Tamilnadu Board Accountancy Question papers for 12th Standard (English Medium) Question paper & Study Materials

12th Standard English Medium Accountancy Reduced Syllabus Annual Exam Model Question Paper with Answer key - 2021 - by Kokila - Tirunelveli View & Read

  • 1)

    When capital in the beginning is Rs 10,000, drawings during the year is Rs.6,000, profit made during the year is Rs2,000 and the additional capital introduced is 3,000, find out the amount of capital at the end

  • 2)

    A firm has liabilities is Rs.50,000 and Capital is Rs.25,000. Then its assets is ______________

  • 3)

    Receipts and payments account records receipts and payments of

  • 4)

    Rs.10,000 received as to annual membership subscription. Out of this Rs.2,000 is pertaining to the previous accounting period whereas Rs.1000 is receivable at the end of the current accounting period. Calculate the amount of subscription that will be shown in the income and expenditure account for this accounting.

  • 5)

    Profit after interest on drawings, interest on capital and remuneration is Rs.10,500. Geetha, a partner, is entitled to receive commission @ 5% on profits after charging such commission. Find out commission.

12th Standard English Medium Accountancy Reduced Syllabus Annual Exam Model Question Paper - 2021 - by Kokila - Tirunelveli View & Read

  • 1)

    Incomplete records are generally maintained by

  • 2)

    Which of the following formulas is used to calculated the net income for an accounting period?

  • 3)

    Subscription due but not received for the current year is

  • 4)

    _______are the amounts received by not for- profit organisations as a gift

  • 5)

    Profit after interest on drawings, interest on capital and remuneration is Rs.10,500. Geetha, a partner, is entitled to receive commission @ 5% on profits after charging such commission. Find out commission.

12th Standard English Medium Accountancy Reduced Syllabus Public Exam Model Question Paper with Answer key - 2021 - by Kokila - Tirunelveli View & Read

  • 1)

    Which of the following items relating to bills payable is transferred to total creditors account?

  • 2)

    Single entry system is not possible for:

  • 3)

    Income and expenditure account is a

  • 4)

    On what basis the receipts and payments account is prepared?

  • 5)

    Pick the odd one out

12th Standard English Medium Accountancy Reduced Syllabus Public Exam Model Question Paper - 2021 - by Kokila - Tirunelveli View & Read

  • 1)

    Which of the following items relating to bills payable is transferred to total creditors account?

  • 2)

    A method wherein omitted information is determined in the first place and by using this information net income or net loss is ascertained is known as

  • 3)

    Which of the following should not be recorded in the income and expenditure account?

  • 4)

    _______Items will be recorded in the balance sheet

  • 5)

    Profit after interest on drawings, interest on capital and remuneration is Rs.10,500. Geetha, a partner, is entitled to receive commission @ 5% on profits after charging such commission. Find out commission.

12th Standard English Medium Accountancy Reduced Syllabus Creative Five mark Question with Answer key - 2021(Public Exam ) - by Kokila - Tirunelveli View & Read

  • 1)

    Calculate the missing information:

    Particulars Rs.
    Closing capital 32,000
    Drawings 4,800
    Additional capital 8,000
    Profit made during the year 9,600
  • 2)

    Compute the amount of total purchases and total sales of Mr. Amit from the following information for the year ending on March 31, 2018.

      Rs.
    Total debtors as on April 01, 2017 40,000
    Total creditors as on April 01,2017 50,000
    Bills receivable as on April 01, 2017 30,000
    Bills payable as on April 01, 2017 45,000
    Discount received 5,000
    Bad debts 2,000
    Return inwards 4,000
    Discount allowed 3,000
    Cash sales 10,000
    Cash purchases 8,000
    Total debtors as on March 31, 2018 80,000
    Cash received from debtors 1,00,000
    Cash paid to creditors 80,000
    Cash received against bills receivable 25,000
    Payment made against bills receivable 40,000
    Total creditors as on March 31, 2018 40,000
    Bills payable as on March 31, 2018 50,000
    Bills receivable as on March 31,2018 35,000
  • 3)

    From the following details of vijay 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 As on 1.4.2017
              Rs.
    As on 31.3.2018
              Rs.
    Sundry Creditors 37,500 43,750
    Furniture 2,500 2,500
    Cash 6,250 10,000
    Sundry debtors 62,500 87,500
    Stock 25,000 12,500

     Other details:

      Rs.
    Drawings 10,000
    Discount received 3,750
    Discount allowed 2,500
    Cash received from sundry debtors 1,35,000
    Cash paid to creditors 1,12,500
    Sales returns 3,750
    Purchase returns 1,250
    Sundry expenses paid 8,750
  • 4)

    From the following Receipt and Payment Account for the year ending 31thMarch 2015 of crickets club. Prepare Income and Expenditure Account for the same period:

    Dr Receipt and Payment Account for the year ending March 31, 2015 Cr
    Receipts Rs Payments Rs
    To Balance c/d 25,000 By Purchase of furniture (1.7.14) 5,000
    Bank 25,000 By Salaries 2,000
    To Subscriptions   By Electricity charges 600
    2014   1,500   By Postage and stationery 150
    2015  10,000   By Purchase of books 2,500
    2016    500 12,000 By Entertainment expenses 900
    To Donation 2,000 papers (1.7.14 8000
    To Hall rent 300 By Miscellaneous expenses 600
    To Interest on bank deposits 450 By Balance c/d  
    To Entrance fees 1,000 Cash 300
        Bank 20,400
      40,750   40,750

    The following additional information is available:
    (i) Salaries outstanding Rs.1,500
    (ii) Entertainment expenses outstanding Rs.500
    (Hi) Bank interest receivable Rs.150
    (iv) Subscription accrued Rs.400
    (v) 50 percent of entrance fees is to capitalised
    (vi) Furniture is to be depreciated at 10percent per annum

  • 5)

    From the following extract of Receipt and Payment Account and the additional information given below, compute the amount of income from subscriptions and show as how they would appear in the Income and Expenditure Account for the year ending March 31st, 2015 and Balance sheet.

    Dr Receipt and Payment Account for the year ending March 31, 2015 Cr
    Receipts Rs Payments Rs
    Subscription:      
    2013-14   7,000      
    2014-15   30,000      
    2015-16    5,000 42,000    

    Additional Information:
    (i) Subscriptions outstanding March 31, 2014 Rs. 8,500
    (ii) Total subscriptions outstanding March 31, 2015 Rs. 18,500
    (iii) Subscriptions received in advance as Rs. 4,000 on March 31, 2014.

12th Standard English Medium Accountancy Reduced Syllabus Creative Three mark Question with Answer key - 2021(Public Exam ) - by Kokila - Tirunelveli View & Read

  • 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)

    Yuvan foundation is formed to educate and to provide jobs to unemployed women. Identify the values involved.

  • 4)

    Youth of India sports club decided to donate ~ 50,000 and spread awareness among the people of nearby societies about cleanliness in the country under the programme "Bharat Abhiyan". Identify the values highlighted.

  • 5)

    Explain the procedure for preparation of final accounts of a partnership firm.

12th Standard English Medium Accountancy Reduced Syllabus Creative Two mark Question with Answer key - 2021(Public Exam ) - by Kokila - Tirunelveli View & Read

  • 1)

    Under single entry system is it possible to check the arithmetical accuracy of books of accounts?

  • 2)

    Why is statement of affairs prepared under single entry system not referred to as balance sheet?

  • 3)

    What are the possible reasons for keeping incomplete records?

  • 4)

    Explain the steps in preparations of receipts and payments account.

  • 5)

    Can the balance in receipts and payments account be treated as income of the period? If it shows credit balance  what does it mean?

12th Standard English Medium Accountancy Reduced Syllabus Creative One mark Question with Answer key - 2021(Public Exam) - by Kokila - Tirunelveli View & Read

  • 1)

    The capital of a business is ascertained by preparing

  • 2)

    Companies cannot keep books on single entry system because of

  • 3)

    In _____ system, only personal and cash accounts are opened.

  • 4)

    Identify the correct formula used to ascertain the closing capital

  • 5)

    Total opening balances of assets and liabilities are Rs. 10,000 and Rs. 5,000 respectively. Find out the opening capital of the business

12th Standard English Medium Accountancy Reduced Syllabus Five mark Important Questions with Answer key - 2021(Public Exam ) - by Kokila - Tirunelveli View & Read

  • 1)

    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.

  • 2)

    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.

  • 3)

    Mrs. Geetha started business with Rs.1,20,000 as capital on 1.4.2018. During the year she has withdrawn at the rate of Rs.1,000 per month. She introduced Rs.20,000 as additional capital. Her position on 31.3.2019 was as follows.

    Particulars Rs.
    Bank balance 8,000
    Stock 80,000
    Sundry debtors 50,000
    Furniture 2,500
    Cash in hand 2,000
    Sundry creditors 25,000
    Expenses outstanding 1,000

    She keeps her books under single entry system, determine for profit or loss for the year 2003-04. 

  • 4)

    From the following details of vijay 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 As on 1.4.2017
              Rs.
    As on 31.3.2018
              Rs.
    Sundry Creditors 37,500 43,750
    Furniture 2,500 2,500
    Cash 6,250 10,000
    Sundry debtors 62,500 87,500
    Stock 25,000 12,500

     Other details:

      Rs.
    Drawings 10,000
    Discount received 3,750
    Discount allowed 2,500
    Cash received from sundry debtors 1,35,000
    Cash paid to creditors 1,12,500
    Sales returns 3,750
    Purchase returns 1,250
    Sundry expenses paid 8,750
  • 5)

    From the following particulars of Poompuhar Literary Association, prepare Receipts and
    Payments account for the year ended 31st March, 2019.
     

    Particulars Rs. Particulars Rs.
    Opening cash in hand as on 1.4.2018 5,000 Subscriptions received 20,000
    Bank overdraft as on 1.4.2018 4,000 Repairs and renewals 2,500
    Printing and stationery 1,500 Conveyance paid 2,750
    Interest paid 3,250 Books purchased 10,000
    Sale of investments 1,000 Insurance premium paid 4,000
    Purchase of refreshments 1,500 Sundry receipts 750
    Outstanding salary 2,000 Government grants received 6,000
    Endowment fund receipts 2,000 Sale of refreshments 1,500
    Lighting charges 1,300 Depreciation on buildings 2,000
        Cash at bank on 31.03.2019 2,000

12th Standard English Medium Accountancy Reduced Syllabus Five mark Important Questions - 2021(Public Exam ) - by Kokila - Tirunelveli View & Read

  • 1)

    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.

  • 2)

    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
  • 3)

    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.

  • 4)

    From the following particulars of Poompuhar Literary Association, prepare Receipts and
    Payments account for the year ended 31st March, 2019.
     

    Particulars Rs. Particulars Rs.
    Opening cash in hand as on 1.4.2018 5,000 Subscriptions received 20,000
    Bank overdraft as on 1.4.2018 4,000 Repairs and renewals 2,500
    Printing and stationery 1,500 Conveyance paid 2,750
    Interest paid 3,250 Books purchased 10,000
    Sale of investments 1,000 Insurance premium paid 4,000
    Purchase of refreshments 1,500 Sundry receipts 750
    Outstanding salary 2,000 Government grants received 6,000
    Endowment fund receipts 2,000 Sale of refreshments 1,500
    Lighting charges 1,300 Depreciation on buildings 2,000
        Cash at bank on 31.03.2019 2,000
  • 5)

    From the following Receipts and Payments account of Coimbatore Cricket Club for the year ending 31st March 2016, prepare income and expenditure account for the year ending 31st March, 2016 and a balance sheet as on that date.

    In the books of Coimbatore Cricket Club Receipts and Payments Account for the year ending 31st March, 2016
    Receipts Rs. Payments Rs.
    To Balance b/d:   By Maintenance 5,000
    Cash at bank 8,000 By Furniture 15,000
    To Subscriptions 11,000 By Tournament expenses 1,400
    To Sale of old bats and balls 100 By Secretary’s honorarium 4,500
    To Subscription for tournament 2,000 By Bats and balls 7,400
    To Legacies 20,000 By Balance c/d:  
        Cash at bank 7,800
      41,100   41,100

    Additional information:
    On 1st April, 2015 the club had stock of balls and bats Rs.3,000 and an advance subscription of Rs. 500. Surplus on account of tournament should be kept in reserve for permanent pavilion.Subscription due on 31.03.2016 was Rs.2,000. Stock of bats and balls on 31.3.2016 was Rs.1,000.

12th Standard English Medium Accountancy Reduced Syllabus Three mark Important Questions with Answer key - 2021(Public Exam ) - by Kokila - Tirunelveli View & Read

  • 1)

    From the following details, calculate the missing figure:

      Rs
    Capital as on 1st April, 2017 2,50,000
    Capital as on 31st March, 2018 2,75,000
    Additional capital introduced during the year 30,000
    Profit for the year 15,000
    Drawings during the year ?
  • 2)

    From the following details find out total sales made during the year

    Particulars Rs.
    Debtors on 1st January 2018 1,30,000
    Cash received from debtors during the year 4,20,000
    Sales returns 35,000
    Bad debts 15,000
    Debtors on 31st December 2018 2,00,000
    Cash Sales 4,60,000
  • 3)

    How will the following items appear in the final accounts of a club for the year ending 31st March 2017? A club received subscription of Rs. 25,000 during the year 2016-17. This includes subscription of Rs. 2,000 for 2015-16 and Rs. 1,500 for the year 2017-18. Subscription of Rs.500 is still outstanding for the year 2016-17.

  • 4)

    How will the following appear in the final accounts of Marthandam Women Cultural Association?

      Rs
    Stock of sports materials on 1.4.2018 16,000
    Sports materials purchased during the year 84,000
    Stock of sports materials on 31.3.2019 10,000
  • 5)

    Yuvan foundation is formed to educate and to provide jobs to unemployed women. Identify the values involved.

12th Standard English Medium Accountancy Reduced Syllabus Three mark Important Questions - 2021(Public Exam ) - by Kokila - Tirunelveli View & Read

  • 1)

    From the following details, calculate the missing figure:

      Rs
    Capital as on 1st April, 2017 2,50,000
    Capital as on 31st March, 2018 2,75,000
    Additional capital introduced during the year 30,000
    Profit for the year 15,000
    Drawings during the year ?
  • 2)

    State the procedure for calculating profit or loss through statement of affairs.

  • 3)

    From the following particulars of Trichy Educational Society, prepare Receipts and Payments
    account for the year ended 31st December, 2018

    Particulars Rs. Particulars Rs.
    Opening cash balance as on 1.1.2018 20,000 Locker rent received 12,000
    Investments made 80,000 Sale of furniture 5,000
    Honorarium paid 3,000 General expenses 7,000
    Donation received 80,000 Postage 1,000
    Audit fees paid 2,000 Subscription received 10,000
  • 4)

    How annual subscription is dealt with in the final accounts of not–for–profit organisation?

  • 5)

    How will the following appear in the final accounts of Vedaranyam Sports club?

      Rs.
    Opening stock of bats and balls 3,000
    Purchase of bats and balls during the year 17,000
    Sale of old bats and balls 2,000
    Closing stock of bats and balls 4,000

12th Standard English Medium Accountancy Reduced Syllabus Two mark Important Questions with Answer key - 2021(Public Exam ) - by Kokila - Tirunelveli View & Read

  • 1)

    From the following particulars ascertain profit or loss: 

      Rs.
    Capital at the beginning of the year (1st April, 2016) 2,00,000
    Capital at the end of the year (31st March, 2017) 3,50,000
    Additional capital introduced during the year 70,000
    Drawings during the year 40,000
  • 2)

    From the following particulars, prepare bills receivable account and compute the bills received from the debtors

    Particulars Rs
    Opening bills receivable 20,000
    Closing bills receivable 30,000
    Cash received for bills receivable 60,000
    Bills receivable dishonoured 5,000
  • 3)

    From the following particulars ascertain profit or loss:

    Particulars Rs.
    Capital at the beginning of the year (1st April, 2018) 5,00,000
    Capital at the end of the year (31st March, 2019) 8,50,000
    Additional capital introduced during the year 1,20,000
    Drawings during the year 70,000
  • 4)

    Find out credit sales from the following information:

    Particulars Rs.
    Debtors on 1st April, 2018 1,00,000
    Cash received from debtors 2,30,000
    Discount allowed 5,000
    Returns inward 25,000
    Debtors on 31st March 2019 1,20,000
  • 5)

    From the following Receipts and Payment Account of Ooty Recreation Club, prepare Income
    and Expenditure Account for the year ended 31.03.2018

    Receipts Rs. Payments Rs.
    To Opening balance   By Sports materials purchased 10,000
    Cash in hand 5,000 By Stationery paid 7,000
    To Rent received 10,000 By Computer purchased 25,000
    To Sale of investments 8,000 By Salaries 20,000
    To Subscription received 54,000 By Closing balance  
        Cash in hand 15,000
      77,000   77,000

12th Standard English Medium Accountancy Reduced Syllabus Two mark Important Questions - 2021(Public Exam ) - by Kokila - Tirunelveli View & Read

  • 1)

    From the following particulars ascertain profit or loss: 

      Rs.
    Capital at the beginning of the year (1st April, 2016) 2,00,000
    Capital at the end of the year (31st March, 2017) 3,50,000
    Additional capital introduced during the year 70,000
    Drawings during the year 40,000
  • 2)

    From the following details find out total sales made during the year.

      Rs
    Debtors on 1st April 2018 50,000
    Cash received from debtors during the year 1,50,000
    Returns inward 15,000
    Bad debts 5,000
    Debtors on 31st March 2019 70,000
    Cash Sales 1,40,000
  • 3)

    From the following details, calculate credit purchases

    Particulars Rs
    Creditors on 1st April, 2018 50,000
    Returns outward 6,000
    Cash paid to creditors 1,60,000
    Creditors on 31st March, 2019 70,000
  • 4)

    Find out credit sales from the following information:

    Particulars Rs.
    Debtors on 1st April, 2018 1,00,000
    Cash received from debtors 2,30,000
    Discount allowed 5,000
    Returns inward 25,000
    Debtors on 31st March 2019 1,20,000
  • 5)

    Why is statement of affairs prepared under single entry system not referred to as balance sheet?

12th Standard English Medium Accountancy Reduced Syllabus One mark Important Questions with Answer key - 2021(Public Exam ) - by Kokila - Tirunelveli View & Read

  • 1)

    Opening balance of debtors: Rs 30,000, cash received:Rs 1,00,000, credit sales: Rs90,000; closing balance of debtors is

  • 2)

    A firm has assets worth Rs.60,000 and capital Rs.45,000.Then it's liabilities is

  • 3)

    Creditors on 1.4.2016 was Rs.80,000 and on 31.3.2017 was Rs.65,000 cash paid to creditors during the year is Rs.10,000. Then the credit purchases during the year is

  • 4)

    If opening capital Rs. 1,000 and closing capital Rs. 2000. Assuming no drawings during the accounting period, calculated the net income or loss for the period

  • 5)

    Capital can be obtained by preparing

12th Standard English Medium Accountancy Reduced Syllabus One mark Important Questions - 2021(Public Exam ) - by Kokila - Tirunelveli View & Read

  • 1)

    The excess of assets over liabilities is

  • 2)

    Opening balance of debtors: Rs 30,000, cash received:Rs 1,00,000, credit sales: Rs90,000; closing balance of debtors is

  • 3)

    The capital of a business is ascertained by preparing

  • 4)

    Closing capital can be found by preparing a statement affairs at the _____ of the year.

  • 5)

    In single entry system must suited where:

12th Standard Accounts English Medium Free Online Test Book Back 1 Mark Questions with Answer Key - by Kokila - Tirunelveli View & Read

  • 1)

    Statement of affairs is a

  • 2)

    Receipts and payments account records receipts and payments of

  • 3)

    In the absence of an agreement among the partners, interest on capital is

  • 4)

    Super profit is the difference between

  • 5)

    On revaluation, the increase in the value of assets leads to

12th Standard Accounts English Medium Free Online Test Book Back One Mark Questions - by Kokila - Tirunelveli View & Read

  • 1)

    Incomplete records are generally maintained by

  • 2)

    Receipts and payments account is a

  • 3)

    In the absence of a partnership deed, profits of the firm will be shared by the partners in

  • 4)

    Which of the following statements is true?

  • 5)

    Revaluation A/c is a

12th Standard Accounts English Medium Free Online Test Book Back One Mark Questions - Part Two - by Kokila - Tirunelveli View & Read

  • 1)

    Opening statement of affairs is usually prepared to find out the

  • 2)

    Balance of receipts and payments account indicates the

  • 3)

    As per the Indian Partnership Act, 1932, the rate of interest allowed on loans advanced by partners is

  • 4)

    The average rate of return of similar concerns is considered as

  • 5)

    The profit or loss on revaluation of assets and liabilities is transferred to the capital account of

12th Standard Accounts English Medium Free Online Test Book Back 1 Mark Questions with Answer Key - Part Two - by Kokila - Tirunelveli View & Read

  • 1)

    The excess of assets over liabilities is

  • 2)

    Income and expenditure account is a

  • 3)

    Which of the following is shown in Profit and loss appropriation account?

  • 4)

    Which of the following is true?

  • 5)

    If the old profit sharing ratio is more than the new profit sharing ratio of a partner, the difference is called

12th Standard Accounts English Medium Free Online Test Book Back One Mark Questions - Part Three - by Kokila - Tirunelveli View & Read

  • 1)

    Which of the following items relating to bills payable is transferred to total creditors account?

  • 2)

    Income and Expenditure Account is prepared to find out

  • 3)

    When fixed capital method is adopted by a partnership firm, which of the following items will appear in capital account?

