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Question doubts

Final 245 views 3 replies

Can someone please answer these questions:- 

1. The three columns on each side of a cash book represents:- 

(A). Real and personal accounts

(B). Real and nominal accounts

(C). Personal and nominal accounts

(D). Real, personal and nominal accounts

 

2. Error of principle will not permit:- 

(A) correct total of the balance sheet

(B) correct total of the trial balance

(C) trial balance to agree

3. if outstanding wages appear in the trial balance while preparing the final accounts it will be shown in?

4.fire insurance premium paid on 1st October 2011 for the year ended on 13th September 2012 was rupees 2400 and fire insurance premium paid on 1st October 2012 for the year ending on 30th September 2013 was 3200 rupees. Fire insurance premium paid as shown in the p&l account for the accounting year ended 31st December 2012 would be?

 

5 Z Limited forfeited 200 fully called up shares of rupees 10 each on which rupees 1300 has been received later on these shares were reissued as fully paid up @ rupees 9 per share the amount to be transferred from share forfeited account to Capital reserve account will be

Replies (3)

Answers:

1) B

2) B

3) Credit column

4) 2600

5) 1100

1) B
2) A
3) Balancesheet- liability side
4) 2600
5) 500
1 B Reason In three column cash book 3 columns are prepared i.e. discount - nominal account , cash account - real account. Also bank is a real account


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