Q1481
Open questionWhen a company purchases its own debentures as an investment, 'own debentures account' is debited with:
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Q1482
Open questionBonus shares can be issued out of
i. General reserve
ii. Capital Gain
iii. Revaluation
iv. Profit and loss (Cre.)
Which of the following is correct
i. General reserve
ii. Capital Gain
iii. Revaluation
iv. Profit and loss (Cre.)
Which of the following is correct
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Q1483
Open questionFees paid to lawyer for drawing a purchase deed of land is which type of expenditure?
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Q1484
Open questionThe partnership of R and S was dissolved. Rs. 38,000 was received from sale of all assets. Rs. 14,000 claim of all parterres were paid. If R's capital is twice of capital balance of S, then the balance of S's capital will be
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Q1485
Open questionPurchased a machinery for Rs. 50,000, but debited to purchases account. It is a:
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Q1486
Open questionWhat should the seller do if the buyer fails to make the installments?
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Q1487
Open questionWhich of the following are shown is profit and loss appropriation account?
1. Salary to staff
2. Salary to partners
3. Interest on capital
4. Fresh capital introduced
5. Share of profit
6. Amount of drawings
7. Interest on drawings
Select the correct answer:
1. Salary to staff
2. Salary to partners
3. Interest on capital
4. Fresh capital introduced
5. Share of profit
6. Amount of drawings
7. Interest on drawings
Select the correct answer:
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Q1488
Open questionA, B and C were partners sharing profits and losses in the ratio of 3 : 2 : 1. They decided to dissolve the partnership and to distribute the sale proceeds as and when realised. The partner's capitals were:
A - Rs. 10,000, B - Rs. 9,000 and C - Rs. 5,000, B's loan amounted to Rs. 3,000, and Sundry Creditors to Rs. 6,000.
Assets realisation and expenses were as under:
In September B will receive:
A - Rs. 10,000, B - Rs. 9,000 and C - Rs. 5,000, B's loan amounted to Rs. 3,000, and Sundry Creditors to Rs. 6,000.
Assets realisation and expenses were as under:
| Assets Realised | Expenses | |
| July | Rs. 5,300 | Rs. 500 |
| August | Rs. 3,600 | Rs. 200 |
| September | Rs. 4,500 | Rs. 300 |
| October | Rs. 4,500 | Rs. 200 |
In September B will receive:
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Q1489
Open questionOn dissolution of a partnership firm the debit balance of profit and loss A/c is transferred to:
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Q1490
Open questionNominal A/c is:
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Q1491
Open questionAssertion (A): A joint stock company can issue Bonus shares out of its Capital Reserve.
Reason (R): The company can satisfy the share holders and avoid the outflow of cash from business by utilizing only the Capital reserve for the issue of bonus shares.
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Reason (R): The company can satisfy the share holders and avoid the outflow of cash from business by utilizing only the Capital reserve for the issue of bonus shares.
Select the correct answer:
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Q1492
Open questionIn balance sheet redeemable debenture whose payment has not been received by the debenture holder will be shown in
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Q1493
Open questionA machine is purchased on 1st January, 2001 for Rs. 1,00,000. Depreciation is to be charged at the rate of 10% P.A. by diminishing balance method. What will be the amount of depreciation shown is the profit and loss account for the year ending 31st December, 2004?
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Q1494
Open questionEarned net profit + Non activity and non-fund expenses are equal to
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Q1495
Open questionWhich of the following items cannot be shown as reserves?
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Q1496
Open questionCost of Goods sold in Hire-purchase system is transferred to
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Q1497
Open questionMeasuring cost and value of personnel for organisation is related to:
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Q1498
Open questionRead the following statements and give your answer according to the codes given below:
i. Credit on investment is calculated as a part of the final account preparation process
ii. Stock valuation is necessary to determine profit by creating a business account
iii. Working audit is a statutory requirement for auditing a company
iv. Garner vs. Murray case deals with the settlement of accounts in case of bankruptcy of a partner of a partnership firm
i. Credit on investment is calculated as a part of the final account preparation process
ii. Stock valuation is necessary to determine profit by creating a business account
iii. Working audit is a statutory requirement for auditing a company
iv. Garner vs. Murray case deals with the settlement of accounts in case of bankruptcy of a partner of a partnership firm
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Q1499
Open questionImprest system relates to:
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Q1500
Open questionOutstanding salary given inside trial balance will be shown in
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