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Accounting from...

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  • Question 1
    1 / -0

    From the following details calculate net profit under accrual basis of accounting.
    Goods sold for cash Rs. 500000, Credit sales Rs. 25,000
    Cash purchases Rs. 400000, Credit purchases Rs. 50,000
    Wages paid Rs. 20,000, Outstanding expenses Rs. 10,000
    Rent paid Rs. 5000, Rent outstanding Rs. 2000 
    Depreciation on building Rs. 10,000
    Loss on sale of fixed assets Rs. 1000

  • Question 2
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    Opening Capital Rs. 30,000, Closing Capital Rs. 15,000, Loss during the year Rs. 8,000, Drawings Rs. 7,000, Additional Capital introduced will be ____________.

  • Question 3
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    F's capital on January 1, 20X2 is Rs. 45,000, Interest on drawing is Rs. 5,000, Interest on Capital is Rs. 2,000. Drawings is Rs. 14,000, Profit for the year is Rs. 15,000. His capital as on 31.12.20X2 is _____________________.

  • Question 4
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    Opening capital Rs. 20,000,
    Closing Capital Rs. 10,000,
    Profit during the year Rs. 5,000,
    Additional Capital introduced Rs. 1,000,
    Drawings will be _________.

  • Question 5
    1 / -0

    Which of the following is correct?

  • Question 6
    1 / -0

    Balance of interest on calls-on-advance account is transferred to the ___________ at the end of the year.

  • Question 7
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    Opening debtorsRs. 3,000
    Credit SalesRs. 80,000
    Cash received from debtorsRs. 60,000
    Find the amount of closing debtors.

  • Question 8
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    Which of the following is correct?

  • Question 9
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    Fixed Assets = Rs. 5,50,000, Currecnts assets = Rs. 2,25,000, Current liabilities = Rs. 1,50,000, bank loan = Rs. 1,75,000. Capital =?

  • Question 10
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    Closing capital Rs. 20,000, Loss during the year Rs. 1,000, Drawings Rs. 3,000, Additional capital introduced Rs. 4,000, Opening Capital will be _________.

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