Accounting - Study Mode
[#411] If, Capital at the end = Rs. 7,000 Capital introduced = Rs. 5,000 Drawings = Rs. 8,000 Loss = Rs. 10,000 Then capital in the beginning is equal to:
Correct Answer
(C) Rs. 20,000
[#412] The accumulated losses and fictitious assets of the transferor company are transferred to . . . . . . . . a/c.
Correct Answer
(A) equity share holders
[#413] At the time of retirement of a partner profit on revaluation of assets and liabilities is credited to
Correct Answer
(B) Capital Accounts of all partners in their old profit sharing ratio
[#414] Premium received on the issue of shares is shown in:
Correct Answer
(D) Liabilities side of the Balance Sheet
[#415] Which one of the following statements is incorrect?
Correct Answer
(C) Discount on issue of shares is shown as a reduction from capital