Depreciation — Account STD 11 Commerce — Question

What is meant by ‘Accounts from Incomplete Records'?

Provision for discount on debtors is made before making provision for doubtful debts. Do you agree?

Vikas's Cash Book showed an overdrawn Cash Book balance of ₹ 20,200 on 31st March, 2019. He received a bank statement showing an overdrawn balance of ₹ 20,310 on 31st March, 2019. The reason for the difference is that bank charged ₹ 310 and allowed interest ₹ 200 has not been recorded in the Cash Book. What entries should Vikas pass to update his Cash Book?

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?

What is meant by incomplete records system of accounting?

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

Calculate the amount of 'Gross Profit when net loss is ₹ 75,000, Operating Expenses are ₹ 1,20,000 and Sales are ₹ 3,00,000.

If credit side of a Trading Account is bigger than the debit side, does it mean the enterprise has incurred loss or earned profit? Why?

What is meant by Unearned Income?

What is the necessity of doing adjustments? Give four adjustment entries with their explanations.