12th Standard English Medium Accountancy Subject Accounts From Incomplete Records Book Back 5 Mark Questions with Solution Part - I | QB365

12th Standard Syllabus & Materials

12th Standard

TN 12th English Poem - 6 - Incident of the French Camp Sample Question Papers Study Material - QB365 Set A

NEW

12th Standard

TN 12th English Prose - 6 - On the Rule of the Road Sample Question Papers Study Material - QB365 Set A

NEW

12th Standard

TN 12th English Prose - 5 - The Chair Sample Question Papers Study Material - QB365 Set A

NEW

12th Standard

TN 12th English Supplementary - 4 - The Midnight Visitor Sample Question Papers Study Material - QB365 Set A

NEW

12th Standard

TN 12th English Poem - 4 - Ulysses Sample Question Papers Study Material - QB365 Set A

NEW

12th Standard

TN 12th English Prose - 4 - The Summit Sample Question Papers Study Material - QB365 Set A

12th Standard English Medium Accountancy Subject Accounts From Incomplete Records Book Back 5 Mark Questions with Solution Part - I

Published on: 03/06/2021

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.

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.

Questions + Answers key

Take MCQ Accountancy Test

QB365 Student Learing Managemnet System

Std: 12th Standard - Accountancy

chapter: - Book back Questions

Visit QB365-SLMS - https://www.qb365.in/slms/ Complete Questions and Answers

Questions:

Generic 5

5 x 5 = 25

Selvam does not keep his books under double entry system. From the following information prepare trading and Profit and loss A/c and Balance Sheet as on 31-12-2018

Particulars	1-1-2018 Rs.	31-12-2018 Rs.
Machinery	60,000	60,000
Cash at bank	25,000	33,000
Sundry debtors	70,000	1,00,000
Stock	45,000	22,000
Bills receivable	20,000	38,000
Bank loan	45,000	45,000
Sundry creditors	25,000	21,000

Particulars	Rs.	Particulars	Rs.
Cash sales	20,000	Credit sales	1,80,000
Cash purchases	8,000	Credit purchases	52,000
Wages	6,000	Salaries	23,500
Advertisement	7,000	Interest on bank loan	4,500
Drawings	60,000	Additional capital	21,000

Adjustments:
Write off depreciation of 10% on machinery. Create a reserve of 1% on debtors for doubtful debts.

Mary does not keep her books under double entry system. From the following details prepare trading and profit and loss account for the year ending 31^st March, 2019 and a balance sheet as on that date.
Dr. Cash Book Cr. Particulars Rs. Particulars Rs. To Balance b/d 1,20,000 By Purchases 1,50,000 To Sales 3,60,000 By Creditors 2,50,000 To Debtors 3,40,000 By Wages 70,000 By Sundry expenses 1,27,000 By Balance c/d 2,23,000 8,20,000 8,20,000 Other information
Particulars 1.4.2018 31.3.2019 Stock of goods 1,10,000 1,80,000 Sundry Debtors 1,30,000 ? Sundry Creditors 1,60,000 90,000 Furniture and fittings 80,000 80,000 Additional information
Credit purchases 1,80,000
Credit sales 2,90,000
Opening capital 2,80,000
Depreciate furniture and fittings by 10% p.a.

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	Rs.	Particulars	Rs.
Balances as on 1st April 2018		Balances as on 31st March 2019
Sundry debtors	2,40,000	Sundry debtors	2,20,000
Bills receivable	30,000	Sundry creditors	1,50,000
Sundry creditors	1,20,000	Bills receivable	8,000
Bills payable	10,000	Bills payable	20,000
Other information	Rs.
Cash received from debtors	6,00,000	Payments against bill payable	30,000
Discount allowed to customers	25,000	Cash received for bills receivable	60,000
Cash paid to creditors	3,20,000	Bills receivable dishonoured	4,000
Discount allowed by suppliers	10,000	Bad debts	16,000

Pandian does not keep his books under double entry system. From the following information prepare trading and profit and loss account

	1-1-2018 Rs.	31-12-2018 Rs.
Furniture	30,000	30,000
Cash in hand	10,000	17,000
Debtors	40,000	60,000
Stock	28,000	11,000
Bills receivable	12,000	35,100
Bank loan	25,000	25,000
Creditors	15,000	16,000

	Rs.		Rs.
Cash sales	11,200	Credit sales	88,800
Cash purchases	4,250	Credit purchases	35,750
Carriage on purchases	3,000	Carriage on sales	700
Commission received	600	Interest on bank loan	2,500
Drawings	8,000	Additional capital	14,000
Salaries	8,900	Office rent	2,400

Adjustments:
Write off depreciation of 5% on furniture. Create a provision of 1% on debtors for doubtful debts.

