Annual Examination (2023-24) Accountancy. Marks: 80 Time: 3 hr 1) IPcapital of a business is 5,00,000 and outside liabilities are 2,00,000, Calculate the total assets of the business. « a 2)Goods given as charity should be credited to —L— a/c, a 3) Wages paid for installation of Machinery 5,000. Pass Journal Entry. a) 4) Cash Sales 40,000; Out of this 30,000 deposited in bank. Pass journal Entry a) 5) A company purchased a machine om 1*' Jan 2019 for 1,20,000 and spent 10,000 on its installation. Its residual value after 10 years is 5,000. Depreciation is provided on straight line method and books are closed on 31 Dec each year. Calculate the amount of Depreciation on 31° Dec 2020. (1) 6) Calculate the amount of Gross Profit, when net loss is 75,000, Operatis and Sales are 3,00,000. 7) Shyam purchased a building for 20,00,000. After 5 years the depreciation charged on the building amounted to 3,00,000. The current value of the building is 28,00,000, State the value at which building should be recorded in the books of accounts. a 8) Som purchased 25 bats @500 each and 30 balls @ 100 each from Kesar trade discount at 10%, What amount will be transferred to Som Account? @ 9) Pass Compound entry; April 3" 2020; Paid wages 2000, Advertising expenses 2500. (1) 10) What will be the amount of capital in opening entry, if the following balances appear in the books of SK Sons? Cash in hand 430, Cash at bank 2675, Debtors 7495, closing stock 9,000, Machinery 6,000, Creditors 5,600. (i) 11)Purchased goods from Rahul of list price 50,000 for cash at 20% trade discount and received 3% iscount, Calculate the amount credited to Discount a/c. w cash 12) Calculate profit or loss made during the year; Opening capital 8,00,000; Amount used for personal use 2,50,000; Capital introduced during the year 30,000, Closing capital 6,20,000. (1) 13)Prepare trial balance of Ankit on 31% March 2019; 3) Capital ___| 24,000 | Carriage [Opening stock 8,500 | Sales Furni 2,600 | Building 8.950 | Return Inward 7,300 | Return Outward‘penses 3,000 scount Received | [Office Rent "2.270 14) From the following, Prepare Petty Cash Book for the month of May 2020: 8) May | Received for Petty Cashier 6,000; | May 2 Paid Conveyance 650; May 4 Paid Cartage 950 May 6 Paid Stationery 400 May 7 Paid Postage 1,200 May 10 Paid Repairs 1,500 May 12 Paid Telephone Expenses 200 May 15 Paid Wages 600. 15)Record the following transactions in the Sales Book of Ganesh Electronics. Kolkata assuming CGST @ 9% and SGST @ 9%. 3) 2023, Jan 3 Sold to Ruchika Electronics, Kolkata Invoice No 431 5 Colour TV Sets @ 20,000 each, Less Trade Discount 20% Jan 10 Sold to Garima Electronics, Patna (Bihar) Invoice No 432 10 Washing Machine @ 8,0000 each, Less Trade Discount 25%. Jan 12 Sold to Raghav & Sons, Kolkata, Cash Memo No 2510 6 colour TV Sets @ 18,000 each Less Trade Discount 15% Jan 16 Sold to Nithin Trading Company, Jharkhand Invoice No 433, 8 Music System @ 15,000 each ,10 Colour TV Sets @ 22,000 each, Less Trade Discount 20%. 16) Prepare Ledger from the following information; @) 2021 May 2 Purchased office furniture for cash 20,000; May 6 Solel goods for cash 5000; May 10 Paid electricity charges 1500. 17)Pass journal entries from the followings 8) 2023 Aug 2 Started business with 6,00,000; paid into bank 4,00,000. ‘Aug 6 Purchased goods for 1,40,000 in all, out of which half the goods were on credit from Sunil. Aug 9 Sold goods to Arun for 2,00,000. Arun pays 1/4"* amount in cash. 18) Prepare Sales Return Book of Ram Lal & CO (Haryana) assuming CGST (@6% and SGST @6%. 2023 April 6 Goods returned by Prasad & Co, Haryana; | Table Fan @ 6,000 less trade discount 15%.April 12 Shyam Oil Mills returned (Haryana) defective goods valued 40,000. April 18 Sanjay & Co returned to us (Haryana) goods being damaged 2,500, @) 19) From the following information, prepare Trading account for the year ending 31% March 202: Opening Stock 40,000; Purchases 4,20,000; Expenses on purchases 8,000; Expenses on sales 15,000; Wages 30,000; Sales 6,00,000; Closing Stock 52,000. tof goods sold. _(4) ie cost of goods sold and gross prot 20) A’company bought a Machinery on 1* April 2010 for 2,00,000 including a boiler for 20,000. ‘The machinery a/c had been credited for depreciation on written value method for the past four years at the rate of 10%, During the 5" year it sold for 4,000, Prepare machinery account for 5 years. é ) 21) Pass journal entries for the following; 1) Received 20,000 from Subhash, which were written off as bad debts in the previous year. 2) Salaries due to clerks 5,000. 