Accounting - Study Mode
[#2436] Which one of the following statement is incorrect?
Correct Answer
(C) Fully paid bonus shares are issued only out of capital reserves
[#2437] M/s Stationary Mart will debit the purchase of stationary to:
Correct Answer
(B) Purchases A/c
[#2438] What will be shareholder's funds. If equity share capital is Rs. 16,00,000, 8% preference share is Rs. 20,000, Reserve and surplus is Rs. 73,000, profit and loss is Rs. 41,000 (cr. balance), preliminiary expense is Rs. 20,000 and short-term creditors are Rs. 30,000.
Correct Answer
(B) Rs. 18,94,000
[#2439] X and Y are partners in the ratio of 3 : 2. Their capitals are Rs. 2,00,000 and Rs. 1,00,000 respectively. The interest on capitals is allowed @ 8% per annum. The firm earned a profit of Rs. 60,000 for the year ending on 31 st March 2019. The interest on capital will be
Correct Answer
(A) X - Rs. 16,000, Y - Rs. 8,000
[#2440] Total capital employed is equal to
Correct Answer
(B) Fixed Assets + Net Working Capital