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Question 1
From the following information ascertain the closing balance of debtor’s
Opening balance of debtor = Rs. 32,600
Total sales = Rs. 1,03,000
Cash collected from debtors = Rs. 70,000
Sales return = Rs. 1500
Discount on purchase = Rs. 1200
Cash sales = Rs. 43000
Bad debts = Rs. 700
Opening balance of debtor = Rs. 32,600
Total sales = Rs. 1,03,000
Cash collected from debtors = Rs. 70,000
Sales return = Rs. 1500
Discount on purchase = Rs. 1200
Cash sales = Rs. 43000
Bad debts = Rs. 700
Question 2
Which accounting concepts makes a distinction between the receipt of cash and the right to receive the cash?
Question 3
Four washing machines are in stock with a dealer
Find out the value of stock for balance sheet as per AS-2?
![](https://gradeup-question-images.grdp.co/liveData/PROJ8651/1509705273157680.png)
Find out the value of stock for balance sheet as per AS-2?
Question 4
Annuity method is designed for which of the following:
Question 5
Debit the expanses or losses, credit all incomes and gains, is the rule for
Question 6
Which of the following will result to “Favorable balance” as per pass book :
1) Locker rent levied by the bank
2) Wrong debit in cash book
3) Wrong debit in pass book
4) Income directly received by bank
1) Locker rent levied by the bank
2) Wrong debit in cash book
3) Wrong debit in pass book
4) Income directly received by bank
Question 7
AS-8 on accounting for Research and development
Question 8
Which of the following statement is/are true :
1) Noting charges is an expense to be borne by the drawee
2) Accounts Payable can draw a bill on account receivables
3) A bill of exchange is a negotiable instrument
4) If the maturity date of the bill is a sudden holiday then the preceding day will be the new maturity date.
1) Noting charges is an expense to be borne by the drawee
2) Accounts Payable can draw a bill on account receivables
3) A bill of exchange is a negotiable instrument
4) If the maturity date of the bill is a sudden holiday then the preceding day will be the new maturity date.
Question 9
An amount of Rs 1000 which is of a dishonored bill has been debited from the general expense account. Select the correct answer from the given options :
Question 10
Prepaid expense of financial year relates with:
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Jan 21SSC & Railway