P and Q are two partners sharing profit and loss equally P draws Rs 2,000 at the end of each month for 6 months whereas Q draws Rs 4,000 at the beginning of each month for six months Assuming that interest on drawing is to be charged 5 p a interest on drawing of Q will be A B C D Rs 350 Rs 380 Rs ...

Solution Correct option is A Average period 3 ...

P and Q are two partners sharing profit and loss equally. P draws Rs. 2,000 at...

Fantastic news! We've Found the answer you've been seeking!

Question:

Related Book For answer-question

Principles of Auditing and Other Assurance Services

ISBN: 978-0078025617

19th edition

Authors: Ray Whittington, Kurt Pany

See More Books

Posted Date: Jan 18, 2021 11:15 AM

See More Questions

In testing controls over purchases, an auditor most likely would determine that the person who receives inventory. a. Posts to the general ledger to reflect the receipt of goods. b. Already has...
Multiple Choice Questions a. An auditor most likely would make inquiries of production and sales personnel concerning possible obsolete inventory to address: (1) Valuation. (2) Rights. (3) Existence....
An auditor most likely would analyze inventory turnover rates to obtain evidence concerning managements balance assertions about a. Existence. b. Rights and obligations. c. Completeness. d. Valuation...
Use a histogram to graph the cumulative frequencies. Use the following information to answer question. Suppose a class of high school seniors had the following distribution of SAT scores in English....
A program to reduce recidivism has been in effect for two years in a large northeastern state. A sociologist investigates the effectiveness of the program by taking a random sample of 200 prison...
An example of the vertical-horizontal illusion is shown in the figure below. Although the two lines are exactly the same length, the vertical line appears to be much longer. To examine the strength...
The solvent in a dilute solution follows (a) Henry's law (b) Dalton's law (c) Raoult's law (d) None of these.
The Polishing Department of Estaban Manufacturing Company has the following production and manufacturing cost data for September. Materials are entered at the beginning of the process. Production:...
Thayer Farm trust made a farmer a loan of $1, 200 at 16% for three years compounded annually. Find the future value and the compound interest paid on the loan. Compare the compound interest with...
What is the relationship between the variable LastByteRcvd in Section 3.5.5 and the variable y in Section 3.5.4?
Horses Company projected the following January 31 balance sheet: Cash Accounts receivable Merchandise Inventory Assets Plant assets (net of accumulated deprecation**) Total Assets Accumulated...
In the context of development priorities, what are the relative roles of central banks, commercial banks, development banks, informal and unorganized sources of credit, and microfinance such as the...
Distinguish carefully between private and social benefits and costs of education. What economic factors give rise to the wide divergence between private and social benefit-to-cost valuations in most...
What are the basic static and dynamic arguments for economic integration in less developed countries? Briefly describe the various forms that economic integration can take (e.g., customs union,...
Draw up a balance of payments table similar in format to Table 13. 3 using the most recent data from any developing country (consult the IMFs International Financial Statistics at imfstatistics.org/...
What has been proposed to resolve the problem of odius debt? How effective a solution do you think this will be for averting future problems involving developing-country debt?
You stand on a bathroom scale, the spring inside the scale compresses 5.35 mm, and it reads your weight as 650 N. Now if you fall from rest onto the scale from a height of 0.10 m, what does the scale...
Show that, given a maximum flow in a network with m edges, a minimum cut of N can be computed in O(m) time.
A summary of the controls for the acquisition cycle of Keystone Computers & Networks, Inc., appears on pages 594595. a. For the following three controls over the acquisition cycle, indicate one type...
Devry Corporation has established an independent foundation for the purposes of community improvement. The foundation employs an executive director and eight staff people. The internal auditors of...
Walter Conn, CPA, is engaged to audit the financial statements of Bingo Wholesaling for the year ended December 31, 20X0. Conn obtained and documented an understanding of the client and its...
An effectiveness factor of electro-osmotic flow is often used. This factor is defined as the volumetric flow rate due to electo-osmosis divided by that due to an applied pressure gradient. Derive an...
A circular capillary has a diameter of $10 \mu \mathrm{m}$ and a length of $3 \mathrm{~cm}$. The surface carries a zeta potential of $-0.5 \mathrm{~V}$. The flowing fluid is an aqueous solution...
Find the streaming potential when a pressure drop of $0.1 \mathrm{MPa}$ is applied to a liquid with a specific conductivity of $0.0014 \mathrm{~S} / \mathrm{m}$. The surface charge is \(100...

P and Q are two partners sharing profit and loss equally. P draws Rs. 2,000 at...

Question:

Expert Answer:

Solution Correct option is A Average period 3... View the full answer

Principles of Auditing and Other Assurance Services

Students also viewed these accounting questions