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Q1241

Open question

The debtors are Rs. 30,000 (before bad debts of Rs. 1,000 and provision of bad debts at 5%). A provision for discount on debtors @ 2% would be-

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Q1242

Open question

Current ratio can be increased-

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Q1243

Open question

When there is no agreement between partners for sharing profits and losses then it should be shared among partners in what ratio.

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Q1244

Open question

If minimum subscription is not received, application money should be refunded within how many days?

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Q1245

Open question

A, B and C were partners with a capital of Rs. 50,000; Rs. 40,000 and Rs. 30,000, respectively, carrying on business in partnership. The firm's reported profit for the year was Rs. 80,000. As per the provision of the Indian Partnership Act, 1932, find the share of each partner in the above amount, taking into consideration that interest has not been provided on an advance of Rs. 20,000 by A in addition to his capital contribution.

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Q1246

Open question

Accounting in modern age is regarded as:

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Q1247

Open question

A company redeemed its 2,00,000/- preference shares. For this it issued equity share capital of Rs. 1,50,000/- and Rs. 1,00,000/- bonus shares were also issued. What will be the net effect of these transactions on fund flow

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Q1248

Open question

When goods distributed as free samples and charity purpose, one of the following journal entry mentioned below is correct.

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Q1249

Open question

X and Y are partners who share profit and loss in the ratio of 2 : 1, and who have capital balances (credit) of Rs. 40,000 and Rs. 30,000 respectively. If Z, with the consent of Y, acquired one-half of X's interest for Rs. 25,000, for what amount would Z's Capital Account be credited:

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Q1250

Open question

The main source of working capital is-

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Q1251

Open question

Owners equity balance at the end is Rs. 21,000. During the year additional capital introduced by owner is Rs. 6,000 and drawings made is Rs. 4,000. If net profit for the year is Rs. 8,000. Then what is the balance of owner is equity in the beginning?

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Q1252

Open question

Amount set aside out of divisible profit and invested outside is known as:

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Q1253

Open question

The private property of a partner should be used to

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Q1254

Open question

Closing balance of depreciation fund is transferred to which of the following account

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Q1255

Open question

The rate of interest @ . . . . . . . . p.a is to be allowed to a partner for Advances/Loans given, assuming the partnership deed stays silent on the matter.

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Q1256

Open question

Accounting Standard-6, relating to depreciation, is recommended for use by

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Q1257

Open question

Formula for net cash inflow of a project is:

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Q1258

Open question

On attaining majority if a minor partner in the firm elects to continue as a partner, he shall be liable to the debts of the firm, from.

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Q1259

Open question

X, Y and Z are partners and share profit and loss in the ratio of

\frac{1}{2}, \frac{1}{3}

and

\frac{1}{6}

. Z dies. The gaining ratio of X and Y will be

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Q1260

Open question

On 31^st March, 2019, total debtors are Rs. 25,000 and bad debts are Rs. 1,000 so if rate of discount on debtors is 2% and rate of provision for bad debts is 5% then the amount of discount on debtors will be

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Accountingpractice.

Accounting
practice.