will no be shown in the profit and loss appropriation account |
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| 358. |
Purchase a computer and printer for a total of Rs 35000 with a down payment of rs 15000 and the balance due in 10th of feb. |
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Answer» Answer: 20,000 will be the answer simplr |
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| 359. |
Under what headings will you show the following items in the Balance Sheet of the Company: (i)Goodwill (II) Unclaimed Dividends (III)Provision for Tax (iv) Securities Premium Reserve (v) Loose Tools (vi) Mining Rights |
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| 360. |
Q5. Prepare Accounting Equation from the following:-(i) Suresh started business with cash. Rs. 80,000 (ii) Purchased goods for cash Rs. 28,000 (iii) Sold goods on credit Rs. 40,000 (Cost price Rs. 30,000) (iv) Paid rent Rs. 2,000 |
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Answer» Answer: Particulars. debit rs. Credit rs I). Cash A/c. dr. 80000. To proprietor A/c 80000 (Business was started) II). Purchases A/c. dr. 28000 To cash A/c. 28000 (Goods are SOLD) III) Cash A/c dr. 30000 PROFIT A/c. dr. 10000 To Sales Alc 40000 (Goods sold with profit) IV) Rent A/c. dr. 2,000 To Cash A/C. 2000 (Rent is payase) hope this is HELPFUL |
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| 362. |
Dec. 01 Business started with cash 1,20,000Dec. 02 Opened a bank account with ICICI 4,00,00Dec. 04 Goods purchased for cash 12,000Dec. 10 Paid cartage 500Dec. 12 Goods sold on credit to M/s Lara India 25,000Dec. 14 Cash received from M/s Lara India 10,000Dec. 16 Goods returned from Lara India 3,000Dec. 18 Paid trade expenses 700Dec. 19 Goods purchased on credit from Taranum 32,000Dec. 20 Cheque received from M/s Lara India for final settlement 11,500and deposited sameday into bankDec. 22 Goods returned to Taranum 1,500Dec. 24 Paid for stationery 1,200Dec. 26 Cheque given to Taranum on account 20,000Dec. 28 Paid rent by cheque 4,000Dec. 29 Drew cash for personal use 10,000Dec. 30 Cash sales 12,000Dec. 31 Goods sold to M/s Rupak Trader |
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Answer» Answer: Dec. 01 Business started with cash 1,20,000 Dec. 02 Opened a bank account with ICICI 4,00,00 Dec. 04 Goods purchased for cash 12,000 Dec. 10 Paid cartage 500 Dec. 12 Goods sold on credit to M/s Lara India 25,000 Dec. 14 Cash received from M/s Lara India 10,000 Dec. 16 Goods returned from Lara India 3,000 Dec. 18 Paid trade expenses 700 Dec. 19 Goods purchased on credit from Taranum 32,000 Dec. 20 Cheque received from M/s Lara India for final settlement 11,500 and deposited sameday into bank Dec. 22 Goods returned to Taranum 1,500 Dec. 24 Paid for stationery 1,200 Dec. 26 Cheque given to Taranum on account 20,000 Dec. 28 Paid rent by cheque 4,000 Dec. 29 Drew cash for personal use 10,000 Dec. 30 Cash sales 12,000 |
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| 363. |
4. Comparing cash and accrual basis accounting for revenuesTariq’s Tax Services collect their fees at the end of the completed tax filing for their customers. In some cases, customers do not pay immediately upon receipt of the copy of the filing but request for a quotation and invoice for services after which they might take a month or two to pay. At the end of June, Tariq has collected 60% of the total $4,980 owed by customers for tax services completed.Calculate how much fees Tariq’s Tax Services should record under thea. cash basis? b. accrual basis? |
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Answer» EXPLANATION:because accrual basis will HELP you . |
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| 364. |
A business has earned average profit of Rs. 7,50,000 during the last few years and average capital employed during the same period amounted Rs.60,00,000 normal rate of return in similar business is 10%. Assets of the business were Rs. 82,00,000 and its external liabilities Rs. 15,00,000. Find value of goodwill by: (i) Capitalisation of Average Profit Method; (ii) Capitalisation of Super Profit Method; (iii) Super Profit Method if the goodwill is valued at 3 years' purchase of super profit. |
