Ledger Model Questions

11th Standard

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Accountancy

Time : 01:00:00 Hrs
Total Marks : 50
    10 x 1 = 10
  1. If the total of the debit side of an account exceeds the total of its credit side, it means

    (a)

    Credit Balance

    (b)

    Debit Balance

    (c)

    Nil Balance

    (d)

    Debit and Credit Balance

  2. The amount brought into the business by the proprietor should be credited to

    (a)

    Cash account

    (b)

    Drawings account

    (c)

    Capital account

    (d)

    Suspense account

  3. ___________ is known as principal book of accounts because It is very useful for a business enterprise.

    (a)

    Journal

    (b)

    Ledger

    (c)

    Balance Sheet

    (d)

    Trial Balance

  4. The financial statements can be prepared from the ____________ balances.

    (a)

    ledger

    (b)

    journal

    (c)

    trial

    (d)

    none of these

  5. The ledger account is prepared in ______________ format.

    (a)

    U

    (b)

    T

    (c)

    V

    (d)

    Vertical

  6. The discount which is calculated on the list price of the goods is called__________.

    (a)

    Cash discount

    (b)

    Rebate

    (c)

    Trade discount

    (d)

    Discount

  7. Merchandise stolen by someone should be debited to_______

    (a)

    Sales account

    (b)

    Purchases account

    (c)

    Loss by theft account

    (d)

    None of the above

  8. The owner of the business takes Rs.100 cash and goods costing Rs.200 for his family. The proper journal entry for this transaction is called______.

    (a)

    drawing > debit; Cash > Credit; Purchases > Credit

    (b)

    Drawing > debit; Cash> Credit; merchandise > credit

    (c)

    Drawing > debit; Cash > credit; Sales> credit

    (d)

    cash > debit; Purchases > debit; drawings > credit

  9. Left side of the ledger account is known as

    (a)

    Credit

    (b)

    Casting

    (c)

    Voucher

    (d)

    Debit

  10. Statement: Goods bought by giving cheque Find out which of the following answer is correct.

    (a)

    Purchases A/c         Dr
               To Bank A/c

    (b)

    Bank A/c    Dr
         To Purchases A/c

    (c)

    Goods A/c        Dr
            To Bank A/c

    (d)

    Cash A/c      Dr
        To Purchases      A/c

  11. 5 x 2 = 10
  12. What is a ledger?

  13. What is meant by posting?

  14. Give the specimen of ledger account.

  15. Define Ledger.

  16. What is meant by opening entry?

  17. 5 x 3 = 15
  18. Distinguish between journal and ledger.

  19. What is ledger? Explain its utilities.

  20. 'Ledger is a principal Book of a Business' - Explain.

  21. What are the steps in posting?

  22. Explain the posting of a compound journal entry with an example.

  23. 3 x 5 = 15
  24. Give journal entries for the following transactions and post them to ledger.

    2015 Mar   Rs.
    1 Goods sold to Somu on credit 5,000
    7 Furniture purchased for cash 300
    15 Interest received 1,800
  25. Journalise the following transactions in Thiru. Kumaran books and post them to ledger.

    2013Aug.   Rs
    5 Sold goods to Arumugam on Credit 17,500
    9 Bought good for cash from Chellapan 22,500
    12 Met Travelling expenses 2,500
    15 Received 80,000 from Sivakumar as loan  
    21 Paid wages to workers 3,000
  26. The following balances appeared in the books ofVinoth on Jan 1,2018
    Assets: Cash Rs 40,000; Stock Rs 50,000; Amount due from Ram Rs 20,000;
    Machinery Rs 40,000 Liabilities: Amount due to Vijay Rs 10,000
    Pass the opening journal entry and "post them to Vinoth's Capital account.

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