A, B, and C are partners with total profit ₹3,00,000. No ratio is mentioned and C manages business without capital. What is each partner’s share?

Net profit ₹1,59,600, manager’s commission 5% after charging commission. Net profit transferred to Profit and Loss Appropriation Account will be:

Which of the following are NOT items of Profit and Loss Appropriation Account?

Journal entry for transfer to Reserve out of profit is:

Which account is prepared to show the opening and closing balances of cash and bank?

Income & Expenditure Account is similar to which type of account in business organizations?

Outstanding expenses are shown in:

Donation received for building fund is treated as:

In Income & Expenditure Account, income is recognized on:

Membership fees relating to current year but received next year is:

When are debentures said to be issued at par?

How is the premium on the issue of debentures treated in accounting?

What happens in the case of over-subscription of debentures?

What entry is made on the receipt of call money for debentures?

How is a capital loss due to the issue of debentures at a discount typically written off?

Ravi Ltd. issued 6,000 Debentures of ₹100 each at a premium of ₹10. It will credit Debentures Account by:

Debentures issued with following journal entry: Bank A/c Dr ₹4,75,000, Loss on Issue of Debenture A/c Dr ₹75,000, To 12% Debentures A/c ₹5,00,000, To Premium on Redemption of Debenture A/c ₹50,000. Debenture issued at a discount of:

Assertion (A): Premium on issue of debentures is a capital gain. Reason (R): Loss on issue of debentures is a revenue loss.

A company issued debentures of ₹1,00,000 at par but redeemable at 5% premium. Amount debited to Loss on Issue of Debentures A/c is: