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Preparation for Commerce - Accounting

(20 Posts)

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This thread is dedicated to preparation for Fundamentals of Accounting section of Commerce. You may share questions related to topics like Partnership Accounts, Company Accounts, Accounting Process, Final Accounts, Theoretical Framework etc.

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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

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Debajit Borboruah

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

Https://www.toppr.com/guides/accountancy/trial-balance-and-rectification-of-errors/trial-balance-accounting-searching-errors/ Please type your answer before submitting.

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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. 3/5^th 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

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Charukhan Shaik

It is ps1

It is ps1 Please type your answer before submitting.

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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

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Debajit Borboruah

It should be D instead of B in the explanation.

It should be D instead of B in the explanation. Please type your answer before submitting.

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Debajit Borboruah

Posted on Apr 04, 2019 12:22 PM

Which of the following statement is not true?

If del-creder`s commission is allowed, bad debt will not be recorded in the books of consignor

If del-creder`s commission is allowed, bad debt will be debited in consignment account

Del-creder`s commission is allowed by consignor to consignee

Del-creder`s commission is generally relevant for credit sales

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Debajit Borboruah

A del crede commission is a commission which is paid as direct commission instead of paying through someone else. Del Crede commission is that of a surety who is liable to the principal if the purchaser defaults.

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Debajit Borboruah

Posted on Apr 03, 2019 9:36 AM

Debit balance as per Cash Book of ABC Enterprises as on 31.3.2006 is Rs. 10,000. Cheques deposited but not cleared amount to Rs. 1,000 and cheques issued but not presented amount to Rs. 2,000. Balance as per passbook should be Rs.

Rs. 11,000

Rs. 9,000

Rs. 10,000

None of these

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Debajit Borboruah

In the answer, Debit balance as per Cash Book should be Rs10,000

In the answer, Debit balance as per Cash Book should be Rs10,000 Please type your answer before submitting.

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Preparation for Commerce - Accounting

(20 Posts)

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Preparation for Commerce - Accounting

(20 Posts)

This thread is dedicated to preparation for Fundamentals of Accounting section of Commerce. You may share questions related to topics like Partnership Accounts, Company Accounts, Accounting Process, Final Accounts, Theoretical Framework etc.