Which account will be debited when Mr. Shyam has paid cash to you?
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Receipts and payments Account is a - (A) Personal Account (B) Real Account (C) Nominal Account
Correct option is: (B) Real Account
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Current Account is - (A) Personal Account (B) Real Account (C) Nominal Account (D) None of these
Correct option is: (A) Personal Account
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25) Following errors were detected from the books of accounts of Amar. Give journal entries to rectify them. 1) Rs 5000 paid for wages for erecting the plant were entered in the wages \( A / c \) 2) Paid Rs 2000 as salaries to Ramu but an amount was debited to his personal \( A / c \). 3) Rs 6000 received from a customer namely Dinesh is credited to Capital \( A / c \)
Journal Entries:- 1) Wages A/c Dr.5000 To Plant A/c 5000 2) Suspense A/c Dr.4000 ...
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A holds 100 shares of Rs. 10 each on which he has paid Rs. 1 per share on application . B holds 200 shares of Rs. 10 each on which he had paid Rs. 1 a
Correct Answer - Capital Reserve-Rs. 2,500.
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When goods are sold for cash, the personal a/c of the buyer is debited.
This statement is False. In a cash transaction, there is no Personal A/c. The personal account comes in a credit transaction. So when goods are sold for cash, the cash account...
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Wages paid for installation of machinery is debited to __________ account.
Correct option is (d) Machinery
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Wages paid for the installation of machinery wrongly debited to wages account is an error of ________
Correct option is (b) principle
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The paid-up capital of a company is Rs.50,000. If the company has shares of face of Rs.25 in which Rs.20 is paid-up, then how many shares does it have
Correct Answer - Rs.62,500
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A company has 500 shares of face value Rs.50 in which Rs.30 is paid-up. The company collects Rs.12,000 as the second instalment. What is the paid-up v
Correct Answer - Rs.54
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The balance of cash at bank as shown by the Cash Book of Pan & Pan Co. on 31st December,m 2016, was ₹7,500. On checking the entries in the Cash Book w
Correct Answer - Cr. Balance as per Pass Book ₹9,015.
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