"ASSIGMENT QUESTIONS SOLUTION PART1. Cash deposited into bank (b ) Options: A:-fixed Asset B:-Current Asset C:-current Liabilities d. Intangible AssetAnswer:-B.CURENT ASSET Explanation:--Mr.x visits hdfc bank regards deposit 50000$ in to bank Emergency situation bank mainoperation withdrawal option also used by customer to withdrawal cash is not constant inbank it flows bank to customer end..customer end to bank….In this Assignment questionHdfc Bank cashier reeive money from Mr.x for cash deposit in mr.x Account 50000$Real Accounting golden principle applied Explanation:-cash comes in bank so debit hdfc bank account so mr.x end cash goes outcash a/c should be credit ….Entry:-Hdfc Bank A/c dr 50000$To cash A/c cr 50000$(Being cash deposited into Hdfc Bank)2. John receive money from peter 20000$ (B)A.Sundry Creditor B.Sundry Debtor c.Current Asset D.Current LiabiitiesAnswer:-B.Sundry DebtorExplanation:-- Personal Account Goldent princicples of Account Applied in this transaction…Here john receive money from peter john get the benenfit from peterso john treats debtor and peter gives money to ram peter treats creditor…EntryJohn A/c dr To cash(being peter gives cash to john)3.Office Rent Paid In Advance 10000$ (B)A.Fixed AssetB.Current AssetC.Current Liabilites D.intangible AssetsAnswer:-B.Current Asset Explanation:-- Mr..x started new sonsultancy business to startconsultancy business operation pupose toPay rent 10000$ in advance Entry:- RENT A/C(OFFICE ) DR 10,000 $TO CASH A/C(BEING RENT PAID IN ADVANCE )4. Dairy MilkChocolate Company to Main Qualility Standards to Get Good Will From Consumers (B)A.Tangible Asset B.Intangible Asset c.Current Asset D.Current LiabilitesAnswer:-b.Intangible assetExplanation:--dairy milk chocolate company to mai quality standards to prepare dairy milkchocolate product and distrube to the consumer to get goodwill from consumer end…5.First American India Company to Provide Mortogage Loan Services (d) A.Fixed AssetsB.Current Assets C.current liabilities d.Long Term LiabilitesAnswer :-d.Long Term Liabilites Explanation :-mortoagage loan services comes from insurance sectorit treats long termLiabilites… "