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ISC Class XI Notes 2024 : Accounts (Gundecha Education Academy, Mumbai)

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G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD CHAPTER: 5 1. Trial balance is a . (a) Statement (b) Account (c) Ledger (d) Journal 2. After the preparation of ledger, the next step is the preparation of (a) Trading account (b) Trial balance (c) Journal (d) Profit and loss account 3. The trial balance contains the balances of (a) Only personal accounts (b) Only real accounts (c) Only nominal accounts (d) All accounts 4. Which of the following is/are the objective(s) of preparing trial balance? (a) Serving as the summary of all the ledger accounts (b) Helping in the preparation of final accounts (c) Examining arithmetical accuracy of accounts (d) a, b and c 5. While preparing the trial balance, the accountant finds that the total of the credit column is short by ` 200. This difference will be .. (a) Debited to suspense account (b) Credited to suspense account (c) Adjusted to any of the debit balance (d) Adjusted to any of the credit balance 6. A list which contains balances of accounts to know whether the debit and credit balances are matched is . (a) Journal (b) Day book (c) Trial balance (d) Balance sheet 7. Which of the following method(s) can be used for preparing trial balance? (a) Balance method (b) Total method (c) Total and Balance method (d) a, b and c 8. The account which has a debit balance and is shown in the debit column of the trial balance is (a) Sundry creditors account (b) Bills payable account (c) Drawings account (d) Capital account 9. The difference of totals of both debit and credit side of trial balance is transferred to .. (a) Trading account (b) Difference account (c) Suspense account (d) Miscellaneous account 10. Trial balance is prepared . (a) At the end of the year (b) On a particular date B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 4 (c) For a year (d) None of the above www.nammakalvi.in G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD CHAPTER: 6 1. Purchases book is used to record .. (a) all purchases of goods (b) all credit purchases of assets (c) all credit purchases of goods (d) all purchases of assets 2. A periodic total of the purchases book is posted to the .. (a) Debit side of the purchases account (b) debit side of the sales account (c) credit side of the purchases account (d) credit side of the sales account 3. Sales book is used to record . (a) all sales of goods (b) all credit sales of assets (c) all credit sales of goods (d) all sales of assets and goods 4. The total of the sales book is posted periodically to the credit of (a) Sales account (b) Cash account (c) Purchases account (d) Journal proper 5. Purchase returns book is used to record . (a) Returns of goods to the supplier for which cash is not received immediately (b) returns of assets to the supplier for which cash is not received immediately (c) returns of assets to the supplier for which cash is received immediately (d) None of the above 6. Sales return book is used to record .. (a) Returns of goods by the customer for which cash is paid immediately (b) Returns of goods by the customer for which cash is not paid immediately (c) Returns of assets by the customer for which cash is not paid immediately (d) Returns of assets by the customer for which cash is paid immediately 7. Purchases of fixed assets on credit basis is recorded in . (a) Purchases book (b) Sales book (c) Purchases returns book (d) Journal proper 8. The source document or voucher used for recording entries in sales book is (a) Debit note (b) Credit note (c) Invoice (d) Cash receipt B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 5 G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD 9. Which of the following statements is not true? (a) Cash discount is recorded in the books of accounts recorded in journal proper (b) Assets purchased on credit are (c) Trade discount is recorded in the books of accounts (d) 3 grace days are added while determining the due date of the bill 10. Closing entries are recorded in . (a) Cash book (b) Ledger (c) Journal proper (d) Purchases book CHAPTER: 7 1. Cash book is a . (a) Subsidiary book (b) Principal book (c) Journal proper (d) Both subsidiary book and principal book 2. The cash book records .. (a) All cash receipts (b) All cash payments (c) Both (a) and(b) (d) All credit transactions 3. When a firm maintains a simple cash book, it need not maintain . (a) Sales account in the ledger (b) Purchases account in the ledger (c) Capital account in the ledger (d) Cash account in the ledger 4. A cash book with discount, cash and bank column is called .. (a) Simple cash book (b) Double column cash book (c) Three column cash book (d) Petty cash book 5. In Triple column cash book, the balance of bank overdraft brought forward will appear in (a) Cash column debit side (b) Cash column credit side (c) Bank column debit side (d) Bank column credit side 6. Which of the following is recorded as contra entry? (a) Withdrew cash from bank for personal use (b) Withdrew cash from bank for office use (c) Direct payment by the customer in the bank account of the business (d) When bank charges interest 7. If the debit and credit aspects of a transaction are recorded in the cash book, it is (a) Contra entry (b) Compound entry (c) Single entry B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 6 (d) Simple entry G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD 8. The balance in the petty cash book is . (a) An expense (b) A profit (c) An asset (d) A liability 9. Petty cash may be used to pay . (a) The expenses relating to postage and conveyance (b) Salary to the Manager (c) Purchase of furniture and fixtures (d) Purchase of raw materials 10. Small payments are recorded in a book called .. (a) Cash book (b) Purchase book (c) Bills payable book (d) Petty cash book CHAPTER: 8 1. A bank reconciliation statement is prepared by .. (a) Bank (b) Business (c) Debtor to the business (d) Creditor to the business 2. A bank reconciliation statement is prepared with the help of (a) Bank statement (b) Cash book (c) Bank statement and bank column of the cash book (d) Petty cash book 3. Debit balance in the bank column of the cash book means .. (a) Credit balance as per bank statement (b) Debit balance as per bank statement (c) Overdraft as per cash book (d) None of the above 4. A bank statement is a copy of (a) Cash column of the cash book (b) Bank column of the cash book (c) A customer s account in the bank s book (d) Cheques issued by the business 5. A bank reconciliation statement is prepared to know the causes for the difference between (a) The balance as per the cash column of the cash book and bank column of the cash book (b) The balance as per the cash column of the cash book and bank statement (c) The balance as per the bank column of the cash book and the bank statement (d) The balance as per petty cash book and the cash book 6. When money is withdrawn from bank, the bank . (a) Credits customer s account (b) Debits customer s account (c) Debits and credits customer s account (d) None of these B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 7 www.nammakalvi.in G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD SIMPLE JOURNAL ENTRIES 1. Commenced business with cash Rs. 500000 2. Commenced business with stock Rs. 17800 3. Commenced business with cash Rs. 50000, Buildings Rs. 100000, 4. Cash purchases Rs. 2500 5. Bought goods for cash Rs. 1850 6. Purchased goods by paying cash Rs. 3690 7. Bought goods from Ravi by cash Rs. 750 8. Bought goods from Kannan on credit Rs. 565 9. Purchased goods through NEFT Rs.420 10. Bought goods through Credit card Rs.320 11. Bought goods through debit card Rs. 960 12. Purchase returns Rs. 245 13. Cash sales Rs. 8000 14. Sold goods by paying cash Rs. 4500 15. Sold goods to Vijay by cash Rs. 6900 16. Sold goods for cash Rs.2400 17. Sold goods to Ramu on credit Rs.850 18. Sold goods through credit card Rs.630 19. Sales returns Rs.250 20. Cash deposited into bank Rs.360 21. Cash withdrew from bank Rs. 975 23. Cash withdrew from bank for office use Rs.755 24. Cash withdrew from bank for personal use Rs. 680 25. Cash paid to Somu Rs. 380 26. Cash received from Rani Rs.450 27. Electricity charges paid Rs. 700 B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 41 MARKS: 50 G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD 28. Rent paid Rs. 1500 29. Salaries paid by cheque Rs. 6800 30. Advertisement charges paid Rs. 2000 31. Travelling expenses paid Rs. 450 32. Discount allowed Rs.690 33. Insurance premium paid Rs. 360 34. Dividend received Rs. 8750 35. Commission received Rs. 5080 36. Bought furniture Rs. 50000 37. Bought motor car from Ganesh Rs. 300000 38. Sold buildings Rs. 125000 39. Sold machinery to Ram Rs. 8500 40. Borrowed loan from bank Rs. 25000 41. Bank charges levied Rs. 780 42. Stationery purchased for and paid through net banking Rs. 850 43. Paid A and Co. through RTGS Rs. 300 44. Dividend directly received by bank Rs.6800 45. Money withdrawn from ATM Rs.7500 46. Salaries paid through ECS Rs.10000 47. Insurance paid by the bank as per standing instructions Rs. 2,000 48. Bad debts Rs.6000 49. Bad debts recovered Rs.850 50. Depreciation on furniture Rs. 100 B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 42 G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD OTHER JOURNAL ENTRIES MARKS: 25 1. Opened a bank account by depositing cash 1, 00,000 2. A 4 papers sold on credit to Padmini and Co. 60,000 3. Bills received from Padmini and Co. for the amount due 4. Bills received from Padmini and Co. discounted with the bank 58,000 5. Bills of Padmini and Co. Dishonoured 6. Paid ` 4,800 in full settlement of ` 5,000 due to the creditor, Keerthana. 