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11th Standard English Medium Accountancy Subject Final Accounts of Sole Proprietors - II Book Back 3 Mark Questions with Solution Part - II

11th Standard

    Reg.No. :
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Accountancy

Time : 00:30:00 Hrs
Total Marks : 15

    Part I

    5 x 3 = 15
  1. Show necessary entries to adjust the following on 31st December, 2017.
    (i) Outstanding salaries Rs. 1,200
    (ii) Outstanding rent Rs. 300
    (iii) Prepaid insurance premium Rs. 450
    (iv) Interest on investments accrued Rs. 400
    (v) Bad debts written off Rs. 200

  2. Sundry debtors as per trial balance as on 31st March, 2016 is Rs. 10,000.
    Adjustment: Write off bad debts amounting to Rs. 300.
    Give adjusting entry and show how these appear in the final accounts as on 31st March, 2016.

  3. What is the need for preparing final accounts?

  4. Explain how closing stock is treated in final accounts.

  5. Explain the accounting treatment of bad debts, provision for doubtful debts and provision for discount on debtors.

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