Bharathi does not maintain her books of accounts under double entry system. From the following details prepare trading and profit and loss account for the year ending 31^st March, 2019 and a balance sheet as on that date.

**Dr. Cash Book Cr.**
Receipts	Rs.	Payments	Rs.
To balance b/d	32,000	By Purchases A/c	56,000
To Sales A/c	1,60,000	By Creditors A/c	80,000
To Debtors A/c	1,20,000	By General expenses A/c	24,000
		By Wages A/c	10,000
		By Balance c/d	1,42,000
	3,12,000		3,12,000

Other Information:

Particulars	1.4.2018 Rs.	31.3.2019 Rs.
Stock of goods	40,000	60,000
Debtors	38,000	?
Creditors	58,000	52,000
Machinery	1,70,000	1,70,000

Additional information:	Rs
(i) Credit purchases	74,000
(ii) Credit sales	1,40,000
(iii) Opening capital	2,22,000
(iv) Depreciate machinery by 10% p.a.

Visit QB365-SLMS - https://www.qb365.in/slms/

Answers Key:

Generic 5

5 x 5 = 25

In the books of selvam Statement of affairs as on
1^st January 2018
Liabilities	Rs.	Assets	Rs.
Bank Loan	45,000	Machinery	60,000
Sundry creditors	25,000	Cash at bank	25,000
Opening capital	1,50,000	Sundry debtors	70,000
(Balancing figure)		Stock	45,000
		Bills receivable	20,000
	2,20,000		2,20,000

**Dr Bills receivable account Cr**
Particulars	Rs.	Rs.	Assets	Rs.	Rs.
To Opening stock		45,000	By Sales
To Purchase			Cash	20,000
Cash	8,000		Credit	1,80,000	2,00,000
Credit	52,000	60,000	By Closing stock		22,000
To Wages		6,000
To Gross profit c/d		1,11,000
		2,22,000			2,22,000
To Advertisement		7,000	By Gross profit b/d		1,11,000
To Salaries		23,500
To Depreciation 10%		6,000
To Reserve on debtors 1 %		1,000
To Interest on bank loan		4,500
To Net profit transfered to capital alc		69,000
		1,11,000			1,11,000

**Balance sheet as on 31st December 2018**
Liabilities	Rs.	Rs.	Assets	Rs.	Rs.
Bank loan		45,000	Machinery	60,000
Sundry creditors		21,000	Less: Depreciation 10%	6,000	54,000
Capital	1,50,000		Cash at bank		33,000
Add: Net profit	69,000		Sundry debtors	1,00,000
	2,19,000		Less: Reserve for doubtful		99,000
Add: Additional			debts	1,000
capital	21,000		Closing stock		22,000
	2,40,000		Bills receivable		38,000
Less: Drawings	60,000	1,80,000
		2,46,000			2,46,000

Dr. In the books of Mary Total Debtors account Cr. Particulars Rs. Particulars Rs To Balance b/d 1,30,000 By Cash (received) 3,40,000 To Sales (Credit) 2,90,000 By Balance c/d 80,000 (balancing figure) 4,20,000 4,20,000 To Balance b/d 80,000 Dr. Trading and Profit and loss account for the year ended 31^st March 2019 Cr. Particulars Rs. Rs. Particulars Rs. Rs To Opening stock 1,10,000 By Sales To Purchases Cash 3,60,000 Cash 1,50,000 Credit 2,90,000 6,50,000 Credit 1,80,000 3,30,000 By Closing stock 1,80,000 To Wages 70,000 To Gross profit c/d 3,20,000 8,30,000 8,30,000 To Sundry expenses 1,27,000 By Gross profits b/d 3,20,000 To Depreciation on machinery 10% 8,000 To Net profit transfered to capital a/c 1,85,000 3,20,000 3,20,000 Balance sheet as on 31^st March 2019 Liabilities Rs. Rs. Assets Rs. Rs Capital 2,80,000 Cash 2,23,000 Add: Net profit 1,85,000 4,65,000 Stock of goods 1,80,000 Debtors 80,000 Creditors 90,000 Furniture and fittings 80,000 Less: Depreciation 8,000 72,000 5,55,000 5,55,000

