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11th Standard English Medium Accountancy Subject Books of Prime Entry Book Back 5 Mark Questions with Solution Part - II Question Bank Software Jun-09 , 2021

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

11th Standard English Medium Accountancy Subject Books of Prime Entry 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 : 25

    Part I

    5 x 5 = 25

  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. Create an accounting equation on the basis of the following transactions:
    (i) Rakesh started business with a capital of Rs.1,50,000
    (ii) Deposited money with the bank Rs.80,000
    (iii) Purchased goods from Mahesh and paid through credit card Rs.25,000
    (iv) Sold goods (costing Rs.10,000) to Mohan for Rs.14,000 who pays through debit card
    (v) Commission received by cheque and deposited the same in the bank Rs.2,000
    (vi) Paid office rent through ECS Rs.6,000
    (vii) Sold goods to Raman for Rs.15,000 of which Rs.5,000 was received at once

  3. Create accounting equation on the basis of the following transactions:
    (i) Opening balance on pt January, 2018 cash Rs.20,000; stock Rs.50,000 and bank Rs.80,000
    (ii) Bought goods from Suresh Rs.10,000 on credit
    (iii) Bank charges Rs.500
    (iv) Paid Suresh Rs.9,700 through credit card in full settlement.
    (v) Goods purchased on credit from Philip for Rs.15,000
    (vi) Goods returned to Philip amounting to Rs.4,000

  4. Pass journal entries in the books of Sasi Kumar who is dealing in automobiles

    2017 Oct.   Rs
    1 Commenced business with goods 40,000
    3 Cash introduced in the business 60,000
    4 Purchased goods from Arul on credit 70,000
    6 Returned goods to Arul 10,000
    10 Paid cash to Arul on account 60,000
    15 Sold goods to Chandar on credit 30,000
    18 Chandar returned goods worth 6,000
    20 Received cash from Chandar in full settlemen 23,000
    25 Paid salaries through ECS 2,000
    30 Sahil took for personal use goods worth 10,000

  5. Karthick opened a provisions store on pt April, 2017. Journalise the following transactions in his books:

    2017 April   Rs
    1 Paid into bank for opening a current account 2,00,000
    3 Goods purchased by cheque 40,000
    5 Investments made in securities 40,000
    6 Goods sold to Radha for Rs.20,000 and cheque received and deposited into bank  
    7 Amount withdrawn from bank for office use 15,000
    10 Purchased goods from Kamala and cash deposited in CDM 10,000
    12 Sold goods to Vanitha who paid through debit card 10,000
    15 Interest on securities directly received by the bank 1,000
    20 Insurance paid by the bank as per standing instructions 2,000
    25 Sales made to Kunal who made payment through CDM 6,000

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