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Answer» Answer (i) Capitalisation of Super Profit METHOD: Step 1: Calculation of CAPITAL Employed: Capital Employed= ASSETS- External LIABILITIES = 4000000- 720000 = 3280000 Step 2: Calculation of Normal Profit: Normal Profit= 3280000 * [10/100] = 328000 Step 3: Calculation of Average Profit: Average Profit= 400000 Step 4: Calculation of Super Profit: Super Profit= 400000- 328000 = 72000 Step 5: Calculation of Goodwill: Goodwill= Super Profit * [100/Normal Rate Of Return] = 72000 * [100/10] = 720000 (ii) Super Profit Method: Step 1: Calculation of Capital Employed: Capital Employed= Assets- External Liabilities = 4000000- 720000 = 3280000 Step 2: Calculation of Normal Profit: Normal Profit= 3280000 * [10/100] = 328000 Step 3: Calculation of Average Profit: Average Profit= 400000 Step 4: Calculation of Super Profit: Super Profit= 400000- 328000 = 72000 Step 5: Calculation of Goodwill: Goodwill= Super Profit * NUMBER of years' of purchase = 72000 * 3 = 216000 |
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| 365. |
12: The provision for tax at the beginning of the year was Rs. 7,500. In the current year the profit and loss account was debited for the purpose of Tax was Rs. 22,500. If the closing balance in the Provision for Tax was Rs. 5,000, what will be the tax paid during the year? 3572405435 Tax paid during the year will be in the range of Rs 30,000 and above. |
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Answer» weowwo29 Explanation: ekekrkdkffncnjdidkekeieieododofockd |
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| 366. |
How to become a Charted Accountant . and what is process being a Charted Accountent. |
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| 367. |
Q.11 From the following Trial Balance of M/s Pravin and Ramesh, you are required to prepareTrading and Profit and Loss Account for the year ended 31st March, 2013 and BalanceSheet as on that date.Trial Balance as on 31st March, 2013 |
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Answer» yvyvyvyg7j8jijih8k9k9k9htdrfgrdrc6grdrgygtfrd5gyvtgtvtf5f5f5f5f5 |
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| 368. |
on 1st April 2019 to FS capital was 200000 on 1st October 2018 introduce additional capital of first land and trust on capital 6 present per annum on 31st March 2019 will be |
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Answer» PLEASE MAKE me BRAINLEAST |
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| 369. |
x,y,z psr 4:3:2.y retires and surrenders 1/9th pf his share in favour of x and the remainingin favour of z find new psr,gr |
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Answer» Answer: Old RATIO (A and B) = 7 : 3 SACRIFICE ratio of A = (7/10) * (1/7) = 1/10 Sacrifice ratio of B = (3/10) * (1/3) = 1/10 New ratio = Old ratio - Sacrificing ratio A's new ratio = (7/10) - (1/10) = 6/10 B's new ratio = (3/10) - (1/10) =2/10 C's SHARE = A's sacrifice + B's sacrifice = (1/10) + (1/10) = (2/10) New PROFIT sharing ratio = 6 : 2 : 2 or 3 : 1 : 1 Sacrificing ratio of A and B = 1 : 1 |
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| 370. |
Show the accounting equation on the basis of the following transaction.1. X Started business with Cash - Rs. 20,0002. purchased goods from y - Rs.5,0003.sold goods to Z costing rs.1,800- Rs.1,5004.Ram withdrew from business- Rs.2,500 please be sure to slavishly |
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Answer» CASH a/c. dr. 20000 To X's CAPITAL A/c 20000 purchases a/c. dr. 5000 To Y. a/c 5000 Z A/c. dr. 1500 To cash. a/c 1500 Capital A/c. dr. 2500 To drawings a/c 2500 Hope it helpss... sorry if anything is wrong |
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| 371. |
उपर्युक्त सूचनाओं से निम्न अनुपातों की गणना कीजिए(अ) चालू अनुपात(ब) त्वरित अनुपात। |
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Answer» where is the सूचनाएं |
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| 372. |
Where we have to place ...patent in final accounts |
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Answer» Answer: Patents go in the intangible assets SUBSECTION of the CLASSIFIED BALANCE SHEET. |
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| 373. |
