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Recording of Tr...

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  • Question 1
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    Normally, the following accounts are balanced ____________________.

  • Question 2
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    The words 'To Balance b/f' or 'By Balance c/f' are recorded in the particulars column at the time of _________________.

  • Question 3
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    Mohan purchased a machinery amounting Rs.10,000 on 1.4.2010.
    On 31.3.2019, similar machinery could be purchased for Rs.20,000 but the realizable value of the machinery (purchased on 1.4.2010) was estimated at Rs.15,000. The present discounted value of the future net cash inflows that the machinery was expected to generate in the normal course of business, was calculated as Rs 12,000.
    The realizable value of machinery is _____________.

  • Question 4
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    Rs. 3,750 paid on account of salary to the cashier Dhawan stands debited to his personal account. Which of the following rectification entry is correct?

  • Question 5
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    An amount of Rs. 8,000 received on account of interest was credited to Commission Account. Which of the following rectification entry is correct?

  • Question 6
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    The words 'To Balance b/f' or 'By Balance b/f' are recorded in the 'Particular Column' at the time of posting of _________________.

  • Question 7
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    Sale of Machinery by Mr. X, a dealer in stationery to Mr. Y for 120000 is recorded in _______________.

  • Question 8
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    Purchase of Machinery from Mr. X, a dealer in machinery for Rs. 100,000 is recorded in _______________.

  • Question 9
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    Goods brought in by the proprietor as his capital contribution are recorded in _______.

  • Question 10
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    Goods costing Rs.10,000 given s charity should be credited to ________________.

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