Binayak Academy

Jun 2nd, 2015
Studypool Tutor
Louisiana State University - Shreveport
Price: $10 USD

Tutor description

a) If at the time of admission some profit and loss account balance appears in the books, it will be transferred to: i) Profit and loss adjustment account ii) All partners capital account iii) Old partners capital account iv) Revaluation Account b) A partner acts as __________ for a firm. i) Agent ii) Employee iii) Third party iv) None of these

Word Count: 2695
Showing Page: 1/8
Binayak Academy + 2 Commerce Full Marks: 100 Accounting Time: 3 Hrs.1. Answer the following. [ 1 x 15 = 15 ]a) If at the time of admission some profit and loss account balance appears in the books, it will be transferred to: i) Profit and loss adjustment account ii) All partners capital accountiii) Old partners capital account iv) Revaluation Accountb) A partner acts as __________ for a firm.i) Agent ii) Employee iii) Third party iv) None of thesec) Debenture premium cant be used toi) Write off the discount on issue of shares or debenturesii) Write off the premium on redemption of shares or debenturesiii) Pay dividend iv) write off capital lossd) Assets are depreciated on the basis of expected life rather than on the basis of market value according toi) Going concern concept ii) Cost Conceptiii) Entity concept iv) Matching concepte) Under capitalization basis goodwill is calculated by :i)

Review from student

Studypool Student
" Solid work, thanks. "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1830 tutors are online

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors