New ! Accountancy MCQ Practise Tests

Books of Prime Entry Model Question Paper

11th Standard

    Reg.No. :


Time : 01:00:00 Hrs
Total Marks : 50
    5 x 1 = 5
  1. 'Cash withdrawn by the proprietor from the business for his personal use' causes ____


    Decrease in assets and decrease in owner's capital


    Increase in one asset and decrease in another asset


    Increase in one asset and increase in liabilities


    Increase in asset and decrease in capital

  2. Real account deals with ______


    Individual persons


    Expenses and losses




    Incomes and gains

  3. In double entry system of book keeping, every business transaction affects ______


    Minimum of two accounts


    Same account on two different dates


    Two sides of the same account


    Minimum three accounts

  4. ____________ are recorded as and when they take place with the written and authentic proof.


    Accounting equations






    Book keeping

  5. _______ is prepared in duplicate and the original is sent to the seller.


    Debit Note


    Credit Note




    None of these

  6. 5 x 2 = 10
  7. What is meant by journalising?

  8. How are personal accounts classified?

  9. State the accounting rule for nominal account

  10. What is meant by Opening Journal Entry?

  11. How will you record Rs 5,000 paid for installation charges paid on new machine bought?

  12. 5 x 3 = 15
  13. What is the accounting treatment for insurance premium paid on the life of the proprietor?

  14. Briefly explain about steps in journalising.

  15. State the different approaches in recording business transactions.

  16. Point out the nature of the following Accounts.
    a) Capital A/c;
    b) Drawings A/c;
    c) Machinery A/c;
    d) Purchases A/c;
    e) Wages A/c;
    f) Bank A/c;
    g) Outstanding rent A/c
    h) Prepaid insurance A/c;
    i) Bad debts A/c

  17. Show the accounting equation on the basis of the following:
    (a) Started business with cash Rs 60,000
    (b) Goods bought on credit from Ramesh Rs 20,000
    (c) Purchased furniture for cash Rs 15,000
    (d) Paid creditors by cash Rs 500

  18. 4 x 5 = 20
  19. Prepare accounting equation for the following transactions.
    (a) Murugan commenced business with cash Rs.80,000
    (b) Purchased goods for cash Rs.30,000
    (c) Paid salaries by cash Rs.5,000
    (d) Bought goods from Kumar for Rs.5,000 and deposited the money in CDM.
    (e) Introduced additional capital of Rs.10,000

  20. What will be the effect of the following on the accounting equation?
    (a) Sunil started business with Rs.1,40,000 cash and goods worth Rs.60,000
    (b) Purchased furniture worth Rs.20,000 by cash
    (c) Depreciation on furniture Rs.800
    (d) Deposited into bank Rs.40,000
    (e) Paid electricity charges through net banking Rs.500
    (f) Sold goods to Ravi costing Rs.10,000 for Rs.15,000
    (g) Goods returned by Ravi Rs.5,000

  21. Show the effects of the following business transactions on the accounting equation.

    i) Anitha started business with cash Rs.20,000; goods Rs.12,000 and machine 8,000
    ii) Bought goods for cash 6,000
    iii) Sold goods costing Rs.2,000 for 2,500
    iv) Purchased goods from Ramani on credit 7,000
    v) Payment made to Ramani in full settlement 6,900
    vi) Sold goods to Rajan on credit costing Rs.5,400 for 20,000
    vii) Received from Rajan 5,800 in full settlement of his account 6,000
    viii) Salaries paid 4,000
    ix) Wages Outstanding 400
    x) Prepaid Insurance 100
  22. Journalise the follow ing transactions in the books of Tmt. Jaya. 2016

    2016 Jan   Rs
    1 Tmt. Jaya commenced business with cash 50,000
    2. Purchased goods for cash 10,000
    5 Purchased goods from Mohan on credit 6,000
    7 Paid into Bank 5,000
    10 Purchased furniture 2,000
    20 Sold goods to Suresh on credit 5,000
    25 Cash Sales 3,500
    26 Paid to Mohan ·on account 3,000
    31 Paid salaries 2,800


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