Subject Code:124
SIRIUS HIGHER SECONDARY SCHOOL & COLLEGE
SECOND TERMINAL EXAMINATION -2067
Subject: Principles of Accounting [B] FM: 100
Grade: XI PM: 40
Faculty: Management Time: 3 hrs.
Candidates are required to give their answers in their own words as far as practicable. The figure in the margin indicates full marks.
Attempt ALL the questions.
1. List out any 3 errors which cannot be located by Trial Balance. [3]
2. Differentiate the terms capital receipt and Revenue Receipt. [2]
3. What are the parties involved in Cheque? [2]
4. What are the parties involved in Bills of Exchange? [2]
5. Give the meaning of Book-keeping with its two objectives. [3]
6. Write short note about credit note. [3]
7. Why Balance Sheet is Prepared? [2]
8. What are the factors affecting depreciation? [3]
9. Followings are the information given to you.
a) Started Business with cash Balance Rs.5,00,000.
b) Sold goods to Ram on credit Rs.10,000
c) Purchased goods costing Rs.20,000 from Y.
d) Machine Purchased for Rs.6,000
Required: Accounting Equations [4]
10. Followings are the informations:
a) Wages and Salary paid Rs.900 and Rs.50,000 respectively.
b) Rs.2000 withdrawn from Bank for office use.
c) Amount of Rs.10,000 given to Mr.X as loan.
d) Received 10% of amount given to Mr.X as interest.
e) Sold computer Rs.60,000 and received amount by cheque
Required: (i) Journal Entries [5]
(ii) Ledger Accounts:
a) Cash A/C [2]
b) Bank A/C [2]
11. On Jan1, Kamal sold goods to Arjun for Rs.20,000 and drew upon Arjun a bill for three months for the amount Arjun accepted the bill. At March, the bill was honored. Pass the necessary journal entries in the books of Arjun. [2]
12. a. Sold following items to Kumar:
i) 10 Table fans @ Rs. 1100 per unit
ii) 8 siling fans @ Rs.6,000 per unit
b. Sold followings items to Sachin:
i) 12 Presure Cooker @ Rs.800 each
ii) 8 Rice Cooker @ Rs. 1000 each
Required: i) Sales Book [3]
ii) Sales A/C [2]
13. Following informations are provided to you:
a) Returned to R. & R. Co.
i) 6 Telephone sets @ Rs 1,500 each
ii) 1 Camera of Rs.2000 each (Trade discount @ 5% in both)
b) Returned to Rani & Co.
i) 4 electric bells @ Rs.150 each
ii) 3 irons @ Rs1000 each
Required: (a) Purchase Return Book [4]
(b) Purchase Return A/C [2]
14. Prepare Double Column Cash Book. [5]
Magh1 Cash in hand Rs.475, balance at Bank Rs.4965
Magh 5 Bought goods and paid by Cash Rs.400 and by Cheque Rs.650
Magh 10 Paid Archana's A/C of Rs.600 discount at 2%.
Magh 15 Cash Sales Rs.750
Magh 20 Deposited in Bank Rs.375
15. Prepare Triple Column Cash Book. [6]
2067/1/1 Bank Balance Rs.10,000 and cash balance Rs.20,000
2067/1/3 Goods sold for Rs.10,000 and made partial payment made of
Rs.9000
2067/1/10 Cash withdraw from Bank for private use Rs. 25,000.
2067/1/24 Cash received from Hari Rs.1800 after deducting 10% as discount.
2067/1/28 Paid wages & salaries for Rs.200 and Rs. 2,000 respectively
16. Prepare Bank Reconciliation Statement for the followings [6]
a) Balance as per Pass Book Rs. 2,000
b) A cheque of Rs.10,000 has yet not been credited by Bank.
c) Out of the cheque issued for Rs.4000 cheuqe of Rs.2,500 only has been withdrawn.
d) A customer has directly deposited Rs.4,000 into the bank, but not recorded in Cash Book.
e) Bank Charges of Rs100 debited only in Pass Book.
f) Interest earned of Rs 250 credited only in Pass Book.
17. Prepare Trial Balance of ABC Company. [6]
Particulars | Amount | Particulars | Amount |
Opening Stock | 20000 | Furniture | 120000 |
Purchase | 200000 | Creditors | 25000 |
Sales | 300000 | Capital | 200000 |
Return outward | 2000 | Plant and Machinery | 150000 |
Sales Return | 5000 | Wages | 10000 |
Carriage | 9000 | Interest income | 2000 |
Rent | 14000 | Bad debt | 3000 |
Commission received | 2000 |
18. Following information is provided to you.
Particulars | Amount | Particulars | Amount |
Furniture | 18700 | Depreciation | 12900 |
Debtor | 90000 | Closing stock | 51500 |
Sales | 415000 | Patent written off | 4000 |
Rent | 5000 | Commission to salesman | 35000 |
Purchase | 170000 | Carriage on sales | 22000 |
Cash at bank | 17000 | Bad debt | 2000 |
Capital | 200000 | Discount allowed | 4000 |
Salaries | 32000 | Creditors | 10000 |
Stationery | 9000 | Communication | 11500 |
Vehicles | 138400 | Discount allowed | 4000 |
Patent | 10000 | Opening stock | 50000 |
Wages | 21000 | Interest received | 5000 |
Carriage inward | 10000 | ||
Bills payable | 88000 |
Required: a) Trading A/C b) P/L A/C c) Balance Sheet [15]
19. Transactions related to Machinery are as given below:
1st Baishakh 2062 Purchase machinery for Rs. 200000.
1st Kartik 2063 Addition was made to the extent of Rs. 100000.
31st Ashwin 2064 Machinery purchased on 1st Baishakh 2062 was sold for
Rs. 160000 & on the same date a new machine costing Rs. 150000 was purchased.
Depreciation was charged 10% on original cost.
Required: Machinery account for 3 years ending 31st Chaitra each year.
[2+2+4=8]
20. The transaction related to furniture are as following.
1-1-2060 Furniture purchased Rs. 50000.
1-7-2061 Furniture purchased Rs. 40000.
1-1-2062 Furniture purchased on 2060 was sold for Rs. 40000 & another
furniture purchased for Rs. 60000.
Depreciation charged 10% on diminishing balance method. Accounts are closed on 31st -12 (Chaitra) each year.
Required: Furniture account for 3 years. [2+2+4=8]