Dr Bills receivable account Cr
Particulars	Rs.	Particulars	Rs
To Balance b/d	30,000	By Cash	60,000
To Debtors	42,000	By Debtors	4,000
(Bills received - balancing figure)		(Bills receivable dishonoured) By Balance c/d	8,000
	72,000		72,000

Dr Total Debtors account Cr
Particulars	Rs.	Particulars	Rs
To Balance b/d	2,40,000	By Cash received	6,00,000
To Bills receivable	4,000	By Discount allowed	25,000
(dishonored)		By Bad debts	16,000
To Sales (credit)	6,59,000	By Bills receivable	42,000
(balancing figure)		(bills received)
		By Balance c/d	2,20,000
	9,03,000		9,03,000

Dr Bills payable account Cr
Particulars	Rs.	Particulars	Rs
To Cash (Bills paid)	30,000	By Balance b/d	10,000
To Balance c/d	20,000	By Sundry creditors	40,000
		(Bills accepted balancing figure)
	50,000		50,000

Dr Total Creditors account Cr
Particulars	Rs.	Particulars	Rs
To Cash (paid)	3,20,000	By Balance b/d	1,20,000
To Discount received	10,000	By purchases (credit)	4,00,000
To Bills payable	40,000	(balancing figure)
(Bills accepted)
To Balance c/d	1,50,000
	5,20,000		5,20,000

**In the books of Pandian Statement of affairs as on 1^st January, 2018**
Liabilities	Rs.	Assets	Rs.
Creditors	15,000	Cash in hand	10,000
Bank loan	25,000	Stock	28,000
Opening capital	80,000	Debtors	40,000
(balancing figure)		Bills receivable	12,000
		Furniture	30,000
	1,20,000		1,20,000

**Dr. Trading and Profit and Loss Account for the year ended 31^st December, 2018 Cr.**
Particulars		Rs.	Particulars		Rs.
To Opening stock		28,000	By Sales
To Purchases			Cash	11,200
Cash	4,250		Credit	88,800	1,00,000
Credit	35,750	40,000	By Closing stock		11,000
To Gross profit c/d		40,000
		1,11,000			1,11,000
To Salaries		8,900	By Gross Profit b/d		40,000
To Carriage on sales		700	By Commission received		600
To Office rent		2,400
To Interest on bank loan		2,500
To Depreciation on furniture		1,500
To Provision for doubtful debts		600
To Net profit transferred to capital a/c		24,000
		40,600			40,600

**Balance Sheet as on 31^st December, 2018**
Liabilities	Rs.	Rs.	Assets	Rs.	Rs.
Capital	80,000		Cash in hand		17,000
Add: Net profit	24,000		Stock		11,000
	1,04,000		Debtors	60,000
Add: Additional capital	14,000		Less: Provision for doubtful debts	600	59,400
	1,18,000		Bills receivable		35,100
Less: Drawings	8,000	1,10,000	Furniture	30,000
Bank loan		25,000	Less: Depreciation	1,500	28,500
Creditors		16,000
		1,51,000			1,51,000

Dr. In the books of Bharathi
Total debtors account Cr.
Particulars	Rs.	Particulars	Rs.
To Balance b/d	38,000	By Cash A/c (received)	1,20,000
To Sales A/c (credit)	1,40,000	By Balance c/d (balancing figure)	58,000
	1,78,000		1,78,000
To Balance b/d	58,000

**Dr. Trading and Profit and Loss Account for the year ended 31st March, 2019 Cr.**
Particulars		Rs.	Particulars		Rs.
To Opening stock		40,000	By Sales
To Purchases			Cash	1,60,000
Cash	56,000		Credit	1,40,000	3,00,000
Credit	74,000	1,30,000	By Closing stock		60,000
To Wages		10,000
To Gross profit c/d		1,80,000
		3,60,000			3,60,000
To General expenses		24,000	By Gross profit b/d		1,80,000
To Depreciation on machinery		17,000
To Net profit transferred to capital a/c		1,39,000
		1,80,000			1,80,000

**Balance Sheet as on 31st March, 2019**
Liabilities	Rs.	Rs.	Assets	Rs.	Rs.
Capital	2,22,000		Cash		1,42,000
Add: Net profit	1,39,000	3,61,000	Stock of goods		60,000
Creditors		52,000	Debtors		58,000
			Machinery	1,70,000
			Less: Depreciation	17,000	1,53,000
		4,13,000			4,13,000