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11th Accountancy Important 5 Mark Question Papers

St. Britto Hr. Sec. School - Madurai

11th Accountancy Important 5 Mark Question Papers-Aug 2020

Time : 2.00 Hours

Part - A

Generic 5 - Answer All Question

Enter the following transactions in the books of Ganesan and post them into ledger.

2017 Oct Rs.

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 Rs.500 taken for personal use

An accountant could not tally the trial balance. The Difference of Rs 520 was temporarily placed to the credit of suspense account arid subsequently found the following errors.
(a) The total of the Discount column on the credit side of the cash book Rs 230 was not posted in the ledger.
(b) The total of the Discount column on the debit side of the cash book Rs 150 was omitted to be posted in the ledger.
(c) The total of the Purchases book was short by Rs 600.
(d) A sale of Rs 675 to Kannan was entered in the sales book as Rs 975.
(e) A sale of Rs 500 to Vimal has been entered in the purchase book.
Rectify the above errors through suspense account. Also give journal entries for rectification.

Journalise the transactions given below and post them to ledger.

2017 October Rs.

18 Paid trade expenses 1,000

25 Bought postage stamps 100

30 Commission received 6,000

30 Rent paid 4,000

From the following balances, prepare trial balance of Baskar as on 31^st March, 2017. Transfer the difference, if any, to suspense account.

Rs Rs

Opening stock 40,000 Carriage inwards 16,500

Capital 90,000 Bills receivable 20,000

Sales 1,77,200 Commission received 5,550

Salaries 12,000 Cash at bank 17,000

Bills payable 9,450 Furniture 19,000

Telephone charges 2,350 Plant & Machinery 55,800

Creditors 16,000 Repairs 550

Purchases 85,000

Debtors 25,000

Prepare trial balance as on 31.03.2013 from the following balances of Mrs. Sujatha.

Name of the account Rs Name of the account Rs

Drawings 43,000 Purchases 2,98,000

Capital 2,12,000 Sales 3,64,000

Sundry creditors 61,500 Salaries 44,950

Bills Payable 22,000 Sales return 500

Sundry Debtors 55,000 Purchases return 2,550

Bills Receivable 72,600 Travelling expenses 12,300

Loan-from Shameem 2,50,000 Commission paid 250

Furniture & Fittings 12,250 Discount earned 2,000

Opening stock 2,23,500 Cash in hand 65,040

Cash at bank 86,250

Following are the ledger balances of Devi as on 31st December, 2016.

Debit balance Rs. Credit balance Rs.

  Purchases 35,000   Goodwill 40,000

  Salaries 11,750   Sundry debtors 20,500

  Drawings 4,500   Furniture 31,000

  Opening Stock 6,250   General expenses 3,250

  Capital 50,000   Commission received 2,750

  Sales 78,500   Loan 44,000

  Carriage inwards 21,800   Cash at bank 3,100

  Bad debts 600   Provision for bad debts 2,500

Prepare trading and profit and loss account for the year ended 31st December, 2016 and balance sheet as on that date.
(a) Stock on 31st December, 2016 Rs. 5,800.
(b) Write off bad debts Rs. 500.
(c) Make a provision for bad debts @ 5%.
(d) Provide for discount on debtors @ 2%.

The following trial balance is extracted from the books of Mis. Ram, on 31^st March, 2016. You are required to prepare trading and profit and loss account and the balance sheet as on date.

Particulars Rs. Particulars Rs.

Debtors 12,000 Premium 5,000

Purchases 50,000 Bills payable 10,000

Coal, Gas and Water 6,000 Bank overdraft 1,000

Factory Wages 11,000 Sales 80,000

Salaries 9,000 Creditors 13,000

Rent 4,000 Capital 20,000

Discount 3,000

Advertisement 500

Drawings 1,000

Loan 6,000

Petty Cash 500

Sales return 1,000

Machinery 5,000

Land and Building 10,000

Income Tax 100

Furniture 9,900

The following balances were extracted from the books of Thomas as on 31st March, 2018

Particulars Rs Particulars Rs

Purchases 75,000 Capital 60,000

Returns inward 2,000 Creditors 30,000

Opening stock 10,000 Sales 1,20,000

Freight inwards 4,000 Returns outward 1,000

Wages 2,000

Investments 10,000

Bank charges 1,000

Land 30,000

Machinery 30,000

Building 25,000

Cash at bank 18,000

Cash in hand 4,000

2,11,000 2,11,000

Additional information:
(a) Closing stock Rs 9,000
(b) Provide depreciation @ 10% on machinery
(c) Interest accrued on investment Rs 2,000
Prepare trading account, profit and loss account and balance sheet.

The following are the extracts from the trial balance.
Sundry debtors Rs. 30,000;
Bad debts Rs. 5,000
Additional information:
(a) Write off further bad debts Rs. 3,000.
(b) Create 10% provision for bad and doubtful debts.
You are required to pass necessary adjusting entries and show how these items will appear in profit and loss account and balance sheet.