7. Dinesh, a customer is declared insolvent and 40 paise in rupee is received for his due 10,000. 8. Towels given as charities 3,000 9. Shirts taken over by Ananth for personal use 12,000 10. Sarees distributed as free samples 3,000 11. Goods (table clothes) used for office use 200 12. Building purchased from Kumar for 1,00,000 and an advance of 20,000 is given in cash 13. Purchased goods from X and Co. on credit 40,000 14. Accepted bill drawn by X and Co. 20,000 15. Paid by cash the bill drawn by X and Co. 16. Sold goods to D and Co. on credit 10,000 17. Received cheque from D and Co. in full settlement and deposited the same in bank 9,000 18. Goods costing ` 40,000 was sold and cash received 50,000 19. Income tax of Deri is paid by cheque 10,000 20. Sales made to Kumar, who deposited the money through CDM 10,000 21. Cricket bats donated to a trust 10,000 22. Cricket bats donated to a trust 10,000 23. Lunch provided at free of cost to a charity 1,000 24. Bank charges for locker rent 1,000 25. Electricity charges paid for proprietor s home 500 B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 43 G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD State whether the balance of the following accounts should be placed in the debit or the credit column of the trial balance: SL.NO PARTICULARS 1. Commission received 2. Rent paid 3. Copy right 4. Mortgage 5. Bank loan 6. Bank balance 7. Bank charges 8. Royalty 9. Bad debts recovered 10. Machinery 11. Buildings 12. Discount earned 13. Sales 14. Capital 15. General reserves 16. Apprenticeship premium 17. Patent 18. Closing stock 19. Adjusted purchases 20. Import duty 21. Drawings 22. Salaries paid 23. Factory rent ASPECT B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 46 G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD 24. Coal and gas 25. Lighting charges 26. Preliminary expenses 27. Dock dues 28. Insurance premium paid 29. Depreciation 30. Bank overdraft 31. Goodwill 32. Opening stock 33. Pledge 34. Loose tools 35. Electricity charges paid 36. Sundry debtors 37. Cash at bank 38. Marketable securities 39. Short term investments 40 Travelling expenses 41. Rent and rates 42. Bills payable 43. Motor car 44. Sweepers charge 45. Excise duty 46. Petty cash 47. Advertisement 48. Sundry creditors 49. Bills receivable 50. Postage and stamps B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 47 www.nammakalvi.in G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD Find out the due date for the bills SL.NO DATE OF PERIOD DAYS OF BILL OF BILL GRACE 1. March, 1 2 months 3 2. July, 12 1 month 3 3. October, 1 30days 3 4. April, 2 2 months 3 5. March, 10 3 months 3 6. January, 2 60 days 3 7. September, 6 30 days 3 8. November, 4 60 days 3 9. March, 1 1 month 3 10. June, 1 2 months 3 B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 48 DUE DATE G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD CLASSIFY THE ACCOUNTS INTO PERSONAL, REAL & NOMINAL ACCOUNTS SL.NO PARTICULARS 1. Cash at bank 2. State Bank of India 3. Prepaid insurance premium 4. Copyright 5. Wages paid 6. Outstanding salaries 7. Furniture 8. Sales 9. Purchases 10. Kumar 11. BHEL 12. Rent received 13. Machinery 14. Advertisement 15. Ganesh 16. Equitas bank 17. Loose tools 18. TVS company 19. Capital 20. Motor car 21. Electricity charges 22. Cash in hand 23. Travelling expenses 24. Computer 25. Wipro Classification B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 49 G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD Mention the subsidiary books in which the following transactions are recorded. SL.NO PARTICULARS 1. Purchase of goods for cash 5000 2. Sale of goods on credit 8500 3. Bought goods from Ragu 2630 4. Return goods to Ragu 630 5. Purchase of the asset 200000 6. Sale of the asset 50000 7. Sold goods to Vijaya 9000 8. Return goods from Vijaya 2000 9. Bought motor car from Guru 600000 10. Sold old buildings 1000000 11. Sold goods to Ganesh 7500 12. Purchase of laptop 50000 13. Sold laptop 35000 14. Bought goods from Revathi for cash 4500 15. Goods returned to Revathi 500 B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 50 MENTION THE SUBSIDIARY BOOK G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD HOW IT WILL APPEAR IN THE FINAL ACCOUNTS SL.NO PARTICULARS 1. Prepaid insurance premium 2. Outstanding salary 3. Closing stock 4. Rent received in advance 5. Depreciation on furniture 6. Interest on capital 7. Outstanding interest on loan 8. Accrued interest on investment 9. Interest on drawings 10. Bad debts 11. Income tax 12. Managers commission 13. Provision for bad and doubtful debts 14. Accrued commission 15. Provision for discount on debtors B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 51 Appearing in final accounts G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD TWO MARKS TEST:- 10X2=20 1. Supply the missing amount on the basis of accounting equation:Assets = liabilities 20000 = ? = 15000 5000 + capital + ? + 10000 2. Supply the missing amount on the basis of accounting equation:Assets = liabilities 50000 = ? = ? 300000 + + capital 24000 + 50000 3. If the capital of a business is Rs. 3,00,000 and other liabilities are Rs. 2,00,000, calculate the total assets of the business. 4. If the total assets of a business is Rs. 3,60,000 and capital is Rs. 2,00,000, calculate the liabilities. 5. If the total assets of a business is Rs. 4,50,000 and capital is Rs. 2,50,000, calculate the capital. 6. Classify the following items into real , personal, and nominal accounts a) Capital b) purchases c) copy right d) Ramesh 7. Classify the following items into real , personal, and nominal accounts b) Kavitha b) Indian overseas bank c) Goodwill d) Dividend 8. Mention the subsidiary books in which the following transaction. a) Purchased goods from Kannan Rs. 85,000 b) Defective goods returned by somu Rs. 6,000 9. Indicate the nature of normal balance in following accounts. a) Motor car b) Electricity bill paid c) Dividend received d) debtors 10. Indicate the nature of normal balance in following accounts. b) Land b) Rent paid c) interest received d) creditors B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 56 G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD 3. What do the following journal entries mean? a) Rent A/c Dr 3500 To cash A/c 3500 b) Cash A/c Dr 1700 To Commission A/c 1700 c) Cash A/c Dr 58,000 To Bank A/c 58,000 4. Enter the following transactions in the single column cash book of Mr. Sugumar. 2005 sep 1 cash in hand Rs. 46,000 3 paid in to bank Rs, 12,000 5 cash received from Kasi Rs. 3,000 8 printing charges Rs. 3,000 12 Dividend received Rs. 2000 5. Enter the following transactions in the single column cash book of Ms. Kokila. 2002 Mar 1 cash in hand Rs. 20,000 7 cash purchases Rs, 4,000 9 cash received from Kasi Rs. 3,000 15 computer purchased Rs. 15,000 22 Rent paid Rs. 2000 6. Classify as capital and revenue ;i. Legal expense paid for raising of loans. ii. Replacement of old furniture. iii. Renewal of magazine subscription fee Rs. 100 7. Classify as capital and revenue ;i. Rs. 6,00,000 spent on research and development ii. Rs. 500 paid for fuel iii. Rs. 600 was spent on alteration of a machinery in order to reduce power consumption. B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 58 www.nammakalvi.in G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD 8. Classify as capital and revenue ;i. ii. iii. They had old machinery of value Rs. 10,000 was sold for R. 9,500 Rs. 2000 spent for installing machinery. Rs. 300 spent for ordinary repairs of plant. 9. The following are some of the balances extracted from the ledger of Mr.Sundaram as on 31st December 2000. Prepare a trading account. Stock (1.1.2000) 12,500 Purchases 1,00,000 Sales 1,50,000 Returns outwards 5,000 Returns inwards 10,000 Salaries 4,400 Wages 7,500 Rent 2,750 Carriage inwards 2,500 Carriage outwards 750 Power, coal, gas 1,000 Stock on 31.12.2000 was valued at Rs.14,000. 