CLASS TEST-I

CH-BASIC ACC TERMS, BASIS OF ACC,

JOURNAL,ACC EQUATION, LEDGER, CASH BOOK,
SUBSIDIARY BOOKS, TRIAL BALANCE
XI- ACCOUNTANCY
TIME:2HRS M:M:50

SR.N QUESTIONS M
O.
1 Which of the following is not objective of accounting: 1
(a) To assist the management
(b) To ascertain profit or loss
(c) To provide information to various parties
(d) To measure business transaction in terms of money
2 ------------------- are those Non- Current assets which are held for use in the 1
business and are not meant for resale.
3 Journal proper records……………….. 1
I. All transactions
II. All cash transactions
III. All credit transactions
All transactions not recorded in any of subsidiary books.
4 Identify the principle due to which the proprietor of a business is treated as 1
creditor to the extent of his capital:
(a) Money measurement principle
(b) Dual aspect concept
(c) Going concern concept
(d) Business entity principle
5 Define GAAP. 1

6 Amount withdrawn for personal use by proprietor will……………… cash 1

and capital.
(a) Decrease
(b) Increase
(c) Not change
(d) None of the above
7 According to modern approach Purchases Account is an………….. Account. 1
8 Why the following parties are interested in accounting information: 3
(a) Owners
(b) Government
(c) Public
9 Distinguish between Revenue and Capital expenditure. 3
10 3
11 classify the following Accounts into Personal, Real and Nominal Accounts: 3
(i) Interest paid
(ii) Accrued interest
(iii) Loan account
(iv) Motor vehicle
(v) Sales account
(vi) Bad debts

12 Write down three points of difference between Cash Basis and Accrual Basis 3
of Accounting.

13 Give specimen/format of the Purchase book and Sales return book. 3

14 What is stock or inventory? Discuss types of inventory in case of 4
manufacturing unit.
OR
Prepare CASH , PURCHASES, SALES AND CAPITAL Ledger Accounts
for following transactions:
Mar 01, Started business with Cash Rs. 3,00,000.
Mar 03, Purchased furniture in cash Rs. 50,000.
Mar 05, Bought goods for cash Rs.20,000 from Tarun Traders.
Mar 10, Paid rent Rs. 1,500.
Mar 13, Sold goods for Rs. 30,000 in cash.
Mar 20 Sold goods to Rupa Traders Rs. 42,000 on credit.
15 Verma Bros., Kolkata carry on business as wholesale cloth dealer. From the 4
following write up their Purchases Book for January, 2018:
Date Transactions
Jan, Purchased on credit from M/s. Birla Mills, Kolkata:
03 100 pieces long cloth @ R. 800 each.
50 pieces shirting @ Rs. 500 each.
CGST AND SGST PAYABLE @6% EACH.
Jan , Purchased for cash from M/s. Ambika Mills Ahmadabad:
08 50 pieces Muslin @ Rs. 1,000 each.
IGST payable @12%.

Jan , Purchased on credit from M/s. Arvind Mills, Ahmedabad:

15 20 pieces coating @ Rs. 2,000 each.
10 pieces shirting @ Rs. 500 each.
IGST payable @12%.
Jan , Purchased on credit from M/s. Bharat Typewriters Ltd., Kolkata:
20 5 typewriters’ @ Rs. 1,400 each.
CGST AND SGST payable @ 6% each.
16 From the following particulars prepare Analytical Petty Cash Book on 4
imprest system of Sunrise Ltd.
 Date Particulars
2017
Feb. 02 Cash received from head cashier Rs. 2,000.
Feb. 05 Paid for postage Rs. 100.
Feb. 08 Paid for Bus fare Rs. 240.
Feb. 10 Paid for Refreshment Rs. 120.
Feb. 12 Paid for repairs Rs. 270.
Feb. 13 Paid for cartage Rs. 130
Feb. 15 Paid for stationery Rs. 220.
Feb. 18 Paid for Conveyance Rs. 280.
Feb. 25 Paid for Speed post Rs. 200.
Feb. 28 Paid for Office tea/ coffee Rs. 190.
17 Present the following transactions in the form of Accounting Equation. 5
(i) Manoj started business with Cash Rs. 90,000, Goods Rs. 20,000
(ii) Loss of cash by theft Rs. 1,000.
(iii) Sold goods costing Rs. 8,000 for Rs. 10,000. Only 60% amount
received in cash.
(iv) Goods costing Rs. 10,000 bought at 10% trade discount on credit.
(v) Purchased cycle of Rs. 2,000 for his son.
(vi) Paid Rent Rs. 12,000 which includes Rs. 2,000 for next year
OR
Prepare Trial Balance as on 31st march, 2018 from the following ledger
balances of Shri Ram Shankar:
Particulars Amount Particulars Amount
(Rs) (Rs.)
Sundry creditors 1,36,500 Interest on Loan 10,000
Sundry debtors 79,300 Conveyance 200
Rent received 6,300 Goodwill 30,000
Miscellaneous Expenses 3,200 Commission 4,000
Plant and Machinery 7,98,750 Loan from ICICI bank 90,000
Creditor for furniture 30,000 Outstanding expenses 20,800
Opening stock 40,000 Drawings 15,000
Discount (cr.) 9,900 Salaries and wages 25900
Furniture 36,500 Discount Allowed 5,500
Buildings 9,81,000 Capital 5,00,000
Rent 12,000 Purchases 3,13,450
Loan (cr.) 10,00,000 Sales 5,61,300
Input IGST A/C 2,500 Input SGST A/C 1,000
Input CGST A/C 1,000 Output IGST A/C 4,500

18 Pass Journal Entries for the following transactions in proper formats: 8

(i) Mr. Ajay started business with Cash Rs. 50,000, and brought
personal furniture for rs. 80,000 and personal vehicles rs. 1,50,000 for
office use.
(ii) Charge interest on drawings @10%p.a for 6 months.(Drawings Rs.
10,000)
(iii) Bought goods from Amit for Rs. 2,00,000 at 5% cash discount and
20% trade discount. Paid ¾ th amount in cash at the time of
purchase. (CGST @9%, SGST@9%.
(iv) Goods worth Rs. 10,000 damaged by fire and Insurance Co. accepted
a claim of Rs. 8,000.
(v) A new Machinery of Rs. 2,00,000 was purchased from Mr. X in
exchange of an old machinery valued Rs. 40,000. He gave a cheque
for the balance amount.
(vi) Received an order of Rs. 1,00,000 from Customer and 10% of the
amount received in advance.
(vii) Goods worth Rs. 5,000 and cash Rs. 2,000 withdrew for personal use.
(viii) Paid Rent of Building Rs. 6,000. Half of building is used by
proprietor for residential purpose.