Aadhar : The Scholar’s Hub

Class XI – Accountancy Test Date : 27.06.21

Time : 1.5 Hrs Max. Marks – 30

1. Pass Journal entries for the transactions given below: (2+3+3=8)

A. (i) Sold goods to B on credit for ₹10,000.

(ii) Returned 1/5th of the goods by him.
(iii) B settled his account after deducting 10% discount for prompt payment.

B. (i) Sold goods to Feroz ₹26,000.

(ii) Feroz paid on account Rs.15,000.
(iii) Received cheque of ₹10,500 from Feroz in full settlement of his account and the
cheque was deposited into bank on the same date.
(iv) Feroz became insolvent and a dividend of 40 paisa in a rupee was received from
his official receiver.

C. (i) Received an order from Karan for ₹50,000 against supply of goods and received
80% as advance together with the order.
(ii) Goods of ₹50,000 supplied against Karan’s order

2. Pass Journal entries for the transactions given below: (10)

a) Paid by cheque ₹8,400 as insurance premium for a period of 12 months starting

01.08.2016. Financial year closes on 31st March every year.

b) Sold goods costing ₹1,20,000 to Charu at a profit of 33 % on cost, less 15% trade
discount.

c) Sold goods costing ₹80,000 to Arun against cheque at a profit of 20% on sales less
15% trade discount and 10% cash discount.

d) Sold personal car of the proprietor for ₹80,000 against cheque which was
deposited into firm’s account.

e) Received cheque of ₹10,000 from Mohan after banking hours.

f) Sold goods of list price Rs. 20,000, at a profit of 20% on sales, 10% trade discount
and 5% cash discount. Received 50% of the payment by cheque & 50% of the
balance through cash and remaining to be received later.

[Mob. No. – 9811069125, 9015909125 | [Address : 1A First Floor, Arjun Nagar, Safdarjung Enclave, Near 1
Reliance Fresh, New Delhi 110029
 Aadhar : The Scholar’s Hub

3. Record the following transactions in the books of Ravi & Co. Delhi assuming all
transactions have been entered at Delhi. (12)

(i) Started business with Cash Rs.50,000 and Cheque of Rs.4,00,000.

(ii) Bought goods of the list price of Rs.1,00,000 from Gopal Bros. less 20% trade
discount and 5% Cash discount and paid 60% by cheque.

(iii) Sold goods to Manoj & Co. of the list price Rs.2,00,000 less 15% trade discount
and 4% Cash discount and received 40% by Cheque.

(iv) Paid to Gauri Shankar Rs.95,000 by Cheque after deducting 5% Cash discount.

(v) Electricity expenses paid by Cheque for office Rs.20,000 and for residence of
Proprietor Rs.10,000.

(vi) Paid salaries by Cheque Rs.25,000.

(vii) Dinanath, a debtor for Rs.40,000 has become bankrupt and 25% is Received from
his estate by Cheque.

(viii) Withdrew from bank Rs.60,000 for office use and Rs.20,000 for personal use.

(ix) Received by Cheque for a bad debt written off last year Rs.10,000.

(x) Sold goods costing Rs.60,000 to Kishore against Cheque at a profit of 25% on cost
less 10% trade discount. Cash discount allowed @ 2%.

[Mob. No. – 9811069125, 9015909125 | [Address : 1A First Floor, Arjun Nagar, Safdarjung Enclave, Near 2
Reliance Fresh, New Delhi 110029