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12th Standard Accountancy Study material & Free Online Practice Tests - View Model Question Papers with Solutions for Class 12 Session 2020 - 2021
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Accountancy Question Papers

One Mark Important Questions - by Kokila - Tirunelveli - View & Read

  • 1)

    Statement of affairs is a

  • 2)

    Opening statement of affairs is usually prepared to find out the

  • 3)

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

  • 4)

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

  • 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 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

View all

TN Stateboard Education Study Materials

TN Stateboard Updated Class 12th Accountancy Syllabus

Accounts From Incomplete Records

Introduction - Meaning of incomplete records - Features of incomplete records - Limitations of incomplete records - Differences between double entry system and incomplete records - Accounts from incomplete records - Ascertaining profit or loss from incomplete records through statement of affairs - Preparation of final accounts from incomplete records

Accounts of Not-For-Profit Organisation

Introduction - Features of not-for-profit organisations - Receipts and Payments Account - Items peculiar to not-for-profit organisations - Income and Expenditure Account - Balance Sheet

Accounts of Partnership Firms-Fundamentals

Introduction - Meaning, definition, and features of partnership - Partnership deed - Application of the provisions of the Indian Partnership Act, 1932 in the absence of partnership deed - Final accounts of partnership firms - Methods of maintaining capital accounts of partners - Interest on capital and interest on drawings of partners - Salary and commission to partners - Interest on loan from partners - Division of profits among partners - Profit and loss appropriation account

Goodwill In Partnership Accounts

Introduction - Nature of goodwill - Factors determining the value of goodwill of a partnership firm - Need for valuation of goodwill of partnership firms - Classification of goodwill - Methods of valuation of goodwill

Admission of a Partner

Introduction - Adjustments required at the time of admission of a partner - Distribution of accumulated profits, reserves and losses - Revaluation of assets and liabilities - New profit sharing ratio and Sacrificing ratio - Adjustment for goodwill - Adjustment of capital on the basis of new profit sharing ratio

Retirement and Death of a Partner

Introduction - Adjustments required on retirement of a partner - Distribution of accumulated profits, reserves and losses - Revaluation of assets and liabilities - Determination of new profit sharing ratio and gaining ratio - Adjustment for goodwill - Adjustment for current year's profit or loss upto the date retirement - Settlement of the amount due to the retiring partner, Death of a partner - Adjustments required on the death of a partner

Company Accounts

Introduction - Meaning and definition of a company - Characteristics of a company - Meaning and types of shares - Divisions of share capital - Issue of equity shares - Process of issue of equity shares - Issue of shares for cash in instalments - Issue of shares for cash in lumpsum - Issue of shares for consideration other than cash

Financial Statement Analysis

Introduction - Financial statements - Financial statements of companies - Financial statement analysis - Tools of financial statement analysis - Preparation of comparative statements - Preparation of common - size statements - Trend analysis

Ratio Analysis

Introduction - Meaning of accounting ratios - Meaning and definition of ratio analysis - Objectives of ratio analysis - Classification of ratios - Computation of ratios - Advantages of ratio analysis - Limitations of ratio analysis

Computerized Accounting System-Tally

Introduction - Applications of Computerised Accounting System (CAS) - Automated accounting system - Designing the accounting reports - Data exchange with other information system - Application of computerised accounting system - Tally with GST package - Practical application of accounting software - Tally.ERP 9

TN StateboardStudy Material - Sample Question Papers with Solutions for Class 12 Session 2020 - 2021

Latest Sample Question Papers & Study Material for class 12 session 2020 - 2021 for Subjects Maths, Chemistry, Physics, Biology, Computer Science, Business Maths, Economics, Commerce, History, Computer Applications, Computer Technology, English, உயிரியல், கணினி பயன்பாடுகள், கணினி அறிவியல், வணிகக் கணிதம், வணிகவியல், பொருளியல், கணிதவியல், வேதியியல், இயற்பியல், கணினி தொழில்நுட்பம், வரலாறு, கணக்குப்பதிவியல், தமிழ் in PDF form to free download [ available question papers ] for practice. Download QB365 Free Mobile app & get practice question papers.

More than 1000+ TN Stateboard Syllabus Sample Question Papers & Study Material are based on actual Board question papers which help students to get an idea about the type of questions that will be asked in Class 12 Final Board Public examinations. All the Sample Papers are adhere to TN Stateboard guidelines and its marking scheme , Question Papers & Study Material are prepared and posted by our faculty experts , teachers , tuition teachers from various schools in Tamilnadu.

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