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Published on: 18/07/2019
Download Tamil Nadu 12th 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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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.
From the following particulars ascertain profit or loss:
| Rs. | |
|---|---|
| Capital as on 1st April 2018 | 1,60,000 |
| Capital as on 31st March, 2019 | 1,50,000 |
| Additional capital introduced during the year | 25,000 |
| Drawings made during the year | 30,000 |
3.
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 |
4.
Which values are affected, when accounts are maintained on single entry system basis.
5.
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 |
6.
From the following details, calculate the missing figure
| Particulars | Rs. |
|---|---|
| Closing capital as on 31.3.2018 | 80,000 |
| Additional capital introduced during the year | 30,000 |
| Drawings during the year | 15,000 |
| Opening capital on 01.4.2017 | ? |
| Loss for the year ending 31.3.2018 | 25,000 |
7.
8.
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 | ? |
9.
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 |
10.
From the following details, calculate the missing figure
| Rs. | |
|---|---|
| Closing capital as on 31.3.2019 | 1,90,000 |
| Additional capital introduced during the year | 50,000 |
| Drawings during the year | 30,000 |
| Opening capital on 1.4.2018 | ? |
| Loss for the year ending 31.3.2019 | 40,000 |
11.
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.
12.
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 |
13.
Ahmed does not keep proper books of accounts. Find the profit or loss made by him for the year ending 31st March, 2018.
| Particulars | 1.4.2017 Rs |
31.3.2018 Rs |
|---|---|---|
| Bank balance | 14,000 (Cr.) | 18,000 (Dr.) |
| Cash in hand | 800 | 1,500 |
| Stock | 12,000 | 16,000 |
| Debtors | 34,000 | 30,000 |
| Plant | 80,000 | 80,000 |
| 80,000 | 40,000 | 40,000 |
| Creditors | 60,000 | 72,000 |
Ahmed had withdrawn Rs. 40,000 for his personal use. He had introduced Rs.16,000 as capital for expansion of his business. A provision of 5% on debtors is to be made. Plant is to be depreciated at 10%.
14.
Credit sale is obtained from _________
Bills receivable account
Bills payable account
Total debtors account
Total creditors account
15.
Under the net worth method, the basis for ascertaining the profit is ________
the difference between the capital on two dates
the difference between the liabilities on two dates
the different between the gross assets on two dates
the difference between the gross profit on two dates
16.
A firm has assets worth Rs. 60,000 and capital Rs. 45,000.Then it's liabilities is _________
Rs. 45,000
Rs. 1,05,000
Rs. 60,000
Rs. 15,000
17.
The total assets of a proprietor are Rs. 5,00,000. His liabilities Rs. 3,50,000. Then his capital in the business is ____________
Rs. 8,50,000
Rs. 1,50,000
Rs. 3,50,000
Rs. 4,25,000
18.
The different between the total of assets and total of liabilities is taken as __________
drawings
capital
profit
loss
19.
Which of the following items relating to bills payable is transferred to total creditors account?
Opening balance of bills payable
Closing balance of bills payable
Bills payable accepted during the year
Cash paid for bills payable
20.
21.
Opening statement of affairs is usually prepared to find out the
Capital in the beginning of the year
Capital at the end of the year
Profit made during the year
Loss occurred during the year
22.
Statement of affairs is a
Statement of income and expenditure
Statement of assets and liabilities
Summary of cash transactions
Summary of credit transactions
23.
Incomplete records are generally maintained by
A company
Government
Small sized sole trader business
Multinational enterprises
1.
| Particulars | Rs | Particulars | Rs |
|---|---|---|---|
| To Balance b/d | 40,000 | By Cash A/c (received) | 1,00,000 |
| To Sales A/c (credit) | 1,27,000 | By Discount allowed A/c | 5,000 |
| (balancing figure) | By Sales returns A/c | 2,000 | |
| By Balance c/d | 60,000 | ||
| 1,67,000 | 1,67,000 |
2.
| Particulars | Rs. |
|---|---|
| Closing capital (as on 31.3.2019) | 1,50,000 |
| Add: Drawings during the year | 30,000 |
Less: Additional capital introduced during the year |
1,80,000 |
| 25,000 | |
| Adjusted closing capital | 1,55,000 |
| Less: Opening capital (as on 1.4.2018) | 1,60,000 |
| Loss incurred during the year | (-) 5,000 |
3.
| Particulars | Rs. |
|---|---|
| Closing capital (as on 31.3.2017) | 3,50,000 40,000 |
| Add: Drawings during the year | |
| 3,90,000 | |
| Less: Additional capital introduced during the year | 70,000 |
| Adjusted closing capital | 3,20,000 2,00,000 |
| Less: Opening capital (as on 1.4.2016) | |
| Profit made during the year | 1,20,000 |
4.
Values being affected are
(i) Reliablility: Value of reliability is affected as accounts maintained on single entry system are less reliable as they are prepared from incomplete records.
(ii) Accuracy: Value of arithmetical accuracy is affected, as in single entry system, trial balance cannot be prepared which proves arithmetical accuracy of accounts.
5.
| Liabilities | Rs. | Assets | Rs |
|---|---|---|---|
| Creditors | 60,000 | Cash in hand | 70,000 |
| Bills payables | 10,000 | Stock | 80,000 |
| Capital | 3,30,000 | Bills receivables | 1,00,000 |
| (Balancing figure) | Debtors | 1,50,000 | |
| 4,00,000 | 4,00,000 |
Calculation of Profit
| Particulars | Rs. |
|---|---|
| Capital at the end | 3,30,000 |
| Add: Drawings | 60,000 |
| 3,90,000 | |
| Less: Additional capital | 20,000 |
| 3,70,000 | |
| Less: Opening capital | 1,80,000 |
| Profit for the year | 1,90,000 |
Values involved are
(i) Violating child labour act by employing 10 year old boy.
(ii) By providing good quality product she is promoting the welfare and health of society
(iii) By charging reasonable prices she is not indulged in profiteering.
6.
| Particulars | Rs. |
|---|---|
| Closing capital as on (31.03.2018) | 80,000 |
| Add : Drawings during the year | 15,000 |
| 95,000 | |
| Less: Additional capital introduced during the year | 30,000 |
| Adjusted closing capital | 65,000 |
| Less: Opening capital as on 01.04.2017 (B/F) | 90,000 |
| Loss for the year ending 31.03.2018 | 25,000 |
7.
8.
| Particulars | Rs |
|---|---|
| Closing capital (as on 31.3.2018) | 2,75,000 20,000 |
| Add: Drawings during the year (balancing figure) | |
| 2,95,000 30,000 |
|
| Less: Additional capital introduced during the year | |
| Adjusted closing capital | 2,65,000 2,50,000 |
| Less: Opening capital (as on 1.4.2017) | |
| Profit made during the year | 15,000 |
9.
| Particulars | Rs |
|---|---|
| Closing capital (as on 31.12.2018) (balancing figure) | 35,000 |
| Add: Drawings during the year (goods taken for personal us | 5,000 |
| 40,000 | |
| Less: Additional capital introduced during the year | 2,500 |
| Adjusted closing capital | 37,500 |
| Less: Opening capital (as on 1.1.2018) | 27,500 |
| Profit made during the year | 10,000 |
10.
| Particulars | Rs. |
|---|---|
| Closing capital (as on 31.3.2019) | 1,90,000 |
| Add: Drawings during the year | 30,000 |
| 2,20,000 50,000 |
|
| Less: Additional capital introduced during the year | |
| Adjusted closing capital | 1,70,000 2,10,000 |
| Less: Opening capital (as on 1.4.2018) (balancing figure) | |
| Loss for the year ending 31.3.2019 | (-) 40,000 |
11.
