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Sample Question PaperACCOUNTANCY

Time : 2½ hours

Written Exam Marks : 90 Marks

We have prepared and given here Sample Paper for Practice only.

[187]

Kind Attention to the Students � From this year onwards, blue print system has been abolished.

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� Approximately 20% of the questions will be asked from IN-TEXT portions.

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11thSTD.

Time : 2.30 Hours ACCOUNTANCY Marks : 90

Sura’S Sample QueStion paper

PART - IAnswer all the questions.

Choose the correct answer. 20 × 1 = 20

1. Therootoffinancialaccountingsystemis__________.

(a) Socialaccounting (b) Stewardshipaccounting

(c) Managementaccounting (d) Responsibilityaccounting

2. Prepaidrentisa__________.

(a) NominalA/c (b) PersonalA/c

(c) RealA/c (d) RepresentativepersonalA/c

3. Whichofthefollowingstatementsisnottrue?

(a) Cashdiscountisrecordedinthebooksofaccounts

(b) Assetspurchasedoncreditarerecordedinjournalproper

(c) Tradediscountisrecordedinthebooksofaccounts

(d) 3gracedaysareaddedwhiledeterminingtheduedateofthebill

4. Theprofounderofdoubleentrysystemofbook-keepingis

(a) J.R.Batlibai (b) LucaPacioli

(c) OldKesal (d) Menhar

5. LandandBuilding` 6,00,000.Depreciation isprovidedat10%.Thevalueof landandBuildingwillbe

__________.

(a) `6,60,000 (b) ` 5,40,000

(c) `60,000 (d) ` 3,30,000

6. Afterthepreparationofledger,thenextstepisthepreparationof__________.

(a) Tradingaccount (b) Trialbalance

(c) Journal (d) Profitandlossaccount

[ 188 ]

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+1 Std - Accountancy Sura’s Sample QueStion paper 189

7. Cashbookisa__________.

(a) Subsidiarybook (b) Principalbook

(c) Journalproper (d) Bothsubsidiarybookandprincipalbook

8. Cashreceivedfromsaleoffixedassetiscreditedto__________.

(a) Profitandlossaccount (b) Fixedassetaccount

(c) Depreciationaccount (d) Bankaccount

9. Goodwillisclassifiedas__________.

(a) Acurrentasset (b) Aliquidasset

(c) Atangibleasset (d) Anintangibleasset

10. Abankreconciliationstatementispreparedwiththehelpof__________.

(a) Bankstatement (b) Cashbook

(c) Bankstatementandbankcolumnofthecashbook (d) Pettycashbook

11. __________istheinterfacebetweentheuserandthecomputersystem.

(a) Systemsoftware (b) Applicationsoftware

(c) Operatingsystem (d) Connectivitysoftware

12. Revenueexpenditureisintendedtobenefit__________.

(a) Pastperiod (b) Futureperiod

(c) Currentperiod (d) Anyperiod

13. Intriplecolumncashbook,cashwithdrawnfrombankforofficeusewillappearin__________.

(a) debitsideofthecashbookonly (b) bothsidesofthecashbook

(c) creditsideofthecashbookonly (d) debitsideofthepassbookonly

14. AcreditpurchaseoffurniturefromAthiyamanwasdebitedtopurchasesaccount.Whichofthefollowingaccounts

shouldbedebitedwhilerectifyingthiserror?

(a) Purchasesaccount (b) Athiyamanaccount

(c) Furnitureaccount (d) Noneofthese

15. Theliabilitiesofabusinessare 30,000,theCapitaloftheproprietoris 70,000.Thetotalassetsare__________.

(a) `70,000 (b) ` 1,00,000

(c) `40,000 (d) ` 50,000

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190 +1 Std - Accountancy Sura’s Sample QueStion paper

16. Theprocessoftransferringthedebitandcredititemsfromjournaltoledgeraccountsiscalled__________.

(a) Casting (b) Posting

(c) Journalising (d) Balancing

17. Aprepaymentofinsurancepremiumwillappearin__________.

(a) Thetradingaccountonthedebitside

(b) Theprofitandlossaccountonthecreditside

(c) Thebalancesheetontheassetsside

(d) Thebalancesheetontheliabilitiesside

18. Anexampleofoutputdeviceis__________.

(a) Mouse (b) Printer

(c) Scanner (d) Keyboard

19. Suspenseaccountinthetrialbalanceisenteredinthe__________.

(a) TradingAccount (b) ProfitandLossA/c

(c) BalanceSheet (d) Noneofthese

20. Accountingcyclebeginswithrecordingofbusinesstransactionsandendswiththepreparationof__________.

(a) Finalaccounts (b) Costaccounts

(c) Financialaccounts (d) Managementaccounts

PART - II

Answer any seven questions in which question No.21 is compulsory. 7 × 2 = 14

21. Nameanytwobasesofrecordingaccountinginformation.

22. Writeanyonetransactionwhich: a)Decreasestheassetsanddecreasestheliabilities

b)Increasesoneassetanddecreasesanotherasset

23. Whatisanopeningentry?

24. Findouttheamountofsalesfromthefollowinginformation:

Particulars ` Particulars `

Openingstock 30,000 Closingstock 20,000

Purchaseslessreturns 2,00,000 Grossprofitmargin(onsales) 30%

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25. PrepareFurnitureA/cfromthefollowingtransactions

2016Jan. `

1 Furnitureinhand 2,000

1 Purchasedfurnitureforcash 4,000

30 Soldfurniture 400

26. Whatisprepaidexpense?

27. Whatiscashdiscount?

28. Whatissuspenseaccount?

29. FromthefollowingparticularsprepareabankreconciliationstatementofJayakumarason31st December,

2016.

