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Full Portion Five Marks Question Paper

11th Standard

    Reg.No. :
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Accountancy

Time : 02:00:00 Hrs
Total Marks : 100
    20 x 5 = 100
  1. 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

  2. Record the following transactions in the journal of Tmt. Bhanumathi.

    2016 Feb   Rs
    3 Bought goods for cash 84,500
    7 Sold goods to Dhanalakshmi on credit 55,000
    9 Received commission 3,000
    10 Cash Sales 1,09,000
    12 Bought goods from Mahalakshmi 60,000
    15 Received five chairs from Revathi & Co. at Rs. 400 each  
    20 Paid Revathi & CO., cash for five chairs  
    28 Paid Salaries 10,000
      Paid Rent 5,000
  3. Journalise the following transactions of Mr. Moorthi.

    2014, June 3 Received cash from Ramkumar Rs 60,000
      4 Purchased goods for cash Rs 15,000
      11 Sold goods to Damodaran Rs 22,000
      13 Paid to Ramkumar Rs 40,000
      17 Received from Damodaran Rs 20,000
  4. Prepare Purchases book and Sales book in the books of Santhosh Textiles Ltd., from the following transactions given for April 2017.

     2017 April 1   Purchased goods from Prasad, Kancheepuram on credit 
        100 meters Silk @ Rs 450 per meter
        75 meters Velvet @ Rs 180 per meter
     April 10   Sold goods to Rathinam, Chennai on credit
        60 meters Silk @ Rs 490 per meter
        50 meters Velvet @ Rs 210 per meter
    April 18   Nathan & Sons purchased from us on credit
        100 meters Silk @ Rs 510 per meter
    April 20   Purchased goods from Hari Ram & Sons, Madurai on credit  
         50 rolls kada cloth @ Rs 730 per roll
        80 rolls cotton cloth @ Rs 650 per roll
    April 24   Purchased from Mohan, Karur for cash
         Shirting cloth @ Rs 7,000
        Sarees @ Rs 25,000
  5. Enter the following transactions in the purchases returns book of Hari who is dealing in automobiles and post them into the ledger.

     2017   
     Jan 5   Returned to Anand 5 clutch plates @ Rs 200 each, not in accordance with order. 
     Jan 14   Returned to Chandran 4 brake shoes @ Rs 200 each and 10rear view mirrors @ Rs 350 each, due to inferior quality.
  6. From the following transactions prepare three column cash book of Udhayakumar

    2017   Rs
    Sep 1 Cash balance 25,000
    1 Bank Balance (cr.) 13,070
    3 Paid into bank 15,000
    4

    Received cash from Shyamala & Co...
    Discount allowed to them Rs 120

    9380
    10 Goods sold for cash 7,600
    11 Cash purchases 11,750
    12 Gave Padma a Cheque for Rs 2 I,375 and was allowed a discount of 125
    18 Purchased a printer by cheque 7,600
    23 Received cash from Rajasekar 
    Discount allowed to him Rs 180
    14,320
  7. How are postings made from the cash book?

  8. Prepare bank reconciliation statement from the following data and find out the balance as per
    cash book as on 31st March,2018.

    Particulars Rs
    (i) Bank balance as per bank statement 15,000
    (ii) Cheques issued but not yet presented for payment 2,500
    (iii) Bank charges not recorded in the cash book 250
    (iv) Interest charged by bank not recorded in the cash book 500
    (v) Bank paid insurance premium as per standing instruction but not recorded in the cash book  300
    (vi) Cheques deposited but not yet credited 900
  9. On 31st December 2013 the pass book of Ms. Chandrika shows a credit balance of Rs 3,357. The cheques sent to the bank but not collected and credited amounted to Rs 790 and three cheques drawn for Rs 300, Rs 150 and Rs 200 respectively were not presented for payment till 31st January 2014.
    Bank has paid a bill payable amounting to Rs 1,000 but it has not been entered in the cash book and a bill receivable of Rs 500 which was discounted with the bank was dishonored by the drawer on due date.
    The Bank has charged Rs 12 as its commission for collecting outstation cheques and has allowed interest Rs 10 on the trader's balance.
    Prepare a Bank Reconciliation statement and show the balance as per cash book.

  10. A trader received his bank statement on 31st December, 2017 which showed an overdraft balance of Rs 12,000. On the same day, his cash book showed a debit balance of Rs 2,000.
    Analyse the following transactions. Choose the possible causes and prepare a bank reconciliation statement to show the causes of differences.
    (a) Cheque deposited for Rs 2,000 on 21st December, 2017. Bank credited the same on 26th December, 2017.
    (b) Cheque issued for payment on 26th December, 2017 amounting to Rs 2,500, not yet presented until 31st, December, 2017.
    (c) Bank charges amounting to Rs 200 not yet entered in the cash book.
    (d) Online payment for Rs 1,500 entered twice in the cash book.
    (e) Cheque deposited amounting to Rs 1,000, but omitted in the cash book. The same cheque was dishonoured by bank, but not yet entered in cash book.
    (f) Cheque deposited, not yet credited by bank amounting to Rs 17,800.

