Financial Statements - 1 — Account STD 11 Commerce — Question

What does ‘Debit balance as per the Bank Pass Book mean?

Mr. Khanna is the owner of a Theatre. He spent ₹ 5,00,000 for increasing the seating capacity of the Theatre. Where will it be shown and why?

Name any two items that are credited to the Trading Account.

What is meant by Error of Partial Omission?

Calculate the stock at the end:

	₹
Stock in the beginning	10,000
Cash Sales	30,000
Credit Sales	20,000
Purchases	35,00
Rate of Gross Profit on Cost	1/3

Give the adjustment entry and the treatment in Final Accounts of the following:

1. Accrued Income.
2. Unearned Income.

Give examples of two types of operating systems.

Calculate credit sales from the following details:
Opening Debtors ₹ 2,30,000; Closing Debtors ₹ 3,00,000; Cash received from Debtors ₹ 7,50,000; Discount allowed to Debtors ₹ 50,000.

Why is a Compensating Error not disclosed by the Trial Balance?

What is a Cash Book?