10. The following balances are taken from the books of M/s. RSP Ltd. Prepare profit and loss account for the year ended 31st March 2002. Gross profit 5,25,000 Rent 10,000 Interest on loan 5,000 Distribution charges 2,500 Bad debts 2,200 Commission received 3,000 Interest received 5,000 Taxes and insurance 2,000 B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 59 Salaries & wages 1,00,000 Depreciation 5,000 Office expenses 1,500 Salesman salary 8,000 Stationery and printing 500 Discount received 2,000 Advertising 9,000 G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD PETTY CASH BOOK CLASS:XI I) Answer the following questions: MARKS:20 2X2=4 1. What is petty cash book? 2. Draw the format of analytical petty cash book. II) Answer the following questions: 3x3=6 3. Explain the meaning of imprest system of petty cash book. 4. Write the advantages of maintaining petty cash book. III) Answer the following questions: 2x5=10 5. From the following information prepare an analytical petty cash book under imprestsystem: 2017, Oct. 1 Received from the cashier 2,500 2 Paid for wages 260 5 Paid for stationery 300 6 Bus fare to workmen 200 12 Refreshment to customers 180 16 Paid for carriage 160 20 Paid for conveyance 188 25 Paid for travelling expenses 320 27 Paid for revenue stamps 48 28 Paid for office cleaning 140 B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 60 G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD 29 Pain for letters by registered post to suppliers 180 30 Paid for taxi hire 219 6. Enter the following transactions in Iyyappan s petty cash book with analytical columnsunder imprest system. 2017, Jan. 1 Balance on hand 250 1 Cash received from the chief cashier 1,050 2 Purchased pencil, rubber and paper 200 4 Sent documents to Head Office by registered post 120 5 Travelling expenses paid to salesman 150 7 Paid for sundry expenses 60 9 Paid for office expenses 50 11 Paid for letter pad 175 13 Paid to Amutha on account 66 15 Paid for repairs to furniture 78 18 Carriage paid 83 20 Bought postal stamps 55 22 Paid for telephone charges 175 B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 61 G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD 5 MARKS TEST (JOURNAL, LEDGER, TRIAL BALANCE) ACCOUNTANCY TEST - 1 CLASS: XI STD MARKS: 15 I) ANSWER THE FOLLOWING QUESTIONS:- 3X5=15 1. Raja has a hotel. Journalise the following transactions. Jan.1 Started business with cash 3,00,000 2 Purchased goods from Rajiv on credit 1,00,000 3 Cash deposited with the bank 2,00,000 20 Borrowed loan from bank 1,00,000 22 Withdrew from bank for personal use 800 23 Amount paid to Rajiv in full settlement through NEFT 99,000 25 Received rent by cheque 200 26 Paid electricity bill of the proprietor s house through debit card 2,000 31 Lunch provided at free of cost to a charity 1,000 31 Bank levied charges for locker rent 1,000 2. Pass Journal entries for the above transactions and prepare ledger accounts. Bharathi is a sole trader dealing in oil products for the past five years. The books of accounts showed the following balances on 1st April, 2018: Cash in hand ` 25,000; Cash at bank ` 3, 00,000. The following transactions took place for the month of April 2018. April 1 Goods bought by giving cheque ` 30,000 5 Goods sold to Naveen and payment received through NEFT ` 40,000 6 Goods sold to Xavier for cash ` 20,000 9 Goods sold on credit to Abdul for ` 25,000 18 Cash received from Abdul ` 10,000 3. Balan who has a car driving school gives you the following ledger balances. Prepare trial balance as on 31st December, 2016. Computer ` 26,000 Freehold land ` 30,000 Salaries to drivers Taxes and insurance 4,000 Bank loan 16,500 Fees received 15,000 18,150 Fuel and Power Rent and rates 2,000 Capital 1,500 Advertisement B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 62 53,850 7,000 G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD 5 MARKS TEST (JOURNAL, LEDGER, TRIAL BALANCE) ACCOUNTANCY TEST-2 CLASS: XI STD MARKS: 15 I) ANSWER THE FOLLOWING QUESTIONS:- 3X5=15 1. Karthick opened a provisions store. Journalise the following transactions. 2017, April 1 Paid into bank for opening a current account ` 2,00,000 3 Goods purchased by cheque ` 40,000 5 Investments made in securities ` 40,000 6 Goods sold to Radha for ` 20,000 and cheque received and deposited into bank 7 Amount withdrawn from bank for office use ` 15,000 10 Purchased goods from Kamala and cash deposited in CDM `10,000 12 Sold goods to Vanitha who paid through debit card ` 10,000 15 Interest on securities directly received by the bank ` 1,000 20 Insurance paid by the bank as per standing instructions ` 2,000 25 Sales made to Kunal who made payment through CDM ` 6,000 2. Give journal entries for the following transactions and post them to ledger. 2016, Sep 1 Commenced business with cash 80,000 7 Bought goods for cash from Roopan 10,000 10 Purchased goods from Hema on credit 42,000 22 Goods returned to Hema 2,000 23 Cash paid to Hema 10,000 3. Prepare the trial balance from the following balances of Rajesh as on 31st March, 2017. Bills receivable Bank charges Conveyance charges Discount received Cash in hand ` 13,000 Drawings 750 Sundry debtors 350 Bills payable 1,300 Capital 1,000 B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 63 ` 7,000 17,100 12,000 25,900 www.nammakalvi.in G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD 5 MARKS TEST (JOURNAL, LEDGER, TRIAL BALANCE) ACCOUNTANCY TEST- 3 CLASS: XI STD MARKS: 15 I) ANSWER THE FOLLOWING QUESTIONS:- 3X5=15 1. Mary is a cement dealer having business for more than 5 years. Pass journal entries in her books for the period of March, 2018. March 1 Cement bags bought on credit form Sibi 20,000 2 Electricity charges paid through net banking 500 3 Returned goods bought form Sibi 5,000 4 Cement bags taken for personal use 1,000 5 Advertisement expenses paid 2,000 6 Goods sold to Mano 20,000 7 Goods returned by Mano 5,000 8 Payment received from Mano through NEFT. 2. Journalise the following transactions and post them to the ledger. 2017 July 1 Cash in hand 50,000 5 Goods purchased by cash 30,000 7 Insurance paid 2,500 10 Machinery purchased for cash 9,000 15 Interest received 2,000 18 Goods sold for cash 7,000 3. From the following balances extracted from the books of Raju a trader on automobiles, prepare trial balance as on 31 st March, 2017: Particulars Cash in hand Discount received Creditors Buildings Opening stock ` Particulars 5,500 300 15,000 50,000 6,000 Direct expenses Carriage outwards Capital Purchases Sales B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 64 ` 5,000 3,500 45,000 49,700 59,400 G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD 5 MARKS TEST (JOURNAL, LEDGER, TRIAL BALANCE) ACCOUNTANCY TEST- 4 CLASS: XI STD MARKS: 15 I) ANSWER THE FOLLOWING QUESTIONS:- 3X5=15 1. Deri is a sole trader dealing in automobiles. From the following transactions, pass journal entries for the month of January, 2018. Jan. ` 1 Commenced business with cash 1,00,000 with goods 2,00,000 with buildings 5,00,000 2 Purchased goods from A and Co. on credit 3,00,000 3 Cash deposited into bank 80,000 4 Purchased goods from B and Co. and payment made through credit card 5,000 5 Paid A and Co. through RTGS 6 Sold goods to C and Co. and cheque received 50,000 7 Deposited the cheque received from C and Co. with the bank 8 Purchased goods from Z & Co. and paid through debit card 12,000 9 Stationery purchased for and paid through net banking 6,000 10 Income tax of Deri is paid by cheque 10,000 B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 65 G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD 2. The following are the transactions of Kumaran, dealing in stationery items. Prepare ledger accounts. 2017, June 5 Started business with cash ` 2,00,000 8 Opened bank account by depositing ` 80,000 12 Bought goods on credit from Sri Ram for ` 30,000 15 Sold goods on credit to Selva for ` 10,000 22 Goods sold for cash ` 15,000 25 Paid Sri Ram ` 30,000 through NEFT 28 Received a cheque from Selva and deposited the same in bank ` 10,000 3. From the following balances extracted from the books of Pearl, a trader, prepare trial balance as on 31st March, 2017. Particulars Capital Bills receivable Wages Drawings Purchases ` Particulars 44,000 Interest on investment 5,000 Customs duty 800 Computer 4,000 Sales 75,000 Opening stock B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 66 ` 2,000 3,000 20,000 72,000 10,200 G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD 5 MARKS TEST (JOURNAL, LEDGER, TRIAL BALANCE) ACCOUNTANCY TEST- 5 CLASS: XI STD MARKS: 15 I) ANSWER THE FOLLOWING QUESTIONS:3X5=15 1. Ananth is a trader dealing in textiles. For the following transactions, pass journal entries for the month of January, 2018. Jan. 1 Commenced business with cash 70,000 2 Purchased goods from X and Co. on credit 30,000 3 Cash deposited into bank 40,000 4 Bought a building from L and Co. on credit 95,000 5 Cash withdrawn from bank for office use 5,000 6 Cash withdrawn from bank for personal use of Ananthu 4,000 7 Towels given as charities 3,000 8 Shirts taken over by Ananth for personal use 12,000 9 Sarees distributed as free samples 3,000 10 Goods (table clothes) used for office use 200 2. Journalise the transactions given below and post them to ledger. 