AMBIENCE ACADEMY

Date : 23-09-2023 STD 11 Commerce Account

accountancy Total Marks : 36

SECTION A () questions of 6 marks each. ( Write Any 6 ) [36]

1. State Whether the following accounts will a debit or credit balances:
i. Rent Received.
ii. Bank Overdraft.
iii. Wages.
iv. Land and Building.
v. Commission Received.
vi. Commision Paid.
vii. Rent Outstanding.
viii. Cash in Hand.
ix. M/s. Gupta Traders (Supplliers).
x. Drawings.

MY
xi. Capital.
xii. Prepaid Rent.
xiii. Input IGST.
xiv. Output SGST. DE
Ans. :
CA

Debit Balance:
iii. Wages.
EA

iv. Land and Building.

vi. Commision Paid.
viii. Cash in Hand.
NC

x. Drawings.
xii. Prepaid Rent.
xiii.
BIE

Input IGST.
Credit Balance:
i. Rent Received.
AM

ii. Bank Overdraft.

v. ​Commision Received.
vii. Rent Outstanding.
ix. M/s. Gupta Traders.
xi. Capital.
xiv. Output SGST.

2. Journalise the following in the books of Amit Saini, Gurugram (Haryana):

i. Goods of ₹ 5,000 were taken by him for personal use.
ii. ₹ 2,000 due from Sohan were bad debts.
iii. Goods of ₹ 6,000 were destroyed by fire and were not insured.
iv. Paid ₹ 4,000 in cash as wages on installation of machine. (GST is not to be
levied).
v. Sold goods to Arjun of Delhi of list price ₹ 20,000. Trade discount @ 10% and
cash discount of 5% was allowed. He paid the amount on the same day and
availed the cash discount.
vi. Received ₹ 2,000 from Ramesh, whose account was written off as bad debts.

[1]
 vii. Goods costing ₹ 1,000 given as charity.
viii. Received ₹ 9,750 from Ramesh in full settlement of his account of ₹ 10,000.
ix. Paid rent in advance ₹ 4,000.
​ GST and SGST is to be levied on intra-state sale @ 6% each and IGST @ 12% on inter-
C
state sale.

Ans. :

MY
DE
CA
EA
NC
BIE
AM

[2]
 MY
DE
CA
EA
NC
BIE
AM

3. Journalise the following transactions:

₹

[3]
 Shyam became insolvent. A first and final compensation of 75 paise in a rupee 10,
(i
was received from his Official Receiver. He owed us 00
)
0
(i Received cash for bad debts written off last year. 5,0
i) 00
(i Rent due to landlord. 8,0
ii 00
)
(i Salaries due to clerks. 10,
v 00
) 0
( Placed an order with Rakesh Mohan for the supply of goods of the list price of ₹
v 1,00,000. In this connection, Raman paid 10% of the list price as an advance by
) cheque.

Ans. :

MY
DE
CA
EA
NC
BIE
AM

4. Journalise the following transactions in the books of Bhushan Agencies:

i. Received from Bharat cash ₹ 20,000, allowed him discount of ₹ 500.
ii. Received from Vikas ₹ 35,000 by cheque, allowed him discount of ₹ 750.
iii. Received from Akhil ₹ 38,000 in settlement of his dues of ₹ 40,000 in cash.
iv. Received from Amrit ₹ 50,000 by cheque on account against dues of ₹ 60,000.
v. Paid cash ₹ 40,000 to suresh, availed discount of 2%.
vi. Paid by cheque ₹ 25,000 to Mehar and settled her dues of ₹ 26,000.
vii. Paid ₹ 25,000 to Yogesh by cheque on account.

[4]
 viii. Purchased goods costing ₹ 1,00,000 against cheque and availed discount of
3%.
ix. Purchased goods costing ₹ 60,000 from Akash & Co., paid 50% immediately
availing 3% discount.
x. Sold goods of ₹ 30,000 against cheque allowing 2% discount.
xi. Sold goods of ₹ 60,000 to Vimal received 50% of due amount allowing 2%
discount.

