Loose tools are shown in the balance sheet under

Related MCQs

• loose tools are shown in the B/S under the head.
• While checking the accounts of ABC the following discrepancies were noticed, even though the Trial Balance was made to balance by putting the difference to Suspense A/c. (i) Sales day book for the month of June‘12 was found overcast by ` 7,000. (ii) A credit purchase of ` 3,000 was omitted to be recorded in the days book. (iii) ` 4,300. Received from A credited to A A/c ` 3,400. (iv) Purchase of Office Equipment worth ` 5,000 included in trading purchases. From the above details what would have been the difference in Trial Balance which was made to balance by opening Suspense A/c.
• Which of the following statements is/are true? (i) An error in casting the subsidiary books is an error of commission (ii) An error in wrong casting of the sales day book will not affect the personal accounts of debtors (iii) Mistake in transferring the balance of an account to the Trial Balance will not affect the agreement of the Trial Balance (iv) The mistake of treating a liability as an income or vice versa will not affect the agreement of a Trial Balance
• In the balance sheet of a company, debentures are shown under which heading
• In the balance sheet of a company , the discount on issue of debentures is shown under which heading
• Debentures are shown in the balance sheet under head
• In a bank balance sheet, unclaimed dividend will be shown under the head
• The security premium account is shown in the balance sheet under the head……….
• Debentures are shown in the balance sheet under the head ………..
• Unclaimed dividend is shown in the balance sheet under the head ……..