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Published on: 02/06/2021
QB365 provides detailed and simple solution for every Book back Questions in class 12 Accountancy Subject. It will helps to get more idea about question pattern in every book back questions with solution.
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Questions + Answers key
Take MCQ Accountancy Test

1.
What is a statement of affairs?
2.
What is meant by incomplete records?
3.
From the following particulars, prepare bills receivable account and compute the bills received from the debtors
| Particulars | Rs |
|---|---|
| Opening bills receivable | 20,000 |
| Closing bills receivable | 30,000 |
| Cash received for bills receivable | 60,000 |
| Bills receivable dishonoured | 5,000 |
4.
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 |
5.
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 |
1.
A Statement of affairs is a Statement showing the assets and liabilities on a particular date. The balance of assets show on the right side and the balance of liabilities on the left side. This Statement resembles a balance Sheet the difference between the total of assets and total of liabilities is taken as Capital.
Capitals = Assets - Liabilities
2.
(i) When accounting records are not strictly maintained according to double entry system, these records are called as incomplete accounting records.
(ii) Generally, cash account and the personal accounts of customers and creditors are maintained fully and other accounts are maintained based on necessity.
3.
| Particulars | Rs | Particulars | Rs |
|---|---|---|---|
| To Balance b/d | 20,000 | By Cash A/c | 60,000 |
| To Debtors A/c | 75,000 | By Debtors A/c | 5,000 |
| (Bills received during the year – balancing figure) |
(Bills receivable dishonoured) | ||
| By Balance c/d | 30,000 | ||
| 95,000 | 95,000 |
4.
| 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 |
5.
| 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 |
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Tamilnadu Stateboard 12th Standard Subjects

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Business Maths and Statistics

Economics

Commerce

Accountancy

History

Computer Applications

Biology

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Computer Applications

Computer Science

Business Maths and Statistics

Commerce

Economics

Maths

Chemistry

Physics

Computer Technology

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Accountancy

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