  • 4)

    Identify the incorrect pair

  • 5)

    At the time of admission, the goodwill brought by the new partner may be credited to the capital accounts of

12th Standard Accounts English Medium Free Online Test Book Back 1 Mark Questions with Answer Key - Part Three - by Kokila - Tirunelveli View & Read

  • 1)

    The amount of credit sales can be computed from

  • 2)

    Which of the following should not be recorded in the income and expenditure account?

  • 3)

    When a partner withdraws regularly a fixed sum of money at the middle of every month, period for which interest is to be calculated on the drawings on an average is

  • 4)

    When the average profit is Rs.25,000 and the normal profit is Rs.15,000, super profit is

  • 5)

    Select the odd one out

12th Standard Accounts English Medium Free Online Test Creative 1 Mark Questions - Part Three - by Kokila - Tirunelveli View & Read

  • 1)

    Closing capital can be found by preparing a statement affairs at the _____ of the year.

  • 2)

    Which of the following is generally considered as a non profit organisation?

  • 3)

    Capital account will always show credit balance under ________ method.

  • 4)

    ________  is the good name or reputation of the business which brings benefit to the business

  • 5)

    ________ ratio is the proportion of the profit which is sacrificed or foregone by the old partners in favour of the new partner.

12th Standard Accounts English Medium Free Online Test Creative 1 Mark Questions - by Kokila - Tirunelveli View & Read

  • 1)

    A firm has assets worth Rs.60,000 and capital Rs.45,000.Then it's liabilities is

  • 2)

    On what basis the receipts and payments account is prepared?

  • 3)

    All the transactions between the partner and the firm are recorded in the

  • 4)

    Normal profit is

  • 5)

    Revaluation account is also called

12th Standard Accounts English Medium Free Online Test Creative One Mark Questions with Answer Key - by Kokila - Tirunelveli View & Read

  • 1)

    Credit purchase is obtained from

  • 2)

    Income and Expenditure accounts show

  • 3)

    Amount invested by partners in the partnership business is called

  • 4)

    Self- generated goodwill should not be shown in the

  • 5)

    The revaluation profit or loss is transferred to the old partner's capital accounts, in their

12th Standard Accounts English Medium Free Online Test Creative 1 Mark Questions - Part Two - by Kokila - Tirunelveli View & Read

  • 1)

    Closing capital can be found by preparing a statement affairs at the _____ of the year.

  • 2)

    When a fixed amount is withdrawn in the beginning of every month the period calculated for interest on drawings is

  • 3)

    Average Capital employed Rs. 4,00,000

    Net profit 2011 2,50,000
    2012 1,00,00(Loss)
    2013 4,50,000
    N R R 10%

    Goodwill at 3 years purchase of super profit will be

  • 4)

    On admission of a new partner, increase in value of assets is debited to

  • 5)

    Partnership is _________ on the retirement or death of a partner

12th Standard Accounts English Medium Free Online Test Creative One Mark Questions with Answer Key - Part Two - by Kokila - Tirunelveli View & Read

  • 1)

    Match List I with List II and Select the Correct Answer using the Codes given below.

    List I List II
    (i) Incomplete records 1. Net worth method
    (ii) Single entry system 2. Double entry
    (iii) Statement of affairs method 3. Small traders
    (iv) Nominal account 4. Incomplete double system
  • 2)

    Calculate the amount of net income or loss if the capital has been increased by Rs.1,000 during this accounting period drawings Rs.5,000 and Rs.1,000 fresh capital was introduced in the business

  • 3)

    Some organisations are established for the purpose of rending services to the public without

  • 4)

    Under fixed capital method salary payable to a partner is recorded

  • 5)

    Super profit is

12th Standard Accounts English Medium Free Online Test Creative One Mark Questions with Answer Key - Part Three - by Kokila - Tirunelveli View & Read

  • 1)

    _____ is a statement showing the balances of assets and liabilities on a particular date.

  • 2)

    A firm has liabilities is Rs.50,000 and Capital is Rs.25,000. Then its assets is ______________

  • 3)

    The receipts and payments account of a nonprofit organisation is a

  • 4)

    Product method can be used in all situations as an alternative to

  • 5)

    Rate of interest is 11% and the rate of risk is 9% The normal rate of return is

12th Standard Accounts English Medium Free Online Test Creative 1 Mark Questions - Part Four - by Kokila - Tirunelveli View & Read

  • 1)

    _____ is a statement showing the balances of assets and liabilities on a particular date.

  • 2)

    If it is desired to calculate profit by preparing trading and profit and loss account under single entry then it is called ______ method.

  • 3)

    A firm has liabilities is Rs.50,000 and Capital is Rs.25,000. Then its assets is ______________

  • 4)
    List I List II
    (i) Subscription 1. Balls, bats
    (ii) Investments 2. Time of admission
    (iii) Old sports materials 3. Receive interest
    (iv) Admission fee 4. Tennis or billiards
  • 5)

    If a firm is maintaining both 'capital accounts' and 'current accounts' of the partners A and B. Additional capital introduced by B will be recorded in

12th Standard Accounts English Medium Free Online Test Creative One Mark Questions with Answer Key - Part Four - by Kokila - Tirunelveli View & Read

  • 1)

    The capital of a business is ascertained by preparing

  • 2)

    A method wherein omitted information is determined in the first place and by using this information net income or net loss is ascertained is known as

  • 3)

    Capital fund also called as

  • 4)

    Interest on capital is to be calculated on the capitals at the beginning for the

  • 5)

    Average Capital employed Rs. 4,00,000

    Net profit 2011 2,50,000
    2012 1,00,00(Loss)
    2013 4,50,000
    N R R 10%

    Goodwill at 3 years purchase of super profit will be

12th Standard Accounts English Medium Free Online Test Creative 1 Mark Questions - Part Five - by Kokila - Tirunelveli View & Read

  • 1)

    Debtors on 1.4.2018 was Rs.1,00,000 and on 31.3.2019 was Rs.80,000 cash received from debtors during the year is Rs.1,60,000. Then the credit sales during the year is

  • 2)

    Following are the limitations of incomplete records except _________________

  • 3)

    The maximum number of partners in a partnership firm is

  • 4)

    The total capitalised value of the business is calculated by capitalising the average profits on the basis of

  • 5)

    Goodwill is _________.

12th Standard Accounts English Medium Free Online Test Creative One Mark Questions with Answer Key - Part Five - by Kokila - Tirunelveli View & Read

  • 1)

    _____ maintains only personal and cash accounts.

  • 2)

    If adjusted closing capital is more than the opening capital, it denotes ____________

  • 3)

    Rent expenses of a non-profit organization paid in advance. Which of the following is the correct classification of rent

  • 4)

    _______is prepared to find out the surplus or deficit pertaining to a particular year.

  • 5)

    All the transactions between the partner and the firm are recorded in the

12th Standard Accounts - Accounts of Partnership Firms-Fundamentals English Medium Free Online Test One Mark Questions with Answer Key 2020 - 2021 - by Kokila - Tirunelveli View & Read

  • 1)

    In the absence of an agreement among the partners, interest on capital is

  • 2)

    When a partner withdraws regularly a fixed sum of money at the middle of every month, period for which interest is to be calculated on the drawings on an average is

  • 3)

    In the absence of an agreement, partners are entitled to

  • 4)

    Profit after interest on drawings, interest on capital and remuneration is Rs.10,500. Geetha, a partner, is entitled to receive commission @ 5% on profits after charging such commission. Find out commission.

  • 5)

    The profit or loss arising from the partnership business is shared by the partners in the

12th Standard Accounts - Accounts From Incomplete Records English Medium Free Online Test One Mark Questions 2020 - 2021 - by Kokila - Tirunelveli View & Read

  • 1)

    Incomplete records are generally maintained by

  • 2)

    Opening statement of affairs is usually prepared to find out the

  • 3)

    Which of the following items relating to bills payable is transferred to total creditors account?

  • 4)

    Which one of the following statements is not true in relation to incomplete records?

  • 5)

    When capital in the beginning is Rs 10,000, drawings during the year is Rs.6,000, profit made during the year is Rs2,000 and the additional capital introduced is 3,000, find out the amount of capital at the end

12th Standard Accounts - Accounts From Incomplete Records English Medium Free Online Test One Mark Questions with Answer Key 2020 - 2021 - by Kokila - Tirunelveli View & Read

  • 1)

    Statement of affairs is a

  • 2)

    The amount of credit sales can be computed from

  • 3)

    What is the amount of capital of the proprietor, if his assets are Rs. 85,000 and liabilities are Rs. 21,000?

  • 4)

    Opening balance of debtors: Rs 30,000, cash received:Rs 1,00,000, credit sales: Rs90,000; closing balance of debtors is

  • 5)

    The total assets of a proprietor are Rs.5,00,000. His liabilities Rs.3,50,000. Then his capital in the business is

12th Standard Accounts - Accounts of Not-For-Profit Organisation English Medium Free Online Test One Mark Questions 2020 - 2021 - by Kokila - Tirunelveli View & Read

  • 1)

    Receipts and payments account is a

  • 2)

    Balance of receipts and payments account indicates the

  • 3)

    Subscription due but not received for the current year is

  • 4)

    Donations received for a specific purpose is

  • 5)

    Which of the following is to be recorded in an income and expenditure account?

12th Standard Accounts - Accounts of Not-For-Profit Organisation English Medium Free Online Test One Mark Questions with Answer Key 2020 - 2021 - by Kokila - Tirunelveli View & Read

  • 1)

    Receipts and payments account records receipts and payments of

  • 2)

    Which of the following should not be recorded in the income and expenditure account?

  • 3)

    Legacy is a

  • 4)

    There are 500 members in a club each paying Rs.100 as annual subscription. Subscription due but not received for the current year is Rs.200; Subscription received in advance is Rs.300.Find out the amount of subscription to be shown in the income and expenditure account

  • 5)

    Income and Expenditure account is based on

12th Standard Accounts - Accounts of Partnership Firms-Fundamentals English Medium Free Online Test One Mark Questions 2020 - 2021 - by Kokila - Tirunelveli View & Read

  • 1)

    In the absence of a partnership deed, profits of the firm will be shared by the partners in

  • 2)

    As per the Indian Partnership Act, 1932, the rate of interest allowed on loans advanced by partners is

  • 3)

    Which of the following is the incorrect pair?

  • 4)

    Pick the odd one out

  • 5)

    X and Yare partners sharing the profits and losses in the ratio of 2:3 with capitals of Rs.1,20,000 and Rs.60,000 respectively. Profits for the year are Rs.9,000. If the partnership deed is silent as to interest on capital. Show how profit is shared among X and Y

12th Standard Accounts Goodwill In Partnership Accounts English Medium Free Online Test One Mark Questions 2020 - 2021 - by Kokila - Tirunelveli View & Read

  • 1)

    Which of the following statements is true?

  • 2)

    The average rate of return of similar concerns is considered as

  • 3)

    Book profit of 2017 is Rs.35,000; non-recurring income included in the profit is Rs.1,000 and abnormal loss charged in the year 2017 was Rs.2,000, then the adjusted profit is

  • 4)

    The monetary value of such advantage is termed as

  • 5)

    The profit earning capacity of the firm determines the value of its

12th Standard Accounts Goodwill In Partnership Accounts English Medium Free Online Test One Mark Questions with Answer Key 2020 - 2021 - by Kokila - Tirunelveli View & Read

  • 1)

    Which of the following statements is true?

  • 2)

    Identify the incorrect pair

  • 3)

    Book profit of 2017 is Rs.35,000; non-recurring income included in the profit is Rs.1,000 and abnormal loss charged in the year 2017 was Rs.2,000, then the adjusted profit is

  • 4)

    The profit earning capacity of the firm determines the value of its

  • 5)

    Which of the following method, goodwill is calculated by multiplying the weighted average profit?

12th Standard Accounts Admission of a Partner English Medium Free Online Test One Mark Questions 2020 - 2021 - by Kokila - Tirunelveli View & Read

  • 1)

    Revaluation A/c is a

  • 2)

    At the time of admission, the goodwill brought by the new partner may be credited to the capital accounts of

  • 3)

    Match List I with List II and select the correct answer using the codes given below:

    List I List II
    (i) Sacrificing ratio 1. Investment fluctuation fund
    (ii) Old profit sharing ratio 2. Accumulated profit
    (iii) Revaluation Account 3. Goodwill
    (iv) Capital Account 4. Unrecorded liability
  • 4)

    When the value of an asset increases, it results in

  • 5)

    In order to maintain fair dealings, at the time of admission, it is necessary to revalue assets and liabilities of the firm to their

12th Standard Accounts Admission of a Partner English Medium Free Online Test One Mark Questions with Answer Key 2020 - 2021 - by Kokila - Tirunelveli View & Read

  • 1)

    On revaluation, the increase in the value of assets leads to

  • 2)

    Which of the following statements is not true in relation to admission of a part

  • 3)

    Select the odd one out

  • 4)

    Balaji and Kamalesh are partners sharing profits and losses in the ratio of 2:1. They admit Yogesh into partnership. The new profit sharing ratio between Balaji, Kamalesh and Yogesh is agreed to 3:1:1. Find the sacrificing ratio between Balaji and Kamalesh.

  • 5)

    Undistributed profits will appear on the _______ side of the balance sheet

12th Standard Accounts Retirement and Death of a Partner English Medium Free Online Test One Mark Questions 2020 - 2021 - by Kokila - Tirunelveli View & Read

  • 1)

    A partner retires from the partnership firm on 30th June. He is liable for all the acts of the firm up to the

  • 2)

    On retirement of a partner, general reserve is transferred to the

  • 3)

    A, B and C are partners sharing profits in the ratio of 4:2:3. Cretires. The new profit sharing ratio between A and B will be

  • 4)

    A partner who retires from the firm is called an

  • 5)

    At the time of retirement of partners, the existing partners stand to

12th Standard Accounts Retirement and Death of a Partner English Medium Free Online Test One Mark Questions with Answer Key 2020 - 2021 - by Kokila - Tirunelveli View & Read

  • 1)

    On retirement of a partner from a partnership firm, accumulated profits and losses are distributed to the partners in the

  • 2)

    If the final amount due to a retiring partner is not paid immediately, it is transferred to

  • 3)

    X, Y and Z were partners sharing profits and losses equally. X died on 1st April 2019. Find out the share of X in the profit of 2019 based on the profit of 2018 which showed Rs. 36,000.

  • 4)

    ________ratio is calculated by taking out the difference between new profit sharing ratio and old profit sharing ratio

  • 5)

    X,Y,Z were partners sharing profits in the ratio of 5:3:2. Goodwill does not appear in books, but it is agreed to be worth Rs.1,00,000. X retires from the firm and Y and Z decide to share future profits equally. X’s share of goodwill will be debited to Y’s and Z’s capital A/c’s in ratio :

12th Standard Accounts Company Accounts English Medium Free Online Test One Mark Questions 2020 - 2021 - by Kokila - Tirunelveli View & Read

  • 1)

    A preference share is one
    (i) which carries preferential right with respect to payment of dividend at fixed rate
    (ii) which carries preferential right with respect to repayment of capital on winding up

  • 2)

    When shares are issued for purchase of assets, the amount should be credited to

  • 3)

    If a share of Rs.10 on which Rs.8 has been paid up is forfeited. Minimum reissue price is

  • 4)

    A public issue cannot be kept open for more _____ days.

  • 5)

    Normally companies can issue shares at _____ % of discount.

12th Standard Accounts Company Accounts English Medium Free Online Test One Mark Questions with Answer Key 2020 - 2021 - by Kokila - Tirunelveli View & Read

  • 1)

    After the forfeited shares are reissued, the balance in the forfeited shares account should be transferred to

  • 2)

    Which of the following statement is false?

  • 3)

    Match the pair and identify the correct option

    (1) Under subscription (i) Amount prepaid for calls
    (2) Over subscription (ii) Subscription above the offered shares
    (3) Calls in arrear (iii) Subscription below the offered shares
    (4) Calls in advance (iv) Amount unpaid on calls
  • 4)

    Supreme Ltd. forfeited 100 shares of Rs.10 each for non-payment of final call of Rs.2 per share. All these shares were re-issued at Rs.9 per share. What amount will be transferred to capital reserve account?

  • 5)

    The liability of the shareholders of the company is limited to the extent of face value of the shares held by the

12th Standard Accounts Financial Statement Analysis English Medium Free Online Test One Mark Questions 2020 - 2021 - by Kokila - Tirunelveli View & Read

  • 1)

    Which of the following statements is not true?

  • 2)

    Which of the following tools of financial statement analysis is suitable when data relating to several years are to be analysed?

  • 3)

    Which of the following is not a tool of financial statement analysis?

  • 4)

    Which of the following statements is not true?

  • 5)

    In a common-size balance sheet, if the percentage of non-current assets is 75, what would be the percentage of current assets?

12th Standard Accounts Financial Statement Analysis English Medium Free Online Test One Mark Questions with Answer Key 2020 - 2021 - by Kokila - Tirunelveli View & Read

  • 1)

    Balance sheet provides information about the financial position of a business concern

  • 2)

    The term ‘fund’ refers to

  • 3)

    A limited company’s sales has increased from Rs.1,25,000 to Rs.1,50,000. How does this appear in comparative income statement?

  • 4)

    Expenses for a business for the first year were Rs. 80,000. In the second year, it was increased to Rs. 88,000. What is the trend percentage in the second year?

  • 5)

    Different tools are used for analysing the

12th Standard Accounts Ratio Analysis English Medium Free Online Test One Mark Questions 2020 - 2021 - by Kokila - Tirunelveli View & Read

  • 1)

    The mathematical expression that provides a measure of the relationship between two figures is called

  • 2)

    Match List I with List II and select the correct answer using the codes given below:

    List I List II
    (i) Current ratio 1. Liquidity
    (ii) Net profit ratio 2. Efficiency
    (iii) Debt-equity ratio 3. Long term solvency
    (iv) Inventory turnover ratio 4. Profitability
  • 3)

    Proportion of share holder's funds to total assets is called

  • 4)

    Current liabilities Rs. 40,000; Current assets Rs. 1,00,000 ; Inventory Rs. 20,000. Quick ratio is

  • 5)

    The financial status and financial performance of business entities can be assessed through.

12th Standard Accounts Ratio Analysis English Medium Free Online Test One Mark Questions with Answer Key 2020 - 2021 - by Kokila - Tirunelveli View & Read

  • 1)

    Current ratio indicates

  • 2)

    To test the liquidity of a concern, which of the following ratios are useful?
    (i) Quick ratio
    (ii) Net profit ratio
    (iii) Debt-equity ratio
    (iv) Current ratio

  • 3)

    Which one of the following is not correctly matched?

  • 4)

    If both items in a ratio are from balance sheet, it is classified as

  • 5)

    Which ratio indicates the efficiency of utilisation of fixed assets?

12th Standard Accounts Computerized Accounting System - Tally English Medium Free Online Test One Mark Questions 2020 - 2021 - by Kokila - Tirunelveli View & Read

  • 1)

    Accounting report prepared according to the requirements of the user is

  • 2)

    Which submenu displays groups, ledgers and voucher types in Tally?

  • 3)

    Salary account comes under which of the following head?

  • 4)

    In which voucher type credit purchase of furniture is recorded in Tally

  • 5)

    Transactions are to be recorded through

12th Standard Accounts Computerized Accounting System - Tally English Medium Free Online Test One Mark Questions with Answer Key 2020 - 2021 - by Kokila - Tirunelveli View & Read

  • 1)

    Function key F11 is used for

  • 2)

    Which is not the default group in Tally?

  • 3)

    Rs. 25,000 withdrawn from bank for office use. In which voucher type, this transaction will be recorded

  • 4)

    In 2009, Tally Solutions introduced the software

  • 5)

    Company Restore option is available in

12th Standard Accounts English Medium Free Online Test One Mark Questions with Answer Key 2020 - Part Seven - by Kokila - Tirunelveli View & Read

  • 1)

    Income and Expenditure Account is prepared to find out

  • 2)

    An advance receipt of subscription from a member of the non - profit organization is considered as alan

  • 3)

    If new share of the incoming partner is given without mentioning the details of the sacrifice made by the old partners then, the presumption is that old partners sacrifice in the ________.

  • 4)

    Persons who have entered into partnership with one another are individually called:

  • 5)

    At the time of retirement of partners, the existing partners stand to

12th Standard Accounts English Medium Free Online Test 1 Mark Questions 2020 - by Kokila - Tirunelveli View & Read

  • 1)

    When capital in the beginning is Rs 10,000, drawings during the year is Rs.6,000, profit made during the year is Rs2,000 and the additional capital introduced is 3,000, find out the amount of capital at the end

  • 2)

    A firm has assets worth Rs.47,500 and liabilities Rs.17,700. Then its capital is

  • 3)

    In _____ system, only personal and cash accounts are opened.

  • 4)

    Capital can be obtained by preparing

  • 5)

    Generally, depreciation on fixed assets is calculated on which balance?

12th Standard Accounts English Medium Free Online Test One Mark Questions with Answer Key 2020 - by Kokila - Tirunelveli View & Read

  • 1)

    The excess of assets over liabilities is

  • 2)

    If debtors balance was Rs. 2.000 at 1st Jan.2017, credit sales made during the year were Rs.1,000 and Rs.1,500 were received from debtors, which of the following is the debtors account balance at 31st Dec. 2017?

  • 3)

    Income and expenditure account is a

  • 4)

    Some organisations are established for the purpose of rending services to the public without

  • 5)

    Which of the following is shown in Profit and loss appropriation account?

12th Standard Accounts English Medium Free Online Test One Mark Questions with Answer Key 2020 - Part Two - by Kokila - Tirunelveli View & Read

  • 1)

    What is the amount of capital of the proprietor, if his assets are Rs. 85,000 and liabilities are Rs. 21,000?

  • 2)

    Identify the correct formula used to ascertain the closing capital

  • 3)

    If building (Closing) Rs.1,00,000, Land (Opening) Rs.1,00,000, Creditors (Opening) Rs.10,000 the opening capital:

  • 4)

    Income and Expenditure accounts show

  • 5)

    Which of the following is the incorrect pair?

