Under fixed capital methods, profit will be credited to:

Related MCQs

• When shares are forfeited, the share capital account is debited with ________ and the share forfeiture account is credited with __________.
• HO sends goods to branch at 20% profit on invoice price, therefore the percentage of profit on cost comes to ______
• The stock reserve for unrealised profit will be ________ to the H.O profit & Loss A/C
• Old profit sharing ratio minus new profit sharing ration is equal to:
• Fixed assets are double the current assets and half the capital. The current assets are Rs.3,00,000 and investments are Rs.4,00,000. Then the current liabilities recorded in balance sheet will be
• All revenue incomes are credited to
• Value of goods withdrawn by the proprietor for his personal use should be credited to ____
• Goods are sent to branch at cost plus 20%. If closing stock of the branch is Rs 60,000 at invoice price, Rs ______ will be credited to stock reserve a/c.
• Goods sent by HO but not received by branch before the end of the year, by debiting it to goods in transit, which account should be credited?
• In case of retirement of a partner full good will is credited to the accounts of: