(i) The income which has been earned during the current accounting year but not received till the end of that accounting year is called as accrued income.
(ii) It generally happens in case of amount to be received on account of commission, interest, dividend, etc

Examples of Readymade software:
(i) TALLY
(ii) MS-EXCEL

\( \text { Amount of depreciation per year } =\frac{\text { Original cost of the asset }-\text { Estimated scrap value }}{\text { Estimated useful life of the asset in years }} \)
\(={10,000-2,000\over 10}={8,000\over 10}\) = Rs.800 per year
Rate of depreciation = \({Amount\ of\ depreciation\ per\ year\over Original\ cost}\times100\)
\(={800\over 10,000}\times100=8\%\)

Rectification of Errors S.No. Particulars   L.F. Debit Rs Credit Rs (a) Suspense A/c Dr.   10,000        To Purchases A/c       10,000   (Excess overcast in Purchases book now rectified)         (b) Furntiure repairs A/c  Dr.   500        To Furntiure A/c       500   (Being correcting of wrong debit to furniture account for repairs made)         (c) Suspense A/c Dr.   1,110        To Akilnilavan A/c       1,110   (Being credit sale to Akilnilavan was credited to his account as Rs 654 now rectified)        

i) Direct expenses:
(a) Carriage inwards or Freight inwards
(b) Wages
ii) Direct expenses :
(a) Office expenses.
(b) Administration expenses
(c) Selling expenses

i) Capital expenditure
ii) Revenue receipt
iii) Capital expenditure
iv) Capital receipt.

(a) No
(b) No
(c) No
(d) No
(e) Yes

Journal Proper is a residuary book which contains record of transactions which do not find a place in the subsidiary books such as cash book, purchases book, sales book, purchases returns book, sales returns book, bills receivable book and bills payable book.

(i) Cash book is the book in which only cash transactions are recorded. Cash receipts are recorded in the debit side while cash payments are recorded in the credit side.
(ii) The cash book is the book of original entry or prime entry.

(i) Carriage outwards - Debit
(ii) Carriage inwards -  Debit
(iii) Sales - Credit
(iv) purchases - Debit
(v) Bad debts - Debit
(vi) interest paid - Debit
(vii) Interest received - Credit
(viii) Discount received - Credit
(ix) capital - credit
(x) Drawings - Debit
(xi) sales returns - Debit
(xii) purchase returns - credit