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Standard XII

Accountancy

Issue for Consideration Other Than Cash

What is the m...

Question

What is the monetary value required for an e-way bill to be generated for the transport of goods?

Rs. 20,000

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Rs. 30,000

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Rs. 40,000

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Rs. 50,000

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Rs. 60,000

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Solution

The correct option is D
Rs. 50,000

E-way bill is an electronic way bill for movement of goods which can be generated on the e-Way Bill Portal. Transport of goods of more than Rs 50,000 in value cannot be made by a registered person without an e-way bill.

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Q. Listed in random order below are the balance sheet figures of Mr. Q as at

31 - 3 - 2015

Trade receivables
Trade payabes
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Capital
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Cash
Reserves
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Retained earnings

R s . 50, 000

R s . 30, 000

R s . 90, 000

R s . 1, 00, 000

R s . 40, 000

R s . 10, 000

R s . 20, 000

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The owner's equity

= ?

Calculate the gross profit /loss if:

Sales Rs. 60,000; Closing stock Rs. 50,000; Opening stock Rs. 10,000; Purchases Rs. 40,000; Wages Rs. 20,000.

Prepare Trial Balance from the following information:

Loan given to Ramesh Rs.40,000; Trade Receivables Rs.50,000; Livestock Rs.30,000; Drawings Rs.10,000. Preliminary Expenses Rs.20,000; Investment Rs.50,000; Interest on investment Rs.5,000. Capital Rs.1,25,000; Advance from Mohan Rs.35,000; Bank overdraft Rs.15,000; Provision for doubtful debts Rs.8,000; General Reserve Rs.12,000.

Calculate the gross profit /loss if:

Sales Rs. 60,000; Cost of sales Rs. 50,000; Opening stock Rs. 10,000; Purchases Rs.40,000; Wages Rs. 20,000 and Office rent Rs. 10,000.

M/s Saniya Sports Equipment does not keep proper records. From the following information find out profit or loss and also prepare balance sheet for the year ended March 31, 2017

	April. 31, 2016		March. 31, 2017
		Rs		Rs
Cash in hand		6,000		24,000
Bank overdraft		30,000		–
Stock		50,000		80,000
Sundry creditors		26,000		40,000
Sundry debtors		60,000		1,40,000
Bills payable		6,000		12,000
Furniture		40,000		60,000
Bills receivable		8,000		28,000
Machinery		50,000		1,00,000
Investment		30,000		80,000

Drawing Rs 10,000 p.m. for personal use, fresh capital introduce during the year Rs 2,00,000. A bad debts of Rs 2,000 and a provision of 5% is to be made on debtors outstanding salary Rs 2,400, prepaid insurance Rs 700, depreciation charged on furniture and machine @ 10% p.a.

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What is the monetary value required for an e-way bill to be generated for the transport of goods?

The correct option is D Rs. 50,000 E-way bill is an electronic way bill for movement of goods which can be generated on the e-Way Bill Portal. Transport of goods of more than Rs 50,000 in value cannot be made by a registered person without an e-way bill.

The correct option is D
Rs. 50,000

E-way bill is an electronic way bill for movement of goods which can be generated on the e-Way Bill Portal. Transport of goods of more than Rs 50,000 in value cannot be made by a registered person without an e-way bill.