` 1,250 paid for the residential telephone bill of the proprietor which of these accounts will be detailed

Related MCQs

• M draw a 3 months bill of exchange of ` 20,000 on T on 1st April 07. On due date T paid ` 4,000 and requested M to draw another bill of exchange for 2 months. On the due date of second bill of exchange T is declared insolvement and a dividend of 25 paisa in a rupee is expedited to be realized from his assets. Find the amount receivable from T in respect of the outstanding bill of exchange
• _________ liabilities represent proprietor’s equity, i.e. all thoseamount which are entitled to the proprietor
• The premium paid on the life policy of the proprietor is debited to
• Income tax paid for the proprietor from the business is
• Income tax paid by a sole proprietor from his business income should be:
• According to which concept, proprietor of a business is treated as a creditors to the extent of his capital
• Withdrawals by proprietor would
• Goods taken by the proprietor for personal is shown as a deduction from_____________
• Value of goods withdrawn by the proprietor for his personal use should be credited to ____.
• Which of the following transactions of a business is/ are recorded in Journal Proper? (i) Purchase of goods on credit (ii) Sale of Office Furniture for cash (iii) Discounting of Bill of Exchange with a bank (iv) Endorsement of a Bill of Exchange in settlement of debt of the business