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11th Standard English Medium Accountancy Subject Book Back 5 Mark Questions with Solution Part - I

Published on: 09/06/2021

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Questions:

Generic 5

10 x 5 = 50

From the following transactions prepare three column cash book of Udhayakumar

2018	Particulars	Rs
Sep 1	Cash balance	25,000
1	Bank Balance (cr.)	13,070
3	Paid into bank	15,000
4	Received cash from Shyamala & Co... Discount allowed to them Rs. 120	9,380
10	Goods sold for cash	7,600
11	Cash purchases	11,750
12	Gave Padma a Cheque for Rs. 21,375 and was allowed a discount of	125
18	Purchased a printer by cheque	7,600
23	Received cash from Rajasekar Discount allowed to him Rs. 180	14,320

In the books of udhayakumar Three column cash book
				Amount Rs.							Amount Rs.
Date	Particluars	R.N	L.F	Discount Allowed	Cash	Bank	Date	Particluars	V.N	L.F	Discount Received	Cash	Bank
2018							2018
Sep. 1	To Balance b/d				25,000		Sep. 1	By Balance b/d					_______
3	To Cash A/c		C			______	3	By Bank A/c		C		15,000
4	To Shyamala & Co. A/c			120	9,380		11	By Purchases A/c				_____
10	A/c				7,600		12	A/c			125		21,375
23	__________			_______	14,320		18	By Padma A/c
30	To Rajasekar A/c					________	30	By Printer A/c				_____
	To Balance C/d							By Balance C/d
				300	56,300	42,045					125	56,300	42,045

Ramu Brothers purchased a machine on 1st July 2016 at a cost of Rs.14,000 and spent Rs.1,000 on its installation. The firm writes off depreciation at 10% of original cost every year. The books are closed on 31st December every year. Give journal entries and prepare machinery account and depreciation account for 2 years

Rectify the following journal entries
Particulars L.F. Dr. Rs Cr. Rs a Kumanan A/c Dr 10,000 To Cash A/c 10,000 (Salary paid to Kumanan) b Senguttuvan A/c Dr 6,000 To Cash A/c 6,000 (Rent paid to Senguttuvan) c Cash A/c Dr 2,000 To Sales A/c 2,000 (Furniture sold for cash) d Cash A/c Dr 10,000 To Kumararaja A/c 10,000 (Goods sold to Kumararaja for cash) e Manimaran A/c Dr 1,000 To Purchases A/c 1,000 (Goods taken by the proprietor Mr. Manimaran for his personal use)

From the following information, prepare trading account for the year ending 31st December 2017.

Particulars	Rs	Particulars	Rs
Opening stock	50,000	Dock charges on purchases	4,000
Cost of goods manufactured	12,000	Import duty on purchases	3,500
Cash purchases	60,000	Wages	11,000
Cash sales	85,000	Sales returns	3,000
Purchases returns	2,000	Credit purchases	35,000
Carriage inwards	4,000	Credit sales	60,000
Freight outwards	3,000	Other direct expenses	7,000
Coal and fuel	2,500

From the following information, prepare bank reconciliation statement as on 31^st December, 2017 to find out the balance as per bank statement.

Particulars	Rs
(i) Bank overdraft as per cash book	20,000
(ii) Cheques deposited but not yet credited	4,000
(iii) Cheque issued but not yet presented for payment	1,000
(iv) Rent collected by the bank as per standing instruction	500
(v) Interest on overdraft debited by bank	2,000
(vi) Amount wrongly debited by bank	300
(vii) Cheque issued on 30^th December 2017 dishonoured by the bank	5,000
(viii) A customer's cheque deposited in the bank dishonoured by bank not recorded in the book	2,000

Enter the following transactions in a single column cash book of Ramalingam for month of July, 2017.

	Particulars	Rs
July 1	Cash in hand	32,000
5	Received from Keerthana	5,000
6	Paid packing charges in cash	300
7	Cash purchases	12,400
8	Sold goods for cash	2,600
10	Paid salary to manager in cash	7,000
11	Paid to Bala	3,000
12	Purchased goods from Bose	2,500
24	Cash deposited into bank through CDM	4,000
27	Withdraw cash from bank	2,000
31	Paid office rent in cash	6,000

Prepare Anand's account from the following details.

2017 July		Rs
1	Credit balance of Anand's A/c	4,000
15	Amount paid to Anand	2,000
18	Goods purchased from Anand on credit	8,000
20	Paid to Anand	3,960
	Discount allowed by him	40
25	Goods purchased from Anand	5,000

Enter the following credit transactions in the purchases book of Manoharan, a Provisions Merchant.