(a) Balanceaspercashbook` 7,130

(b) Chequedepositedbutnotcleared` 1,000

(c) Acustomerhasdeposited`800intothebankdirectly

30. Rectifythefollowingerrorsdiscoveredbeforethepreparationofthetrialbalance:

(a) Salesbookwasundercastby` 100

(b) Purchasesreturnsbookwasovercastby` 200

PART - III

Answer any seven questions in which question No.31 is compulsory. 7 × 3 = 21

31. “Businessunitslastindefinitely”.Mentionandexplaintheconceptonwhichthestatementisbased.

32. RadhikaTradersstartedBusinesswiththefollowingon1stApril2017.

Assets:Cash` 8,000;Bank` 7,000;Stock` 30,000;Debtors` 40,000;

(Mono` 25,000andSuman` 15,000)Furniture` 5,000andBuilding` 25,000

Liabilities:Creditors` 18,000(Suresh` 10,000andRamesh` 8,000)PasstheJournalEntry.

33. Statewhetherthefollowingexpendituresarecapital,revenueordeferredrevenue.

i) Advertisingexpenditure,thebenefitsofwhichwilllastforthreeyears.

ii) Registrationfeespaidatthetimeofregistrationofabuilding.

iii) Expenditureincurredonrepairsandwhitewashingatthetimeofpurchaseofanoldbuildinginordertomake

itusable.

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34. EnterthefollowingtransactionsinthePurchasesbookofM/s.SubhashreeElectricCo.,whichdealsinelectric

goods.

2017April5 PurchasedfromKarthikElectricCo.,oncredit

10Electricironbox@` 2,500each

5electricstoves@`2,000each

April19 PurchasedoncreditfromKhaitanElectricCo.,

3electricheaters@`6,000each

April25 PurchasedfromPolarElectricCo.,oncredit

10Fans@`2,000each

April29 PurchasedfromM&Co.forcash

10electricstoves@`3,000each

35. JournalisethefollowingtransactionsandpostthemtoLedger.

2016Jan. `

1 Startedbusinesswithcash 10,000

5 Paidintobank 5,000

7 PurchasedgoodsfromRamforcash 1,000

36. Aboilerwaspurchasedon1stJanuary2015fromabroadfor 10,000.Shippingandforwardingchargesamounted

to ` 2,000.Importduty` 7,000andexpensesofinstallationamountedto`1,000.Calculatedepreciationforthe

first3years@10%p.a.ondiminishingbalancemethodassumingthattheaccountsareclosed31stDecembereach

year.

37. EnterthefollowingtransactionsinasinglecolumncashbookofPandeeswariforthemonthofJune,2017.

`June 2 Startedbusinesswithcash 50,000

8 Paidrentincash 4,00010 Purchasedprinterforcash 7,50011 Cashpurchases 15,00014 Cashsales 10,00017 Commissionreceivedincash 6,00019 Interestpaidforloanincash 2,00020 Cashwithdrawnforpersonaluse 3,00021 Paidspeedpostchargesincash 3,500

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38. OnpreparingfinalaccountsofSuresh,baddebtaccounthasabalanceof`800andsundrydebtorsaccounthasa

balanceof`16,000ofwhich`1,200istobewrittenoffasfurtherbaddebts.Passadjustingentryforbaddebts.

Andalsoshowhowitwouldappearinprofitandlossaccountandbalancesheet.

39. PreparethetrialbalancefromthefollowingbalancesofChandramohanason31stMarch,2017.

` `CapitalDrawingsLoanborrowedSalesPurchases

1,24,5002,0007,000

53,40040,000

BankoverdraftMotorcarGeneralexpensesBuildingStock

5,80020,0002,500

1,10,00016,200

40. Statetherelationshipbetweeninformationanddecision.

PART - IV

Answer all the questions. (7 × 5 = 35)

41. a) Maryisacementdealerhavingbusinessformorethan5years.PassjournalentriesinherbooksfortheperiodofMarch,2018.March ` 1 CementbagsboughtoncreditformSibi 20,000 2 Electricitychargespaidthroughnetbanking 500 3 ReturnedgoodsboughtformSibi 5,000 4 Cementbagstakenforpersonaluse 1,000 5 Advertisementexpensespaid 2,000 6 GoodssoldtoMano 20,000 7 GoodsreturnedbyMano 5,000 8 PaymentreceivedfromManothroughNEFT

(or) b) FromthefollowingbalancesextractedfromthebooksofRajeshwariason31stMarch,2017,preparethe

trialbalance.

` `

CashatbankSundrydebtorsFurnitureandFixturesOfficeequipmentAdjustedpurchasesSalesreturnsClosingstockSales

28,00059,600

1,72,0001,10,0002,80,000

3,00015,000

2,36,000

RentandratesBankchargesBaddebtsDrawingsInsurancePremiumCapitalSundrycreditorsLoan(Cr.)

4,000400

4,00020,0004,000

3,00,00064,000

1,00,000

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42. a) FromtheTrialbalance,givenbySaif,preparefinalaccountsfortheyearended31stMarch,2018inhisbooks.

