If closing stock is given in Trial Balance, so it will be recorded ________________.
Only in Trading Account
Only in the Balance sheet
Trading Account and Balance sheet Both
Only in P & L Account
General Manager is to get a commission of @10% on Net Profit after charging such commission. If profit before Commission is Rs 33000, Amount of commission will be:
3000
3300
300
30000
General Manager is to get commission @20% on Net Profit before charging such commission. If profit before Commission is Rs 44000, the Amount of commission will be.
7300
700
8800
8300
Give the Treatment of Outstanding rent shown in the trial balance.
It will be shown in Trading Account
It will be shown in P& L Account
It will be shown in the Balance sheet on Assets Side
It will be shown in the Balance sheet on Liabilities Side
Give the Treatment of Outstanding Salaries given in Adjustments.
Should be Subtracted from Salaries on Cr. Side of P&L account and Shown in Assets
Should be Added in Salaries on Dr. Side of P&L account and Shown in Liabilities
Should be Added in Salaries on Cr. Side of the P&L account and Shown in Liabilities
Should be Subtracted from Salaries on Dr. Side of Trading account and Shown in Assets side
A trader’s Financial Year is from 1st April 2019 to 31st March 2020. He paid Rs 6000 for the annual insurance Policy expiring on 30th July 2020. Calculate the net amount that should be debited in P& L Account.
6000
4000
6500
600
Machinery Purchased on 1st July 2019 for Rs 400000. Depreciation is provided at 10 %. Calculate the amount of depreciation if accounts are closed on 31st March 2020.
40000
20000
10000
Calculate the amount of Debtors to be shown on the Assets side in the Balance sheet
53000
54000
55000
45000
The cost price of closing stock is Rs 10000 and Market Price is Rs 9500. At what price closing stock will be recorded in the books of Accounts?
500
9500
10,000
950
147500
147250
150000
152000
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