ACCOUNTING FRIEND
Tuesday, 13 November 2018
Sunday, 4 November 2018
Saturday, 3 November 2018
Wednesday, 24 October 2018
Financial Statements question paper
Unit Test
Class XI.C Accountancy Marks :20
Time :1 hrs
1. What you mean by Balance Sheet? [2]
2. Explain the concept of Income statements with a sample
format.[6]
3. List out the uses of preparing Income statement and position
statement. [2]
4.
Prepare a Trading Account for the year ended 31st December
2016 from the following balances: [5]
|
Items
|
Rs.
|
Items
|
Rs.
|
|
Opening
Stock
|
4,00,000
|
Purchases
Return
|
1,20,000
|
|
Purchases
|
20,00,000
|
Sales
Return
|
2,00,000
|
|
Sales
|
50,00,000
|
Carriage on
Purchase
|
80,000
|
|
Freight and
Octroi
|
65,000
|
Carriage on
sales
|
1,00,000
|
|
Wages
|
3,00,000
|
Factory
Rent
|
1,20,000
|
|
Factory
Lighting
|
1,08,000
|
Office Rent
|
75,000
|
|
Coal, Gas
and Water
|
22,000
|
Import Duty
|
3,20,000
|
Closing Stock
is valued at Rs. 6,00,000.
5.
From the following particulars, prepare a Profit & Loss Account for
the year ending 31st December, 2017. [5]
|
|
Rs.
|
|
Rs.
|
|
Gross
Profit
|
21,05,000
|
Discount
allowed
|
30,000
|
|
Trade
Expenses
|
20,000
|
Lighting
|
7,800
|
|
Carriage on
Sales
|
1,00,000
|
Commission
Received
|
8,400
|
|
Office
Salaries
|
1,58,000
|
Bad-debts
|
12,000
|
|
Postage and
Telegram
|
7,200
|
Discount
(Cr.)
|
6,000
|
|
Office Rent
|
75,00
|
Interest on
Loan
|
22,000
|
|
Legal
Charges
|
4,000
|
Stable
Expenses
|
14,000
|
|
Audit Fee
|
16,000
|
Export Duty
|
23,000
|
|
Donation
|
11,000
|
Miscellaneous
Receipts
|
5,000
|
|
Sundry
Expenses
|
3,600
|
Unproductive
Expenses
|
41,000
|
|
Selling
Expenses
|
53,200
|
Travelling
Expenses
|
25,000
|
Friday, 12 October 2018
Wednesday, 12 September 2018
Class XI Accountancy Model Question
Term End Exam – 1
Accountancy
Class:
XI. Marks:
70
Time: 3hrs
Answer
All The Questions
1. Explain
the term Accounting (1)
2. Explain
the term accounting concepts (2)
3. What is
your view on the use of Accounting in business? (3)
4. Summaries
the characteristics of Accounting (4)
5. Explain
the concept of Stock with its types (5)
6. Vinod
has the following transactions. Show accounting equation for the same: [6]
(i) Commenced
business with cash Rs.75,000.
(ii) Paid
salary in advance Rs.25,000.
(iii) Sold
goods for cash Rs.20,000 and credit Rs.10,000.
(iv) Purchased
goods costing Rs.20,000 for Rs.30,000.
(v)
Paid Salary Rs.60000
and Salary outstanding Rs.200.
7. Differentiate
the terms Accounting and Business Studies (4)
8. Explain
the term Journalizing (2)
9. Explain
the term Liability With its
classification (6)
10. List
out the Limitations of Accounting (4)
11. Summaries
the Accounting Rules (8)
12. Summaries
the branches of Accounting (5)
13. Identify the debit and credit aspects from the following
transaction
Rs
01 Started business with
cash 100000
04 Cash paid to Hari 5000
07 Purchased goods 8000
12 Cash received from
Amit 20000
16 Sold goods for cash 8000
20 Paid to Manish 5000
25 Paid cartage 1000
31 Paid salary 1,0000 (8)
14. Journalise
the following transactions of Maruthi Ltd:
2017
March. 01 Business started with cash
1,00,000
March. 02 Opened a bank account with
ICICI 4,00,00
March. 04 Goods purchased for cash
10,000
March. 10 Paid cartage 600
March. 12 Goods sold on credit to
M/s Lara India 25,000
March. 14 Cash received from M/s
Lara India 30,000
March. 16 Goods returned from Lara
India 3,000
March. 18 Paid trade expenses 750
March. 19 Goods purchased on credit
from Taranum 32,000
March. 20 Cheque received from M/s
Lara India for final settlement 10,500 and deposited
sameday into bank
March. 22 Goods returned to Taranum
1,500
March. 24 Paid for stationery 1,200
March. 26 Cheque given to Taranum on
account 20,000
March. 28 Paid rent by cheque 4,000
March. 29 Drew cash for personal use
10,000
March. 30 Cash sales 12,000
March. 31 Goods sold to M/s Rupak
Traders 11,000 (10)
15.
Explain
the term Posting (2)
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