Financial State...

Interest on capital is ________ on business.

Manager's Commission is __________ to company.

Interest is calculated at a given rate of interest on capital as at the _____ of the accounting year.

New R.D.D. is to be deducted from ________.

The manager of the business is sometimes given the commission on _______.

Which of the following transactions is of capital nature?

A, B and C are partners in a firm. Though there is no provision in the partnership deed for interest on capital, this has been provided in the account @ 10% p.a. for the two years ended on 31 Dec., 2013. Their fixed capitals on which interest was calculated were throughout A Rs. 15,000, B Rs. 12,000 and C Rs. 9,000. Their profit sharing ratios were 2007 - 5:3:2 and 2008 - 2: 2: 1. The necessary adjustment entry will be made as:

When a fixed asset is acquired in exchange for another asset, its cost is usually determined by reference to the_________________.

Interest on capital will be ________.

There are certain items which are not recorded on day-to-day basis such as _________________.