Ans. :

MY
DE
CA
EA
NC
BIE
AM

[5]
 AM
BIE

[6]
NC
EA
CA
DE
MY
5. Journalise the following transactions of Mr. Rahul:

2019 ₹
Jan. 1 Rahul started business with cash 1,00,0
00
Jan. 2 Paid into bank 60,000
Jan. 3 Bought goods from M/s. Singh & Co. 20,000
Jan. 3 Paid cartage 300
Jan. 4 Purchased furniture 2,000
Jan. 4 Placed an order for HP Printers for ₹ 15,000, amount advanced 5,000
Jan. 4 Purchased calculator 1,000
Jan. 4 Purchased computer through cheque 13,000
Jan. 6 Paid for postage 150
Jan. Sold goods for cash 4,000
8
Jan. 9 Sold goods to M/s. Sharda & Co. 10,000
Jan. 9 Paid cartage 200

MY
Jan. Paid to M/s Singh & Co. on account 17,500
15
Jan. Sold goods to M/s. Ray & Co. 5,600
25
DE
Jan. Received cheque from M/s. Sharda & Co. in full settlement of amount due 9,750
CA
27 from them
Jan. Paid for electricity charges 1,000
31
EA

Jan. Paid salary 1,500

31
NC

Jan. Paid rent of building by cheque, half of the building is used by the 5,000
31 proprietor for residential use
Jan. Drew for private use 3,500
BIE

31

Ans. :
AM

[7]
 MY
DE
CA
EA
NC
BIE
AM

6. Journalise the following entries:

i. Goods costing ₹ 500 given as charity.

[8]
 ii. Sold goods to Mayank of ₹ 1,00,000, payable 25% by cheque at the time of sale
and balance after 30 days of sale.
iii. Received ₹ 975 from Harikrishna in full settlement of his account of ₹ 1,000.
iv. Received a first and final dividend of 60 paise in a rupee from the Official
Receiver of Rajan, who owed us ₹ 1,000.
v. Charge interest on Drawings ₹ 1,500.
vi. Sold goods costing ₹ 40,000 to Anil for cash at a profit of 25% on cost less 20%
trade discount and paid cartage ₹ 100, which is not to be charged from
customer.

Ans. :

MY
DE
CA
EA
NC
BIE
AM

7. Journalise the following:

201
7

[9]
 Marc Purchased building for ₹ 1,50,000 and incurred expenses of ₹ 10,000 on its
h 4 purchase.
Marc Satish who owed us ₹ 20,000 is declared insolvent and 60 paise per ₹ is received
h 10 from his estate.
Marc Paid ₹ 500 for repairing the office furniture.
h 15
Marc Proprietor withdrew for his personal use cash ₹ 5,000 and goods worth ₹ 2,000.
h 18
Marc Purchased the following items for business: Iron Safe ₹ 15,000; Filing Cabinet ₹
h 20 5,000; Computer ₹ 12,000; Postage ₹ 200 and Stationery ₹ 150
Marc Paid electricity charges ₹ 1,600.
h 28
Marc Charge depreciation on Machinery @ 10% for one year (Machinery ₹ 75,000).
h 31
Marc Outstanding wages at the end of the year ₹ 6,000.
h 31

Ans. :

MY
DE
CA
EA
NC
BIE
AM

[10]
 MY
DE
CA
EA
NC
BIE
AM

8. Pass entries in the books of Devdhar & Bros. Odisha, assuming all transactions have
been entered within the state, charging CGST and SGST @ 9% each:
2018

[11]
 March 4 Purchased goods for ₹ 5,00,000 from Sunil Bros.
March 7 Goods returned to Sunil Bros. for ₹ 20,000
March 10 Sold goods to Mehta & Co. for ₹ 8,00,000
March 12 Goods returned by Mehta & Co. for ₹ 30,000
March 20 Goods withdrawn by Proprietor for personal use ₹ 10,000
March 25 Goods distributed as free samples ₹ 5,000
March 26 Paid advertisement expenses by cheque ₹ 20,000
March 31 Payment made of balance amount of GST.

Ans. :

MY
DE
CA
EA
NC
BIE
AM

[12]
9. Prepare a Cash Book with Cash and Bank columns from the following information for
the month of December 2011 in the Books of O'Neil:
20
16
De Cash in Hand ₹ 2,780; Bank Overdraft ₹ 3,125

MY
c.
1
De Cheque worth ₹ 400 issued to the petty cashier
c. DE
2
CA
De ₹ 350 was paid to Hari & Sons for the supply of stationery on this day
c.
5
EA

De Received a cheque worth ₹ 600 from Pramod against sale of goods

c.
7
NC

De Received ₹ 1,200 for sale of goods

c.
BIE

10
De The cheque which was received from Pramod on 7th December was endorsed as
c. favour of Morgan together with ₹ 1,400 in cash
AM

