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11th Accountancy - Ledger Model Question Paper

Published on: 27/11/2019

Ledger

Download Tamil Nadu 11th Standard Accountancy question papers, model tests, one-mark questions, important questions, and public exam papers in PDF format. Free study materials and answer keys for TN State Board students.

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Questions:

Multiple Choice Question

5 x 1 = 5

Nominal account having Debit balance represents _________________

(a)

income/gain

(b)

expenses/losses

(c)

liability

(d)

assets

Nominal Account having credit balance represents ___________________

(a)

income/gain

(b)

expenses/losses

(c)

assets

(d)

liabilities

If the total of the debit side of an account exceeds the total of its credit side, it means

(a)

Credit Balance

(b)

Debit Balance

(c)

Nil Balance

(d)

Debit and Credit Balance

The process of finding the net amount from the totals of debit and credit columns in a ledger is known as

(a)

Casting

(b)

Posting

(c)

Journalising

(d)

Balancing

Main objective of preparing ledger account is to

(a)

Ascertain the financial position

(b)

Ascertain the profit or loss

(c)

Ascertain the profit or loss and the financial position

(d)

Know the balance of each ledger account

Generic 2

5 x 2 = 10

What is the purpose of a Ledger?

Does debit always mean increase and credit always mean decrease?

Prepare a purchase account from the following transactions.

2010 March		Rs
1	Purchases goods to Aravind	12,000
4	Purchases goods to Neha	5,000
11	Purchases goods to Anu	11,000
17	Purchases goods to Kumar	4,000

What is credit balance?

10.

What is debit balance?

Generic 3

5 x 3 = 15

11.

What are the steps in posting?

12.

On 15^th March 2017, Ramesh paid Rs. 13,800 in full settlement of his account Rs. 15,000 due to his creditor Dinesh. Pass journal entry and prepare ledger accounts.

In the books of Ramesh Journal entry
Date	Particulars	Debit Rs	Credit Rs
2017
March 15	Dinesh A/c Dr.	15,000
	To Cash A/c		13,800
	To Discount received A/c		1,200
	(Paid Dinesh in full settlement of his account)

13.

Post the following transactions direct into ledger of Akbar.

2018 March		Rs
1	Bought goods for Cash	25,000
2	Sold goods for Cash	50,000
3	Bought goods for Credit from Gopi	19,000
5	Sold goods on Credit to Robert	8,000
7	Received from Robert	6,000
9	Paid to Gopi	5,000
20	Bought furniture for Cash	7,000

14.

Explain the procedure for balancing a ledger account.

15.

How is posting made from the journal to the ledger?

Generic 5

4 x 5 = 20

16.

Journalise the following transactions in Thiru. Manikandan's books and post them to ledger and balance them.

2013, Aug.	5 Sold goods to Arumugam on Credit	Rs. 17,500
	9 Bought goods for cash from Chellappan	Rs. 22,500
	12 Met Travelling expenses	Rs. 2,500
	15 Received Rs. 80,000 from Sivakumar as loan
	21 Paid wages to workers	Rs. 3,000

17.

Prepare a Sales account from the following transactions.

2018 Jan.		Rs.
1	Sold goods to Sam	4,000
4	Sold goods to Suresh	2,500
11	Sold goods to Joy	8,000
17	Sold goods to Rajan	3,000

18.

Journalise the following transactions in Thiru. Kumaran books and post them to ledger.

2013Aug.		Rs
5	Sold goods to Arumugam on Credit	17,500
9	Bought good for cash from Chellapan	22,500
12	Met Travelling expenses	2,500
15	Received 80,000 from Sivakumar as loan
21	Paid wages to workers	3,000

19.

Give journal entries for the following transactions and post them to ledger.

2015 Mar		Rs.
1	Goods sold to Somu on credit	5,000
7	Furniture purchased for cash	300
15	Interest received	1,800

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Answers Key:

Multiple Choice Question

5 x 1 = 5

(b)
expenses/losses

(a)
income/gain

(b)
Debit Balance

(d)
Balancing

(d)
Know the balance of each ledger account

Generic 2

5 x 2 = 10

The purpose of a ledger account is to classify the transactions according to their nature and item.

