Q.1) A) Fill in the blanks:                                                                                                 (05)

 

1)        A commodity in which a trader deals is known as ___________.

           a) goods                    b) property                 c) expenditure          d) income

 

2)        Brief explanation of an entry is called as ___________.

           a) folio                        b) narration               c) posting                   d) journalising

 

3)        Debit what comes in, credit what ___________.

           a) giver                       b) expenses and losses      c) goes out    d) none of these

 

4)        All entries are posted from journal to ___________.

           a) ledger                    b) balance sheet                  c) trial balance          d) cash A/c

 

5)        Radha’s Account is a type of ___________ account.

PADMA.jpg           a) nominal                 b) personal                            c) real                         d) expenses

 

B)        State whether the following statements are True or False:                       (05)

1)        Motor car account is a real account.

2)        All transactions are recorded directly in ledger.

3)        Every debit has equal and corresponding credit.

4)        Capital accounts is a nominal account.

5)        Cash discount does not appear in the books of accounts.

 

Q2:      Journalise the following transactions in the books of Ram Trading Company. (10)

2020

May

1          Started business with Cash ` 2,00,000 Bank Balance `4,00,000 and Building `3,00,000

3          Purchased goods from Ram of `50,000 at 18% GST.

5          Sold goods to Rakesh of `70,000 at 18% GST for Cash.

7          Paid for Repairs `5,000.

10        Placed an order with Ranveer and Sons for goods `60,000.

15        Paid for Wages `15,000

18        Purchased goods from Mohan of `1,00,000.

20        Paid for Conveyance Expenses `7,000

25        Purchased goods from Kishor of `50,000 at 28% GST and paid half the amount by Cheque.

31        Withdrew from Bank `10,000 for personal use.

 

Q3:     Journalise the following transactions in the books of Raj traders.        (10)

 

2020

April 1 Raj started business with Cash ` 4,00,000, Building ` 4,00,000.

PADMA.jpg4          Deposited Cash into Dena bank ` 70,000

7          Purchased Computer from Brijesh of ` 30,000 @ 18% GST and paid by Cheque.

10        Cash sales ` 90,000

12        Goods sold on credit to Ganesh ` 10,000 at 5% Trade Discount.

15        Ganesh returned goods of ` 950

18        Goods taken by Raj for his personal use ` 1,000

20        Paid Telephone Charges ` 500 and Taxi Fare ` 200 and carriage of ` 700

22        Paid Transport Charges ` 5,000.

24        Paid Audit Fees ` 5,000 by Cheque.

26        Purchased Furniture of ` 70,000 and amount paid by cheque @ 12% GST.

28        Sold Motor Car worth ` 1,00,000 @ 18% GST and amount received by cheque.

30        Paid cash to Riya ` 15,500, who allowed us discount ` 500.

 

Q4:     Define the following accounting terminologies:    (Any 5)                         (10)

1)        Goods                                    2) Creditors                                       3) Debtors

4)        Capital                                    5) Assets                                           6) Bad debts

7)         Solvent                                  8) Accounting year

 

 

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