Books of Prime Entry - Important Question Paper

11th Standard

    Reg.No. :
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Accountancy

Time : 01:00:00 Hrs
Total Marks : 50

    Part A

    10 x 1 = 10
  1. The incorrect accounting equation _________

    (a)

    Assets = Liabilities + Capital

    (b)

    Assets = Capital + Liabilities

    (c)

    Liabilities = Assets + Capital

    (d)

    Capital = Assets - Liabilities

  2. Accounting equation is formed based on the accounting principle of ______

    (a)

    Dual aspect

    (b)

    Consistency

    (c)

    Going concern

    (d)

    Accrual

  3. Real account deals with ______

    (a)

    Individual persons

    (b)

    Expenses and losses

    (c)

    Assets

    (d)

    Incomes and gains

  4. Withdrawal of cash from business by the proprietor should be credited to________

    (a)

    Drawings A/c

    (b)

    Cash A/c

    (c)

    Capital A/c

    (d)

    Purchases A/c

  5. In double entry system of book keeping, every business transaction affects ______

    (a)

    Minimum of two accounts

    (b)

    Same account on two different dates

    (c)

    Two sides of the same account

    (d)

    Minimum three accounts

  6. ____________ are recorded as and when they take place with the written and authentic proof.

    (a)

    Accounting equations

    (b)

    Transactions

    (c)

    Accountants

    (d)

    Book keeping

  7. ______ is used for credit purchases and credit sales.

    (a)

    Cash Receipt

    (b)

    Debit Note

    (c)

    Invoice

    (d)

    Credit Note

  8. ________ is prepared in three copies.

    (a)

    Debit Note

    (b)

    Credit Note

    (c)

    Receipts

    (d)

    Invoice

  9. _______ is prepared in duplicate and the original is sent to the seller.

    (a)

    Debit Note

    (b)

    Credit Note

    (c)

    Pay-in-slip

    (d)

    None of these

  10. A debit note is called as _______

    (a)

    debit memo

    (b)

    credit memo

    (c)

    pay-in-slip

    (d)

    receipts

  11. Part B

    6 x 2 = 12
  12. What is meant by journalising?

  13. What is real account?

  14. How are personal accounts classified?

  15. State the accounting rule for nominal account

  16. What do you mean by Invoice?

  17. Give the meaning of credit note

  18. Part C

    6 x 3 = 18
  19. Write a brief note on accounting equation approach of recording transactions.

  20. What is an Account? Classify the accounts with suitable examples.

  21. What is the accounting treatment for insurance premium paid on the life of the proprietor?

  22. State the principles of double entry system of book keeping.

  23. State the different approaches in recording business transactions.

  24. Indicate how assets, liabilities and capital are affected by each of the following transactions with an accounting equation.
    i) Purchase of machinery for cash  Rs.3,00,000
    ii) Receipt of cash from a debtor  Rs.50,000
    iii) Cash payment of a creditor  Rs.30,000

  25. Part D

    2 x 5 = 10
  26. Create accounting equation on the basis of the following transactions:
    (i) Opening balance on pt January, 2018 cash Rs.20,000; stock Rs.50,000 and bank Rs.80,000
    (ii) Bought goods from Suresh Rs.10,000 on credit
    (iii) Bank charges Rs.500
    (iv) Paid Suresh Rs.9,700 through credit card in full settlement.
    (v) Goods purchased on credit from Philip for Rs.15,000
    (vi) Goods returned to Philip amounting to Rs.4,000

  27. Karthick opened a provisions store on pt April, 2017. Journalise the following transactions in his books:

    2017 April   Rs
    1 Paid into bank for opening a current account 2,00,000
    3 Goods purchased by cheque 40,000
    5 Investments made in securities 40,000
    6 Goods sold to Radha for Rs.20,000 and cheque received and deposited into bank  
    7 Amount withdrawn from bank for office use 15,000
    10 Purchased goods from Kamala and cash deposited in CDM 10,000
    12 Sold goods to Vanitha who paid through debit card 10,000
    15 Interest on securities directly received by the bank 1,000
    20 Insurance paid by the bank as per standing instructions 2,000
    25 Sales made to Kunal who made payment through CDM 6,000

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