12th Standard Accounts English Medium Free Online Test 1 Mark Questions 2020 - Part Three - by Kokila - Tirunelveli View & Read

  • 1)

    Which one of the following statements is not true in relation to incomplete records?

  • 2)

    Credit purchase is obtained from

  • 3)

    Closing capital can be found by preparing a statement affairs at the _____ of the year.

  • 4)

    Which of the following should not be recorded in the income and expenditure account?

  • 5)

    If the donation is received without any specific condition, then it is a

12th Standard Accounts English Medium Free Online Test One Mark Questions with Answer Key 2020 - Part Three - by Kokila - Tirunelveli View & Read

  • 1)

    A firm has assets worth Rs.47,500 and liabilities Rs.17,700. Then its capital is

  • 2)

    _____ maintains only personal and cash accounts.

  • 3)

    Income and Expenditure Account is prepared to find out

  • 4)

    On what basis the receipts and payments account is prepared?

  • 5)

    When a partner withdraws regularly a fixed sum of money at the middle of every month, period for which interest is to be calculated on the drawings on an average is

12th Standard Accounts English Medium Free Online Test 1 Mark Questions 2020 - Part Four - by Kokila - Tirunelveli View & Read

  • 1)

    Following are the limitations of incomplete records except _________________

  • 2)

    Subscription due but not received for the current year is

  • 3)

    _______Items will be recorded in the balance sheet

  • 4)

    Pick the odd one out

  • 5)

    Capital account will always show credit balance under ________ method.

12th Standard Accounts English Medium Free Online Test One Mark Questions with Answer Key 2020 - Part Four - by Kokila - Tirunelveli View & Read

  • 1)

    The excess of assets over liabilities is

  • 2)

    Companies cannot keep books on single entry system because of

  • 3)

    Which one of the following accounts is supposed to be used to get the figure of credit purchase made during the current accounting period?

  • 4)

    Companies cannot keep books on single entry system because of ______________

  • 5)

    Income and expenditure account is a

12th Standard Accounts English Medium Free Online Test 1 Mark Questions 2020 - Part Five - by Kokila - Tirunelveli View & Read

  • 1)

    Legacy is a

  • 2)

    Pick the odd one out

  • 3)

    Book profit of 2017 is Rs.35,000; non-recurring income included in the profit is Rs.1,000 and abnormal loss charged in the year 2017 was Rs.2,000, then the adjusted profit is

  • 4)

    Match List I with List II and select the correct answer using the codes given below:

    List I List II
    (i) Sacrificing ratio 1. Investment fluctuation fund
    (ii) Old profit sharing ratio 2. Accumulated profit
    (iii) Revaluation Account 3. Goodwill
    (iv) Capital Account 4. Unrecorded liability
  • 5)

    In partnership accounting, capital accounts are prepared under following method:

12th Standard Accounts English Medium Free Online Test One Mark Questions with Answer Key 2020 - Part Five - by Kokila - Tirunelveli View & Read

  • 1)

    Which one of the following statements is not true in relation to incomplete records?

  • 2)

    _____ towards the repayment of capital on winding up of the company.

  • 3)

    _____ is returned to the applicants for rejected applications.

  • 4)

    Capital Reserve represents _____ profit.

  • 5)

    Penalty for delay in refunding application money ___________________

12th Standard Accounts English Medium Free Online Test 1 Mark Questions 2020 - Part Six - by Kokila - Tirunelveli View & Read

  • 1)

    Opening balance of debtors: Rs 30,000, cash received:Rs 1,00,000, credit sales: Rs90,000; closing balance of debtors is

  • 2)

    The capital of a business is ascertained by preparing

  • 3)

    Incomplete records are those records which are not kept under ____ system

  • 4)

    In single entry system of accounting 

  • 5)

    Income and Expenditure Account is prepared to find out

12th Standard Accounts English Medium Free Online Test One Mark Questions with Answer Key 2020 - Part Six - by Kokila - Tirunelveli View & Read

  • 1)

    When capital in the beginning is Rs 10,000, drawings during the year is Rs.6,000, profit made during the year is Rs2,000 and the additional capital introduced is 3,000, find out the amount of capital at the end

  • 2)

    Closing capital can be found by preparing a statement affairs at the _____ of the year.

  • 3)

    Receipts and payments account records receipts and payments of

  • 4)

    Which of the following is shown in Profit and loss appropriation account?

  • 5)

    Amount invested by partners in the partnership business is called

12th Standard Accounts English Medium Free Online Test 1 Mark Questions 2020 - Part Seven - by Kokila - Tirunelveli View & Read

  • 1)

    Which one of the following statements is not true in relation to incomplete records?

  • 2)

    Match List I with List II and Select the Correct Answer using the Codes given below.

    List I List II
    (i) Nature 1. Needs and conveniences
    (ii) Types of accounts 2. No legal obligations
    (iii) Lack of uniformity 3. Real account and nominal accounts
    (iv) Suitability 4. Unsystematic way of transactions
  • 3)

    Single entry system keeps one cash book which mixes up business as well as ____ transactions.

  • 4)

    In single entry system, is not possible to prepare

  • 5)

    Interest on capital is calculate on which capital

12th Standard Accounts English Medium Free Online Test 1 Mark Questions 2020 - Part Eight - by Kokila - Tirunelveli View & Read

  • 1)

    Single entry system keeps one cash book which mixes up business as well as ____ transactions.

  • 2)

    Calculate the amount of net income or loss if the capital has been increased by Rs.1,000 during this accounting period drawings Rs.5,000 and Rs.1,000 fresh capital was introduced in the business

  • 3)

    Trial balance is not obtained in:

  • 4)

    Which one is correct

  • 5)

    Legacy is a

12th Standard Accounts English Medium Free Online Test One Mark Questions with Answer Key 2020 - Part Eight - by Kokila - Tirunelveli View & Read

  • 1)

    Which one of the following statements is not true in relation to incomplete records?

  • 2)

    _____ capital can be found by preparing a statement of affairs at the beginning of the year.

  • 3)

    In which of the following system of recording the financial statements reflect true and fair view of an entity and accounting records are considered to be more accurate?

  • 4)

    If debtors balance was Rs. 2.000 at 1st Jan.2017, credit sales made during the year were Rs.1,000 and Rs.1,500 were received from debtors, which of the following is the debtors account balance at 31st Dec. 2017?

  • 5)

    Statement of assets & liabilities prepared under double entry system is called:

12th Standard Accounts English Medium Free Online Test 1 Mark Questions 2020 - Part Nine - by Kokila - Tirunelveli View & Read

  • 1)

    Companies cannot keep books on single entry system because of

  • 2)

    True financial position cannot be ascertained as _____ is not prepared due to the absence of nominal and real accounts.

  • 3)

    If opening capital is Rs.10,000 & Closing capital is Rs.15,000 then profit or loss

  • 4)

    Subscription received but not yet earned is considered as a /an

  • 5)

    The maximum number of partners in a partnership firm is

12th Standard Accounts English Medium Free Online Test One Mark Questions with Answer Key 2020 - Part Nine - by Kokila - Tirunelveli View & Read

  • 1)

    What is the amount of capital of the proprietor, if his assets are Rs. 85,000 and liabilities are Rs. 21,000?

  • 2)

    Closing capital can be found by preparing a statement affairs at the _____ of the year.

  • 3)

    If opening capital Rs. 1,000 and closing capital Rs. 2000. Assuming no drawings during the accounting period, calculated the net income or loss for the period

  • 4)

    If opening capital is Rs.10,000 & Closing capital is Rs.15,000 then profit or loss

  • 5)

    When fixed capital method is adopted by a partnership firm, which of the following items will appear in capital account?

12th Standard Accounts English Medium Free Online Test 1 Mark Questions 2020 - Part Ten - by Kokila - Tirunelveli View & Read

  • 1)

    Effects of dishonour of B/R is given -

  • 2)

    A firm's total sales is Rs.80,000 and its credit sales id Rs.60,000 then its cash sales is - 

  • 3)

    Income and Expenditure Account is prepared to find out

  • 4)

    Income and Expenditure accounts show

  • 5)

    _______are the amounts received by not for- profit organisations as a gift

12th Standard Accounts English Medium Free Online Test One Mark Questions with Answer Key 2020 - Part Ten - by Kokila - Tirunelveli View & Read

  • 1)

    A business is said is to be used _____________ system. It is not following the complete the principles of bookkeeping of ___________ system.

  • 2)
    List I List II
    (i) Subscription 1. Revenue expenditure 
    (ii) Life membership fee  2. Capital expenditure
    (iii) Honorarium 3. Capital receipts
    (iv) Purchase of sports equipment 4. Revenue receipts
  • 3)

    In the absence of an agreement, partners are entitled to

  • 4)

    Indian partnership Act was enacted in the year ___________

  • 5)

    The total capitalised value of a business is Rs.1,00,000; assets are Rs.1,50,000 and liabilities are Rs.80,000. The value of goodwill as per the capitalisation method will be

12th Standard Accountancy English Medium Model 5 Mark Creative Questions (New Syllabus 2020) - by Kokila - Tirunelveli View & Read

  • 1)

    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
  • 2)

    From the following Receipts and Payments Account of Trichy, Rotary dub, prepare Income and Expenditure Account for the year ended 31.03.2019

    Receipts Rs Paymenta Rs
    To Opening Balance   By Furniture Purchased 10,000
    Cash in hand 11,000 By Rent 2,800
    To Sale of old newspaper 3,600 By Postage 1,700
    To Member's Subscription 31,000 By General expenses 4,350
    To Locker rent 8,000 By Printing and stationery 45,000
    To Interest on investments 1,250 By Audit fees 5,000
    To Sale of furniture 5,000 By Closing balance  
        Cash in hand 3,000
  • 3)

    Durga and Preethi entered into a partnership agreement on 1st April 2018, Durga contributing Rs.50,000 and Preethi Rs.60,000 as capital. The agreement provided that:
    (a) Profits and losses to be shared in the ratio 3:2 as between Durga and Preethi.
    (b) Partners to be entitled to interest on capital @ 5% p.a.
    (c) Interest on drawings to be charged Durga Rs.600 Velan Rs.900
    (d) Durga to receive a salary Rs.10,000 for the year and
    (e) Preethi to receive a commission of Rs.4,000 During the year, the firm made a profit of Rs.40,000 before adjustment of interest, salary and commission prepare the profit and loss appropriation account.

  • 4)

    From the following information, calculate the value of goodwill based on 3 years purchase of Super profit
    (i) Capital employed: 1,00,000
    (ii) Normal rate of return: 10%
    (iii)Average profit of the business: 42,000

  • 5)

    Sheela and Neela were sharing profits in the ratio of 4:3. Kamala was admitted with 1/5th share in profits of business. Calculated the New profit Ratio and the sacrificing ratio.

12th Standard Accountancy English Medium Model 5 Mark Book Back Questions (New Syllabus 2020) - by Kokila - Tirunelveli View & Read

  • 1)

    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%.

  • 2)

    Following is the Receipts and Payments Account of Salem Recreation Club for the year ended 31st March, 2019
    In the books of Salem Recreation Club Receipts and Payments Account for the year ended 31st March, 2019

    Dr.                                                                                              Cr.
    Receipts Rs. Rs. Payments Rs.
    To Balance b/d:     By Furniture 15,000
    Cash in hand   9,000 By Stationery 2,400
    To Subscriptions     By Investment 12,500
    2018 – 2019 12,500   By Postage 1,000
    2019 – 2020 400 12,900 By Balance c/d:  
    To Proceeds from entertainment   12,000 Cash in hand 3,500
    To Sundry receipts   500    
        34,400   34,400

    Additional information:
    (i) There are 450 members each paying annual subscription of Rs. 30.
    (ii) Stock of stationery on 31st March, 2018 Rs. 300 and on March 31, 2019 Rs. 500.
    (iii) Capital fund as on 1st April 2018 was Rs. 9,300.
    Prepare income and expenditure account for the year ended 31st March, 2019 and the balance sheet as on that date.

  • 3)

    From the following information, prepare capital accounts of partners Rooban and Deri, when their capitals are fixed.

    Particulars

    Rooban

    Rs.

    Deri
    Rs.
    Capital on 1st April, 201 70,000 50,000
    Current account on 1st April, 2018 (Cr.) 25,000 15,000
    Additional capital introduced 18,000 16,000
    Drawings during 2018 – 2019 10,000 6,000
    Interest on drawings 500 300
    Share of profit for 2018 – 2019 35,000 25,800
    Interest on capital 3,500 2,500
    Salary Nil 18,000
    Commission 12,000 Nil
  • 4)

    Find out the value of goodwill by capitalising super profits:
    (a) Normal Rate of Return 10%
    (b) Profits for the last four years are Rs.30,000, Rs.40,000, Rs.50,000 and Rs.45,000.
    (c) A non-recurring income of Rs.3,000 is included in the above mentioned profit of Rs.30,000.
    (d) Average capital employed is Rs.3,00,000.

  • 5)

    Rajan and Selva are partners sharing profits and losses in the ratio of 3:1. Their balance sheet as on 31st March 2017 is as under:

    Liabilities Rs. Rs. Assets Rs.
    Capital accounts:     Building 25,000
    Rajan 30,000   Furniture 1,000
    Selva 16,000   Stock 20,000
    General reserve   4,000 Debtors 16,000
    Creditors   37,500 Bills receivable 3,000
          Cash at bank 12,500
          Profit and loss account 10,000
        87,500   87,500

     On 1.4.2017, they admit Ganesan as a new partner on the following arrangements:
    (i) Ganesan brings Rs.10,000 as capital for 1/5 share of profit.
    (ii) Stock and furniture is to be reduced by 10%, a reserve of 5% on debtors for doubtful debts is to be created.
    (iii) Appreciate buildings by 20%.
    Prepare revaluation account, partners’ capital account and the balance sheet of the firm after admission.

12th Standard Accountancy English Medium Sample 5 Mark Creative Questions (New Syllabus 2020) - by Kokila - Tirunelveli View & Read

  • 1)

    What shall be the profits of the concern if:

    Particulars Rs.
    Opening capital 1,60,000
    Closing capital 1,80,000
    Drawings 36,000
    Additional capital 10,000
  • 2)

    From the following extract of Receipt and Payment Account and the additional information given below, compute the amount of income from subscriptions and show as how they would appear in the Income and Expenditure Account for the year ending March 31st, 2015 and Balance sheet.

    Dr Receipt and Payment Account for the year ending March 31, 2015 Cr
    Receipts Rs Payments Rs
    Subscription:      
    2013-14   7,000      
    2014-15   30,000      
    2015-16    5,000 42,000    

    Additional Information:
    (i) Subscriptions outstanding March 31, 2014 Rs. 8,500
    (ii) Total subscriptions outstanding March 31, 2015 Rs. 18,500
    (iii) Subscriptions received in advance as Rs. 4,000 on March 31, 2014.

  • 3)

    From the following balance sheets of Subha and Sudha who share profits and losses equally. Calculate interest on capital at 6% p.a for the year ending 31st December 2017.

    Balance sheet as.on 31st December 2017
    Liabilities Rs. Assets Rs.
    Capital accounts:   Fixed assets 60,000
    Subha 30,000 Current assets 20,000
    Sudha 40,000    
    P&L App A/C 10,000    
           
      80,000   80,000
           

    Drawing of Shubha and Sudha during the year were Rs.5,000 and Rs.7,000 respectively profit earned during the year was Rs.30,000.

  • 4)

    Calculate the value of goodwill at 5 years purchase of super profit from the following information
    (a) Capital employed: Rs. 60,000
    (b) Normal rate of profit: 20%
    (c) Net profit for 5 years
    2014:Rs.1,00,000, 2015: Rs.50,000 2016: Rs.70,000; 2017: Rs.54,000 and 2018: Rs. 10,000
    (d) Fair remuneration to the partners 3,600 per annum

  • 5)

    Lakshmi and Saraswathi are partners of a firm sharing profits and losses in proportion to capital. Trial Balance sheet as on 31st March 2019 is as under

    Liabilities Rs. Rs. Assets Rs. Rs.
    Sundry creditors   60,000 Bank   12,000
    Bills payable   40,000 Sundry debtors A/c   40,000
    Capital Accounts:     Stock   40,000
    Lakshmi 60,000   Plant   90,000
    Saraswathi 40,000 1,000,000 Furniture   18,000
        2,00,000     2,00,000

    They decided to admit Sulochana into the partnership with effect from 1st April, 2005 on the following terms.
    (a) Sulochana shall bring in a capital Rs. 50,000 for \(\frac{1}{5}\)th share of profits.
    (b) Goodwill is to be valued at Rs. 40,000.
    (c) Plant and furniture was to be depreciated by 5%
    (d) Provision for doubtful debts be created at 1\(\frac{1}{2}\%\) on sundry debtors.
    Show revaluation account, capital accounts, bank account and Balance sheet of the reconstituted partnership.

12th Standard Accountancy English Medium Sample 5 Mark Book Back Questions (New Syllabus 2020) - by Kokila - Tirunelveli View & Read

  • 1)

    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    
  • 2)

    From the following particulars of Chennai Sports Club, prepare Receipts and Payments
    account for the year ended 31st March, 2018.

    Particulars Rs. Particulars Rs. Rs.
    Opening cash balance as on 1.4.2017 10,000 Subscriptions received    
    Opening bank balance as on 1.4.2017 15,000 2016 – 2017 4,500  
    Interest paid 5,000 2017 – 2018 65,000  
    Depreciation 7,000 2018 – 2019 5,000 74,500
    Upkeep of grounds 22,500 Tournament expenses   12,500
    Life membership fees received 5,500 Tournament fund receipts   15,000
    Bats and balls purchased 13,000 Closing balance of cash
    (31.3.2018)
      5,000
  • 3)

    Bragathish and Naresh are partners who maintain their capital accounts under fixed capital method. From the following particulars, prepare capital accounts of partners.
     

    Particulars Bragathish
    Rs.

    Naresh
    Rs.

    Capital on 1st April 2018 4,00,000 6,00,000
    Current account on 1st April 2018 20,000(Cr.) 15,000(Dr.)
    Additional capital introduced during the 50,000 Nil
    Drawings made during the year 45,000 60,000
    Interest on drawings 2,000 3,000
    Share of profit for the year 80,000 1,20,000
    Interest on capital 20,000 30,000
    Commission 17,000 Nil
    Salary Nil 38,000
  • 4)

    From the following information, compute the value of goodwill by capitalising super profit:
    (a) Capital employed is Rs.4,00,000
    (b) Normal rate of return is 10%
    (c) Profit for 2016: Rs.62,000; 2017: Rs.61,000 and 2018: Rs.63,000

  • 5)

    Ameer and Raja are partners sharing profits in the ratio of 3:2. Their balance sheet is shown as under on 31.12.2018.

    Liabilities Rs. Rs. Assets Rs.
    Capital accounts:     Machinery 60,000
    Ameer 80,000   Furniture 40,000
    Raja 70,000 1,50,000 Debtors 30,000
    Reserve fund   15,000 Stock 10,000
    Creditors   35,000 Prepaid insurance 40,000
          Cash at bank 20,000
        2,00,000   2,00,000

     Rohit is admitted as a new partner who introduces a capital of Rs.30,000 for his 1/5 share in future profits. He brings Rs.10,000 for his share of goodwill.
    Following revaluations are made:
    (i) Stock is to be appreciated to Rs.14,000
    (ii) Furniture is to be depreciated by 5%
    (iii) Machinery is to be revalued at Rs.80,000
    Prepare the necessary ledger accounts and the balance sheet after the admission.

12th Standard Accountancy English Medium Important 5 Mark Creative Questions (New Syllabus 2020) - by Kokila - Tirunelveli View & Read

  • 1)

    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.

  • 2)

    How will the following items appear in the final accounts of sports club.

    Particulars Rs
    Stock of sports materials (1.4.2019) 3,000
    Sports materials purchased during  
    current year 9,000
    Sale of old sports materials during  
    current year 500
    Stock of sports materials (31.3 .20 19) 4,000
  • 3)

    Kala is a partner in a partnership firm. As per partnership deed, interest on drawings is charged at 12% p.a. During the year ended 31stDecember 2018. She drew as follows.

    Date Rs.
    March 1 12,000
    June 1 8,000
    September 1 10,000
    December 1 4,000

    Calculate the amount of interest on drawings by using produce method

  • 4)

    The profit and losses of a firm for the last four years were as follows:
    2015: Rs.20,000; 2016; Rs. 25,000;
    2017; Rs.3,000(loss) 2018; Rs.18,000
    You are required to calculate the amount of goodwill on the basis of 5 years purchase of average profit of the last 4 years.

  • 5)

    Kokila and Mala were sharing profits in the ratio of 4:3. Chandra was admitted in the business as a partner with \(\frac{3}{7}\)th share in the profits of the firm which she takes \(\frac{2}{7}\) th from Kokila and \(\frac{1}{7}\) th from Mala. Find out New profit Ratio and the sacrificing ratio.

12th Standard Accountancy English Medium Important 5 Mark Book Back Questions (New Syllabus 2020) - by Kokila - Tirunelveli View & Read

  • 1)

    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
  • 2)

    From the following particulars of Vellore Recreation Club, prepare Receipts and Payments
    account for the year ended 31st March, 2017.

