Fundamentals of Accounting MCQs

56. Question

A cheque of Rs.1000 drawn by X on savings bank account was entered in his current account in cash book. Cash book shows an OD balance of Rs.4,500 In current account. What is the balance as per passbook in current account?




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57. Question

The credit balance as per Pass Book of ‘x’ was Rs.65,000. Cheques issued but not paid Rs.75,800. Cheques deposited by one of the customers of bank but wrongly credited in a/c Rs.20,600. The balance as per Cash Book is




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58. Question

A and B are partners in a firm with capitals of Rs. 5,00,000 each. They admit C as a partner with 1/4″ share in the profits of the firm. C brings Rs. 8,00,000 as his share of capital. The profit and loss account showed a credit balance of Rs. 4,00,000 as on the date of his admission. The value of hidden goodwill will be




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59. Question

Which of the following is the salient feature of bank reconciliation statement?




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