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Final Accounts ...

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  • Question 1
    1 / -0

    Carriage outwards appears in __________, whereas carriage inwards appears in.

  • Question 2
    1 / -0

    From the following figures ascertain the gross profit.

    ParticularsRs.
    Opening Stock$$2,50,000$$
    Goods Purchase$$13,00,000$$
    Freight$$50,000$$
    Closing Stock$$1,50,000$$
    Sales$$19,00,000$$
    Salary$$90,000$$

  • Question 3
    1 / -0

    The balance in books of X, a sole proprietor were: Opening Stock Rs. $$17,000$$, Purchase Rs. $$52,000$$, Wages Rs. $$46,500$$, Freight Rs. $$15,000$$. Sales Rs. $$145,000$$ and Closing Stock Rs. $$25,000$$ whose Net Realizable value was Rs. $$28,000$$. Gross Profit$$=$$?

  • Question 4
    1 / -0

    Choose the true statement.

  • Question 5
    1 / -0

    Which of the following is not classified as inventory in the financial statements?

  • Question 6
    1 / -0

    Which of the following principle/s must be kept in mind while preparing Trading and Profit & Loss Account?

  • Question 7
    1 / -0

    Balance of manufacturing account i.e., cost of production is transferred to.

  • Question 8
    1 / -0

    Generally ___________ appears in trading account and _________ appears in Profit & Loss Account.

  • Question 9
    1 / -0

    While preparing final account, to record commissions payable to manager- which of the following adjustment entry will be passed?

    Profit & Loss A/c
    To Commission Payable A/c
    		Dr.
    Commission Payable A/c
    To Profit & Loss A/c
    		Dr.
    Manager A/c
    To Commission Payable A/c
    		Dr.
    Profit & Loss A/c
    To Manager A/c
    		Dr.

  • Question 10
    1 / -0

    Which of these Accounts does not appear in Trading A/c?

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