Computerised Accounting System — Account STD 11 Commerce — Question

What is ‘Depreciable Cost'?

Ascertain the value of Opening Stock from the following:

	₹		₹
Purchase	1,20,000	Closing Stock	30,000
Sales	1,90,000	Carriage Inwards	7,000
Return Inward	10,000	Rate of Gross Profit on Sales	40%
Return Outward	4,000

Operating Profit earned by Heer Mehta in 2005-06 was ₹ 3,50,000. Its non-operating incomes were ₹ 75,000 and non operating expenses were ₹ 1,87,500. Calculate Profit earned during the year.

What journal entry will be passed for outstanding salary?

Explain the Discounting a Bill of Exchange.

Give one example of Contingent Assets.

What is meant by a Journal Proper?

Give any two elements of a Computer System.

Give any two items that are debited to Profit and Loss Account.

Name any two Application Softwares.