Question
What do you mean by a Computer?
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Answer
“A computer is a data processor that can perform substantial computations, including numerous arithmetic and logic operations, without intervention of human operator during the run." -International Standards Organisation
We can also define a computer as an electronic digital machine that acts as per the set of instructions (called program or software) and is used for processing.
We can also define a computer as an electronic digital machine that acts as per the set of instructions (called program or software) and is used for processing.
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A merchant has earned a Net Profit of ₹ 57,200 for the year ended 31st March, 2017. Other balances in his Ledger are as under:
Prepare his Balance Sheet as at 31st March, 2017.
Prepare his Balance Sheet as at 31st March, 2017.In the following Bank Reconciliation Statement. determine the missing amount:
Distinguish between Bills of Exchange and Promissory Note on the following basis:
- Order or Promise and Parties.
- Acceptance.
- Payee.
- Noting.
Mr. Girdhari Lal does not keep full double entry records. His balance as on April 01, 2016 is as.
His position at the end of the year is:
He withdrew ₹ 500 per month out of which to spent ₹ 1,500 for business purpose. Prepare the statement of profit or loss.
His position at the end of the year is:
| ₹ | |
| Cash in hand | 7000 |
| Stock | 8,600 |
| Debtors | 23,800 |
| Furniture | 15,000 |
| Plant | 20,350 |
| Bills payable | 20,200 |
| Creditors | 15,000 |
The following transactions took place during the week ended 28th May, 2019. How will you record them in the Petty Cash Book which was maintained with a weekly 'float' of ₹ 3,000?
| 2019 | ₹ | |
| May 23 | Postage | 400 |
| May 24 | Casual labour | 500 |
| May 24 | Taxi hire | 600 |
| May 26 | Note pads and registers | 800 |
| May 27 | Cartage | 200 |
| May 28 | Bus fare | 300 |
Extract of a Trial Balance as at March 31, 2017 is as follows:
Additional information: A debtor of ₹ 2,000 could not be recovered. It is decided to maintain Provision for Doubtful Debtors @ 5% on Debtors and Provision for Discount at @ 2%. How these adjustments will be shown in Financial Statements?
|
Sundry Debtors
|
₹ 1,02,000
|
|
Bad Debts
|
₹ 1,400
|
|
Provision for doubtful debts
|
₹ 3,400
|
In the following Trading and Profit and Loss Account for the ended 31st March, 2019 and Balance Sheet as on that date, determine the missing information:
Suchitra started a business on $1^{st}$ April, $2013$ with a Capital of ₹ $50,00,000$. On $31^{st}$ March, $2014$ her total Assets were ₹ $60,00,000$ and Creditors were $3,00,000$. She withdrew during the year for her personal expenses ₹ $10,000$ per month upto $30^{th}$ June, $2013$ and thereafter ₹ $15,000$ per month upto $31^{st}$ March, $2014$. During the year she sold her personal investments of ₹ $80,000$ at $5\%$ loss and introduced that amount in the business.
You are required to prepare a Statement of Profit or Loss for the year ending $31^{st}$ March, $2014$.
→You are required to prepare a Statement of Profit or Loss for the year ending $31^{st}$ March, $2014$.