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Accounts From Incomplete Records- 5 marks

12th Standard EM

    Reg.No. :
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Accountancy

Answer the following question:
Time : 01:30:00 Hrs
Total Marks : 75
    Part-A
    15 x 5 = 75
  1. Ahmed does not keep proper books of accounts. Find the profit or loss made by him for the
    year ending 31st March, 2018.

    Particulars 1.4.2017
    Rs
    31.3.2018
    Rs
    Bank balance 14,000 (Cr.) 18,000 (Dr.)
    Cash in hand 800 1,500
    Stock 12,000 16,000
    Debtors 34,000 30,000
    Plant 80,000 80,000
    80,000 40,000 40,000
    Creditors 60,000 72,000

    Ahmed had withdrawn 40,000 for his personal use. He had introduced Rs.16,000 as capital for expansion of his business. A provision of 5% on debtors is to be made. Plant is to be depreciated at 10%.

  2. From the following details you are required to calculate credit sales and credit purchases by preparing total debtors account, total creditors account, bills receivable account and bills payable account.

    Particulars Opening
    Rs.
    Closing
    Rs.
    Debtors 60,000 55,000
    Bills receivable 5,000 1,000
    Creditors 25,000 28,000
    Bills payable 2,000 3,000
    Other information    
    Cash received from debtors   1,30,000
    Discount allowed to customers   5,500
    Cash paid to creditors   70,000
    Discount allowed by suppliers   3,500
    Payments against bill payable   7,000
    Cash received for bills receivable   14,000
    Bills receivable dishonoured   1,200
    Bad debts   3,500
  3. From the following details of Abdul who maintains incomplete records, prepare Trading and Profit and Loss account for the year ended 31st March, 2018 and a Balance Sheet as on the date.

    Particulars 1.4.2017
    Rs.
    31.3.2018
    Rs.
    Stock 1,00,000 50,000
    Sundry debtors 2,50,000 3,50,000
    Cash 25,000 40,000
    Furniture 10,000 10,000
    Sundry creditors 1,50,000 1,75,000
    Other details:
      Rs.   Rs.
    Drawings 40,000 Cash received from debtors 5,35,000
    Discount received 20,000 Sundry expenses 30,000
    Discount allowed 25,000 Capital as on 1.4.2017 2,35,000
    Cash paid to creditors 4,50,000    
  4. Bharathi does not maintain her books of accounts under double entry system. From the following details prepare trading and profit and loss account for the year ending 31st March, 2019 and a balance sheet as on that date.

    Dr.     Cash Book       Cr.
    Receipts Rs. Payments Rs.
    To balance b/d 32,000 By Purchases A/c 56,000
    To Sales A/c 1,60,000 By Creditors A/c 80,000
    To Debtors A/c 1,20,000 By General expenses A/c 24,000
        By Wages A/c 10,000
        By Balance c/d 1,42,000
      3,12,000   3,12,000
    Particulars 1.4.2018
    Rs.
    31.3.2019
    Rs.
    Stock of goods 40,000 60,000
    Debtors 38,000 ?
    Creditors 58,000 52,000
    Machinery 1,70,000 1,70,000

    Additional information: 
    (i) Credit purchases 74,000
    (ii) Credit sales 1,40,000
    (iii) Opening capital 2,22,000
    (iv) Depreciate machinery by 10% p.a.

  5. Arjun carries on grocery business and does not keep his books on double entry basis. The following particulars have been extracted from his books:

    Particulars 1-4-2018
    Rs.
    31-3-2019
    Rs.
    Plant and machinery 20,000 20,000
    Stock 9,000 16,000
    Sundry debtors 2,000 5,300
    Sundry creditors 5,000 4,000
    Cash at bank 4,000 6,000

    Other information for the year ending 31-3-2019 showed the following

      Rs.
    Advertising 4,700
    Carriage inwards 8,000
    Cash paid to creditors 64,000
    Drawings 2,000

    Total sales during the year were Rs.85,000. Purchases returns during the year were Rs.2,000 and sales returns were Rs.1,000. Depreciate plant and machinery by 5%. Provide Rs.300 for doubtful
    debts. Prepare trading and profit and loss account for the year ending 31st March, 2019 and a
    balance sheet as on the date.

