A. Sundry Debtors
B. Stock
C. Prepaid insurance
D. All of A. B. and C. above
A. Scrap value
B. Residual value
C. Market value
D. Depreciable value
A. 30th June,2018
B. 1st July,2018
C. 4th July,2018
D. 4th August,2018
Bill drawn on 1st April, 2018 payable after 3 months. The due date is 1st April, 2018 + 3
months + 3 days of grace = 4th July, 2018
A. Replacement cost
B. Current cost
C. Cost to acquire less accumulated amortization
D. Cost less expired portion
Prepaid expenses are the expenses which relate to the unexpired portion of the benefit
of the expense. Hence, these are valued on the Balance Sheet at the cost less expired portion
A. Simple cash book
B. Two column cash book
C. Three column cash book
D. Petty cash book
Debit side of Bank Pass book corresponds to___________?
A. Credit side of Cash Book
B. Debit side of Cash Book
C. Debit side of Trial Balance
D. Credit side of Balance Sheet
A. Cheque issued but not presented
B. Cheque issued but dishonoured
C. Cheque deposited and credited by bank
D. Both A. and B.
Differences in Bank Balance as per Bank Pass Book and Cash Book arise due to many reasons. Few of them are Cheques issued (a credit entry in Cash Book made) but not presented for payment (so no corresponding entry in Pass Book).
Cheques issued (a credit entry in Cash Book made) but dishonoured (so no corresponding entry made in Pass Book).
In case of cheques deposited and credited by bank, entries in both Cash Book and the Bank Pass book are made, hence no difference arises. Hence option D. is the right option. Only in situations A. and B. result in difference