Double Entry Book Keeping (Section A)-ISCX2.12Illustration 8 (Weighted Average Profit Method when Past Adjustments are Made).Akhil and Nikhil are partners sharing profits equally. They adnutted Dinesh into partnershipwas agreed to value goodwill at three years purchase following Weighted Average Profit Methoon the basis of past five years' profits. Weights assigned to each year would be - years ende31st March, 2016-1, 2017-2, 2018–3, 2019-4 and 2020-5. The profits for these years were:31st March, 2019Year Ended31st March, 202031st March, 20183150 March 201631st March, 20171,50,000Profits1,75,0001,25,00080,00090.000Scrutiny of books of account revealed the following:1. There was an abnormal loss of 15,000 during the vear ended 31st March, 2016.2. There was an abnormal gain of 10,000 during the year ended 31st March, 20183. Closing Stock as on 31st March, 2019 was overvalued by * 15,000.Calculate value of goodwill.Solution: |
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| 374. |
Appropriateprofite.sra lesUnit 3: Accounting for CompaniesUnits/TopicsAccounting for Share Capital• Share and share capital: nature and types.Accounting for share capital issue andallotment of equity and preference shares.Public subscription of shares oversubscription and under subscription of shares;issue at par and at premium, calls in advanceand arrears (excluding interest), issue of sharesfor consideration other than cash.• Concept of Private Placement and EmployeeStock Option Plan (ESOP).• Accounting treatment of forfeiture andre-issue of shares.• Disclosure of share capital in the BalanceSheet of a company.Learning OutcomesAfter going through this Unit, the studentswill be able to:• state the meaning of share and share capitaland differentiate between equity shares andpreference shares and different types of sharecapitalunderstand the meaning of private placementof shares and Employee Stock Option Plan.explain the accounting treatment of sharecapital transactions regarding issue of shares.• develop the understanding of accountingtreatment of forfeiture and reissue of forfeitedshares.describe the presentation of share capital inthe balance sheet of the company as percount |
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Answer» Answer: very long QUESTION MARK me as BRAINLIEST FIRST |
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| 375. |
Journalise the following transactions in the books of manohar singh |
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| 376. |
8. On 1-4-2013, Brij and Nandan entered into partnership to constructtoilets in government girls schools in the remote areas of UttarakhandThey contributed capitals of 10,00,000 and 15,00,000 respectively.31-3-2009.Their profit sharing ratio was 2:3 and interest allowed on capital asprovided in the Partnership Deed was 12% per annum. During theyear ended 31-3-2014, the firm earned a profit of 2,00,000.Prepare Profit and Loss Appropriation Account of Brij and Nandan forthe year ended 31-3-2014.(C.B.S.E., 2015 A1)(Ans. Actual Interest on capital is 1,20,000 + 1,80,000 = 3,00,000 whichis less than actual profit * 2,00,000 so it should be shared in ratio of1,20,000 : 1,80,000 i.e., 2:3, i.e., * 80,000 and 1,20,000]Profit and lose anronriation Account with |
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Answer» DD Explanation: |
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| 377. |
BMr. X, a Senior Assistant availed himself of pre-sanctioned EL for 30days from 10.4 2007 to 9.5.2007. He superannuated on 31.1.2015. At thetime of retirement he had 190 days EL and 200 days HPL at his credit. Heapplied for commutation of leave for 20 days on 5.1.2015 duly supportedwith a medical certificate. How will you regulate his request forcommutation of leave from EL to HPL on medical grounds? |
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Answer» SORRY I don't UNDERSTAND the QUESTION |
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| 378. |
(a)Mr. 4 died while in service on 12.11.2014 He was survived by his wifeand two sons Wite died on 2401.2013. Eldest son Mr. Ibom on10.06.90 is unmarried physically disabled to the extent that he is unableto earn his livelihood Youngest son Mr Ybom on 29 08 1902 is alsounmarried but gor appointed as clerk in Government of HP.On16.12.2014. State how Family Pension is will be paid to each familymember |
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| 379. |
6. A partner withdraws for personal use the following amounts on different dates(1) * 3.000February 28, 201101) * 3,800April 30, 2011(0) 4,200June 1, 2011liv) * 3,000September 1, 2011iv) 4,000November 1, 2011 |
