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Q. X of Delhi send out certain goods at cost + 25% of cost. Invoice value of goods is 1,20,000. 4/5th of the goods were sold by consignee at 1,00,000. Commission @ 2% up to invoice value and 10% of any surplus above invoice. The amount of commission will be

Q. Whenever errors are noticed in the accounting records, they should be rectified.

Q. From the following details ascertain the adjusted bank balance as per Cash Book – overdraft as per Cash Book 1,60,000; cheque received entered twice in the Cash Book 10,000; credit side of bank column cash short by 1,000; bank charges amounting to 400 entered twice:

Q. Goods taken from business for personal use by the proprietor should be credited to

Q. A debit note issued to a creditor for goods returned is to be recorded in the

Q. There are 100 members each p aying an annual subscription of 500. The Receipt and Payment account shows arrear subscription of 4,500, advance subscriptions 6,000 and current 44,500. How much amount to be credited in the Income and Expenditure account?

Q. Which of the following will result in disagreement of Trial Balance?

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

Q. Capital expenditures are shown in the

Q. Trade discount is allowed at the time of sale of goods.