DebitBalances ` CreditBalances `

Land 40,000 Purchasesreturns 15,000Openingstock 40,000 Billpayable 7,000Machinery 66,000 Capital 1,50,000Purchases 1,30,000 Sales 2,20,000Wages 35,000 Creditors 60,000Interestpaid 13,000Cash 2,300Debtors 80,000Billreceivable 15,000Officerentpaid 12,700Furniture 3,000Drawings 5,000Salesreturns 10,000

4,52,000 4,52,000

Closingstock(31.12.2017)` 14,500

(or)

b) RecordthefollowingtransactionsinthesalesbookandsalesreturnsbookofM/s.Ponni&Co.,andpostthemtoledger.

2017Aug1 SoldgoodstoSenthilasperInvoiceNo.68for`20,500oncredit

Aug4 SoldgoodstoMadhavanasperInvoiceNo.74for`12,800oncredit

Aug7 SoldgoodstoKanagasabaiasperInvoiceNo.78for`7,500oncredit

Aug15 ReturnsinwardbySenthilasperCreditNoteno.7for`1,500forwhichcashisnotpaid

Aug20 SoldgoodstoSelvamfor`13,300forcash

Aug25 Salesreturnsof`1,800byMadhavanasperCreditNoteNo.11forwhichcashisnotpaid

43. a) Showthedirectledgerpostingsforthefollowingtransactions:2017June 1 Rajacommencedbusinesswithcash` 50,000 6 Soldgoodsforcash` 8,000 8 SoldgoodstoDevioncredit` 9,000 15 Goodspurchasedforcash` 4,000 20 GoodspurchasedfromShanthioncredit` 5,000

(or)

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b) EnterthefollowingtransactionsofFathimainthecashbookwithcash,bankanddiscountcolumnsforthemonthofMay,2017.

`

2017 May 1 Cashbalance 17,200Bankbalance 43,000

4 ReceivedfromRajkumarbychequeonaccount 6,500 9 SoldgoodstoKumarforcash 12,000 15 BoughtlaptopforbusinessuseandpaymentmadethroughNEFT 21,000 17 WithdrawncashfromBank 9,600 24 Goodspurchasedforcash`12,400andbycheque 18,200

25 Depositedcashwithbank 14,000 28 Paidstaffsalariesbycheque 8,000 29 Dividendreceivedincash 4,700 30 Paidofficerentincash 12,000

44. a) RagulpurchasedmachineryonApril1,2014for`2,00,000.On1stOctober2015,anewmachinecosting ` 1,20,000waspurchased.On30th September 2016, themachinerypurchasedonApril 1, 2014was soldfor `1,20,000.Booksofaccountsareclosedon31stMarchanddepreciationistobeprovidedat10%p.a.on straight linemethod. Preparemachinery account and depreciation account for the years 2014-15 to 2016-17.

(or) b) Prepareanalyticalpettycashbookfromthefollowingparticularsunderimprestsystem:

`

2017 July 1 Receivedadvanceformcashier 2,000

7 Paidforwritingpadsandregisters 100

8 Purchasedwhitepapers 50

10 Paidautocharges 200

15 Paidwages 300

18 Postalcharges 100

21 PurchasedStationery 450

23 Teaexpenses 60

25 Paidforspeedpost 150

27 Refreshmentexpenses 250

31 Paidforcarriage 150

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45. a) Preparebankreconciliationstatementason31stMarch,2017fromthefollowingextractsofcashbookandbankstatement.

Dr. Cash Book [Ban column only] Cr.

Date ParticularsAmount

`Date Particulars

Amount`

2017 Mar 1 To Balance b/d 9,000 2017 Mar 4 By Drawings 1,7003 To Ram 2,200 8 By Sumi 3,3009 To Prem 1,500 12 By Salary 2,800

16 To Pavithra 3,400 16 By Kayal 1,70023 To Devi 2,600 18 By Pooja 4,20027 To Mani 1,100 26 By Sam 2,00030 To Shankar 350 28 By Raheem 1,100

30 By Rent 1,10030 By Balance c/d 2,250

20,150 20,150

Bank Statement

Date ParticularsDr.

Withdrawals`

Cr. Deposits

`

BalanceDr. / Cr.

`

2017 Mar 1 By balance b/d 9,000 Cr.

To cheque-Drawings 700 8,300 Cr.

5 By cheque - Ram 2,200 10,500 Cr.

9 To cheque - Sumi 3,300 7,200 Cr.

11 By cheque - Prem 1,500 8,700 Cr.

12 To cheque - Salary 2,800 5,900 Cr.

17 To cheque - Kayal 1,700 4,200 Cr.

20 By cheque - Devi 2,600 6,800 Cr.

30 By Interest received 900 7,700 Cr.

30 To bank charges 15 7,685 Cr.

(or)

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b) Createanaccountingequationonthebasisofthefollowingtransactions:

(i) Rakeshstartedbusinesswithacapitalof` 1,50,000

(ii) Depositedmoneywiththebank` 80,000

(iii) PurchasedgoodsfromMaheshandpaidthroughcreditcard` 25,000

(iv) Soldgoods(costing`10,000)toMohanfor`14,000whopaysthroughdebitcard

(v) Commissionreceivedbychequeanddepositedthesameinthebank` 2,000

(vi) PaidofficerentthroughECS` 6,000

(vii) SoldgoodstoRamanfor`15,000ofwhich`5,000wasreceivedatonce

46. a) ABookkeeperfoundhistrialbalancenotbalancedplacedthedifferenceamountinthesuspenseaccountandsubsequentlyfoundthefollowingerrors:(a) Salesbookwasovercastby` 1,500.

