Financial State...

________ = exp paid + o/s expense - prepaid exp.

If the rent received in advance 2,000. The adjustment entry will be ________.

XYZ's A/c appeared in the Books of ABC Associated as a Debtor owing Rs.5000 to the Firm. XYZ has been declared insolvent and a final dividend of Rs.0.25 in a rupee is expected to be realised from his estate. Find the amount likely to become bad debt from XYZ.

Accrued Income means _______.

From the following details calculate the net profit after charging managerial commission.
Net profit before charging managerial commission Rs.65,000
Managerial commission 11% after charging such commission.

Rs.1250 was recovered from Sohan a Debtor which represent merely 0.25 in a rupee. Find the amount actually becoming bad debt if Sohan has been declared insolvent.

In a mercantile system of accounting adjustment is required for _______.

Goods worth Rs. 36,000 were lost in fire. The goods were insured to the extent of Rs.20,000. Loss on account of fire would be accounted for as under________.

Expenses paid but not accounted as expenses means ________.

Adjustment entries are those which are passed________.