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12th Standard Accountancy English Medium - Accounts From Incomplete Records 5 Mark Creative Question Paper and Answer Key 2022 - 2023

Published on: 30/08/2022

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Questions:

Generic 5

13 x 5 = 65

From the following particulars calculate total sales:

Particulars	Rs.
Opening debtors	3,00,000
Opening bills Receivable	80,000
Cash received from debtors	7,80,000
Cash received for bills receivable	1,80,000
Bills receivable dishonoured	20,000
Sales Return	80,000
Closing Bills Receivable	60,000
Closing debtors	2,60,000

Calculate Bills received from the Debtors. From the following information:

Particulars	Amt(Rs.)
Openning Bills Receivable	2,00,000
Closing Bills Receivable	3,00,000
Cash received for bills receivable	6,00,000
Bills receivable discounted	50,000

From the following details find out total sales :

Particulars	Amt(Rs.)
Debtors on 1^st April 10	1,00,000
Cash received from Debtors	3,00,000
Return Inwards	30,000
Bad debts	10,000
Debtors 31^st March 10	1,40,000
Cash Sales	2,40,000

Find out credit sales from the following:

Particulars	Amt(Rs.)
Debtors on 1^stJanuary. 2018	50,000
Cash received from the Debtors	80,000
Discount allowed to Debtors	2,000
Sales Return	5,000
Closing Sundry debtors	75,000

From the following particulars, calculate total sales.

Particulars	Rs.
Debtors on 1^st April 2017	1,50,000
Bills receivable on 1^st 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 31^st March 2018	30,000
Sundry Debtors on 31^st March 2018	1,30,000
Cash sales	2,00,000

From the following details of vijay who maintains incomplete records, prepare trading and profit and loss account for the year ended 31^st 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

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

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 31^st 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.

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

10.

From the following find out credit sales.

Particulars	Rs.
Opening sundry debtors	50,000
Cash received from sundry debtors	80,000
Discount allowed to sundry debtors	2,000
Sales returns	5,000
Closing sundry debtors	75,000

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.

Calculate the missing information:

Particulars	Rs.
Closing capital	32,000
Drawings	4,800
Additional capital	8,000
Profit made during the year	9,600

13.

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

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Answers Key:

Generic 5

13 x 5 = 65

Dr. Bils receivable A/c Rs.

Particulars	Rs.	Particulars	Rs.
To Balance b/d	80,000	By Cash	1,80,000
To Debtors A/c (B.F)	1,80,000	By Debtors	20,000
(Bills received during the year)		(Bills receivable dishonour )
(B.F)		By Balance c/d	60,000
	2,60,000		2,60,000

Dr. Total Debtors Account Cr.

Particulars	Rs.	Particulars	Rs.
To Balance b/d	3,00,000	By Cash	7,80,000
To Bills Receivable	20,000	By Sales return	80,000
(dishonoured)		By Billg receivable	1,80,000
To Sales A/c (credit)	9,80,000	(Bill received)
Balancing ftgure		By Balance c/d	2,50,000
	13,00,000		1,30,000

Total Sales = Cash sales + Credit sales
= Rs. 4,00,000 + 9,80,000
= Rs. 13,80,000
Bills received Rs. 1,80,000 ; Credit sales ( 9,80,000 ; Total sales Rs. 13,80,000

Particulars	Rs.	Particulars	Rs.
To Balance b/d	2,00,000	By Cash	600,000
To Debtors A/c	7,50,000	By Debtors A/c	50,000
Cash receivable for bills receivable
(Bills received during the		(B/R dishonoured)
year) (B.F)		By Balance cld	3;00,000
	9,50,000		95,000

Bills received Rs.7,50,000

Dr Total Debtors Account Cr.

Particulars	Rs.	Particulars	Rs.
To Balance b/d	1,00,000	By Cash A/c	3,00,000
To Sales (credit)	3,80,000	By Return inward A/c	30,000
(Balancing figure)		By Bad debts	10,000
		By Balance c/d	1,40,000
	4,80,000		4,80,000

Total sales = Cash sales + Credit sales
= 2,40,000 + 3,80,000
= 6,20,000

Dr. Sundry Debtors Account Cr.

Particulars	Rs.	Particulars	Rs.
To Balance b/d	50,000	By Cash received	80,000
To Credit sales	1,12,000	By Discount allowed	2,000
(balancing figures)		By Sales return	5,000
		By Balance c/d	75,000
	1,62,000		1,62,000

Credit sales Rs. 1,12,000

Dr. Bills payable account Cr.

Particulars	Rs.	Particulars	Rs.
To Balance	40,000	By Cash A/c	90,000
To Debtors A/c	90,000	By Debtors A/c	10,000
(Bills received during the		(Bills received receivable
year - balancing figure)		dishonoured)
		By Balance c/d	30,000
	1,30,000		1,30,000

Dr Total debtors Account Cr

Particulars	Rs.	Particulars	Rs.
To Balance b/d	1,50,000	ByCash A/c	3,90,000
To Bills receivable A/c
(dishonoured)	10,000	By Sales returns A/c	40,000
To Sales A/c (credit)		By Bills receivable A/c*	90,000
(balancing figure)	4,90,000	(bills received)
		Balance c/d	1,30,000
	6,50,000		6,50,000

Total Sales = Cash Sales + Credit Sales
= 2,00,000 + 4,90,000 = Rs. 6,90,000

Calculation of opening capital

Statement of affairs as on 1.4.2017
Liabilities	Rs.	Assets	Rs.
Sundry creditors	37,500	Furniture	2,500
Opening capital (B/F)	58,750	Cash	6,250
		Sundry Debtors	62,500
		Stock	25,000
	96,250		96,250

