MOUNT CARMEL PU COLLEGE

PREFINAL EXAMINATION JANUARY 2019

I PUC- ACCOUNTANCY (30)
Time: 3Hours 15Minutes

Marks: 100

SECTION-A
Answer
any GHT questions. Each question carries ONE mark. (8x1-8)
Liabilities+
1) Assets = book of
Journal is a
2) which all accounts are maintained is known as:
31 The book in
a) Cash Book
b) Journal
c) Purchases Book

d) Ledger
to record salaries paid would be:
4) Journal entry
credit cash c) Debit cash, credit salary
a) Debit salaries,
credit cash d) Debit salary, credit creditors
b) Debit capital,
the transactions from the journal to the ledger is called posting (State True or False)
S) The process of recording
State any one example
of provision.
6)
7) A bill is drawn 1/06/2017 for a period of 2 months. Find out the date of maturity.
on
are recorded in purchase book. (State True or False)
8) Cash and credit purchases
State any one type of
error.
9)
10) Expand IAS.

SECTION-B
carries TWO marks. (5x2-10)
Answer any FIVE questions. Each question

11) What are revenues and expenses? items.

12) State any two Capital Expenditure
of accounting information.
13) Name any two external users commission?
of
14) Give two examples of errors
a trial balance.
15) State any 2 objectives of preparing
16) What is Depreciation?
in a bill of exchange.
17) State the three parties involved
assets.
18) Give two examples of fixed
SECTION-C
(4x6-24)
questions. Each question carries SIX marks.
Answer any FOUR
Capital, Income & Expenses:
Accounts into Assets, Liabilities,
9) Classify the following
a) Cash account
b) Purchases account
c)Drawingsaccount
d) Loose tools account
e)Salary account
) Furniture account
g Purchases returns account
h) Sales account
i) Bad debts account
) Creditors account
k)Buildings account
Interest received account
 20) Enter the following transactions in a Simple Cash Book for August 2013
01/08/2013 Cash In Hand Rs. 3000.
08/08/2013 Bought Furniture for Rs. 1000
16/08/2013 Received from Shankar on account Rs. 2500
22/08/2013 Paid Salary Rs. 1300
28/08/2013 Commission Received Rs 1800

21) Record the following transactions in an analytical petty cash book under Imprest System and balance it.
01/06/2016 Received a Cheque towards petty cash Rs. 800
04/06/2016 Paid bus fare Rs. 90
08/06/2016 Paid for subscription to newspaper Rs. 120
16/06/2016 Paid for printing charges Rs 50
20/06/2016 Paid for telephone bill Rs. 140
29/06/2016 Paid to Alia on account 150

22) Record the following transactions in the Purchases Book

01/01/2017 Purchased goods from Suresh Rs. 10,000
09/01/2017 Credit purchases from Mr. Santosh Rs. 20,000 less trade discount @10%.
11/01/2017 Purchased from Mahesh Traders Rs. 8000.
16/01/2017 Purchased office furniture from BST Furnitures for Rs. 15,000
26/01/2017 Bought goods from Girish Rs. 28,000 less trade discount @ 5%.

23) Rectify the following errors by passing Journal entries.

a) An amount of Rs. 1000 spent on repairs to machinery has been debited to machinery account.
DAA
b) An amount of Rs. 2000 withdrawn by the proprietor has been debited to office expenses account,
c) An amount of Rs. 3000 recevied from Rishi has been credited to Nishi's account.
d) An amount paid towards salary Rs. 4000 has been debited to Rent account.
e) Credit sales to Anushka Rs. 2000 were not recorded.
Furniture purchased for Rs. 10,000 has been posted to Purchases account.
al
24) Fromthe following ledgerbalances of Mr. Aditya, prepare TrialBalance as on 31/03/2015
Name of the Account Amount (Rs)
Purchases 95,000
Sales 1,36,000
Bank loan 20,000
Machinery 50,000
Cash 46,000
Capital 1,00,000
Debtors 80,000
Creditors 17,000
Bills receivable 4,000
Bills payable 2,000
Stock 25,000
Bank overdraft
25,000

25) Calculate the Cost of Goods Sold for the year 2016
Particulars Amount (Rs)
Purchases 15,00,000
Sales
20,00,000
Wages 1,20,000
Stock on 1/04/2015
3,00,000
The Stock as on 31/03/2016 was valued at Rs 4,00,000.
 TION-D
SECTIOON-D
wOUR questions. Each question carries
TWELVE marks
Journalise the 1following
.nalise the transactions in the books Shri Ram (4x12=48)
26) 1/10/2016 Commenced business with
Cash Rs. 50,000
/2016 Opened a bank account with Canara bank Rs. 10.000
o6/10/2016 Purchased goods for cash Rs. 20,000.
08/10/2016 Bought goods from Radha Rs. 25,000.
10/10/2016 Sold goods for cash Rs. 30,000.
15/10/2016 Sold goods to Bhavya Rs. 23,000
I8/10/2016 Cash paid to Radha on account Rs 15.000.
5/10/2016 Received cheque trom
26/10/2016 Paid rent by cheque Rs.Bhavya
in full
2000. settlement of her account
Rs. 22.500.
a8/10/2016 Interest received and credited to our bank
30/10/2016 Paid salary Rs.300. account Rs. 30o.