  6. Pandian does not keep his books under double entry system. From the following information prepare trading and profit and loss account 

      1-1-2018
    Rs.
    31-12-2018
    Rs.
    Furniture 30,000 30,000
    Cash in hand 10,000 17,000
    Debtors 40,000 60,000
    Stock 28,000 11,000
    Bills receivable 12,000 35,100
    Bank loan 25,000 25,000
    Creditors 15,000 16,000
      Rs.   Rs.
    Cash sales 11,200 Credit sales 88,800
    Cash purchases 4,250 Credit purchases 35,750
    Carriage on purchases 3,000 Carriage on sales 700
    Commission received 600 Interest on bank loan 2,500
    Drawings 8,000 Additional capital 14,000
    Salaries 8,900 Office rent 2,400

    Adjustments:
    Write off depreciation of 5% on furniture. Create a provision of 1% on debtors for doubtful debts.

  7. Ananth does not keep his books under double entry system. Find the profit or loss made by him for the year ending 31st March, 2019.

    Particulars 31.3.2018
    Rs.
    31.3.2019
    Rs.
    Cash at Bank 5,000 (Dr.) 60,000 (Cr.)
    Cash in hand 3,000 4,500
    Stock of goods 35,000 45,000
    Sundry Debtors 1,00,000 90,000
    Plant and Machinery 80,000 80,000
    Land and Buildings 1,40,000 1,40,000
    Sundry Creditors 1,70,000 1,30,000

    Ananth had withdrawn Rs.60,000 for his personal use. He had introduced Rs.17,000 as capital for expansion of his business. Create a provision of 5% on debtors. Plant and machinery is to be depreciated at 10%.

  8. From the following details you are required to calculate credit sales and credit purchases by preparing total debtors account, total creditors account, bills receivable account and bills payable account

    Particulars Rs. Particulars Rs.
    Balances as on 1st April 2018   Balances as on 31st March 2019  
    Sundry debtors 2,40,000 Sundry debtors 2,20,000
    Bills receivable 30,000 Sundry creditors 1,50,000
    Sundry creditors 1,20,000 Bills receivable 8,000
    Bills payable 10,000 Bills payable 20,000
    Other information Rs.    
    Cash received from debtors 6,00,000 Payments against bill payable 30,000
    Discount allowed to customers 25,000 Cash received for bills receivable 60,000
    Cash paid to creditors 3,20,000 Bills receivable dishonoured 4,000
    Discount allowed by suppliers 10,000 Bad debts 16,000
  9. From the following details of Rakesh, prepare Trading and Profit and Loss account for the year ended 31st March, 2019 and a Balance Sheet as on that date.

    Particulars 31.3.2018
    Rs.
    31.3.2019
    Rs.
    Stock of goods 2,20,000 1,60,000
    Debtors 5,30,000 6,40,000
    Cash at bank 60,000 10,000
    Machinery 80,000 80,000
    Sundry creditors 3,70,000 4,20,000

    Other details:

    Particulars Rs. Particulars Rs.
    Rent paid 1,20,000 Cash received from debtors 12,50,000
    Discount received 35,000 Drawings 1,00,000
    Discount allowed 25,000 Cash sales 20,000
    Cash paid to creditors 11,00,000 Capital as on 1.4.2018 5,20,000
  10. Mary does not keep her books under double entry system. From the following details prepare trading and profit and loss account for the year ending 31st March, 2019 and a
    balance sheet as on that date.

