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All posts related to Commerce

Debajit Borboruah
Posted on Apr 12, 2019 8:32 PM

In the case of a Giffen good, the demand curve will be

 
horizontal
downward sloping to the right
upward sloping to the right
backward falling to the left
Please type your answer before submitting.
Debajit Borboruah
Posted on Apr 09, 2019 9:56 AM

The preparation of a trial balance is for

 
locating errors of omission
locating errors of principle
locating clerical errors
All of these
Please type your answer before submitting.
Debajit Borboruah

Https://www.toppr.com/guides/accountancy/trial-balance-and-rectification-of-errors/trial-balance-accounting-searching-errors/

Debajit Borboruah
Posted on Apr 08, 2019 9:13 AM

X of Kolkata sends out goods costing Rs. 1,00,000 to Y of Delhi. 3/5th of the goods were sold by consignee for Rs. 70,000. Commission 2% on sales plus 20% of gross sales less all commission exceeds cost price. The amount of commission will be

 
Rs. 2,833
Rs. 2,900
Rs. 3,000
Rs. 2,800
Please type your answer before submitting.
Charukhan Shaik

It is ps1

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Debajit Borboruah
Posted on Apr 06, 2019 4:26 PM

On 31st March 2010 P, Q and R are three partners in a firm, sharing profits and losses in the ratio of 4 : 3 : 2. Now they have decided to share profits and losses equally. What will be the journal entry if the surrender value of Joint Life Policy is Rs. 2,70,000 and Joint Life Policy is not appearing in the books and partners have decided to show it in the books of the new firm.

 
No entry is required to be made
R's Capital A/c Dr 30,000
To P's Capital A/c 30,000
Joint Life Policy A/c Dr 2,70,000
To P's Capital A/c 1,20,000
To Q,s Capital A/c 90,000
To R's Capital A/c 60,000
None of the above
Please type your answer before submitting.
Debajit Borboruah

Rs 60,000 in the explanation should be on credit side (i.e. right hand column).

Debajit Borboruah
Posted on Apr 05, 2019 10:16 AM

A, B and C are equal partners. D is admitted to the firm for one-fourth share. D brings Rs. 20,000 capital and Rs. 5,000 being half of the premium for goodwill. The value of goodwill of the firm is

 
Rs. 10,000
Rs. 40,000
Rs. 20,000
None of these
Please type your answer before submitting.
Debajit Borboruah

It should be D instead of B in the explanation.