Application of Computers in Accounting — Account STD 11 Commerce — Question

Ramesh has his account at Punjab National Bank, Delhi. According to his Cash Book, his bank balance on 31st March, 2019 was ₹ 72,950. He sent cheques for ₹ 90,075 to his bank for collection but cheques amounted to ₹ 43,769 were not collected by that date. Out of the cheques issued by him in payment of his debts, cheques for ₹ 29,344 were not presented for payment. Prepare Bank Reconciliation Statement.

The balance at bank in Z's Cash Book on 30th April, 2019 is ₹ 12,460 debit. However, a cheque for ₹ 14,470 received from X and a cheque for ₹ 1,740 paid to Z appear in the Cash Book, but not in the Bank Statement. Bank charges of ₹ 4,500 have not been entered in the Cash Book. What is the balance shown in the Bank Statement on 30th April, 2019?

State two points of distinction between Capital Expenditure and Revenue Expenditure.

What are the merits of Straight Line Method? (Any two)

State two points of distinction between Capital Expenditure and Revenue Expenditure.

What is meant by Marshalling of Assets and Liabilities?

Calculate the amount of gross profit and operating profit on the basis of the following balances extracted from the books of M/s Rajiv & Sons for the year ended March 31, 2017.

	₹
Opening stock	50,000
Net sales	11,00,000
Net purchases	6,00,000
Direct expenses	60,000
Administration expenses	45,000
Selling and distribution expenses	65,000
Loss due to fire	20,000
Closing stock	70,000

Why are drawings added to Closing Capital in a statement of profit or loss?

Give an example of Current Assets.

‘T' form presentation of financial statements is known as 'Horizontal form' or ‘Vertical form'?