Conttd enties on the debit side of the Cash B0OK are p

a) Debit of Bank Account in the ledger b) Debit of Cash Account in

) Credit of Cash Account in the ledger d) Not posted in the ledger thelediger
10. Which of the following has Credit Balance :
Bills Receivables d)
a) Sundry Debtors
ATrial Balance is:
b) Sundry Creditors c) Goodwill A/c
a) AStatement, b) ASummary, c) An Account, d) None of these
Depreciation is a process of
a) Valuation of an b) Allocation of Both valuation d) Allocation of
Asset COst ot asset as of asset and Expense
expense allocation of cost
OR
Amachine which costs Rs. 2,00,000 is depreciated at 25% per year using the Written
Down Value
Method. At the end of tree years, it willhave a net book value of :
a) Rs. 1,50,000 b) Rs. 84,375 c) Rs. 1,12,500 d) Rs. 1,00,000
Depreciation Account is closed at the end of the year by transfer to the : 1
a) Fixed ASset b) General Reserve c) Profit and Loss d Capital Account
Account Account Account
BR
14. Provision is a :
1
a) Specific Reserve b) General Reserve c) Capital Reserve d) None of these
Errors not shown by Trial Balance are:
1
a) Errors of b) Compensating c) Errors of All of these
d)
Principle Errors Complete Omission
6. Purchase office furniture for Rs.1,200 was debited to the General Expense Account. It is :
of 1
a) Aclerical error b) An error of c) An error of d) None of these
principle omission
H. Explain the Obiectives of Financial Accounting. 3
OR
Explain the Limitations of Financial Accounting.
18. Show the effect of the following transactions on assets, liabilities and capital through Accounting 3
Equation:
La Amit started Business with Cash Rs. 40,000 and bank balance Rs. 10,000
ca Purchased Goods for Cash Rs.15,000 and on credit Rs.5,000
Lt Sold Goods costing Rs. 8,000 for cash at a profit of 10% on cost
d) Rent due, but not paid Rs.500
Pass journal Entries in the Books of Richa of Rajasthan, assuming CGST@9% andSGST@9% for the 3
followving transactions:
cat Purchased Goods for Rs. 3,000 fom iten of Gujrat
b) Sold Goods costing Rs. 80,000 to Mr. Mahender of Rajasthan at a profit of 25% on cost less
trade discount 10%.
Paid for Advertisement (without GST) RS. 50,000.
20. Explain three differences between PrOvisions and ReserveS. 3

Page 2 of 5
 dang he rroit"
0.9

April 8 Purchased on cred1t from Subodh Brothers 5 chests of tea Rs. 4,000 per chest
at a Trade Discount of 10% and packing and other charges Rs. 500
April 12 Purchased in cash 20 boxes of tea @ Rs. 500 per box at a Trade Discount of
10%
April 18 Purchased on credit 3 show cases @ 1,50 per case from Raj Furnishing
House at a Trade Discount of 10%
April 20 Purchased on credit 15 boxes of tea @ Rs. 600 per box at a Trade Discount of
10% from Siliguri Tea Agercy and packing andother charges of Rs. 50
Apr 25 Purchased s kgs of Speciai Green Tea on credit from Darjeeling Tea House @
Rs. 200 per kg at a Trade Discount of 10% for householdconsumption of
proprietor
You are required to prepare the Purcnase Book.
Enter the foliowing transactions in a Double Column Cash Book: 6
2019 Rs.
Jan 1 Cash in Hand 800
Jan 1 Bank Overdraft S,700
Jan 5 Received a cheque of Rs. 4,750 from ram, aliowed him cash discount Rs. 250
Jan Deposited Ram's cheque into bank
Jan 10 Paidto Sohan bycheque of Rs. 2,425, received cash discount of Rs. 175
"Jan 20 Ram's cheque returned dishonoured
Jan 28 Withdrew for office use from bank Rs. 250
23 Prepare Bank Reconciliation Statement as on 30" June, 2019 for Jyoti Sales Private Limited for 6
the infornation given below (6)
Rs.
Bank overdraft as per Casn Book on 30 une, 2015 1,10,450
b. Cheques issued on 20" June, 2015 but not yet presented 15,000
C Cheques deposited but not yet creditea by the bank 22,750
d Interest debitedby the bank on 27: June, 2015 but no advice received 12,115
e. Subsidy received from the authorities by the bank on our behalf, credited
to the account, but not recorded in cash book. 22,000
f Amount wrongly debited by the bank 2,400
Amount wrongly credited by the bank 5,000
24. On 1stOctober 2013, Ram and Mohan purchased a second hand machine for Rs.1,80,000 and spent 6
Rs.20,000 on its repair and installation. On 30th September2016, the machinery was sold for
Rs.1,36,000. The books are closed on 31st March every year and appreciation is charged @10% p.a.
onthe written down value. Show machinery account from the date of purchase of machinery till
the date of sale of machinery

