Accounting MCQ Questions and Solutions with Explanations | Commerce
Accounting MCQ Questions and answers with easy and logical explanations. Commerce provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. Accounting MCQ is important for exams like B.COM, M.COM, BBA, BBM, CA, CS, CMA, CPA, CFA, UPSC, NET, Banking and other commerce department exam. Page-8 section-27
A machinery having a residual value of Rs. 5,000 was purchased on 1st January 1998 for Rs. 1,00,000 and was depreciated @ 9.5% on a straight line method. On 1st January 1998, it was estimated that its useful life has been reduced to eight years. Under the changed circum-stances, the annual depreciation charges for the year 1991 and onwards will be:
Given, subscription received in 1990:
For the year 1989 - Rs. 500
For the year 1990 - Rs. 7,000
For the year 1991 - Rs. 400
1990 - subscription outstanding on 31st December 1990 : Rs. 250
The amount of subscription to be posted to income and expenditure account of 1990 is:
A company purchased the following assets and paid through 1,00,000 fully paid equity shares of Rs. 10 at a premium of Rs. 2:
Building = Rs. 5,00,000
Machinery = Rs. 4,00,000
Stock in trade = Rs. 1,00,000
In the context of funds flow statement, this transaction will result in:
