PRELIM

XI. Com                                 Marks 50                                           Time 2 Hours

 

 

 

Q1)     Select the most appropriate alternatives from those given below and rewrite the statements.                                                                                                                          (4)

 

1)            Amount withdrawn by the owner for his personal expenses is called ____

a)    Cash                                 b) Drawings              c) Assets.

2)            The process of recording a business transaction in the journal is called____

a)    Posting                            b) Journalizing         c) Balancing

3)            A commodity in which a trader deals is known as _____

a)    Expenditure                    b) goods                    c) income

4)            Amount which is not recoverable from customers is known as ____

a)    PADMA.jpgDebts                                b) bad debts              c) doubtful debts.

Q2:      Define or Explain the following terms:            (any three)                                        (6)

1)            Assets

2)            Insolvent

3)            Goods

4)            Bad Debts

5)            Narration

 

 

 

Q3: Journalize the following transaction in the books of Rajeev                                 (10)    

2011   July

1          Started business with cash ` 2,25,000, Goods worth ` 50,000 and furniture ` 45,000.

2.         Deposited in Dena bank ` 1,50,000.

3.         Bought goods on credit from Manish ` 10,000 at 10% trade discount.

7.         Sold goods to Nilesh of ` 12,000 at 5% trade discount.

11.      Goods worth ` 900 burnt by fire.

17.      Received cash of ` 11,200 from Nilesh in full settlement of his account.

20.      Drew from bank ` 4,000 for his personal use.

23.      Paid cash of ` 8,300 to Manish in full settlement of his account.

25.      Paid house rent ` 2,500.

29.      Sold goods worth ` 12,000 to Dinesh who paid us ` 8,000 on account.

31.      Wages paid ` 6,000.

 

 

 

Q4: From the following transactions pass the Journal Entries and Prepare necessary ledger

account and balance them                                                                                                             20

                                               

2011

Jan 1  Sachin started business with cash `10,000 and Machinery `15,000

1             Purchased goods for cash ` 3,000

3             Sold goods for cash ` 4,000.

5             Purchased furniture on credit from Poona Traders `7,000

8             Purchased goods on credit from Mr. Dilip `2,000 at 10% T.D.

10          Sold goods on credit to Mr. Mahendra ` 8,000 at 12.5% T.D.

15          Paid Rent ` 600

18          Withdrew  cash for personal use `1,000

20          Paid cash to Mr. Dilip `1,800

25          Received cash from Mr. Mahendra ` 6,800 in full settlement.

31          Paid to Miss Sunita ` 400 for salaries.

 

Q5:      From the particulars given below, prepare the subsidiary books and prepare

Purchase A/c, Sales A/c, Purchase Return A/c and Sales Return A/c of Tulsi Traders.

(10)

Feb. 2017

1.         Purchased goods worth `40,000 from Sai Mills Ltd. at 10% trade discount.

2.         Bought goods worth `45,000 from Ram Mills at 10% trade discount.

4.         Cash sales `10,000 off 10% trade discount and 20% cash discount.

PADMA.jpg5.         Purchased goods worth `30,000 from Raja Textiles Mills @10% Trade discount.

6.         Cash purchases `20,000 off 10% T.D.

10.       Sold goods worth `12,000 to Ram Cloth Stores at 10% T.D

18.       Returned goods worth `2,500 (Gross) to Sai Mills.

20.       Returned goods worth `1,400 (Gross) to Ram Mills.

25.       Goods Returned by Ram Cloth stores `500 (Gross). 

28.       Sold old furniture costing `5,000 for `7,500 to M/s. Priya Furniture works.

 

 

 

 

 

 

 

 

 

: Best of Luck :