2017 ` Oct 18 Paid trade expenses 1,000 25 Bought postage stamps 100 30 Commission received 6,000 30 Rent paid 4,000 3. From the following balances extracted from the books of Rajeshwari as on 31st March, 2017, prepare the trial balance. Cash at bank Sundry debtors Furniture & Fixtures Office equipment Adjusted purchases Sales returns Closing stock Sales ` 28,000 59,600 1,72,000 1,10,000 2,80,000 3,000 15,000 2,36,000 Rent and rates Bank charges Bad debts Drawings Insurance premium Capital Sundry creditors Loan (Cr.) B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 67 ` 4,000 400 4,000 20,000 4,000 3,00,000 64,000 1,00,000 G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD 5 MARKS TEST (LEDGER) Journalise the following transactions and post them into concerned ledgers:- MARKS: 25 5X5=25 1. Enter the following transactions in the books of Ganesan and post them into ledger. (Cash A/c, Bank A/c, Drawings A/c) 2017 ` Oct 1 Started business with cash 25,000 5 Deposited into bank 12,500 10 Purchased furniture and payment by cheque 2,000 15 Goods purchased for cash 5,000 19 Sold goods to Vasu on credit 4,000 22 Goods worth ` 500 taken for personal use 2. Journalise the following transactions and post them to the ledger. (Cash A/c, Purchase A/c, Machinery A/c) 2017 ` July 1 Cash in hand 50,000 5 Goods purchased by cash 30,000 7 Insurance paid 2,500 10 Machinery purchased for cash 9,000 15 Interest received 2,000 18 Goods sold for cash 7,000 3. Prepare Anand s account from the following details. 2017 ` July 1 Credit balance of Anand s A/c 4,000 15 Amount paid to Anand 2,000 18 Goods purchased from Anand on credit 8,000 20 Paid to Anand 3,960 Discount allowed by him 40 25 Goods purchased from Anand 5,000 4. Give journal entries and post them to cash account. 2016 ` June 1 Commenced business with cash 1,10,000 10 Introduced additional capital 50,000 28 Withdrawn for personal use 20,000 5. Give Journal entries for the following transactions and post them to Cash a/c and Sales A/c. 2017 ` Aug 10 Sold goods and cheque received but not deposited 30,000 14 Sold goods on credit to Gopi 12,000 20 Received cash from Gopi 12,000 B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 68 G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD UNIT TEST (TRIAL BALANCE) MARKS: 25 1. Prepare Trial balance for the following transactions:- 3X5=15 1. The following balances are extracted from the books of Ravichandran on 31st December, 2016. Prepare the trial balance. Capital Debtors Rent received Bank overdraft Creditors Premises Opening stock Purchases ` 1,50,000 22,800 500 3,100 5,500 1,46,000 10,000 45,000 Sales Return inwards Discount allowed Discount received Wages Salaries Commission paid General expenses ` 75,000 1,000 800 1,000 2,900 3,500 1,100 2,000 2. . Prepare the trial balance from the following balances of Karthik as on 31st March, 2017. ` ` Rent and Taxes 5,000 Rent 6,000 Discount allowed 350 General expenses 3,000 Capital 10,000 Legal expenses 2,000 Insurance premium 4,000 Purchases 40,000 Drawings 5,000 Sales 55,350 3. From the following balances of Arjun, prepare the trial balance as on 31st March, 2018. ` ` Cash at bank 12,500 Discount received 1,675 Opening stock 25,000 Postage 425 Insurance 1,500 Bills payable 5,600 Purchases 45,000 Capital 20,000 Wages 1,750 Sales 58,900 4. State whether the balance of the following accounts should be placed in the debit or the credit column of the trial balance: 10X1=10 (i) Carriage outwards (ii) Carriage inwards (iii) Sales (iv) Purchases (v) Bad debts (vi) Interest paid (vii) Interest received (viii) Discount received (ix) Capital (x) Drawings B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 69 G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD 5 MARKS TEST (SUBSIDIARY BOOKS - I) MARKS: 25 I) ANSWER THE FOLLOWING QUESTIONS:- 5X5=25 1. Enter the following credit transactions in the purchases book of Manoharan, a Provisions Merchant. 2017 May 2 Bought from Vasu 100 bags of rice @ 800 per bag May 8 Bought from Cheyyar Sugar Mills Ltd., 20 bags of sugar @ 2,600 per bag May 10 Bought from Ram Flour Mill, Coimbatore,10 bags of wheat flour @ 750 per bag May 15 Bought from Nilgiri Tea Co., Nilgiris, 15 cases of tea @ 900 per case May 25 Bought from Sairam Coffee Works Ltd.,100 kgs of Coffee @190 per kg. May 29 Bought from X & Co. furniture worth 2,000 2. Enter the following transactions in proper subsidiary books. 2003, March 1 Purchased goods from Balaraman Rs.2000 2 Sold goods to Senthil Rs.1,000 3 Goods purchased from Durai Rs.1,000 5 Sold goods to Saravanan Rs.700 8 Sold goods to Senthil Rs.500 10 Purchased goods from Elangovan Rs.600 14 Purchased goods from Parthiban Rs.300 20 Sold goods to Sukumar Rs.600 3. Record the following transactions in the sales book and sales returns book of M/s. Ponni & Co., and post them to ledger. 2017 Aug 1 Sold goods to Senthil as per Invoice No. 68 for ` 20,500 on credit Aug 4 Sold goods to Madhavan as per Invoice No. 74 for ` 12,800 on credit Aug 7 Sold goods to Kanagasabai as per Invoice No. 78 for ` 7,500 on credit B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 70 www.nammakalvi.in G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD Aug 15 Returns inward by Senthil as per Credit Note no. 7 for ` 1,500 for which cash is not paid Aug 20 Sold goods to Selvam for ` 13,300 for cash Aug 25 Sales returns of ` 1,800 by Madhavan as per Credit Note No. 11 for which cash is not paid 4. From the following transactions write up the Sales day book of M/s. Ram & Co., a stationery merchant. 2017 Jan. 1 Sold to Anbu& Co., on credit 20 reams of white paper @ ` 150 per ream Jan. 2 Sold to Jagadish& Sons on credit 6 dozen pens @ ` 360 per dozen Jan. 10 Sold old newspapers for cash @ ` 620 Jan. 15 Sold on credit M/s. Elango& Co., 10 drawing boards @ ` 170 per piece Jan. 20 Sold to Kani & Co., 4 writing tables at ` 1,520 per table for cash 5. Enter the following transactions in the proper subsidiary books of Suman who is dealing in electronic goods for the month of January, 2017. 2017 Jan. 2 Purchased from M/s. Raj Electronics on credit 20 cell phones @ ` 5,500 per piece 10 colour TVs @ ` 14,500 per piece Jan. 5 Purchased from M/s. Ruby Electronics on credit 10 radios @ ` 1,650 per piece 8 Tape recorders @ ` 2,500 per piece Trade discount on all items @ 10% Jan. 10 Returned to M/s. Raj Electronics 4 cell phones damaged and cash not received Jan. 20 Purchased from M/s. Suganthi Electronics on credit 10 radios @ ` 3,700 per piece 2 Sony colour TVs @ ` 27,000 per piece Trade discount @ 5% on all items B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 71 G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD 5 MARKS TEST (SUBSIDIARY BOOKS - II) MARKS: 25 I) ANSWER THE FOLLOWING QUESTIONS:-5X5=25 1. From the following particulars, prepare single column cash book of Ms.Kokila. 2002 Mar.1 Cash in hand Rs.20,000. 4 Cash purchases Rs.4,000. 7 Cash sales Rs.8,000. 8 Paid to Balan Rs. 5,000 9 Received cash from Cheran Rs.10,000. 13 Paid into bank Rs.10,000. 14 Cash withdrawn from bank Rs.4,000. 18 Paid salaries Rs.1,000. 20 Bought furniture Rs.3,000. 28 Rent paid Rs. 1,000. 2. Record the following transactions in the analytical petty cash book of Mr.Manoharan. Balance the book on 6th May, 2003. 2003, May 1. Received for petty cash payment Rs.1,500 2. Paid taxi hire Rs. 250 3. Bought stamps Rs. 75 4. Paid for carriage Rs. 120 4. Paid for Telegrams Rs. 75 4. Paid for auto Rs. 125 5. Paid for carriage Rs. 300 6. Bought revenue stamps Rs. 50 3. Prepare Petty Cash Book on imprest system from the following particulars. 2003, Sept. 1. Received for petty cash payments Rs.1,000 4. Paid for stationery Rs. 140 9. Paid for postage Rs.80 10. Paid for printing charges Rs. 150 11. Paid for carriage Rs. 125 17. Paid for telegrams Rs.25 20. Purchased envelops Rs. 30 21. Paid for coffee to office staff Rs. 30 22. Paid for office cleaning Rs. 50 30. Paid to Rajesh Rs. 200 B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 72 G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD 4. Enter the following transactions in cash book with discount and cash column of Anand 2017, Dec. ` 1 Cash in hand 19,500 4 Sold goods for cash 32,000 5 Credit purchases from Gandhi 20,000 9 Received from Gopu 11,800 Discount allowed to him 200 15 Cash paid for Electricity charges 12,500 17 Bought computer and its accessories by cash 16,800 25 Paid cash to Gandhi ` 19,700 in full settlement of his account 28 Received cash from Thiruvengadam 8,900 Discount allowed to him 100 30 Paid trade expenses in cash 3,500 5. From the following transactions prepare three column cash book of Udhayakumar 2017 ` Sep 1 Cash balance 25,000 1 Bank Balance (cr.) 13,070 3 Paid into bank 15,000 4 Received cash from Shyamala & Co., 9,380 Discount allowed to them ` 120 10 Goods sold for cash 7,600 11 Cash purchases 11,750 12 Gave Padma a Cheque for ` 21,375 and was allowed a discount of 125 18 Purchased a printer by cheque 7,600 23 Received cash from Rajasekar 14,320 Discount allowed to him ` 180 B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 73 G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD FINAL ACCOUNTS MARKS: 30 I.ANSWER THE FOLLOWING QUESTIONS: 10X3=30 1. Ascertain gross profit or gross loss from the following: Opening stock 20,000 Closing stock 15,000 Purchases90,000 Sales 2,00,000 Carriage on purchases 5,000 Carriage on sales 3,000 Office rent 2,200 2. Compute cost of goods sold from the following information: Opening stock 10,000 Purchases 80,000 Direct expenses 7,000 Indirect expenses 5,000 Closing stock 15,000 3. Find out the amount of sales from the following information:Opening stock 30,000 Purchases less returns 2,00,000 Closing stock 20,000 Gross profit margin (on sales) 30% 4. Ascertain net