    Particulars Rs. Particulars Rs.
    Opening cash balance as on 1.4.2016 3,000 Receipts from entertainment 20,000
    Opening bank balance as on 1.4.2016 12,000 Admission fees received 1,000
    Furniture purchased 11,000 Municipal taxes 22,000
    Sports equipment purchased 11,000 Expenses of charity show 2,000
    Donation received for pavilion 8,000 Billiards table purchased 15,000
    Sale of old tennis balls 1,500 Construction of new tennis court 18,000
    Newspapers bought 500 Receipts from charity show 2,500
    Travelling expenses 4,500 Closing balance of cash in hand 8,000
  • 3)

    Durai and Velan entered into a partnership agreement on 1st April 2018, Durai contributing Rs.25,000 and Velan Rs. 30,000 as capital. The agreement provided that:
    (a) Profits and losses to be shared in the ratio 2:3 as between Durai and Velan.
    (b) Partners to be entitled to interest on capital @ 5% p.a.
    (c) Interest on drawings to be charged Durai: Rs.300 Velan: Rs.450
    (d) Durai to receive a salary of Rs.5,000 for the year, and
    (e) Velan to receive a commission of Rs.2,000
    During the year, the firm made a profit of Rs.20,000 before adjustment of interest, salary and commission. Prepare the Profit and loss appropriation account.

  • 4)

    A partnership firm earned net profits during the last three years as follows:
    2016 : Rs.20,000; 2017 : Rs.17,000 and 2018 : Rs.23,000
    The capital investment of the firm throughout the above mentioned period has been Rs.80,000. Having regard to the risk involved, 15% is considered to be a fair return on capital employed
    in the business. Calculate the value of goodwill on the basis of 2 years purchase of super profit.

  • 5)

    Sai and Shankar are partners, sharing profits and losses in the ratio of 5:3. The firm’s balance sheet as on 31st December, 2017, was as follows:

    Liabilities Rs. Rs. Assets Rs. Rs.
    Capital accounts:     Building   34,000
    Sai 48,000   Furniture   6,000
    Shankar 40,000 88,000 Investment   20,000
    Creditors   37,000 Debtors 40,000  
    Outstanding wages   8,000 Less: Provision for
    bad debts
    3,000 37,000
          Bills receivable   12,000
          Stock   16,000
          Bank   8,000
        1,33,000     1,33,000

    On 31st December, 2017 Shanmugam was admitted into the partnership for 1/4 share of profit with Rs.12,000 as capital subject to the following adjustments.
    (a) Furniture is to be revalued at Rs.5,000 and building is to be revalued at Rs.50,000.
    (c) Provision for doubtful debts is to be increased to Rs.5,500
    (d) An unrecorded investment of Rs.6,000 is to be brought into account
    (e) An unrecorded liability Rs.2,500 has to be recorded now.
    Pass journal entries and prepare Revaluation Account and capital account of partners after
    admission.

12th Standard Accountancy English Medium Model 3 Mark Creative Questions (New Syllabus) 2020 - by Kokila - Tirunelveli View & Read

  • 1)

    Which values are affected, when accounts are maintained on single entry system basis.

  • 2)

    Yuvan foundation is formed to educate and to provide jobs to unemployed women. Identify the values involved.

  • 3)

    The firm of A and B earned a profit of Rs.2,75,000 during the year ending on 31st March, 2015. They have decided to donate 10% of this profit to an NGO working for senior citizens. Pass necessary journal entry for the distribution of profits. Identify the values shown by the firm in donating a part of profit of NGO.

  • 4)

    How is goodwill calculated under the weighted average profit method?

  • 5)

    Write a short note on
    (i) Public issue
    (ii) Private placement

12th Standard Accountancy English Medium Model 3 Mark Book Back Questions (New Syllabus) 2020 - by Kokila - Tirunelveli View & Read

  • 1)

    From the following details, calculate the capital as on 31st December 2018:

      Rs
    Capital as on 1st January, 2018 27,500
    Goods taken for the personal use of the proprietor 5,000
    Profit for the year 10,000
  • 2)

    From the following particulars, calculate total sales.

    Particulars Rs
    Debtors on 1st April 2017 1,50,000
    Bills receivable on 1st April 2017 40,000
    Cash received from debtors 3,90,000
    Cash received for bills receivable 90,000
    Bills receivable dishonoured 10,000
    Sales return 40,000
    Bills receivable on 31st March, 2018 30,000
    Sundry debtors on 31st March, 2018 1,30,000
    Cash sales 2,00,000
  • 3)

    State the procedure for calculating profit or loss through statement of affairs.

  • 4)

    On 1st April 2018 Subha started her business with a capital of Rs.1,20,000. She did not maintain proper book of accounts. Following particulars are available from her books as on 31.3.2019.

    Particulars Rs. Particulars Rs.
    Bank overdraft 50,000 Stock-in-trade 1,60,000
    Debtors 1,80,000 Creditors 90,000
    Bills receivable 70,000 Bills payable 2,40,000
    Computer 30,000 Cash in hand 60,000
    Machinery 3,00,000    

    During the year she withdrew Rs 30,000 for her personal use. She introduced further capital of Rs.40,000 during the year. Calculate her profit or loss.

  • 5)

    From the following particulars calculate total purchases

    Particulars Rs. Particulars Rs.
    Sundry creditors on 1st January, 2018 30,000 Purchases returns 15,000
    Bills payable on 1st January, 2018 25,000 Cash purchases 2,25,000
    Paid cash to creditors 1,20,000 Creditors on 31st December, 2018 25,000
    Paid for bills payable 30,000 Bills payable on 31st December, 2018 20,000

12th Standard Accountancy English Medium Sample 3 Mark Creative Questions (New Syllabus) 2020 - by Kokila - Tirunelveli View & Read

  • 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)

    Youth of India sports club decided to donate ~ 50,000 and spread awareness among the people of nearby societies about cleanliness in the country under the programme "Bharat Abhiyan". Identify the values highlighted.

  • 3)

    What is Fluctuating capital method?

  • 4)

    How is goodwill calculated under the weighted average profit method?

  • 5)

    Explains the divisions of share capital.

12th Standard Accountancy English Medium Sample 3 Mark Book Back Questions (New Syllabus) 2020 - by Kokila - Tirunelveli View & Read

  • 1)

    From the following particulars calculate total purchases

    Particulars Rs
    Sundry creditors on 1st April, 2017 75,000
    Bills payable on 1st April, 2017 60,000
    Paid cash to creditors 3,70,000
    Paid for bills payable 1,00,000
    Purchases returns 15,000
    Cash purchases 3,20,000
    Creditors on 31st March, 2018 50,000
    Bills payable on 31st March, 2018 80,000
  • 2)

    Following are the balances in the books of Thomas as on 31st March 2019.

    Particulars Rs. Particulars Rs.
    Sundry creditors 6,00,000 Bills payable 1,20,000
    Furniture 80,000 Cash in hand 20,000
    Land and building 3,00,000 Bills receivable 60,000
    Sundry Debtors 3,20,000 Stock 2,20,000

    Prepare a statement of affairs as on 31st March 2019 and calculate capital as at that date.

  • 3)

    From the following particulars, calculate total sales

    Particulars Rs. Particulars Rs.
    Debtors on 1st April 2018 2,50,000 Bills receivable dishonoured 15,000
    Bills receivable on 1st April 2018 60,000 Returns inward 50,000
    Cash received from debtors 7,25,000 Bills receivable on 31st March, 2019 90,000
    Cash received for bills receivable 1,60,000 Sundry debtors on 31st March, 2019 2,40,000
    Bad debts 30,000 Cash sales 3,15,000
  • 4)

    Compute capital fund of Karur Social Club as on 31.03.2018

    Particulars as on 31.03.2018 Rs.
    Furniture 50,000
    Buildings 40,000
    Subscription outstanding for 2017-18 10,000
    Subscription received in advance for 2018-19 5,000
    Loan borrowed 10,000
    Investments 20,000
    Cash in hand 4,000
    Cash at bank 6,000
  • 5)

    How will the following appear in the final accounts of Karaikudi sports club for the year ending 31st March, 2019?

    Particulars Rs.
    Tournament fund on 1st April 2018 90,000
    Tournament fund investment on 1st April 2018 90,000
    Interest received on tournament fund investment 9,000
    Donation to tournament fund 10,000
    Tournament expenses 60,000

12th Standard Accountancy English Medium Important 3 Mark Creative Questions (New Syllabus) 2020 - by Kokila - Tirunelveli View & Read

  • 1)

    Which values are affected, when accounts are maintained on single entry system basis.

  • 2)

    Yuvan foundation is formed to educate and to provide jobs to unemployed women. Identify the values involved.

  • 3)

    What is Fluctuating capital method?

  • 4)

    Explain the classification of goodwill.

  • 5)

    Write a short note on
    (i) Public issue
    (ii) Private placement

12th Standard Accountancy English Medium Important 3 Mark Book Back Questions (New Syllabus) 2020 - by Kokila - Tirunelveli View & Read

  • 1)

    From the following details, calculate the missing figure:

      Rs
    Capital as on 1st April, 2017 2,50,000
    Capital as on 31st March, 2018 2,75,000
    Additional capital introduced during the year 30,000
    Profit for the year 15,000
    Drawings during the year ?
  • 2)

    From the following particulars, calculate total sales.

    Particulars Rs
    Debtors on 1st April 2017 1,50,000
    Bills receivable on 1st April 2017 40,000
    Cash received from debtors 3,90,000
    Cash received for bills receivable 90,000
    Bills receivable dishonoured 10,000
    Sales return 40,000
    Bills receivable on 31st March, 2018 30,000
    Sundry debtors on 31st March, 2018 1,30,000
    Cash sales 2,00,000
  • 3)

    State the differences between double entry system and incomplete records.

  • 4)

    Following are the balances in the books of Thomas as on 31st March 2019.

    Particulars Rs. Particulars Rs.
    Sundry creditors 6,00,000 Bills payable 1,20,000
    Furniture 80,000 Cash in hand 20,000
    Land and building 3,00,000 Bills receivable 60,000
    Sundry Debtors 3,20,000 Stock 2,20,000

    Prepare a statement of affairs as on 31st March 2019 and calculate capital as at that date.

  • 5)

    From the following particulars of Tamil Educational Society, prepare Receipts and Payments account for the year ended 31st March, 2019.

    Particulars Rs. Particulars Rs.
    Opening cash balance as on 1.4.2018 18,000 Building purchased 2,10,000
    Rent paid 6,000 Staff salary 55,000
    Scholarship given 15,200 Subscription received 2,65,000
    Entrance fees received 18,500    

12th Accounts English Medium Model 2 Mark Creative Questions (New Syllabus) 2020 - by Kokila - Tirunelveli View & Read

  • 1)

    Can a limited company maintain its accounts under single entry system?

  • 2)

    What are the possible reasons for keeping incomplete records?

  • 3)

    Write a note on Donations

  • 4)

    Income and expenditure account of a not-for-profit organization is akin to profit and loss account ofa business concern. Explain the statement.

  • 5)

    Suresh and Ramesh are partners in a firm with capitals of Rs.3,00,000 and Rs.4,00,000 respectively. The do not have a partnership deed. Ramesh wants to share the profits in the ratio of capitals. State with reason whether the claim is valid

12th Accounts English Medium Model 2 Mark Book Back Questions (New Syllabus) 2020 - by Kokila - Tirunelveli View & Read

  • 1)

    Following are the balances of Shanthi as on 31st December 2018.find out capital

    Particulars Rs Particulars Rs
    Bills receivable 6,000 Sundry creditors 25,000
    Bills payable 4,000 Stock 45,000
    Machinery 60,000 Debtors 70,000
    Furniture 10,000 Cash 4,000
  • 2)

    From the following details calculate the amount that will be shown as subscription in Income
    and Expenditure Account for the year ending 31st March, 2017.

    Subscription received for Rs.
    2015-16 7,500
    2016-17 60,000
    2017-18 1,500
      69,000

    Subscription outstanding for the year 2016-17 is Rs. 2,400. Subscription for 2016-17 received in 2015-16 was Rs.1,000

     

  • 3)

    How will the following items appear in the final accounts of a club for the year ending 31st March 2017? Received subscription of Rs.40,000 during the year 2016-17. This includes subscription of Rs.5,000 for 2015-16 and Rs.3,000 for the year 2017-18. Subscription of 1,000 is still outstanding for the year 2016-17.

  • 4)

    Antony and Akbar were partners who share profits and losses in the ratio of 3:2. Balance in their capital account on 1st January 2018 was Antony Rs.60,000 and Akbar Rs.40,000. On 1st April 2018 Antony introduced additional capital of Rs.10,000. Akbar introduced additional capital of Rs.5,000 during the year. Calculate interest on capital at 6% p.a. for the year ending 31st December 2018.

  • 5)

    From the following information, find out the value of goodwill by capitalisation method:
    (a) Average profit = Rs.60,000
    (b) Normal rate of return = 10%
    (c) Capital employed = Rs.4,50,000

12th Accounts English Medium Sample 2 Mark Creative Questions (New Syllabus) 2020 - by Kokila - Tirunelveli View & Read

  • 1)

    Can a limited company maintain its accounts under single entry system?

  • 2)

    Write a note on Donations

  • 3)

    Every receipt and Payments, whether capital or revenue and irrespective of the period is recorded in receipts and payments accounts why? Give reason.

  • 4)

    If the partner's capital accounts are fixed, where will you record the following items?
    (a) Salary payable to a partner
    (b) Drawings made by a partner

  • 5)

    Interest on partner's capital and interest on drawings are recorded through profit and loss appropriation account instead of profit and loss account. Why?

12th Accounts English Medium Sample 2 Mark Book Back Questions (New Syllabus) 2020 - by Kokila - Tirunelveli View & Read

  • 1)

    Find out credit sales from the following information:

      Rs.
    Debtors on 1st January 2018 40,000
    Cash received from debtors 1,00,000
    Discount allowed 5,000
    Sales returns 2,000
    Debtors on 31st December 2018 Debtors on 31st December 2018
  • 2)

    Find out credit sales from the following information:

    Particulars Rs.
    Debtors on 1st April, 2018 1,00,000
    Cash received from debtors 2,30,000
    Discount allowed 5,000
    Returns inward 25,000
    Debtors on 31st March 2019 1,20,000
  • 3)

    From the following Receipts and Payment Account of Ooty Recreation Club, prepare Income
    and Expenditure Account for the year ended 31.03.2018

    Receipts Rs. Payments Rs.
    To Opening balance   By Sports materials purchased 10,000
    Cash in hand 5,000 By Stationery paid 7,000
    To Rent received 10,000 By Computer purchased 25,000
    To Sale of investments 8,000 By Salaries 20,000
    To Subscription received 54,000 By Closing balance  
        Cash in hand 15,000
      77,000   77,000
  • 4)

    Antony and Akbar were partners who share profits and losses in the ratio of 3:2. Balance in their capital account on 1st January 2018 was Antony Rs.60,000 and Akbar Rs.40,000. On 1st April 2018 Antony introduced additional capital of Rs.10,000. Akbar introduced additional capital of Rs.5,000 during the year. Calculate interest on capital at 6% p.a. for the year ending 31st December 2018.

  • 5)

    From the following information, find out the value of goodwill by capitalisation method:
    (a) Average profit = Rs.60,000
    (b) Normal rate of return = 10%
    (c) Capital employed = Rs.4,50,000

12th Accounts English Medium Important 2 Mark Creative Questions (New Syllabus) 2020 - by Kokila - Tirunelveli View & Read

  • 1)

    Why is statement of affairs prepared under single entry system not referred to as balance sheet?

  • 2)

    Write a note on Donations

  • 3)

    Income and expenditure account of a not-for-profit organization is akin to profit and loss account ofa business concern. Explain the statement.

  • 4)

    What is partner's current Account?

  • 5)

    Suresh and Ramesh are partners in a firm with capitals of Rs.3,00,000 and Rs.4,00,000 respectively. The do not have a partnership deed. Ramesh wants to share the profits in the ratio of capitals. State with reason whether the claim is valid

12th Accounts English Medium Important 2 Mark Book Back Questions (New Syllabus) 2020 - by Kokila - Tirunelveli View & Read

  • 1)

    From the following particulars ascertain profit or loss: 

      Rs.
    Capital at the beginning of the year (1st April, 2016) 2,00,000
    Capital at the end of the year (31st March, 2017) 3,50,000
    Additional capital introduced during the year 70,000
    Drawings during the year 40,000
  • 2)

    From the following Receipts and Payment Account of Ooty Recreation Club, prepare Income
    and Expenditure Account for the year ended 31.03.2018

    Receipts Rs. Payments Rs.
    To Opening balance   By Sports materials purchased 10,000
    Cash in hand 5,000 By Stationery paid 7,000
    To Rent received 10,000 By Computer purchased 25,000
    To Sale of investments 8,000 By Salaries 20,000
    To Subscription received 54,000 By Closing balance  
        Cash in hand 15,000
      77,000   77,000
  • 3)

    Antony and Akbar were partners who share profits and losses in the ratio of 3:2. Balance in their capital account on 1st January 2018 was Antony Rs.60,000 and Akbar Rs.40,000. On 1st April 2018 Antony introduced additional capital of Rs.10,000. Akbar introduced additional capital of Rs.5,000 during the year. Calculate interest on capital at 6% p.a. for the year ending 31st December 2018.

  • 4)

    From the following information, find out the value of goodwill by capitalisation method:
    (a) Average profit = Rs.60,000
    (b) Normal rate of return = 10%
    (c) Capital employed = Rs.4,50,000

  • 5)

    What is super profit?

12th Standard Accountancy English Medium Model 1 Mark Book Back Questions (New Syllabus) 2020 - by Kokila - Tirunelveli View & Read

  • 1)

    Debtors on 1.4.2018 was Rs.1,00,000 and on 31.3.2019 was Rs.80,000 cash received from debtors during the year is Rs.1,60,000. Then the credit sales during the year is

  • 2)

    Incomplete records are those records which are not kept under ____ system

  • 3)

    If it is desired to calculate profit by preparing trading and profit and loss account under single entry then it is called ______ method.

  • 4)

    Single entry system has effect

  • 5)

    In single entry two-fold aspects of transaction are not recorded, so it is

12th Standard Accountancy English Medium Model 1 Mark Book Back Questions (New Syllabus) 2020 - by Kokila - Tirunelveli View & Read

  • 1)

    Which one of the following statements is not true in relation to incomplete records?

  • 2)

    Income and expenditure account is a

  • 3)

    There are 500 members in a club each paying Rs.100 as annual subscription. Subscription due but not received for the current year is Rs.200; Subscription received in advance is Rs.300.Find out the amount of subscription to be shown in the income and expenditure account

  • 4)

    When a partner withdraws regularly a fixed sum of money at the middle of every month, period for which interest is to be calculated on the drawings on an average is

  • 5)

    Profit after interest on drawings, interest on capital and remuneration is Rs.10,500. Geetha, a partner, is entitled to receive commission @ 5% on profits after charging such commission. Find out commission.

12th Standard Accountancy English Medium Sample 1 Mark Creative Questions (New Syllabus) 2020 - by Kokila - Tirunelveli View & Read

  • 1)

    Credit purchase is obtained from

  • 2)

    Match List I with List II and Select the Correct Answer using the Codes given below.

    List I List II
    (i) Nature 1. Needs and conveniences
    (ii) Types of accounts 2. No legal obligations
    (iii) Lack of uniformity 3. Real account and nominal accounts
    (iv) Suitability 4. Unsystematic way of transactions
  • 3)

    Closing capital can be found by preparing a statement affairs at the _____ of the year.

  • 4)

    In which of the following system of recording the financial statements reflect true and fair view of an entity and accounting records are considered to be more accurate?

  • 5)

    Calculate the amount of net income or loss if the capital has been increased by Rs.1,000 during this accounting period drawings Rs.5,000 and Rs.1,000 fresh capital was introduced in the business

12th Standard Accountancy English Medium Sample 1 Mark Book Back Questions (New Syllabus) 2020 - by Kokila - Tirunelveli View & Read

  • 1)

    The excess of assets over liabilities is

  • 2)

    What is the amount of capital of the proprietor, if his assets are Rs. 85,000 and liabilities are Rs. 21,000?

  • 3)

    Income and expenditure account is a

  • 4)

    Legacy is a

  • 5)

    As per the Indian Partnership Act, 1932, the rate of interest allowed on loans advanced by partners is

12th Standard Accountancy English Medium Important 1 Mark Creative Questions (New Syllabus) 2020 - by Kokila - Tirunelveli View & Read

  • 1)

    The total assets of a proprietor are Rs.5,00,000. His liabilities Rs.3,50,000. Then his capital in the business is

  • 2)

    Capital at the end - net profit + drawings = 

  • 3)

    Income and Expenditure account is based on

  • 4)
    List I List II
    (i) Subscription 1. Balls, bats
    (ii) Investments 2. Time of admission
    (iii) Old sports materials 3. Receive interest
    (iv) Admission fee 4. Tennis or billiards
  • 5)

    The profit or loss arising from the partnership business is shared by the partners in the

12th Standard Accountancy English Medium Important 1 Mark Book Back Questions (New Syllabus) 2020 - by Kokila - Tirunelveli View & Read

  • 1)

    Statement of affairs is a

  • 2)

    Receipts and payments account records receipts and payments of

  • 3)

    In the absence of an agreement among the partners, interest on capital is

  • 4)

    Super profit is the difference between

  • 5)

    On revaluation, the increase in the value of assets leads to

12th Standard Accountancy One Mark important Questions Book back and Creative - 2020 - by Kokila - Tirunelveli View & Read

  • 1)

    Incomplete records are generally maintained by

  • 2)

    When capital in the beginning is Rs 10,000, drawings during the year is Rs.6,000, profit made during the year is Rs2,000 and the additional capital introduced is 3,000, find out the amount of capital at the end

  • 3)

    Balance sheet is prepared under

  • 4)

    ______________ is not based on dual aspect concept

  • 5)

    Receipts and payments account records receipts and payments of

12th Standard Accountancy English Medium All Chapter Book Back and Creative Five Marks Questions 2020 - by Kokila - Tirunelveli View & Read

  • 1)

    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.

  • 2)

    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.

