Bills payable honored during the year will be debited to ______

Related MCQs

• In case debentures of Rs. 10,000 are issued at par but payable at a premium of 10% the premium payable will be debited to:
• Bills payable dishonored during g the year will be credited to
• From the following details find out the amount to be debited to Profit and Loss A/c as fresh provision for doubtful debts during 2012-13 Debtors ` 30,000 as on 31.03.2013; Bad debt during the year ` 1,500; Provision for bad debts as on 01.04.2012 ` 2,000; Provision for doubtful debts to be kept at 5% of total debtors
• If the provision for income tax for 2013 is Rs.30,000 and for 2014 is Rs.40,000; and income tax of Rs.25,000 is paid during the year 2014 in respect of year 2013, the amount of to be debited to the Profit and Loss Adjustment Account as “Provision for Income Tax” to find out “Funds from Operation” will be
• Which of the following statements is true with regard to written down value method of depreciation? i. The rate at which the asset is written off reduces year after year ii. The amount of depreciation provided reduces from year to year iii. The rate of depreciation as well as the amount of depreciation reduce year after year iv. The value of the asset gets reduced to zero over a period of time
• Bills receivable as endorsed is debited to
• When Bills Receivable is returned dishonoured by the drawee, which of these A/c is debited by the drawee
• A company sends its cars to dealers on 'sale or return' basis. All such transactions ire however treated like actual sales and are passed through the sales day book. Just before the end of the financial year, two cars which had cost ` 55,000 each have been sent on sale or return and have been debited to customers at ` 75,000 each, cost of goods lying with the customers will be
• Subscription received during the year 50,000 Rs. Subscriptions outstanding at the end of the year 8,000 Rs. Subscription outstanding at the beginning of the year 6,000 Rs. Net Income from subscription will be :
• Due to retrospective effect on revision of salary of employees, the arrears of salary relating to past years, payable in current year is