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The final accounts of a manufacturing company generally include the following statements. Select the correct sequence in the which the statements are prepared
i. Balance sheet
ii. Manufacturing account
iii. Profit and loss account
iv. Trading account
v. Profit and loss appropriation account

The final accounts of a manufacturing company generally include the following statements. Select the correct sequence in the which the statements are prepared
i. Balance sheet
ii. Manufacturing account
iii. Profit and loss account
iv. Trading account
v. Profit and loss appropriation account Correct Answer ii, iv, iii, v, i

Related Questions

Consider the following statements : a. In October 1976, an organisation named Controller General of Accounts was set up. b. The Controller General of Accounts prepares a condensed form of the Appropriation Accounts and Financial Accounts of the Union Government. c. The appropriation audit and regulatory audit are the statutory duties of the CGA. Which of the statement/s given above is/are incorrect?
Assertion (A): In preparing final accounts, if closing stock is given in the trial balance, it is shown only in the Balance Sheet.
Reason (R): Any item appearing in the trial balance is treated only at one place i.e. either in the trading and profit & loss a/c or in the balance sheet.
Now, select the correct answer:
A and B are partners with a profit-sharing ratio of 2 : 1 and capitals of Rs. 3,00,000 and Rs. 2,00,000, respectively. They are allowed 6% per annum interest on their cap itals and are charged 10% per annum interest on their drawings. Their drawings during the year were Rs. 60,000 for A and Rs. 40,000 for B. B's share of net profit as per profit and loss appropriation account amounted to Rs. 40,000. The net profit of the firm before any appropriation was
What is the correct sequence of the following actions required for the preparation of financial accounts?
1. Trading account
2. Making adjusting entries
3. Balance sheet
4. Profit and Loss account
Select the correct answer:
Which of the following statements are correct. Answer using the given below:
(1) Ascertainment of goods for sale is done by buyer.
(2) Appropriation of goods for sale is done by seller.
(3) Distinction between ascertainment of goods and appropriation of goods that former involves lithe element of common intention between buyer and seller", whereas later can be a unilateral act by buyer.
(4) Property in goods does not pass to buyer till appropriation.
In a survey conducted over a group of people, it was found that 65% of them have a Facebook account, 40% of them have an Instagram account and 25% of them have a Twitter account. It was also concluded that 20% have an account on both Facebook and Instagram, 12% have an account on both Instagram and Twitter and 14% have an account on both Facebook and Twitter. If 8% of the people had an account on all the three websites, what percentage of the people do not have an account on any of the three websites?
The question given below consists of a statement, followed by three arguments I, II and III. You have to decide which of the arguments is/are ‘strong’ arguments is/are ‘weak’ arguments and accordingly choose your answer from the alternatives given below each question. Statement: For users, Facebook's revelation of a data breach that gave attackers access to 50 million accounts raises an important question: What happens next? For the owners of the affected accounts, and of another 40 million that Facebook considered at risk, the first order of business may be a simple one: sign back into the app. Facebook logged everyone out of all 90 million accounts in order to reset digital keys the hackers had stolen - keys normally used to keep users logged in, but which could also give outsiders full control of the compromised accounts.  Which of the following points do not capture the negligence of Facebook in the most appropriate manner? Arguments: I. What Facebook knows so far is that hackers got access to the 50 million accounts by exploiting three distinct bugs in Facebook's code that allowed them to steal those digital keys, technically known as ‘access tokens’. The company says it has fixed the bugs.  II. The hack is the latest setback for Facebook during a tumultuous year of security problems and privacy issues . So far, though, none of these issues have significantly shaken the confidence of the company's 2 billion global users.  III. One of the bugs was more than a year old and affected how the ‘View As’ feature interacted with Facebook's video uploading feature for posting ‘happy birthday’ messages. But it wasn't until mid-September that Facebook noticed an uptick in unusual activity, and not until this week that it learned of the attack.
At the beginning of the month, the accounts receivable subsidiary ledger showed balances for Anchor Company Tk 5,000 and Best Company Tk 7,000. During the month, credit sales were made to Anchor Tk 6,000, Best Tk 4,500, and Zen Tk 8,500. Cash was collected on account from Best Tk 11,500 and Zen Tk 3,000. At the end of the month, the Accounts Receivable account of Best Company in the general ledger should have a balance of -
Read the following statements and mark your answer:
i. Return on Investment (R.O.I.) is calculated as part of final accounts preparation exercise
ii. Inventory valuation is a must for ascertaining profit by preparation of Trading Account
iii. Operational audit is a statutory requirement for a company auditor
iv. Garner Vs. Murray case relates to settlement of accounts on insolvency of a partner of the firm
According to the profit and loss account, the net profit for the year is Rs. 1,50,000. The total interest on partner's capital is Rs. 18,000 and, interest on partner's drawings is Rs. 2,000. The net profit as per profit and loss appropriation account will be