Model Paper
Section A
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
Give the meaning of accounting.
What are drawings?
Expand GAAP.
What is journalizing?
Mention any two features of Cash Book.
What is an error of principles?
State any two parties of a bill of exchange.
What is closing stock?
What is a statement of affairs?
State any two elements of computer system.
Section B
1. Brielfy explain accounting conventions.
2. Classify the following accounts under English system
Furniture A/C
Cash A/C
Rajesh A/C
Interest A/C
International Traders A/C
Traveling expenses A/C
Motor Vehicles A/C
Drawings A/C
Stock A/C
Wages A/c
3. Prepare a Personal account of Inchara from the following transactions:
January 10
01 Credit Balance of Inchara Rs. 12000
05 Bought goods from Inchara Rs. 8000
09 Returned goods to Inchara Rs. 800
15 Sold goods to Inchara Rs. 6400
30 Paid to Inchara Rs. 9000
4. Enter the following in the purchase book for the month of March 2013
March 2013
01 Purchased goods from Rajesh Rs. 16000
06 Bought goods from Suresh Rs. 10000 less 5% trade discount
18 Purchased from Mahesh on account Rs. 8000
24 Bought Xerox from Kamalesh Rs. 15000
5. From the following information prepare analytical petty cash book under imprest system.
July 2013
01 Balance of Cash Rs. 600
01 Cheque received from main cashier Rs. 1400 under imprest system.
06 Paid for cartage Rs. 300
08 Paid for postage Rs. 150
12 Wages paid Rs. 225
18 Paid for printing charges Rs. 275
22 Paid to telephone expenses Rs. 220
30 Paid to Impana on account Rs. 280
6. Prepare a trial balance from the following ledge balances as on 31 st December 2013
Cash A/c
Purchase A/C
Wages A/c
Sales A/C
Bank loan A/c
Rs.90000
Rs. 125000
Rs. 30000
Rs. 140000
Rs. 40000
Furniture A/c
Salary A/C
Adverisement A/c
Capital A/c
Rs. 45000
Rs. 28000
Rs. 12000
Rs. 150000
7. Write any five advantages of computerized accounting.
Section C
1. Journalize the following transactions in the books of Pavan for the month ofv February 2013
1
2
5
8
10
11
13
17
18
21
23
26
28
30
Commenced Business
Opened a Bank a/c
Purchased furniture by Cheque
Bought goods for cash from Roopa Traders
Bought from Pampa traders
Cash Sales
Sold goods to Krupa traders
Rent Paid
Paid trade expenses by Cheque
Received cheque from Krupa traders
Goods returned to Pampa traders
Paid to Pampa traders
Paid salary
Received loan
2. Prepare
cash book from the following transactions and balance the same:
Sept 2013
Rs. 200000
Rs. 90000
Rs. 25000
Rs. 50000
Rs. 60000
Rs. 55000
Rs. 15000
Rs. 6000
Rs. 3000
Rs. 10000
Rs. 2000
Rs. 40000
Rs. 10000
Rs. 15000
the 3 column
1
3
4
5
9
11
13
15
18
20
24
Balance cash Rs. 12000 and Bank Rs. 15000
Paid to bank Rs. 8000
Purchased goods for cash Rs. 2000
Received cheque from Dharmendra Rs. 25000 and allowed him discount of Rs. 1000
Cash sales Rs. 14000
Paid to Amitab Rs. 125000 and received discount of Rs. 500
Received from Salman Rs. 7000
Deposited Dharmendra's cheque into bank
Received rent Rs. 6000
Withdrew for office use from bank Rs. 9000
Paid salary by cheque Rs. 5000
3. Prepare bank reconciliation statement as 31 st Dec 2013 from the following information pass book of
Shobha showed overdraft Rs. 15000
a) Cheque Rs. 6000 issued but not presented for payment
b) Cheque paid into bank but not credited before 31/12/13 Rs. 4000
c) Wrong debt in passbook Rs. 800
d) Customer directly deposted Rs. 5000 but not entered in cash book.
e) Dividend on shares collected by the bank credited only in the passbook Rs. 2000
f) Cheque paid to the bank was dishonored Rs. 1000
4. Record the following information in the proper subsidiary books in August 2010
1
2
4
6
9
11
15
17
21
23
25
26
27
29
Purchased from Radha Rs. 6000
Bought 20 articles @ Rs. 500 each from Vedha
Sold goods to Kumudha Rs. 4500
Sold goods to Sudha Rs. 15000
Returned goods to Vedha Rs. 500
Cash Sales Rs. 3000 to Megha
Bought from Sudha Rs. 20000 at 10% trade account
Bought goods from Dinesh Rs. 25000
Goods returned by Kumudha Rs. 500
Returned to Sudha Rs. 3000
Bought from Roopesh Rs. 10000
Credit sales to Ramesh Rs. 9000
Purchased type writer machine from XYZ Co Rs. 30000
Sent debit note on Dinesh Rs. 1000
5. On 1st June 2013 Fathima sold goods to Mahima for Rs. 15000 on the same day. Mahima accepted a
bill drew on her for 3 months. On 4th July 2013 Fathima endorsed the bill to Reema on the same day
Reema discounted the bill for Rs. 14000. With her banker, on the due date the bill was honored. Pass
journal entries in the books of Fathima, Mahima and Reema.
6. From the following Trial Balance and additional information, prepare trading and profit and loss
account for the year ending 31st December 2013 and Balance Sheet as on that date:
Trial Balance as on 31st December 2013
Sl No
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
Particulars
Purchase and Sales a/c
Bank A/c
Wages a/c
Debtors and Creditors
Cash A/c
Legal Expenses A/c
Building A/c
Machinery a/c
Commission A/c
Office Expenses a/c
Opening Stock A/c
Cartage A/C
Factory Expenses A/c
Office Furniture A/c
Investment A/c
Drawing a/c
Capital A/c
L/F
Debit
Amt
160000
22000
68000
140000
2000
8000
240000
120000
14000
6000
90000
6000
17000
10000
37000
10000
950000
Credit
Amt
400000
110000
12000
428000
950000
Additional information:
a)
b)
c)
d)
Closing stock – Rs. 100000
Outstanding Wages – Rs. 2000
Provide for bad debts @ 5% on debtors
Depreciate machinery and building at 5% each
7. Arjun Kumar kept his book under incomplete system. Prepare statement of profit and loss for the
year ending 31st March 2013 and prepare revised statement of affairs as of that date.
Cash
Bank OD
Stock
Creditors
Debtors
Bills Payable
Bills Receivable
Buildings
Furniture
Machinery
April 1 2012
100000
35000
90000
65000
80000
30000
50000
200000
60000
50000
March 31
2013
160000
25000
100000
55000
90000
40000
70000
200000
60000
50000
Adjustments
a)
b)
c)
d)
e)
Write off Rs. 10000 as bad debts
Appreciate buildings at 10%
Salary due Rs. 5000 and wages due Rs. 2000
Depreciate machinery by 5% pa and furniture by Rs. 10000
Prepaid rent Rs. 3000
During the year Arjun withdrew Rs. 10000 for personal use and introduced additional capital of Rs. 30000
Section D
1. Draw a diagram showing accounting cycle
2. Prepare a specimen of bill of exchange.
3. Prepare a Trading a/c with five imaginary figures.