Question :
An old customer, whose account was written off as bad debts has promised to pay Rs. 15,000 in full settlement of his account of Rs.25,000. The value of sundry debtors will be.
Option 1: Increased by Rs 15,000
Option 2: Decreased by Rs 15,000
Option 3: Increased by Rs 25,000
Option 4: Decreased by Rs 25,000
Correct Answer: Increased by Rs 15,000
Solution :
Answer = Increased by Rs 15,000
Sundry debtors will be increased by Rs 15000
debtor A/c Dr 15000
To Revaluation 15000 Hence, the correct option is 1.
Question : At the time of dissolution of a firm, Debtors were Rs. 34000 out of which Rs. 1000 became bad and the rest realised 60%. Which account will be debited and by how much amount?
Option 1: Realisation Account by Rs. 19800
Option 2: Profit and Loss Account by Rs 500
Option 3: Cash Account by Rs. 19800
Option 4: Debtors Account by Rs. 19800
Select the phrase/connector from the given options to form a single sentence from the two sentences given below, implying the same meaning as expressed in the statement sentences
It was a bad idea. It was not risk-free.
Option 1: It was a bad idea but it was not risk-free
Option 2:
It was a bad idea and it was not risk-free
Option 3:
It was a bad idea with it was not risk-free
Option 4:
It was a bad idea despite being risk-free
Option 5:
It was a bad idea yet it was not risk-free
Question : In the Balance Sheet, Total Debtors appear at Rs.5, 00,000 and Provision for Doubtful Debts appears at Rs. 1,50,00. How much amount will be realised from Debtors if bad debts amount to Rs. 1,00,000 and remaining debtors are realised at a discount of 5%?
Option 1: Rs 3,80,000
Option 2: Rs 3,65,000
Option 3: Rs 3,65,750
Option 4: Rs 3,95,000
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