No, it is not true. Debit does not always mean increase and credit does not always mean decrease. It depends upon the accounts involved.

Dr Purchase Account Cr
Date	Particulars	Amount Rs	Date	Particulars	Amount Rs
2010 Mar 1	To Aravind A/c	12,000	2010 Mar 31	By Balance c/d	32,000
4	To Neha A/c	5,000
11	To Anu A/c	11,000
17	To Kumar A/c	4,000
		32,000			32,000
2010 Apr. 1	To Balance b/d	32,000

(i) The excess of credit total over the debit total is called the credit balance.
(ii) When there is only credit entries in an account, the amount itself is the balance of that account, i.e., the credit balance.

10.

(i) The excess of debit total over the credit total is called the debit balance.
(ii) When there is only debit entries in an account, the amount itself is the balance of that account, i.e., the debit balance

Generic 3

5 x 3 = 15

11.

Steps in posting:
(i) Procedure of posting for an account which has been debited in the journal entry:
Step 1: Locate in the ledger, the account to be debited and enter the date of the transaction in the date column on the debit side.
Step 2: Record the name of the account credited in the journal in the particulars column on the debit side as "To .......... (name of the account credited)".
Step 3: Record the page number of the journal in the J.F. column on the debit side of the ledger. And in the journal, write the page number of the ledger on which a particular account appears in the L.F. column.
Step 4: Enter the relevant amount in the amount column on the debit side.
(ii) Procedure of posting for an account which has been credited in the journal entry:
Step 1: Locate in the ledger, the account to be credited and enter the date of the transaction in the date column on the credit side.
Step 2: Record the name of the account debited in the journal in the particulars column on the credit side as "By................ (name of the account debited)".
Step 3: Record the page number of the journal in the J.F. column on the credit side in the ledger. And in the journal, write the page number of the ledger on which a particular account appears in the L.F column.
Step 4: Enter the relevant amount in the amount column on the credit side.

12.

Dr. Dinesh account Cr.
Date	Particulars	Rs
2017
March 15	To Cash A/c	13,800
	To Discount received A/c	1,200

Dr. Cash account Cr.
Date	Particulars	J.F.	Rs	Date	Particulars	J.F.	Rs
				2017
				March 15	By Dinesh A/c		13,800

Dr. Discount received account Cr.
Date	Particulars	J.F.	Rs	Date	Particulars	J.F.	Rs
				2017
				March 15	By Dinesh A/c		1,200

13.

Dr Ledger Account of Akbar Cash Account Cr
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2018 Mar. 5	To Sales A/c		50,000	2018 Mar. 1	By Purchases A/c		25,000
7	To Robert A/c		6,000	9	By Gopi A/c		5,000
				20	By Furniture A/c		7,000
				31	By Balance c/d		19,000
			56,000				56,000
2018 Apr. 1	To Balance b/d		19,000

Dr Purchase Account Cr
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2018 Mar. 1	To Cash A/c		25,000	2018 Mar 31	By Balance c/d		44,000
3	To Gopi A/c		19,000
			44,000				44,000
2018 Apr. 1	To Balance b/d		44,000

Dr Sales Account Cr
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2018 Mar. 31	To Balance c/d		58,000	2018 Mar. 2	By Cash A/c		50,000
				5	By Robert A/c		8,000
			58,000				58,000
				2018 Apr. 1	By Balance b/d		58,000

Dr Furniture Account Cr
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2018 Mar. 20	To Cash A/c		7,000	2018 Mar. 31	By Balance c/d		7,000
			7,000				7,000
2016 Apr. 1	To Balance b/d		7,000

Dr Gopi Account Cr
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2018 Mar. 9	To Cash A/c		5,000	2018 Mar 03	By Purchases A/c		19,000
31	To Balance c/d		14,000
			19,000				19,000
				2018 Apr 01	By Balance b/d		14,000

Dr. Robert Account Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2018 Mar. 5	To Sales A/c		8,000	2018 Mar. 7	By Cash A/c		6,000
				30	By Balance c/d		2,000
			8,000				8,000
2018 Apr. 1	To Balance b/d		2,000

14.

