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11th Accountancy Monthly Test - 1 ( subsidiary books - II )

MABS Institution

11th Accountancy Monthly Test - 1 ( subsidiary books - II )-Aug 2020

Time : 2.30 Hours

Part - A

Multiple Choice Question - Answer All Question

When a firm maintains a simple cash book, it need not maintain_______.

Sales account in the ledger
Purchases account in the ledger
Capital account in the ledger
Cash account in the ledger

Which of the following is/are not a contra entry?

Cash deposited into bank
Cash withdrew form bank
Cash withdrawn for personal use
None of these

Cash discount is recorded in the___________.

Purchases book
Sales book
Cash book
Journal proper

A cash book with discount, cash and bank column is called_______

Simple cash book
Double column cash book
Three column cash book
Petty cash book

_________ transactions are not recorded in the cash book

Cash
Credit
Both
None of these

" Bills payable discounted in cash by creditor". This transaction will be recorded in__________.

Journal
Ledger
Bank book
No entry required to be made

The credit balance in the Bank account is____________.

An asset
A liability
An expense
None of the above

All the transactions which decrease bank balance are recorded in the ___________ column on the Credit side.

cash
credit
particular
bank

_______serves the purpose of a journal and a ledger.

cash book
purchase book
sales book
petty cash book

In triple column cash book, cash withdrawn from bank for office use will appear in ____________

debit side of the cash book only
both sides of the cash book
credit side of the cash book only
debit side of the pass book only

Part - B

Generic 2 - Answer All Question

Cash book of NTPC Ltd, shows a payment called 'Travel expense'. However, this travel was a personal travel of the managing director with no relation to business. Identify the value being violated.

What is contra entry?

Give a specimen of analytical petty cash book.

A cashier finds it difficult to maintain record of large volume of cash payments, ranging from Rs 5 to Rs 10,00,000. Can you suggest a way to reduce his work burden?

Is it convenient for him to record all the cash transactions in the simple cash book?
Give the specimen of 'Three column Cash book'.

What is three column cash book?

Will his personal bank account serve the purpose of his business transactions?

What is imprest system?

What is trade discount?

Part - C

Generic 3 - Answer All Question

Enter the following transactions in a simple cash book of Kunal:

2017

Jan Rs

1 Cash in hand 11,200

5 Received from ramesh 300

7 Pain Rent 30

8 Sold goods for cash 300

10 Paid mohan 700

27 Purchased furniture for cash 200

31 Paid salaries 100

Write notes on posting the petty cash book.

Explain the types of petty cash books?

When his business becomes large, what other books will he be maintaining?

What are the importance of cash book?

Enter the following transactions in a single column cash cash book of Pradeep for April, 2017

April Rs

1 Commenced Bussiness with cash 27,000

5 Bought goods for cash 6,000

10 Goods sold for cash 11,000

13 Paid into bank 5,000

14 Goods sold to Sangeetha for cash 9,000

17 Goods purchased from Preethi on credit 13,000

21 Purchased stationery by cash 200

25 Paid Murugan by cash 14,000

26 Commission paid by cash 700

29 Drew from bank for office use 4,000

30 Rent paid by cheque 3,000

Bring out the differences between cash discount and trade discount.

Enter the following transactions in a Single column Cash book of Mr. Kumaran.

Rs.

2018 Jan 1 Started business with cash 1,000

3 Purchased goods for cash 500

4 Sold goods 1,700

5 Cash received from Siva 200

12 Paid Balan 150

14 Bought Furniture 200

15 Purchased goods from Kala on credit 2,000

20 Paid electric charges 225

24 Paid salaries 250

28 Received commission 75

Write a brief note on accounting treatment of discount in cash book.

Briefly explain about contra entry with examples.

Part - D

Generic 5 - Answer All Question

Prepare analytical petty cash book in the books of Robert from the following transactions.

2017 Rs

Sept. 1 Balance in hand 230

Received a cheque to make the imprest amount 2,270

2 Postage 314

8 Railway freight 280

10 Repairs to computer 405

12 Printing charges 500

16 Refreshments to customers 72

20 Pen and ink purchased 183

22 Paid auto Charges 75

Prepare a cash book with cash, bank and discount column from the transaction given below:

2012, January Rs.

