Question :
The club sold all its furniture of book value Rs.9,000 for Rs.4,500. It purchased new furniture of Rs.20,000 in the mid year. Depreciation charged @ 10%. This information will be shown as under:
Option 1: Loss on sale of furniture Rs.4,500 and depreciation Rs.2.000 debited to Income and Expenditure A/c
Option 2: Loss on sale of furniture Rs.2,000 and depreciation Rs.4,500 credited to Income and Expenditure A/c
Option 3: Balance Sheet as furniture at Rs.13,500
Option 4: None of these
Correct Answer: Loss on sale of furniture Rs.4,500 and depreciation Rs.2.000 debited to Income and Expenditure A/c
Solution : It is because p.a. word is missing after 10% therefore time period of mid year will be ignored. Depreciation of furniture = Rs.20,000 X 10% = Rs.2,000 is to be debited to Income and Expenditure Account. Loss on sale of furniture = Rs.9,000 - Rs.4,500 = Rs.4,500 is to be debited to Income and Expenditure Account. Hence, the correct option is 1.
A sports club, incurred tournament. Expenses of Rs.2,10,000 whereas it has only Rs.1,80,000 in its Tournament Fund A/c. This information will be reflected as:
Option 1:
Debit Income and Expenditure A/c by Rs.30,000
Option 2:
Credit Income and Expenditure A/c by Rs.30,000
Option 3:
Rs.30,000 Tournament Fund on the asset side of
Balance Sheet
Option 4: Rs.30,000 Tournament Fund on the liabilities side of Balance Sheet
Find out the meaning of the phrasal verb
Ask out
Option 1: Ask a question
Option 2: Ask to quarrel
Ask to go on a date
Option 4:
Ask to come near
Option 5:
Ask to do something
Complete the following sentence:
Most people in India waste time _______ others; they find it hard to face their targets and thus speak ill about them in privacy.
disparage
Option 2: elude
maroon
resplendent
exalt
Correct the following sentence if it is incorrect
The students were utterly disgruntled and the management was equally oblivious about the opprobrium to be generated among students.
Option 1: utterly disgruntled and the management was equally oblivious to the opprobrium to be generated between students
utterly disgruntled and the management was equally oblivious on the opprobrium to be generated among students
utterly disgruntled and the management was equally oblivious of the opprobrium to be generated among students
utterly disgruntled and the management was equally oblivious around the opprobrium to be generated among students
utterly disgruntled and the management was equally oblivious about the opprobrium to be generated among students
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