Depreciation — Account STD 11 Commerce — Question

Give two objectives of preparing a Trial Balance.

Sale is recognised on the basis of Cash Memo or Invoice.

Explain Going Concern Concept.

What is convention of full disclosure?

Name any two source documents.

Exe Co, which purchased 50 computers from HCL made payment immediately. As a result, HCL granted it a discount of ₹ 10,000. Is the discount received Trade Discount or Cash Discount? How will you record it in the books of account?

From the following information find the capital of Vijay: Total Assets 5,00,000; Creditors ₹ 1,00,000; Loan from Bank ₹ 1,50,000.

When is Capital Account debited?

What is income?

Define a Sales Book.