25 Rectify the following enries. 60

Goods costing 21,000 have been purchased on credit from Sohan, but no entry has been 2
made the books, although the goods were taken into stock.
Goods purchased oncredit from Pawan for 400 was recorded as !
4,000 in purchase book.
An amount of M
2,500 spent for theextension of the machinery has been debited to wages
account.

)
 financial Statements
26 Netas R, t,00,000
Gross ptofit 25%% on cost.
Calculate Cost of Goods Sold.
27. Income Tax paid by a Sole Trader is reflected in his Financial
a) On the Debit
Statements:
b) On the Debit c As an Asset in d) As a way of
side of the Trading side of the Profit the Balance Sheet
Account and Loss Account
deduction from Capital
in the Balance Sheet
(28. If Closing Stock appears in the
Trial Balance then it will be appearing in :
a) Trading Account b) Profit and Loss c) Balance 1
Sheet d) Balance Sheet -
29,
Account Assets side Liabilities sid
The Manager is entitled toa
commission of 5% on Profits after charging Such
Profit before charging commission is
Rs.10,500. Hence
commission. The 1
30: the Manager's Com mission will be
Calculate capital at the beginning from the following
Capitai at the end of the year 4,00,000 information: 3
Withdrew ? 5000, P.M. for househoid expenses
Sold his personal investment of D
80,000 at a profit of 25% and introduced that
business. amount into
Profit of the current year 80,000.
31, From the following balances
Trading account for the year ended extracted from the books of Karan, Prepare
3
31st March, 2022:
PARTICULARS
Stock on 1st April,2021 DEBIT BALANCE CREDIT BALANCE
Purchases and Sales 6,25,000
Returns 9,03,000
22,000
16,12,000
Direct Expenses 13,000
TOTAL 75,000
Closing Stock on 31st March,2022 is valued 16,25,000 16,25,000
at Rs. 6,50,000.
Goods worth Rs. 5,000are
been taken away by the reported have
to
personal use.
Proprietor for his
L32. Following is the extract from the Trial Balance ofa firm
Particulars as at 31 March, 2022:
Dr.
Cr.
Sundry Debtors
Provision for Bad Debts 4,10,000
Bad Debts 20,000
Additional Information: 6,000

Additional Bad Debts Rs. 10,000

Maintain the Provision for Doubtful Debts
Show the Data given in the Profit & Loss @10% on Sundry Debtors.
33
Account and Balance Sheet.
Give Journal Entries for the toSoexS
following adjustments in final Accounts:
r Salaries Rs. 5,000 are
Rs. 4,000 for Rent haveoutstanding.
been received in advance
C. Interest on Capital Rs
1,500
Closing Stock Rs. 3,000

Page 4 of 5
Particulars A as on 315
March 2020:
(Dr.)
1,080
Cash dt Bank
5,260
Purchases/Sates
81,350
Returns
1,97,560
1,360 1,000
Wages 20,960
FueB & Power 9,460
Carriage on Sales 6,400
Carriage on purchases 4,080
Stock {i.04.15) 11,520
60,000
Building
Freehold land 20,000
40,000
Machinery
30,000
Salaries
15,000
Patents
6,000
Genea Expense
Insurance
1,200
1,42,000
10,490
Drawings/Capital 12,600
Sundry Debtors/creditors 29,000
3,53,160
3,53,160

AC
adiustments. Prepare only Profit &LOSS
Zmto aCOunt the following
and the Balance sheet:

Stock on hand on 31st March 2020 is P 13,600.

The Gross Prof1t is i" 83,4 30
Vachinery is io be depreidled at 0% )à and patents dt z00 unpaid.
were
Salaries tor the month of March 2020Damount to 3,000
Insurance includes a premiumn of 170 for year 202021.
gf5% onsundr
A provision for doubttul debtS S to be Created to the extent
debtors.