Question
Give any three limitations of Computer System.
✓
Answer
Limitations of a Computer System Computer does not have intelligence of its own, it cannot think or make a decision on its own. It only runs on the instructions given to it by the humanware.
The limitations of the Computer System are:
The limitations of the Computer System are:
- Operates on Pre-defined Instructions: A computer system carries out instructions as given in the program even if the instructions lack the quality of common sense. For example, if the instruction is given for the comparison of two unrelated amounts like sales with electricity expenses, the computer will not question the relationship like a human being but will carry out the instruction.
- Intelligence: A computer system does not have an intelligence of its own. It operates on the instructions which may lack this quality.
- Decision-Making: A computer system lacks the quality of decision-making also. Decision-making is a complex process which involves a number of elements and consideration for the prevailing situation. Programs can be designed for a computer to arrive at decisions. But such decisions will be procedural, without taking into consideration the prevailing situation.
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Define Single Entry System. What are the defects of this system?
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Pass Journal entries in the books of A, B and C.
From the following particulars of a trader, prepare a Bank Reconcilation Statement as on 31st March, 2019.
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- According to agreement, on 25th March, a debtor deposited directly into the bank ₹ 9,000 but the same has not been recorded in the Cash Book.
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Mohan commenced business on $1^{st}$ April, $2012$ with a capital of $₹\ 50,000.$ On $1^{st}$ January, $2013,$ he introduced $₹\ 25,000$ into business of which $₹\ 10,000$ was borrowed from Ram. His position on $31^{st$} March, $2013$ was as under:
Assets: Cash in hand $₹\ 4,000;$ Bank (Cr.) $₹\ 6,500;$ Debtors $₹\ 24,000;$ B/R $₹\ 18,600.$
Stock $₹\ 25,400$; Furniture $₹\ 15,000;$ Prepaid expenses $₹\ 1,000.$
Liabilities : Creditors $₹\ 13,500;$ B/P $₹\ 4,800;$ Ram's Loan $₹\ 10,000;$ Outstanding expenses $₹\ 700.$
Actual drawings were not known but his living expenses are $₹\ 1,000$ p.m. Depreciate furniture by $10\%.$ Interest on loan is due $@ 12\%$ p.a.
Ascertain his profit or loss for the year $2012-13$ & prepare final statement of affairs.
→Assets: Cash in hand $₹\ 4,000;$ Bank (Cr.) $₹\ 6,500;$ Debtors $₹\ 24,000;$ B/R $₹\ 18,600.$
Stock $₹\ 25,400$; Furniture $₹\ 15,000;$ Prepaid expenses $₹\ 1,000.$
Liabilities : Creditors $₹\ 13,500;$ B/P $₹\ 4,800;$ Ram's Loan $₹\ 10,000;$ Outstanding expenses $₹\ 700.$
Actual drawings were not known but his living expenses are $₹\ 1,000$ p.m. Depreciate furniture by $10\%.$ Interest on loan is due $@ 12\%$ p.a.
Ascertain his profit or loss for the year $2012-13$ & prepare final statement of affairs.
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→Mr. X withdrew ₹ $4,100$ during the year to meet his household expenses. He introduced ₹ $600$ as fresh capital. Machinery and furniture to be depreciated by $10\%$ and $5\%$ per annum respectively.
Roshan, whose accounts are maintained by Single Entry System, acquired a retail business on 1st April, 2017. He had ₹ 40,000 of his own and he borrowed ₹ 20,000 from his wife. He paid ₹ 15,000 for Goodwill, ₹ 5,000 for Furniture and ₹ 35,000 for Stock.
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Rent:
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| ₹ | |
| Purchases | 1,56,000 |
| Salary and Wages | 21,400 |
| Trade Expenses | 7,200 |
| For business premises | 5,920 |
| For private house | 2,960 |
| Payments made for domestic purposes and drawings | 26,400 |
Prepare the Cash Account, the Profit and Loss Account for the year ended 31st March, 2018 and the Balance Sheet at the close of the year.
Give the names of different accounting packages.
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Fixed assets are to be depreciated $@ 10\%$ p.a.
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Fixed assets are to be depreciated $@ 10\%$ p.a.
What considerations should be borne in mind for Designing Accounting Reports.