Accounts from Incomplete Records Single Entry System — Account STD 11 Commerce — Question

How are Prepaid Expenses 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.

What is the adjustment entry passed for Accrued Commission of ₹ 10,000? CGST and SGST are levied @ 9% each.

A bill of ₹ 5,000 is discounted with the bank for ₹ 4,750. The bill is dishonoured on maturity. The drawee pays 60% of his acceptance. What is the amount of Bad Debts?

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

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

Calculate Gross Profit and Cost of Goods Sold from the following information:
Net Sales ₹ 1,00,000
Gross Profit is 25% on cost.

Write Short Notes on:
Hardware.

When does closing stock appear inside the Trial Balance?

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?