Depreciation, Provisions and Reserves — Account STD 11 Commerce — Question

Ram & Co. purchased a machinery for ₹ 21,000 on 1st April, 2019. The estimated life of the machinery is 10 years, after which its residual value will be ₹ 1,000 only. Find the amount of Annual Depreciation according to the Fixed Instalment Method. Ignore GST.

Define Merchandise.

Explain the term Date of Maturity.

Explain the meaning of posting of journal entries?

Define the following basic accounting term with example:
Profit.

Cheques issued but not presented for payment are recorded or not recorded in an amended cash book? Give reason for your answer.

An old machinery was sold to Manish for ₹ 56,000. Name the book in which this entry will be recorded.

Differentiate betwen Cash Basis of accounting and Accrual Basis of accounting on the basis of timing of recording of an income.

What will be the effect on Trial Balance if a purchase return of ₹ 5,000 has been wrongly posted to the debit of Sales Return Account but correctly entered in the Customer's Account?

Who is a Debtor?