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-1 section-8
A machine was purchased for Rs. 1,000 and its life was estimated to be 3 years and at the end of life its book value will be Rs. 512. If depreciation is calculated according to written down value method. The rate of depreciation would be:
Interest on investments received Rs. 500 which includes Rs. 100 in respect of interest accrued in the preceding year.
What amount will be posted in the Income and expenditure Account:
X Ltd. forfeited 20 shares of Rs. 10 each (Rs. 8 called up) on which John had paid application and allotment money of Rs. 5 per share. Of these, 15 shares were reissued to Parker as fully paid up for Rs. 6 per share. What is the balance in the share forfeiture account after the relevant amount is transferred to the capital reserve account?
