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Study the following hypothetical case study and answer the given questions: Rohit, the accountant of M/s Ravi Kanth Emporium who keep their books by Single Entry System, has accumulated the following information:He also knows the following information that has been in the company:(i) A provision of ₹1,450 is required for bad and doubtful debts.(ii) Depreciation @5% is to be written off on Building and Furniture.(iii) Wages outstanding ₹3,000; salaries outstanding ₹1,200.(iv) Insurance has been prepaid to the extent of ₹250(v) Legal Expenses outstanding ₹700 (f) Drawings of ₹7,520 were made.Q. What will be the treatment of outstanding wages and salaries?a)Subtracted from the Closing Capital in the Statement of Profit and Loss.b)Shown in the Liabilities side of the Final Statement of Affairs.c)Both (a) and (b)d)Neither (a) nor (b)Correct answer is option 'C'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Study the following hypothetical case study and answer the given questions: Rohit, the accountant of M/s Ravi Kanth Emporium who keep their books by Single Entry System, has accumulated the following information:He also knows the following information that has been in the company:(i) A provision of ₹1,450 is required for bad and doubtful debts.(ii) Depreciation @5% is to be written off on Building and Furniture.(iii) Wages outstanding ₹3,000; salaries outstanding ₹1,200.(iv) Insurance has been prepaid to the extent of ₹250(v) Legal Expenses outstanding ₹700 (f) Drawings of ₹7,520 were made.Q. What will be the treatment of outstanding wages and salaries?a)Subtracted from the Closing Capital in the Statement of Profit and Loss.b)Shown in the Liabilities side of the Final Statement of Affairs.c)Both (a) and (b)d)Neither (a) nor (b)Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Study the following hypothetical case study and answer the given questions: Rohit, the accountant of M/s Ravi Kanth Emporium who keep their books by Single Entry System, has accumulated the following information:He also knows the following information that has been in the company:(i) A provision of ₹1,450 is required for bad and doubtful debts.(ii) Depreciation @5% is to be written off on Building and Furniture.(iii) Wages outstanding ₹3,000; salaries outstanding ₹1,200.(iv) Insurance has been prepaid to the extent of ₹250(v) Legal Expenses outstanding ₹700 (f) Drawings of ₹7,520 were made.Q. What will be the treatment of outstanding wages and salaries?a)Subtracted from the Closing Capital in the Statement of Profit and Loss.b)Shown in the Liabilities side of the Final Statement of Affairs.c)Both (a) and (b)d)Neither (a) nor (b)Correct answer is option 'C'. Can you explain this answer?.

Solutions for Study the following hypothetical case study and answer the given questions: Rohit, the accountant of M/s Ravi Kanth Emporium who keep their books by Single Entry System, has accumulated the following information:He also knows the following information that has been in the company:(i) A provision of ₹1,450 is required for bad and doubtful debts.(ii) Depreciation @5% is to be written off on Building and Furniture.(iii) Wages outstanding ₹3,000; salaries outstanding ₹1,200.(iv) Insurance has been prepaid to the extent of ₹250(v) Legal Expenses outstanding ₹700 (f) Drawings of ₹7,520 were made.Q. What will be the treatment of outstanding wages and salaries?a)Subtracted from the Closing Capital in the Statement of Profit and Loss.b)Shown in the Liabilities side of the Final Statement of Affairs.c)Both (a) and (b)d)Neither (a) nor (b)Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for Commerce. Download more important topics, notes, lectures and mock test series for Commerce Exam by signing up for free.