Dr. Total Debtors account Cr.
Liabilities	Rs.	Particulars	Rs.
To Balance b/d	62,500	By Cash received	1,35,000
To Credit Sales (B/F)	1,66,250	By Discount allowed	2,500
		By Sales returns	3,750
		By Balance c/d	87,500
	2,28,750		2,28,750

Dr. Total Creditors account Cr.
Liabilities	Rs.	Particulars	Rs.
To Cash paid	1,12,500	By Balance b/d	37,500
To Discount received	3,750	By Credit purchases (B/F)	1,23,750
To Purchase returns	1,250
To Balance c/d	43,750
	1,61,250		1,61,250

Trading and Profit and loss account for the year ended 31.3.2018
Particulars	Rs.	Rs.	Particulars	Rs.	Rs.
To Opening stock		25,000	By Sales	1,66,250
To Purchases	1,23,750		Less: Sales returns	3,750	1,62,500
Less: Purchase returns	1,250	1,22,500
			By Closing stock		12,500
To Gross profit c/d		27,500
		1,75,000			1,75,000
To Discount allowed		2,500	By Gross profits b/d		27,500
To Sundry expenses		8,750	By Discount received		3,750
To Depreciation		125
To Net profit		19,875
(Transferred to capital a/c)		31,250			31,250

Balance sheet as on 31.3.2018
Liabilities	Rs.	Rs.	Assets	Rs.	Rs.
Capital	58,750		Furniture	2,500
Add: Net profit	19,875		Less: Depreciation	125	2,375
	78,625		Cash		10,000
Less: Drawings	10,000	68,625	Sundry debtors		87,500
Sundry creditors		43,750	Closing stock		12,500
		1,12,375			1,12,375

Dr. Total Bills receivable account Cr.
Particulars	Rs.	Particulars	Rs.
To Balance b/d	30,000	By Cash	25,000
To Total Debtors	30,000	By Balance c/d	35,000
(Balancing figure)	60,000		60,000

Dr. Total Bills payable account Cr.
Particulars	Rs.	Particulars	Rs.
To Cash	40,000	By Balance b/d	45,000
To Balance c/d	50,000	By Total creditors	45,000
		(Balancing figure)
	90,000		90,000

Dr. Total Debtors account Cr.
Particulars	Rs.	Particulars	Rs.
To Balance b/d	40,000	By Bad debts	2,000
To Sales	1,79,000	By Return inwards	4,000
(balancing figure)		By Discount allowed	3,000
		By Cash	1,00,000
		By Bills receivable	30,000
		(Transfer from bills receivable account)
		By Balance c/d	80,000
	2,19,000		2,19,000

Dr. Total Creditors account Cr.
Particulars	Rs.	Particulars	Rs.
To Discount received	5,000	By Balance b/d	50,000
To Cash	80,000	By Purchases	1,20,000
To Bills payable	45,000	(credit)
(transfer from bills		(Balancing figure)
payable account)
To Balance c/d	40,000
	1,70,000		1,70,000

Statement of affairs as on 31^st December 2016
Liabilities	Rs.	Assets	Rs.
Bank overdraft	30,000	Cash in hand	6,000
Sundry creditors	26,000	Stock	50,000
Bills payable	6,000	Sundry Debtors	60,000
Capital (Balancing figure)	1,82,000	Furniture	40,000
		Bills receivable	8,000
		Machinery	50,000
		Investment	30,000
	2,44,000		2,44,000

Statement of affairs as on 31^st December 2017
Liabilities	Rs.	Assets	Rs.	Rs.
Sundry creditors	40,000	Cash in hand		24,000
Bills payable	12,000	Stock		80,000
Outstanding salary	2,400	Debtors	1,40,000
Capital (Balancing figure)	4,33,400	Less: Bad debts	2,000
			1,38,000
		Less: Provision @5%	6,900	1,31,100
		Furniture	60,000
		Less: Depreciation @10%	6,000	54,000
		Bills receivable		28,000
		Prepaid insurance		700
		Machinery	1,00,000
		Less: Depreciation @10%	10,000	90,000
		Investment		80,000
	4,87,800			4,87,800

Statement showing profit or loss for the year ending 31st December 2017
Particulars	Rs.
Capital at the end of the year	4,33,400
Add: Drawings during the year (10,000 x 12)	1,20,000
	5,53,400
Less: Additional capital introduced in the year	2,00,000
Adjusted closing capital	3,53,400
Less: Capital in the beginning of the year	1,82,000
Profit for the year 2017	1,71,400

Dr Total Debtors account Cr
Particulars	Rs.	Particulars	Rs.
To Cash paid	22,500	By Balance b/d	75,000
To Discount received	15,000	By Credit purchase (B/F)	60,000
To Purchase return	7,500
To Balance c/d	90,000
	1,35,000		1,35,000

10.

Dr Total Debtors account Cr
Particulars	Rs.	Particulars	Rs.
To Balance b/d	50,000	By Cash received	80,000
(opening debtors)		By Discount allowed	2,000
To Credit sales (B/F)	1,12,000	By Sales returns	5,000
		By Balance c/d	75,000
	1,62,000		1,62,000

11.

Statement of affairs as on 31^st March 2019
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

Statement of profit or loss
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.

Statement of profit or loss
Particulars	Rs.
Closing capital	32,000
Add: Drawings	4,800
	36,800
Less: Additional capital	8,000
Adjusted closing capital	28,800
Less: Opening capital [B/F]	19,200
Profit made during the year	9,600

13.

Statement of profit or loss
Particulars	Rs.
Closing capital	1,80,000
Add: Drawings	36,000
	2,16,000
Less: Additional capital	10,000
Adjusted closing capital	2,06,000
Less: Opening capital	1,06,000
Profit for the year	46,000