Cash Book Test ...

Sumit owns a company and purchase goods on credit from his personal funds and used the same for business purpose. What is the effect on assets

Payment to creditors in cash will affect

Match the following options are as follows:
a. Personal account
b. Nominal Account
c. Real Account
i. Furniture Account
ii. ICICI Bank Account
iii. Salary paid

Salary is an ____ for the employer and _____ for the employee

Decrease in ____ is debited

Find out the value of assets if: Liabilities= Rs.5000 and Capital= Rs.1000

Calculate the amount of cash if:  other assets( Except Cash) = Rs.10,000 liabilities= Rs.10,000 Total Capital= Rs.5000

If Cash= Rs.1000; inventories= Rs.4000 Debtors= Rs.5000; fixed assets=? Capital + Liabilities= Rs.18000. Find out the Amount of fixed assets?

Calculate Return Inward Journal (Book) from the following transactions of M/s Bansal Electronics for November 2010:
(a) M/s Gupta Traders returned the goods Rs.1,500
(b) Goods returned from M/s Harish Traders Rs.800
(c) M/s Rahul Traders returned the goods not as per specifications amounting to Rs. 1200
(d) Goods returned from Sushil Traders Rs.1,000. Options are as follows

Calculate purchase return amount from the following transactions for January 2011.
(a) Returned goods to M/s Kartik Traders Rs.1,200
(b) Goods returned to Sahil Pvt. Ltd. Rs.2,500
(c) Goods returned to M/s Kohinoor Traders for list price Rs.2, 000 less 10% trade discount.
(d) Return outwards to M/s Handa Traders Rs.550. Options are as follows