Depreciation appearing in the Trial Balance should be
A) Debited to P&L A/c
B) Shown as liability in Balance Sheet
C) Reduced from related asset in Balance Sheet
D) Both (a) and (c) above
Correct Answer:
Verified
Q12: Under the direct write-off method of recognizing
Q13: At the time of preparation of financial
Q14: The balance of Revaluation Reserve pertaining to
Q15: Outstanding salaries is shown as
A)An Asset in
Q16: Insurance prepaid is shown as
A)Current Asset
B)Current Liability
C)Fixed
Q18: A club paid subscription fees of `1,400.
Q19: Bad debts recovered is
A)Credited to P&L A/c
B)Debited
Q20: The adjustment to be made for prepaid
Q21: On scrutiny of a firm's books of
Q22: Which of the following entries is correct
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