profit or net loss from the following: Gross profit 12,000 Salary (office) 9,000 Apprenticeship premium received 5,000 Administration expenses 4,000 Freight outwards 3,000 Advertisement 2,000 5. Ascertain net profit or net loss from the following: Gross Profit 12,500 Discount allowed 60 Rent 500 Interest received 100 Carriage outwards 100 6.From the following particulars, prepare balance sheet in the books of Bragathish as on 31st December, 2017: Capital 80,000 Debtors12,800 Drawings 8,800 Cash in hand 20,000 Net profit 4,800 Plant 43,200 7.From following details for the year end 31March, 2018, prepare trading account. Opening stock 2,500 Purchases 27,000 Sales 40,000 Wages 2,500 Returns outwards 5,200 Returns inwards 7,000 Coal and gas 3,300 Carriage inwards 2,600 Closing stock 5,200 8. Prepare trading account in the books of Sivashankar from the following figures:Opening stock 1,500 Sales 4,600 Purchases3,500 Closing stock 1,300 9.Compute cost of goods sold from the following information: Opening stock 8,000 Purchases 60,000 Direct expenses 5,000 Indirect expenses 6,000 Closing stock 9,000 10.Find out the amount of sales from the following information. Opening stock 20,000 Purchases less returns 70,000 Direct expenses 10,000 Closing stock 30,000 Gross profit margin (on sales) 20% B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 78 G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD DEPRECIATION MARKS: 30 1. A company purchased a building for ` 50,000. The useful life of the building is 10 years and the residual value is ` 2,000. Find out the amount and rate of depreciation under straight line method. 2. Furniture was purchased for ` 60,000 on 1-7-2016. It is expected to last for 5 years. Estimated scrap at the end of five years is ` 4,000. Find out the rate of depreciation under straight line method 3. Calculate the rate of depreciation under straight line method. Purchase price of a machine ` 80,000 Expenses to be capitalized ` 20,000 Estimated residual value ` 4,000 Expected useful life 4 years 4. Machinery was purchased on 1st January 2015 for ` 4,00,000. ` 15,000 was spent on its erection and ` 10,000 on its freight charges. Depreciation is charged at 10% per annum on straight line method. The books are closed on 31st March each year. Calculate the amount of depreciation on machinery for the first two years. 5.From the following particulars, give journal entries for 2 years and prepare machinery account under straight line method of providing depreciation: Machinery was purchased on 1.1.2016 Price of the machine ` 36,000 Freight charges ` 2,500 Installation charges ` 1,500 Life of the machine 5 years 6.On 1st April 2008, Sudha and Company purchased machinery for ` 64,000. To instal the machinery expenses incurred was ` 28,000. Depreciate machinery 10% p.a. under straight line method. On 30th June, 2010 the worn out machinery was sold for ` 52,000. The books are closed on 31st December every year. Show machinery account. 7.An asset is purchased for ` 50,000. The rate of depreciation is 15% p.a. Calculate the annual depreciation for the first two years under diminishing balance method. 8.A furniture costing ` 5,000 was purchased on 1.1.2016, the installation charges being `1,000. The furniture is to be depreciated @10% p.a. on the diminishing balance method. Pass journal entries for the first two years. 9. A firm purchased a machine for ` 1,00,000 on 1-7-2015. Depreciation is written off at 20% on reducing balance method. The firm closes its books on 31st December each year. Show the machinery account upto 31-12-2017. 10.A firm purchased a plant on 1.1.2018 for ` 9,000 and spent ` 1,000 as erection charges. Calculate the amount of depreciation for the year 2018 @ 15% per annum under the written down value method. Accounts are closed on 31st March every year B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 79 G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD JOURNAL 1. Arun is a trader dealing in automobiles. For the following transactions, pass journal entries for the month of January, 2018 Jan.1 Commenced business with cash 90,000 2 Purchased goods from X and Co. on credit 40,000 3 Accepted bill drawn by X and Co. 20,000 4 Sold goods to D and Co. on credit 10,000 5 Paid by cash the bill drawn by X and Co. 6 Received cheque from D and Co. in full settlement and deposited the same in bank 9,000 7 Commission received in cash 5,000 8 Goods costing ` 40,000 was sold and cash received 50,000 9 Salaries paid in cash 4,000 10 Building purchased from Kumar and Co. for ` 1,00,000 and an advance of ` 20,000 is given in cash 2. Journalise the following transactions in the books of Sundar who is a book seller. 2017 Dec 1 Commenced business with cash 2,00,000 2 Bought goods from X and Co. on credit 80,000 4 Opened a bank account with 50,000 5 Sold goods to Naresh who paid the amount through net banking 5,000 6 Sold goods to Devi who paid through credit card 7,000 7 Sold goods to Ashish on credit 700 8 Money withdrawn from bank through ATM for office use 1,000 9 Purchased a furniture and paid through debit card 2,000 10 Salaries paid by cash 6,000 11 Furniture purchased from Y for ` 25,000 and advance given 5,000 3. Pass journal entries in the books of Sasi Kumar who is dealing in automobiles. 2017 Oct ` 1 Commenced business with goods 40,000 3 Cash introduced in the business 60,000 4 Purchased goods from Arul on credit 70,000 6 Returned goods to Arul 10,000 10 Paid cash to Arul on account 60,000 15 Sold goods to Chandar on credit 30,000 18 Chandar returned goods worth 6,000 20 Received cash from Chandar in full settlement 23,000 25 Paid salaries through ECS 2,000 30 Sahil took for personal use goods worth 10,000 B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 80 G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD LEDGER 1. Show the direct ledger postings for the following transactions: 2017 July 1 Shankar commenced business with a cash of ` 1, 00,000 5 Sold goods for cash ` 10,000 9 Wages paid ` 6,000 19 Salaries paid ` 8,000 20 Advertisement expenses paid ` 4,000 2. Prepare a Sales account from the following transactions. 2018 Jan 1 Sold goods to Sam 4,000 4 Sold goods to Suresh 2,500 11 Sold goods to Joy 8,000 17 Sold goods to Rajan 3,000 3. Enter the following transactions in the books of Ganesan and post them into ledger. 2017 Oct 1 Started business with cash 25,000 5 Deposited into bank 12,500 10 Purchased furniture and payment by cheque 2,000 15 Goods purchased for cash 5,000 19 Sold goods to Vasu on credit 4,000 22 Goods worth ` 500 taken for personal use 4. Journalise the following transactions in the books of Arun and post them to ledger accounts. 2017 Dec 1 Arun started his business with cash 10,000 3 Bought goods for cash 1,500 8 Sold goods to Krishna on credit 4,000 14 Purchased goods from Govind on credit 2,000 25 Received cash from Krishna 3,000 28 Cash paid to Govind 1,000 5. Journalise the following transactions in the books of Vasu and post them to ledger accounts. 2017 Nov 1 Cash in hand ` 1, 00,000; Cash at bank: ` 30,000 2 Vasu sold goods to Jothi for ` 25,000 against a cheque and deposited the same in the bank 4 Received as commission ` 5,000 8 Bank paid ` 15,000 directly for insurance premium of Vasu. 15 Cash deposited into bank ` 30,000 20 Cash withdrawn from bank for personal use 45,000 B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 81 G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD TRIAL BALANCE 1. From the following balances extracted from the books of Chitra, prepare trial balance as on 31st March, 2017. Adjusted purchases 60,000 Rent paid 2,000 Discount received1, 000 Carriage inward 2,700 Closing stock 18,600 Advertisement 4,000 General expenses700 Commission paid1, 500 Capital40, 000 Sales 48,500 2. From the following balances, prepare trial balance of Baskar as on 31st March, 2017. Transfer the difference, if any, to suspense account. Opening stock 40,000 Debtors 25,000 Capital 90,000 Carriage inwards 16,500 Sales 1,77,200 Bills receivable 20,000 Salaries 12,000 Commission received 5,550 Bills payable 9,450 Cash at bank 17,000 Telephone charges 2,350 Furniture 19,000 Creditors 16,000 Plant & Machinery 55,800 Purchases 85,000 Repairs 550 3. From the following balances of Rohini, prepare the trial balance as on 31st March, 2016. Capital 60,000 Sales 82,000 Discount received 3,250 Lighting 800 Purchases 58,000 Drawings 5,250 Plant and machinery 40,000 Car expenses 1,200 Advertising expenses 5,000 Motor car 35,000 4. Prepare the trial balance from the following balances of Chandramohan as on 31st March, 2017. Capital 1,24,500 Bank overdraft 5,800 Drawings 2,000 Motor car 20,000 Loan borrowed 7,000 General expenses 2,500 Sales 53,400 Building 1,10,000 Purchases 40,000 Stock 16,200 5. Prepare the trial balance from the following information: Bank loan 2,00,000 Purchases 1,80,000 Bills payable 1,00,000 Sales 3,00,000 Stock 70,000 Debtors 4,00,000 Capital 2,50,000 Bank 2,00,000 B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 82 www.nammakalvi.in G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD SUBSIDIARY BOOKS I 1. Record the following transactions in the purchases book of Raja Furniture: 2017 May 4 Purchased from Kasi Furnitures, Kanyakumari 10 chairs @ ` 300 each 4 tables @ ` 800 each May 6 Purchased for cash from Welcome Furniture, Vellore 2 almirahs @ ` 2,000 each 4 chairs @ ` 200 each Less: Trade discount 5% May 10 Bought furniture from Murugan Furniture Mart, Nagapattinam 10 chairs @ ` 250 each 5 tables @ ` 750 each Delivery and packing charges ` 150 May 20 Purchased 2 computers for office use from Anandan & Co.,Adyar on credit for `15,550 each May 25 Purchased from Gowtham & Co., Chennai 10 chairs @ ` 550 each 15 steel cabinets @ ` 2,000 each Delivery charges ` 200 Less: Trade discount 10% 2. Enter the following transactions in the purchases returns book of Hari who is dealing in automobiles and post them into the ledger. 