  • 3)

    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
  • 4)

    From the following details of vijay 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 As on 1.4.2017
              Rs.
    As on 31.3.2018
              Rs.
    Sundry Creditors 37,500 43,750
    Furniture 2,500 2,500
    Cash 6,250 10,000
    Sundry debtors 62,500 87,500
    Stock 25,000 12,500

     Other details:

      Rs.
    Drawings 10,000
    Discount received 3,750
    Discount allowed 2,500
    Cash received from sundry debtors 1,35,000
    Cash paid to creditors 1,12,500
    Sales returns 3,750
    Purchase returns 1,250
    Sundry expenses paid 8,750
  • 5)

    From the following receipts and payment account, prepare income and expenditure account of Kumbakonam Basket Ball Association for the year ended 31st March, 2018

    Receipts Rs. Rs. Payments Rs. Rs.
    To Balance b/d     By Rent of ground paid   12,000
    Cash in hand 23,000   By Printing charges   5,000
    To Rent of hall received 12,000 6,000 By Insurance for building   2,000
    To Subscription received   9,000 By Tournament expenses   16,000
    To Life membership fees   7,000 By Audit fees   3,000
    To Locker rent received   2,000 By Sports materials purchased   4,000
          By Balance c/d    
          Cash in hand 2,000  
          Cash at bank 14,000 16,000
        59,000     59,000

12th Standard Accountancy English Medium All Chapter Book Back and Creative One Marks Questions 2020 - by Kokila - Tirunelveli View & Read

  • 1)

    Which of the following items relating to bills payable is transferred to total creditors account?

  • 2)

    The amount of credit sales can be computed from

  • 3)

    If opening capital Rs. 1,000 and closing capital Rs. 2000. Assuming no drawings during the accounting period, calculated the net income or loss for the period

  • 4)

    A firm has liabilities is Rs.50,000 and Capital is Rs.25,000. Then its assets is ______________

  • 5)

    Which of the following should not be recorded in the income and expenditure account?

12th Standard Accountancy English Medium All Chapter Book Back and Creative Three Marks Questions 2020 - by Kokila - Tirunelveli View & Read

  • 1)

    David does not keep proper books of accounts. Following details are given from his records

    Particulars 1.4.2018
    Rs
    31.3.2019
    Rs
    Cash 43,000 29,000
    Stock of goods 1,20,000 1,30,000
    Sundry debtors 84,000 1,10,000
    Sundry creditors 1,05,000 1,02,000
    Loan 25,000 20,000
    Business premises 2,50,000 2,50,000
    Furniture 33,000 45,000

    During the year he introduced further capital of Rs. 45,000 and withdrew Rs. 2,500 per month from the business for his personal use. Prepare statement of profit or loss with the above information.

  • 2)

    From the following particulars, calculate total sales.

    Particulars Rs
    Debtors on 1st April 2017 1,50,000
    Bills receivable on 1st April 2017 40,000
    Cash received from debtors 3,90,000
    Cash received for bills receivable 90,000
    Bills receivable dishonoured 10,000
    Sales return 40,000
    Bills receivable on 31st March, 2018 30,000
    Sundry debtors on 31st March, 2018 1,30,000
    Cash sales 2,00,000
  • 3)

    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
  • 4)

    Which values are affected, when accounts are maintained on single entry system basis.

  • 5)

    How the following items are dealt with in the final accounts of not–for–profit organisation?
    a) Sale of sports materials
    b) Life membership fees
    c) Tournament fund

12th Standard Accountancy English Medium All Chapter Book Back and Creative Two Marks Questions 2020 - by Kokila - Tirunelveli View & Read

  • 1)

    From the following details, calculate credit purchases

    Particulars Rs
    Creditors on 1st April, 2018 50,000
    Returns outward 6,000
    Cash paid to creditors 1,60,000
    Creditors on 31st March, 2019 70,000
  • 2)

    From the following details, calculate credit purchases

    Particulars Rs.
    Opening creditors 1,70,000
    Purchase returns 20,000
    Cash paid to creditors 4,50,000
    Closing creditors 1,90,000
  • 3)

    Under single entry system is it possible to check the arithmetical accuracy of books of accounts?

  • 4)

    What are the possible reasons for keeping incomplete records?

  • 5)

    How will the following appear in the final accounts of a club for the year 2017 –2018?

    Particulars Rs.
    Prize fund on 1.4.2017 60,000
    Prize fund investment on 1.4.2017 60,000
    Interest received on prize fund investment 6,000
    Prizes distributed 8,000
    Donation received for prize fund 12,000

12th Accounts - Incomplete Records 1 marks important question - by QB365 School View & Read

12th standard Accounts - Incomplete Records 2 marks important question - by QB365 School View & Read

12th standard Accounts - Incomplete Records 3 marks important question - by QB365 School View & Read

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12th standard Accounts - Incomplete Records - 1 marks important questiona - by QB365 School View & Read

12th standard Accounts - Incomplete Records - 2 marks important question - by QB365 School View & Read

12th standard Accounts - Incomplete Records- 3 marks important question - by QB365 School View & Read

12th standard Accounts - Incomplete Records- 5 marks important question - by QB365 School View & Read

12th standard Accounts Incomplete Records- model question - by QB365 School View & Read

12th Accountancy - Computerized Accounting System Tally - Two Marks Study Materials - by 8682895000 View & Read

  • 1)

    What is automated accounting system?

  • 2)

    What are accounting reports?

  • 3)

    State any five accounting reports.

  • 4)

    What is Accounting Information System (AIS)?

  • 5)

    What is a group in Tally.ERP 9?

12th Accountancy - Ratio Analysis - Two Marks Study Materials - by 8682895000 View & Read

  • 1)

    What is meant by accounting ratios?

  • 2)

    What is quick ratio?

  • 3)

    What is meant by debt equity ratio?

  • 4)

    What does return on investment ratio indicate?

  • 5)

    State any two limitations of ratio analysis.

12th Accountancy - Financial Statement Analysis - Two Marks Study Materials - by 8682895000 View & Read

  • 1)

    From the following particulars, prepare comparative income statement of Tharun Co. Ltd.

    Particulars 2016-17 2017-18
      Rs. Rs.
    Revenue from operations 2,00,000 2,50,000
    Other income 50,000 40,000
    Expenses 1,50,000 1,20,000
  • 2)

    From the following particulars, prepare comparative income statement of Abdul Co. Ltd.

    Particulars 2015-16
    Rs.
    2016-17
    Rs.
    Revenue from operations 3,00,000 3,60,000
    Other income 1,00,000 60,000
    Expenses 2,00,000 1,80,000
    Income tax 30% 30%
  • 3)

    From the following particulars, prepare comparative income statement of Mary Co. Ltd.

    Particulars 2015-16
    Rs.
    2016-17
    Rs.
    Revenue from operations 4,00,000 5,00,000
    Operating expenses 2,00,000 1,80,000
    Income tax (% of the profit before tax) 20 50
  • 4)

    From the following balance sheet of Chandra Ltd, prepare comparative balance sheet as on
    31st March 2016 and 31st March 2017.

    Particulars 31st March 2016 31st March 2017
      Rs. Rs.
    I EQUITY AND LIABILITIES    
    Shareholders’ fund 1,00,000 2,60,000
    Non-current liabilities 50,000 60,000
    Current liabilities 25,000 30,000
    Total 1,75,000 3,50,000
    II ASSETS 1,00,000 2,00,000
    Current assets 75,000 1,50,000
    Total 1,75,000 3,50,000
  • 5)

    From the following particulars, prepare comparative balance sheet of Malar Ltd as on 31st
    March 2016 and 31st March 2017.

    Particulars 31st March 2016 31st March 2017
      RS. Rs.
    I EQUITY AND LIABILITIES    
    1. Shareholders’ fund    
    a) Share capital 2,00,000 2,50,000
    b) Reserves and surplus 50,000 50,000
    2. Non-current liabilities    
    Long-term borrowings 30,000 60,000
    3. Current liabilities    
    Trade payables 20,000 60,000
    Total 3,00,000 4,20,000
    II ASSETS    
    1. Non-current assets    
    a) Fixed assets 1,00,000 1,50,000
    b) Non - current investments 50,000 75,000
    2. Current assets    
    Inventories 75,000 1,50,000
    Cash and cash equivalents 75,000 45,000
    Total 3,00,000 4,20,000

12th Accountancy - Company Accounts - Two Marks Study Materials - by 8682895000 View & Read

  • 1)

    Thai Ltd. issued 1,00,000 equity shares of Rs.10 each, payable Rs.5 on application, Rs.2 on allotment Rs.2 on first call and Rs.1 on final call. All the shares are subscribed and amount was duly received. Pass journal entries.

  • 2)

    Joy Company issued 10,000 equity shares at Rs.10 per share payable Rs.5 on application, Rs.3 on allotment and Rs.2 on first and final call. The public subscribed for 9,000 shares. The directors allotted all the 9,000 shares and duly received the money. Pass the necessary journal entries.

  • 3)

    Bharath Ltd. issued 1,00,000 equity shares of  Rs. 10 each to the public at par. The details of the
    amount payable on the shares are as follows:

    On application Rs.5 per share
    On allotment Rs.3 per share
    On first and final call Rs.2 per share

    Application money was received for 1,20,000 shares. Excess application money was refunded immediately. Pass journal entries to record the above.

  • 4)

    Khan Ltd. issued 50,000 shares of  Rs.10 each to the public payable Rs.4 on application, Rs.4 on allotment and Rs.2 on first and final call. Applications were received for 65,000 shares. The directors decided to allot 50,000 shares on pro rata basis and surplus application money was utilised for allotment. Pass journal entries assuming that the amounts due were received.

  • 5)

    Sudha Ltd. offered 1,00,000 shares of Rs.10 each to the public payable Rs.3 on application, Rs.4 on share allotment and the balance when required. Applications for 1,40,000 shares were received on which the directors allotted as:
    Applicants for 60,000 shares - Full
    Applicants for 75,000 shares - 40,000 shares (excess money will be utilised for allotment)
    Applicants for 5,000 shares - Nil
    All the money due was received. Pass journal entries upto the receipt of allotment.

12th Accountancy - Retirement and Death of a Partner - Two Marks Study Materials - by 8682895000 View & Read

  • 1)

    Vivin, Hari and Joy are partners sharing profits and losses in the ratio of 3:2:1. On 31.3.2017, Hari retired. On the date of retirement, the books of the firm showed a general reserve of Rs. 60,000. Pass the journal entry to transfer the general reserve.

  • 2)

    Mary, Meena and Mariam are partners of a firm sharing profits and losses equally. Mary retired from the partnership on 1.1.2019. On that date, their balance sheet showed accumulated loss of Rs. 75,000 on the asset side of the balance sheet. Give the journal entry to distribute the accumulated loss.

  • 3)

    Kiran, Vinoth and Vimal are partners sharing profits in the ratio of 5:3:2. Kiran retires and the
    new profit sharing ratio between Vinoth and Vimal is 2:1. Calculate the gaining ratio.

  • 4)

    Rahul, Ravi and Rohit are partners sharing profits and losses in the ratio of 5:3:2. Rohit retires
    and the share is taken by Rahul and Ravi in the ratio of 3:2. Find out the new profit sharing ratio and gaining ratio.

  • 5)

    What is meant by retirement of a partner?

12th Accountancy - Admission of a Partner - Two Marks Study Materials - by 8682895000 View & Read

  • 1)

    Suresh and Dinesh are partners sharing profits in the ratio of 3:2. They admit Ramesh as a new partner. Suresh surrenders 1/5 of his share in favour of Ramesh. Dinesh surrenders 2/5 of his share in favour of Ramesh. Calculate the new profit sharing ratio and sacrificing ratio.

  • 2)

    Prasanth and Nisha are partners sharing profits and losses in the ratio of 3:2. They admit Ramya as a new partner. Prasanth surrenders 2/5 of his share and Nisha surrenders 2/5 of her share in favour of Ramya. Calculate the new profit sharing ratio and sacrificing ratio.

  • 3)

    Anil, Sunil and Hari are partners in a firm sharing profits in the ratio of 4:3:3. They admit Raja for 20% profit. Calculate the new profit sharing ratio and sacrificing ratio.

  • 4)

    Ashok and Mumtaj were partners in a firm sharing profits and losses in the ratio of 5:1. They have decided to admit Tharun into the firm for 2/9 share of profits. The goodwill of the firm on the date of admission was valued at Rs.27,000. Tharun is not able to bring in cash for his share of goodwill. Pass necessary journal entries for goodwill on the assumption that the fluctuating capital system is followed.

  • 5)

    Ananth and Suman are partners sharing profits and losses in the ratio of 3:2. They admit Saran for 1/5 share, which he acquires entirely from Ananth. Find out the new profit sharing ratio and sacrificing ratio.

12th Accountancy - Goodwill In Partnership Accounts - Two Marks Study Materials - by 8682895000 View & Read

  • 1)

    A partnership firm has decided to value its goodwill for the purpose of settling a retiring partner. The profits of that firm for the last four years were as follows:
    2015: Rs.40,000; 2016: Rs.50,000; 2017: Rs.48,000 and 2018: Rs.46,000
    The business was looked after by a partner. No remuneration was paid to him. The fair remuneration of the partner valued at comes to Rs.6,000 per annum.
    Find out the value of goodwill, if it is valued on the basis of three years purchase of the average profits of the last four years

  • 2)

    From the following information, find out the value of goodwill by capitalisation method:
    (a) Average profit = Rs.60,000
    (b) Normal rate of return = 10%
    (c) Capital employed = Rs.4,50,000

  • 3)

    The following are the profits of a firm in the last five years:
    2014: Rs.10,000; 2015: Rs.11,000; 2016: Rs.12,000; 2017: Rs.13,000 and 2018: Rs.14,000
    Calculate the value of goodwill at 2 years purchase of average profit of five years.

  • 4)

    From the following information, calculate the value of goodwill on the basis of 3 years purchase of average profits of last four years.

    Year Result Amount
    Rs.
    2015 Profit 5,000
    2016 Profit 8,000
    2017 Loss 3,000
    2018 Profit 6,000
  • 5)

    What is goodwill?

12th Accountancy - Accounts of Partnership Firms-Fundamentals - Two Marks Study Materials - by 8682895000 View & Read

  • 1)

    Mannan and Ramesh share profits and losses in the ratio of 3:1. The capital on 1st April 2017 was Rs.80,000 for Mannan and Rs.60,000 for Ramesh and their current accounts show a credit balance of Rs.10,000 and Rs.5,000 respectively. Calculate interest on capital at 5% p.a. for the year ending 31st March 2018 and show the journal entries.

  • 2)

    What is a partnership deed?

  • 3)

    Mannan and Ramesh share profits and losses in the ratio of 3:2 and their capital on 1st April, 2018 was Mannan Rs.1,50,000 and Ramesh Rs.1,00,000 respectively and their current accounts show a credit balance of Rs.25,000 and Rs.20,000 respectively. Calculate interest on capital at 6% p.a. for the year ending 31st March, 2019 and show the journal entries.

  • 4)

    Santhosh is a partner in a partnership firm. As per the partnership deed, interest on drawings is charged at 6% per annum. During the year ended 31st December, 2018 he withdrew as follows:

    Date Rs.
    February 1 2,000
    May 1 10,000
    July 1 4,000
    October 1 6,000

    Calculate the amount of interest on drawing.

  • 5)

    Ram and Shyam were partners. Ram withdrew Rs.18,000 at the beginning of each half year. Interest on drawings is chargeable @ 10% p.a. Calculate interest on the drawings for the year ending 31st December 2018 using average period.

12th Accountancy - Accounts of Not-For-Profit Organisation - Two Marks Study Materials - by 8682895000 View & Read

  • 1)

    From the following details calculate the amount that will be shown as subscription in Income
    and Expenditure Account for the year ending 31st March, 2017.

    Subscription received for Rs.
    2015-16 7,500
    2016-17 60,000
    2017-18 1,500
      69,000

    Subscription outstanding for the year 2016-17 is Rs. 2,400. Subscription for 2016-17 received in 2015-16 was Rs.1,000

     

  • 2)

    Compute income from subscription for the year 2018 from the following particulars relating to a club

    Particulars 1.1.2018
    Rs.
    31.12.2018
    Rs.
    Outstanding subscription 10,000 7,000
    Subscription received in advance 3,000 5,000

    Subscription received during the year 2018: Rs.1,50,000

  • 3)

    How will the following items appear in the final accounts of a sports club?

    Particulars Rs.
    Stock of sports materials (01.04.2018) 3,000
    Sports materials purchased during current year 9,000
    Sale of old sport materials during current year 500
    Stock of sports materials (31.03.2019) 4,000
  • 4)

    What is receipts and payments account?

  • 5)

    Give four examples for capital receipts of not–for–profit organisation.

12th Accountancy - Accounts From Incomplete Records - Two Marks Study Materials - by 8682895000 View & Read

  • 1)

    From the following particulars ascertain profit or loss: 

      Rs.
    Capital at the beginning of the year (1st April, 2016) 2,00,000
    Capital at the end of the year (31st March, 2017) 3,50,000
    Additional capital introduced during the year 70,000
    Drawings during the year 40,000
  • 2)

    Following are the balances of Shanthi as on 31st December 2018.find out capital

    Particulars Rs Particulars Rs
    Bills receivable 6,000 Sundry creditors 25,000
    Bills payable 4,000 Stock 45,000
    Machinery 60,000 Debtors 70,000
    Furniture 10,000 Cash 4,000
  • 3)

    Find out credit sales from the following information:

      Rs.
    Debtors on 1st January 2018 40,000
    Cash received from debtors 1,00,000
    Discount allowed 5,000
    Sales returns 2,000
    Debtors on 31st December 2018 Debtors on 31st December 2018
  • 4)

    From the following details find out total sales made during the year.

      Rs
    Debtors on 1st April 2018 50,000
    Cash received from debtors during the year 1,50,000
    Returns inward 15,000
    Bad debts 5,000
    Debtors on 31st March 2019 70,000
    Cash Sales 1,40,000
  • 5)

    From the following particulars, prepare bills receivable account and compute the bills received from the debtors

    Particulars Rs
    Opening bills receivable 20,000
    Closing bills receivable 30,000
    Cash received for bills receivable 60,000
    Bills receivable dishonoured 5,000

12th Accountancy - Full Portion Five Marks Question Paper - by 8682895000 View & Read

  • 1)

    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
  • 2)

    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.

  • 3)

    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.

  • 4)

    Compute the amount of total purchases and total sales of Mr. Amit from the following information for the year ending on March 31, 2018.

      Rs.
    Total debtors as on April 01, 2017 40,000
    Total creditors as on April 01,2017 50,000
    Bills receivable as on April 01, 2017 30,000
    Bills payable as on April 01, 2017 45,000
    Discount received 5,000
    Bad debts 2,000
    Return inwards 4,000
    Discount allowed 3,000
    Cash sales 10,000
    Cash purchases 8,000
    Total debtors as on March 31, 2018 80,000
    Cash received from debtors 1,00,000
    Cash paid to creditors 80,000
    Cash received against bills receivable 25,000
    Payment made against bills receivable 40,000
    Total creditors as on March 31, 2018 40,000
    Bills payable as on March 31, 2018 50,000
    Bills receivable as on March 31,2018 35,000
  • 5)

    Following is the receipts and payments accounts of Literacy dub for the year ended 31st March 2016

    Receipts Rs. Rs. Payments Rs.
    To Balance c/d   19,550 By Salary 3,000
          By News papers 2,050
    To Subscribtions     By Electricity bill 1,000
    2014·2015 1,200   By Fixed deposit 20,000
    2015·2016 26,500   (on 1st July, 2015 @  
      500   9% per annum  
        28,200 By Books 10,600
          By Rent 6,800
    To slae old news paper   1,250 By Furniture 10,500
    To Government grants   10,000 By Balance dd 11,200
    To sale of old furniture   5,700    
    (book value Rs.7,000)        
    To interest on fixed deposits   450    
        65,150   65,150

    Additional information:
    (i) Subscription outstanding as on 31st March, 2015 were Rs. 2000 and on 31st March, 2016 Rs.2,500.
    (ii) On 31st March, 2016 Salary outstanding was Rs. 600 and rent outstanding was Rs.1,200.
    (iii) The dub owned furniture Rs. 15,000 and books Rs 7,000 on 1st April, 2015. Prepare income and expenditure account of the dub for the year ended 31st March 2016 and as certain capital fund on 31st March, 2015. Also prepare a balance sheet as on 31st March, 2016.

12th Accountancy - Full Portion Three Marks Question Paper - by 8682895000 View & Read

  • 1)

    From the following details, calculate the capital as on 31st December 2018:

      Rs
    Capital as on 1st January, 2018 27,500
    Goods taken for the personal use of the proprietor 5,000
    Profit for the year 10,000
  • 2)

    On 1st April 2017, Ganesh started his business with a capital of Rs.75,000. He did not maintain proper book of accounts. Following particulars are available from his books as on 31.03.2018

    Particulars Rs Particulars Rs
    Cash 5,000 Debtors 16,000
    Stock of goods 18,000 Creditors 9,000
    Bills receivable 7,000 Cash at bank 24,000
    Furniture 3,000 Bills payable 6,000
  • 3)

    How is the amount of credit sale ascertained from incomplete records?

  • 4)

    Following are the balances in the books of Thomas as on 31st March 2019.

    Particulars Rs. Particulars Rs.
    Sundry creditors 6,00,000 Bills payable 1,20,000
    Furniture 80,000 Cash in hand 20,000
    Land and building 3,00,000 Bills receivable 60,000
    Sundry Debtors 3,20,000 Stock 2,20,000

    Prepare a statement of affairs as on 31st March 2019 and calculate capital as at that date.

