SHIKSHA BHARATI PUBLIC SCHOOL
Holiday Homework-2014
Class XI
Subject:- Accountancy
Chapter-4 (Basis of Accountancy)
1. What are the two basis of Accountancy?
2. What do you understand by cash basis of Accountancy?
3. What do you understand by accrual Basis of Accountancy?
4. Distinguish between cash basis and accrual basis of accounting?
5. What are the advantages of cash Basis of Accounting?
6. What are the disadvantages of cash basis of Accounting?
7. What are the advantages of Accrual Basis of Accounting?
8. What are the disadvantages of Accrual Basis of Accounting?
9. Define the Concept of outstanding expense is and prepaid expenses?
10.Define Accrual Income and Income Received in Advance?
Chapter -5 (Accounting Equation)
Q.1 Prepare the Accounting requation on the basis of the following:1.
Sachin started business and introduced capital Rs. 1, 00,000 in cash.
2.
Puranchand goods in cash Rs. 50,000
3.
Puranchan from M/S. Samrat Furniture Rs. 20,000
4.
Sold goods casting Rs. 25,000 for Rs. 35,000.
5.
Paid M/S. Samrat Furniture in cash.
Q.2 Prepare the Accounting Equation on the basis of the following:-
1.
Started business with cash Rs. 70,000
2.
Credit purchases of goods Rs. 18,000
3.
Payment made to crediting in full settlement Rs. 17,500.
4.
Purchase of machinery for cash Rs. 20,000
Q.3 Mr. Rakesh started business as on 1st April 2011 with a capital of Rs. 1, 50,000.
During the year, the following translation took place.
1.
2.
3.
4.
5.
6.
7.
Furniture purchased for cash Rs. 20,000
Purchased goods form Manish on credit 25,000.
Sold goods (costing Rs. 10,000) to Mohan for cash Rs. 14,000.
Additional capital introduced Rs. 20,000
Commission received in advanced Rs.2,000
Paid to creditor (Mahesh) Rs. 22,500 in full settlement.
Sold goods costing Rs. 15,000 for 18,000 Put Which Rs. 5,000 recived in
cash.
8. Depreciation on furniture provided @10%
Q.4 Prepare Accounting equation form the following:a)
b)
c)
d)
Started business with cash Rs. 1,00,000
Puranchand goods for cash Rs. 20,000 and on credit Rs. 30,000
Sold goods for cash costing Rs. 15,000 both at a profit of 20%
Paid salaries Rs. 8,000.
Q.5 Show the Accounting equation on the basis of the following transactions-:
1) D. Mahapatra commenced business with cash Rs. 1,50,000; goods Rs.
60,000 ; machinery Rs. 1,00,000 and furniture Rs. 50,000.
2) Depreciation on machinery provided @10%.
3) Cash withdraw for personal use Rs. 10,000.
4)
5)
6)
7)
Interest on drawing charged @ 5%.
Goods sold to Gupta for Rs. 10,000 and.
Received a Bill Receivable for the same amount for 3 months.
Received Rs. 10,000 from Gupta against the Bill Receivable on it maturity.
Q.6 Commenced his cloth business on 1st April, 2012 with a capital of Rs.30,000,on 31st
April ,2013 his assets were Rs. 50,000 and liabilities were Rs. 10,000. Find out his chasing
capital and profit craned during the year.
Q.7 X has following assets and liabilities as on 31st march, 2013. As curtain his capital.
Q.8 Calculate total equity if:1. Owner is equity in the beginning is Rs. 60,000.
2. Equity of creditors at the end is Rs. 50,000.
3. Revenue during the period is Rs. 70,000
4. Expenses during the same period are Rs.65, 000
Also calculate amount of owner’s equity at the end.
Q.9 X started a business on 1st April, 2012 with a capital of Rs. 50,000 and a loan of
Rs. 25,000 borrowed from Y. During 2012-13, he had introduced additional capital
Of Rs. 25,000 and had withdrawn Rs. 1, 50,000. Find out his capital as on 31st March
2013 and profit made or lass incurred during the year 2012-13.
Q.10 On 31st March, 2013 the total assets and external liabilities were Rs. 1, 00,000
And uspectively. During the year, the proprietor has introduced additional capital
Rs. 10,000 and had withdrawn Rs. 6,000 for personal use the made or profit of Rs.
10,000 during the year. Calculate the capital on 1st April, 2012.