(i) The debit and credit columns of an account are to be totalled separately.
(ii) The difference between the two totals is to be ascertained.
(iii) The difference is to be placed in the amount column of the side having lesser total. 'Balance c/d' is to be entered in the particulars column against the difference and in the date column the last day of the accounting period is entered.
(iv) Now both the debit and credit columns are to be total and the totals will be equal. The totals of both sides are to be recorded in the same line horizontally.
(v) The total is to be distinguished from other figures by drawing lines above and below the amount.
(vi) The difference has to be brought down to the opposite side below the total.
(vii) 'Balance b/d' is to be entered in the particulars column against the difference brought down and in the date column, the first day of the next accounting period is entered.
(viii) If the total on the debit side of an account is higher, the balancing figure is debit balance and if the credit side of an account has higher total, the balancing figure is credit balance. If the two sides are equal, that account will show nil balance.

15.

The procedure of posting from journal to ledger is as follows:
(i) Locate the ledger account that is debited in the journal entry. Open the respective account in the ledger if already not opened. Write the name of the account in the top middle. If already opened, locate the account from the ledger index.
(ii) Record the date of the transaction in the date column on the debit side of that account.
(iii) Record the name of the account credited in the Journal with the prefix 'To' in particulars column.
(iv) Record the amount of the debit in the 'Amount column'.
(v) Locate the Ledger account that is credited in the journal entry. Open the respective account in the ledger if already not opened.
(vi) Write the name of the account in the top middle. If already opened, locate the account from the ledger index.
(vii) Record the name of the account debited in the journal entry particulars column with the prefix 'By' and write the amount in the amount column.

Generic 5

4 x 5 = 20

16.

Journal Entries of Thiru. Manikandan
Date	Particulars		Debit Rs.	Credit Rs.
1.8.13	Arumugam A/c	Dr.	17,500
	To Sales A/c			17,500
	(Credit sales)
9.8.13	Purchases A/c	Dr.	22,500
	To Cash A/c			22,500
	(Cash purchases)
12.8.13	Travelling Expenses A/c	Dr.	2,500
	To Cash A/c			2,500
	(Travelling expenses paid)
15.8.13	Cash A/c	Dr.	80,000
	To Sivakumar's Loan A/c			80,000
	(Loan received from Sivakumar)
21.8.13	Wages A/c	Dr.	3,000
	To Cash A/c			3,000
	(Wages paid)

Dr. Ledger Accounts of Thiru. Manikandan Arumugam A/C Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
5.8.13	To Sales A/c	17,500	31.8.13	By Balance c/d	17,500
		17,500			17,500
1.9.13	To Balance b/d	17,500

Dr. Sales A/c Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
31.8.13	To Balance c/d	17,500	5.8.15	By Arumugam A/c	17,500
		17,500			17,500
			1.9.13	By Balance b/d	17,500

Dr. Purchases A/c Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
9.8.13	To Cash A/c	22,500	31.8.13	By Balance c/d	22,500
		22,500			22,500
1.9.13	To Balance b/d	22,500

Dr. Cash A/c Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
15.8.13	To Sivakumar's Loan A/c	80,000	9.8.13	By Purchases A/c	22,500
				By Travelling Expenses A/c	2,500
				By Wages A/c	3,000
				By Balance c/d	52,000
		80,000			80,000
1.9.13	To Balance b/d	52,000

Dr. Travelling Expenses A/c Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
12.8.13	To Cash A/c	2,500	31.8.13	By Balance c/d	2,500
		2,500			2,500
1.9.13	To Balance b/d	2,500

Dr. Sivakumar's Loan A/c Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
31.8.13	To Balance c/d	80,000	15.8.13	By Cash A/c	80,000
		80,000			80,000
			1.9.13	By Balance b/d	80,000

Dr. Wages A/c Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
21.8.13	To Cash A/c	3,000	31.8.13	By Balance c/d	3,000
		3,000			3,000
1.9.13	To Balance b/d	3,000

17.

Dr. Sales Account Cr.
Date	Particulars	J.F.	Amount Rs.	Date	Particulars	J.F.	Amount Rs.
				2018 Jan. 1	By Sam A/c		4,000
				4	By Suresh A/c		2,500
				11	By Joy A/c		8,000
2018 Jan. 31	To Balance c/d		17,500	17	By Rajan A/c		3,000
			17,500				17,500
				2018 Feb. 1	By Balance b/d		17,500

18.

