Accounts from Incomplete Records — Account STD 11 Commerce — Question

“Cash Book always shows a debit balance.” How far is this statement true and why?

Land is a depreciable asset. Comment.

Give any two examples of Capital Expenditure.

The following information of an accounting year is given: Opening Capital ₹ 60,000: Drawings ₹ 5,000; Capital introduced during the year ₹ 10,000 and Closing Capital ₹ 90,000. Calculate Profit or Loss for the year.

Mention any one difference between fixed asset and current asset.

What is a Balance Sheet?

What treatment is made of prepaid expenses while preparing final accounts?

On 31st March, 2019, a firm's debtors were ₹ 63,000 and its provision for Doubtful Debts was ₹ 3,200. It was decided to write off as irrecoverable debts of ₹ 2,600 and provide for Doubtful Debts @ 5% on Debtors.
Prepare Provision for Doubtful Debts Account and pass the entries in the Profit and Loss Account, and the entry for debtors in the Balance Sheet as at 31st March, 2019.

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

By providing for discount on debtors, which accounting concept is followed?