(b) ` 2,900receivedfromVani in full settlementofhisaccountof` 3,000wasposted incashbookbutomittedtobeenteredinheraccount.

(c) Thetotalofthesalesbook` 12,000wasdebitedtosalesreturnsaccount.

(d) ` 1,000receivedasinterestwascreditedtointerestaccountas` 100.

(or)

b) WritethefollowingtransactionsinpropersubsidiarybooksofMr.Rajasekaran.

2014 May10 PurchasedgoodsfromRaman` 15,000.

May14 ReturnedgoodstoRaman` 500.

May18 PurchasedgoodsfromSekaran` 10,000.

May20 Pradeepsoldgoodstous` 20,000.

May24 SentaDebitnotetoSekaranforgoodsdamagedintransit` 1,000.

47. a) FromthefollowingtrialbalanceofRameshason31stMarch,2017,preparethetradingandprofitandlossaccountandthebalancesheetasonthatdate.

Particulars Debit`

Credit`

Stock(01.04.2016) 40,000Purchases 85,000Sales 1,90,000Sundrycreditors 48,000Furnitureandfixtures 65,000Debtors 45,000Cashatbank 21,000

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Wages 37,500Drawings 15,000Telephonecharges 3,000Baddebts 2,000Provisionforbaddebts 2,500Discountreceived 3,000Capital 85,000Advertising 15,000

3,28,500 3,28,500

Adjustments:(a) Closingstockwasvaluedat` 35,000(b) Unexpiredadvertising` 250(c) Provisionforbadanddoubtfuldebtsistobeincreasedto` 3,000(d) Provide2%fordiscountondebtors.

(or) b) Balanwhohasacardrivingschoolgivesyouthefollowingledgerbalances.Preparetrialbalanceason

31st December,2016.

` `

ComputerSalariestodriversTaxesandinsuranceFuelandPowerRentandrates

26,0004,000

16,5002,0001,500

FreeholdlandBankloanFeesreceivedCapitalAdvertisement

30,00015,00018,15053,8507,000

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ANSWERS

PART - I

1. (b) Stewardshipaccounting2. (d) RepresentativepersonalA/c3. (c) Tradediscountisrecordedinthebooksofaccounts4. (b) LucaPacioli5. (b) ` 5,40,0006. (b) Trialbalance7. (d) Bothsubsidiarybookandprincipalbook8. (b) Fixedassetaccount9. (d) Anintangibleasset10. (c) Bankstatementandbankcolumnofthecashbook11. (c) Operatingsystem12. (c) Currentperiod13. (b) bothsidesofthecashbook14. (c) Furnitureaccount15. (b) ` 1,00,00016. (b) Posting17. (c) Thebalancesheetontheassetsside18. (b) Printer19. (c) BalanceSheet20. (a) Finalaccounts

PART - II21. Therearethreebasesofaccountingincommonusage,namely

(i) CashBasis

(ii) Accrualormercantilebasis

(iii) Mixedorhybridbasis

22. (a) Cashwithdrawnbyproprietor-DecreaseinCashanddecreaseincapital.

(b) Purchaseoffurnitureforcash-Increaseinfurnitureanddecreaseincash.

23. (i) Attheendoftheaccountingyear,allnominalaccountsareclosedbutthebusinesshastobecarriedonwithpreviousyear’sassetsandliabilities.

(ii) Journalentrymadeinthebeginningofthecurrentyearwiththebalancesofassetsandliabilitiesofthepreviousyearisopeningjournalentry.

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24. Costofgoodssold = Openingstock+Netpurchases+Directexpenses–Closingstock

= 30,000+2,00,000–20,000

= ` 2,10,000

Letthesalesbe 100

Less :Grossprofit(30%onsales,i.e.,100) 30

Costofgoodssold 70

Therefore,GrossprofitonCostofgoodssoldis3070

×2,10,000=` 90,000

Sales = Costofgoodssold+Grossprofit

= ` 2,10,000+90,000=3,00,000

25. Dr. Furniture Account Cr.

Date Particulars J.F. Amount`


2016Jan1 ToCashA/c 2,000 2016Jan30 ByCashA/c 400

11 ToCashA/c 4,000 31 ByBalancec/d 5,600

6,000 6,000

2016Feb1 ToBalanceb/d 5,600

26. (i) Prepaidexpensesrefertoamountpaidinthecurrentaccountingyearforthebenefitorservicestobereceivedinthenextaccountingyear.

(ii) Theyarealsocalledasunexpiredexpenses.Prepaidexpenseaccountisarepresentativepersonalaccount.

27. (i) Cashdiscountisallowedtothepartiesmakingpromptorimmediatepayment.Itisdiscountallowed(loss)forthecreditoranddiscountreceived(gain)forthedebtorwhomakespayment.

(ii) Thediscountisallowedwhenpaymentisreceivedormadeandhencetheentryfordiscountisalsopassedwiththeentryofpayment.

28. (i) Aftertransferringalltheledgeraccountbalances,ifthetrialbalancedoesnottally,stepsmustbetakentolocateandrectifyerrors.

