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Final Accounts Question Paper

The document is a tutorial for 12th-grade students on Book Keeping, specifically focusing on Final Accounts, with a total of 20 marks. It includes fill-in-the-blank questions, short answer questions, and a practical problem requiring the preparation of Trading, Profit & Loss Account, and Balance Sheet from a given Trial Balance. Adjustments for closing stock, outstanding salaries, prepaid rent, and depreciation of furniture are also provided.

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91 views2 pages

Final Accounts Question Paper

The document is a tutorial for 12th-grade students on Book Keeping, specifically focusing on Final Accounts, with a total of 20 marks. It includes fill-in-the-blank questions, short answer questions, and a practical problem requiring the preparation of Trading, Profit & Loss Account, and Balance Sheet from a given Trial Balance. Adjustments for closing stock, outstanding salaries, prepaid rent, and depreciation of furniture are also provided.

Uploaded by

pokemon XYZ
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Krishna Tutorials

Std: 12th | Subject: Book Keeping (B.K)

Chapter: Final Accounts | Marks: 20

Q.1 FILL IN THE BLANKS (4 Marks)

1. Trading Account is prepared to find out ______.

2. Net Profit is transferred to ______ Account.

3. Outstanding expenses are shown on the ______ side of the Balance Sheet.

4. Income received in advance is a ______ liability.

Q.2 ANSWER IN ONE SENTENCE (4 Marks)

1. What is Final Account?

2. Why is Trading Account prepared?

3. What is Gross Profit?

4. What is meant by Accrued Income?

Q.3 FINAL ACCOUNT PROBLEM (12 Marks)

Prepare Trading, Profit & Loss Account and Balance Sheet from the following Trial Balance as on 31st March

2024:

Trial Balance:

Particulars Debit (Rs.) Credit (Rs.)

Capital 60,000

Drawings 5,000

Sales 1,00,000

Purchases 60,000

Wages 5,000
Krishna Tutorials

Std: 12th | Subject: Book Keeping (B.K)

Chapter: Final Accounts | Marks: 20

Rent and Taxes 3,000

Salaries 4,000

Discount Allowed 1,000

Discount Received 500

Debtors 30,000

Creditors 15,000

Opening Stock 20,000

Furniture 10,000

Cash in Hand 7,500

Bank Balance 9,000

Adjustments:

1. Closing Stock Rs. 25,000

2. Outstanding Salaries Rs. 1,000

3. Prepaid Rent Rs. 500

4. Depreciate Furniture at 10%

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