  • 5)

    From the following particulars of Trichy Educational Society, prepare Receipts and Payments
    account for the year ended 31st December, 2018

    Particulars Rs. Particulars Rs.
    Opening cash balance as on 1.1.2018 20,000 Locker rent received 12,000
    Investments made 80,000 Sale of furniture 5,000
    Honorarium paid 3,000 General expenses 7,000
    Donation received 80,000 Postage 1,000
    Audit fees paid 2,000 Subscription received 10,000

12th Accountancy - Full Portion Two Marks Question Paper - by 8682895000 View & Read

  • 1)

    Find out credit sales from the following information:

      Rs.
    Debtors on 1st January 2018 40,000
    Cash received from debtors 1,00,000
    Discount allowed 5,000
    Sales returns 2,000
    Debtors on 31st December 2018 Debtors on 31st December 2018
  • 2)

    From the following particulars, prepare bills receivable account and compute the bills received from the debtors

    Particulars Rs
    Opening bills receivable 20,000
    Closing bills receivable 30,000
    Cash received for bills receivable 60,000
    Bills receivable dishonoured 5,000
  • 3)

    What is a statement of affairs?

  • 4)

    How will the following appear in the final accounts of a club for the year 2017 –2018?

    Particulars Rs.
    Prize fund on 1.4.2017 60,000
    Prize fund investment on 1.4.2017 60,000
    Interest received on prize fund investment 6,000
    Prizes distributed 8,000
    Donation received for prize fund 12,000
  • 5)

    Write a short note on life membership fees.

12th Accountancy - Public Exam Model Question Paper 2019 - 2020 - by Kokila - Tirunelveli View & Read

  • 1)

    Which one of the following statements is not true in relation to incomplete records?

  • 2)

    In _____ system, only personal and cash accounts are opened.

  • 3)

    There are 500 members in a club each paying Rs.100 as annual subscription. Subscription due but not received for the current year is Rs.200; Subscription received in advance is Rs.300.Find out the amount of subscription to be shown in the income and expenditure account

  • 4)

    ______is a fee collection from every member only once at the time of his or her admission into the organisation.

  • 5)

    As per the Indian Partnership Act, 1932, the rate of interest allowed on loans advanced by partners is

12th Accountancy - Computerized Accounting System - Tally Practice Question Paper - by Kokila - Tirunelveli View & Read

  • 1)

    Contra voucher is used for

  • 2)

    Which is not the default group in Tally?

  • 3)

    Rs. 25,000 withdrawn from bank for office use. In which voucher type, this transaction will be recorded

  • 4)

    In 2009, Tally Solutions introduced the software

  • 5)

    In payment voucher, cash or bank account is credited and other ledger account is

12th Accountancy - Ratio Analysis Practice Question Paper - by Kokila - Tirunelveli View & Read

  • 1)

    The mathematical expression that provides a measure of the relationship between two figures is called

  • 2)

    Which one of the following is not correctly matched?

  • 3)

    _____ ratios show how efficiently assets or other items have been used to generate revenue from operations.

  • 4)

    Cost of goods sold is Rs.2,00,000. The opening stock in the beginning of the year is Rs.55,000, and the closing stock at the end of the year is Rs.25,000. Therefore the stock turn over ratio is ______________

  • 5)

    Debt Equity Ratio is 3:1, the amount of total assets Rs.20 lacks, current ratio is 1.5:1 and owned funds Rs.3 lacks. What is the amount of current asset?

12th Accountancy - Financial Statement Analysis Practice Question Paper - by Kokila - Tirunelveli View & Read

  • 1)

    The term ‘fund’ refers to

  • 2)

    which statements are involve personal judgment in certain cases?

  • 3)

    ______________ information is non monetary information is also important for business decisions.

  • 4)

    Comparison of financial statenients highlights the trend of the ____________ of the business.

  • 5)

    Assertion (A) : Cash flow analysis is concerned with preparation of cash flow statement which shows the inflow and outflow of cash and cash equivalents in a given period of time.
    Reason (R) : Funds flow analysis is useful in judging the credit worthiness, financial planning and preparation of budgets.
    (a) Both (A) and (R) are true and (R) is the correct explanation of (A)
    (b) Both (A) and (R) are true and (R) is not the correct explanation of (A)
    (c) (A) is true, but (R) is false
    (d) (A) is false, but (R) is true

12th Accountancy - Company Accounts Practice Question Paper - by Kokila - Tirunelveli View & Read

  • 1)

    When shares are issued for purchase of assets, the amount should be credited to

  • 2)

    The capital of companies is divided into small units called

  • 3)

    The capital of a company is divided into small units of

  • 4)

    Issue of equity shares to the public through prospectus by a public company is call

  • 5)

    _____ needed by the company could be raised by inviting the general public to buy shares and invest in the business.

12th Accountancy - Retirement and Death of a Partner Practice Question Paper - by Kokila - Tirunelveli View & Read

  • 1)

    If the final amount due to a retiring partner is not paid immediately, it is transferred to

  • 2)

    Profits and losses of previous years which are not distributed to the partners are known as

  • 3)

    O, P, and Q are partners sharing the profits in the ratio of 3:2: 1. If P retires the new profit ratio for O and Q will b

  • 4)

    An account operated to ascertain the loss or gain at the death of a partner is called:

  • 5)

    Hari, Roy and Prasad are partners in the ratio of 3:5:1 respectively. Roy wants to retire. His share is being purchased by Prasad. What would be the new ratio of Hari and Prasad respectively?

12th Accountancy - Admission of a Partner - by Kokila - Tirunelveli View & Read

  • 1)

    Which of the following statements is not true in relation to admission of a part

  • 2)

    When the value of an asset increases, it results in

  • 3)

    Old ratio of profit minus sacrifice ratio will be

  • 4)

    _______ is created out of profit to adjust the reduction in the market value of the investments.

  • 5)

    At the time of admission of a new partner, ________ profit ratio should be found out.

12th Accountancy - Goodwill In Partnership Accounts Practice Question Paper - by Kokila - Tirunelveli View & Read

  • 1)

    When the average profit is Rs.25,000 and the normal profit is Rs.15,000, super profit is

  • 2)

    The monetary value of such advantage is termed as

  • 3)

    The company earns a net profit of Rs. 24,000 with a capital of Rs. 1,20,000. The NRR is 10% under capitalisation of super profit goodwill will be

  • 4)

    Goodwill is not a ________ asset

  • 5)

    (a) Average profit method
    (b) Straight line method
    (c) Super profit
    (d) Capitalisation method

12th Accountancy - Accounts of Partnership Firms-Fundamentals Practice Question Paper - by Kokila - Tirunelveli View & Read

  • 1)

    As per the Indian Partnership Act, 1932, the rate of interest allowed on loans advanced by partners is

  • 2)

    The profit or loss arising from the partnership business is shared by the partners in the

  • 3)

    In a partnership business, agreement is

  • 4)

    Amount is drawn regularly at the middle of every month during the year. Interest calculated for

  • 5)

    ___________ is a document in writing that contains the terms of the agreement among the partners.

12th Accountancy - Accounts of Not-For-Profit Organisation Practice Question Paper - by Kokila - Tirunelveli View & Read

  • 1)

    Subscription due but not received for the current year is

  • 2)

    Which of the following is to be recorded in an income and expenditure account?

  • 3)

    Some organisations are established for the purpose of rending services to the public without

  • 4)

    Rent expenses of a non-profit organization paid in advance. Which of the following is the correct classification of rent

  • 5)

    Assertion (A) : Life membership fee is nonrecurring in nature.
    Reason (R) . Admission fee is a fee collected from every member only once at the time of his or her Admission into the organization.
    (a) Both (A) and (R) are true and (R) is the correct explanation of (A)
    (b) Both (A) and (R) are true and (R) is not the correct explanation of (A)
    (c) (A) is true but (R) is false.
    (d) (A) is false but (R) is true.

12th Accountancy - Accounts From Incomplete Records Practice Question Paper - by Kokila - Tirunelveli View & Read

  • 1)

    Statement of affairs is a

  • 2)

    Opening balance of debtors: Rs 30,000, cash received:Rs 1,00,000, credit sales: Rs90,000; closing balance of debtors is

  • 3)

    A firm has assets worth Rs.60,000 and capital Rs.45,000.Then it's liabilities is

  • 4)

    Capital at the end - net profit + drawings = 

  • 5)

    Assertion (A): Double Entry System It maintains only personal and cash accounts.
    Reason (R): Personal accounts are not maintained.
    (a) Both (A) and (R) are true and (R) is the correct explanation (A).
    (b) Both (A) and (R) are true and (R) is not the correct explanation of (A).
    (c) (A) is true, but (R) is false.
    (d) (A) is false, but (R) is true.

12th Accountancy - Admission of a Partner Model Question Paper - by Kokila - Tirunelveli View & Read

  • 1)

    On revaluation, the increase in the value of assets leads to

  • 2)

    Which of the following statements is not true in relation to admission of a part

  • 3)

    When an unrecorded liabilities is brought into books, is results in

  • 4)

    The revaluation profit or loss is transferred to the old partner's capital accounts, in their

  • 5)

    When A and B sharing profits and losses in the ratio of 3:2, they admit C as a partner giving him 1/3 share of profits. This will 'be given by A and B.

12th Accountancy - Goodwill In Partnership Accounts Model Question Paper - by Kokila - Tirunelveli View & Read

  • 1)

    Super profit is the difference between

  • 2)

    Book profit of 2017 is Rs.35,000; non-recurring income included in the profit is Rs.1,000 and abnormal loss charged in the year 2017 was Rs.2,000, then the adjusted profit is

  • 3)

    The total capitalised value of a business is Rs.1,00,000; assets are Rs.1,50,000 and liabilities are Rs.80,000. The value of goodwill as per the capitalisation method will be

  • 4)

    Goodwill is shown under fixed assets in the

  • 5)

    The monetary value of such advantage is termed as

12th Accountancy - Accounts of Partnership Firms-Fundamentals Model Question Paper - by Kokila - Tirunelveli View & Read

  • 1)

    When a partner withdraws regularly a fixed sum of money at the middle of every month, period for which interest is to be calculated on the drawings on an average is

  • 2)

    In the absence of an agreement, partners are entitled to

  • 3)

    The maximum number of partners in a partnership firm is

  • 4)

    The balance in the appropriation account is transferred to the partner's capital account in the

  • 5)

    All the transactions between the partner and the firm are recorded in the

12th Accountancy - Accounts of Not-For-Profit Organisation Important Questions - by Kokila - Tirunelveli View & Read

  • 1)

    Receipts and payments account is a

  • 2)

    Income and expenditure account is a

  • 3)

    Income and Expenditure Account is prepared to find out

  • 4)

    Donations received for a specific purpose is

  • 5)

    There are 500 members in a club each paying Rs.100 as annual subscription. Subscription due but not received for the current year is Rs.200; Subscription received in advance is Rs.300.Find out the amount of subscription to be shown in the income and expenditure account

12th Accountancy - Accounts From Incomplete Records Important Questions - by Kokila - Tirunelveli View & Read

  • 1)

    Incomplete records are generally maintained by

  • 2)

    What is the amount of capital of the proprietor, if his assets are Rs. 85,000 and liabilities are Rs. 21,000?

  • 3)

    When capital in the beginning is Rs 10,000, drawings during the year is Rs.6,000, profit made during the year is Rs2,000 and the additional capital introduced is 3,000, find out the amount of capital at the end

  • 4)

    The total assets of a proprietor are Rs.5,00,000. His liabilities Rs.3,50,000. Then his capital in the business is

  • 5)

    A firm has assets worth Rs.60,000 and capital Rs.45,000.Then it's liabilities is

12th Accountancy - Half Yearly Model Question Paper 2019 - by Kokila - Tirunelveli View & Read

  • 1)

    Which one of the following statements is not true in relation to incomplete records?

  • 2)

    In single entry system profit is calculated as follows:

  • 3)

    Receipts and payments account is a

  • 4)

    Income and expenditure account is a

  • 5)

    _______is prepared to find out the surplus or deficit pertaining to a particular year.

12th Accountancy - Term II Model Question Paper - by Koshi Nath - Kovilpatti View & Read

  • 1)

    Opening balance of debtors: Rs 30,000, cash received:Rs 1,00,000, credit sales: Rs90,000; closing balance of debtors is

  • 2)

    Receipts and payments account is a

  • 3)

    Income and Expenditure Account is prepared to find out

  • 4)

    Legacy is a

  • 5)

    In the absence of a partnership deed, profits of the firm will be shared by the partners in

12th Standard Accountancy - Computerized Accounting System-Tally Model Question Paper - by Koshi Nath - Kovilpatti View & Read

  • 1)

    Accounting report prepared according to the requirements of the user is

  • 2)

    Contra voucher is used for

  • 3)

    Salary account comes under which of the following head?

  • 4)

    In which voucher type credit purchase of furniture is recorded in Tally

  • 5)

    In 2009, Tally Solutions introduced the software

12th Accountancy - Ratio Analysis Model Question Paper - by Koshi Nath - Kovilpatti View & Read

  • 1)

    The mathematical expression that provides a measure of the relationship between two figures is called

  • 2)

    Proportion of share holder's funds to total assets is called

  • 3)

    Current liabilities Rs. 40,000; Current assets Rs. 1,00,000 ; Inventory Rs. 20,000. Quick ratio is

  • 4)

    If both items in a ratio are from balance sheet, it is classified as

  • 5)

    Which ratio is the proportion of fixed income bearing funds to equity shareholders funds?

12th Standard Accountancy - Financial Statement Analysis Model Question Paper - by Koshi Nath - Kovilpatti View & Read

  • 1)

    Which of the following tools of financial statement analysis is suitable when data relating to several years are to be analysed?

  • 2)

    Which of the following is not a tool of financial statement analysis?

  • 3)

    The term ‘fund’ refers to

  • 4)

    In a common-size balance sheet, if the percentage of non-current assets is 75, what would be the percentage of current assets?

  • 5)

    Which statement are prepared by the business concerns at the end of the accounting period to ascertain the operating results and the financial position?

12th Accountancy - Company Accounts Model Question Paper - by Koshi Nath - Kovilpatti View & Read

  • 1)

    The amount received over and above the par value is credited to

  • 2)

    When shares are issued for purchase of assets, the amount should be credited to

  • 3)

    If a share of Rs.10 on which Rs.8 has been paid up is forfeited. Minimum reissue price is

  • 4)

    Supreme Ltd. forfeited 100 shares of Rs.10 each for non-payment of final call of Rs.2 per share. All these shares were re-issued at Rs.9 per share. What amount will be transferred to capital reserve account?

  • 5)

    The capital of companies is divided into small units called

12th Accountancy - Retirement and Death of a Partner Model Question Paper - by Koshi Nath - Kovilpatti View & Read

  • 1)

    A partner retires from the partnership firm on 30th June. He is liable for all the acts of the firm up to the

  • 2)

    On retirement of a partner, general reserve is transferred to the

  • 3)

    ‘ A’ was a partner in a partnership firm. He died on 31st March 2019. The final amount due to him is Rs. 25,000 which is not paid immediately. It will be transferred to

  • 4)

    A, B and C are partners sharing profits in the ratio of 2:2:1. On retirement of B, goodwill of the firm was valued as Rs. 30,000. Find the contribution of A and C to compensate B:

  • 5)

    X, Y and Z were partners sharing profits and losses equally. X died on 1st April 2019. Find out the share of X in the profit of 2019 based on the profit of 2018 which showed Rs. 36,000.

12th Standard Accountancy - Admission of a Partner Model Question Paper - by Koshi Nath - Kovilpatti View & Read

  • 1)

    Revaluation A/c is a

  • 2)

    On revaluation, the increase in the value of assets leads to

  • 3)

    At the time of admission, the goodwill brought by the new partner may be credited to the capital accounts of

  • 4)

    James and Kamal are sharing profits and losses in the ratio of 5:3. They admit Sunil as a partner giving him 1/5 share of profits. Find out the sacrificing ratio.

  • 5)

    Balaji and Kamalesh are partners sharing profits and losses in the ratio of 2:1. They admit Yogesh into partnership. The new profit sharing ratio between Balaji, Kamalesh and Yogesh is agreed to 3:1:1. Find the sacrificing ratio between Balaji and Kamalesh.

12th Standard Accountancy - Goodwill In Partnership Accounts Model Question Paper - by Koshi Nath - Kovilpatti View & Read

  • 1)

    Which of the following statements is true?

  • 2)

    Super profit is the difference between

  • 3)

    When the average profit is Rs.25,000 and the normal profit is Rs.15,000, super profit is

  • 4)

    The total capitalised value of a business is Rs.1,00,000; assets are Rs.1,50,000 and liabilities are Rs.80,000. The value of goodwill as per the capitalisation method will be

  • 5)

    Goodwill helps in earning more profit and attracts more

12th Standard Accountancy - Accounts of Partnership Firms-Fundamentals Model Question Paper - by Koshi Nath - Kovilpatti View & Read

  • 1)

    In the absence of a partnership deed, profits of the firm will be shared by the partners in

  • 2)

    When a partner withdraws regularly a fixed sum of money at the middle of every month, period for which interest is to be calculated on the drawings on an average is

  • 3)

    In the absence of an agreement, partners are entitled to

  • 4)

    Profit after interest on drawings, interest on capital and remuneration is Rs.10,500. Geetha, a partner, is entitled to receive commission @ 5% on profits after charging such commission. Find out commission.

  • 5)

    In India, partnership firms are governed by the Indian partnership Act.

12th Standard Accountancy - Accounts of Not-For-Profit Organisation Three Marks Questions - by Kokila - Tirunelveli View & Read

  • 1)

    From the following particulars of Tamil Educational Society, prepare Receipts and Payments account for the year ended 31st March, 2019.

    Particulars Rs. Particulars Rs.
    Opening cash balance as on 1.4.2018 18,000 Building purchased 2,10,000
    Rent paid 6,000 Staff salary 55,000
    Scholarship given 15,200 Subscription received 2,65,000
    Entrance fees received 18,500    
  • 2)

    How will the following items appear in the final accounts of a club for the year ending 31st March 2017? A club received subscription of Rs. 25,000 during the year 2016-17. This includes subscription of Rs. 2,000 for 2015-16 and Rs. 1,500 for the year 2017-18. Subscription of Rs.500 is still outstanding for the year 2016-17.

  • 3)

    What is income and expenditure account?

  • 4)

    State the differences between Receipts and Payments Account and Income and Expenditure Account

  • 5)

    How annual subscription is dealt with in the final accounts of not–for–profit organisation?

12th Standard Accountancy - Accounts of Partnership Firms-Fundamentals Three Marks Questions - by Kokila - Tirunelveli View & Read

  • 1)

    Arul is a partner in a partnership firm. As per the partnership deed, interest on drawings is charged at 12% p.a. During the year ended 31st December 2018 he drew as follows:

    Date Rs.
    March 1 3,000
    June 1 3,000
    September 1 3,000
    December 1 3,000

    Calculate the amount of interest on drawings. 

  • 2)

    Syed, Samuel and Sudhakar are partners in a firm sharing profits and losses equally. As per the terms of the partnership deed, Samuel is allowed a monthly salary of Rs.2,000 and Sudhakar is allowed a commission of Rs.6,000 per annum for their contribution to the business of the firm. You are required to pass the necessary journal entry. Assume that their capitals are fluctuating.

  • 3)

    Arulappan and Nallasamy are partners in a firm sharing profits and losses in the ratio of 4:1. On 1st January 2018, their capitals were Rs.20,000 and Rs.10,000 respectively. The partnership deed specifies the following:
    (a) Interest on capital is to be allowed at 5% per annum.
    (b) Interest on drawings charged to Arulappan and Nallasamy are Rs.200 and Rs.300 respectively.
    (c) The net profit of the firm before considering interest on capital and interest on drawings
    amounted to Rs.18,000.
    Give necessary journal entries and prepare Profit and loss appropriation account for the year ending 31st December 2018. Assume that the capitals are fluctuating.

  • 4)

    The capital account of Begum and Fatima on 1st January, 2018 showed a balance of Rs.50,000 and Rs.40,000 respectively. On 1st October, 2018, Begum introduced an additional capital of Rs.10,000 and on 1st May, 2018 Fatima introduced an additional capital of Rs.9,000. Calculate interest on capital at 4% p.a. for the year ending 31st December, 2018.

  • 5)

    Anand and Narayanan are partners in a firm sharing profits and losses in the ratio of 5:3. On 1st January 2018, their capitals were Rs.50,000 and Rs.30,000 respectively. The partnership deed specifies the following:
    (a) Interest on capital is to be allowed at 6% per annum.
    (b) Interest on drawings charged to Anand and Narayanan are Rs.1,000 and Rs.800 respectively.
    (c) The net profit of the firm before considering interest on capital and interest on drawings amounted to  Rs.35,000.
    Give necessary journal entries and prepare profit and loss appropriation account as on 31st December 2018. Assume that the capitals are fluctuating.

12th Standard Accountancy - Goodwill In Partnership Accounts Three Marks Questions - by Kokila - Tirunelveli View & Read

  • 1)

    From the following information relating to Arul enterprises, calculate the value of goodwill on the basis of 2 years purchase of the average profits of 3 years.
    (a) Profits for the years ending 31st December 2016, 2017 and 2018 were Rs.46,000, Rs.44,000 and Rs.50,000 respectively.
    (b) A non-recurring income of Rs.5,000 is included in the profits of the year 2016.
    (c) The closing stock of the year 2017 was overvalued by Rs.10,000.

  • 2)

    The following particulars are available in respect of a business carried on by a partnership firm:
    (a) Profits earned: 2016: Rs.30,000; 2017: Rs.29,000 and 2018: Rs.32,000.
    (b) Profit of 2016 includes a non-recurring income of Rs.3,000.
    (c) Profit of 2017 is reduced by Rs.2,000 due to stock destroyed by fire.
    (d) The stock is not insured. But, it is decided to insure the stock in future. The insurance premium is estimated at Rs.5,600 per annum.
    You are required to calculate the value of goodwill on the basis of 2 years purchase of average profits of the last three years.

