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Ambience Acdmy: STD 11 Commerce Account

The document contains 7 multiple part accounting questions testing the ability to prepare accounting equations, journalize transactions, and record transactions in accounts. It covers the core skills of recording debits and credits for purchases, sales, payments, returns, and other common accounting transactions.

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72 views3 pages

Ambience Acdmy: STD 11 Commerce Account

The document contains 7 multiple part accounting questions testing the ability to prepare accounting equations, journalize transactions, and record transactions in accounts. It covers the core skills of recording debits and credits for purchases, sales, payments, returns, and other common accounting transactions.

Uploaded by

Menu Garg
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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ambience acdmy

Date : 24-01-2024 STD 11 Commerce Account Total Marks : 36

* questions of 4 marks each. [12]


1. Prepare Accounting Equation on the basis of the following transactions:
i. Started business with cash ₹ 70,000.
ii. Credit purchase of goods ₹ 18,000.
iii. Payment made to creditors in full settlement ₹ 17,500.
iv. Purchase of machinery for cash ₹ 20,000.
2. Prepare Accounting Equation from the following:
a. Started business with Cash ₹ 2,00,000.
b. Purchased goods for Cash ₹ 60,000 and on Credit ₹ 1,50,000.
c. Sold goods for Cash costing ₹ 40,000 at a profit of 20% and on Credit costing ₹
72,000 at a profit of 25%.
d. Paid for Rent ₹ 5,000.
3. Put the following on the proper side of Cash account, Debtor's account and Creditor's
account:
a. Sold goods for cash ₹ 60,000.
b. Sold goods to Hari on credit ₹ 20,000.
c. Purchased goods from Krishan on credit ₹ 36,000.
d. Purchased goods from Krishan for cash ₹ 10,000.
e. Cash received from Hari ₹ 15,000.
f. Cash paid to Krishan ₹ 28,000.

* questions of 6 marks each. [24]


4. Enter the following transactions in the Journal of Arun Govil & Co.
20
18
Jun Arun Govil & Co. paid into bank as capital ₹ 6,00,000.
e1
Jan Purchased goods from Mukesh of the list price of ₹ 2,00,000 at 10% trade discount.
e3
Jun One-fourth of the above goods returned to Mukesh for not being upto
e 4 specifications.
Jun Issued a cheque to Mukesh for the amount due to him after deducting 2% as cash
e 6 discount.
Jun Withdrew from bank ₹ 2,50,000 for office use and ₹ 10,000 for personal use.
e7
Jun Purchased a machinery for ₹ 1,00,000 and spent ₹ 5,000 on its installation.
e Payment for machinery was made by cheque and installation expenses were paid
10 in cash.
Jun Sold goods for ₹ 1,00,000 to Amar.
e
12
Jun Amar clears his account by giving a cheque of ₹ 98,500. Cheque is immediately
e sent to bank.
13

[1]
Jun Purchased stationery for personal use ₹ 3,000 and for office use ₹ 5,000.
e
15
Jun Purchased land for ₹ 2,00,000 and paid 1% as brokerage and ₹ 15,000 as
e registration charges on it. Entire payment is made by Cheque.
20
Jun Wages due to labourers ₹ 20,000 and salary due to the clerk ₹ 30,000.
e
30

5. Journalise the following transactions:


20
18
Apr Purchased goods for ₹ 1,00,000 from Manoj and availed discount of ₹ 10,000
il 1
Apr Paid amount due to Manoj by cheque and availed discount of ₹ 4,500
il 2
Apr Cash ₹ 5,000 paid to Desai and discount allowed by him ₹ 200
il 5
Apr Cash ₹ 10,000 received from Govardhan and allowed him discount ₹ 500.
il
10
Apr Sold personal Car of the proprietor for ₹ 80,00 against cheque, which was
il deposited into the firm's bank account.
12
Apr Sold personal Car of the proprietor for ₹ 1,50,000 against cheque, which was
il deposited into the proprietor's personal bank account.
16
Apr Sold goods to Gaurav costing ₹ 1,00,000 at a profit of 40% and allowed him 10%
il trade discount and paid for cartage ₹ 3,000 not to be charged from him.
20
Apr Placed an order with Rudra & Co. for supply of goods of ₹ 80,000 and a cheque for
il 40% amount is sent to them as an advance.
24

6. Enter the following transaction in the Journal of Marutinandan Stores:


2017
Jan. Purchased goods from Ghanshyam of the list price of ₹ 50,000 at 15% trade
10 discount.
Jan. Returned goods to Ghanshyam of the list price of ₹ 2,000
13
Jan. Paid cash to Ghanshyam ₹ 40,000 in full settlement of his account.
15
Jan. Purchased goods from Raghu of the list price of ₹ 60,000 at 10% trade discount.
20
Jan. Returned goods to Raghu of the list price of ₹ 5,000
22
Jan. Paid cash to Raghu ₹ 49,000 in full settlement of his Account.
25

7. Journalise the following transactions:

[2]
1. Goods for ₹ 50,000 were destroyed by fire.
2. Goods worth ₹ 18,000 were distributed as free samples and ₹ 20,000 were
given away as charity in cash.
3. Goods worth ₹ 25,000 and cash ₹ 40,000 were taken away by the proprietor for
his personal use.
4. Goods worth ₹ 20,000 and cash ₹ 5,000 were given away as charity.
5. Cash ₹ 1,00,000 were stolen from the Iron Safe of the trader.

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