In the books of Thiru. Kumaran Journal Entries
Date	Particulars	Debit Rs.	Credit Rs.
2013 Aug. 5	Arumugam's A/c Dr. To SalesA/c (Credit Sales)	17,500	17,500
9	Purchases A/c Dr. To Cash A/c (Cash purchases)	22,500	22,500
12	Traveling Expenses A/c Dr. To Cash A/c (Traveling expenses paid)	2,500	2,500
15	Cash A/c Dr. To Sivakumar's Loan A/c (Loan from Sivakumar)	80,000	80,000
21	Wages A/c Dr. To Cash A/c (Wages paid)	3,000	3,000

Dr. Ledger Account of Thiru. Kumaran Arumugam Account Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
2013 Aug. 5	To Sales A/c	17,500	2013 Aug. 31	By Balance c/d	17,500
		17,500			17,500
2013 Sep. 1	To Balance b/d	17,500

Dr. Sales Account Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
2013 Aug. 31	To Balance c/d	17,500	2013 Aug. 5	By Arnmugam A/c	17,500
		17,500			17,500
			2013 Aug. 5	By Balance b/d	17,500

Dr. Purchases Account Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
2013 Aug. 9	To Cash A/c	22,500	2013 Aug. 31	By Balance c/d	22,500
		22,500			22,500
2013 Sep. 1	To Balance b/d	22,500

Dr. Cash Account Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
2013 Aug. 15	To Sivakumar's loan A/c	80,000	2013 Aug. 9	By Purchases A/c	22,500
			12	By Traveling expenses A/c	2,500
			21	By Wages A/c	3,000
			31	By Balance c/d	52,000
		80,000			80,000
2013 Sep. 1	To Balance b/d	52,000

Dr. Traveling expenses Account Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
2013 Aug 12	To Cash A/c	2,500	2013 Aug 31	By Balance c/d	2,500
		2,500			2,500
2013 Sep 1	To Balance b/d	2,500

Dr. Sivakumar's Loan Account Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
2013 Aug. 31	To Balance c/d	80.000	2013 Aug. 15	By Cash A/c	80.000
		80.000			80.000
			2013 Sep. 1	By Balance b/d	80.000

Dr. Wages Account Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
2013 Aug. 21	To Cash A/c	3,000	2013 Aug. 31	By Balance c/d	3,000
		3,000			3,000
2013 Sep. 1	To Balance b/d	3,000

19.

Journal entries
Date	Particulars	Debit (Rs.)	Credit (Rs.)
2015 Mar. 1	Somu's A/c Dr.	5,000	5,000
7	Furniture Alc Dr.	300	300
15	Cash A/c Dr. To Interest Received A/c (Interest received)	1,800	1,800

Dr. Ledger Account Somu Account Cr.
Date	Particulars	Amount(Rs.)	Date	Particulars	Amount
2015 Mar 1	To Sales A/c	5,000	2015 Mar 31	By Balance c/d	5,000
		5,000			5,000
2015 Apr 1	To Balance b/d	5,000

Dr. **Cash Account** Cr.
Date	Particulars	Amount(Rs.)	Date	Particulars	Amount
2015 Mar 15	To Interest		2015 Mar 7	By Furniture A/c	300
	Received A/c	1,800	31	By Balance c/d	1,500
		1,800			1,800
2015 Apr 1	To Balance b/d	1,500

Dr. Sales Account Cr.
Date	Particulars	Amount(Rs.)	Date	Particulars	Amount
2015 Mar 31	To Balance b/d	5,000	2015 Mar 1	By Somu's A/c	5,000
		5,000			5,000
			2015 Apr 1	By Balance b/d	5,000

Dr. Furniture Account Cr.
Date	Particulars	Amount(Rs.)	Date	Particulars	Amount
2015 Mar 7	To Cash A/c	300	2015 Mar 31	By Balance c/d	300
		300			300
2015 Apr 1	To Balance b/d	300

Dr. Interest Received Account Cr.
Date	Particulars	Amount(Rs.)	Date	Particulars	Amount
2015 Mar 31	To Balance b/d	1,800	2015 Mar 15	By Cash A/c	1,800
		1,800			1,800
			2015 Apr 1	By Balance b/d	1,800

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