A debit note issued to a creditor for goods returned is to be recorded in the

Related MCQs

• It goods worth 1,750 returned to suppler is wrongly entered in sales returned book as 1,570 then
• In case of debit balance , the words …………. are written on the debit side.
• If X co-venture takes away of goods under memorandum Joint Venture Method then he will debit these goods in his books to
• Goods worth 272 returned by Lala passed through the books as 722. In the rectification entry
• X of Delhi send out certain goods at cost + 25% of cost. Invoice value of goods is 1,20,000. 4/5th of the goods were sold by consignee at 1,00,000. Commission @ 2% up to invoice value and 10% of any surplus above invoice. The amount of commission will be
• A purchased goods costing 2,60,000 for joint venture with B. B sold a major part of the goods at cost plus 25% on cost, for 2,50,000. Balance of goods were taken over by B at cost less 10%. Find out profit/loss on Joint Venture.
• Select correct journal entry to rectify an error “An amount of 10,000, withdrawn by owner for personal use debited to Trade Expenses Account”. Debit Credit
• When preparing a bank reconciliation statement, if you start with debit balance as per cash book cheques sent to bank but not collected should be
• If two or more transactions of the same nature are journalize together having either the debit or credit account common is known as:
• Difference of totals of both debit and credit side of the trial balance is transferred to: