Class test Accountancy XI Commerce

Q. 1. Prepare correct trial balance from the following transactions.

Transactions Rs
Capital 20800
Rent due 1420
Amount due to Param 15000
Drawing 2800
Good will 12000
Interest received 2000
Discount received 1580
Amount due from Deepan 26000

Q. 2. Record the following transitions in the sales book of M/s Sri Ram & sons Kolkata 4
5 Jan; Sold to Modern stationary house Lucknow for cash
25 dozen pencils @ Rs 22 per dozen
7 Jan; Sold old news paper for @ Rs 150
12 Jan; Sold old furniture to Kedar Nath & co. Allahabad on credit Rs 2200
15 Jan; Sold to Ali Khan & sons Allahabad 10 reams of paper @ Rs 80 per ream @ discount 15%
Q. 3. Prepare cash book with Cash and Bank columns of Raman. 4
Jan 1, 2015; Cash in hand Rs 8000 and bank overdraft Rs 5700
Jan 5, 2015; Received a cheque from Bharti Rs 3250
Jan 8, 2015; deposit the above cheque into bank
Jan 14, 2015; cheque received from Panna lal Rs 1200
Jan 22, 2015; Bharti cheque dishonored
Jan 25, 2015; prepare bank draft by cash Rs 5000 and charged Rs 100 as commission
Jan 28, 2015; Panna lal cheque was endorsed to Suman
Jan 30, 2015; Income Tax paid Rs 250
Bank charges charged Rs 100 and interest on investment collected by bank Rs1200
Q. 3. Prepare an Accounting equation from the following transitions; 4
i. Started business with cash Rs 70000 and goods Rs 30000
ii. 1/3 of goods sold at a profit of 20% and half of which received in cash
iii. Rent outstanding Rs 300 and salary paid in advance Rs 25000
iv. Bought motor cycle for cash Rs 1200
v. Received security deposit from tenants Rs 2000
Q. 4. Pass the journal entries in the books of Reema . 6
a. Received Rs. 3800 from Dushyant on his account for Rs. 4000 in his satisfaction
b. Biro who owed us Rs 15000 is declared insolvent and 65 paise in a rupee is received as final
dividend from his estate
c. Issue a cheque in favour of M/s Karanveer timber on account of the purchase of timber of 7500
d. Interest on drawing Rs 1000
e. The horse bought of Rs 15000, died and it carcass was sold for Rs 10000
f. Paid land lord 12000 for rent, 1/3 of the building is occupied by the proprietor for residential use
Q. 5. On 30th June 2011 the bank column of Anil’s cash book showed a debit balance of Rs 8250. On
examination of the cash book and bank statement you find that; 6
i. Out of the total cheque amounting to Rs 8000 issued, cheque amounting Rs 5800 have been
presented for the payment upto 30th June 2011.
ii. Out of total cheque amounting to Rs 6000 sent to bank for collection cheque of Rs 4100 were
credited in pass book upto 30th June2011
iii. On 28 June a customer deposited Rs 3500 direct in the bank account but it was entered only in
the pass book on information till the date 5 July in cash book
iv. Debit side of Anil’s cash book (bank column) has been over cast by Rs 120
v. No entry has been made in the cash book for the rent of Rs 800 paid by banker according to
Anil’s standing instruction.
vi. The pass book showed a credit of Rs 320 for interest and debited of Rs 40 for bank charges but
these have not been entered in the cash book
vii. A bill for Rs 6000 dishonored on 30th June, 2011 and bank paid noting charges. This bill was
discounted on 30th April 2011.
Q. 6. Mohan started business on 1st April 2016 with a capital of Rs 20000 and he borrowed from his
friend Rs 5000. He earned a profit of Rs 3500 during the year ended 31st March 2017. Find out total
assets.
Date Particular RS
1-Apr-16 commence business with cash 150000
2 April, 16 opened bank account 50000
4-Apr purchase furniture 20000
7-Apr bought goods from Mrs. Roopa 54000
10-Apr purchased goods from Mrs.Hema 42000
15-Apr cash sales 30000
22-Apr sold goods on credit to Gupta 12000
24-Apr rent paid out of which 500 advance 4000
26-Apr paid trade expenses 1000
27-Apr received cash from Gupta in full settlements 11500
28-Apr goods returned to Mrs.Hema 10%
29-Apr paid into bank 2000
30-Apr cash withdrew from bank for rent 1000
30-Apr paid to Hema 35000
30-Apr bought postage stamp 100
30-Apr paid salary to Rita 1000
30-Apr commission received 3000
Q. 8 . prepare T- shape accounting from the following transactions for creditors (Ram) and furniture
account.
Started business with cash Rs 100000
Purchase goods from Ram Rs 25000 and furniture for cash Rs 10000
Returns good to supplier Rs 1000
Paid to Ram in full settlement less Rs 500 as discount
Furniture sold costing 2000 for Rs 1300
Depreciation charged on furniture Rs 750