XI B.K        Prelim       Nov. 2020          Marks 40      Time: 2 Hrs

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

 

1)        ___________ discount is not recorded in the books of accounts.

a) Trade                     b) Cash                                 

c) GST                        d) VAT

 

2)        Recording of transaction in Journal is called ___________.

a) posting                  b) Journalising        

c) narration                d) prime entry

PADMA.jpg

3)        Every Journal entry require ___________.

a) casting                   b) posting                 

c) narration               d) journalising

 

4)         The amount withdrawn by the proprietor from the business for personal use should be debited to ________.            

            (a) Cash A/c              (b) Drawing A/c                   

(c) Bank A/c              (d) Capital A/c

 

5)        __________ is the process of deriving the difference between totals of the debit and credit side of each ledger a/c.

a) Totalling    b) Journalizing          c) Balancing             d) Posting

 

B)        Write one word / term or phrase which can substitute each of the following statement.                                                                                                                        (05)

 

1)        Method of Accounting which records both aspects of transaction.

4)        Accounts of Assets and Properties.

5)        Accounts of Expenses and Losses and Incomes and Gains.

3)        A person to whom amount is payable.

5)        Excess of expenses over income

 

Q2:      Journalise the following transactions in the books of Palak:                  (10)

                       

2020   April

1.         Loan taken from Jaya ` 40,000, deposited into bank.

2.         Purchased Machinery of  ` 95,000 and paid ` 5,000 for freight.

3.         Sold 1000 shares for ` 100 each and paid brokerage @ 1% and amount credited to our account.

4.         Purchased goods worth ` 2,00,000 from Padma on credit.

5.         Sold half of the above goods purchased at 20% profit @ 28% GST and amount received by NEFT.

6.         Received a cheque of ` 8,900 from Mr. Ravi after deducting a cash discount of ` 100.

7.         Sold old furniture of  ` 15,000 for  ` 12,000.

8.         Transferred from Private Bank A/c of proprietor to business Bank A/c ` 20,000

9.         Gave loan to Sanjay by cheque ` 10,000 @ 12% p.a.

10.       Cash Sales of ` 80,000 and deposited 50% amount into bank.

 

Q3:  Enter the following transactions in Simple Cash Book of Mr. Sai for the month of March 2020.                                                                                                                                      (10)

 

Mar.    2020

1.           Started business with cash `50,000.

3.        Cash sales `10,000.

5.           Received `500 from Suresh.

 7.        Paid `400 to Anuradha.

9.           Cash Purchases `2,500.

12.       Paid `500 to Abhay.

PADMA.jpg16.       Paid salaries `5,500.

18.       Cash sales `3,500.

20.       Paid rent `1,500.

22.       Purchased furniture `800.

24.       Paid electricity charges `1,050.

27.       Paid travelling expenses `610.

31.       Withdrawn `500 cash from business for personal use.

 

Q4:     Journalise the following transactions in the books of Padma traders, open necessary ledger accounts and balance the accounts                                       (15)

2020

March

1          Padma started business with Cash ` 50,000, Cash at Bank of India ` 7,000, Furniture ` 10,000.

3          Purchased goods from Rohit worth ` 10,000 less 10% T.D.

7          Sold goods to Sunil ` 5,000 less 5% T.D.

10        Deposited Cash with Bank of India ` 5,000

12        Purchased Furniture from Varma on credit worth ` 20,000.

15        Paid to Varma by net banking ` 8,000

17        Paid Printing expenses ` 200

20        Received Commission ` 200

25        Withdrew Cash from Bank ` 1000 by ATM

28        Paid to Varma ` 11,500 in full settlement of his account.

30        Paid Advertisement bill ` 500.

 

 

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