Financial State...

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

Which of the following statements is not true?

Which of the following statement is not true ______________________.

A and B are two partners in a firm sharing profit and loss equally. C is admitted as a third partner for $$1_{/3}$$ share of profit for which he agreed to pay Rs. $$10,000$$ to each partner as his share of good will privately. How this will be accounted for in the books of the firm.

Adjustment entries are necessary in accrual system of accounting because ____________.

Consider the following adjusting entries:
1. Outstanding expenses : Expense A/c Dr To Outstanding Expenses A/c
2. Prepaid expenses : Expenses A/c Dr To Prepaid Expenses A/c
3. Income earned and not received : Income A/c Dr To Outstanding Income A/c
4. Income received in advance : Income A/c Dr To Prepaid Income A/c
Which of the adjusting entries given above is/are correct?

Non- provision for doubtful debts will lead to ......

The adjustment to be made for interest on drawings is ________________.

A and B are partners in a firm with profit sharing ratio of 2:3, they admit C as a partner for 1/3 share of profit. What would be the sacrificing ratio of A and B?

The adjustment to be made for provision for doubtful debt is ___________________.