Special Purpose Books 2 Cash Book — Account STD 11 Commerce — Question

Which account is debited for creating provision for doubtful debts?

Explain how the following may be ascertained from incomplete records:
Closing balance of cash.

What do you understand by Fixed Assets?

What is Statement of Affairs?

If credit side of Profit and Loss Account is bigger than the debit side, does it mean net loss or net profit? Why?

Calculate Purchases:

	₹
Cost of Goods Sold	65,000
Stock in the beginning	4,000
Closing Stock	5,000

Goods were sold to Jogi for ₹ 4,000 and to Yogi for ₹ 3,000. The transactions were recorded properly in the Sales Book, but ₹ 3,000 was posted to Jogi, while ₹ 4,000 was posted to Yogi. Identify the type of error.

What is meant by Prepaid Expenses?

Give two characteristics of a Balance Sheet.

Name any two items that are debited to the Trading Account.