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Dissolution expenses are credited to ______.
Concept: Concept of Dissolution of Partnership Firm
If an asset is taken over by partner from firm his capital account will be ___________.
Concept: Concept of Dissolution of Partnership Firm
Assets and liabilities are transferred to Realisation Account at their ______ value.
Concept: Concept of Dissolution of Partnership Firm
Give the word/term/phrase which can substitute the following statement.
Winding up of partnership business.
Concept: Concept of Dissolution of Partnership Firm
Answer in one sentence only.
Who is called insolvent person?
Concept: Concept of Dissolution of Partnership Firm
State whether the following statement is True or False.
On dissolution Cash or Bank Account is closed automatically.
Concept: Concept of Dissolution of Partnership Firm
Write the word/phrase/term/ which can substitute the following statement.
Expenses incurred on dissolution of firm.
Concept: Concept of Dissolution of Partnership Firm
Do you agree or disagree with the following statement:
On dissolution, cash/bank account is closed automatically.
Concept: Concept of Dissolution of Partnership Firm
The debenture holder is owner of the company.
Concept: Concept of Debentures
Write a word / term / phrase as a substitute of the following statement.
The acknowledgement of debt under common seal of company.
Concept: Concept of Debentures
Capital balance is ascertained by preparing....................................
- Statement of affairs
- Cash account
- Drawing account
- Debtor’s account
Concept: Concept of Financial Statement Analysis
Give one word/term/ phrase for the following statement
Critical evaluation of financial statement to measure profitability.
Concept: Concept of Financial Statement Analysis
Answer in one sentence.
What is CAS?
Concept: Computerized Accounting System (CAS)
Write the word/phrase/term which can substitute the following statement:
Tally software is classified into this category
Concept: Computerized Accounting System (CAS)
Select the most appropriate alternative from those given below and rewrite the statement.
Return outward are deducted from __________________.
Concept: Partnership Final Accounts
Write a short note on E-Commerce ?
Concept: Partnership Final Accounts
Concept: Partnership Final Accounts
Surekha and Sangita decided to undertake a venture jointly. They agreed to share profits and losses in the ratio of 3 : 2. Surekha supplied from her own stock goods worth Rs. 4,00,000 and paid Rs. 9,900 for freight and Rs. 2,400 for insurance. Sangita purchased goods of Rs. 3,90,000 for the venture and paid Rs 14,000 for selling expenses. Sangita accepted a bill for 3 months of Rs. 1,90,000 drawn by Surekha as an advance. The bill was discounted immediately by Surekha for Rs. 1,84,000 and the amount of discount was charged to Joint Venture Account. Sangita sold all the goods for Rs. 10,00,000. At end of the venture, the accounts were settled. Give journal entries in the books of Surekha.
Concept: Partnership Final Accounts
Rokadimal of Rajkot and Gunjal of Pune, entered into a Joint Venture to purchase and sale goods and agreed to share profit and losses in the proportion of 4 : 1 respectively.
Rokadimal paid Rs 11,500 for carriage.
Rokadimal discounted this bill with the bank for Rs 92,000.
Gunjal paid Rs 13,500 got advertisement.
Gunjal paid Rs 7,000 for selling expenses and he is entitled for a commission on sales at 5% Co-venturers settled their accounts.
Concept: Partnership Final Accounts
Write the word/phrase/term, which can substitute the following sentence.
Credit balance of Profit and Loss Account.
Concept: Partnership Final Accounts
