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11th Standard English Medium Accountancy Subject Creative 5 Mark Questions with Solution Part - II updated Creative Questions

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

11th Standard

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Accountancy

Time : 00:30:00 Hrs
Total Marks : 50
    10 x 5 = 50

  1. Enter the following transactions in proper subsidiary books.

        Rs.
    2013,
    March1    		 Purchased goods from Balaraman 2,000
    2 Sold goods to Senthil 1,000
    3 Goods purchased from Durai 1,000
    5 Sold goods to Saravanan 700
    8 Sold goods to Senthil 500
    10 Purchased goods from Elangovan 600
    14 Purchased goods from Parthiban 300
    20 Sold goods to Sukumar 600

  2. Prepare the analytical petty cash book of Mrs. Mala from the following:

    2012, December  Rs.
    1. Cash in hand Rs.435 and Received from cashier 1,065
    4. Bought postage stamps  75
    7 Paid for stationery  135
    8 Paid to Manimaran on account  475
    13 Tea to sales agents  25
    20 Bought ink & paper 43
    21 Paid for carriage 45
    24 Sent a telegram to Madurai  25
    26 Paid for stationery 120
    29 Paid for registered post  50

  3. 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.

  4. On 31st December, 2013 the cash book of Ms. Vijayalakshmi showed an overdraft of Rs. 56,700. From the following particulars prepare the bank reconciliation statement and find out the balance as per pass book.
    (a) Cheque drawn but not casbed before 31st December, 2013 amounted to Rs. 39,460.
    (b) Cheque paid into bank but not cleared before 31st December, 2013 amounted to Rs. 48,910.
    (c) A bill receivable for Rs. 5,200 previously discounted with bank bad been dishonoured and debited in the pass book.
    (d) Debit is also made in the pass book for Rs. 1,200 on account of interest on overdues and Rs. 550 on account of charges for collecting the bills and cheques.
    (e) Bank has collected interest on investment and credited Rs. 7,600 on the pass book.

  5. Rectify the following Journal Entries.

      Particulars   Rs Rs
    (i) Purchases A/c Dr. 5,000  
           To Cash A/c     5,000
      (Purchase of furniture)      
    (ii) Anbu A/c Dr. 10,000  
            To Cash A/c     10,000
      (Salary paid to Anbu)      
    (iii) Raju A/c Dr. 3,000  
           To Cash A/c     3,000
      (Rent paid)      
    (iv) Sales A/c Dr. 10,000  
           To Cash A/c     10,000
      (Credit sale to Naresh)      
    (v) Cash A/c Dr. 15,000  
            To Babu A/c     15,000
      (Cash Sales)      

  6. Michel & Co., purchased a Second hand Plant for Rs. 4,70,000 on 1stJuly 2001. They spent Rs. 30,000 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.

  7. Kumar gives you the following expenses which were incurred in his business during the year 2003, classify them into capital, revenue or deferred revenue.
    i) Rs.12,000 spent on purchasing a patent right.
    ii) Freight charges paid on new plant amounts to Rs.700
    iii) Repairs of Rs.600 for furniture.
    iv) Rs.10,000 spent towards expenses connected with rainwater harvesting as per Government orders.
    v) Rs.7,500 spent towards initial advertising expenses.

  8. The following trial balance is extracted from the books of M/s. Ram, on 31st March, 2016. You are required to prepare trading and profit and loss account and the balance sheet as on date.

    Particulars Rs. Particulars Rs.
    Debtors 12,000 Premium 5,000
    Purchases 50,000 Bills payable 10,000
    Coal, Gas and Water 6,000 Bank overdraft 1,000
    Factory Wages 11,000 Sales 80,000
    Salaries 9,000 Creditors 13,000
    Rent 4,000 Capital 20,000
    Discount 3,000    
    Advertisement 500    
    Drawings 1,000    
    Loan 6,000    
    Petty Cash 500    
    Sales return 1,000    
    Machinery 5,000    
    Land and Building 10,000    
    Income Tax 100    
    Furniture 9,900    

  9. Trial balance of Anuradha 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.

  10. Differentiate manual accounting with computerised accounting system.

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