Financial Statements — Account STD 11 Commerce — Question

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.

Give an example of capital expenditure treated as revenue expenditure.

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 are the factors involved in providing Depreciation?

Give two examples of Direct Expenses.

Interest paid is deducted from interest earned in the Profit & Loss Account. Is it a correct treatment?

What are deferred revenue expenditures?

What is an opening entry?

What is the need for providing accrued incomes in final accounts?

What is the common objective of Single Entry System and Double Entry System?