Adjustments in Preparation of Financial Statements — Account STD 11 Commerce — Question

What is meant by a Sales Return Book?

Give two examples of each of Fixed Assets and Current Assets.

What is meant by Asset Disposal Account?

The balance at bank in Z's Cash Book on 30th April, 2019 is ₹ 12,460 debit. However, a cheque for ₹ 14,470 received from X and a cheque for ₹ 1,740 paid to Z appear in the Cash Book, but not in the Bank Statement. Bank charges of ₹ 4,500 have not been entered in the Cash Book. What is the balance shown in the Bank Statement on 30th April, 2019?

If both Adjusted Purchases and Closing Stock are given in the Trial Balance, where are the two accounts shown in the Final Accounts?

Following are the Extracts of Trial Balance:

Sundry Debtors (including a B/R for ₹ 5,000 received from Giriraj)
Bad Debts	1,20,000
Provision for Doubtful Debts	3,000	1,800

Giriraj became insolvent and only 40% could be realised from his estate. You are required to make a provision of 5% for doubtful debts. What will be the annount of provision?

Name any two Application Softwares.

Ramesh has his account at Punjab National Bank, Delhi. According to his Cash Book, his bank balance on 31st March, 2019 was ₹ 72,950. He sent cheques for ₹ 90,075 to his bank for collection but cheques amounted to ₹ 43,769 were not collected by that date. Out of the cheques issued by him in payment of his debts, cheques for ₹ 29,344 were not presented for payment. Prepare Bank Reconciliation Statement.

Give any two elements of a Computer System.

Why is Trading Account prepared?
OR
What do we come to know by preparing the Trading Account?