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Accountancy - Accounts From Incomplete Records 3 Mark Creative Question Paper With Answer Key

12th Standard

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Accountancy

Time : 01:00:00 Hrs
Total Marks : 21

    3 Marks

    7 x 3 = 21
  1. Radhika started a small bakery for providing healthy and good quality bakery product at reasonable prices on 1st January, 2019 with a capital of Rs. 1,80,000. She appointed a ten year old boy as a sweeper. She withdrew Rs. 60,000 for household expenses. She introduced Rs. 20,000as fresh capital. Her position of assets and liabilities as at 31st December, 2019 stood as follows.

      Rs.
    Cash in hand 70,000
    Stock 80,000
    Bills receivable 1,00,000
    Debtors 1,50,000
    Creditors 60,000
    Bills payable 10,000
  2. Which values are affected, when accounts are maintained on single entry system basis.

  3. Definition of single entry system?

  4. Calculate the profit from the following information

    Particulars Amt(Rs.)
    Opening capital 1,60,000
    Closing capital 1,80,000
    Drawings 36,000
    Additional capital 10,000
  5. Calculate opening capital:

    Particulars Amt(Rs.)
    Closing Capital Rs. 1,63,800
    Additional Capital Rs. 42,300
    Drawing: 25,200
    Loss: 12,600
  6. Calculate the missing figure:

    Particulars Amt(Rs.)
    Drawing: 50,000
    Addition Capital 10,000
    Qpening Capital 1,00,000
    Profit 25,000
  7. Joseph maintain books in single entry following details give for his book:

    Particulars January December
    Cash in hand 40,000 60,000
    Cash at bank 20,000 40,000
    Stock 2,40,000 2,40,000
    Furniture 60,000 1,00,000
    Debtors 2,00,000 2,50,000
    Creditors 10,000 1,40,000

    'He has taken 40,000 from the business for personal Exp Depreciate furniture by 10% Prepare a Statement showing.

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