Sample Paper Accountancy

Class X)
Sub Code : 055

Attempt all questions.

1. In a business ‘Purchases’ refers to the

a) Purchase of an article to be used in office
b) Purchase of goods for resale
c) Purchase of an assets to be used in factory
d) All of the above
2. In case of interstate purchase fill the following assuming that GST rate is 12%
Purchases A/c …………………Dr ………………………
Input IGST A/c …………………. Dr (30000)
To Shyam A/c
a) Purchases Rs. 60000 Shyam Rs. 90000
b) Purchases Rs. 250000 Shyam Rs. 280000
c) Purchases Rs. 280000 Shyam Rs. 250000
d) Purchases Rs. 90000 Shyam Rs. 60000
3. Which of the following is not a business transactions ?
a) Withdrew Rs. 10000 from business for personal use by proprietor
b) Proprietor withdrew Rs. 20000 from the bank A/c of the firm to pay the fees of his son
c) Proprietor withdrew Rs.12000 from his bank account to pay the fees of his son
d) Goods taken worth Rs. 3000 for personal use
4. Cash deposited into the bank Rs. 50000 will be recorded as in two column cash book with cash &
bank column
a) Debit of bank column with Rs. 50000 and credit of cash column with 50000
b) Debit of cash column with Rs. 50000 and credit of bank column with Rs. 50000
c) Debit of bank column with Rs. 50000 and debit of cash column with Rs. 50000
d) Debit of cash column Rs. 50000 and credit column of Passbook Rs. 50000
5. The nature of capital is
a) An asset b) A liability c) an Income d) an expense
6. A firm earns a revenue of Rs. 21000 and the expenses to earn this revenue are Rs. 15000. Calculate
its income.
7. Give one points of difference between original cost method and written down value method of
providing depreciation.
8. Name the external user who are concerned with accounting information.
9. What is a debit note ?
10. What is a Bank Reconciliation statement ?
11. Under which accounting principle quality of manpower is not recorded in the books of account.
12. What do you mean by Suspense Account ?
13. Give a formula to calculate cost of Goods sold ?
14. “Profit and Loss A/c is a point statement whereas a Balance sheet ia a period statement “. Do you
agree ?
15. Give one example of contingent liabilities.
16. If closing stock appears in the Trial Balance then it will be appearing in ………………………..
a) Trading A/c c) Balance Sheet
b) Profit & Loss A/c d) Trading A/c & Balance Sheet
17. State whether the following statement is True or False :
Accrued income appearing in the Trial balance is shown in Pri A/c
18. Which Account is debited for creating provision for doubtful debts ?
(1x18=18)
19. Explain the following terms : a) Bad debts b) Vouchers (3)
20. (a) Explain briefly going concern co
concept . (2)
b) Give one point difference between cash basis & Accrual basis of accounting. (1)
21. Pass the journal entries for the following :
a) Purchase goods from Rahul of List price Rs. 180000 at 10 % Trade discount & 5% cash
discount
ount . Half of the payment made by cheque.
b) Sold goods to Brij costing Rs. 50000 at 40 % profit allowing 10% Trade discount 5 % cash
discount paid full amount by cheque.
c) Goods costing 80000 lost by fire insurance company admits claim of 60 %
d) Rent due but not paid 6000
e) Good of Rs. 7000 and cost 22000 withdrew by proprietor for personal use.
f) Purchase building for Rs. 200000 by cheque and paid 10 % registration fees on its in cash
(6)
22. Prepare Returns Inward and Returns Outward Books from the following in the books of Modern Shoes,
Kolkata (West Bengal) assuming CGST @ 6% and SGST @ 6% ::-

(6)

23. Ashoka Ltd. bought a machine on 1st April, 2010 for Rs. 2,40,000 and spent Rs. 4,000 on its
carriage and Rs. 6,000 towards installation cost. On 1st July, 2011 it purchased a second hand
machinery for Rs. 75,000 and spent Rs. 25,000 on its overhauling.
On 1st January, 2013 it decided to sell the machinery bought on 1st April, 2010 at a loss of Rs.
20,000. It bought another machine on the same date for Rs. 40,000. Company decided to charge
depreciation @ 15% p.a. on written down value method. Prepare machinery account for 3 years.
Books are closed each year on 31st March
March.
24. From the following information supplied by Sanjay, prepare his Bank Reconciliation Statement as
on December 31, 2016:
 (i) Bank overdraft as per Pass Book. – Rs. 16,500
(ii) Cheques issued but not presented for payment. – Rs. 8,750
(iii) Cheques deposited with the Bank but not collected. – Rs. 10,500
(iv) Cheques recorded in the Cash Book but not sent to the bank
for collection. – Rs. 2,000
(v) Payments received from customers directly by the bank. – Rs. 3,500
(vi) Bank charges debited in the Pass Book. – Rs. 200
(vii) Premium on Life Policy of Sanjay paid by the bank on standing advice. – Rs. 1,980
(viii) A bill for Rs. 3,000 (discounted with the bank in November) dishonoured
on December 31, 2016 and noting charges paid by the bank. – Rs. 100
(6)