3) Provide 10% depreciation on furniture costing 50,000. 3) Out of rent paid this year, 10,000 is related to next year. 4) Paid to Seena 9650 in full payment of her dues of 10,000. (4) oc 22) On 1" April2022 Alka started the business with a capital of 78,000, On 31° March 2023 her incomplete records could provide the following data; JAN 86D othe LyAmount duc to suppliers of ray materials, 17,500. 2) Stock of raw material 2,000 and finished produpts 2,500. 3) Fixed asses 34,000. 4) Amount due from customers 42,000. 5) She had, withdrawn 2500 per month for meeting personal expenses. 6) She had introduced 7,000 as Capital during the year. 7) She has cash at bank 21,000 and cash in hand 1,800.8) Outstanding electricity bill 2,250. Calculate the profits / loss of her business during the year using statement of affairs method. (4) 23) Prepare Accounting Equation from the following; hy oth 1) Kunal started business with eash 2,50,000. 2) He purchased furniture for eash 35,000. aq soe ef sas ago 3) He paid commission 2,000. 4) He purchased goods on credit 40,000 <4" 5) He sold goods (costing 20,000) for Cash 26,000. @ #880 13,229 24) Record the following transaetions in double column cash book of Mr Rakesh Verma and ed Sep 01 Balance of Cash 22,000 and Bank Overdraft 2,500, Sep 06 Received cheque for 4,000 from Gaurav sent into the bank. TagaaeSep 10 Bank has collected and deposited; Interest of 6,000; Dividend of 8,000; Sep 16 Bank has paid several payments on its due date; Insurance premium of 3,000 and school fees of the child of Rakesh Verma 5,000. Sep 24 Cash deposited into the bank 12,000. Sep 29 Sold goods (costing 25,000) at 20% profit for (6) 25) From the following information prepare Trading & Profit and Loss a/e for the year ended on 31% March 2021 ue v x fur Purcha ,000; Rent paid7480; Sales 5,30,000; Return Outward 8,000; Wages 33, 000; Salaries 30,800; Power'$,400; Opening Stick 15,000; Closing Stock 36,000; Charity'2,000; Debtors 53,000; Furniture 8,000; Motor Car 2,00,000; Repairs {8,000; Insuranive 3,600; Unexpired Insurance 600; Drawind’s 5,000; Cash 33180; Creditots 37,000: Discount received 3,000: Capital 2,00,000; Commission received 3060. Adjustments: 1) Goods costing 3,500 were taken by the proprietor for his personal use. q»"® 6 2) Wages, Ren and Salaties for March 2021 have not paid. 2s 20000 jon on furniture and 20% on Motor car. 3) Provide 10% pre: Provide for manager's commission at 10% on net profit after charging such commission. (6) 26) Birla Cotton Mills purchased a machinery on 1* August 2020 for 90,000. On 1** October 2021 it purchased another machine for 40,000, On 30" June 2022 it sold off the first machine purchased in 2020 for 58,000 and on the same date purchased a new machinery for 1,00,000. Depreciation is provided at 20% p.a on the original cost each year. Accounts are closed each year on 31 March, Show the Machinery Account for 3 years. 9° (6) 27) Show the effect of following transactions on the Accounting Equation; io ce 36,09 oO 1) Manoj started business with Cash 2,30,000, Goods 1,00,000, Building 2,00,000. 4° sa 0 2) He purchased goods for cash 50,000. 3)He sold goods for cash (costing 20,000) for 35,000. 4) He purchased goods from Rahul 55,000. 5) He sold goods to Varun (costing 52,000) for 60,000. 6) He| paid cash to Rahul in full settlement 53,000, , 7) Salary paid by him 20,000. aa garb SUPE an ve FOO 6 AiG 60 o¢, 160 57 108 {8/000 2 (OC ee28) From the following prepare Trading & Profit and Loss we for the year ended 31 March 2020 and Balance Sheet as on that da ry 24 a 000; Buildin ng 1,50,000: Debtors 2,70,000; Drawings 90,000; Purchases 9,50,000: ‘Wages 5,00:000 Bad debis 10,000; Bank 1,50,000: Opening Stock 2,00,000; Rent 45,000; Surry Expenses Carriage 15,000; Capital 10,00,000: Creditors 1 40,000; Sales 14-50,000: Adjustment; Closing Stock valued at-70,000 but its market value is 60:000. 6) SeHrSOEROn EEE