CBSE Questions for Class 11 Commerce Accountancy Financial Statements 1 Quiz 16 - MCQExams.com

Sundry debtors before making following adjustment are Rs. 34,300.
Adjustment:
-Two dishonoured cheque for Rs. 200 & Rs. 320, respectively, from customer X and Y has not been entered in cash book. The first one for Rs. 200 is bade and irrevocable. In case of second cheque for Rs. 320, it is expected that Y will pay a dividend of Rs. 75 paisa in the rupee.
-Included in sundry debtors Rs. 5,000 due from J. Sen whereas sundry creditor included Rs. 2,000 due to J. Sen.
In balance sheet debtors will appear at.
  • Rs. 32,540
  • Rs. 32,620
  • Rs. 29,540
  • Rs. 31,540
Opening Stock of Raw-Materials Rs. 1,00,Closing stock of Materials Rs. 2,00,000, PurchasesRs. 3,00,000, Carriage Inward Rs.10,000, Freight outward Rs. 5,Purchase Return Rs. 20,000, Opening work-in progress Rs. 25,000, Closing Work-in-progress Rs. 10,Manufacturing overheads Rs. 6,000, Selling overheads Rs. 10,000, Sale of By-products Rs.1,000, Royalty based on production Rs. 5,Opening stock of finished Goods Rs. 1,00,000, Closing Stock of Finished Goods Rs. 2,00,The manufacturing cost of finished goods sold is ______________.
  • Rs. 1,20,000
  • Rs. 1,15,000
  • Rs. 1,35,000
  • None of these
Insurance paid in advance would be treated in the Balance sheet as _______________.
  • Non current asset
  • Current asset
  • Intangible asset
  • Deferred expense
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