1 Cash Balance Rs.75,000 and Bank Balance 45,000

3 Deposited into Bank 60,000

4 Bought furniture and paid by cheque 7,500

5 Paid for repair 650

6 Goods purchased and paid by cheque 12,500

10 Received a cheque for Rs.21,000 from Chandran and allowed him discount 200

13 Gave Muthu a cheque for Rs.11,500and was received a discount of 150

15 Sarathy directly paid into our bank account 15,000

20 Withdrew for office use 2,500

28 Withdrew for personal use from bank 500

Prepare a analytical petty cash book from the following information on the imprest system:

2017 Rs

Jan 1 Received for petty cash 500

Jan 2 Paid rickshaw charges 5

Paid cartage 12

Jan 3 Paid for postage 15

Paid wages to casual labourer 66

Jan 4 Paid for stationery 134

Paid for auto charges 18

Jan 5 Paid for repairs 65

Paid for bus fare 11

Paid for cartage

Record the following transaction in the three column cash book of Rajeswari for the month of June, 2017

2017 June Rs

1 Cash balance 30,000

Bank balance 2,55,000

5 Money withdrawn from bank for personal use 7,500

7 Sold goods for cash 9,000

8 Received cheque from Nirmala for Rs.9,900

in full settlement of Rs.10,000

10 Nirmala's cheque deposited with bank

11 Sold goods to Dhanalakshmi on credit 7,000

16 Nirmala's cheque returned dishonoured

25 Withdrawn cash from bank for office use 5,000

28 Chelladurai a customer paid money into bank by debit card 10,000

30 Cash deposited in CDM 15,000

30 Interest credited by the bank 100

30 Payment made to Aavin through RTGS 2,00,000

How are postings made from the cash book?

Prepare analytical petty cash bok fom the following particulars under imprest system:

Rs

2017 July 1 Received advance form cashier 2,000

7 Paid for writing pads and registers 100

8 Purchased white paepers 50

10 Paid auto charges 200

15 Paid wages 300

18 Postal charges 100

21 Purchased stationery 450

23 Tea expenses 60

25 Paid for speed post 150

27 Refreshment expenses 250

31 Paid for carriage 150

Enter the following transactions in cash book with discount and cash column of Anand

Rs

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 Rs 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

Enter the following transaction in the Three Column Cash Book of Mr. Albert.

2012, May Rs.

1 Cash in hand Rs.30,000 and Cash at bank 2,000

.3 Received cheque for goods sold to Arun and banked it 1,000

5 Paid into bank 4,000

9 ·Paid cash to David from whom goods worth Rs.6,000 were purchased for
credit on 1st May on term 2% cash discount within two weeks.

10 Paid to Robert by cheque Rs.2,400 in full settlement of his account of 2,500

12 Received cash from Nathan Rs.4,750. Discount allowed 250

19 Interest allowed by bank 200

20 Robert to whom we have issued a cheque has reported that our cheque is dishonoured.

22 Roshan got exchange a five hundred rupee note.

31 Paid into bank all cash in excess of 5,000

Enter the following transactions m cash book WIth cash and bank columns. Balance the cash book.

2013, May Rs.

1 Cash in hand 30,000

2 Paid into bank 10,000

3 Cash purchases 2,500

4 Loan obtained from Vasan 10,000

5 Cash deposited in bank 7,500

6 Cash sales 2,500

8 Rent paid by cheque 2,000

10 Cash withdrew for office use 4,000

14 Paid Nataraj Rs.300 by M.O.

15 Akilan directly paid into our bank account 3,000

25 Cash withdrawn from bank 5,000

Write out a cash book with discount, cash and bank columns in the books of Mahendran.

2017 Oct Rs

1 Cash balance 12,000

2 Bank balance 48,500

3 Received a cheque from Kesavan 150

4 Paid Shanmuganathan cheque for Rs 7950 and discount allowed by him 50

6 Cash Sales 17,800

7 Paid Sivasamy in cash 10,000

15 Withdrew cash from bank 6,000

17 Purchased goods and payment made through credit card 14,500

20 Received cash from Janarthanam Rs.10,000 and discount allowed to him 100

21 Cash remitted into bank through CDM 12,000

24 Bought furniture for office use by cash 15,000

28 Deepavali advance paid to staff through bank 10,000

30 Salary for staff paid by cash 4,500

Salary of Manager paid by through net banking 12,500

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