Question # 3

10

Maria sends 100 Radio sets to Razia to be sold on consignment. She spends Rs. 300 on packing.
Coast of each set is Rs. 150. Razia sends a bank draft to Maria as an advance for Rs. 10, 000.
Razia spends Rs. 1, 150 as expenses. Razia sold all sets at Rs. 200 each she is entitled 10%
commissions on sales. Show various accounts in books of Maria.

Question # 4

10

Pass Journal entry if debenture is

1.
2.
3.

Issued at Rs. 100 and repayable at Rs. 100

Issued at Rs. 90 and repayable at Rs. 110
Issued at Rs. 100 and repayable at Rs, 110.

Question # 5

10

A company purchased a machine ( second hand ) for Rs. 8,000 on 1st April 2008. They spent Rs.
3,500 on its overhauling and installation. Depreciation is written off at 10% per annum on the
original cost. On 30th June 2008, the machine was sound unsuitable and sold for Rs. 6,500.
Prepare machine account from 2008 to 2011, assuming accounts are closed on 31st December
every year.