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    Abt - 3

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    dhruv
    This document contains an application based test for bookkeeping and accountancy. It includes 3 sections with multiple choice and calculation questions. Section A has true/false questions about charitable institutions preparing profit and loss accounts and income received in advance. Section B contains multiple choice questions about debit balances, expenditures, asset transfers, bill payment dates, and share forfeiture accounts. Section C requires calculations of prepaid rent, stationery consumption, bad debts, share premium, and new profit sharing ratios. The final question asks to prepare a specimen bill of exchange using provided transaction details.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Abt - 3

    Uploaded by

    dhruv
    19 views3 pages
    This document contains an application based test for bookkeeping and accountancy. It includes 3 sections with multiple choice and calculation questions. Section A has true/false questions about charitable institutions preparing profit and loss accounts and income received in advance. Section B contains multiple choice questions about debit balances, expenditures, asset transfers, bill payment dates, and share forfeiture accounts. Section C requires calculations of prepaid rent, stationery consumption, bad debts, share premium, and new profit sharing ratios. The final question asks to prepare a specimen bill of exchange using provided transaction details.

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    ABT - 3

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    This document contains an application based test for bookkeeping and accountancy. It includes 3 sections with multiple choice and calculation questions. Section A has true/false questions about charitable institutions preparing profit and loss accounts and income received in advance. Section B contains multiple choice questions about debit balances, expenditures, asset transfers, bill payment dates, and share forfeiture accounts. Section C requires calculations of prepaid rent, stationery consumption, bad debts, share premium, and new profit sharing ratios. The final question asks to prepare a specimen bill of exchange using provided transaction details.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    19 views3 pages

    Abt - 3

    Uploaded by

    dhruv
    This document contains an application based test for bookkeeping and accountancy. It includes 3 sections with multiple choice and calculation questions. Section A has true/false questions about charitable institutions preparing profit and loss accounts and income received in advance. Section B contains multiple choice questions about debit balances, expenditures, asset transfers, bill payment dates, and share forfeiture accounts. Section C requires calculations of prepaid rent, stationery consumption, bad debts, share premium, and new profit sharing ratios. The final question asks to prepare a specimen bill of exchange using provided transaction details.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 3

    NAME OF THE STUDENT……………………………………………DIV……ROLL NO...........

    SUPERVISOR’S SIGN:
    -
    Deccan Education Society’s MARKS
    BRIHAN MAHARASHTRA COLLEGE OF COMMERCE, PUNE. OBTAINED------------
    APPLICATION BASED TEST (2020-21)
    DATE: - /03/2021 BOOK-KEEPING AND ACCOUNTANCY STD XII
    TIME: - 1 HOUR MARKS-20

    Q.1. (A) State True or False with reasons [5] marks


    1) Charitable Institutions prepare Profit and Loss Account at the end of every financial year.
    Ans: -…………
    Reason…………………………………………………………………………………………
    …………………………………………………………………………………………………
    ……………………………………………………………………………………………….

    2) Income received in advance is a liability.


    Ans: -………….
    Reason…………………………………………………………………………………………
    …………………………………………………………………………………………………
    …………………………………………………………………………………………………

    (B) Select the correct option from the following. [5] marks
    1) A debit balance of partner’s current account will appear on the …………………… side of the
    Balance Sheet.
    a) Assets b) Liabilities c) Debit d) Credit
    _________________________________________________________________________

    ___________________________________________________________________________
    2) For a public hospital, expenditure on the purchase of medicines is a….…………Expenditure.
    a) General b) Non-recurring c) Capital d) Revenue

    _________________________________________________________________________

    ___________________________________________________________________________

    3) If the asset is taken over by the partner …………………. Account is debited.


    a) Revaluation b) Capital c) Assets d) Balance Sheet
    _________________________________________________________________________

    ___________________________________________________________________________

    4) A bill drawn on 12th June 2020 at two months would be payable on…………………...
    a) 12th August 2020 b) 15th August 2020 c) 13th August 2020 d) 16th August 2020
    _________________________________________________________________________

    1
    ___________________________________________________________________________

    5) The balance of Share Forfeiture A/c is transferred to ………………………..Account after re-


    issue of these share.
    a) Reserve Capital b) Capital Reserve c) Profit & Loss d) Share Capital
    _________________________________________________________________________

    ___________________________________________________________________________

    (C) Calculate the following [5] marks


    1) Rent is paid for the year ending 1st September 2019 amounted to ₹ 3600. Calculate prepaid
    insurance assuming that the year ending is 31st March 2019.

    ___________________________________________________________________________
    ___________________________________________________________________________
    ___________________________________________________________________________
    ___________________________________________________________________________
    ___________________________________________________________________________
    ___________________________________________________________________________
    ___________________________________________________________________________
    __________________________________________________________________________
    2) Opening stock of stationery ₹ 10000, Purchases of stationery ₹ 14000, Outstanding
    Stationery Bill ₹ 24000, Closing Stock of stationery ₹ 2000. What is the amount of
    stationery consumed?
    ___________________________________________________________________________
    ___________________________________________________________________________
    ___________________________________________________________________________
    ___________________________________________________________________________
    ___________________________________________________________________________
    ___________________________________________________________________________
    ___________________________________________________________________________
    __________________________________________________________________________

    3) Anita who had accepted Sunita’s bill for ₹ 45000 was declared bankrupt and only 30 paise
    in a rupee could be recovered from her estate. Calculate the amount of Bad debts.
    ___________________________________________________________________________
    ___________________________________________________________________________
    ___________________________________________________________________________
    ___________________________________________________________________________
    ___________________________________________________________________________
    ___________________________________________________________________________
    ___________________________________________________________________________
    __________________________________________________________________________

    2
    4) 10000 equity shares of ₹ 10 each issued at 10% premium. Calculate the total amount of
    share premium.

    ___________________________________________________________________________
    ___________________________________________________________________________
    ___________________________________________________________________________
    ___________________________________________________________________________
    ___________________________________________________________________________
    ___________________________________________________________________________
    ___________________________________________________________________________
    __________________________________________________________________________

    5) A,B and C are sharing 1/2 , 3/10 , and 1/5 if A Retired then What is the new ratio of B and
    C?
    ___________________________________________________________________________
    ___________________________________________________________________________
    ___________________________________________________________________________
    ___________________________________________________________________________
    ___________________________________________________________________________
    ___________________________________________________________________________
    ___________________________________________________________________________
    _________________________________________________________________________

    Q.2. Prepare a Specimen of ‘Bill of Exchange’ from the following details. [5] marks
    1) Drawer:- Rekha Pradhan, Orange city, Andheri west.
    2) Drawee:- Pravin Parekh, Castel road, Santacruz west
    3) Amount : ₹ 20200
    4) Period : 2 months
    5) Date of Bill: 5th November 2019
    6) Accepted for : 19500 on 6th November 2019.

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