The work-in-progress Control Account of JK Ltd., shows a total of ₹9,30,000. The Stores Ledger Control Account ₹1,44,000 and the closing balance of ₹72,000 are in the credit side. Then the balance ₹7,14,000 being the bal
CS Executive · Cost and Management Accounting · PYQS · December 2017
The work-in-progress Control Account of JK Ltd., shows a total of ₹9,30,000. The Stores Ledger Control Account ₹1,44,000 and the closing balance of ₹72,000 are in the credit side. Then the balance ₹7,14,000 being the balancing figure transferred to: (A) Stores Ledger Control Account (B) Cost Ledger Control Account (C) Costing Profit and Loss Account (D) Finished Goods Account
Answer & Explanation:
Correct Answer: Option (D)
Official answer key: (D).
Topics: Integrated & Non-Integrated Accounts
Related Questions in this Topic
- In a firm the cost and financial transactions are integrated. Under this situation the firm paid wages amounted to ₹1,20...
- When finished goods are sold at total sales value, the account to be debited is: (A) General Ledger Adjustment Account (...
- Non-Integrated Account System followed in an organization enables it to achieve : (A) High level of efficiency (B) Great...
- The items of accounts excluded from non-integrated accounting system and represented by cost ledger control account are:...
- 100. .......... method of cost is adopted when by-products are utilised by the factory itself as input for some other pr...