Question
Write a detailed note on Transaction Processing System (TPS).
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Answer
Transaction Processing System (TPS): They are the computerised systems that perform and record the daily routine transactions which are necessary to conduct the business. TPS serve the organisation at the operational level.Process of Transaction Procesing System: As the name suggests the Transaction Processing System (TPS) processes the transactions affecting the activities of the organisation. TPS follows the six steps given below:
- Data Collection: It gathers all data needed to complete one or more transactions either manually or using devices like scanners and point-of-sale equipment
- Data Editing: It is the process of checking the data for validity and completeness.
- Data Validation: It is the process of validating the data for correctness and then correcting the same if errors are found.
- Data Munipulation: it. It is the process of performing calculations.
- Data Storage: It is the process of placing transaction data into one or more databases.
- Output Generation 6: It is the process of creating reports and outputting records.
- Query Support: It is the process of making available the mechanism that empowers the users of TPS to query upon the stored data and extract the required information in required format.
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He withdrew ₹ 300 per month for personal expenses. He sold his investment of ₹ 16,000 at 2% premium and introduced that amount into business.
| April. 01, 2016 (₹) | March. 31, 2017 (₹) | |
| Cash | 1,200 | 1,600 |
| Bills receivable | - | 2,400 |
| Debtors | 16,800 | 27,200 |
| Stock | 22,400 | 24,400 |
| Investment | - | 8,000 |
| Furniture | 7,500 | 8,000 |
| Creditors | 14,000 | 15,200 |
He withdrew ₹ 300 per month for personal expenses. He sold his investment of ₹ 16,000 at 2% premium and introduced that amount into business.
A sold goods to B on 1st September, 2018 for ₹ 16,000. B immediately accepted a 3 months bill. On the due date, B requested that the bill be renewed for a further period of 2 months. A agreed provided interest at 9% p.a. was paid immediately in cash. To this Bwas agreeable. The second bill was met on the due date. Give the Journal entries in the books of A.
Determine the missing information in the following Rectifying Journal Entries:
What is the use of Data Base Management?
Give any three points of distinction between Capital Expenditure and Revenue Expenditure.
The following information is available from Sachin, who maintains books of accounts on single entry system:
Sachin withdrew $₹\ 5,000$ from the business every month for meeting his household expenses. During the year, he sold investments held by him privately for $₹\ 35,000$ and invested the amount in his business. At the end of the year $2016-17$, it was found that full year's interest on loan from Mrs. Sachin had not been paid. Depreciation $@ 10\%$ per annum was to be provided on furniture for the full year. Shop assistant was to be given a share of $5\%$ on the profits ascertained before charging such share. Calculate profit earned during the year ended $31^{st}$ March, $2017$ by Sachin.
→Sachin withdrew $₹\ 5,000$ from the business every month for meeting his household expenses. During the year, he sold investments held by him privately for $₹\ 35,000$ and invested the amount in his business. At the end of the year $2016-17$, it was found that full year's interest on loan from Mrs. Sachin had not been paid. Depreciation $@ 10\%$ per annum was to be provided on furniture for the full year. Shop assistant was to be given a share of $5\%$ on the profits ascertained before charging such share. Calculate profit earned during the year ended $31^{st}$ March, $2017$ by Sachin.
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→During the year Mr. White sold his private car for ₹ $50,000$ and invested this amount into the business. He withdrew from the business ₹ $1,500$ per month upto $31^{st}$ October, $2015$ and thereafter ₹ $4,500$ per month as drawings. You are required to prepare a statement of profit or loss and a statement of affairs as at March $31, 2016$.
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Adjustments:
→Adjustments:
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