Depreciation — Account STD 11 Commerce — Question

Is the balance of Petty Cash Book an asset or income?

Manager of a firm is entitled for a commission of 6%. The profit after the commission is ₹ 4,70,000. What is the amount of profit before commission?

How can you generate different Reports in Tally?

Calculate the amount of 'Gross Profit when net loss is ₹ 75,000, Operating Expenses are ₹ 1,20,000 and Sales are ₹ 3,00,000.

Give any two distinctions between Hardware and Software.

Manager of a firm is entitled for a commission of 6%. The profit after the commission is ₹ 4,70,000. What is the amount of profit before commission?

Sundry debtors in a Trial Balance are ₹ 90,000. Write off ₹ 5.000 as bad debts and make a Provision for Doubtful Debts @ 10% on sundry debtors. Pass necessary Journal entries.

A Bill of Exchange for ₹ 3,000 drawn on 1st June, 2018 and payable after 3 months was discounted with a bank at 10% p.a. but was dishonoured on due date and 8 were paid as noting charges. What was the amount claimed by the bank from the Drawer?

Give an example of capital expenditure treated as revenue expenditure.

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