Which account is debited when expenses are paid on the installation of the Machinery?
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i. A loan account is a personal account. ii. A goodwill account is a real account. iii. A discount account is a nominal account.
i. This statement is True. The loan is taken from a person or bank and they are persons either natural or person or artificial persons. ii. This statement is True. All properties/assets come under real...
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Which account is debited, when rent is paid by Debit card?
The rent account is debited when rent is paid by debit card.
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Calculate the Materials Consurned Ratio, Employees Benefit Expenses Ratio, Admninistrative Expenses Ratio, Selling and Distribution Expenses Ratio and
[Meterials Consumed Ratio = 50 % , Employees Benefit Expenses Ratio= 15.63 % Administration Expenses Ratio= 14.25 % , Selling and Distribution Expenses Ratio =3.25 %,Other Expenses Ratio = 10...
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Which of the following will be debited on the Capital Account of India's Balance of Payments Account?
A. an Indian woman buying a Chinese company
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Wages paid for the installation of Machinery are debited to Wages A/c.
This statement is False. Wages paid on the installation of machinery are debited to the machinery account as they are the capital nature of expenditures.
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i. Depreciation is charged on _________ asset. ii. Wages paid for Installation/fixation of Machinery is debited to ______ account.
i. Fixed ii. Machinery iii. Diminishing Balance iv. Scrap value v. Depreciation vi. Constant vii. Capital viii. Scrap value ix. Nominal x. Depretium
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i. Expenses are paid before it is due. ii. Income due but not yet received. iii. Carriage paid on the sale of goods.
i. Prepaid Expenses ii. Accrued Income iii. Carriage Outwards iv. Balance Sheet v. Profit and Loss A/c
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All direct expenses are debited to the Profit and Loss Account.
All direct expenses are debited to Trading Account.
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The machinery of ₹ 35,500 is purchased on 1st July 2018 and on the same day ₹ 4,500 are spent on the installation of the Machinery.
Cost of Machinery = Purchase Price + Installation Charges = 35,500 + 4,500 = ₹ 40,000 Depreciation for 9 months = 40,000 × \(\frac{7}{100}\times\frac{9}{12}\) = ₹ 2,100
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Which among the following are final and which are intermediate products? (i) A machine purchased for installation in a factory (ii) Fees paid to the l
(i) A machine purchased for installation in a factory is a final product because expenditure on machine is investment expenditure. (ii) Fees paid to the lawyer by a producer is...
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