Three years ago, a machine was bought for Tk 1,00,000. The installation cost was Tk 20,000. The machine was depreciated in a straight line method at 20% per year. At the end of the 3rd year, the machine was sold for Tk 46,000. What is the gain/loss from sale of this machine?

When Luminous Company purchased supplies worth Tk 600, it incorrectly recorded a credit to Supplies for Tk 6,000 and a debit to Cash for Tk 6,000. Before correcting this error:

A credit sale of Tk 750 is made on March 3, terms 2/10, net/30. A return of Tk 50 is granted on March 6. The amount received as payment in full on March 9 is:

In periods of rising prices, LIFO will produce -

At the beginning of the month, the accounts receivable subsidiary ledger showed balances for Anchor Company Tk 5,000 and Best Company Tk 7,000. During the month, credit sales were made to Anchor Tk 6,000, Best Tk 4,500, and Zen Tk 8,500. Cash was collected on account from Best Tk 11,500 and Zen Tk 3,000. At the end of the month, the Accounts Receivable account of Best Company in the general ledger should have a balance of -

The reconciling item in a bank reconciliation that will result in an adjusting entry by the depositor is:

Accounts receivable at the end of the month is Tk 80,000. Bad debts are expected to be 5% of accounts receivable. If Allowance for Doubtful Accounts has a credit balance of Tk 1,000 before adjustment, what is the balance after adjustment?