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11th Standard English Medium Accountancy Subject Final Accounts of Sole Proprietors - II Creative 2 Mark Questions with Solution Part - II Question Bank Software Jun-29 , 2021

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11th Standard English Medium Accountancy Subject Final Accounts of Sole Proprietors - II Creative 2 Mark Questions with Solution Part - II

11th Standard English Medium Accountancy Subject Final Accounts of Sole Proprietors - II Creative 2 Mark Questions with Solution Part - II

11th Standard

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Accountancy

Time : 00:30:00 Hrs
Total Marks : 10
    5 x 2 = 10

  1. Give adjusting entry for depreciation at 10% p.a. on machinery of Rs.25,000.

  2. How will the following adjustment appear in the balance sheet as on 31-12-2010?
    Sundry Debtors Rs.21,000
    Bad debts to be written off Rs.1,000
    Provide 5% provision for bad and doubtful debts and 2% provision for discount on debtors.

  3. Goods worth Rs.3,00,000 were burnt by fire and claim of Rs.1,80,000 has been accepted by the insurance company. How It will be recorded in final accounts

  4. Accrued income is credited to the profit and loss account and shown in the balance sheet a current asset. Why

  5. If unearned income is credited to the profit and loss account would it be correct?

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