| Liabilities | Rs. | Assets | Rs. |
|---|---|---|---|
| Sundry creditors | 25,000 | Bank balance | 8,000 |
| Expenses outstanding | 1,000 | Stock | 80,000 |
| Closing capital (B/F) | 1,16,500 | Sundry debtors | 50,000 |
| Furniture | 2,500 | ||
| Cash in hand | 2,000 | ||
| 1,42,500 | 1,42,500 |
| Particulars | Rs. |
|---|---|
| Closing capital | 1,16,500 |
| Add: Drawings (1000 x 12) | 12,000 |
| 1,28,500 | |
| Less: Additional capital | 20,000 |
| Adjusted closing capital | 1,08,500 |
| Less: Opening capital | 1,20,000 |
| Loss for the year | 11,500 |
12.
| Particulars | Rs | Particulars | Rs |
|---|---|---|---|
| To Balance b/d | 5,000 | By Cash A/c | 14,000 |
| To Debtors A/c | 11,200 | By Debtors A/c | 1,200 |
| (Bills received - balancing figure ) |
(bills receivable dishonoured) By Balance c/d |
1,000 | |
| 16,200 | 16,200 |
| Particulars | Rs | Particulars | Rs |
|---|---|---|---|
| To Balance b/d | 60,000 | By Cash A/c (received) | 1,30,000 |
| To Bills receivable A/c (dishonoured) | 1,200 | By Discount allowed A/c | 5,500 |
| To Sales A/c (credit) | 1,44,000 | By Bad debts A/c | 3,500 |
| (balancing figure) | By Bills receivable A/c | 11,200 | |
| (bills received) By Balance c/d |
55,000 | ||
| 2,05,200 | 2,05,200 |
| Particulars | Rs | Particulars | Rs |
| To Cash A/c (bills paid) | 7,000 | By Balance b/d | 2,000 |
| To Balance c/d | 3,000 | By Sundry creditors A/c (bills accepted – balancing figure) |
|
| 8,000 | |||
| 10,000 | 10,000 |
| Particulars | Rs | Particulars | Rs |
|---|---|---|---|
| To Cash A/c (paid ) | 70,000 | By Balance b/d | 25,000 |
| To Discount received A/c | 3,500 | By Purchases A/c (credit) | 84,500 |
| To Bills payable A/c (bills accepted) | 8,000 | (balancing figure) | |
| To balance c/d | 28,000 | ||
| 1,09,500 | 1,09,500 |
13.
In the books of Ahmed
Calculation of opening capital
| Liabilities | Rs | Assets | Rs |
|---|---|---|---|
| Bank overdraft | 14,000 | Cash in hand | 800 |
| Creditors | 60,000 | Stock | 12,000 |
| Capital (balancing figure) | 92,800 | Debtors | 34,000 |
| Plant | 80,000 | ||
| Furniture | 40,000 | ||
| 1,66,800 | 1,66,800 |
Calculation of closing capital
| Liabilities | Rs | Assets | Rs | Rs |
|---|---|---|---|---|
| Creditors | 72,000 | Bank balance | 18,000 | |
| Capital (balancing figure) | 1,04,000 | Cash in hand | 1,500 | |
| Stock | 16,000 | |||
| Debtors | 30,000 | |||
| Less: Provision for doubtful | ||||
| debts @ 5% | 1,500 | 28,500 | ||
| Plant | 80,000 | |||
| Less: Depreciation | 8,000 | 72,000 | ||
| Furniture | 40,000 | |||
| 1,76,000 | 1,76,000 |
| Particulars | Rs |
|---|---|
| Closing capital as on 31.3.2018 | 1,04,000 |
| Add: Drawings during the year | 40,000 |
| 1,44,000 | |
| Less: Additional capital introduced during the year | 16,000 |
| Adjusted closing capital | 1,28,000 |
| Less: Opening capital as on 31.3.2017 | 92,800 |
| Profit for the year ending 31.3.2018 | 35,200 |
14.
(c)
Total debtors account
15.
(a)
the difference between the capital on two dates
16.
(d)
Rs. 15,000
17.
(b)
Rs. 1,50,000
18.
(b)
capital
19.
(c)
Bills payable accepted during the year
20.
(c)
21.
(a)
Capital in the beginning of the year
22.
(b)
Statement of assets and liabilities
23.
(c)
Small sized sole trader business
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