2017 May 2	Bought from Vasu 100 bags of rice @ Rs. 800 per bag
May 8	Bought from Cheyyar Sugar Mills Ltd., 20 bags of sugar @ Rs. 2,600 Per bag
May 10	Bought from Ram Flour Mill, Coimbatore, 10 bags of wheat flour @ Rs. 750 per bag
May 15	Bought from Nilgiri Tea Co., Nilgiris, 15 cases of tea @ Rs. 900 per case
May 25	Bought from Sairam Coffee Works Ltd., 100 kgs of Coffee @ Rs. 190 per kg
May 29	Bought from X & Co. furniture worth Rs. 2,000

For the following transactions, show the effect on accounting equation.
(a) Raj Started business with cash Rs. 40,000
(b) Opened bank account with a deposit of Rs. 30,000
(c) Bought goods from Hari on credit for Rs. 12,000
(d) Raj withdrew cash for personal use Rs. 1,000
(e) Bought furniture by using debit card for Rs. 10,000
(f) Sold goods to Murugan and cash received Rs. 6,000
(g) Money withdrawn from bank for office use Rs. 1,000

10.

Prepare the trial balance from the following information:

Name of the account	Rs	Name of the account	Rs
Bank Loan	2,00,000	Purchases	1,80,000
Bills Payable	1,00,000	Sales	3,00,000
Stock	70,000	Debtors	4,00,00
Capital	2,50,000	Bank	2,00,000

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Answers Key:

Generic 5

10 x 5 = 50

In the books of udhayakumar Three column cash book
				Amount Rs							Amount Rs
Date	Particluars	R.N	L.F	Discount Allowed	Cash	Bank	Date	Particluars	V.N	L.F	Discount Received	Cash	Bank
2017							2017
Sep. 1	To Balance b/d				25,000		Sep. 1	By Balance b/d					13,070
3	To Cash A/c		C			15,000	3	By Bank A/c		C		15,000
4	To Shyamala & Co. A/c			120	9,380		11	By Purchases A/c				11,750
10	To Sales A/c				7,600		12	By Padma A/c			125		21,375
23	To Rajasekar A/c			180	14,320		30	By Printer A/c					7,600
30	To Balance C/d					27,045	30	By Balance c/d				29,550
				300	56,300	42,045					125	56,300	42,045

Cost of the asset = Purchase price + Installation cost
= 14,000 + 1,000 = Rs.15,000
Journal entries

Date	Particulars		Debit	Credit
2016	Machinery A/c	Dr	14,000
July 1	To Bank A/c			14,000
	(Machinery bought)
July 1	Machinery A/c	Dr	1,000
	To Bank A/c			1,000
	(Installation expenses on machinery incurred)
December 31	Depreciation A/c	Dr	750
	To Machinery A/c			750
	(15,000 × 10/100 × 6/12)
	(Depreciation provided)
December 31	Profit and Loss A/c Dr.	Dr	750
	To Depreciation A/c			750
	(Depreciation transferred to profit and loss account)
2017 December 31	Depreciation A/c (15,000 × 10/100)	Dr	1,500
	To Depreciation A/c			1,500
	(Depreciation transferred to profit and loss account)
December 31	Profit and Loss A/c	Dr	1,500
	To Depreciation A/c (Depreciation transferred to profit and loss account)			1,500

Ledgers

Dr Machinery Account Cr
Date	Particulars	Rs	Date	Particulars	Rs
2016			2016
July 1	To Cash A/c	15,000	Dec 31	By Depreciation A/c	750
				By Balance c/d	14,250
		15,000			15,000
2017	To Balance b/d	14,250	2017
Jan 1			Dec 31	By Depreciation A/c	1,500
				By Balance c/d	12,750
		14,250			14,250
2018
Jan 1	To Balance b/d	12,750

Dr. Depreciation Account Cr
Date	Particulars	Rs	Date	Particulars	Rs
2016			2016
Dec 31	To Machinery A/c	750	Dec 31	By Profit and Loss A/c	750
		750			750
2017			2017
Dec 31	To Machinery A/c	1,500	Dec 31	By Profit and Loss A/c	1,500
		1,500			1,500

Rectification of Errors S.No. Particulars L.F. Debit Rs Credit Rs (a) Salary A/c Dr. 10,000 To Kumanan A/c 10,000 (Correct of wrong debit to Kumanan's A/c for salary paid) (b) Rent A/c Dr. 6,000 To Senguttuvan A/c 6,000 (Correct of wrong debit to Senguttuvan's A/c for rent paid) (c) Cash A/c Dr. 2,000 To Furniture A/c 2,000 (Correct of wrong debit to cash A/c for furniture sold) (d) Cash A/c Dr. 10,000 To Sales A/c 10,000 (Correct of wrong credit to Kumarraja for cash sales) (e) Drawings A/c Dr. 1,000 To Purchases A/c 1,000 (Goods taken by the proprietor Mr. Manimaran for his personal use, now rectified)

Dr. Trading account for the year ended 31st December, 2017 Cr.
Particulars	Rs	Rs	Particulars	Rs	Rs
To Opening stock		50,000	By Sales:
To Cost of goods manufactured		12,000	Cash	85,000
			Credit	60,000
To Purchases:				1,45,000
Cash	60,000		Less: Sales returns	3,000	1,42,000
Credit	35,000		By Gross loss c/d		45,000
	95,000
Less: Purchases returns	2,000	93,000
To Carriage inwards		4,000
To Coal and fuel		2,500
To Dock charges on Purchases		4,000
To Import duty on Purchases		3,500
To Wages		11,000
To Other direct expenses		7,000
		1,87,000			1,87,000

Note: Freight outwards will not appear in trading account as it is not a direct expense.