(ii) If the errors cannot be rectified, then the trial balance is tallied by transferring the differencebetweenthetotalofdebitbalancesandthetotalofcreditbalancestoatemporaryaccountcalledsuspenseaccount.

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29. Bank Reconciliation Statement as on 31st December 2016

Particulars Amount`

Amount`

Balanceaspercashbook 7,130Add : Directdepositbyacustomer 800

7,930Less : Chequedepositedbutnotclearly 1,000Balancesasperbankstatement 6,930

30. (a) Salesaccountshouldbecreditedwith` 100. (b) Purchasesreturnsaccountshouldbedebitedwith` 200.

PART - III31. (i) “Businessunitslastindefinitely”.ThisstatementisusedinGoingConcernConcept. (ii) Going concern concept influencesAccounting practices in relation to valuation of assets and

liabilities, depreciation of thefixed assets, treatment of outstanding andprepaid expenses andincomes.

(iii) Thevaluesinvolvedinthegoingconcernconceptare: 1. Growth :Byfollowingthegoingconcernconcept,businessactivitiesaretobecarriedout

forfuturegrowth. 2. Preparing for future :Byfollowingthegoingconcernassumption,businessfirmalways

intendstoprepareforthefuture.

32.

Particulars ` `

Assets Taken over :Stock 30,000

Cash 8,000

Bank 7,000

Debtors 40,000

Furniture 5,000

Building 25,000 1,15,000

Less : Liabilities taken over :

Creditors 18,000

NetAssets(Capital) 97,000

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In the books of Radhika Traders Journal Entries

Date Particulars L.F. Debit`

Credit`

2017 April01

StockA/c Dr.CashA/c Dr.BankA/c Dr.DebtorsA/c Dr.FurnitureA/c Dr.BuildingA/c Dr. ToCreditorsA/c ToCapitalA/c(Being the amount of assets and liabilitiesacquiredfromRadhikaTraders)

30,0008,0007,000

40,0005,000

25,00018,00097,000

33.

S.No. Transactions Classification

i) AdvertisingExpenditure,thebenefitsofwhichwilllastforthreeyears.

DeferredRevenueExpenditure

ii) Registrationfeespaidatthetimeofregistrationofabuilding. CapitalExpenditure

iii) Expenditure incurred on repairs and whitewashing of an oldbuilding.

CapitalExpenditure

34. In the Books of M/s. Subhashree Electric Co.,Purchases Book

Date ParticularsInward Invoice

No.L.F.

Amount

Details`

Total`

2017April5 KarthikElectricCo.,

10Electricironbox@` 2,500each 25,000

5Electricstoves@` 2,000each 10,000 35,000

April19 KhaitanElectricCo.,

3Electricheaters@`6,000each 18,000

April25 PolarElectricCo.,

10Fans@` 2,000each 20,000

Purchases A/c Dr. 73,000

Note : Purchases onApril 29th 2017 will not be recorded in the purchases book, because it is cashpurchases.

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35. Journal Entries


Credit`

2016Jan.1 CashA/c Dr. ToCapitalA/c(Startedbusinesswithcash)

10,00010,000

5 BankA/c Dr. ToCashA/c(AmountpaidintoBank)

5,0005,000

7 PurchasesA/c Dr. ToCashA/c(Cashpurchases)

1,0001,000

Ledger Account Dr. Cash Account Cr.



2016Jan1 ToCapitalA/c 10,000 2016Jan5 ByBankA/c 5,000

7 ByPurchasesA/c 1,000

31 ByBalancec/d 4,000

10,000 10,000


Dr. Bank Account Cr.



2016Jan5 ToCashA/c 5,000 2016Jan31 ByBalancec/d 5,000

5,000 5,000


Dr. Captial Account Cr.



2016Jan31 ToBalancec/d 10,000 2016Jan1 ByCashA/c 10,000

10,000 10,000

2016Feb1 ByBalanceb/d 10,000

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Dr. Purchases Account Cr.

Date Particulars J.F.Amount

`Date Particulars J.F.

Amount`

2016Jan7 ToCashA/c 1,000 2016Jan31 ByBalancec/d 1,000

1,000 1,000


36. Calculation of Profit or Loss on sale of Plant

Date Particulars Amount`

01.01.2015 CostPrice(10,000+2,000+7,000+1,000) 20,000

31.12.2015 Less :Depreciation 20 00010100

, ×

2,000

18,000

31.12.2016 Less : Depreciation 18 00010100

, ×

1,800

16,200

31.12.2017 Less :Depreciation 16 20010100

, ×

1,620

BookValueoftheAsset 14,580

\ AmountofDepreciation : 2015 = ` 2,000 2016 = ` 1,800 2017 = ` 1,620

37. In the Books of Pandeeswari Dr. Cash Book (Single column) Cr.

Date Receipts R.N. L.F. Amount

(`) Date Payments V.N. L.F. Amount

(`)2017June 2017June

2 ToPandeeswari 8 ByRentA/c 4,000CapitalA/c 50,000 10 ByPrinterA/c 7,500

14 ToSalesA/c 10,000 11 ByPurchasesA/c 15,00017 ToCommissionA/c 6,000 19 ByInterestonLoan 2,000

20 ByDrawingsA/c 3,00021 ByPostchargesA/c 3,50030 ByBalancec/d 31,000

66,000 66,000July 1 ToBalanceb/d 31,000

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38. Adjusting Entry

Date Particulars L.F.Debit

`Credit

`

BaddebtsA/c Dr.ToSundrydebtorsA/c(Baddebtswrittenoff)

1,2001,200

Dr. Profit ad loss account for the year ended Cr.

