Which of the following account with normal balance is shown at the credit side of a trial balance?

Related Mcqs:

Sales on credit is recorded in which of the following journal?

A. Purchase journal B. Sales journal C. Purchases return journal D. Sales return journal...

_______ the withdrawal of cash and goods by the owner of the busienss for his/her personal use?

A. Depreciation B. Drawings C. Outflow of cash D. Appreciation...

For the past 3 years, DK Ltd. has failed to accrue unpaid wages earned by workers during the last week of the year. The amounts omitted, which were considered material, were as follows:

March 31,2010 – ` 56,000 March 31, 2011 – ` 51,000 March 31, 2012 – ` 64,000 The entry on March 31, 2012 to rectify these omissions would include a A. Credit to wage expense for ` 64,000 B. Debit to wage expense for ` 64,000 C. Debit to wage expense for ` 51,000 D. … For the past 3 years, DK Ltd. has failed to accrue unpaid wages earned by workers during the last week of the year. The...

Which of the following error is an error of principle

A. 5,000 received from Sham credited to Ram A/c B. 5,000 incurred on installation of new plant debited to travelling expenses A/c C. 500 paid for wages debited to salary A/c D. 500 being purchase of raw material debited to purchase A/c ` 50...

Which of the following shall not be deducted from net profit while calculating managerial remuneration?

A. Loss on sale of undertaking B. Debts considered bad and written off C. Liability arising from a breach of contract D. Director‘s remuneration...