FINAL ACCOUNTS OF SOLE PROPRIETORSHIP — Commercial Studies STD 10 — Question

Explain the major factors that you would take into consideration in allocation expenditure between capital and revenue.

Give any five points of difference between stakeholders and customers of a company.

From the following balances of Mr. Kumar, prepare final accounts for the year 2023:

Debit Balance	(₹)	Credit Balance	(₹)
Salaries	400	Sales	7,819
Advertising	42	Carriage inwards	9
Postage and Telegrams	27	Capital	3,600
Bad Debts	28	Creditors	1,124
Interest	130	Loan	1,200
Discount (Dr.)	100	Debtors	388
Wages	430	Fixtures and Fittings	1,616
Opening Stock	995	Buildings	2,378
Purchases	6,200	Machinery	1,000
		Closing Stock	1,430

Explain the various steps involved in the preparation of a training programme for office staff.

Explain the advantages and limitations of water transport.

From the following Trail Balance of A.B. Chandra as on 31st December, 2019.

TRIAL BALANCE of A.B. Chandra As on 31.12.2019
Particulars	Amount (Dr.)	Particulars	Amount (Cr.)
Cash in Hand	2,000	Discount Received	750
Drawings	2,800	Capital	40,000
Opening Stock (01/01/2018)	4,000	Purchases Returns	1,250
Wages	2,000	Sales	83,000
Cash at Bank	3,500	Creditors	15,000
Insurance	700	Bank Loan	10,000
Trade Expenses	1,200
Furniture	20,000
Buildings	61,000
Salaries	5,000
Discount Allowed	750
Sales Returns	3,000
Purchases	31,250
Debtors	10,000
Telephone Charges	1,000
Bills Receivable	1,800
	1,50,000		1,50,000

The closing stock was valued at 12,000.
You are required to prepare a Trading Account and a Profit and Loss Account for the year ending 31st December 2019 and a Balance Sheet as on 31st December, 2019.

Discuss the advantages and disadvantages of e-marketing.

Explain any five features of Environment Protection Act.

What is insurable interest? Is it necessary in all contracts of insurance?

Explain the following principles of insurance.
(i) Utmost good faith (Uberrimae fidei) (ii) Doctrine of Subrogation