  11. From the following particulars prepare the Bank Reconciliation Statement of Mr. Avinash. His cash book shows Rs 50,000 as bank balance on 31.07.2013.
    (a) Cheque issued but not presented for payment Rs 10,000.
    (b) Cheque paid into bank-but not cleared Rs.15,000.
    (c) Bank charges Rs 2,000 entered in the pass book.
    (d) Interest allowed by the bank Rs 1,500.
    (e) Interest charged by the bank Rs 3,000.
    (j) Dividend collected by the bank Rs 4,000.
    (g) Debtors directly paid into bank Rs 5,000.
    (h) Cheques dishonoured for Rs 1,000 entered in the pass book.
    (I) Wrong credit made by the banker Rs 500.
    (j) Wrong debit made by the banker Rs 600.
    (k) Bills receivable collected by the banker Rs 5,000.
    (I) Bills payable paid by the. banker Rs 2,500.
    (m) Bills receivable worth Rs 750 discounted on 1st July'2013 dishonoured

  12. Pass journal entries to rectify the following errors located after the preparation of the trial balance. Assume that there exists a suspense account.
    (a) The total of sales book was undercast by Rs 2,000.
    (b) The purchase of machinery for Rs 3,000 was entered in the purchases book.
    (c) A credit sale of goods for Rs 450 to Mathi was posted in his account as Rs 540.
    (d) The purchases returns book was overcast by Rs 200.
    (e) The total of sales book Rs 1,122 were wrongly posted in the ledger as Rs 1,222.

  13. A manufacturing company purchased on 1 April, 2010, a plant and machinery for Rs 4,50,000 and spent Rs 50,000 on its installation. After having used it for three years, it was sold for Rs 3,85,000. Depreciation is to be provided every year at the rate of 15% per annum on the fixed instalment method. Accounts are closed on 31st March every year. Calculate profit or loss on sale of machinery.

  14. Michel & Co., purchased a Second hand Plant for Rs 4,70,000 on 1stJuly 2001. They spent Rs30,000 on the repairs and installed the Plant. Depreciation is written off at 10% p.a. on the Straight line method. On 30th September 2003, the Plant was found to be unsuitable and sole for Rs 3,50,000.
    Prepare Plant account and Depreciation account for three years assuming that the accounts are closed on 31st March.every year.

  15. From the following balances obtained from the books of Mr. Ganesh, prepare trading and profit and loss account.

     Particulars   Rs   Particulars   Rs 
      Stock on 01.01.2017        8,000   Bad debts     1,200
      Purchases for the year     22,000   Trade expenses    1,200
      Sales for the year 42,000   Discount allowed 600
      Expenses on purchases     2,500   Commission allowed    1,100
      Financial charges paid  3,500   Selling expenses 600
      Expenses on sale 1,000   Repairs on office vehicles   600

    Closing stock on December 31.12.2017 was Rs. 4,500.

  16. An abstract of the trial balance as on 31st December, 2016 is as follows:
    Particulars 
    Sundry Debtors 20,000
    Bad debts 500
    Adjustment: Create a provision for bad and doubtful debts @ 5% on sundry debtors. Pass the adjusting entry and show how these items will appear in final accounts.

  17. Following are the ledger balances of Devi as on 31st December, 2016.

     Debit balance   Rs.   Credit balance   Rs. 
      Purchases      35,000   Goodwill     40,000
      Salaries 11,750   Sundry debtors    20,500
      Drawings 4,500   Furniture 31,000
      Opening Stock    6,250   General expenses    3,250
      Capital 50,000   Commission received    2,750
      Sales 78,500   Loan 44,000
      Carriage inwards    21,800   Cash at bank  3,100
      Bad debts 600   Provision for bad debts    2,500

    Prepare trading and profit and loss account for the year ended 31st December, 2016 and balance sheet as on that date.
    (a) Stock on 31st December, 2016 Rs. 5,800.
    (b) Write off bad debts Rs. 500.
    (c) Make a provision for bad debts @ 5%.
    (d) Provide for discount on debtors @ 2%.

  18. Trial balance ofAnuradha agencies as on 31-03-2012.

    Debit balances Amount Rs. Credit balances Amount Rs.
    Drawings 1,800 Capital 80,000
    Buildings 15,000 General reserve 20,000
    Furniture & Fittings 7,500 Loan from Hari @ 6% 15,000
    Computer 25,000 Sales 1,00,000
    Interest on loan 900 Commission received 7,500
    Loose tools 6,100 Sundry creditors 10,000
    Purchases 75,000    
    Stock on 1-4-2011 25,000    
    General expenses 15,000    
    Freight inward 2,000    
    Freight outward 1,000    
    Sundry debtors 28,000    
    Bank 20,200    
    Goodwill 10,000    
      2,32,500   2,32,500

    Adjustments:
    (i) Closing stock is Rs.32,000
    (ii) Depreciate computer @ 10%; buildings @5%; furniture and fittings @ 10%
    (iii) Provide for bad and doubtful debts @ 5% and for-discount on debtors @ 2%
    (iv) Provide interest on drawings @ 6% and on capital @ 8% •.
    Prepare final accounts for the said period after giving effect to the adjustments.

  19. The total sales volume (Product wise) of TECH Ltd for the year 2016-2017 is given below:

    Product Sales
    Toothpaste 22000
    Toothbrush 11000
    Hair Oil 9000
    Shampoo 13000
    Toilet Soap 9500

    a) Present the data in a column chart
    b) Change the chart type to line chart.

  20. Explain the components of computerised accounting system.

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