Recent questions and answers in Accountancy

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Mayfair Ltd. forfeited 2,000 shares of Rs.10 each, Rs.7 called up, on which only Rs. 4 per share

answered Oct 25 in Accountancy by Expert (39.5k points)

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David and Garry are partners in a firm with capitals of Rs. 90,000 and Rs. 80,000 respectively.

answered Oct 25 in Accountancy by Expert (39.5k points)

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Edward and Hayward are partners. Edward draws a fixed amount at the beginning of every quarter.

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Ayan, Azan and Aqib are partners carrying on furniture business. Ayan withdrew Rs. 5,000 at the end of each month.

answered Oct 25 in Accountancy by Expert (39.5k points)

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At the time of dissolution, Harry, a creditor of the firm agreed to take over the furniture of the book value

answered Oct 25 in Accountancy by Expert (39.5k points)

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Operating Cycle is the time between the acquisition of assets for processing and their realisation into

answered Oct 24 in Accountancy by Expert (39.5k points)

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Interest Accrued but not Due on Debentures will be shown under the heading

answered Oct 24 in Accountancy by Expert (39.5k points)

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Vibgyor Ltd. has current assets worth Rs. 3,50,000 and it needs to pay off its obligations worth Rs.2,00,000.

answered Oct 24 in Accountancy by Expert (39.5k points)

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Statement I: Increase in provision for doubtful debts should be added back for calculating cash from operations.

answered Oct 24 in Accountancy by Expert (39.5k points)

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Decrease in Bank Overdraft is shown under which heading in a Cash Flow Statement?

answered Oct 24 in Accountancy by Expert (39.5k points)

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Prayas Ltd. made a profit of Rs. 1,75,000 after considering the following items: (i) Goodwill written off Rs. 6,000

answered Oct 24 in Accountancy by Expert (39.5k points)

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Accounting Standard-26 requires that goodwill is to be recorded in the books of accounts only when money

answered Oct 23 in Accountancy by Expert (39.5k points)

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According to Sec 50 of the Companies Act 2013, the amount of Calls in Advance can be accepted by the Company

answered Oct 23 in Accountancy by Expert (39.5k points)

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Tulip Ltd. took up a loan from a Punjab National Bank and issued its’ Debentures as Collateral Security.

answered Oct 23 in Accountancy by Expert (39.5k points)

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Sam, Tom and Jerry were partners sharing profits and losses equally. Sam sold a land costing Rs.5,00,000 belonging

answered Oct 23 in Accountancy by Expert (39.5k points)

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Mike and Ken were two partners sharing profits and losses in the ratio 4:3. Ken was in need of funds so he took a loan

answered Oct 23 in Accountancy by Expert (39.5k points)

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