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Accounting
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Q421

Which of the following formula is correct to calculate provision on debtors to be transferred to Profit and Loss Account?

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Q422

Profit on re-issue of forfeited share is transferred to which account?

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Q423

Debentures can be redeemed by:

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Q424

Distribution of income by way of public expenditure is

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Q425

If the cost of goods sold is Rs. 1 lakh, the value of opening and closing is Rs. 20,000 and Rs. 30,000 respectively, the stock turnover ratio will be:

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Q426

In absence of an agreement, loss arising out of a partner becoming insolvent shall be borne by solvent partner in

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Q427

An act of giving up the title to the shares by an allottee, in favour of his nominees either in full or in part is known as:

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Q428

If rate of profit is 25% of cost, then it is

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Q429

As per section 205 (2A) a company is obliged to transfer at least what amount in reserve, if the rate of dividend is more than 20% of the paid up capital?
or
If the proposed dividend is 20% the percentage of profits to be transferred to reserve is:

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Q430

Preference shares can be redeemed

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Q431

Non-convertible debenture refer to:

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Q432

X Ltd. purchased 70% of the shares of Y Ltd. at a price on 1,00,000. Share capital of Y Ltd. was of Rs. 70,000 and its accumulated profits amounted to Rs. 90,000. What would be the amount of Minority Interest in the consolidated balance sheet?

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Q433

If there is a decrease of Rs. 6,000 in the value of creditors, the journal entry will be

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Q434

In the absence of an agreement retiring partners share in the firm will be purchase by the remaining partners in the

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Q435

Accounting for price level changes is related to

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Q436

A trader does not keep a complete set of books and provides the following information-
He started business on 1^st June, 2004 with Rs. 10,000. He made withdrawals at the rate of Rs. 500 per month during the last 6 months. During the year, a further capital of Rs. 2,000 was invested. His total assets as on 31^st December, 2004 were Rs. 23,700, his creditors were Rs. 3,000 on the same date and unpaid expenses were Rs. 500 then his net profit would be-

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Q437

A and B are partners in the ratio of 2 : 1. They admit C for

\frac{1}{4}^{th}

share. C brings Rs. 3,000 for his share of goodwill. The total value of the goodwill of the firm is:

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Q438

Recieved Rs. 5,000 from Ram wrongly posted to his account as Rs. 50,000. This is error of

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Q439

Schedule VI given in Companies Act relates to:

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Q440

The interest on the Capital Accounts of partners is credited to

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