Part of Profit transferred to General Reserve will be shown on the debit side of _________

Related MCQs

• Among the following items which item is shown on the debit side of Adjusted Profit and Loss Account?
• Non-cash adjustments like Depreciation, Preliminary Expenses and Goodwill Written off are shown on the debit side of which account?
• When a part of the Fixed Assets is sold during the year, the Profit on sale is shown on the credit side of which Account?
• Loss on sale of Fixed Assets / Investment will be shown on the credit side of adjusted profit and loss account.
• The proposed dividend for the Current Year would appear on the debit side of which account?
• Only Current Assets and Current Liabilities are shown in the statement showing
• Last year’s proposed dividend has been paid during the current year and hence will be shown as________
• For Ram Industries, the balance of property has beenRs 20,000 and Rs 17,000 in 2018 and 2019 respectively. The profit on sale of property of Rs 2000 is credited to Capital Reserves Account. New property costing Rs 5000 bought in 2019. Determine sale proceeds forproperty.
• For Meghal Industries Ltd. opening balance for Provision for Taxation is Rs. 18,000 and closing balance is Rs. 15,000. During the year Taxed paid wereRs. 10,000. What is the current year’s Provision for Taxation made from the profit?
• The balances of Provision for Taxation were Rs. 20000 and Rs. 15000 in 2019 and 2020 respectively, if in the current year taxed paid were Rs. 10000 then what will be the current year provision for tax made from profit?