The Regal Cycle Company manufactures three types of bicycles—a dirt bike, a mountain bike, and a racing bike. Data on sales and expenses for the past quarter follow:
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AccountingFull description
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accounting function principles
AL-SYED COLLEGE COLLEGE COMMERCE COMMERCE
IMPORTANT SHORT QUESTIONS Capital fund Difference between cash book & receipts and payment account 3. Donation 4. Give 3 objective non-trading concerns 5. Honorarium 6. Income & expenditure account 7. Legacy 8. Life membership fee 9. Non-trading concern 10. receipts and payment account 11. Special subscription 12. Surplus 13. Trading concern 14. Two examples of non-trading concern 15. Difference between balance sheet & statement of affairs 16. Single entry system 17. Statement of affairs 18. Two advantages of single entry system 19. Articles of association 20. Authorized capital capital 21. Balance sheet 22. Chartered company 23. Debentures 24. Deferred shares 25. Director 26. Issued capital 27. Joint stock company 28. Kinds of share 29. Memorandum of association 30. Ordinary shares 31. Paid-up capital 32. Promoters 33. Prospectus 34. Public limited company 35. Share 36. Subscription 37. Under-subscription Under-subscription of share 38. Underwriter 39. Abnormal loss 40. Account sale 41. Commission 42. Consignee 43. Consignment 44. Consignment account 45. Consignment inward 46. Consignment outward 47. Consignor 48. Del-credere commission 49. Difference between account sale and sale account 1. 2.
50. Difference between consignment and sale 51. How unsold stock is valued 52. Normal loss 53. Ordinary commission 54. What is relationship between consignor and c 55. onsignee? 56. Active partner 57. Different treatment of goodwill 58. Firm 59. Formula of sacrifice ratio 60. General reserve 61. Goodwill 62. Goodwill raised 63. How hidden goodwill is calculated 64. How many partners are in a partnership? 65. How partnership dissolved with the help of court 66. Insolvency 67. Minor partner 68. Partnership 69. Partnership deed 70. Retired partner/outgoing partner 71. Revaluation account 72. Sacrifice ratio 73. Depletion 74. Depreciation 75. Diminishing balance method/reducing balance 76. 77. 78. 79. 80. 81. 82. 83. 84. 85.
method/written method/written down value method Fixed asset Fixed installment method/straight line method/original cost method Formula straight line method Scrap value Wear and tear Why depreciation is charged Write down 2 advantages of original cost method Share application money received Find out sacrifice ratio of A & B when new ratio A, B & C 3:1:1 and old ratio A & B 3:1 Opening capital Rs.15600, Closing Capital Rs.14000, Drawings Rs.4800 & Additional Capital Rs.2000, find the profit/loss.
86. What is a fluctuating capital method of maintaining a
partner’s capital account in a firm? 87. Pass the entries of following:
a. b. c. d. e.
Cons Consig igno norr expe expens nses es Depre epreci ciat atiion Issu Issue e of of sha share re at disc discou ount nt Issu Issue e of of sha share re at prem premiu ium m Reva Revalu luat atio ion n prof profit it
