Pre-Mocks-1

Bashir Traders bought furniture for office use on account for Rs 237,000. The account heads that will be affected by the given transaction are

1. Imperial Shoe Store paid an advance rent of Rs 60,000 for 3 months to the owner, Mr. Shahid. The amount of advance rent will be treated by Shahid as a/ an

KMK General Store-bought grocery on bulk from KBC warehouse on March 01, 2018. After a week, the store returned a few of the goods as they were not up to the order.

The document that will be issued by the KBC warehouse at the time of return is

1. Urooj and Simran want to merge their individual businesses. The details of their individual businesses are as follows:

The amount of total capital of Urooj in her business is

Ahmed Traders paid transportation cost of Rs 12,000 on the purchase of machinery of Rs 980,000 for business use.

The business will treat transportation cost as

Kiran Grocery Store is a huge retail outlet that has an average daily sale of Rs 80,000. The accountant of the business forgot to record an entertainment expense of Rs 500. Upon examination, the auditors identified and knowingly ignored this mistake.

The accounting principle on the basis of which the error was ignored by the auditor is

Varsha is a school teacher in Karachi. She is planning to go for a conference in Islamabad. She took an advance salary of Rs 35,000 from the school management.

The amount of advance taken by Varsha will be treated by school management as

Mr Ahmed owns an office and has an employee responsible for day-to-day purchasing, like stationery, office materials, etc. He has allotted a lump sum fixed amount for the day-to-day expenditures. At the end of the month, the employee would submit the vouchers and the account will be replenished by Mr Ahmed.

Which of the following accounting books will be used in the given scenario?

The column that distinguishes between the two column cash book and three column cash book is