2017 Jan. 5 Returned to Anand 5 clutch plates @ ` 200 each, not in accordance with order. Jan. 14 Returned to Chandran 4 brake shoes @ ` 200 each and 10 rear view mirrors @ ` 350 each, due to inferior quality. 3. Enter the following transactions in returns inward book of Magesh a textile dealer: 2017 April 6 Returned by Shankar 30 shirts each costing ` 150 due to inferior quality. April 8 Amar Tailors returned 10 T-shirts, each costing ` 100, on account of being not in accordance with their order. April 21 Prema Stores returned 12 Salwar sets each costing ` 200, being not in accordance with order. 4. From the following information, prepare the necessary subsidiary books for Nalanda Book Stores. B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 83 G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD 2017 Dec. 1 Bought from M/s. Umadevi on credit 100 copies Business Statistics Book @ ` 80 each 100 copies Accountancy Book @ ` 150 each Dec. 7 Sold to Sridevi & Co., on credit 240 copies Business Statistics @ ` 90 each 250 copies Accountancy books @ ` 170 each Dec. 10 Bought from Subha & Co., 40 Copies Economics books @ ` 80 each Less: 15% Trade Discount Dec. 15 Returned to M/s. Uma Devi 10 copies of damaged Accountancy book for which cash is not received Dec. 18 Sold to Gupta Bros., on credit 200 copies of Economics book @ ` 95 each Dec. 26 Returned 6 copies of Economics books to Subha & Co. 5. Enter the following transactions in the sales book and sales returns book of M/s. Guhan & Sons, who is a textile dealer. 2017 May 2 Sold to M/s. Karan & Co., on credit 100 pieces towels @ ` 280 per piece 200 metres shirtings @ ` 270 per metre May 5 Sold to M/s. Veeran & Sons on credit 10 pieces ready-made dress @ ` 1,500 per piece May 16 Sold to M/s. Jain & Sons on credit 50 blankets @ ` 240 each May 20 Damaged 10 pieces towels returned by Karan & co. and cash not paid May 25 Sold old furniture to M/s. Saran & Co., on credit ` 18,000 May 27 Returned 2 pieces ready-made dresses by M/s. Veeran & Sons due to inferior quality and cash not paid. 6. Enter the following transactions in the purchases and sales books of Kannan, an automobile dealer, for the month of December, 2017. 2017 Dec. 1 Bought from Sumathi gear boxes on credit 17,800 Dec. 4 sold goods to Rani on credit 15,200 Dec. 6 purchased goods on credit from Mani 7,000 Dec. 10 sold goods on credit to Saranya 12,500 Dec. 17 sold goods to Hussain on credit 13,250 Dec. 21 purchased goods on credit from Raghunathan 10,000 Dec. 26 Sold goods to Shyam for cash 3,000 B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 84 G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD SUBSIDIARY BOOKS II 1. Enter the following transactions in a single column cash book of Pandeeswari for the month of June, 2017. June 2 Started business with cash 50,000 8 Paid rent in cash 4,000 10 Purchased printer for cash 7,500 11 Cash purchases 15,000 14 Cash sales 10,000 17 Commission received in cash 6,000 19 Interest paid for loan in cash 2,000 20 Cash withdrawn for personal use 3,000 21 Paid speed post charges in cash 3,500 2. Enter the following transactions in a single column cash book of Ramalingam for month of July, 2017. July 1 Cash in hand 32,000 5 Received from Keerthana 5,000 6 Paid packing charges in cash 300 7 Cash purchases 12,400 8 Sold goods for cash 2,600 10 Paid salaries to manager in cash 7,000 11 Paid to Bala 3,000 12 Purchased goods from Bose 2,500 24 Cash deposited into bank through CDM 4,000 27 Withdraw cash from bank 2,000 31 Paid office rent in cash 6,000 3. Enter the following transaction in Chandran s cash book with cash and discount column. 2017 Nov 1 Cash balance 22,000 2 Cash Sales 14,000 3 Credit sales to Govindan 12,000 4 Credit purchases from Balaraman 27,000 5 Cash purchases 8,800 8 Goninan settled his account @ 2% cash discount 12 Paid Balaraman ` 26,800 and settle his account 15 Cash withdrawn for personal expenses 4,000 28 Cash paid into Bank 5,000 B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 85 G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD 29 Received from Madhan ` 4,800 in settlement of his account for 5,000 30 Paid salaries in cash 4,000 4. Enter the following transactions of Fathima in the cash book with cash, bank and discount columns for the month of May, 2017. 2017 May 1 Cash balance 17,200, Bank balance 43,000 4 Received from Rajkumar by cheque on account 6,500 9 Sold goods to Kumar for cash 12,000 15 Bought laptop for business use and payment made through NEFT 21,000 17 Withdrawn cash from Bank 9,600 24 Goods purchased for cash ` 12,400 and by cheque 18,200 25 Deposited cash with bank 14,000 28 Paid staff salaries by cheque 8,000 29 Dividend received in cash 4,700 30 Paid office rent in cash 12,000 5. Prepare a triple column cash book of Rahim from the following transactions: 2017 Feb.1 Cash in hand 25,000 Cash at bank 10,000 5 Water purifier purchased for office use by cheque 8,000 6 Purchased goods for cash 9,000 8 Received cash from Daniel 9,900 Discount allowed to him 100 10 Cheque received for goods sold and deposited in the bank 40,000 12 Paid to Amala by cheque 14,500 Discount received from her 500 13 Paid transport charges by cash 5,000 14 Withdrawn cash from bank for office use 20,000 24 Cheque received from Kumar and deposited into the bank 15,000 28 Kumar s cheque dishonoured B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 86 G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD PETTY CASH BOOK 1.Record the following transactions in the analytical petty cash book of Mr.Manoharan. Balance the book on 6th May, 2003. Give Journal entries and post the balances to concerned ledger accounts. 2003, May 1. Received for petty cash payment Rs.1,500 2. Paid taxi hire Rs. 250 3. Bought stamps Rs. 75 4. Paid for carriage Rs. 120 4. Paid for Telegrams Rs. 75 4. Paid for auto Rs. 125 5. Paid for carriage Rs. 300 6. Bought revenue stamps Rs. 50 2. Prepare Petty Cash Book on imprest system from the following particulars. 2003, Sept. 1. Received for petty cash payments Rs.1,000 4. Paid for stationery Rs. 140 9. Paid for postage Rs.80 10. Paid for printing charges Rs. 150 11. Paid for carriage Rs. 125 17. Paid for telegrams Rs.25 20. Purchased envelops Rs. 30 21. Paid for coffee to office staff Rs. 30 22. Paid for office cleaning Rs. 50 30. Paid to Rajesh Rs. 200 3. Prepare the analytical petty cash book of Mrs.Mala from the following: 2002, Dec. 1 Cash in hand 435 1 Received from cashier 1,065 4 Bought postage stamps 75 7 Paid for stationery 135 8 Paid to Manimaran on account 475 13 Tea to sales agents 25 20 Bought ink & paper 43 21 Paid for carriage 45 24 Sent a telegram to Madurai 25 26 Paid for stationery 120 29 Paid for registered post 50 B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 87 G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD DEPRECIATION ACCOUNTING 1. A firm purchased a plant for 40,000. Erection charges amounted to 2,000. Effective life of the plant is 5 years. Calculate the amount of depreciation per year under straight line method. 2. Furniture was purchased for 60,000 on 1-7-2016. It is expected to last for 5 years. Estimated scrap at the end of five years is 4,000. Find out the rate of depreciation under straight line method. 3. Machinery was purchased on 1st January 2015 for 4,00,000. 15,000 was spent on its erection and 10,000 on its freight charges. Depreciation is charged at 10% per annum on straight line method. The books are closed on 31st March each year. Calculate the amount of depreciation on machinery for the first two years. 4. A company purchased a building for 50,000. The useful life of the building is 10 years and the residual value is 2,000. Find out the amount and rate of depreciation under straight line method. 5. An asset is purchased on 1.1.2016 for 25,000. Depreciation is to be provided annually according to straight line method. The useful life of the asset is 10 years and its residual value is 1,000. Accounts are closed on 31st December every year. You are required to find out the rate of depreciation and give journal entries for first two years. 