Question
Ascertain Gross Profit from the following:
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Answer
Note: Carriage on Sales and Office Rent are the Indirect Expenses, therefore, these are not considered to compute the amount of Gross Profit.Need a full question paper?
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Prepare a Trial Balance with the following information:
Note: For Delhi 2011, figures given above have been reduced to half, hence the total of the Trial Balance will be ₹ 3,75,000, in that situation.
Note: For Delhi 2011, figures given above have been reduced to half, hence the total of the Trial Balance will be ₹ 3,75,000, in that situation.
Write short note on the following:
Customised Accounting Software.
Customised Accounting Software.
What do you understand by saving a report as snapshot?
On 1st January, 2019, A draws a bill on B for ₹ 1,000 payable after 3 months. Immediately after its acceptance, A sends the bill to his bank for collection. On the due date, the bill was dishonoured. Record the transactions in the Journals of A and B.
Record the following transactions in the Purchases Return Book of Kamla Stores, Delhi for April, 2019:
| 2019 | |
| April 6 | Returned goods to Ramesh Brothers, Delhi purchased for ₹ 5,000 plus CGST and SGST @ 6% each |
| April 8 | Returned goods to Sohan Brothers, Meerut purchased for ₹ 10,000 plus IGST @ 12% |
| April 17 | Returned goods to Mahesh Brothers of ₹ 2,000 plus CGST and SGST @ 6% each |
State what do you understand by accounting reports.
How will be the following errors rectified?
- Purchases Book is overcasted by ₹ 10,000.
- Purchases Return Book is overcasted by ₹ 1,000.
- Purchases Return Book’s balance is carried forward in excess by ₹ 100.
- Purchases Book’s balance is carried forward in excess by ₹ 1,000.
With the help of an example, briefly state the meaning of parameter queries.
From the following information, prepare Trading Account for the year ended $31^{st}$ March, $2019$:
Net Realisable Value (Market Value) of stock as on $31^{st}$ March, $2019$ was $₹ 1,20,000$.
[Hint: Closing Stock is shown at Net Realisable Value, i.e., Market Value $(₹ 1,20,000)$ since Market Value is less the Cost of Stock.]
→Net Realisable Value (Market Value) of stock as on $31^{st}$ March, $2019$ was $₹ 1,20,000$.
[Hint: Closing Stock is shown at Net Realisable Value, i.e., Market Value $(₹ 1,20,000)$ since Market Value is less the Cost of Stock.]
From the following information, prepare the bills receivable account and total debtors account for the year ended March 31, 2017.
| ₹ | |
| Opening balance of debtors. | 1,80,000 |
| Opening balance of bills receivable. | 55,000 |
| Cash sales made during the year. | 95,000 |
| Credit sales made during the year. | 14,50,000 |
| Return inwards. | 78,000 |
| Cash received from debtors. | 10,25,000 |
| Discount allowed to debtors. | 55,000 |
| Bills receivable endorsed to creditors. | 60,000 |
| Cash received (bills matured). | 80,500 |
| Irrecoverable amount. | 10,000 |
| Closing balance of bills receivable on March 31, 2017. | 75,500 |