27)Coter the following transaction in sales

book and sales
return book and
month of September 2017 post them
Sep 01 Sold To Rahul Goods of Rs.5000
to
ledger accounts for the
Sep Supplied Goods Of Rs.4000 to Kashvi Stores
06
Sep09 Damaged Goods Received From Tara Rs.5000 on Account
Sep 14 Sold To Richa And Company Goods Of
Rs.6000 At 10% Discount'.
Sep17 Claimed Allowance by Rahul For Over Price
Sep 25 Cash Sales of Rs.500. Rs. 500.

28) Prepare double column cash book from the

01 Feb Cash in hand 10,000 following transactions for February, 2014
Cash at bank 50,000
02Feb Paid insurance
premium by cheque Rs. 8000
05Feb Cash Sales Rs. 25,000.
08Feb Purchased goods for cash
Rs. 13,000.
10Feb Cash depositedinto Bank Rs. 19,000
15 Feb Withdrawn cash
from bank for
16 Feb Drew Cash from personal use Rs.5000.
Bank for office use
18 FebReceived cheque from Anand 10,000
22Feb Cartage paid in cash Rs. 10,000 and deposited the same into bank.
28Feb Cheque received Rs.1 500
from Kumar Rs. 5000.

29) From the

following particulars, prepare Bank
a) Bank Balance as per Cash
Reconciliation Statement as on 31*
b) Cheques book Rs 50,000 March, 2016:
issued, but not
c) Dividend on shares presented for payment Rs. 6,000
d) Bank charges collected by Bank and credited in Pass Book
debited in Pass Book only Rs.8,000
e) A cheque deposited into the bank only Rs. 400.
) Insurance but not yet collected
premium paid directly by the bank by the bank Rs. 5,000.
Rs. 1,000.

OnSeptember
tO
2016, Prerna draws a 3 months
Prerna, Prerna endorses it toSuhana.
bill on Kaira for Rs.
6,000. Kaira
, he bill is On 1st October 2016 Suhana discounts theaccepts the bill and returns
Journal entries in dishonoured and the noting
the books of charges incurred by Suhana's banker bill for Rs. 5,500. At
31) C
31) Prerna, Kaira and Suhana. amounted to Rs. 200. Pass
On
1/04/2013, ABC Co. pur
On the same date urchased a new
machinery for Rs. 1,00,000. On 30/09/2015 the
machine machine was sold for Rs,
Mac was purchased for
Machineryucing Balance method.
alc for the
first 4
Rs.
Accounts are closed on 31s 50,000. The firm charges depreciation @
March every year. 1070
years. Prepare Depreciation ac and
 prepare Financial Statements of Moonl
32) From the following Trial balance and adjustments, Stores for the
2017:
year ending 31* March,

SI No. Name of the Account Debit

(Rs) Credit (RRs)
Opening Stock 20,000
Purchases 80,000
Sales 1,60,000
Purchase returns 1200
Sales returns 400
6. Wages 12,000
Salary 9000
8. Miscellaneous Income 12,000
9. Rent 6000
10. Drawings 4000
Capital 80,000
12. Debtors 12,000
13. Creditors 14,000
14 Cash 6000
15. Investments 20,000
16.
Buildings 86,000
17. Furniture 23,800
Total 2,73,200 2,73,200

Adjustments:
a) Stock valued at Rs. 40,000 on 31/03/2017
b) Write off Rs. 500 as bad debts.
c) Outstanding salaries Rs 1,000.
d) Depreciate Buildings at 10% p.a. and Furniture at 10% p.a.

SECTION-E
Answer any TWO questions. Each question carries FIVE marks (2x5-

33) Write the Accounting Equation for each item and find the missing figure:
Assets (Rs) Liabilities (Rs) Capital (Rs)
2,00,000 1,60,000
1,80,000 90,000
34,000 66,000
34) Prepare Balance Sheet with five imaginary figures.
35) Prepare a Specimen of Bill of Exchange.