C.E.

S’s Marceline Junior College

Marks :80m Date:
Kurla (W), Mumbai 400070

Time:3Hr Book keeping and Accountancy –Final Examination XI Commerce

IA. Select the most appropriate alternatives given below and rewrite the sentences
(5m)
1. Outstanding expenses are shown on the ________ side of Balance Sheet.
a. Trading A/c b. Cash A/c c. Liabilities d. Asset

2. Machinery Account is ________ account.

a. Real b. Nominal c. Personal d.Income

3. _________ means explanation of the transaction recorded in the Journal .

a. Narration b. posting c. Casting d. Journalising

4. Surplus of Income over expenses______.

a. Profit b. Loss c. Deficit d. Financial statements.

5. Goodwill is__________ asset.

a. Tangible b. Intangible c. Current d. None of these

B. Correct and rewrite the following statements. (5m)

1.All direct expenses are debited to profit and loss account.
2.The Person who maintain Petty Cash Book is called Chief Cashier.
3.Cash discount is not recorded in the books of accounts.
4.Capital=Asset+Liabilities.
5.Cash discount is not recorded in the books of accounts .

C. Give accounting terms for the following statements (5m)

1.Statement of Asset and Liabilities .
2.A bank account which business man prefer to open,
3.The French word from which the word Journal is derived.
4.The Assets which cannot be seen, touched and felt.
5.Principal Book of accounts.

D. State whether following statements are true or false (5m)

1.Every item of Trial Balance has only one effect .
2.Journal is a book of prime entry.
3.A cash withdrawal from business by the trader for personal use should be credited to
Drawing A/c.
4.Cash book records transactions relating to receipts and payments of cash.
5. In every adjustment there are at least three effects.
II. Journalise the following transaction in the books of Suraj Kumar : ( m)
January 2024:
1. Rajnish started business with Bank ₹ 50000, Furniture ₹30000 and Building ₹50000.
took.loan from Rakesh ₹ 20000.
5. Sold goods to Sudhir on credit ₹55000 at 10% Trade discount and 5% GST.
9. Goods withdrawn by Suraj for personal use ₹2000.
15. Deposited cash ₹30000 into Bank of Baroda.
17. Received Commission ₹1500.
20. Purchase goods from Swapnil ₹40000 at 7% Trade discount.
25. Sold Computer to Sagar for ₹25000 @ 18% GST and received cheque.
30. Paid salaries ₹10000

III. From the following transaction pass the necessary journal entries and post them to
ledger account in the books of Mahesh. ( m)
January 2024.
1. Started business with Cash₹ 25500, Bank ₹9600, Furniture ₹120000
5. Cash Purchases ₹9700.
7. Cash Sales ₹7700.
10. Paid Salaries ₹15000.
15. Bought goods from Mohit₹ 14400.
20. Sold goods to Mrunal 13300.
25. Paid to Mohit on account ₹6000.
31. Received cheque on account from Mrunal ₹7500.

IV. Prepare two column cash book with the help of following information in the books
of Parekh Brothers: ( m)
February 2024.
1. Cash balance ₹10000 & bank balance ₹5000.
4. Deposited in Bank ₹4500.
8. Received a cross cheque for commission ₹550.
10. Received from Pravin cash 2000 and bearer cheque ₹1500.
11. Paid Electricity bill ₹2500 by cheque and Telephone bill/by cash ₹3000
12. Cheque received on 10th January deposited in Bank.
14. Bank charged interest ₹500 and collected dividend ₹600.
17. Goods purchased from Pranay on credit 8700
19. Introduced Additional Capital ₹18000 and deposited the same into the Bank A/c.
20. Withdrawn ₹1000 from bank for office use.
22. Cheque received from Pravin returned dishonoured.
26. Pritam one of our customer directly deposited ₹5000 in our bank account.
28. Sold goods to Paritosh ₹10000 at 10% T.D. and received half amount immediately.
29.Paid to Prajakta ₹4500 by cheque for salary.
V. Mr. Sanjeev Shukla the Petty Cashier of Sun and Son Co, Mumbai, maintains Petty
Cash book. Enter the following transaction in an Analytical Petty Cash Book for the
mont of February 2024. ( m)
February 2023.
1. Opening petty Cash Balance 350
1. Cheque received from Head cashier 1650
5. Paid for Postal stamp 25 and Carriage 50
9. Paid Telephone Charges 260
12. Paid Auto fare 70
16. Paid Photocopy charges paid 180
20. Paid Donation 150
25. Paid Wages 190.
29. Paid to Mr.Sunil 200

VI. From the following Trial Balance of Ajanta Traders you are requested to prepare
Final accounts: ( m)
st
Trial balance as on 31 March 2023
Particulars Debit (₹) Credit (₹)

Capital 125000
Plant and machinery 25000
Bills receivable 19250
Office equipment 20000
Motor van 30400
Sundry debtors 31250
Commission 1000
Purchase returns 2630
Sales 89500
Sales returns 4480
Purchases 55000
Salaries and Wages 8000
Carriage inward 6000
Bad Debts 2500
Legal Charges 11000
 Insurance 4000
Cash in hand 5000
Opening stock 32750
Bank overdraft 12500
creditors 24000
Total 254630 254630

Adjustments:
1. Closing stock on 31st Mar 2023 was valued at ₹20000.
2. Prepaid Insurance ₹1000.
3. Depreciate plant and Machinery @10% and Motor Van @15%.
4. Outstanding salaries ₹2000
5. Goods of rupees ₹2000 distributed as free sample.