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Q. X sends out certain goods to Y, costing 1,50,000 at cost plus 25% on invoice price. ¾ of the goods were sold by R at 1,76,000. Commission 5% upto invoice value a nd 10% of any surplus above invoice value. The amount of commission will be

Q. What is the nature of joint venture with co-venture account?

Q. Which of the following error is an error of principle?

Q. Y-draws a trade bill of 12,000 for 6 months on X. After holding the bill for 2.5 months, Y discount the bill with bank @ 10% p.a. The amount of discount on bill is

Q. The Depreciation Account is closed at the end of the year by transfer to the

Q. At the en d of the accounting year bills receivable discounted were 32,000 would be shown

Q. A purchased goods costing 2,60,000 for joint venture with B. B sold a major part of the goods at cost plus 25% on cost, for 2,50,000. Balance of goods were taken over by B at cost less 10%. Find out profit/loss on Joint Venture.

Q. At the time of dishonor of an endorsed bill, which account would be credited by the drawee?

Q. As regards the accounting treatment, Legacy should be

Q. When credit balance as per pass book is the starting point of a Bank Reconciliation Statement then bank charges are