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Published on: 03/10/2019
Financial Statements of a Company
Download CBSE Class 12th Standard CBSE Accountancy question papers, sample papers, important questions, and previous year solved papers in PDF format. Get free study materials, NCERT solutions, and exam preparation resources for Class 12th Standard CBSE Accountancy
Questions + Answers key
Take MCQ Accountancy Test

1.
From the following information for the year ended 31st march, 2015, prepare notes to accounts on employees benefit expenses.
(a) Wages Rs 4,80,000
(b) Salaries Rs 7,20,000
(c) Entertainment expenses Rs 30,000
(d) Bonus Rs 1,00,000
(e) Gratuity paid Rs 2,40,000
(f) Conveyance expenses Rs 50,000
(g) Medical expenses Rs 80,000
2.
Compute cost of materials consumed from the following information.
Opening inventory of materials Rs 5,00,000, materials purchased Rs 40,00,000 and closing inventory of materials Rs 6,00,000.
3.
Calculate revenue from operations, other income and total revenue for a non-financial company from the following information
sales Rs 1,04,00,000 sales return Rs 4,00,000, sale of scrap Rs 50,000 interest on fixed deposits Rs 60,000 dividend earned Rs 20,000
4.
Compute cost of materials consumed from the following information.
Opening inventory of raw material Rs 3,00,000, opening inventory of work-in-progress Rs 4,00,000, raw material purchased Rs 30,00,000, closing inventory of raw material Rs 5,00,000 and closing inventory of work-in-progress Rs 3,00,000.
5.
Calculate cost of material consumed from the information given below
Opening inventory
Raw material Rs 1,25,000
Work-in-progress Rs 4,75,000
Finished goods Rs 2,25,000
Raw material purchased
during the year Rs 9,75,000
Closing inventory
Raw material Rs 3,15,000
Work-in-progress Rs 1,25,000
Finished goods Rs 4,75,000
6.
Calculate revenue from operations, other income and total revenue for a non-financial company from the following information. Sales Rs 50,40,000, sales return Rs 40,000, sale of scrap Rs 15,000, interest on fixed deposit Rs 5,000, dividend earned on shares of Agro Limited Rs 4,000.
1.
| Particulars | Year Ended 31st March.2015(Rs) |
|---|---|
| Employees Benefit Expenses | |
| Wages | 4,80,000 |
| Salaries | 7,20,000 |
| Bonus | 1,00,000 |
| Gratuity Paid | 2,40,000 |
| Medical Expenses | 80,000 |
| 16,20,000 |
2.
Cost of materials consumed=Opening inventory of materials+ Purchases - Closing inventory of materials
= Rs 5,00,000+Rs 40,00,000-Rs 6,00,000
= Rs 39,00,000.
3.
| Particulars | Amt(Rs) | |
|---|---|---|
| I.Revenue from Operations | ||
| Sales | 1,04,00,000 | |
| (-) Sales Return | (4,00,000) | 1,00,00,000 |
| Sale of Scrap | 50,000 | |
| 1,00,50,000 | ||
| II. Other Income | ||
| Interest on Fixed Deposits | 60,000 | |
| Divident Earned | 20,000 | 80,000 |
| III. Total Revenue(I+II) | 1,01,30,000 | |
4.
Cost of materials consumed=Opening inventory of raw material+Purchase of raw material-Closing inventory of raw material
= Rs 3,00,000+Rs 30,00,000-Rs 5,00,000
= Rs 28,00,000
5.
Cost of raw material consumed = Rs 7,85,500
6.
Revenue from operations = Rs 5,15,000 ;
Other income = Rs 9,000;
Total revenue = Rs 5,24,000
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