6. Find out the rate of depreciation under straight line method from the following details: Original cost of the asset = 10,000 Estimated life of the asset = 10 years Estimated scrap value at the end = 2,000 B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 92 G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD 7. A company has purchased a machinery for 1,80,000 and spent 10,000 for its installation. The estimated life of the machinery is 5 years with a residual value of 15,000. Find out the amount of depreciation to be provided every year. 8. On 1.1.2017 a firm purchased a machine at a cost of 1,00,000. Its life was estimated to be 10 years with a scrap value of 10,000. Compute the amount of depreciation to be charged at the end of each year. 9. A firm purchased a plant on 1.1.2018 for 9,000 and spent 1,000 as erection charges. Calculate the amount of depreciation for the year 2018 @ 15% per annum under the written down value method. Accounts are closed on 31st March every year. 10. From the following information, calculate the amount of depreciation and rate of depreciation under straight line method. Purchase price of machine 2,00,000 Expenses to be capitalised 50,000 Estimated residual value 15,000 Expected useful life 5 years 11. Calculate the amount of depreciation and depreciation rate from the following by using straight line method . Also give journal entries for the first two years. The books are closed on 31st December every year. January 1, 2016 Payment to vendor for purchase of machinery ` 1,00,000 January 1, 2016 Transportation cost 1,000 January 1, 2016 Installation cost 9,000 Estimated scrap value at the end of the life 5,000 B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 93 Estimated life 10 years G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD 12. Ramu Brothers purchased a machine on 1st July 2016 at a cost of 14,000 and spent 1,000 on its installation. The firm writes off depreciation at 10% of original cost every year. The books are closed on 31st December every year. Give journal entries and prepare machinery account and depreciation account for 2 years. 13. Anand bought a machinery for 1,00,000 on 1-1-2015. On 1-6-2016, he bought another machine for 50,000. On 1-10-2017, he purchased another machine for 20,000. Provide depreciation at 10% p.a. on straight line method. Prepare machinery account for the years 2015 to 2017 by using accounts by assuming accounts are closed on 31st December every year. 14. Ragul purchased machinery on April 1, 2014 for ` 2,00,000. On 1st October 2015, a new machine costing ` 1,20,000 was purchased. On 30th September 2016, the machinery purchased on April 1, 2014 was sold for ` 1,20,000. Books of accounts are closed on 31st March and depreciation is to be provided at 10% p.a. on straight line method. Prepare machinery account and depreciation account for the years 2014-15 to 2016-17. 15. An asset is purchased for ` 50,000. The rate of depreciation is 15% p.a. Calculate the annual depreciation for the first two years under diminishing balance method. 16. A furniture costing 5,000 was purchased on 1.1.2016, the installation charges being 1,000. The furniture is to be depreciated @10% p.a. on the diminishing balance method. Pass journal entries for the first two years. 17. A boiler was purchased on 1st January 2015 from abroad for 10,000. Shipping and forwarding charges amounted to 2,000. Import duty 7,000 and expenses of installation amounted B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 94 www.nammakalvi.in G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD to ` 1,000. Calculate depreciation for the first 3 years @10% p.a. on diminishing balance method assuming that the accounts are closed 31st December each year. 18. A firm purchased a machine for ` 1,00,000 on 1-7-2015. Depreciation is written off at 20% on reducing balance method. The firm closes its books on 31st December each year. Show the machinery account upto 31-12-2017. 19. On 1st January 2015, a second hand machine was purchased for ` 58,000 and ` 2,000 was spent on its repairs. On 1st July 2017, it was sold for ` 28,600. Prepare the machinery account for the years 2011 to 2013 under written down value method by assuming the rate of depreciation as 10% p.a. and the accounts are closed on 31st December every year. 20. On 1st October 2014, a truck was purchased for ` 8,00,000 by Laxmi Transports Ltd. Depreciation was provided @ 15% p.a. under diminishing balance method. On 31st March 2017, the above truck was sold for `5,00,000. Accounts are closed on 31st March every year. Find out the profit or loss made on the sale of the truck. 21. Raj & Co purchased a machine on 1st January 2014 for ` 90,000. On 1st July 2014, they purchased another machine for ` 60,000. On 1st January 2015, they sold the machine purchased on 1st January 2014 for ` 40,000. It was decided that the machine be depreciated at 10% per annum on diminishing balance method. Accounts are closed on 31st December every year. Show the machinery account for the years 2014 and 2015. 22. On 1st April 2008, Sudha and Company purchased machinery for ` 64,000. To instal the machinery expenses incurred was ` 28,000. Depreciate machinery 10% p.a. under straight line method. On 30th June, 2010 the worn out machinery was sold for ` 52,000. The books are closed on 31st December every year. Show machinery account. B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 95 G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD CAPITAL REVENUE EXPENDITURE State with reasons whether the following are capital or revenue or deferred revenue expenditure: 1) Advertisement expenses amounted to 10 crore to introduce a new product. 2) Expenses on freight for purchasing new machinery. 3) Freight and insurance on the new machinery and cartage paid to bring the new machinery to the factory. 4) Expenses incurred in connection with obtaining a licence for starting the factory for 25,000. 5) A factory shed was constructed at a cost of 2,00,000. A sum of 10,000 had been incurred in the construction of temporary huts for storing building material. 6) Overhaul expenses of second-hand machinery purchased amounted to 5,000. 7) 5,000 spent towards additions to buildings. 8) Second-hand motor car purchased for 30,000 and paid 2,000 as repairs immediately. 9) 10,000 was spent on painting the new factory. 10) Freight and cartage on the new machine 150, erection charges 200. 11) 150 spent on repairs before using a second hand car purchased recently. 12) Carriage of 1,000 spent on machinery purchased and installed. 13) Office rent paid 2,000. 14) Wages of 5,000 paid to machine operators. 15) Hire charges for the use of motor vehicle, hired for five years, but paid yearly. 16) 10,000 spent as travelling expenses of the directors on trips abroad for the purchase of fixed assets. B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 96 G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD 17) Amount received from trade receivables during the year. 18) Amount spent on demolition of building to construct a large building on the same site. 19) Insurance claim received on account of a machinery damaged by fire. 20) The sum of 3,200 has been spent on a machine as follows: a) 2,000 for additions to double the output. b) 1,200 for repairs necessitated by negligence. 21) Overhauling expenses of 25,000 for the engine of a motor car to get better fuel efficiency. 22) 50,000 spent for railway siding. 23) Loss on sale of old furniture 24) Carriage paid on goods sold. 25) Legal fees paid to the lawyer for acquiring a land 20,000. 26) Heavy advertising cost of 12,00,000 spent on introducing a new product. 27) Renewal of factory licence 12,000. 28) A sum of 4,000 was spent on painting the factory. 29) Audit fees paid ` 10,000. 30) Labour welfare expenses ` 5,000. 31) 2,000 paid for servicing the company vehicle. 32) Repair to furniture purchased second hand ` 3,000. 33) Rent paid for the factory 12,000 34) Advertising expenditure, the benefits of which will last for three years. 35) Registration fees paid at the time of registration of a building. B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 97 G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD FINAL ACCOUNTS OF SOLE PROPRIETORS - I 1. From the following information, prepare trading account for the year ended 31.12.2016. Opening stock 10,000 Sales Purchases 26,100 40,600 Closing Stock 13,500 2. The following are some of the balances extracted from the ledger of Mr.Sundaram as on 31st December 2000. Prepare a trading account. Stock (1.1.2000) 12,500 Purchases 1,00,000 Sales 1,50,000 Returns outwards 5,000 Power, coal, gas 1,000 Carriage outwards 750 Carriage inwards 2,500 Rent 2,750 Returns inwards 10,000 Salaries 4,400 Wages 7,500 Stock on 31.12.2000 was valued at Rs.14,000. 3. The following balances are taken from the books of M/s. RSP Ltd. Prepare profit and loss account for the year ended 31st March 2002. Gross profit 5,25,000 Rent 10,000 Interest on loan 5,000 Distribution charges 2,500 Taxes and insurance 2,000 Interest received 5,000 Office expenses 1,500 Commission received 3,000 Bad debts 2,200 Salaries & wages 1,00,000 Discount received 2,000 Stationery and printing 500 Advertising 9,000 Salesman salary 8,000 Depreciation 5,000 B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 98 G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD 4. From the following information prepare balance sheet of Mrs.Nasreen Khan as at 31st Dec. 2003. Goodwill 10,000 Capital 90,000 Drawings 15,000 Furniture 6,750 Bills receivable 6,500 Creditors 31,500 Cash in hand 10,000 Investment 500 Sundry debtors 25,000 Land & Buildings 30,000 Bank 10,000 Bills payable 5,350 Net profit 46,900 closing stock 40,000 Plant & machinery 20,000 5. From the following Trial Balance of M/s. Ram & Sons, prepare trading and profit and loss account for the year ending on 31st March 2002 and the balance sheet as on the date: Trial Balance as on 31st March 2002 Opening Stock 5,000 Capital 13,000 Debtors 4,250 Building 5,000 Trade expenses 600 Carriage inward 275 Salaries 2,000 Wages 6,500 Purchases 16,750 Cash 2,045 Creditors 2,100 Furniture 200 Interest 250 Administration expenses 105 Travelling expenses 400 Sales 30,000 Discount allowed 1,300 Stock on 31st March 2002 was Rs. 6,000. 