Final Accounts ...

The capital of a sole trader would change as a result of ____________________.

A purchased goods costing 45,000. B sold goods costing Rs. 40,000 at Rs. 50,000. Balance goods were taken over by A at same gross profit percentage as in case of sale. The amount of goods taken over will be ________.

M and N enter into a joint venture where M supplies goods worth Rs. 6,000 and spends Rs. 300 on various expenses. N sells the entire lot for Rs. 7,800 meeting selling expenses amounting to Rs. 300. Profit sharing ratio equal. N remits to M the amount due. The amount of remittance will be _______________.

If a venturer draws a bill on his co-venturer and if the drawer discounts the bill with same sets of books maintained, the discounting charges will be borne by _______________.

A and B enter into a joint venture sharing profits and losses equally. A provides goods from his stock Rs. 10,000. He pays expenses amounting to Rs 1000. B incurs further expenses on carriage Rs. 2,000. He receives cash for sales Rs. 15,000. He also takes over goods to the value of Rs. 3,000. What will be the amount to be remitted by B to A Rs.

If the manager is entitled to a commission of $5\%$ on profits before deducting this commission, he will get a commission of Rs. __________ on a profit of Rs. 8400.

If at the beginning and ending of the period, goods inventories are $Rs. 400$ and $Rs. 700$ respectively and cost of goods sold is $Rs 3400$. Then net purchases are __________.

The following account has a credit balance _________________.

Which of the following statements is not true ?

A invoiced out certain goods so as to show a profit of 20% on invoice price. 1/10th of the goods were lost in transit. The cost price of goods lost is Rs 40,000. The invoice value of goods sent out will be ___________.