Company Accounts and Analysis of Financial Statements - NCERT Solutions - GeniusJnr
Company Accounts and Analysis of Financial Statements - NCERT Solutions : MCQ, free quiz, mock quiz, practise questions, olympiad preparation
Which of the following violate the principles of equality and why?
(a) Every child in class will read the text of the play by turn.
(b) The Government of Canada encouraged white Europeans to migrate to Canada from the end of the Second World War till 1960.
(c) There is a separate railway reservation counter for the senior citizens.
(d) Access to some forest areas is reserved for certain tribal communities.
How does Rawls use the idea of a veil of ignorance to argue that fair and just distribution can be defended on rational grounds?
Which of the following do you feel are compatible with the idea of secularism? Give reasons.
(a) Absence of domination of one religious group by another.
(b) Recognition of a state religion.
(c) Equal state support to all religions.
(d) Mandatory prayers in schools.
(e) Allowing separate educational institutions for any minority community.
(f) Appointment of temple management bodies by the government.
(g) Intervention of state to ensure entry of Dalits in temples.
Prepare a double column cash book with the help of following information for December 2016:
|
|
|
Rs |
|
01 |
Started business with cash |
1,20,000 |
|
03 |
Cash paid into bank |
50,000 |
|
05 |
Purchased goods from Sushmita |
20,000 |
|
06 |
Sold goods to Dinker and received a cheque |
20,000 |
|
10 |
Paid to Sushmita cash |
20,000 |
|
14 |
Cheque received on December 06, 2010 deposited into bank |
|
|
18 |
Sold goods to Rani |
12,000 |
|
20 |
Cartage paid in cash |
500 |
|
22 |
Received cash from Rani |
12,000 |
|
27 |
Commission received |
5,000 |
|
30 |
Drew cash for personal use |
2,000 |
M/s Ruchi trader started their cash book with the following balances on July 2017: cash in hand Rs 1,354 and balance in bank current account Rs 7,560. He had the following transaction in the month of July, 2017:
|
|
|
Rs |
|
03 |
Cash sales |
2,300 |
|
05 |
Purchased goods, paid by cheque |
6,000 |
|
08 |
Cash sales |
10,000 |
|
12 |
Paid trade expenses |
700 |
|
15 |
Sales goods, received cheque (deposited same day) |
20,000 |
|
18 |
Purchased motor car paid by cheque |
15,000 |
|
20 |
Cheque received from Manisha (deposited same day) |
10,000 |
|
22 |
Cash Sales |
7,000 |
|
25 |
Manisha’s cheque returned dishonoured |
|
|
28 |
Paid Rent |
2,000 |
|
29 |
Paid telephone expenses by cheque |
500 |
|
31 |
Cash withdrawn for personal use |
2,000 |
Prepare bank column cash book
On Ist January 2017, Rakesh had an overdraft of Rs 8,000 as showed by his cash book. Cheques amounting to Rs 2,000 had been paid in by him but were not collected by the bank by January 01, 2017. He issued cheques of Rs 800 which were not presented to the bank for payment up to that day. There was a debit in his passbook of Rs 60 for interest and Rs 100 for bank charges. Prepare bank reconciliation statement for comparing both the balance.
Overdraft shown by the passbook of Mr. Murli is Rs 20,000. Prepare bank reconciliation statement on dated December 31, 2017.
|
(i) |
Bank charges debited as per passbook Rs 500. |
|
(ii) |
Cheques recorded in the cash book but not sent to the bank for collection Rs 2,500. |
|
(iii) |
Received a payment directly from customer Rs 4,600. |
|
(iv) |
Cheque issued but not presented for payment Rs 6,980. |
|
(v) |
Interest credited by the bank Rs 100. |
|
(vi) |
LIC paid by bank Rs 2,500. |
|
(vii) |
Cheques deposited with the bank but not collected Rs 3,500. |
What is meant by a ‘Common Size Statement’?
Prepare a Comparative Income Statements from the following information.
|
Particulars |
2009 Rs |
2010 Rs |
|
Sales |
10,00,000 |
12,50,000 |
|
Cost of goods sold |
5,00,000 |
6,50,000 |
|
Carriage inwards |
30,000 |
50,000 |
|
Operating expenses |
50,000 |
60,000 |
|
Income tax |
50% |
50% |
What is meant by a ‘Common Size Statement’?
State the interest of tax authorities in the analysis of financial statements.
Prepare a Comparative Income Statement from the following information:
|
Particulars |
31.3.2009 Rs |
31.3.2010 Rs |
|
Sales |
40,000 |
50,000 |
|
Cost of goods sold |
30,000 |
35,000 |
|
Wages paid |
16,000 |
14,000 |
|
Operating Expenses |
2,500 |
3,000 |
|
Other Incomes |
2,000 |
3,000 |
|
Income tax |
4,750 |
7,500 |