Accounting - Study Mode
[#1961] If a share of Rs. 10 each on which Rs. 8 has been called and Rs. 6 is paid is forfeited then, the share capital account should be debited with
Correct Answer
(B) Rs. 8
[#1962] Balance of share forfeiture after re-issue of forfeited share is transferred to which account?
Correct Answer
(C) is transferred to capital reserve
[#1963] When goodwill is brought by the incoming partner in the form of cash. The goodwill amount is credited to the old partners in:
Correct Answer
(C) Sacrificing ratio
[#1964] Charulata is a partner in a firm. She withdrew Rs. 10,000 in each quarter during the year ending on 31 st March 2019. The interest on her drawings @ 9%per annum will be
Correct Answer
(D) Rs. 1,800
[#1965] Income received in advance is a
Correct Answer
(C) A liability