The following balances are extracted from the books of Prabhu, as on 31st March, 2017. Prepare trial balance and transfer the difference if any to suspense account.

Particulars Rs Particulars Rs

Discount allowed 250 Loan borrowed 7,000

Cash in hand 4,200 Lighting 12,000

Capital 50,000 Commission paid 3,000

Salaries 12,000 Purchases 29,050

Furniture 7,500 Sales 35,000

From the following particulars of Mr. Manikandan, prepare a Bank reconciliation statement as on March 31, 2017.
a) The following cheques were paid into the firm's currentAlc in March but were credited by the bank in April: Anbu Rs 250, Balu Rs 350 and Chandru Rs 190.
b) The following cheques were issued by the firm in March and were cashed in April : Prince Rs 250, Queen Rs 450 and Raja Rs 400.
c) A cheque for Rs 100 which was received from a customer was entered in the bank column of the cash book in March but the same was paid into the bank in April.
d) The pass book shows a credit of Rs 250 for interest and a debit of Rs 100 for bank charges.
e) The balance as per cash book was Rs 18,000 as on 31.03.2017.

Give transactions with imaginary figures involving the following:
(i) Decrease in assets and decrease in capital
(ii) Increase in assets and increase in capital

Record the following transactions in the journal of Tmt. Bhanumathi.

2016 Feb Rs

3 Bought goods for cash 84,500

7 Sold goods to Dhanalakshmi on credit 55,000

9 Received commission 3,000

10 Cash Sales 1,09,000

12 Bought goods from Mahalakshmi 60,000

15 Received five chairs from Revathi & Co. at Rs. 400 each

20 Paid Revathi & CO., cash for five chairs

28 Paid Salaries 10,000

Paid Rent 5,000

From the following information, prepare bank reconciliation statement to find out the bank statement balance as on 31^st December, 2017.

Particulars Rs

1. Balance as per cash book 15,000

2. Cheques deposited but not yet credited 1,000

3. Cheques issued and entered in the cash book before 31st December 2017 but not presented for payment until that date 1,500

4. Dividend directly received by bank 200

5. Direct payment made by bank for rent 1,000

6. Locker rent charged by the bank not recorded in cash book 1,200

7. Wrong debit given by the bank on 30th December 2017 500

8. A payment made through net banking has been entered twice in the cash book 300

Deri is a sole trader dealing in automobiles. From the following transactions, pass journal entries for the month of January, 2018.

Jan. Rs

1. Commenced business with cash
With goods
with buildings 1,00,000
2,00,000
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

Anand bought a machinery for Rs.1,00,000 on 1-1-2015. On 1-6-2016, he bought another machine for Rs.50,000. On 1-10-2017, he purchased another machine for Rs.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.

Prepare Trial Balance as on 31.3.2014 from the books of Thiru. Sridhar.

Name of the account Rs Name of the account Rs

Capital 1,49,000 Drawings 14,000

General Expenses 7,000 Building 22,000

Machinery 68,680 Stock 32,400

Power, Fuel 4,480 Insurance 2,610

Wages 14,400 Creditors 55,000

Bad debts 1,100 Loan (Cr.) 35,760

Sales 1,30,720 Purchases 94,000

Car 1,44,000 General Reserve 1,800

Commission (Cr.) 4,640 Car Expenses 3,600

Bills Payable 17,700 Cash 14,740

Bank Overdraft 28,600 Discount (Dr.) 210

From the following information, prepare trading and profit and loss account of Abdul Rahuman for the year ending 31st December 2016 and balance sheet as on that date. The closing stock on 31st December 2016 was valued at Rs 2,000.

Particulars Rs Particulars Rs

  Opening stock 500   Purchases 1,300

  Sales 5,000   Wages 700

  Discount received   500   Salary 500

  Building 50,000   Capital 50,000

  Cash in hand 4,500

Prepare trading account from the following ledger balances presented by P. Sen as on 31st March 2016.

Particulars Rs. Particulars Rs.

  Stock (1-4-2015)   10,000   Sales 3,00,000

  Purchases 1,60,000   Returns inward 16,000

  Wages 30,000   Returns outward 10,000

  Carriage inwards 10,000   Gas and Fuel 8,000

  Freight inwards 8,000

Additional information:
(a) Stock on 31st March, 2016 Rs. 20,000
(b) Outstanding wages amounted to Rs. 4,000
(c) Gas and fuel was paid in advance for Rs. 1,000.

A company purchased machinery costing Rs 90,000 on January 1, 2015 and spent Rs 10,000 on its erection. On July 1, 2017, the machinery was sold for Rs 58,000. The company writes off depreciation at 20% p.a. underwritten down value method. Prepare machinery account. The books are closed on 31st December every year.

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