  • 3)

    From the following information relating to a partnership firm, find out the value of its goodwill based on 3 years purchase of average profits of the last 4 years:
    (a) Profits of the years 2015, 2016, 2017 and 2018 are Rs.10,000, Rs.12,500, Rs.12,000 and Rs.11,500 respectively.
    (b) The business was looked after by a partner and his fair remuneration amounts to Rs.1,500 per year. This amount was not considered in the calculation of the above profits.

  • 4)

    How is the value of goodwill calculated under the capitalisation method?

  • 5)

    What is the nature of goodwill?

12th Standard Accountancy - Retirement and Death of a Partner Three Marks Questions - by Kokila - Tirunelveli View & Read

  • 1)

    Prince, Dev and Sasireka are partners in a firm sharing profits and losses in the ratio of 2:4:1. Their balance sheet as on 31st March, 2019 is as follows:
     

    Liabilities Rs. Rs. Assets Rs.
    Capital accounts     Buildings 40,000
    Prince 30,000   Plant 50,000
    Dev 50,000   Furniture 10,000
    Sasireka 20,000 1,00,000 Stock 15,000
    Profit and loss appropriation A/c   10,000 Debtors 20,000
    General reserve   15,000 Cash at bank 15,000
    Workmen compensation fund   17,000    
    Sundry creditors   8,000    
        1,50,000   1,50,000
  • 2)

    Ramya, Sara and Thara are partners sharing profits and losses in the ratio of 5:3:2.
    On 1st April 2018, Thara retires and on retirement, the following adjustments are agreed upon:
    (i) Increase the value of premises by Rs. 40,000.
    (ii) Depreciate stock by Rs. 3,000 and machinery by Rs. 6,500.
    (iii) Provide an outstanding liability of Rs. 500
    Pass journal entries and prepare revaluation account.

  • 3)

    Justina, Navi and Rithika are partners sharing profits and losses equally. On 31.3.2019, Rithika retired from the partnership firm. Profits of the preceding years is as follows:
    2016: Rs. 5,000; 2017: Rs. 10,000 and 2018: Rs. 30,000
    Find out the share of profit of Ritika for the year 2019 till the date of retirement if
    (a) Profit is to be distributed on the basis of the previous year’s profit
    (b) Profit is to be distributed on the basis of the average profit of the past 3 years
    Also pass necessary journal entries by assuming that partners’ capitals are fluctuating. Accountancy

  • 4)

    Rathna, Baskar and Ibrahim are partners sharing profits and losses in the ratio of 2:3:4 respectively. Rathna died on 31st December, 2018. Final amount due to her showed a credit
    balance of Rs. 1,00,000. Pass journal entries if,
    (a) The amount due is paid off immediately by cheque.
    (b) The amount due is not paid immediately.
    (c) Rs. 60,000 is paid immediately by cheque.

  • 5)

    List out the adjustments made at the time of retirement of a partner in a partnership firm.

12th Accountancy - Company Accounts Three Marks Questions - by Kokila - Tirunelveli View & Read

  • 1)

    Muthu was holding 20 equity shares of Rs.10 each on which he paid Rs.2 on application but could not pay Rs.3 on allotment and Rs.1 on first call. Directors forfeited the shares after the first call. Give journal entry for recording the forfeiture of shares.

  • 2)

    Anu Company forfeited 200 equity shares of Rs.10 each issued at par held by Thiyagu for nonpayment of the final call of  Rs.3 per share. The shares were reissued to Laxman at Rs.6 per share. Show the journal entries for forfeiture and reissue.

  • 3)

    Gemini Ltd. forfeited 20 equity shares of Rs.10 each, Rs.7 called up, on which Mahesh had paid application and allotment money of Rs.5 per share. Of these 15 shares were reissued to Naresh by receiving Rs.6 per share paid up as rs.7 per share. Pass journal entries for forfeiture and reissue.

  • 4)

    State the differences between preference shares and equity shares.

  • 5)

    Write a brief note on calls in advance.

12th Accountancy Chapter 9 Ratio Analysis Three Marks Questions - by Kokila - Tirunelveli View & Read

  • 1)

    Explain the traditional classifications of ratio analysis.

  • 2)

    What is functional classifications of rational analysis? and types of functional classification.

  • 3)

    Write a note an Long-term solvency ratios.

  • 4)

    Write a short note on
    (i) Proprietary ratio
    (ii) Capital gearing ratio

  • 5)

    What do you mean by debt collection period?

12th Accountancy Chapter 8 Financial Statement Analysis 3 Marks Questions - by Kokila - Tirunelveli View & Read

  • 1)

    From the following particulars of Kumar Ltd, prepare a common-size income statement for
    the year ended 31st March, 2018.

    Particulars 2017-18
      RS.
    Revenue from operations 5,00,000
    Other income 20,000
    Expenses 3,00,000
  • 2)

    From the following particulars of Mani Ltd an Kani Ltd prepare a common-size income
    statement for the year ended 31st March, 2019

    Particulars Mani Ltd Kani Ltd
      Rs. Rs.
    Revenue from operations 2,00,000 2,50,000
    Other income 30,000 25,000
    Expenses 1,10,000 1,25,000
  • 3)

    From the following particulars of Siva Ltd, prepare common size income statement for the
    years ended 31st March, 2016 and 31st March, 2017.

    Particulars 2015-16 2016-17
      Rs. Rs.
    Revenue from operations 2,00,000 3,00,000
    Other income 25,000 75,000
    Expenses 2,50,000 1,50,000
    Income tax % 40 40
  • 4)

    Prepare common-size balance sheet of Maria Ltd. as on 31st March, 2018.

    Particulars 31st March 2018
      Rs.
    I EQUITY AND LIABILITIES  
    Shareholders’ funds 4,00,000
    Non-current liabilities 3,20,000
    Current liabilities 80,000
    Total 8,00,000
    II ASSETS  
    Non-current assets 6,00,000
    Current assets 2,00,000
    Total 8,00,000
  • 5)

    Prepare common-size balance sheet of Sharmila Ltd. and Sangeetha Ltd. as on 31st March,
    2019.

    Particulars Sharmila Ltd Sangeetha Ltd
      Rs. Rs.
    I EQUITY AND LIABILITIES    
    Shareholders’ funds 5,00,000 11,00,000
    Non-current liabilities 4,00,00 7,00,000
    Current liabilities 1,00,000 2,00,000
    Total 10,00,000 20,00,000
    II ASSETS    
    Non-current assets 6,50,000 18,00,000
    Current assets 3,50,000 2,00,000
    Total 10,00,000 20,00,000

12th Accountancy Unit 5 Admission of a Partner Three Marks Questions - by Kokila - Tirunelveli View & Read

  • 1)

    Amudha and Bhuvana are partners who share profits and losses in the ratio of 5:3. Chithra joins the firm on 1st January, 2019 for 3/8 share of profits and brings in cash for her share of goodwill of Rs.8,000. Pass necessary journal entry for adjusting goodwill on the assumption that the fluctuating capital method is followed and the partners withdraw the entire amount of their share of goodwill.

  • 2)

    Arun, Babu and Charles are partners sharing profits and losses equally. They admit Durai into partnership for 1/4 share in future profits. The goodwill of the firm is valued at Rs.36,000 and Durai brought cash for his share of goodwill. The existing partners withdraw half of the amount of their share of goodwill. Pass necessary journal entries on the assumption that the fluctuating capital method is followed.

  • 3)

    Vasu and Devi are partners sharing profits and losses in the ratio of 3:2. They admit Nila into partnership for 1/4 share of profit. Nila pays cash Rs. 3,000 towards her share of goodwill. The new ratio is 3:3:2. Pass necessary journal entry on the assumption that the fixed capital system is followed.

  • 4)

    Sathish and Sudhan are partners in a firm sharing profits and losses in the ratio of 4:3. On 1st April 2018, they admitted Sasi as a partner. On the date of Sasi’s admission, goodwill appeared in the books of the firm at Rs.35,000. By assuming fluctuating capital account, pass the necessary journal entry if the partners decide to
    (i) write off the entire amount of existing goodwill
    (ii) write off Rs.21,000 of the existing goodwill

  • 5)

    What are the journal entries to be passed on revaluation of assets and liabilities?

12th Accountancy Unit 1 Accounts From Incomplete Records Three Marks Questions - by Kokila - Tirunelveli View & Read

  • 1)

    From the following particulars ascertain profit or loss:

      Rs.
    Capital as on 1st April 2018 1,60,000
    Capital as on 31st March, 2019 1,50,000
    Additional capital introduced during the year 25,000
    Drawings made during the year 30,000
  • 2)

    From the following details, calculate the missing figure:

      Rs
    Capital as on 1st April, 2017 2,50,000
    Capital as on 31st March, 2018 2,75,000
    Additional capital introduced during the year 30,000
    Profit for the year 15,000
    Drawings during the year ?
  • 3)

    David does not keep proper books of accounts. Following details are given from his records

    Particulars 1.4.2018
    Rs
    31.3.2019
    Rs
    Cash 43,000 29,000
    Stock of goods 1,20,000 1,30,000
    Sundry debtors 84,000 1,10,000
    Sundry creditors 1,05,000 1,02,000
    Loan 25,000 20,000
    Business premises 2,50,000 2,50,000
    Furniture 33,000 45,000

    During the year he introduced further capital of Rs. 45,000 and withdrew Rs. 2,500 per month from the business for his personal use. Prepare statement of profit or loss with the above information.

  • 4)

    State the differences between double entry system and incomplete records.

  • 5)

    State the procedure for calculating profit or loss through statement of affairs.

12th Accountancy - Accounts of Not-For-Profit Organisation Model Question Paper - by Koshi Nath - Kovilpatti View & Read

  • 1)

    Receipts and payments account is a

  • 2)

    Subscription due but not received for the current year is

  • 3)

    Legacy is a

  • 4)

    Subscription received but not yet earned is considered as a /an

  • 5)

    Income and Expenditure accounts show

12th Accountancy - Accounts From Incomplete Records Model Question Paper - by Koshi Nath - Kovilpatti View & Read

  • 1)

    Incomplete records are generally maintained by

  • 2)

    The amount of credit sales can be computed from

  • 3)

    Opening balance of debtors: Rs 30,000, cash received:Rs 1,00,000, credit sales: Rs90,000; closing balance of debtors is

  • 4)

    A firm has assets worth Rs.60,000 and capital Rs.45,000.Then it's liabilities is

  • 5)

    The capital of a business is ascertained by preparing

12th Standard Accountancy - Computerized Accounting System-Tally Two Marks Questions - by Kokila - Tirunelveli View & Read

  • 1)

    What is automated accounting system?

  • 2)

    What are accounting reports?

  • 3)

    State any five accounting reports.

  • 4)

    What is Accounting Information System (AIS)?

  • 5)

    What is a group in Tally.ERP 9?

12th Standard Accountancy - Ratio Analysis Two Marks Questions - by Kokila - Tirunelveli View & Read

  • 1)

    What is quick ratio?

  • 2)

    What is meant by debt equity ratio?

  • 3)

    Following is the balance sheet of Magesh Ltd. as on 31st March, 2019:

    Particulars Rs.
    I EQUITY AND LIABILITIES  
    1. Shareholders’ funds  
      Equity share capital 2,00,000
    2. Non-current liabilities  
      Long term borrowings 50,000
    3. Current liabilities  
      (a) Short-term borrowings 17,000
      (b) Trade payables 25,000
      (c) Other current liabilities  
         Expenses payable 3,000
      (d) Short-term provisions 5,000
    Total 3,00,000
    II ASSETS Rs.
    1. Non-current assets  
    Fixed assets  
      (a) Tangible assets 1,50,000
      (b) Trade receivables 70,000
      (c) Cash and cash equivalents 30,000
      (d) Other current assets  
         Prepaid expenses 5,000
    Total 3,00,000

    Calculate:
    (i) Current ratio
    (ii) Quick ratio

  • 4)

    From the following information calculate capital gearing ratio:

    Balance Sheet (Extract) as on 31.03.2018
    Particulars Rs.
    I EQUITY AND LIABILITIES  
    1. Shareholders' funds  
      (a) Share capital  
        Equity share capital 2,00,000
        6% Preference share capital 1,00,000
      (b) Reserves and surplus  
        General reserve 1,25,000
        Surplus 75,000
    2. Non-current liabilities  
        Long-term borrowings (8% Debentures) 2,00,000
    3. Current liabilities  
        Trade payables 1,50,000
        Provision for tax 50,000
    Total 9,00,000
  • 5)

    Definition of ratio analysis.

12th Accountancy Chapter 8 Financial Statement Analysis Two Marks Questions - by Kokila - Tirunelveli View & Read

  • 1)

    From the following particulars, prepare comparative income statement of Abdul Co. Ltd.

    Particulars 2015-16
    Rs.
    2016-17
    Rs.
    Revenue from operations 3,00,000 3,60,000
    Other income 1,00,000 60,000
    Expenses 2,00,000 1,80,000
    Income tax 30% 30%
  • 2)

    From the following particulars, prepare comparative income statement of Mary Co. Ltd.

    Particulars 2015-16
    Rs.
    2016-17
    Rs.
    Revenue from operations 4,00,000 5,00,000
    Operating expenses 2,00,000 1,80,000
    Income tax (% of the profit before tax) 20 50
  • 3)

    List the tools of financial statement analysis.

  • 4)

    What is working capital?

  • 5)

    When is trend analysis preferred to other tools?

12th Accountancy - Term 1 Model Question Paper - by Koshi Nath - Kovilpatti View & Read

  • 1)

    What is the amount of capital of the proprietor, if his assets are Rs. 85,000 and liabilities are Rs. 21,000?

  • 2)

    _____ is suitable only for sole traders and partnership firms.

  • 3)

    Statement of assets & liabilities prepared under double entry system is called:

  • 4)

    Legacy is a

  • 5)

    Which of the following is shown in Profit and loss appropriation account?

12th Standard Accountancy Unit 7 Company Accounts Two Marks Question - by Kokila - Tirunelveli View & Read

  • 1)

    Thai Ltd. issued 1,00,000 equity shares of Rs.10 each, payable Rs.5 on application, Rs.2 on allotment Rs.2 on first call and Rs.1 on final call. All the shares are subscribed and amount was duly received. Pass journal entries.

  • 2)

    Joy Company issued 10,000 equity shares at Rs.10 per share payable Rs.5 on application, Rs.3 on allotment and Rs.2 on first and final call. The public subscribed for 9,000 shares. The directors allotted all the 9,000 shares and duly received the money. Pass the necessary journal entries.

  • 3)

    Bharath Ltd. issued 1,00,000 equity shares of  Rs. 10 each to the public at par. The details of the
    amount payable on the shares are as follows:

    On application Rs.5 per share
    On allotment Rs.3 per share
    On first and final call Rs.2 per share

    Application money was received for 1,20,000 shares. Excess application money was refunded immediately. Pass journal entries to record the above.

  • 4)

    Sudha Ltd. offered 1,00,000 shares of Rs.10 each to the public payable Rs.3 on application, Rs.4 on share allotment and the balance when required. Applications for 1,40,000 shares were received on which the directors allotted as:
    Applicants for 60,000 shares - Full
    Applicants for 75,000 shares - 40,000 shares (excess money will be utilised for allotment)
    Applicants for 5,000 shares - Nil
    All the money due was received. Pass journal entries upto the receipt of allotment.

  • 5)

    Jeyam Tyres issued 15,000 ordinary shares of  Rs.10 each payable as follows:
    Rs.3 on application; Rs.5 on allotment; Rs.2 on first and final call. All money were duly received except one shareholder holding 100 shares failed to pay the call money. Pass the necessary journal entries for call (using calls in arrear account).

12th Accountancy - Retirement and Death of a Partner Two Marks Question - by Kokila - Tirunelveli View & Read

  • 1)

    Vivin, Hari and Joy are partners sharing profits and losses in the ratio of 3:2:1. On 31.3.2017, Hari retired. On the date of retirement, the books of the firm showed a general reserve of Rs. 60,000. Pass the journal entry to transfer the general reserve.

  • 2)

    Mary, Meena and Mariam are partners of a firm sharing profits and losses equally. Mary retired from the partnership on 1.1.2019. On that date, their balance sheet showed accumulated loss of Rs. 75,000 on the asset side of the balance sheet. Give the journal entry to distribute the accumulated loss.

  • 3)

    Arya, Benin and Charles are partners sharing profits and losses in the ratio of 3:3:2. Charles
    retires and his share is taken up by Arya. Calculate the new profit sharing ratio and gaining
    ratio of Arya and Benin

  • 4)

    Rahul, Ravi and Rohit are partners sharing profits and losses in the ratio of 5:3:2. Rohit retires
    and the share is taken by Rahul and Ravi in the ratio of 3:2. Find out the new profit sharing ratio and gaining ratio.

  • 5)

    Suresh, Senthamarai and Raj were partners in a firm sharing profits and losses in the ratio of 3:2:1. Suresh retired from partnership. The goodwill of the firm on the date of retirement was valued at Rs. 36,000. Pass necessary journal entries for goodwill on the assumption that the fluctuating capital system is followed.

12th Accountancy - Admission of a Partner Two Marks Question - by Kokila - Tirunelveli View & Read

  • 1)

    Mala and Vimala were partners sharing profits and losses in the ratio of 3:2. On 31.3.2017, Varshini was admitted as a partner. On the date of admission, the book of the firm showed a reserve fund of Rs.50,000. Pass the journal entry to distribute the reserve fund.

  • 2)

    Ravi and Kumar share profits and losses in the ratio of 7:3. Christy is admitted as a new partner with 3/7 share which he acquires 2/7 from Ravi and 1/7 from Kumar. Calculate the new profit sharing ratio and sacrificing ratio.

  • 3)

    Suresh and Dinesh are partners sharing profits in the ratio of 3:2. They admit Ramesh as a new partner. Suresh surrenders 1/5 of his share in favour of Ramesh. Dinesh surrenders 2/5 of his share in favour of Ramesh. Calculate the new profit sharing ratio and sacrificing ratio.

  • 4)

    Prasanth and Nisha are partners sharing profits and losses in the ratio of 3:2. They admit Ramya as a new partner. Prasanth surrenders 2/5 of his share and Nisha surrenders 2/5 of her share in favour of Ramya. Calculate the new profit sharing ratio and sacrificing ratio.

  • 5)

    Mahesh and Dhanush are partners sharing profits and losses in the ratio of 2:1. Arun is admitted for 1/4 share which he acquired equally from both Mahesh and Dhanush. Calculate the new profit sharing ratio and sacrificing ratio.

12th Accountancy Chapter 4 Goodwill In Partnership Accounts Two Marks Question - by Kokila - Tirunelveli View & Read

  • 1)

    From the following information, find out the value of goodwill by capitalisation method:
    (a) Average profit = Rs.60,000
    (b) Normal rate of return = 10%
    (c) Capital employed = Rs.4,50,000

  • 2)

    From the following information, calculate the value of goodwill on the basis of 3 years purchase of average profits of last four years.

    Year Result Amount
    Rs.
    2015 Profit 5,000
    2016 Profit 8,000
    2017 Loss 3,000
    2018 Profit 6,000
  • 3)

    What is goodwill?

  • 4)

    What is super profit?

  • 5)

    What is normal rate of return?

12th Accountancy Unit 1 Accounts of Partnership Firms-Fundamentals Two Marks Questions - by Kokila - Tirunelveli View & Read

  • 1)

    Mannan and Ramesh share profits and losses in the ratio of 3:1. The capital on 1st April 2017 was Rs.80,000 for Mannan and Rs.60,000 for Ramesh and their current accounts show a credit balance of Rs.10,000 and Rs.5,000 respectively. Calculate interest on capital at 5% p.a. for the year ending 31st March 2018 and show the journal entries.

  • 2)

    Antony and Akbar were partners who share profits and losses in the ratio of 3:2. Balance in their capital account on 1st January 2018 was Antony Rs.60,000 and Akbar Rs.40,000. On 1st April 2018 Antony introduced additional capital of Rs.10,000. Akbar introduced additional capital of Rs.5,000 during the year. Calculate interest on capital at 6% p.a. for the year ending 31st December 2018.

  • 3)

    Rajan is a partner who withdrew Rs.30,000 during the year 2018. Interest on drawings is charged at 10% per annum. Calculate interest on drawings on 31st December, 2018.

  • 4)

    Priya and Kavitha are partners. Priya draws Rs.4,000 at the end of each quarter. Interest on drawings is chargeable at 6% p.a. Calculate interest on drawings for the year ending 31st December 2018 using average period.

  • 5)

    Define partnership.

12th Accountancy - Accounts of Not-For-Profit Organisation Two Marks Questions - by Kokila - Tirunelveli View & Read

  • 1)

    From the following details calculate the amount that will be shown as subscription in Income
    and Expenditure Account for the year ending 31st March, 2017.

    Subscription received for Rs.
    2015-16 7,500
    2016-17 60,000
    2017-18 1,500
      69,000

    Subscription outstanding for the year 2016-17 is Rs. 2,400. Subscription for 2016-17 received in 2015-16 was Rs.1,000

     

  • 2)

    Compute income from subscription for the year 2018 from the following particulars relating to a club

    Particulars 1.1.2018
    Rs.
    31.12.2018
    Rs.
    Outstanding subscription 10,000 7,000
    Subscription received in advance 3,000 5,000

    Subscription received during the year 2018: Rs.1,50,000

  • 3)

    How will the following appear in the final accounts of a club for the year 2017 –2018?

    Particulars Rs.
    Prize fund on 1.4.2017 60,000
    Prize fund investment on 1.4.2017 60,000
    Interest received on prize fund investment 6,000
    Prizes distributed 8,000
    Donation received for prize fund 12,000
  • 4)

    State the meaning of not–for–profit organisation

  • 5)

    What is receipts and payments account?

