Final Accounts of Sole Proprietors - II Important Questions from 12th

Everyone has the same aim that is to reach the top rank list. We are paving the way for you to reach your goal. Practice with important questions from all chapters and get set ready to crack your exams with confidence. It's nearing the examination and right time to grab the model question papers and practice for the board exams.

Here is the most important question paper for samacheer 11th Accountancy for the chapter Final Accounts of Sole Proprietors - II. The question paper is prepared based on the new samacheer syllabus. Get thorough knowledge in individual chapters helps you to score more. The question paper is created with value-added questions.

It's the right time to grab chapter wise model question papers and practice for the exams. By practicing repeatedly you will get the idea of answering the questions and this improves the speed of answering. This will save the time and you can complete all the questions without any tension. Get more model question papers and practice for HSC +1 Accountancy examination.

In this question paper, all the important questions from Plus one Accountancy for the chapter Final Accounts of Sole Proprietors - II are included. Not only with book back questions, but also included creative questions as well. HSC Board Exams are fast approaching and students are getting anxious about how to prepare for their HSC Board Exams. The latest sample papers have been designed as per the latest syllabus and examination trends.

Download Tamil Nadu 11th 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.

Debit balances	Amount Rs.	Credit balances	Amount Rs.
Drawings	1,800	Capital	80,000
Buildings	15,000	General reserve	20,000
Furniture & Fittings	7,500	Loan from Hari @ 6%	15,000
Computer	25,000	Sales	1,00,000
Interest on loan	900	Commission received	7,500
Loose tools	6,100	Sundry creditors	10,000
Purchases	75,000
Stock on 1-4-2011	25,000
General expenses	15,000
Freight inward	2,000
Freight outward	1,000
Sundry debtors	28,000
Bank	20,200
Goodwill	10,000
	2,32,500		2,32,500

Particulars	Debit Rs.
Sundry debtors	52,000
Bad debts	1,000

Date	Particulars		Debit Rs.	Credit Rs.
(a)	Interest on loan A/c	Dr.	5,000
	To Interest on loan outstanding A/c (Interest on loan outstanding)			5,000
(b)	Depreciation A/c	Dr.	2,500
	To Furniture A/c (Depreciation on furniture 50,000 x 5/100)			2,500
(c)	Bad debts A/c	Dr.	3,000
	To Sundry debtors A/c (Being write off Bad debts)			3,000
(d)	Profit and Loss A/c	Dr.	20,000
	To Provision for bad and doubtful debts A/c (Provision for Bad and doubtful debts 49,000 x 5/100)			20,000
(e)	Provision for discount on creditor A/c	Dr.	7,000
	To Profit 'and loss A/c (Provision for discount on creditors 3,50,000 x 2/100)			7,000

Date	Particulars	Debit Rs	Credit Rs
2017	Salaries A/c Dr.	1,200
Dec. 31	To Outstanding salaries A/c		1,200
	(Salaries outstanding provided)
Dec. 31	Rent A/c Dr.	300
	To Outstanding rent A/c		300
	(Provided for rent outstanding)
Dec. 31	Prepaid insurance premium A/c Dr.	450
	To Insurance premium A/c		450
	(Insurance prepaid)
Dec. 31	Accrued Interest on investment A/c Dr.	400
	To Interest on investment A/c		400
	(Provided for interest accrued)
Dec. 31	Bad debts A/c Dr.	200
	To Sundry debtors A/c		200
	(Bad debts written off)

Particulars	Amount Rs.	Amount Rs.	Particulars	Amount Rs.
To Opening stock		25,000	By Sales	1,00,000
To Purchases		75,000	By Closing stock	32,000
To Freight inward		2,000
To Gross profit c/d		30,000
(Transferred to profit and loss account)
		1,32,000		1,32,000
To Interest on loan		900	By Gross profit b/d	30,000
To General expenses		15,000	(Transferred from trading account)
To Freight outward		1,000
To Provision for bad and doubtful debt @ 5%			By Commission received	7,500
		1,400	By Interest on Drawings	108
To Provision for discount on debtors 2%		532	[1800 x \(\frac{6}{100}\)]
To Interest on Capital		6,400
[80,000 x \(\frac{8}{100}\)]
To Depreciation on
Computer [25,000 x \(\frac{10}{100}\)]	2,500
Building [15,000 x \(\frac{5}{100}\)]	750
Furniture and fittings [75,000 x \(\frac{10}{100}\)]	750	4,000
To Net profit (To be transferred to capital account)
		37,608		37,608

Final Accounts of Sole Proprietors - II Important Questions from 12th

QB365 Student Learing Managemnet System

Std: 11th Standard - Accountancy

chapter: - Model Question paper

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

Questions:

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

Answers Key:

NEW MCQ Practice Test - Tamilnadu Stateboard Class 11

Accountancy Tamilnadu Stateboard Class 11 MCQ Practice Test

Tamilnadu Stateboard Class 11 MCQ Practice Test

11th Standard Study Materials

Liabilities	Amount Rs.	Amount Rs.	Assets	Amount Rs.	Amount Rs.
Capital	80,000		Cash at Bank		20,200
Add: Net profit	8,376		Sundry debtors	28,000
	88,376		Less: Provision for bad and
Add: Interest on Capital			doubtful debts @ 5%	1,400
@ 8%	6,400			26,600
	94,776		Less.: Provision for discount
Less: Drawings	1,800		on debtors @ 2%	532	26,068
	92,976		Buildings	15,000
Less: Interest on drawings			Less: Depreciation @ 5%	750	14,250
@ 6%	108	92,868	Furniture and fittings	7,500
Sundry creditors		10,000	Less: Depreciation @ 10%	750	6,750
Loan from Hari @ 6%		15,000	Computer	25,000
General reserve		20,000	Less: Depreciation @ 10%	2,500	22,500
			Loose Tools		6,100
			Goodwill		10,000
			Closing stock		32,000
		1,37,868			1,37,868

Date	Particulars	Debit Rs.	Credit Rs.
2016	Bad debts A/c Dr.	2,000
March 31	To Sundry debtors A/c		2,000
	(Bad debts written off)
March 31	Profit and Loss A/c Dr.	2,500
	To Provision for bad and doubtful debts A/c		2,500
	(Provision for bad and doubtful debts created)

Particulars	Rs.	Rs.
To Bad debts	1,000
Add: Additional bad debts	2,000	3,000
To Provision for bad and
doubtful debtsv		2,500

Assets	Rs.	Rs.
Sundry debtors	52,000
Less: Additional bad debts	2,000
	50,000
Less: Provision for bad and doubtful debts	2,500	47,500

Date	Particulars		L.F.	Debit Rs.	Credit Rs.
	Depreciation A/c	Dr.		2,500
	To Machinery A/c (Depreciation provided 10% on machinery at Rs.25,000)				2,500