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11th Standard English Medium Accountancy Subject Book Back 5 Mark Questions with Solution Part - II

11th Standard

    Reg.No. :
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Accountancy

Time : 00:30:00 Hrs
Total Marks : 50

    Part I

    10 x 5 = 50
  1. 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

  2. Show the direct ledger postings for the following transactions:

    2017 June   Rs.
    1 Raja commenced business with cash 50,000
    6 Sold goods for cash   8,000
    8 Sold goods to Devi on credit   9,000
    15 Goods purchased for cash  4,000
    20 Goods purchased from Shanthi on credit   5,000
  3. From the following balances of Rohini, prepare the trial balance as on 31.03.2018.

      Rs   Rs
    Capital 60,000 Sales 82,000
    Dlscount received 3,250 Lighting 800
    Purchases 58,000 Drawings 5,250
    Plant and machinery 40,000 Car expenses 1,200
    Advertising expenses 5,000 Motor car 35,000
  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 a single column cash book of Ramalingam for month of July, 2017.

      Particulars Rs
    July 1 Cash in hand 32,000
    5 Received from Keerthana 5,000
    6 Paid packing charges in cash 300
    7 Cash purchases 12,400
    8 Sold goods for cash 2,600
    10 Paid salary to manager in cash 7,000
    11 Paid to Bala 3,000
    12 Purchased goods from Bose 2,500
    24 Cash deposited into bank through CDM 4,000
    27 Withdraw cash from bank 2,000
    31 Paid office rent in cash 6,000
  6. From the following information, prepare bank reconciliation statement as on 31st December, 2017 to find out the balance as per bank statement.

    Particulars Rs
    (i) Bank overdraft as per cash book 20,000
    (ii) Cheques deposited but not yet credited 4,000
    (iii) Cheque issued but not yet presented for payment 1,000
    (iv) Rent collected by the bank as per standing instruction 500
    (v) Interest on overdraft debited by bank 2,000
    (vi) Amount wrongly debited by bank 300
    (vii) Cheque issued on 30th December 2017 dishonoured by the bank 5,000
    (viii) A customer's cheque deposited in the bank dishonoured by bank not recorded in the book 2,000
  7. The accountant of a firm located the following errors before preparing the trial balance. Rectify them.
    (a) Machinery purchased for Rs.3,000 was debited to purchases account.
    (b) Interest received Rs.200 was credited to commission account.
    (c) An amount of Rs.1,000 paid to Tamilselvan as salary was debited to his personal account.
    (d) Old furniture sold for Rs.300 was credited to sales account.
    (e) Goods worth Rs.800 purchased from Soundarapandian on credit was not recorded in the books of accounts.

  8. On 1st January 2015, a second hand machine was purchased for Rs. 58,000 and Rs. 2,000 was spent on its repairs. On 1st July 2017, it was sold for Rs. 28,600. Prepare the machinery account for the years 2011 to 2013 under written down value method by assuming the rate of depreciation as 10% p.a. and the accounts are closed on 31st December every year.

  9. Identify the following items into capital or revenue.
    i) Audit fees paid  Rs.10,000.
    ii) Labour welfare expenses Rs.5,000.
    iii) Rs.2,000 paid for servicing the company vehicle.
    iv) Repair to furniture purchased second hand Rs.3,000.
    v) Rent paid for the factory Rs.12,000

  10. From the following information, prepare profit and loss account for the year ending 31st December 2016.

     Particulars   Rs   Particulars   Rs 
      Gross loss     60,000   Printing and stationery (office)      2,000
      Promotional expenses    5,000   Legal charges 5,000
      Distribution expenses       15,000   Bad debts 1,000
      Commission paid 7,000   Depreciation 2,000
      Interest on loan paid 5,000   Rent received 4,000
      Packing charges (on sales)    4,000   Loss by fire not covered by insurance    3,000
      Dividend received 3,000     

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