Please select a subject first
Advertisements
Advertisements
The person who endorses bill.
Concept: undefined >> undefined
Drawer and payee of a bill of exchange may be one and the same person.
Concept: undefined >> undefined
Advertisements
(a) On 1st January, 2010, Sameer informs Vivek that Mahesh's acceptance for Rs 32,000 endorsed to Sameer has been dishonoured. Noting charges Rs 800.
(b) On 1st February, 2010, Subhash renews his acceptance to Vivek for Rs 30,000 by paying Rs 14,000 in cash and accepting fresh bill for the balance plus interest @ 10% p.a. for 3 months.
(c) On 5th February, 2010, Dinesh retired his acceptance to Vivek for Rs 12,000 by paying Rs 11,600 in cash.
(d) On 1st March, 2010 Vivek sent a bill of Sohan for Rs 20,000 to Bank for collection. Bank informed that the bill has been dishonoured by Sohan.
Concept: undefined >> undefined
(a) Nandini informs Avadhoot that Nisha's acceptance for Rs. 5,000 endorsed to Nandini has been dishonoured. Noting charges amounted to Rs. 100.
(b) Dhanashri renews her acceptance to Avadhoot for Rs. 2,400 by paying Rs. 1,200 in cash and accepting a new bill for the balance plus interest at 12% p.a. for 3 months.
(c) Honagekar's acceptance to Avadhoot Rs. 6,000 retired one month before its due date at a discount of 20% p.a.
(d) Bank informs to Avadhoot that the dishonour of Shashikala's acceptance for Rs. 4,000 discounted with the bank. Noting charges amounted to Rs. 70.
(e) Avadhoot sent a bill of Pravin for Rs. 6,000 to the bank for collection.
Concept: undefined >> undefined
The Balance sheet of samarth traders is as follows. The partners share profits and losses as 5 : 2 : 3.
| Balance sheet as on 31st March, 2016 | ||||
| Liabilities | Amount (₹) | Assets | Amount (₹) | Amount (₹) |
| Capital A/cs | Plant and machinery | 16,000 | ||
| Prakash | 18,000 | Building | 20,000 | |
| Dinakar | 16,000 | Stock | 10,200 | |
| Rajan | 8,800 | Debtors | 8,400 | 8,000 |
| Creditors | 10,600 | Less: R.D.D | 400 | |
| General reserve | 7,000 | Cash in hand | 6,200 | |
| 60,400 | 60,400 | |||
Dinankar retired from the business on 1st April, 2016 on the following terms:
- The assets are revalued as under:
- Stock at ₹ 14000.
- Building is appreciated by 10%.
- Reserve for doubtful debts is to be increased upto ₹ 500.
- Plant and machinery is to be depreciated by 10%.
- The goodwill of the retiring partner is valued at Rs 4,000 and the remaining partners decided that goodwill be written back in their new profit sharing ratio which will be 5 : 3.
- Dinankar is to be paid Rs 2220 in cash on his retirement and the balance is to be transferred to his loan account.
Prepare:
- Profit and loss Adjustment account
- Capital Account of partners
- Balance sheet of new firm
Concept: undefined >> undefined
On 7th March 2016 Ram drwas a bill on Rohit for Rs 8000 at 3 months. rohit accepts it and returns to Ram. Ram then sends the bill to his bank for collection.
On due date Rohit finds himself unable to make the payment of the bill and requests Ram to renew it. Ram Agreed on the condition that Rohit should pay Rs 5000 in cash and should accept new bill for the balance at 2months with interest Rs 200. These Arrangements were carried through.
Before due date Rohit was declared as involvent and Rs 1500 colud be recovered form his private estate as first and final divident.
Give Journal Entries in the books of Ram.
Concept: undefined >> undefined
Journalise the following transactions in the books of Jaydeep.
(A) Arvind renews his acceptance of Jaydeep of Rs. 7,000 with interest Rs. 500 for two months.
(B) Bank informed Jaydeep that Mahadev’s acceptance of Rs. 4,000 which was discounted and dishonoured. Bank charged noting charges Rs. 80.
(C) Hanumant informed Jaydeep that Kazi’s acceptance for Rs. 7,000 endorsed to Hanumant has been dishonoured, noting charges Rs. 85.
(D) Datta honoured his acceptance of Rs. 4,900, which was sent to bank for collection. Bank debited Rs. 100 for bank charges.
(E) Radhika retired her acceptance to Jaydeep of Rs. 9,000 by paying Rs. 8,700.
Concept: undefined >> undefined
Statements that are incorrect in relation to index numbers:
- An index number is a geographical tool.
- Index numbers measure changes in air pressure.
- Index numbers measure relative changes in an economic variable.
- Index numbers are specialized averages.
Concept: undefined >> undefined
______ : Base year prices :: P1 : Current year prices.
Concept: undefined >> undefined
Complete the Correlation:
__________ : Single variable :: Composite index : Group of variables
Concept: undefined >> undefined
State with reason whether you agree or disagree with the following statement:
Index numbers measure changes in the price level only.
Concept: undefined >> undefined
State with reasons whether you agree or disagree with the following statement:
Index numbers can be constructed without the base year.
Concept: undefined >> undefined
Explain the features of index numbers.
Concept: undefined >> undefined
Optional functions of government:
- Protection from external attack
- Provision of education and health services
- Provision of social security measures
- Collection of tax
Concept: undefined >> undefined
Obligatory functions of the Government include:
- Provision of employment
- Maintaining internal law and order
- Welfare measures
- Exporting goods and services
Concept: undefined >> undefined
"Definition - Public finance is one of those subjects which are on the borderline between economics and politics." given by:
- Adam Smith
- Alfred Marshall
- Prof. Hugh Dalton
- Prof. Findlay Shirras
Concept: undefined >> undefined
Distinguish between the following concepts:
Public Finance and Private Finance
Concept: undefined >> undefined
State with reason whether you agree or disagree with the following statement:
The obligatory function is the only function of the Government.
Concept: undefined >> undefined
State with reason whether you agree or disagree with the following statement:
Public finance is more elastic than private finance.
Concept: undefined >> undefined
Read the given passage and answer the questions:
|
The conventional notion of social security is that the government would make periodic payments to look after people in their old age, ill health, disability, and poverty. This idea should itself change from writing a cheque for the beneficiary to institutional arrangements to take care of beneficiaries, including by enabling them to look after themselves, to a large extent. The write-a-cheque model of social security is a legacy from the rich world at the optimal phase of its demographic transition when the working population was numeral enough and earning enough to generate the taxes to pay for the care of those not working. This model is ill-suited for less, well-off India with growing life expectancy, increasing urbanization, and resultant migration. Social security under urbanization will be different from social security in a static society. |
- State the conventional notion of social security.
- What kind of conceptual change is suggested in the given paragraph?
- What is the legacy of social security from the rich world?
- Which features of India make the traditional model of social security ill-suited for the economy?
Concept: undefined >> undefined
