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11th Standard English Medium Accountancy Subject Final Accounts of Sole Proprietors - I Book Back 2 Mark Questions with Solution Part - I

11th Standard

    Reg.No. :
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Accountancy

Time : 00:30:00 Hrs
Total Marks : 10

    Part I

    5 x 2 = 10
  1. What are fixed assets?

  2. Name any two direct expenses and indirect expenses.

  3. What are the objectives of preparing trading account?

  4. Prepare trading account in the books of Sivashankar from the following figures

     Particulars   Rs   Particulars   Rs 
      Opening stock         1,500   Purchases         3,500
      Sales 4,600   Closing stock     1,300
  5. From the following balances taken from the books of Victor, prepare trading account for the year ended December 31, 2017:

     Particulars   Rs   Particulars   Rs 
      Adjusted purchases      80,000   Closing stock       7,000
      Sales 90,000   Carriage inwards    3,000
      Royalty on purchases of goods    4,000   Import duty on purchases of goods    6,000
      Octroi on purchase of goods 2,000   Dock charges on purchases 5,000
      Cost of goods manufactured 5,000    

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