#230,000
#280,000
#500,000
#550,000
Correct answer is A
46k x 500,000 = 23,000,000 k
23000000 / 100 = 230,000
Which of the following is the capital reserve of a company?
Share premium
Retained profit
Accumulated depreciation
Loss on forfeited shares
Correct answer is A
A capital reserve is an account in the equity section of the balance sheet that can be used for contingencies or to offset capital losses. It is derived from the accumulated capital surplus of a company, created out of capital profit.
Capital Reserve is a type of profit that is earned on capital transactions - an example would be the profit arising from the forfeiture of shares, share premium, Capital Redemption Reserve or Debenture Redemption Reserve.
The objective of departmental account is to
Ascertain the cost of running the organization
Ascertain the amount of profit or loss for each department
Ascertain the amount of profits for losses for the enterprises
Offset the loss of each treatment
Correct answer is B
To check out an interdepartmental performance.
To evaluate the performance of the department with the previous period result.
The gross profit of each department can ascertain.
Unprofitable departments will reveal.
#52,000
#68,300
#68,800
#69,300
Correct answer is C
opening stock 800
purchase 100,000
100,800
less; closing stock 1500 99,300
Salaries 30,000
Rates(1:2 of 1500= 1/3x1500) 500 30500
68,800
#23,500
#60,500
#60,700
#82,500
Correct answer is B
Sales - Cost of Goods Sold = Gross Profit.
Cost of goods sold = opening stock + purchases - closing stock
COGS= 2500 + 120000 - 3000 = 119,500
180,000 - 119,500 = 60,500