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Answer» this transaction are DONE for personal the TIS money willl be deducted by capital and cash because money is GONE out of BUSINESS |
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| 380. |
63. Profit earned by a partnership firm for the year ended 31st March, 2020 were distributed equally between thepartners-Pankaj and Anu-without charging interest on Drawings. Interest due on Drawings was Pankaj-Compute the3,000 and Anu- 1,000.Pass necessary adjustment entry. |
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Answer» Answer: have your answer Explanation: As the profits were DISTRIBUTED between Pankaj and ANU without allowing interest on CAPITAL, we have to FIRST reverse the profits that were distributed by passing the entry:- Pankaj's Capital A/c Dr. Anu's Capital A/c Dr. To Profit and loss appropriation A/c. (Being profit distributed earlier reversed)
Now we will pass the entry for allowing interest on capital to partners. Profit and loss appropriation A/c Dr. 4,000 To Pankaj's Capital A/c 3,000 To Anu's Capital A/c 1,000 (Being interest on capital being credited to partner's capital a/c) |
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| 381. |
Charge interest on capital @10percent per annum on120000journal entry |
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Answer» Answer: 89000 Explanation: PLEASE MARK as BRAINLIEST |
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| 382. |
M and N are partners in a firm. their capital contributions are ₹1,50,000 and ₹1,00,000 and their profit-sharing ratio is 3:2. immediately after the allocation of ₹80,000 as profit for the year ended 31st March, 2018, it was discovered that in arriving profit for 2017-18 the following two items have been ignored:(I) Accrued interest on investment₹1,000 .(ii) Outstanding wages ₹800. pass an adjustment journal entry |
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Answer» outstanding wages a/c DR Net profit a/c Dr to accrued interest on INVESTMENT |
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| 383. |
P and Q were partners in a firm sharing profiy in the ratio of 5:3 . on 1st april,2014 they admitted R as a new partner for 1/8 share in the profits with guaranteed profit of rs 75000. the new profit sgaring ratio between p and q will remain the same but they agreed to bear any deficiency on account of guarantee to R in the ratio 3:2 . the profit of the firm for the year ended 31st March,2015 was rs 400000.prepare profit and loss appropriation account of p,q& r for the year ended 31st March,2015 |
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Answer» I don't understand CLEARLY this QUESTION tested for the first to ADD a REVIEW of this question, but I have been in CONTACT me if |
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| 384. |
Parpare simple cash book. 1 may cash in hand rs 50000. 2 may cash purchase 10000 .8 may cash sales 8000. 15 may purchased furniture 5000 .25 may received commission 1000. 30 may paid rent 6000 |
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Answer» Explanation: Hope it HELPS you |
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| 385. |
What is profit? What is gain? And What is loss? |
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Answer» Profit and Loss. ... For example, for a SHOPKEEPER, if the value of SELLING PRICE is more than the cost price of a commodity, then its a profit and if the cost price is more than the selling price, it becomes a loss. |
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| 386. |
Computer ka arth prakar Hani Kiy |
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Answer» WDYM? |
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| 387. |
Write an application to principal for getting commerce stream instead of humanities in class 11 |
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Answer» Ohh y such HARD DIFFICULTY DON’T do it love what UR doing now humanities ain’t GOOD I’m serious |
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| 389. |
What it's revenue reciept? |
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Answer» REVENUE receipts can be defined as thosereceipts which NEITHER create any liability nor cause any reduction in the assets of the government. For example, TAXES received by the government, UNLIKE borrowings, do not create any liabilities for it. |