Particulars Amount`

Amount` Particulars Amount

`Amount

`

ToBaddebts 800Add :AdditionalBaddebts 1,200

2,000

Balance Sheet

Liabilities Amount`

Amount` Assets Amount

`Amount

`

SundryDebtors 16,000Less : AdditionalBaddebts 1,200

14,800

39. In the books of Mr. Chandramohan Trial Balance as on 31.03.2017

S.No. Name of account L.F.Debit balance

`Credit balance

`

1.2.3.4.5.6.7.8.9.10.

CapitalDrawingsLoanborrowedSalesPurchasesBankoverdraftMotorcarGeneralexpensesBuildingStock

2,000

40,000

20,0002,500

1,10,00016,200

1,24,500

7,00053,400

5,800

Total 1,90,700 1,90,700

40. (i) Asasystem,everyorganisationacceptsinputsandtransformsthemintooutputs.(ii) Allorganisationalsystemspursuecertainobjectivesthroughaprocessofresourceallocation,whichis

accomplishedthroughtheprocessofmanagerialdecision-making.(iii) Informationfacilitatesdecisionsregardingallocationofresourcesandtherebyassistsanorganisationin

pursuitofitsobjectives.

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PART - IV41. a) In the books of Mary

Journal Entries


Credit`

2018March1

CementbagsA/c Dr. ToSibiA/c(Cementbagsboughtoncredit)

20,00020,000

2 ElectricitychargesA/c Dr. ToBankA/c(Electricitychargedpaidbynetbanking)

500500

3 SibiA/c Dr. ToPurchasesreturnA/c(GoodsreturnedtoSibi)

5,0005,000

4 DrawingsA/c Dr. ToPurchasesA/c(Beinggoodstakenforpersonaluse)

1,0001,000

5 AdvertisementsexpensesA/c Dr. ToCashA/c(Advertisementexpensespaid)

2,0002,000

6 ManoA/c Dr. ToSalesA/c(Creditsales)

20,00020,000

7 SalesreturnA/c Dr. ToMonoA/c(GoodsreturnedtoMano)

5,0005,000

8 BankA/c Dr. ToManoA/c(PaymentreceivedfromManothroughNEFT)

15,00015,000

(or)

b) In the books of Rajeshwari Trial Balance as on 31.03.2017

S.No. Name of account L.F.Debit balance

`Credit balance

`

1. Cashatbank 28,000

2. Sundrydebtors 59,600

3. FurnitureandFixtures 1,72,000

4. Officeequipment 1,10,000

5. Adjustedpurchases 2,80,000

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6. Salesreturns 3,000

7. Closingstock 15,000

8. Sales 2,36,000

9. Rentandrates 4,000

10. Bankcharges 400

11. Baddebts 4,000

12. Drawings 20,000

13. InsurancePremium 4,000

14. Capital 3,00,000

15. Sundrycreditors 64,000

16. Loan(Cr.) 1,00,000

Total 7,00,000 7,00,000

42. a) In the Books of Mrs. Saif Dr. Trading and Profit and Loss account for the year ended 31.03.2018 Cr.

Debit Balances ` ` Credit Balances ` `

ToOpeningstock 40,000 BySales 2,20,000

ToWages 35,000 Less :Salesreturns 10,000 2,10,000

ToPurchases 1,30,000 ByClosingstock 14,500

Less : Purchasesreturns 15,000 1,15,000

ToGrossprofitc/d 34,500

2,24,500 2,24,500

ToOfficerent 12,700 ByGrossprofitb/d 34,500

ToInterestpaid 13,000

ToNetprofitc/d 8,800

(TransferredtoCapitalaccounts)

34,500 34,500

Balance as on 31st March 2018

Liabilities ` ` Assets ` `

Billspayable 7,000 Land 40,000

Capital 1,50,000 Machinery 66,000

Add : Netprofit 8,800 Cash 2,300

1,58,800 Debtors 80,000

Less :Drawings 5,000 1,53,800 Billsreceivable 15,000

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Creditors 60,000 Furniture 3,000

Closingstock 14,500

2,20,800 2,20,800

(or)

b) In the Books of M/s. Ponni & Co.,Sales Book

Date Particulars Outward Invoice No. L.F.

Amount

Details (`) Total (`)

2017 Aug1 Senthil 68 20,500

Aug4 Madhavan 74 12,800

Aug7 Kanagasabai 78 7,500

Sales A/c Cr. 40,800

Note : SalesonAugust20willnotberecordedinthesalesbecausetheyareCashsales.

Ledger Account Dr. Sales Account Cr.

Date Particulars J.F. Amount` Date Particulars J.F. Amount

`

2017Aug31 BySundries

asperSalesBook 40,800

Dr. Senthil Account Cr.


`

2017Aug1 ToSalesA/c 20,500

Dr. MadhavanAccount Cr.


`


Dr. Kanagasabai Account Cr.


`


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Sales Return Book

Date Particulars Credit Note No. L.F.

