Accounts from Incomplete Records — Account STD 11 Commerce — Question

Give two purposes of Accounting Information System.

Why is Trading Account prepared?
OR
What do we come to know by preparing the Trading Account?

Give any two examples of Capital Expenditure.

What is Gross Profit?

It is possible to prepare a trial balance and check the arithmetical accuracy of books of accounts under single entry system?

Wages paid to a worker for making additions to machinery amounting to 5,000 were debited to the Wages Account. Identify the type of error.

Refusal by the acceptor to pay the bill on the maturity date is called Retirement of the Bill. Comment.

Name two types of Petty Cash Book.

State one importance of Trial Balance.

Arun is a trader. While preparing his final accounts on 31st March. 2018, he made a provision for doubtful debts @ 4% of the sundry debtors amounting to ₹ 42,000. During the year ended 31st March, 2019, doubtful debts amounted to ₹ 3,400. On 31st March, 2019, sundry debtors were ₹ 56,500 and the provision for doubtful debts was maintained at the same rate.
Show the entries to record the above matters in Arun's Ledger Accounts.