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| 391. |
What do you mean by capital reciepts? |
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Answer» Answer: CAPITAL receipts are receipts that create LIABILITIES or reduce FINANCIAL assets. They also refer to incoming cash flows. Capital receipts can be both non-debt and debt receipts. Loans from the general public, foreign governments and the Reserve Bank of India (RBI) FORM a crucial PART of capital receipts. |
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| 392. |
Select the correct alternative out of given ones:0. The statement, "Statistics is both a scienceand an art“, was given by:a) R.A. Fisher(b) Tippet(e) L.R. Connor(d) A.L. Bowley |
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Answer» ANSWER:anahzfihkuugakyjsbizbsnjss |
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| 393. |
Prepare receipts and payments account |
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Answer» Explanation: A MAN standing on truck which is moving with constant velocity at 147m/s The man throws a ball in such a way that it returns to the truck after the truck has moved 58.8m intal speed of ball is. A 9,8 in s 6. 19.6 m/s C.27.4 ms D. 30 ms E 34 4 ms |
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| 394. |
Sold goods to Rakesh in cash rupees 10000 and in credit rupees 50000 |
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Answer» MARK me brainliest Explanation: |
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| 395. |
Insurance paid for 15 months w.e.f 1 April 2018 as adjustment |
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Answer» SORRY I didn't UNDERSTAND UR QUESTION |
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| 396. |
Example of cash and cash equivalentsamanES |
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Answer» bxbxhdhdvdbdjsjajjssjdjdjchchhchchbvcvvxvxxxvxvx bdbnnfnbfbcbh dbbfhfxazlkkdkkjjjj Explanation: |
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| 397. |
Goods are DIFFERENT from Assets. A stock is a measure of Goods. But Stock is an Asset. How is that so?” |
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Answer» Answer: An asset class is a grouping of investments that exhibit SIMILAR characteristics and are SUBJECT to the same laws and regulations. Equities (stocks), fixed Income (BONDS), cash and cash EQUIVALENTS, real estate, commodities, futures, and other financial derivatives are examples of asset classes |
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| 398. |
Is preference share a equity or debt? |
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Answer» Preference shares are a kind of equity shares that do not have the same voting rights as ORDINARY equity shares. Unlike ordinary shares, preference shares PAY a pre-defined rate of dividend. The dividend is payable after all other payments are made, but before dividend is DECLARED to equity shareholders. Preference shares combine features of equity and debt, they carry equity risk as the principal is not secured and they GIVE out dividend similar to an interest. Preference shares can be convertible into ordinary shares as well as nonconvertible. |
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| 399. |
LiabilitiesSundry CreditorsBills payableBank LoanAssets52,000 Cash at Bank38,000 Stock60,000 DebtorsLess: Provision for Doubtful80,000 Debts25,000 InvestmentsPremises38,00090,000General reserve80,0003,000Capital A/S77,0001,75,000320,000PQ1,20,0001,75,000150,000R4,45,0007,00,0007,00,000A bill for 12,000 received from Amit discounted from bank is not met on maturity. The samehas to be settled by the firm itself. The Premises of the firm has realized an amount of33,45,000. The Investment has been valued at $150,000 and this has been taken over by thepartners in the profit sharing ratio. Debtors realized at 5% less than book value. The Goodwillof the firm realized 336,000. The creditors are paid in full less 10% discount. The Realisationexpenses amounted to718,000.Assount, Partners' Capital Accounts and Bank Account.35,2025. P, Q and R were partners in the firm sharing profits in the ratio of 532. The firm has beendissolved on 31.12.18 and the Balance sheet on the same date was as under:Investments Fluctuation Reserve |
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Answer» |
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