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NCS/SA-1st/11-12/XI/Account/120

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FIRST SUMMATIVE ASSESSMENT : 2011-12

Subject : ACCOUNTANCY Time : 3 hrs. General Instructions : 1. 2. 3. All questions are compulsory. Marks are indicated against each questions. Work should be neats & clean. 1 1 Class : XIth M.M. : 100

Q.1 What is meant by 'Accounting' ? Q.2 Give two examples of current assets ?

Q.4 State two kinds of transactions that Increase and Decrease Capital. Q.5 Define posting.

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Q.3 What is the formula of Accounting Equation ?

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Q.6 Cash paid to creditor Rs. 1,000 in full sattlement of Rs. 1,050. In which account will you place the difference in amount and at what side ? 1 Q.7 What are special purpose books ? Give at least two name of such books. 1 1

Q.8 For what purpose Petty Cash Book is prepared ?

Q.9 Purchase furniture and issued a cheque for Rs. 8,000. Where will you

(i)

Financial Accounting 3 3

(ii) Cost Accounting Q.11 Distinguish between Journal and Ledger.

Q.12 Give three reasons that cause the difference between Bank Balances as per Pass Book and Bank Balance as per Cash Book. 3
Cont......

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Q.10 Explain the following branches of accounting :

place this transaction while preparing double column Cash Book ?

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Q.13 Identify the category the following accounts : (a) RentA/c (c) Capital A/c (e) Machinery A/c (b) Drawing A/c (d) Discount A/c (f) Computer A/c 3

Q.14 State three rules of debit and credit as per double entry system.

Q.15 Ram, who owes us Rs. 20,000 declared insolvent and only 25 Paisa in a rupee has been received from him. 3 Record Journal Entry (Ignore Date) Q.16 Show the following transactions by way of Accounting equation :

(ii) Purchased furniture on credit Rs. 20,000.

(iii) Sold goods on credit [cost Rs. 24,000] at 20% profit. (iv) Cash paid to creditors Rs. 19,900 in full settlement. Q.17 Explain objectives of accounting.

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(i)

Commenced business with cash Rs. 1,50,000 & stock Rs. 1,20,000.

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Q.18 Prepare an Analytical Petty Cash Book with the help of following transactions : 2009 June 1 June 3 June 5 June 7 June 10 June 13 June 15 June 18 June 20 6

Received imprest amount from head cashier

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Rs. 500 Rs. 30 Rs. 40 Rs. 70 Rs. 25 Rs. 35 Rs. 15 Rs. 50 Rs. 100

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Paid for stationery Paid for carriage Photostating charges

Refreshment to customers Courier charges Envelops purchased Taxi fare Wages to cleaner

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June 23 June 25 June 28 June 30

Tanga Hire Carriage Freight STD charges

Rs. 20 Rs. 50 Rs. 30 Rs. 10 6

Q.19 Give Journal entries for the following :

(a) Paid Rs. 500 in cash as wages on installation of a new machine. (b) Goods worth Rs. 500 were used by the proprietor for domestic pupose. (c) Goods worth Rs. 3,000 were destroyed by fire. (d) Received cash from a debtor, which were written off a Bad debts last year Rs. 700.

(e) Charge depreciation on machine Rs. 5,00,000 (@ 10% p.a.). (f) Goods worth Rs. 500 given as charity.

following, write up their Purchases Book for Jan. 2010.

50 pieces shirting @ Rs. 100 per piece trade discount 2%. Jan. 8 Purchased for cash from M/s Ambika mills.

Jan. 15

Jan. 20

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50 pieces shirts @ Rs. 120 per piece. Purchased on credit from M/s Arvind Mills. 20 pieces of coating @ Rs. 1,000 per pieces. 10 pieces of shirting @ Rs. 90 per piece. Trade discount 2% Purchased office Typewriter Rs. 2,000.

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100 pieces long cloth @ Rs. 80 per piece.

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Jan. 3

Purchased on credit from M/s Birla Mills.

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Q.20 Verma Bros. carry on business as wholesale cloth dealers. From the

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Q.21 Prepare necessary ledger accounts with the help of 'Purchase Book' prepared as per Q. No. 22. Q.22 From the following information prepare Return Inward Book : 2007 March 1 Mathur Bros., returned to us : 5 pairs of shoes for being defective @ Rs. 500 per pair. Less :- T.D. 10% March 12 Baluja Shoes Company, returned : Ladies shoes Rs. 200 per pair. 6

100 pairs of BSC Canvas Shoes @ Rs. 175 per pair. March 27 Sethi Bros. returned :

10 pairs of school shoes @ Rs. 250 per pair. Trade discount 3% 6

Q.23 With help of following, prepare a Bank Reconciliation Statement as on 30th June 1997.

(a) Bank overdraft as per Cash Book on 30th June 1997 Rs. 1,10,450. (b) Cheques issued in 20th June 1997 but not yet presented for payment

(c) Cheques sent to Bank in June 1997 but not yet credited in Bank Rs. 22,750. (d) Interest debited by Bank on 27th June 1997 but no information received from Bank till 30th June 1997. (e) On 1st July 1997, it was discovered the Bank had wrongly debited our account with Rs. 5,000. 6

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Rs. 15,000.

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March 15

Returned to Bata Shoes Pvt. Ltd.

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Q.24 Make out Double Column Cash Book with the help of following transactions :1998 April 1 April 1 April 3 . April 5 Cash in hand Rs. 3000. Cash at Bank (Cr.) Rs. 4500. Paid salaries for March 1998 Rs. 2500 Purchased goods Rs. 1300; out of which Rs. 1100 paid by a cheque. April 8 Cash sales Rs. 8000 out of which Rs. 5000 deposited into 12

April 10

Issued a cheque in favour of Krishna & Company to settle

April 15 April 17

Cheque received on 12th April, sent to Bank for collection.

into Bank on the same day.

April 23 April 25 April 30

Cheque of Ali Bros. dishonoured.

Bank charges Rs. 20. Paid Rent by cheque Rs. 1000 12

Q.25 From the following transactions, prepare Journal : 1998 Jan. 1 Jan. 2 Rahul started business with cash Rs. 10,000. Paid cash into Bank Rs. 6,000.

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furniture Rs. 1500.

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April 20

Issued a cheque in favour of Ravi Bros. for purchase of

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Received cheque from Ali Bros. Rs. 2000 & Paid the same

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April 12

Received cheque from Dhavan & Company Rs. 2300.

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their accounts Rs. 2600.

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Bank on the same day.

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Jan. 3

Bought goods from M/s Singh & Company on credit Rs. 2,000.

Jan. 6 Jan. 8 Jan. 10 Jan. 12 Jan. 15 Jan. 18

Purchased furniture Rs. 200. Purchased office Typewriter Rs. 600 & paid by cheque. Paid for postage Rs. 15. Sold goods for cash Rs. 400. Sold goods on credit to M/s Sharda & Company Rs. 1,000. Paid to M/s Singh & Company Rs. 1,950 in full settlement of Rs. 2,000.

Jan. 26

Received cheque from M/s Sharda & Company in full

Jan. 31 Jan. 31 Jan. 31

Paid for electric charges Rs. 150.

Drew for private use Rs. 350.

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Paid Rent by cheque Rs. 200.

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cheque Rs. 975).

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settlement of amount due from them Rs. 1,000 (amount of

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Jan. 20

Sold goods to M/s Ray & Company Rs. 560.

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