Here you can find the meaning of Study the following hypothetical case study and answer the given questions: Rohit, the accountant of M/s Ravi Kanth Emporium who keep their books by Single Entry System, has accumulated the following information:He also knows the following information that has been in the company:(i) A provision of ₹1,450 is required for bad and doubtful debts.(ii) Depreciation @5% is to be written off on Building and Furniture.(iii) Wages outstanding ₹3,000; salaries outstanding ₹1,200.(iv) Insurance has been prepaid to the extent of ₹250(v) Legal Expenses outstanding ₹700 (f) Drawings of ₹7,520 were made.Q. What will be the treatment of outstanding wages and salaries?a)Subtracted from the Closing Capital in the Statement of Profit and Loss.b)Shown in the Liabilities side of the Final Statement of Affairs.c)Both (a) and (b)d)Neither (a) nor (b)Correct answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Study the following hypothetical case study and answer the given questions: Rohit, the accountant of M/s Ravi Kanth Emporium who keep their books by Single Entry System, has accumulated the following information:He also knows the following information that has been in the company:(i) A provision of ₹1,450 is required for bad and doubtful debts.(ii) Depreciation @5% is to be written off on Building and Furniture.(iii) Wages outstanding ₹3,000; salaries outstanding ₹1,200.(iv) Insurance has been prepaid to the extent of ₹250(v) Legal Expenses outstanding ₹700 (f) Drawings of ₹7,520 were made.Q. What will be the treatment of outstanding wages and salaries?a)Subtracted from the Closing Capital in the Statement of Profit and Loss.b)Shown in the Liabilities side of the Final Statement of Affairs.c)Both (a) and (b)d)Neither (a) nor (b)Correct answer is option 'C'. Can you explain this answer?, a detailed solution for Study the following hypothetical case study and answer the given questions: Rohit, the accountant of M/s Ravi Kanth Emporium who keep their books by Single Entry System, has accumulated the following information:He also knows the following information that has been in the company:(i) A provision of ₹1,450 is required for bad and doubtful debts.(ii) Depreciation @5% is to be written off on Building and Furniture.(iii) Wages outstanding ₹3,000; salaries outstanding ₹1,200.(iv) Insurance has been prepaid to the extent of ₹250(v) Legal Expenses outstanding ₹700 (f) Drawings of ₹7,520 were made.Q. What will be the treatment of outstanding wages and salaries?a)Subtracted from the Closing Capital in the Statement of Profit and Loss.b)Shown in the Liabilities side of the Final Statement of Affairs.c)Both (a) and (b)d)Neither (a) nor (b)Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of Study the following hypothetical case study and answer the given questions: Rohit, the accountant of M/s Ravi Kanth Emporium who keep their books by Single Entry System, has accumulated the following information:He also knows the following information that has been in the company:(i) A provision of ₹1,450 is required for bad and doubtful debts.(ii) Depreciation @5% is to be written off on Building and Furniture.(iii) Wages outstanding ₹3,000; salaries outstanding ₹1,200.(iv) Insurance has been prepaid to the extent of ₹250(v) Legal Expenses outstanding ₹700 (f) Drawings of ₹7,520 were made.Q. What will be the treatment of outstanding wages and salaries?a)Subtracted from the Closing Capital in the Statement of Profit and Loss.b)Shown in the Liabilities side of the Final Statement of Affairs.c)Both (a) and (b)d)Neither (a) nor (b)Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Study the following hypothetical case study and answer the given questions: Rohit, the accountant of M/s Ravi Kanth Emporium who keep their books by Single Entry System, has accumulated the following information:He also knows the following information that has been in the company:(i) A provision of ₹1,450 is required for bad and doubtful debts.(ii) Depreciation @5% is to be written off on Building and Furniture.(iii) Wages outstanding ₹3,000; salaries outstanding ₹1,200.(iv) Insurance has been prepaid to the extent of ₹250(v) Legal Expenses outstanding ₹700 (f) Drawings of ₹7,520 were made.Q. What will be the treatment of outstanding wages and salaries?a)Subtracted from the Closing Capital in the Statement of Profit and Loss.b)Shown in the Liabilities side of the Final Statement of Affairs.c)Both (a) and (b)d)Neither (a) nor (b)Correct answer is option 'C'. Can you explain this answer? tests, examples and also practice Commerce tests.