The cash realized from the sale of asset on dissolution of partnership is
Debited to cash account and credit to asset account
Credited to cash account and debited to asset account
Debited to cash account and credited realisation account and credited to realisation account
Credited to cash account and debited to realisation account
Debited to realisation account abnd credited to asset account
Correct answer is C
No explanation has been provided for this answer.
Which of the following is a charge against profit?
Ordinary dividend
General reserve
Preference dividend
Debenture interest
Revenue reserve
Correct answer is A
No explanation has been provided for this answer.
Real and cash accounts
Capital and nominal accounts
Real and normal accounts
Investment and real accounts
Interest received and real account
Correct answer is C
No explanation has been provided for this answer.
Discount received is shown in the
Credit side of sales ledger balances
Debit side f bought ledger balances
Credit side of bought ledger balances
Debit side of sales ledger balances
Sales ledger balances as contra entry
Correct answer is B
No explanation has been provided for this answer.
Which of the following is not charged to Manufacturing Account?
Raw materials
Factory's wages
Distribution expenses
Royalties
Correct answer is C
No explanation has been provided for this answer.