RECRUITMENT, SELECTION AND TRAINING — Commercial Studies STD 10 — Question

From the following balances of Mr. Kumar, prepare final accounts for the year 2023:

Debit Balance	(₹)	Credit Balance	(₹)
Salaries	400	Sales	7,819
Advertising	42	Carriage inwards	9
Postage and Telegrams	27	Capital	3,600
Bad Debts	28	Creditors	1,124
Interest	130	Loan	1,200
Discount (Dr.)	100	Debtors	388
Wages	430	Fixtures and Fittings	1,616
Opening Stock	995	Buildings	2,378
Purchases	6,200	Machinery	1,000
		Closing Stock	1,430

'Budgets are very useful in management.' Justify.

Compare and contrast the features of RTGS and NEFT.

From the following trial balance of Mr. A prepare a Trading Account and a Profit and Loss A/c for the year ending 31st Dec., 2022 and a Balance Sheet as on that date:

TRIAL BALANCE
Debit Balance	(₹)	Credit Balance	(₹)
Cash	10,000	Sales	1,80,500
Stock	40,800	Returns	195
Wages	22,525	Loan	20,000
Purchases	1,30,295	Creditors	30,305
Returns inward	2,400	Discount	530
Repairs	1,675	Capital	37,500
Bad Debts	2,310
Interest on Loan	600
Salaries	8,000
Sales Tax	800
Octroi	500
Insurance	1,000
Charity	125
Rent	2,000
Machinery	16,000
Debtors	30,000
	2,69,030		2,69,030

Stock on 31st Dec., 2022 was ₹40,925.

The following is the trial balance of Mr. R.P. Sharma for the year ended 31st December, 2022. Compile the final accounts for him, after attending to the adjustments and thereafter also submit the required information, listed by him.

	Debit (₹)	Credit (₹)
Land	1,00,000
Freehold Premises	60,000
Bills Receivable and Payable	20,000	24,000
Wages	15,000
Rejection of Goods Including Price Adjustments	2,500	3,500
Personal Accounts Resulting from Credit Sales and Purchases	31,000	15,000
Purchase and Sales Including Cash Transactions	40,500	96,000
Salaries	7,000
Insurance and Municipal Taxes	1,500
Rentals	2,000	4,500
Bad Debts	600
Carriage	3,000
Opening Stock	5,000
Commission Accounts	500	600
Vehicles	62,000
Machinery	85,000
Drawings and Capital Accounts	8,000	1,75,000
Loan from the S.F.C.		1,25,000
	4,43,600	4,43,600

Closing stock value is ₹7,500.

"Warehousing is essential in modern business." Discuss.

Explain the following principles of insurance?
(i) Doctrine of subrogation (ii) Mitigation of loss.

Explain any five objectives of industrial relations.

Trial Balance as on 31.3.2023 of Ms. Counsel.

	Debit (₹)	Credit (₹)
Purchases and Sales	2,40,000	4,15,000
Wages & Factory Supervisor's Remuneration	35,000
Building	1,80,000
Machinery & Equipment	4,75,000
Commission	2,800	1,600
Freehold Land	1,00,000
Watch Dogs Squad	30,100
Debit Notes & Credit Notes (issued in connection with goods)	10,000	15,000
Creditors & Debtors	60,000	45,000
Salaries & Staff Welfare	38,000
Bill (drawn to guarantee payment)	10,000	7,000
Building Repairs	15,000
Cash & Bank	50,000
Bonus	2,500
Discounts	3,200	14,600
Watch Dogs Upkeep Costs	6,600
Accounts of the owner	35,000	5,95,000
Interest-free Loan		1,00,000
General Reserve		1,30,000
Opening Stock	30,000
	13,23,200	13,23,200

Compile Final Accounts:
(i) Closing Stock at the cost price is ₹8,000 more than the opening stock - but the ruling market price is ₹35,000 only, on 31.3.2023.

Suggest any five ways society benefits from advertising.