    Dr.                          Cash Book                             Cr.
    Particulars Rs. Particulars Rs.
    To Balance b/d 1,20,000 By Purchases 1,50,000
    To Sales 3,60,000 By Creditors 2,50,000
    To Debtors 3,40,000 By Wages 70,000
        By Sundry expenses 1,27,000
        By Balance c/d 2,23,000
      8,20,000   8,20,000

    Other information

    Particulars 1.4.2018 31.3.2019
    Stock of goods 1,10,000 1,80,000
    Sundry Debtors 1,30,000 ?
    Sundry Creditors 1,60,000 90,000
    Furniture and fittings 80,000 80,000

    Additional information
    Credit purchases 1,80,000
    Credit sales 2,90,000
    Opening capital 2,80,000
    Depreciate furniture and fittings by 10% p.a.

  11. Arun carries on hardware business and does not keep his books on double entry basis. The following particulars have been extracted from his books:.

    Particulars 31.12.2017
    Rs.
    31.12.2018
    Rs.
    Land and building 2,40,000 2,40,000
    Stock-in-trade 1,20,000 1,70,000
    Debtors 40,000 51,500
    Creditors 50,000 45,000
    Cash at bank 30,000 53,000

    Other information for the year ending 31.12.2018 showed the following:

      Rs.
    Wages 65,000
    Carriage outwards 7,500
    Sundry expense 28,000
    Cash paid to creditors 6,00,000
    Drawings 10,000

    Total sales during the year were Rs.7,70,000. Purchases returns during the year wereRs.30,000 and sales returns were Rs.25,000. Depreciate land and buildings by 5%. Provide Rs.1,500 for doubtful debts. Prepare trading and profit and loss account for the year ending 31st December, 2018 and a balance sheet as on that date.

  12. Selvam does not keep his books under double entry system. From the following information prepare trading and Profit and loss A/c and Balance Sheet as on 31-12-2018

    Particulars 1-1-2018
    Rs.
    31-12-2018
    Rs.
    Machinery 60,000 60,000
    Cash at bank 25,000 33,000
    Sundry debtors 70,000 1,00,000
    Stock 45,000 22,000
    Bills receivable 20,000 38,000
    Bank loan 45,000 45,000
    Sundry creditors 25,000 21,000
      Rs.   Rs.
    Cash sales 20,000 Credit sales 1,80,000
    Cash purchases 8,000 Credit purchases 52,000
    Wages 6,000 Salaries 23,500
    Advertisement 7,000 Interest on bank loan 4,500
    Drawings 60,000 Additional capital 21,000

    Adjustments:
    Write off depreciation of 10% on machinery. Create a reserve of 1% on debtors for doubtful debts.

  13. From the following find out credit sales.

    Particulars Rs.
    Opening sundry debtors 50,000
    Cash received from sundry debtors 80,000
    Discount allowed to sundry debtors 2,000
    Sales returns 5,000
    Closing sundry debtors 75,000
  14. From the following details, find out credit purchases:

    Particulars Rs.
    Opening sundry creditors 75,000
    Closing sundry creditors 90,000
    Cash paid to sundry creditors 22,500
    Discount received 15,000
    Purchase returns 7,500
  15. M/s Saniya sport equipment does not keep proper records. From the following information, find out profit or loss and also prepare balance sheet for the year ended 31st December 2017.

    Particulars 31.12.2016
           Rs.
    31.12.2017
            Rs.
    Cash in hand 6,000 24,000
    Bank overdraft 30,000 -
    Stock 50,000 80,000
    Sundry creditors 26,000 40,000
    Sundry debtors 60,000 1,40,000
    Bills payable 6,000 12,000
    Furniture 40,000 60,000
    Bills receivable 8,000 28,000
    Machinery 50,000 1,00,000
    Investment 30,000 80,000

    Drawings Rs.10,000 per month for personal use, additional capital introduced during the year Rs.2,00,000. A bad debts Rs.2,000 and a provision of 5% it to be made on debtors. Outstanding salary 2,400, prepaid insurance Rs.700, depreciation charged on furniture @10% per annum.

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