AmountRemarks

Details (`) Total (`)

2017 Aug15 Senthil 7 1,500 Aug25 Madhavan 11 1,800

Sales return A/c Dr. 3,300

Ledger Account Dr. Sales return account Cr.


`

2017Aug31 ToSundriesasper

SalesreturnBook 3,300

Dr. SenthilAccount Cr.


`

2017Aug15 BySalesReturnA/c 1,500

Dr. Madhavan Account Cr.


`

2017Aug25 BySalesreturnA./c 1,800

43. a) Ledger Account Dr. Cash Account Cr.



Amount`

2017June1 ToRajaCapitalA/c 50,000 2017June15 ByPurchasesA/c 4,000

6 ToSalesA/c 8,000 31 ByBalancec/d 54,000

58,000 58,000

2017July1 ToBalanceb/d 54,000

Dr. Raja Capital Account Cr.



Amount`

2017June30 ToBalancec/d 50,000 2017June1 ByCashA/c 50,000

50,000 50,000

2017July1 ByBalanceb/d 50,000

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Dr. Sales Account Cr.



2017June30 ToBalancec/d 17,000 2017June6 ByCashA/c 8,000

8 ByDeviA/c 9,000

17,000 17,000


Dr. Devi Account Cr.



2017June8 ToSalesA/c 9,000 2017June31 ByBalancec/d 9,000

9,000 9,000


Dr. Purchases Account Cr.


`

2017June15 ToCashA/c 4,000 2017June30 ByBalancec/d 9,000

20 ToShanthiA/c 5,000

9,000 9,000


Dr. Shanthi Account Cr.



2017June30 ToBalancec/d 5,000 2017June20 ByPurchasesA/c 5,000

5,000 5,000


(or)

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b) In the Books of Fathima Dr. Cash Book (Three columns) Cr.

Date Receipts

L.F. Amount

Date Payments

V.N.

L.F. Amount

Disc

ount

al

lowe

d

Cash Bank

Disc

ount

re

ceiv

ed Cash (`) Bank

(`) (`) (`) (`) (`) (`)

2017 2017

May May

1 ToBalanceb/d 17,200 43,000 15 ByLaptopA/c 21,000

4 ToRajkumarA/c 6,500 17 ByCashA/c 'C' 9,600

9 ToSalesA/c 12,000 24 ByPurchasesA/c 12,400 18,200

17 ToBankA/c 'C' 9,600 25 ByBankA/c 'C' 14,000

25 ToCashA/c 'C' 14,000 28 BySalaryA/c 8,000

29 ToDividendA/c 4,700 30 ByOfficeRentA/c 12,000

31 ByBalancec/d 11,600 200

– 50,000 57,000 – 50,000 57,000

June1

ToBalanceb/d

11,600

200

44. a) Calculation of profit or loss on sale of machinery

Particulars Amount`

Costofmachinery(April2014) 2,00,000

Less :Depreciationfor2014-15 20,000

1,80,000

Less : Depreciationfor2015-16 20,000

Less : Depreciation till the date of sale30.09.2016

2 00 000 10

100612

, , × ×

1,60,000

10,000

Bookvalueonthatdateofsale 1,50,000

Sellingprice 1,20,000

Lossonsaleofmachinery 30,000

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Ledger Account

Dr. Machinery Account Cr.

Date Particulars Amount` Date Particulars Amount

`

2014April1

ToBankA/c 2,00,000 2015Mar31 ByDepreciationA/c 20,000

Mar31 ByBalancec/d 1,80,000

2,00,000 2,00,000

2015April1

ToBalanceb/d 1,80,000 2016Mar31 ByDepreciationA/c(20,000+6,000)

26,000

Oct1 ToBankA/c 1,20,000 Mar31 ByBalancec/d 2,74,000

3,00,000 3,00,000

2016April1

ToBalanceb/d 2,74,000 2016Sep30 ByDepreciationA/c 10,000

Sep30 ByBankA/c 1,20,000

Sep30 ByProfitandlossA/c(Lossonsale)

30,000

2017Mar31 ByDepreciationA/c 12,000

" ByBalancec/d 1,02,000

2,74,000 2,74,000

2017April1 ToBalanceb/d 1,02,000

Dr. Depreciation Account Cr.

Date Particulars Amount` Date Particulars Amount

`

2015Mar31

ToMachineryA/c 20,000 2015Mar31 ByProfitandlossA/c 20,000

20,000 20,000

2016Mar31


26,000 26,000

2017Sep30


2017Mar31

ToMachineryA/c 12,000

22,000 22,000

(or)

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b) Analytical Petty cash book Dr. Analysis of Payments Cr.

