Ledger Book Back Questions

11th Standard

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Accountancy

Time : 00:45:00 Hrs
Total Marks : 30
    5 x 1 = 5
  1. Main objective of preparing ledger account is to _________

    (a)

    Ascertain the financial position

    (b)

    Ascertain the profit or loss

    (c)

    Ascertain the profit or loss and the financial position

    (d)

    Know the balance of each ledger account

  2. The process of transferring the debit and credit items from journal to ledger accounts is called _____________..

    (a)

    Casting

    (b)

    Posting

    (c)

    Journalising

    (d)

    Balancing

  3. J. F. means ___________

    (a)

    Ledger page number

    (b)

    Journal page number

    (c)

    Voucher number

    (d)

    Order number

  4. 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

  5. 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

  6. 3 x 2 = 6
  7. What is a ledger?

  8. What is debit balance?

  9. What is balancing of an account?

  10. 3 x 3 = 9
  11. Distinguish between journal and ledger.

  12. Explain the procedure for balancing a ledger account.

  13. On 15th March 2017, Ramesh paid Rs 13,800 in full settlement of his account Rs 15,000 due to his creditor Dinesh. Pass journal entry and prepare ledger accounts.

    In the books of Ramesh Journal entry
     Date   Particulars   L.F.   Debit Rs   Credit Rs 
        2017        
     March 15    Dinesh A/c    Dr.   15,000  
        To Cash A/c     13,800
        To Discount received A/c         1,200
       (Paid Dinesh in full settlement of his account)        
  14. 2 x 5 = 10
  15. 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
  16. The following are the transactions of Kumaran, dealing in stationery items. Prepare ledger accounts.

     2017   
     June 5   Started business with cash Rs 2,00,000  
    8   Opened bank account by depositing Rs 80,000  
    12   Bought goods on credit from Sri Ram for Rs 30,000   
    15   Sold goods on credit to Selva for Rs 10,000
    22   Goods sold for cash Rs 15,000
    25   Paid Sri Ram Rs 30,000 through NEFT
    28   Received a cheque from Selva and deposited the same in bank Rs 10,000   

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