11
De Received ₹ 950 from Sheila
c.
15
De Murarilal paid ₹ 2,000 in cash and ₹ 3,000 in cheque after receiving a discount of ₹
c. 200 for goods sold to him in November. The cheque was immediately deposited
23 into the Bank
De Bought goods worth ₹ 1,700 from Rustom and paid by cheque after receiving a
c. discount of ₹ 170
26
De Interest on overdraft ₹ 50 was charged by the Bank
c.
30
De Cash in excess of ₹ 1,000 was deposited into the Bank
c.
30

[13]
 Ans. :

Working Notes:
WN 1:

MY
DE
CA
EA
NC

WN 2: Cash Deposited into the Bank,

BIE

Cash Deposited into the Bank = Total of Cash Column (Dr. side) - (Total of Cash Column (Cr.
side) + Cash balance maintained)
AM

Cash Deposited into the Bank = 6,930 - (1,750 + 1,000) = ₹ 4,180

SECTION B () questions of 4 marks each. [0]

1. Prepare Returns Inward and Return Outward Books of Manoj, Mumbai from the following
transactions and post them into Ledger Accounts:

[14]
 Ans. :
AM
BIE
NC
EA
CA
DE
MY
 MY
SECTION B () questions of 6 marks each. [0]
2. DE
Determine the missing values of the Cash Book with Bank Column of Poushali on the
basis of following transactions:
CA
201 ₹
9
Marc Cash in Hand 2,20
EA

h1 ,000
Cash at Bank 60,0
00
NC

Marc Deposited in Bank 80,0

h3 00
BIE

Marc Goods purchased and issued a cheque for the same 34,0
h4 00
Marc Cash Purchases 16,0
AM

h7 00
Marc Paid Commission by cheque 12,0
h8 00
Marc Withdrew from bank for personal use 2,50
h9 0
Marc Received from Ved in full settlement of his account of ₹ 6,000, half
h 12 of the amount was deposited into bank on the same day
Marc Interest collected by Bank 14,0
h 16 00
Marc Cash Sales 42,0
h 20 00
Marc Salaries paid 40,0
h 22 00
Marc Goods sold to Mona & Co. 36,0
h 22 00
Marc Received cheque from Mona & Co. after discount of ₹ 300 35,0
h 23 00
 Marc Deposited the cheque received from Mona & Co. into Bank
h 26

Ans. :

MY
DE
CA
EA

Notes:
1. Goods sold to Mona & Co. on 22nd March, 2019 is not recorded in Cash Book, it
NC

being a credit sales.

2. Cheque received from Mona & Co. for 35,700 on 23rd March, 2019 will be
BIE

recorded in the Journal Proper:

Cheques in Hand A/C Dr. ₹ 35,700
Discount Allowed A/C Dr. ₹ 300
AM

To Mona & Co. ₹ 36,000

When the cheque is deposited into bank (26th March, 2019) it will be recorded in the
Bank column on the debit side of Cash Book.

3. Prepare Two-column Cash Book from the following transactions of Mani, Kochi:
201
9
Mar Cash in Hand ₹ 15,000; Cash at Bank ₹ 5,000
ch 1
Mar Purchased goods for cash ₹ 6,720 including CGST and SGST @ 6% p.a; received
ch 3 discount of ₹ 220
Mar Deposited into bank ₹ 5,000
ch 5
Mar Cash sales ₹ 10,000 plus CGST and SGST @ 6% each
ch 7
 Mar Cash withdrawn from Bank for Office use ₹ 2,000
ch
10
Mar Received three months post dated cheque of ₹ 20,000 from Raj and deposited in
ch the bank on the same day, discounted from bank paying discounting charges ₹
15 750
Mar Received cheque from Deepak for ₹ 5,000 (not banked), allowed discount ₹ 200
ch
18
Mar Cheque received from Deepak deposited in Bank
ch
20
Mar Paid to Chandra by cheque ₹ 2,500; received discount ₹ 100
ch
22
Mar Withdrew from bank for personal use ₹ 1,000
ch
25

MY
Mar Sold goods on credit to Ashok Mitra, Kolkata ₹ 10,000, charged IGST @ 12%
ch
28 DE
Mar Purchased goods on credit from Chander, Delhi ₹ 20,000, paid IGST @ 12%
ch
CA

30
Mar Received cheque from Ashok Mitra ₹ 5,000 and deposited in bank, allowed cash
EA

ch discount ₹ 200
31

Ans. :
NC
BIE
AM
AM
BIE

----- -----
NC
EA
CA
DE
MY