ACCOUNTANCY

I-PUC
MID-TERM-Question paper

SECTION – A

I. ANSWER ANY 8 QUESTIONS – EACH QUESTION CARRIES 1 MARK.

1. Accounting begins with the identification of transactions & ends with the
preparation of ____ statements.
2. The Process of Re cording transactions in journal is called ____
3. What are contra entries?
4. Write the rule of Personal A/c
5. Give any two examples for Nominal A/c.
6. Write any two accounting standards.
7. What is Real Account ?
8. Give any two examples for fixed assets.
9. Give any two examples for transactions.
10. Commission received is a example for
a. Revcnces b. Cost c. Expenses d. Production

SECTION – B

I. ANSWER ANY 5 QUESTIONS – EACH QUESTION CARRIES 2 MARK.

11. Write any 2 features of double entry system

12. Give two examples for contra entry.
13. Defire Accounting.
14. What is cost concept?
15. State the two systems of book keeping.
16. What is meant by voucher entry

SECTION – C

I. ANSWER ANY 4 QUESTIONS – EACH QUESTION CARRIES 5 MARK.

17. Clarify the following accounts into assets liabilies, capital, Revenue / Gains &
Expenses Losses.
a. Cash A/c b. Purchase A/c c. Building A/c d. Salary A/c
e. Investment A/c f. Out Standing Salary A/c g. Sales A/c
h. Creditors i. Drawings A/c j. Computer A/c

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 18. What is cash book? Explain the types of cash book.
19. Give any five advantages of a journal.
20. X purchased a machinery for Rs. 5,00,000 on 1 st April 2017 the scrap value of the
machinery & Rs. 10,000 & its useful life & 10 years – calculate the amount of
depreciation.
21. Enter the following transactions is a simple cash book
June 1/2017 cash in hand Rs. 12000
June 5/2017 cash received from ram Rs. 4000
June 10/2017 purchased goods from murali for cash Rs. 6000
June 20/2017 sold goods for cash Rs. 9000

SECTION – D

I. ANSWER ANY 4 QUESTIONS – EACH QUESTION CARRIES 15 MARK.

22. Journalise the following transactions

01.06.2017 started business with cash Rs. 50,000/-
05.06.2017 Deposited with bank Rs. 10,000/-
07.06.2017 sold goods to Nagaraj for cash Rs. 10,000/-
09.06.2017 purchased goods from Jagadish on credit for Rs. 5,000/-
11.06.2017 paid cash to Jagadish Rs. 4,000/-
13.06.2017 paid for travelling expenses Rs. 500/-
15.06.2017 took goods from business for domestic use Rs. 1,000/-
17.06.2017 out standing salary Rs. 800/-
20.06.2017 credit sales made to Raju Rs. 10,000/-
22.06.2017 paid for advertisement Rs. 2,000/-
25.06.2017 paid in as further capital Rs. 12,000/-
27.06.2017 purchased office furniture’s Rs 3,000/-

23. Record the following transactions in 2 column cash book of sagar and balance it

01.02.2017 Bank balance Rs. 50,000/-

07.02.2017 Cash balance Rs. 10,000/-
05.02.2017 Cash sales Rs. 25,000/-
08.02.2017 cash purchase Rs. 18.000/-
10.02.2017 cash deposited into the bank Rs. 19,000/-
12.02.2017 Telephone bill paid by cheque Rs. 2,500/-
15.02.2017 withdrawn cash from the bank for personal use Rs. 15,000/-
16.02.2017 Cash withdrawn from bank for office use Rs. 10,000/-
22.02.2017 Paid wages Rs. 1,500/-
28.02.2017 Cheque received from keemae Rs. 5,000/-

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24. M/s Golden Co ltd purchased a machine for Rs. 36,000/- on 01.10.2012 and spent
Rs. 40,000/- for its transportation on 01.04.2014 the __________ purchased another
machine for Rs. 2,50,000/- on 31.12.2014 it sold the machine which was purchased
on 01.10.2012 for Rs. 2,95,000/-. Company charges 10% depreciation per annum on
straight line method every year. Prepare Machine A/c and Deprecation A/c for first
3 years. The book of accounts are closed on 31.03.every year.

25. Draft a triple cocumnn cash book

01.11.2014 Balance of Cash in hand Rs. 8,000 & at bank Rs. 12,000/-
05.11.2014 cash sales Rs. 7,000/-
07.11.2014 sold furniture for cash Rs. 3,000/-
10.11.2014 received from sunitha Rs. 7,300/- and allowed her discount of Rs. 100
12.11.2014 paid into bank Rs. 4,000/-
14.11.2014 paid to vanitha by a cheque Rs. 3,000/- received discount of Rs. 100
15.11.2014 purchase goods for Rs. 2,500/- by cheque
17.11.2014 received a cheque from Ranjitha Rs. 8,750/-
18.11.2014 deposited Ranjitha’s Cheque into bank for collection
21.11.2014 Paid salary by cash Rs. 900/-
25.11.2014 Drawn from bank for office use Rs. 1,000/-

26. Prepare petty cash book from the following transactions. The imprest amount and
Rs. 2,000/-
Paid Creetage Rs 50
STD Charges Rs. 40
Bus Fare Rs. 100
Postage Rs. 200
Refreshment for Employee Rs. 100
Stationery Rs. 60
Fax Charges Rs. 30
Repaid on furniture Rs. 105
Laundry Expenses Rs. 120
Misculancess Expenses Rs. 100
Telegram Charges Rs. 100

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