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On 31<sup>st</sup> March, 2019, total debtors are Rs. 25,000 and bad debts are Rs. 1,000 so if rate of discount on debtors is 2% and rate of provision for bad debts is 5% then the amount of discount on debtors will be
A
Rs. 456
B
Rs. 475
C
Rs. 480
D
Rs. 500
Correct Answer:
Rs. 456
The debtors are Rs. 30,000 (before bad debts of Rs. 1,000 and provision of bad debts at 5%). A provision for discount on debtors @ 2% would be-
A
Rs. 600
B
Rs. 575
C
Rs. 571
D
Rs. 551
With the help of following information calculate provisions for bad and doubtful debts
Debtors M: Rs. 3,200 Bad to be written off
Debtors N: Rs. 8,000 expeected to realise only 70%
Debtors O: Rs. 6,000 expected to realise only 60%
Debtors P: Rs. 4,000 financial condition very poor, no recovery is likely
A
Rs. 8,800
B
Rs. 12,000
C
Rs. 4,800
D
Rs. 4,000
A invested 50000 in a company on 1st of April 2019. B invested 25000 on 1st of April 2019 and 25000 on 1st of October 2019. If on 31st March 2020 the profit was 25200 rupees, find the share of b.
A
10800 rupees
B
12600 rupees
C
11200 rupees
D
10220 rupees
A company has trade debtors at the year-end amounting to Ta. 2,18,000. One of the debtors, value TA. 8,000 is known to be uncontrollable. The company takes a 5% provision for bad debts each year and last year's provision amounted to TA. 2,000 which of the following figures will appear in the profit and loss account as the total bad debt charge for the year?
A
TA. 18,900
B
TA. 18,500
C
TA.16,300
D
TA. 10,500
A company has trade debtors at the year-end amounting to TA. 2,18,000. One of the debtors, value TA. 8,000 is known to be noncollectable, The company takes a 5% provision for bad debts each year and last year's provision amounted to TA. 2,000. Which of the following figures will appear in the profit and loss account as the total bad debt charge for the years?
A
TA. 18,900
B
TA. 18,500
C
TA. 16,300
D
TA, 10,500
In an organization, provision for Bad debts is Rs. 5,000 in the beginning. At the end total sales is Rs. 6,00,000 out of which Rs. 1,00,000 is cash sales. 1% provision is to be created on remaining debtors. The amount to be debited to profit and loss account in respect of provision is.
A
Rs. 6,000
B
Rs. 5,000
C
Rs. 1,000
D
Zero
Consider the following statements about the Salt March :1.The Salt March was deliberately ignored by the European media.2.The Salt March was widely covered by the American and European press.3.The Salt March was the first nationalist activity in which women participated in large numbers.4.The Salt March impressed upon the British the urgent need to devolve more power to Indians.Which of the statements given above are correct?
A
1, 2 and 4
B
2, 3 and 4
C
3 and 4 only
D
2 and 3 only
Determine the debtors turnover ratio if, closing debtors is Rs. 40,000, cash sale is 25% of credit sales, and excess of closing debtors over opening debtors is Rs. 20,000.
A
4 times
B
2 times
C
6 times
D
8 times
Net credit sales of business was Rs. 1,75,000. Debtors Turnover ratio is 8 times. Closing debtors were in excess of opening debtors by Rs. 7,000. Opening debtors will be
A
Rs. 18,375
B
Rs. 21,875
C
Rs. 25,375
D
None of the above
Making the provision for bad and doubtful debts in anticipation of actual bad debts is on the basis of:
A
Convention of disclosure
B
Convention of consistency
C
Convention of conservatism
D
Convention of disclosure and consistency