FIRST PUC MID-TERM EXAM OCT/NOV-2024 KEY ANSWER

ACCOUNTANCY-30
Date:09-11-2024
Que Answers Marks
No.
PART - A
I Choose the correct Answer from the choices given 5 x 1=5
1 b) Monetary units 1
2 c) Dual aspect concept 1
3 b) Two 1
4 d) Petty Cash Book 1
5 b) Principal Book of Accounts
II Fill in the Blanks 5 x 1=5
6 Business 1
7 Economic 1
8 Historical 1
9 Journalising 1
10 Unfavorable 1
III Match the Following 5 x 1 =5
11 A B
a) Building v) Fixed asset One
b) Single entry system vi) System of Accounting each
c) Journal iv) Book of prime/ Original entry
d) Favorable Balance i) Bank Balance as per Cash Book
e) Sales book ii) Subsidiary book
IV Answer in one word or one sentence each 5 x 1 =5
12 Investment made by the owner in his business is called capital. 1
13 True 1
14 Institute of Chartered Accountants of India 1
15 a) Reliability b) Relevance c) Understandability d) Comparability 1
(Any one)
16 Petty cash book is a subsidiary cash book which is used to record all petty or small 1
expenses.
PART-B
V Answer any Three Questions 3 x 2=6
17 a) Cash transaction 1+1
b) Credit transaction
18 The system of recording two aspect of every transaction in the books of accounts is known 2
as double entry system.
19 Decrease in a liability - Debit 2
Increase in a liability – Credit
20 Entries made on both the debit and the credit sides of double column cash book to record a 2
single transaction are called contra entries.

BGM Accountancy PUC 1 Mid Term Exam Oct/Nov-2024 UDT Page 1

 21 Bank reconciliation statement is a statement which is prepared to reconcile the bank 2
balance as per cash book with the bank balance as per passbook by showing the items of
difference between the two balances.

PART - C
VI Answer any Three Questions 3 x6=18

22 Accounting equation : Assets = Capital + Liability 6

SL.NO ASSETS = CAPITAL + LIABILITY
1 Cash Rs. 2,00,000 Rs. 2,00,000 + ------
TOTAL 200,000 2,00,000
2 Cash Rs. 2,00,000 Rs. 2,00,000 + 50,000
Machinery Rs. 50,000
TOTAL 250,000 2,50,000
3 Cash Rs. 2,00,000 – 50,000 = 1,50,000 Rs. 2,00,000
Machinery Rs. 50,000
TOTAL 2,00,000 2,00,000

23 Classification of accounts ½ Each

Assets Liability Capital Expenses/Loss Income/Gains
a) Building A/c c) Outstanding h) Drawings b) Purchases A/c e) Sales A/c
wages A/c A/c
j) Debtors A/c d) Creditors A/c f) Rent paid A/c
k) Interest i) Bank loan A/c g) Purchases return
receivable A/c A/c
l) Bank A/c

Single Column Cash Book 1 each

24 Dr. Cr.
DATE RECEIPTS LF Amount DATE PAYMENT LF AMOUNT
1/3/24 To balance b/d 75,000 8/3/24 By Purchases 28,000
16/3/24 To Vinay’s A/c 20,000 26/3/24 By Carriage A/c 1,000
30/3/24 By Computer A/c 30,000
31/3/24 By Balance c/d 36,000
95,000 95,000
1/4/24 To balance b/d 36,000

BGM Accountancy PUC 1 Mid Term Exam Oct/Nov-2024 UDT Page 2

 25 Amount Date Particulars V Amount Analysis of Payments 6
Received . Paid Xerox Courier Cartage Refresh.
Rs. N Rs. Rs. Rs. Rs. Exp.
o. Rs.
2,000 1-9-24 By Bank A/c -
6-9-24 By Xerox 120 120 - - -
15-9-24 By Courier 150 - 150 - -
21-9-24 By Cartage 500 - - 500 -
26-9-24 By Refersh. 380 - - - 380

1,150 120 150 500 380

30-9-24 By Balance c/d 850
2,000 2,000
850 1-10-24 By Balance b/d
1,150 1-10-24 By Bank A/c

26 Sales Book
Date Outwar Particulars LF Amount 1 each
d ( Name of Customers) Rs.
Invoice
No.
01-06-24 Anupam Traders Rs. 10,000
Less: Trade Discount 10% 1,000 9,000

03-06-24 Rashmi Traders 7,000

11-06-24 Khushi & Co. 8,000
25-06-24 Manasi & Co Rs. 15,000
Less: Trade Discount 15% 2,250 12,750

TOTAL 36,750

Note: Date: 20-06-24 Transaction will appear in Cash Book.

BGM Accountancy PUC 1 Mid Term Exam Oct/Nov-2024 UDT Page 3

 PART - D
VII Answer any Three questions 3x12=36
27 Journal In the Books of Sita Traders
LF Debit Credit 12
Date Particulars Amount Amount
Rs. Rs.
01-04-2024 Cash A/c Dr 50,000 -
To Capital A/c - 50,000
(Being Commenced business with cash)
03-04-2024 Bank A/c Dr 20,000 -
To Cash A/c - 20,000

