#### model question paper for new syllabus of +2 state board english medium accountancy first chapter

12th Standard EM

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Accountancy

Use blue pen only
Time : 01:30:00 Hrs
Total Marks : 75

Part - A

10 x 1 = 10
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

(a)

9,000

(b)

11,000

(c)

21,000

(d)

3,000

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

(a)

Rs.30,000

(b)

Rs.1,30,000

(c)

Rs.40,000

(d)

Rs.20,000

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

(a)

Rs.8,50,000

(b)

Rs.1,50,000

(c)

Rs.3,50,000

(d)

Rs.4,25,000

4. Under the net worth method, the basis for ascertaining the profit is

(a)

the difference between the capital on two dates

(b)

the difference between the liabilities on two dates

(c)

the different between the gross assets on two dates

(d)

the difference between the gross profit on two dates

5. A firms total sales is Rs.80,000 and its credit sales is Rs.60,000 Then its cash sales is

(a)

Rs.1,40,000

(b)

Rs.70,000

(c)

Rs.20,000

(d)

Rs.80,000

6. In single entry system of accounting

(a)

Duel aspects of a transaction is recorded

(b)

Single aspect of transaction is recorded

(c)

Important transaction are recorded

(d)

All of them

7. Statement of financial position from incomplete accounting record is commonly known as

(a)

Balance sheet

(b)

Cash flow statement

(c)

Statement of affairs

(d)

Statement of financial operations

8. Identify the correct formula used to ascertain the closing capital

(a)

Opening capital + Net income - Drawings - Assets = Closing capital

(b)

Closing capital = Opening capital + Net loss - Drawings

(c)

Closing capital = Opening capital + Assets + Income - Expenses

(d)

Closing capital = Opening capital + Net income - Drawings

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

(a)

Net income = Opening capital + Drwings + Ending capital

(b)

Net income = - Opening capital + Drawings - Ending capital

(c)

Nwt income = - Opening capital + Drawings + Ending capital

(d)

Net income = Opening capital - Total assets

10. 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

(a)

Rs.1,000 net income

(b)

Rs.1,000 net loss

(c)

Rs.2,000 net income

(d)

Rs.2,000 net loss

11. Part - B

3 x 2 = 6
12. (a) Incomplete
(b) Unsystematic
(c) Balance Sheet
(d) Unscientific

13. (a) Statement of affairs
(b) Net worth method method
(c) Annuity method
(d) Capital comparison method

14. (a) Conversion method
(b) Statement of affairs method
(c) Straight line method
(d) Net worth method

15. Part - C

2 x 2 = 4
16. Assertion (A): Single Entry System is an incomplete, inaccurate, unscientific and unsystematic system of book keeping.
Reason (R): The name of the system itself shows that the double aspects of business transactions are recorded.
(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.

17. Assertion (A): The single entry system is suitable only for sole traders and partnership firms.
Reason (R): Companies cannot keep books on Double entry system because of legal provisions.
(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.

18. Part - D

5 x 1 = 5
19. (i) Double Entry System is an incomplete, inaccurate" unscientific and unsystematic system of book keeping.
(ii) The Double entry system is suitable only for sole traders and partnership firms.
(iii) Single Entry System is an incomplete, inaccurate, unscientific and unsystematic system of book keeping.
(a) (i) is correct
(b) (ii) is correct
(c) (iii) is correct
(d) (i) and (ii) are correct

()

(iii) is correct

20. (i) Incomplete records system makes use of Double Entry System partially. It maintains only personal and cash accounts.
(ii) Thus, Double entry actually refers to incomplete Single entry system or the defective Single entry system.
(iii) Single entry is Debit and credit aspects of all transactions are recorded.
(a) (i) is correct
(b) (ii) is correct
(c) (iii) is correct
(d) (i) and (ii) are correct

()

(i) is correct

21. (i) Single entry is Debit and credit aspects of all transactions are recorded.
(ii) Single Entry System is a system of book keeping in which as a rule, only records of cash and personal accounts are maintained.
(iii) Double Entry System is an incomplete, inaccurate, unscientific and unsystematic system of book keeping.
(a) (i) is correct
(b) (ii) is correct
(c) (iii) is correct
(d) (i) and (ii) are correct

()

(ii) is correct

22. (i) Companies cannot keep books on double entry system because of legal provisions.
(ii) It is always incomplete Single entry varying with circumstances.
(iii) Single entry actually refers to incomplete double entry system or the defective double entry system.
(a) (i) is correct
(b) (ii) is correct
(c) (iii) is correct
(d) (i) and (ii) are correct

()

(iii) is correct

23. (i) Double entry actually refers to incomplete Single entry system or the defective Single entry system.
(ii) Double Entry System is a system of book keeping in which as a rule, only records of cash and personal accounts are maintained.
(iii) If it is desired to calculate profit by preparing Trading and Profit and Loss account under single entry then it is called conversion method.
(a) (i) is correct
(b) (ii) is correct
(c) (iii) is correct
(d) (i) and (ii) are correct

()

(iii) is correct

24. Part - E

5 x 2 = 10
25. 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
26. 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
27. From the following details, calculate the missing figure

Rs.
Closing capital as on 31.3.2019 1,90,000
Additional capital introduced during the year 50,000
Drawings during the year 30,000
Opening capital on 1.4.2018 ?
Loss for the year ending 31.3.2019 40,000
28. 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
29. 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 ?
30. Part - F

5 x 3 = 15
31. 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
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.

32. 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%.

33. Find out credit sales from the following information:

Rs.
Debtors on 1st January 2018 40,000
Discount allowed 5,000
Sales returns 2,000
Debtors on 31st December 2018 Debtors on 31st December 2018
34. 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
Debtors on 31st March 2019 70,000
Cash Sales 1,40,000
35. 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
36. Part - G

5 x 5 = 25
37. 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
38. 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
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
39. 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.

40. 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
Purchase returns 7,500
41. 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
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 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