25. Trial balance of Kohli did not agree and showed an excess debit of Rs. 16,300. He put the difference to
a suspense account and discovered the following errors.
a) Cash received from Rajat Rs. 5,000 was posted to the debit of Kamal as Rs. 6,000.
b) Salaries paid to an employee Rs. 2,000 were debited to his personal account as Rs. 1,200.
c) Goods were withdrawn by the proprietor for personal use Rs. 1000 were credited to sales account as
Rs. 1,600.
d) Depreciation provided on machinery Rs. 3,000 was posted to machinery account as Rs. 300.
e) Sale of an old car for Rs. 10,000 was credited to sales account as Rs. 6,000.
Rectify the errors and prepare a suspense account.
(6)
26. i) State with reasons whether the following are Capital or Revenue expenditures : -
(a) An old plant costing Rs. 1,00,000 was purchased , Rs. 2,000 were paid on its carriage , Rs. 3,000
were spent on its repairs and Rs. 4,000 were paid to an engineer who had supervised its
installation.
(b) Rs. 2,00,000 spent for repairing the factory building.
(c ) Legal expenses incurred on purchase of Land.
(d) Rs. 10,000 were spent on lawyer's fees to defend a suit claiming that the firm's factory site
belonged to the plaintiff.
(e) Expenditure on Advertisement Rs. 25,000.
(f) Rs. 25,000 paid to a discharges employee as compensation.
(g) Repairs for Rs. 2,000 necessitated by negligence.
(h) Insurance claim of Rs. 20,000 received from the insurance company for loss of goods by fire of
Rs. 25,000.

ii) Net Sales during the year ended 31st march, 2015 is Rs. 6,00,000. Gross Profit is 25 % on cost.
Find out Gross Profit and Cost of goods sold.
(4+4)
27. From the following particulars, prepare a Cash Book with Cash and Bank column:
2017
Jan 1 Balance of Cash in hand Rs 15000 and Bank overdraft Rs 6000.
Jan3 Issued a chequeof Rs 4800 to black and earned a discount of Rs200.
4 Direct deposit by Mr Kapil in our bank account Rs 3800. Discount allowed Rs200.
8 Goods worth Rs 10000 were sold to Ganesh . Its payment was received today by cheque after
deducting 5% discount.
10 Deposited Rs 20000( including the Ganesh cheque) into Bank.
12 Arun who owed us Rs 6000 became insolvent and paid 60 pasie per Rs.
17 Goods purchased from Raghu for Rs 8000. Payment is made after deducting 3% cash discount.
22 Ganesh’s cheque returned dishonoured by Bank . The Bank charges Rs 200 on this cheque.
25 X settled his account of Rs 7000 by Cheque Rs 6850. Cheque was deposited imto the bank on 28
January.
28 Settled Y’s account of 8000 by cheque after deducting three from 2.5% Cash discount.
30 Cash in excess of Rs 1000 was deposited into bank.
(8)

28. The following is the trial balance of Ram Krishan Vyas on 31st March, 2019. Prepare trading and profit
and loss account and Balance Sheetheet after making the following adjustments.
(i) Value of closing stock Rs. 29,638.
(ii) Depreciate
epreciate plant and machinery 1010% , furniture 5% and horses and carts by Rs. 1,000 also write
off goodwill by Rs. 3,000.
(iii) Provide 5% for doubtful debts on debtors.
(iv) Prepaid expenses: Insurance Rs. 300 and taxes Rs. 190.
(v) 3/5th of insurance and taxes, rent and general expenses to be charged to factory and the balance
to the office.
(vi) Advertising is to be written off over 3 years.
(vii) Commission to manager @ 10% on net profit after changing such commission.

(10)