06-04-2024 Purchases A/c Dr 7,000 -

To Sharat’s A/c - 7,000

08-04-2024 Sharat’s A/c Dr. 800 -

To Purchases Returns A/c - 800

10-04-2024 Sharat’s A/c Dr. 5,000 -

To Bank A/c - 5,000

12-04-2024 Charity A/c Dr. 500 -

To Cash A/c - 500

15-04-2024 Telephone Bill A/c Dr. 900 -

To Cash A/c - 900

18-04-2024 Computer A/c Dr. 12,000 -

To Cash A/c - 12,000

20-04-2024 Cash A/c Dr. 2,000 -

To Bank A/c - 2,000

22-04-2024 Stationery A/c Dr. 100 -

To Cash A/c - 100

25-04-2024 Drawings A/c Dr. 1,500 -

To Cash A/c - 1,500

29-04-2024 Cash A/c Dr. 1,200 -

To Commission A/c - 1,200

BGM Accountancy PUC 1 Mid Term Exam Oct/Nov-2024 UDT Page 4

 1,01,000 1,01,000
TOTAL

Simple entry 1 Mark Compound entry 2 marks each

28 Journal In the Books of Sita Traders
LF Debit Credit 12
Date Particulars Amount Amount
Rs. Rs.
01-01-2024 Cash A/c Dr 2,00,000 -
Stock A/c Dr 1,20,000 -
Building A/c Dr 2,50,000 -
To Capital A/c - 5,70,000
(Being Commenced business)
04-01-2024 Purchases A/c Dr 5,000 -
To Cash A/c - 5,000

08-01-2024 Cash A/c Dr 35,000 -

To Sales A/c - 35,000

10-01-2024 Purchases A/c Dr. 40,000 -

To Rishi’s A/c - 40,000

14-01-2024 Varun’s A/c Dr. 50,000 -

To Sales A/c - 50,000

18-01-2024 Rishi’s A/c Dr. 40,000 -

To Cash A/c - 38,000
To Discount A/c - 2,000

20-01-2024 Cash A/c Dr. 49,000 -

Discount A/c Dr. 1,000 -
To Varun’s A/c - 50,000

25-01-2024 Advertisement A/c Dr. 10,000 -

To Cash A/c - 10,000

30-01-2024 Cash A/c Dr. 50,000 -

To Capital A/c - 50,000

TOTAL 1,01,000 1,01,000

BGM Accountancy PUC 1 Mid Term Exam Oct/Nov-2024 UDT Page 5

 Simple entry 1 Mark Compound entry 2 marks each

29 Double Column Cash Book

Dr. Cr.
Date Receipts L Cash Bank Date Payments L Cash Bank
F Rs. Rs. F Rs. Rs.
1-8-24 To Bal b/d 1,75,000 17,500 5-8-24 By Bank A/c C 25,000 -

5-8-24 To Cash C - 25,000 8-8-24 By Furniture A/c - 10,000

-
15-8-24 To Sales 75,000 10-8-24 By Purchases A/c 30,000 -

26-8-24 To Sales A/c 15,000 - 22-8-24 Purchases A/c - 5,000

24-8-24 By Computer A/c - 35,000

30-8-24 By Salary A/c 10,000 -

31-8-24 By Rent A/c - 7,500

31-8-24 By Balance c/d 1,25,000 60,000

1,90,000 1,17,500 1,90,000 1,17,500

1-9-24 To Balance b/d 1,25,000 60,000

BGM Accountancy PUC 1 Mid Term Exam Oct/Nov-2024 UDT Page 6

30 Subsidiary Books 12

Purchases Book
Date Inward Particulars LF Amount
Invoice (Name of the Suppliers) Rs.
No.
01-7-24 Krishna Traders 30,000
02-7-24 Sham (25,000 – 10% Trade Discount) 22,500
15-7-24 Murali 21,000
25-7-24 Gopal ( 18 Units x Rs.300) 5,400

TOTAL 78,900

Purchases Return Book

Date Debit Particulars LF Amount
Note (Name of the Suppliers) Rs.
No.
06-7-24 Sham (Rs.2,000 – 10% Trade Discount) 1,800
31-7-24 Gopal (4 units x Rs.300) 1,200

TOTAL 3,000

Sales Book
Date Outward Particulars LF Amount
Invoice (Name of the Customers ) Rs.
No.
04-7-24 Keshav & Co. 45,000
07-7-24 Mohan 14,000
10-7-24 Madhav & Sons 18,000
18-7-24 Nandand 5,000

TOTAL 82,000

Purchases Book
Date Credit Particulars LF Amount
Note (Name of the Customers ) Rs.
No.
12-7-24 Mohan 1,000
24-7-24 Nandan 1,000

TOTAL 2,000

Each one Marks

BGM Accountancy PUC 1 Mid Term Exam Oct/Nov-2024 UDT Page 7

31 Bank Reconciliation Statement as on 30-04-2024 12
Particulars Amount Amount
Rs. Rs.
Bank Balance as per Pass Book 18,000
Add: b) Cheques paid in to Bank but not cleared 3,000
c) Wrong debit in the pass book 2,000
f) Cheque dishonoured debited in the pass book 1,000 6,000
24,000
Less: a) Cheques Issued but not cashed 2,000
d) Direct deposit by a customer in to bank account 1,500
e) Interest credited in the pass book 1,200 4,700
Bank Balance as per Cash Book 19,300

Each two Marks

32 Bank Reconciliation Statement as on 31-03-2024 12

Particulars Amount Amount
Rs. Rs.
Bank Balance as per Cash Book 85,000
Add: 3) Cheque issued but not presented for payment 15,000
5) Dividend on Shares Collected & credited by the Bank 3,800
7) Direct deposit by a customer in to bank account 4,000 22,800
1,07,800
Less: 2) Cheque deposited into bank but not credited 13,000
4) Insurance Premium paid by the bank 2,500
6) Bank Charges debited by the bank in pass book 200 15,700
Bank Balance as per Pass Book 92,100

Each two Marks

BGM Accountancy PUC 1 Mid Term Exam Oct/Nov-2024 UDT Page 8