Read the given information carefully and answer it
(i) Interest on Drawings
(ii) Paid to Sita Rs 950 in full settlement of her dues of Rs 1,000.
(c) Compound journal entry
(d) Transfer journal entry
(c) Compound journal entry
(d) Transfer journal entry
52 Part (i) is which type of journal entry?
(a) Opening journal entry
(b) Simple journal entry
53 Part (ii) is which type of journal entry?
(a) Opening journal entry
(b) Simple journal entry
54 In part (i) Interest on Drawings:
(a) Increases assets and decreases capital
(b) Increases equity and decreases liability
(c) Increases and decreases capital
(d) Increases liability and decreases capital
55 In part (ii) the difference of Rs 50 is:
(a) Cash received
(b) Cash paid
(c)Discount received
(d) Discount allowed
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rest on Drawings
(ii) Paid to Sita Rs 950 in full settlement of her dues of Rs 1,000.
(c) Compound journal entry
(d) Transfer journal entry
(c) Compound journal entry
(d) Transfer journal entry
52 Part (i) is which type of journal entry?
(a) Opening journal entry
(b) Simple journal entry
53 Part (ii) is which type of journal entry?
(a) Opening journal entry
(b) Simple journal entry
54 In part (i) Interest on Drawings:
(a) Increases assets and decreases capital
(b) Increases equity and decreases liability
(c) Increases and decreases capital
(d) Increases liability and decreases capital
55 In part (ii) the difference of Rs 50 is:
(a) Cash received
(b) Cash paid
(c)Discount received
(d) Discount allowed
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