Rec

eipt

s

C. B. F. N.

Date Particulars V.N. To

tal

Paym

ent

Prin

ting

&

Stat

ione

ry

Con

veya

nce

Wag

es

Post

age

and

tele

gram

s

Car

riag

e

Sund

ries

L.F. Pe

rson

al

Acc

ount

s

(`) (`) (`) (`) (`) (`) (`) (`) (`)2017 July

2,000 1 ToCash7 ByWritingpadsand

registers 100 1008 ByWhitepapers 50 5010 ByAutocharges 200 20015 ByWages 300 30018 ByPostalcharges 100 10021 ByStationery 450 45023 ByTeaexpenses 60 6025 BySpeedPost 150 15027 ByRefreshmentExpenses 250 25031 ByCarriage 150 150

1,810 600 200 300 250 150 31031 ByBalancec/d 190

2,000 2,000Aug

190 1 ToBalanceb/d1810 ToCash

45. a) Bank reconciliation statement as on 31st March 2017

Particulars Amount`

Amount`

Bankaspercashbook 2,250

Add : ByInterestreceived 900

ByChequeissuedbutnotreceived 4,200

Chequedepositedintobankbutnotcollected 350 5,450

7,700

Less : Bankcharges 15

Balanceasperpassbook 7,685

(or)

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b)

S. No. Transaction

Cash`

Bank`

Stock`

Drs`

Total Assets

`=

Total Liabilities

`

Capital`

i) Started business with capital +1,50,000 +1,50,000

Balance +1,50,000 +1,50,000

Equation +1,50,000 = +1,50,000

ii) Deposited money with the bank

–80,000 +80,000

Balance +70,000 +80,000 +1,50,000

Equation +1,50,000 = +1,50,000

iii) Purchased goods from credit card –25,000 +25,000

Balance +70,000 +55,000 +25,000 +1,50,000

Equation +1,50,000 = +1,50,000

iv) Cash sales –10,000 +14,000 + 4,000

Balance +70,000 +55,000 +15,000 +14,000 +1,54,000

Equation +1,54,000 = +1,54,000

v) Commission re-ceived by cheque +2,000 +2,000

Balance +70,000 +57,000 15,000 +14,000 +1,56,000

Equation +1,56,000 = +1,56,000

vi) Paid rent by ECS –6,000 – 6,000

Balance +70,000 +51,000 15,000 +14,000 +1,50,000

Equation +1,50,000 = +1,50,000

vii) Sold goods to Raman

+5,000 –15,000 –10,000

Balance +75,000 +51,000 0 +14,000 +1,40,000

Equation +1,40,000 = +1,40,000

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46. a) Rectification of Errors

S. No. Particulars L.F. Debit`

Credit`

(a) SalesA/c Dr. ToSuspenseA/c(Excesscreditinsalesbooknowrectified)

1,5001,500

(b) SuspenseA/c Dr. ToVani'sA/c(Partial omission in credit of Vani's A/c nowrecorded)

3,0003,000

(c) SuspenseA/c Dr. ToSalesA/c ToSalesreturnA/c(WrongpostingonSalesreturnA/cforSalesA/cisrectified)

24,00012,00012,000

(d) SuspenseA/c Dr. ToInterestA/c(CorrectionininterestreceivedA/c)

900900

Dr. Suspense Account Cr.

Particulars Amount` Particulars Amount

`

ToVani'sA/c 3,000 BySalesA/c 1,500

ToSalesA/c 12,000 ByDifferenceintrialBalance 26,400

ToSalesreturnA/c 12,000 (BalancingFigure)

ToInterestA/c 900

27,900 27,900

(or)

b) In the Books of Mr. RajasekaranPurchases Book

Date ParticularsInward Invoice

No.L.F.

AmountDetails

(`) Total (`)

2017 May10 Raman 15,000 May18 Sekaran 10,000 May20 Pradeep 20,000

Purchases A/c Dr. 45,000

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Purchases Return Book

Date ParticularsDebit Note No.

L.F.Amount

RemarksDetails (`) Total (`)

2014 May14 Raman 500 Damaged

intransit

May24 Sekaran 1,000

Purchases return A/c Cr. 1,500

47. a) Dr. Trading and profit and loss account of Ramesh for the year ended 31st March 2016 Cr.

Particulars Amount`

Amount` Particulars Amount

`Amount

`

ToOpeningstock 40,000 BySales 1,90,000

ToPurchases 85,000 ByClosingstock 35,000

ToWages 37,500

ToGrossprofitc/d 62,500

(Transferred to profit andlossaccount)

2,25,000 2,25,000

ToBaddebts 2,000 ByGrossprofitb/d 62,500

Add : NewProvisionforbaddebts 3,000

(Transferredfromtradingaccount

5,000

Less : Oldprovisionforbaddebts

2,500

ByDiscountreceived 3,000

2,500

ToProvisionfordiscountondebtors

840

ToTelephonecharges 3,000

ToAdvertising 15,000

Less :Unexpired 250 14,750

ToNetprofit 44,410

(Transferredtocapitalaccount)

65,500 65,500

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Balance sheet for the year ended 31st March 2016

Liabilities Amount`

Amount` Assets Amount

`Amount

`

SundryCreditors 48,000 FurnitureandFixtures 65,000

Capital 85,000 Debtors 45,000

Add : Netprofit 44,410 Less :Provisionforbaddebts 3,000

42,000

1,29,410 Less :Provision for discountondebtors 840

Less :Drawings 15,000 41,160

1,14,410 Cashinbank 21,000

Closingstock 35,000

Unexpiredadvertising 250

1,62,410 1,62,410

(or)

b) In the books of Balan Driving School Trial Balance as on 31.12.2016

S.No. Name of account L.F. Debit balance`

Credit balance `

1. Computer 26,000

2. Salariestodrivers 4,000

3. Taxesandinsurance 16,500

4. FuelandPower 2,000

5. Rentandrates 1,500

6. Freeholdland 30,000

7. Bankloan 15,000

8. Feesreceived 18,150

9. Capital 53,850

10. Advertisement 7,000

Total 87,000 87,000

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NOTES

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