Purchase price of furniture

$$1,20,000$$

, accumulated depreciation

$$20,000$$

; if depreciation is charged at

$$10\%$$

on the book value, what is the depreciation amount?

1.If shares are issued at a premium, what will be the effect on the company's financial position?

2.What type of asset is share premium?

3.If '$X^{\prime} Company issues shares at 10$% premium and receives a total of

4.What is a bad debt for a business?

5.What is the net purchase of '$X^{\prime}$ Ltd.?

6.Unpaid dividends- i. A part of declared dividend ii. A current liability iii.Can be adjusted with profits after a long time Which one is correct?

7.X, Y, and Z are partners. Net profit 30,000, distributed in

8.What is the production cost per table?

9.In the fixed capital method, $partners^{\prime} commission should be$ shown- i. Debit in profit & loss appropriation account ii. Credit in $partners^{\prime} capital account$ iii. Credit in $partners^{\prime} current account Which one is$ correct?

10.What does a credit balance in $partners^{\prime} current account$ indicate?

11.What is the full form of IPO?

12.What will be the premium amount in the financial statement?