Particulars	Amount Rs	Amount Rs
Bank overdraft as per cash book		20,000
Add: Cheque deposited but not yet credited	4,000
Interest on overdraft	2,000
Amount wrongly debited by bank	300
Cheque deposited but dishonoured	2,000	8,300
		28,300
Less: Cheques issued but not yet credited	1,000
Rent collected by bank	500
Cheque issued but dishonoured	5,000	6,500
Overdraft as per bank statement		21,800

Dr. In the Books of Ramalingam Cash Book (Single column) Cr.
Date	Receipts	Amount Rs	Date	Payments	Amount Rs
2017 July			2017 July
1	To Balance c/d	32,000	6	By Packing Charges A/c	300
5	To Keerthana A/c	5,000	7	By Purchases A/c	12,400
8	To Sales A/c	2,600	10	By Salary A/c	7,000
27	To Bank A/c	2,000	11	By Bala A/c	3,000
			24	By Bank A/c	4,000
			31	By Office rent A/c	6,000
			31	By Balance c/d	8,900
		41,600			41,600
Aug 1	To Balance b/d	8,900

Dr. Anand Account Cr.
Date	Particulars	Amount Rs	Date	Particulars	Amount Rs
2017 July 15	To Cash A/c	2,000	2017 July 01	By Cash A/c	4,000
20	To Cash A/c	4,000	18	By Purchases A/c	8,000
31	To Balance c/d	11,000	25	By Purchases A/c	5,000
		17,000			17,000
			2017 Aug 01	By Balance b/d	11,000

**In the Books of Manoharan Purchases Book**
Date	Particulars	Inward Invoice No.	L.F.	Amount
Date	Particulars	Inward Invoice No.	L.F.	Details	Total
2017 May 2	Vasu
	100 bags of Rice @ Rs. 800				80,000
	Goods purchased vide
May 8	Cheyyar Sugar Mills Ltd.,
	20 bags of Sugar @ Rs.2,600				52,000
May 10	Ram Flour Mill
	10 bags of wheat flour @ Rs. 750
May 15	Nilgiri Tea Co.,
	15 cases of tea @ Rs. 900				13,500
May 25	Sairam Coffee Works Ltd.,
	100 kgs. of Coffee @ Rs. 190				19,000
	Purchases A/c Dr.				1,72,000

29^th may 2017 transaction is purchase of an asset. Hence the transaction will not be recorded in the purchases book.

S.No	Transaction	Cash Rs.	Bank Rs.	Stock Rs.	Furniture Rs.	Total Assets Rs.	=	Total Liabilities Rs.	Capital Rs.	Creditors Rs.
a)	Started business with cash	+40,000							+40,000
	Balance	+40,000							+40,000
	Equation					+40,000	=	+40,000
b)	Deposited with Bank	-30,000	+30,000
	Balance	+10,000	+30,000						+40,000
	Equation					+40,000	=	+40,000
c)	Credit purchases			+12,000						+12,000
	Balance	+10,000	+30,000	+12,000	-				+40,000	+12,000
	Equation					+52,000	=	+52,000
d)	Cash with drawn for personal use	-1,000	-	-					-1,000
	Balance	+9,000	+30,000	+12,000					+39,000	+12,000
	Equation					+51,000	=	+51,000
e)	Furniture purchased		-10,000		+10,000
	Balance	+9,000	+20,000	+12,000	+10,000				+39,000	+12,000
	Equation					+51,000	=	+51,000
f)	Cash received	+6,000							+6,000
	Balance	+15,000	+20,000	+12,000	+10,000				+39,000	+12,000
	Equation					+51,000	=	+51,000
g)	Cash with drawn from bank	+1,000	-1,000
	Balance	+16,000	+19,000	+12,000	+10,000				+39,000	+12,000
	Equation					+51,000	=	+51,000

10.

Trial Balance

S.No	Name of account	Debit Balance	Credit Balance
1	Bank Loan		2,00,000
2	Bills Payable		1,00,000
3	Stock	70,000
4	Capital		2,50,000
5	Purchases	1,80,000
6	Sales		3,00,000
7	Debtors	4,00,000
8	Bank	2,00,000
	Total	8,50,000	8,50,000