Opening statement of affairs is prepared to find out

Related MCQs

• To find out the opening and closing capitals statement of affairs are prepared
• If Building (closing) Rs.100,000, Land (opening) Rs. 100,000, Creditors (opening) Rs.10,000 then opening capital:
• Opening Stock ` 15,000, Closing Stock ` 6,000, Total Purchase during the year ` 30,000. Given that Opening Stock inadvertently includes postage stamps of ` 1,500. Find the cost of goods sold
• Statement of affairs is prepared for ascertaining:
• Statement of Affairs is a statement of
• Opening an account in a computerized accounting system is entirely different from opening an account in a manual system.
• To find out credit sales which account should be prepared
• Which account is prepared to find out the amount of closing stock
• Memorandum Joint Venture Account is prepared to find out
• Secured creditors are shown in the statement of affairs under :