12th Accountancy - Accounts From Incomplete Records Two Marks Questions - by Kokila - Tirunelveli View & Read

  • 1)

    From the following details find out total sales made during the year.

      Rs
    Debtors on 1st April 2018 50,000
    Cash received from debtors during the year 1,50,000
    Returns inward 15,000
    Bad debts 5,000
    Debtors on 31st March 2019 70,000
    Cash Sales 1,40,000
  • 2)

    What is meant by incomplete records?

  • 3)

    State the accounts generally maintained by small sized sole trader when double entry accounting system is not followed.

  • 4)

    From the following particulars ascertain profit or loss

    Particulars Rs.
    Capital as on 1st January 2018 2,20,000
    Capital as on 31st December 2018 1,80,000
    Additional capital introduced during the year 40,000
    Drawings made during the year 50,000
  • 5)

    Find out credit sales from the following information:

    Particulars Rs.
    Debtors on 1st April, 2018 1,00,000
    Cash received from debtors 2,30,000
    Discount allowed 5,000
    Returns inward 25,000
    Debtors on 31st March 2019 1,20,000

12th Accountancy - Term 1 Five Mark Model Question Paper - by Kokila - Tirunelveli View & Read

  • 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)

    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%.

  • 3)

    From the following particulars of Chennai Sports Club, prepare Receipts and Payments
    account for the year ended 31st March, 2018.

    Particulars Rs. Particulars Rs. Rs.
    Opening cash balance as on 1.4.2017 10,000 Subscriptions received    
    Opening bank balance as on 1.4.2017 15,000 2016 – 2017 4,500  
    Interest paid 5,000 2017 – 2018 65,000  
    Depreciation 7,000 2018 – 2019 5,000 74,500
    Upkeep of grounds 22,500 Tournament expenses   12,500
    Life membership fees received 5,500 Tournament fund receipts   15,000
    Bats and balls purchased 13,000 Closing balance of cash
    (31.3.2018)
      5,000
  • 4)

    From the following Receipts and Payment account and from the information given below of Ramanathapuram Sports Club, prepare Income and Expenditure account for the year ended 31st December, 2018 and the balance sheet as on that dat

    Receipts Rs. Rs. Payments Rs. Rs.
    To Balance b/d     By Rent   11,000
    Cash in hand 5,000   By Entertainment    
    Cash at bank 10,000 15,000 expenses   11,200
    To Subscription     By Furniture   10,000
    2017 12,000   By Sports materials    
    2018 33,000   purchased   13,000
    2019 16,000 61,000 By Match expenses   12,000
    To Entrance fees   6,000 By Investments made   28,000
    To General donations   7,000 By Balance c/d    
    To Sale of old sports     Cash in hand 1,300  
    materials   1,000 Cash at bank 4,000 5,300
    To Miscellaneous          
    receipts   500      
        90,500     90,500

    Additional information:
    (i) Capital fund as on 1st January 2018 Rs30,000.
    (ii) Opening stock of sports materialRs. 3,000 and closing stock of sports material Rs 5,000.

  • 5)

    Durai and Velan entered into a partnership agreement on 1st April 2018, Durai contributing Rs.25,000 and Velan Rs. 30,000 as capital. The agreement provided that:
    (a) Profits and losses to be shared in the ratio 2:3 as between Durai and Velan.
    (b) Partners to be entitled to interest on capital @ 5% p.a.
    (c) Interest on drawings to be charged Durai: Rs.300 Velan: Rs.450
    (d) Durai to receive a salary of Rs.5,000 for the year, and
    (e) Velan to receive a commission of Rs.2,000
    During the year, the firm made a profit of Rs.20,000 before adjustment of interest, salary and commission. Prepare the Profit and loss appropriation account.

12th Accountancy Quarterly Model Question Paper - by Kokila - Tirunelveli View & Read

  • 1)

    Incomplete records are generally maintained by

  • 2)

    The amount of credit sales can be computed from

  • 3)

    When capital in the beginning is Rs 10,000, drawings during the year is Rs.6,000, profit made during the year is Rs2,000 and the additional capital introduced is 3,000, find out the amount of capital at the end

  • 4)

    Under the net worth method, the basis for ascertaining the profit is

  • 5)

    In single entry system of accounting 

TN 12th Standard Accountancy Official Model Question Paper 2019 - 2020 - by Kokila - Tirunelveli View & Read

12th Accountancy - Financial Statement Analysis Book Back Questions - by Kokila - Tirunelveli View & Read

  • 1)

    Which of the following statements is not true?

  • 2)

    The term ‘fund’ refers to

  • 3)

    Which of the following statements is not true?

  • 4)

    In a common-size balance sheet, if the percentage of non-current assets is 75, what would be the percentage of current assets?

  • 5)

    Expenses for a business for the first year were Rs. 80,000. In the second year, it was increased to Rs. 88,000. What is the trend percentage in the second year?

12th Accountancy Unit 9 Ratio Analysis Book Back Questions - by Kokila - Tirunelveli View & Read

  • 1)

    The mathematical expression that provides a measure of the relationship between two figures is called

  • 2)

    Proportion of share holder's funds to total assets is called

  • 3)

    Which one of the following is not correctly matched?

  • 4)

    Current liabilities Rs. 40,000; Current assets Rs. 1,00,000 ; Inventory Rs. 20,000. Quick ratio is

  • 5)

    Cost of revenue from operations Rs. 3,00,000; Inventory in the beginning of the year Rs. 60,000; Inventory at the close of the year Rs. 40,000. Inventory turnover ratio is

12th Accountancy Chapter 10 Computerized Accounting System-Tally Book Back Questions - by Kokila - Tirunelveli View & Read

  • 1)

    Accounting report prepared according to the requirements of the user is

  • 2)

    Salary account comes under which of the following head?

  • 3)

    Rs. 25,000 withdrawn from bank for office use. In which voucher type, this transaction will be recorded

  • 4)

    In which voucher type credit purchase of furniture is recorded in Tally

  • 5)

    Which of the following options is used to view Trial Balance from Gateway of Tally?

12th Standard Accountancy Chapter 7 Company Accounts Book Back Questions - by Kokila - Tirunelveli View & Read

  • 1)

    A preference share is one
    (i) which carries preferential right with respect to payment of dividend at fixed rate
    (ii) which carries preferential right with respect to repayment of capital on winding up

  • 2)

    Which of the following statement is false?

  • 3)

    When shares are issued for purchase of assets, the amount should be credited to

  • 4)

    Match the pair and identify the correct option

    (1) Under subscription (i) Amount prepaid for calls
    (2) Over subscription (ii) Subscription above the offered shares
    (3) Calls in arrear (iii) Subscription below the offered shares
    (4) Calls in advance (iv) Amount unpaid on calls
  • 5)

    If a share of Rs.10 on which Rs.8 has been paid up is forfeited. Minimum reissue price is

12th Standard Accountancy - Retirement and Death of a Partner Book Back Questions - by Kokila - Tirunelveli View & Read

  • 1)

    A partner retires from the partnership firm on 30th June. He is liable for all the acts of the firm up to the

  • 2)

    On retirement of a partner, general reserve is transferred to the

  • 3)

    ‘ A’ was a partner in a partnership firm. He died on 31st March 2019. The final amount due to him is Rs. 25,000 which is not paid immediately. It will be transferred to

  • 4)

    A, B and C are partners sharing profits in the ratio of 4:2:3. Cretires. The new profit sharing ratio between A and B will be

  • 5)

    X, Y and Z were partners sharing profits and losses equally. X died on 1st April 2019. Find out the share of X in the profit of 2019 based on the profit of 2018 which showed Rs. 36,000.

12th Standard Accountancy Unit 5 Admission of a Partner Book Back Questions - by Kokila - Tirunelveli View & Read

  • 1)

    At the time of admission, the goodwill brought by the new partner may be credited to the capital accounts of

  • 2)

    Which of the following statements is not true in relation to admission of a part

  • 3)

    Select the odd one out

  • 4)

    James and Kamal are sharing profits and losses in the ratio of 5:3. They admit Sunil as a partner giving him 1/5 share of profits. Find out the sacrificing ratio.

  • 5)

    Balaji and Kamalesh are partners sharing profits and losses in the ratio of 2:1. They admit Yogesh into partnership. The new profit sharing ratio between Balaji, Kamalesh and Yogesh is agreed to 3:1:1. Find the sacrificing ratio between Balaji and Kamalesh.

12th Standard Accountancy - Accounts of Partnership Firms-Fundamentals Book Back Questions - by Kokila - Tirunelveli View & Read

  • 1)

    In the absence of a partnership deed, profits of the firm will be shared by the partners in

  • 2)

    Which of the following is the incorrect pair?

  • 3)

    In the absence of an agreement, partners are entitled to

  • 4)

    Pick the odd one out

  • 5)

    Profit after interest on drawings, interest on capital and remuneration is Rs.10,500. Geetha, a partner, is entitled to receive commission @ 5% on profits after charging such commission. Find out commission.

12th Standard Accountancy - Goodwill In Partnership Accounts Book Back Questions - by Kokila - Tirunelveli View & Read

  • 1)

    Which of the following statements is true?

  • 2)

    The average rate of return of similar concerns is considered as

  • 3)

    When the average profit is Rs.25,000 and the normal profit is Rs.15,000, super profit is

  • 4)

    Book profit of 2017 is Rs.35,000; non-recurring income included in the profit is Rs.1,000 and abnormal loss charged in the year 2017 was Rs.2,000, then the adjusted profit is

  • 5)

    The total capitalised value of a business is Rs.1,00,000; assets are Rs.1,50,000 and liabilities are Rs.80,000. The value of goodwill as per the capitalisation method will be

12th Standard Accountancy Unit 2 Accounts of Not-For-Profit Organisation Book Back Questions - by Kokila - Tirunelveli View & Read

  • 1)

    Income and Expenditure Account is prepared to find out

  • 2)

    Which of the following should not be recorded in the income and expenditure account?

  • 3)

    Legacy is a

  • 4)

    Donations received for a specific purpose is

  • 5)

    There are 500 members in a club each paying Rs.100 as annual subscription. Subscription due but not received for the current year is Rs.200; Subscription received in advance is Rs.300.Find out the amount of subscription to be shown in the income and expenditure account

12th Standard Accountancy Unit 1 Accounts From Incomplete Records Book Back Questions - by Kokila - Tirunelveli View & Read

  • 1)

    The amount of credit sales can be computed from

  • 2)

    Which one of the following statements is not true in relation to incomplete records?

  • 3)

    What is the amount of capital of the proprietor, if his assets are Rs. 85,000 and liabilities are Rs. 21,000?

  • 4)

    When capital in the beginning is Rs 10,000, drawings during the year is Rs.6,000, profit made during the year is Rs2,000 and the additional capital introduced is 3,000, find out the amount of capital at the end

  • 5)

    Opening balance of debtors: Rs 30,000, cash received:Rs 1,00,000, credit sales: Rs90,000; closing balance of debtors is

12th Standard Accountancy - Ratio Analysis One Mark Question with Answer Key - by Kokila - Tirunelveli View & Read

  • 1)

    The mathematical expression that provides a measure of the relationship between two figures is called

  • 2)

    Current ratio indicates

  • 3)

    All solvency ratios are expressed in term of

  • 4)

    All activity ratios are expressed in terms of

  • 5)

    All profitability ratios are expressed in terms of

12th Standard Accountancy - Financial Statement Analysis One Mark Question and Answer - by Kokila - Tirunelveli View & Read

  • 1)

    Which of the following statements is not true?

  • 2)

    Balance sheet provides information about the financial position of a business concern

  • 3)

    Which of the following statements is not true?

  • 4)

    A limited company’s sales has increased from Rs.1,25,000 to Rs.1,50,000. How does this appear in comparative income statement?

  • 5)

    In a common-size balance sheet, if the percentage of non-current assets is 75, what would be the percentage of current assets?

12th Accountancy - Company Accounts One Mark Question with Answer - by Kokila - Tirunelveli View & Read

  • 1)

    A preference share is one
    (i) which carries preferential right with respect to payment of dividend at fixed rate
    (ii) which carries preferential right with respect to repayment of capital on winding up

  • 2)

    Which of the following statement is false?

  • 3)

    When shares are issued for purchase of assets, the amount should be credited to

  • 4)

    The money raised by issuing shares is called

  • 5)

    Profits are distributed among the shareholders in the form of

12th Accountancy Chapter 4 Goodwill In Partnership Accounts One Mark Question and Answer - by Kokila - Tirunelveli View & Read

  • 1)

    Which of the following statements is true?

  • 2)

    Super profit is the difference between

  • 3)

    When the average profit is Rs.25,000 and the normal profit is Rs.15,000, super profit is

  • 4)

    Book profit of 2017 is Rs.35,000; non-recurring income included in the profit is Rs.1,000 and abnormal loss charged in the year 2017 was Rs.2,000, then the adjusted profit is

  • 5)

    The total capitalised value of a business is Rs.1,00,000; assets are Rs.1,50,000 and liabilities are Rs.80,000. The value of goodwill as per the capitalisation method will be

12th Accountancy Unit 5 Admission of a Partner One Mark Question and Answer - by Kokila - Tirunelveli View & Read

  • 1)

    Revaluation A/c is a

  • 2)

    On revaluation, the increase in the value of assets leads to

  • 3)

    The profit or loss on revaluation of assets and liabilities is transferred to the capital account of

  • 4)

    At the time of admission, the goodwill brought by the new partner may be credited to the capital accounts of

  • 5)

    Revaluation account is also called

12th Accountancy Chapter 6 Retirement and Death of a Partner One Mark Question and Answer - by Kokila - Tirunelveli View & Read

  • 1)

    A partner retires from the partnership firm on 30th June. He is liable for all the acts of the firm up to the

  • 2)

    On retirement of a partner from a partnership firm, accumulated profits and losses are distributed to the partners in the

  • 3)

    If the final amount due to a retiring partner is not paid immediately, it is transferred to

  • 4)

    A partner who retires from the firm is called an

  • 5)

    Profits and losses of previous years which are not distributed to the partners are known as

12th Accountancy Unit 3 Accounts of Partnership Firms - Fundamentals One Mark Question and Answer - by Kokila - Tirunelveli View & Read

  • 1)

    In the absence of a partnership deed, profits of the firm will be shared by the partners in

  • 2)

    In the absence of an agreement among the partners, interest on capital is

  • 3)

    As per the Indian Partnership Act, 1932, the rate of interest allowed on loans advanced by partners is

  • 4)

    Which of the following is the incorrect pair?

  • 5)

    In the absence of an agreement, partners are entitled to

12th Standard Accountancy Unit 1 Accounts of Not - For - Profit Organisation One Mark Question Paper - by Kokila - Tirunelveli View & Read

  • 1)

    Receipts and payments account is a

  • 2)

    Receipts and payments account records receipts and payments of

  • 3)

    Subscription due but not received for the current year is

  • 4)

    Legacy is a

  • 5)

    Donations received for a specific purpose is

12th Accountancy Chapter 1 Accounts From Incomplete Records One Mark Question Paper - by Kokila - Tirunelveli View & Read

  • 1)

    Statement of affairs is a

  • 2)

    What is the amount of capital of the proprietor, if his assets are Rs. 85,000 and liabilities are Rs. 21,000?

  • 3)

    Opening balance of debtors: Rs 30,000, cash received:Rs 1,00,000, credit sales: Rs90,000; closing balance of debtors is

  • 4)

    The different between the total of assets and total of liabilities is taken as

  • 5)

    A firm has assets worth Rs.60,000 and capital Rs.45,000.Then it's liabilities is

12th Accountancy Company Accounts Model Question Paper - by Kokila - Tirunelveli View & Read

  • 1)

    The amount received over and above the par value is credited to

  • 2)

    Which of the following statement is false?

  • 3)

    In order to meet them production must be carried on a

  • 4)

    The capital of a company is divided into small units of

  • 5)

    Issue of equity shares to the existing share holders of the company through a letter of offer is known as

12th Accountancy - Unit 6 Retirement and Death of a Partner Model Question Paper - by Kokila - Tirunelveli View & Read

  • 1)

    A partner retires from the partnership firm on 30th June. He is liable for all the acts of the firm up to the

  • 2)

    A, B and C are partners sharing profits in the ratio of 4:2:3. Cretires. The new profit sharing ratio between A and B will be

  • 3)

    X, Y and Z were partners sharing profits and losses equally. X died on 1st April 2019. Find out the share of X in the profit of 2019 based on the profit of 2018 which showed Rs. 36,000.

  • 4)

    When a partner leaves from a partnership firm, it is known as

  • 5)

    The firm is reconstituted and other partners continue the partnership firm with a new

12th Standard Accountancy Chapter 5 Admission of a Partner Model Questions Paper - by Kokila - Tirunelveli View & Read

  • 1)

    Revaluation A/c is a

  • 2)

    At the time of admission, the goodwill brought by the new partner may be credited to the capital accounts of

  • 3)

    Balaji and Kamalesh are partners sharing profits and losses in the ratio of 2:1. They admit Yogesh into partnership. The new profit sharing ratio between Balaji, Kamalesh and Yogesh is agreed to 3:1:1. Find the sacrificing ratio between Balaji and Kamalesh.

  • 4)

    Revaluation account is also called

  • 5)

    When the value of an asset increases, it results in

12th Standard Accountancy First Mid Term Model Question Paper - by Kokila - Tirunelveli View & Read

  • 1)

    Incomplete records are generally maintained by

  • 2)

    Debtors on 1.4.2018 was Rs.1,00,000 and on 31.3.2019 was Rs.80,000 cash received from debtors during the year is Rs.1,60,000. Then the credit sales during the year is

  • 3)

    A statement of assets and liabilities prepared under the single entry system is called

  • 4)

    Receipts and payments account is a

  • 5)

    On what basis the receipts and payments account is prepared?

12th Standard Accountancy Chapter 4 Goodwill In Partnership Accounts Important Question Paper - by Kokila - Tirunelveli View & Read

  • 1)

    Identify the incorrect pair

  • 2)

    When the average profit is Rs.25,000 and the normal profit is Rs.15,000, super profit is

  • 3)

    The total capitalised value of a business is Rs.1,00,000; assets are Rs.1,50,000 and liabilities are Rs.80,000. The value of goodwill as per the capitalisation method will be

  • 4)

    Which is the present value of a firm's future excess earnings?

  • 5)

    Goodwill is shown under fixed assets in the

12th Standard Accountancy Chapter 3 Accounts of Partnership Firms - Fundamentals Important Question Paper - by Kokila - Tirunelveli View & Read

  • 1)

    In the absence of a partnership deed, profits of the firm will be shared by the partners in

  • 2)

    In the absence of an agreement among the partners, interest on capital is

  • 3)

    In the absence of an agreement, partners are entitled to

  • 4)

    The maximum number of partners in a partnership firm is

  • 5)

    In sole proprietorship, the profit or loss in the profit and loss account is transferred directly to the sole proprietor's

12th Standard Accountancy Unit 2 Accounts of Not-For-Profit Organisation Important Question Paper - by Kokila - Tirunelveli View & Read

  • 1)

    Receipts and payments account is a

  • 2)

    Receipts and payments account records receipts and payments of

  • 3)

    Balance of receipts and payments account indicates the

  • 4)

    Subscription received but not yet earned is considered as a /an

  • 5)

    Rs.10,000 received as to annual membership subscription. Out of this Rs.2,000 is pertaining to the previous accounting period whereas Rs.1000 is receivable at the end of the current accounting period. Calculate the amount of subscription that will be shown in the income and expenditure account for this accounting.

12th Accountancy - Unit 1 Model Question Paper - by Kokila - Tirunelveli View & Read

  • 1)

    Incomplete records are generally maintained by

  • 2)

    Statement of affairs is a

  • 3)

    Opening statement of affairs is usually prepared to find out the

  • 4)

    The excess of assets over liabilities is

  • 5)

    Which of the following items relating to bills payable is transferred to total creditors account?

model question paper for new syllabus of +2 state board english medium accountancy first chapter - by Deepak View & Read

  • 1)

    When capital in the beginning is Rs 10,000, drawings during the year is Rs.6,000, profit made during the year is Rs2,000 and the additional capital introduced is 3,000, find out the amount of capital at the end

  • 2)

    Opening balance of debtors: Rs 30,000, cash received:Rs 1,00,000, credit sales: Rs90,000; closing balance of debtors is

  • 3)

    The total assets of a proprietor are Rs.5,00,000. His liabilities Rs.3,50,000. Then his capital in the business is

  • 4)

    Under the net worth method, the basis for ascertaining the profit is

  • 5)

    A firms total sales is Rs.80,000 and its credit sales is Rs.60,000 Then its cash sales is

12th standard accountancy chapter one creative multiple choice questions for new syllabus state board english medium - by Deepak View & Read

  • 1)

    The different between the total of assets and total of liabilities is taken as

  • 2)

    The total assets of a proprietor are Rs.5,00,000. His liabilities Rs.3,50,000. Then his capital in the business is

  • 3)

    A firm has assets worth Rs.60,000 and capital Rs.45,000.Then it's liabilities is

  • 4)

    Under the net worth method, the basis for ascertaining the profit is

  • 5)

    Credit sale is obtained from

New syllabus important multiple choice questions for state board english medium accountancy chapter one for twelfth standard - by Deepak View & Read

  • 1)

    If building (Closing) Rs.1,00,000, Land (Opening) Rs.1,00,000, Creditors (Opening) Rs.10,000 the opening capital:

  • 2)

    Trial balance is not obtained in:

  • 3)

    In single entry two-fold aspects of transaction are not recorded, so it is

  • 4)

    Single entry system is not possible for:

  • 5)

    Balance sheet is prepared under