Special Purpose Books 1 Cash Book — Account STD 11 Commerce — Question

What is meant by Unearned Income?

Provision for discount on debtors is made before making provision for doubtful debts. Do you agree?

On 31st March, 2019, a firm's debtors were ₹ 63,000 and its provision for Doubtful Debts was ₹ 3,200. It was decided to write off as irrecoverable debts of ₹ 2,600 and provide for Doubtful Debts @ 5% on Debtors.
Prepare Provision for Doubtful Debts Account and pass the entries in the Profit and Loss Account, and the entry for debtors in the Balance Sheet as at 31st March, 2019.

What is Management Information System?

Draw block diagram showing the main components of a computer.

What is meant by Straight Line Method of providing Depreciation?

On 1st April, 2015, Grand Ltd. purchased a machinery for ₹ 3,00,000 and incurred ₹ 21,000 towards freight and insurance, ₹ 3,000 towards carriage inwards and ₹ 6,000 towards installation charges. It has estimated that the machinery will have a scrap value of ₹ 30,000 at the end of the useful life which is four years. What will be the annual depreciation and the value of machinery after four years according to the Straight Line Method? Ignore GST.

Calculate closing capital:
Opening capital ₹ 70,000: Profit for the year ₹ 20,000: Drawings ₹ 7.000. During the year proprietor sold ornaments of his wife for ₹ 20,000 and invested the same in business.

What will be the effect of overstatement of closing stock on Gross Profit?

What is Profit and Loss Account?