Question 1 :
A statement similar to balance sheet is nothing but the _________.<br/>
Question 2 :
__________system is usually adopted by traders who have less knowledge of Accounting.<br/>
Question 4 :
Which of the following are prepared by the organisations keeping only incomplete accounting records?<br>I. Cash book<br>II. Customer's Accounts<br>III. Expenses Accounts<br>IV. Day Books<br>Choose the correct answer using the codes given.<br>
Question 5 :
Find the total at assets at the end of the year if the net profit, drawing during the year and assets at the beginning of the year were 12,000, 7,000 and 15,000 respectively.
Question 6 :
If closing capital is Rs.30000 and profit is Rs.5000; opening capital was Rs. ____________.<br/>
Question 7 :
Cost of goods sold is Rs$1,20,000$ Gross Profit : $1/4th$ on sales what is the amount of sales.
Question 8 :
Calculate : Sales<b><br/></b>Opening Debtors Rs.5000<br/><b></b>Opening Bills Receivable Rs.2000<br/>Cash received from Debtors (including cash from bills receivable) Rs.10000<br/>Closing bills receivable Rs.1000<br/>Closing debtors Rs.8000<br/>
Question 9 :
To ascertain the profit, closing capital is to be adjusted by deducting ________ and adding _________.<br/>
Question 10 :
Cost of goods sold is Rs$1,20,000$ Gross Loss : $1/4th$ on sales what is the amount of sales?
Question 11 :
Calculate Bills Drawn and Accepted if :<br/>Bills receivable drawn in customers opening balance of bills Rs.7000<br/>Bills received endorsed to creditors Rs.1000<br/>Bill dishonored by customers Rs.2000<br/>Bills collected Rs.13000<br/>Closing Balance of Bills Receivable Rs 5000<br/>
Question 12 :
Which preparing accounts from incomplete records, the amount of credit sales is determined by?
Question 13 :
Total sales during the year amounted to Rs.170000, cash sales Rs.10000, outstanding debtors at the end of the year Rs.25000. Cash received from debtors will be Rs.____________.<br/>