6. From the following balances extracted from the books of Mrs.Mala, prepare final accounts for the year ending 31st March 2003. Closing stock as on 31.03.2003 was Rs.72,500. Bills payable 4,500 Commission (Cr) 6,000 Debtors 52,500 Creditors 40,650 Opening Stock as on 1.4.2003 55,500 Drawings 12,000 Suspense account 2,750 (Cr) Wages 42,000 Salaries 6,000 Mrs.Mala s Capital 95,000 Bills receivable 15,000 Interest 2,250 Sales 3,75,000 Purchase Returns 3,000 Purchases 1,80,000 Cash and bank balances 3,000 Income tax 750 Repairs to Machinery 9,150 Plant & Machinery 37,000 Land and building 1,11,750 B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 99 G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD 7. From the following information, prepare profit and loss account for the year ended 31st December, 2017. Gross profit 60,000 Freight outward 15,000 Repairs on vehicles used in office 8,000 Rent received 7,000 Financial charges 4,000 Depreciation on vehicles used in office 3,000 Telephone expenses 22,400 Promotional expenses 10,200 Interest received 2,100 Carriage inwards 4,000 Interest paid 9,000 Bad debts recovered 4,000 Salesmen commission paid 1,300 Packing charges (on sales) 12,000 8. From the following balances of Niruban, prepare balance sheet as on 31st December, 2017. Plant and machinery 8,00,000 Land and building 6,00,000 Furniture 1,50,000 Cash in hand 20,000 Bank overdraft1,80,000 Debtors 3,20,000 Creditors 2,40,000 Bills receivable 1,00,000 Bills payable 60,000 Capital 15,00,000 Drawings 1,30,000 Net Profit 6,20,000 Investments (short-term) 80,000 Closing stock 4,00,000 9. Prepare trading and profit and loss account in the books of Ramasundari for the year ended 31st December, 2017 and balance sheet as on that date from the following information: Opening stock 2,500 Wages 2,700 Closing Stock 4,000 Discount received 2,500 Machinery 52,000 Creditors 8000 Sales 7,000 Purchases 3,300 Salary 2,600 Capital 52,000 Cash at Bank 6,400 B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 100 www.nammakalvi.in G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD FINAL ACCOUNTS OF SOLE PROPRIETORS - II 1. Prepare trading account from the following ledger balances presented by P. Sen as on 31st March, 2016. Stock (1-4-2015) 10,000 Purchases 1,60,000 Wages 30,000 Carriage inwards 10,000 Freight inwards 8,000 Returns inward 16,000 Returns outward 10,000 Gas and Fuel 8,000 Sales 3,00,000 Additional information: i. Stock on 31st March, 2016, 20,000 ii. Outstanding wages amounted to 4,000 iii. Gas and fuel was paid in advance for 1,000 2. From the following balances obtained from the books of Siva, prepare trading and profit and loss account. Stock on 01.01.2016, 9,000 Purchases 22,000 Sales 42,000 Expenses on purchases 1,500 Bank charges paid 3,500 Bad debts 1,200 Sundry expenses 1,800 Discount allowed 1,700 Expenses on sale 1,000 Repairs on office furniture 600 Adjustments: a) Closing stock on, 31st December, 2016 was ` 4,500 b) Manager is entitled to receive commission @ 5% of net profit after providing such commission. 3. From the following particulars, prepare the balance sheet of Madhu, for the year ended 31st March, 2018. Capital 2,00,000 Investments 20,000 Drawings 40,000 Bills receivable 10000 Cash in hand 15,000 Bills payable 20000 Loan from bank 40,000 Goodwill 60000 Bank overdraft 20,000 Cash at bank 25000 Vehicles 80000 Land and building Sundry debtors 80000 Sundry creditors 40000 The following adjustments were made at the time of preparing final accounts: (a) Outstanding liabilities: Salaries ` 10,000; Wages ` 20,000; Interest on Bank overdraft `3,000 and Interest on bank loan ` 6,000 (b) Provide interest on capital @ 10% p.a. B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 101 G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD (c) Bad debts amounted to ` 10,000 & make provision for bad debts @ 10% on sundry debtors. (d) Closing stock amounted to ` 1,20,000 (e) Depreciate vehicles @ 10% p.a. Net profit for the year amounted to ` 96,000 after considering all the above adjustments. 4. From the following Trial Balance of Mr. Ravi, prepare Trading and Profit and Loss Account for the year ended 31st March, 2002 and a Balance Sheet as on that date. Capital 40,000 Stock (1.4.2001) 5,200 Debtors 2,500 Creditors 1,000 Sales 25,000 Purchases 15,000 Salaries 2,000 Rent 1,500 Insurance 300 Drawings 5,000 Machinery 28,000 Bank Balance 4,500 Cash 2,000 Adjustments required: a) Stock on 31.3.02 Rs. 4,900 b) Salaries unpaid Rs. 300 c) Rent paid in advance Rs. 200 d) Insurance prepaid Rs. 90 5. From the following Trial Balance, Prepare Trading A/c of Mr. Jegan for the year ended on 31.03.2017 Purchases 11,870 Return inwards 450 Return Outwards 350 Sales 14,690 Stock (1.4.1980) 1,000 Wages 450 Carriage inwards 1000 Carriage outwards 6300 Rent 500 Adjustments: a) The closing stock on 31.3.81 was Rs.4,200. b) Rent outstanding Rs.120. 6. From the following information of Mr.Raghuraman as on 31st March, 2003. Prepare balance sheet. Capital 3,60,000 Drawings 6,400 Bad debts 600 Commission received 1,000 Bills Payable 18,000 Bank overdraft 6,000 Land & Buildings 2,61,000 Plant & Machinery 1,80,000 Sundry Debtors 50,800 Sundry Creditors 84,000 B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 102 G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD Net profit 43900 Adjustments: 1. Closing Stock on 31.03.2003, Rs.15,000. 2. Write off bad debts Rs.800 and make provision for Bad & doubtful debts @ 5% on Sundry debtors. 3. Commission accrued but not received Rs.2,000. 7 . From the following Trial Balance of Mr.Ruso prepare the final accounts for the year ending on 31.12.2005. Cash in Hand 65,000 Drawings 40,000 Purchases 20,000 Buildings1,00,000 Rent 7,000 Capital 2,00,000 Sundry Creditors 45,000 Cash at Bank 17,000 Wages 10,000 Stock 60,000 Sundry Debtors 78,000 General expenses 8,000 Sales1,60,000 Adjustment: 1. Closing stock Rs 40,000 2. Interest on Drawings at 5% to be provided 3. Depreciate Buildings at 10% p.a 4. Write off bad debts Rs 1,000 5. Wages yet to be paid Rs 500 8 . From the following Trial Balance Of Mr. Ashok as on 31st March 2005. Prepare Trading, Profit and loss account and the Balance sheet as on that date. Purchases 75,000 Investment 35,000 Carriage inwards 5,000 General expenses15,000 Opening stock 80,000 Drawings 20,000 Sundry creditors 40,000 Bills payable 20,000 Sundry Debtors 80,000 Rent 10,000 Salaries 20,000 Cash 15,000 Furniture 45,000 Capital 2,00,000 Sales 1,30,000 Commission received 10,000 Adjustment: 1. Closing stock Rs 1,00,000 2. Outstanding salary Rs 2,000 3. Commission received in advance Rs 3,000 4. Depreciate Furniture at10% p. a 5. Provide interest on capital at 6% p. a B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 103 G.K. VIDHYAA MANDIR MAT. HR. SEC. SCHOOL, KARUR. XI WORKSHEETS ACCOUNTANCY STD BAD DEBTS CONCEPT 1. The Trial Balances shows on 31.3.2004 Sundry debtors Rs 41,500 Bad debts Rs 1,000 Adjustments: 1. Write off bad debts Rs 1,500 2. Provide 5% for bad and doubtful debts 3. Provide 2% for discount on debtors Pass adjustment entries and also how this item will appear in the final accounts. 2. The Trial Balance shows on 31.3.2003 Sundry debtors1,25,000 Adjustments: 1. Bad debts to be written off Rs 5,000 2. Provision for bad and doubtful debts be created at 5% 3. Provide discount on debtors at 2% Pass adjusting entries also show how these items will appear in the final accounts 3. The Trial Balance shows on 31.3.2005 Sundry debtors 65,000 Adjustments; 1. Bad debts to be written off Rs 5,000 2. Provision for bad and doubtful debts be created at 5% 3. Provide discount on debtors at 2% Pass adjusting entries also show how these items will appear in the final accounts. 4. The Trial Balance shows on 31st March 2004 Sundry debtors Rs 2, 20,000 Adjustments; 1. Bad debts to be written off Rs 20,000 2. Provision for bad and doubtful debts be created at 5% Pass adjusting entries also show how these items will appear in the final accounts 5. The Trial Balance shows on 31.3.2003 Sundry debtors Rs 2, 00,000 Bad debts Rs. 10,000 Adjustments: 1. Bad debts to be written off Rs 5,000 2. Provision for bad and doubtful debts be created at 5% 3. Provide discount on debtors at 2% Pass adjusting entries also show how these items will appear in the final accounts B.ABDUL AJISH M.COM., B.ED., M.PHIL., PRINCIPAL . CONTACT: 7708082064 Page 104

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