11th Accountancy Weekly Test - 2 ( Books of Prime Entry )

MABS Institution

11th Accountancy Weekly Test - 2 ( Books of Prime Entry )-Aug 2020

Time : 1.30 Hours

Part - A

Generic 2 - Answer All Question

What is meant by Opening Journal Entry?

Can you think of some business units that have only cash transactions?

What is accounting equation approach?

What is meant by journalising?

Give any two transaction that decreases the Capital A/c.

What is traditional approach?

Give the golden rules of double entry accounting system.

If the total assets of a business are Rs.3,60,000 and capital is Rs.2,00,000, calculate liabilities.

What is cash memo?

Identify the business documents involved in this case study.

Part - B

Generic 5 - Answer All Question

Pass journal entries in the books of Sasi Kumar who is dealing in automobiles

2017 Oct. Rs

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 settlemen 23,000

25 Paid salaries through ECS 2,000

30 Sahil took for personal use goods worth 10,000

2017 Oct.		Rs
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 settlemen	23,000
25	Paid salaries through ECS	2,000
30	Sahil took for personal use goods worth	10,000

Mohit has the following transactions, prepare accounting equation

Rs

i) Business started with Cash 1,75,000

ii) Purchased goods from Rohit 50,000

iii) Sold goods on credit to Manish (Costing Rs.17,500) 20,000

iv) Purchased furniture for office use 10,000

v) Cash paid to Rohit in full settlement 48,000

vi) Cash received from Manish 20,000

vii) Rent paid 1,000

viii) Cash withdrew for personal use 3,000

		Rs
i)	Business started with Cash	1,75,000
ii)	Purchased goods from Rohit	50,000
iii)	Sold goods on credit to Manish (Costing Rs.17,500)	20,000
iv)	Purchased furniture for office use	10,000
v)	Cash paid to Rohit in full settlement	48,000
vi)	Cash received from Manish	20,000
vii)	Rent paid	1,000
viii)	Cash withdrew for personal use	3,000

State the nature of account and show which account will be debited and which account will
be credited. 1. Commission received, 2. Computer purchased, 3. Typewriter sold, 4. Rent
paid, 5. Capital introduced.
Show the effect of following business transactions on the accounting equation.
(i) Anbu started business with cash Rs 20,000; goods Rs 12,000 and machine Rs 8,000
(ii) Purchased goods from Ramani on credit . Rs 7,000
(iii) Payment made to Ramani in full settlement Rs 6,900
(iv) Sold goods to Rajan on credit costing Rs 5,400 for Rs 6,000
(v) Received from Rajan Rs 5,800 in full settlement of his account
(vi) Wages outstanding Rs 400

Journalise the following transactions of Mr. Esakimuthu. 2016, June

Date Rs.

1 Received cash from Nagaraj 30,000

2 Cash withdrawn by Esakimuthu for his personal use 500

5 He purchased goods from Lakshmanan for 5,000

10 He sold goods Murugan for 10,000

15 He deposit into bank 5,000

20 Paid Lakshmanan in full settlement of his account 4,800

25 Received from Murugan in full settlement of his account 9,750

Date		Rs.
1	Received cash from Nagaraj	30,000
2	Cash withdrawn by Esakimuthu for his personal use	500
5	He purchased goods from Lakshmanan for	5,000
10	He sold goods Murugan for	10,000
15	He deposit into bank	5,000
20	Paid Lakshmanan in full settlement of his account	4,800
25	Received from Murugan in full settlement of his account	9,750

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11th Accountancy Weekly Test - 2 ( Books of Prime Entry )

MABS Institution

11th Accountancy Weekly Test - 2 ( Books of Prime Entry )-Aug 2020

Part - A

Generic 2 - Answer All Question

What is meant by Opening Journal Entry?

Can you think of some business units that have only cash transactions?

What is accounting equation approach?

What is meant by journalising?

Give any two transaction that decreases the Capital A/c.

What is traditional approach?

Give the golden rules of double entry accounting system.

If the total assets of a business are Rs.3,60,000 and capital is Rs.2,00,000, calculate liabilities.

What is cash memo?

Identify the business documents involved in this case study.

Part - B

Generic 5 - Answer All Question

State the nature of account and show which account will be debited and which account will be credited. 1. Commission received, 2. Computer purchased, 3. Typewriter sold, 4. Rent paid, 5. Capital introduced.

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State the nature of account and show which account will be debited and which account will
be credited. 1. Commission received, 2. Computer purchased, 3. Typewriter sold, 4. Rent
paid, 5. Capital introduced.