Illustrate the exceptions to the creation of debenture, Ask an Expert

Accounting

problem 1: Name the account that illustrates the classified summary of the transactions of a Cash Book in a not-for-profit organization.

problem 2: List two items which might appear on the Credit side of the partner’s fixed capital account?

problem 3: Illustrate two circumstances in which the sacrificing ratio might be applied.

problem 4: Name any two factors influencing goodwill of a partnership firm.

problem 5: describe the nature of Interest on the Debentures?

problem 6: On the basis of the given information, compute the amount of stationery to be shown in Income and Expenditure Account for the year ended 31st March, 2007.

2369_income and expenditure account.jpg

problem 7: Illustrate the exceptions to the creation of Debenture Redemption Reserve as per SEBI Guidelines.

problem 8: X, Y and Z are the partners sharing profits and losses in the ratio of 3:2:1. After final accounts have been made, it was discovered that interest on drawings @ 5% p.a. had not been taken into consideration. The drawings of Partners were: X Rs. 15,000; Y Rs.12,600; Z Rs. 12,000. Give the essential adjusting journal entry.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M97762

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