Recent questions in Accountancy

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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

asked Oct 25, 2023 in Accountancy by Komal (2.5k points)

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1 answer 372 views

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

asked Oct 25, 2023 in Accountancy by Komal (2.5k points)

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1 answer 154 views

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

asked Oct 25, 2023 in Accountancy by Komal (2.5k points)

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

asked Oct 25, 2023 in Accountancy by Komal (2.5k points)

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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

asked Oct 25, 2023 in Accountancy by Komal (2.5k 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

asked Oct 24, 2023 in Accountancy by Komal (2.5k points)

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

asked Oct 24, 2023 in Accountancy by Komal (2.5k points)

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1 answer 174 views

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

asked Oct 24, 2023 in Accountancy by Komal (2.5k points)

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1 answer 369 views

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

asked Oct 24, 2023 in Accountancy by Komal (2.5k points)

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1 answer 150 views

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

asked Oct 24, 2023 in Accountancy by Komal (2.5k points)

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1 answer 122 views

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

asked Oct 24, 2023 in Accountancy by Komal (2.5k points)

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1 answer 243 views

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

asked Oct 23, 2023 in Accountancy by Komal (2.5k points)

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1 answer 187 views

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

asked Oct 23, 2023 in Accountancy by Komal (2.5k points)

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1 answer 208 views

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

asked Oct 23, 2023 in Accountancy by Komal (2.5k 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

asked Oct 23, 2023 in Accountancy by Komal (2.5k points)

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1 answer 161 views

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

asked Oct 23, 2023 in Accountancy by Komal (2.5k points)

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