Question Paper 11 Accounts Time: 3Hrs Max Marks: 80
Question Paper 11 Accounts Time: 3Hrs Max Marks: 80
Question Paper 11 Accounts Time: 3Hrs Max Marks: 80
11th ACCOUNTS
Q4. On 1st January, 2014, A drew a bill on B for Rs.20,000 payable after 3
months. B accepted the bill and returned it to A. After 10 days, A endorsed the
bill to his creditor, C. On the due date, the bill was dishonoured and C paid
Rs.200 as noting charges. Record the transactions in the books of A, B and C. [4
marks]
Q5. Give any two difference between Reserves and Provisions. [4 marks]
Q6. From the following particulars, find out the errors in cash book and bank
statement and prepare Bank Reconciliation Statement as on 31-05-2016 for
Ammar Ahmed Sugar Mill Ltd:
i. Balance as per passbook overdraft of Rs. 2,118.
ii. The debit side of the cash book had been undercast by Rs. 300.
iii. A check for Rs. 182 drawn for the payment of telephone bill had been entered
in the cash book as Rs. 281 but was shown correctly in the bank statement.
iv. A check for Rs. 210 by the customer having been deposited into bank was
dishonored by the bank a check was credited twice in Cash Book for worth Rs.
3,000.
v. A Dividend of worth Rs. 90 had been collected by the bank but not recorded in
the cash book.
vi. Checks Rs. 3,000 drawn in December but only 1,200 presented for payment.
vii. Interest amounting 228 had been debited by the bank but not entered in the
cash book.
viii. A check for Rs. 2,077 was issued by the company for purchase of
merchandise and was paid by the bank but not recorded in company’s book.
ix. A check for Rs. 10,500 issued to Salman & Co. for purchase of Equipment
was not encashed. [6marks].
Q8. From the following Trial Balance of M/s. Shradha & Sons as on 31st March,
2018, prepare Trading and Profit and Loss Account and Balance Sheet.
Dr. Cr.
Balanc Balanc
Heads of Accounts
e e
(₹ ) (₹ )
Capital ............................................................................. … 80,000
...
Drawings ............................................................................. 18,000 …
...
Sales ............................................................................. … 1,55,00
... 0
Purchases ............................................................................. 82,600 …
...
Stock (1st April, ............................................................................. 42,000 …
2017) ...
Returns Outward ............................................................................. … 1,600
...
Carriage Inwards ............................................................................. 1,200 …
...
Wages ............................................................................. 4,000 …
...
Power ............................................................................. 6,000 …
...
Machinery ............................................................................. 50,000 …
...
Furniture ............................................................................. 14,000 …
...
Rent ............................................................................. 22,000 …
...
Salary ............................................................................. 15,000 …
...
Insurance ............................................................................. 3,600 …
...
8% Bank Loan ............................................................................. … 25,000
...
Debtors ............................................................................. 20,600 …
...
Creditors ............................................................................. … 18,900
...
Cash in Hand ............................................................................. 1,500 …
...
Total 2,80,50 2,80,50
0 0
Adjustments:
(i) Closing Stock ₹ 64,000.
(ii) Wages outstanding ₹ 2,400.
(iii) Bad Debts ₹ 600 and create a provision for doubtful debt @ 5% after
creating a provision of 10% on provision on discounts on debtors.
(iv) Provision for Doubtful Debts to be 5%.
(v) Rent is paid for 11 months.
(vi) Insurance premium is paid per annum, ended 31st May, 2018.
(vii) Loan from the bank was taken on 1st October, 2017.
(viii) Provide Depreciation on machinery @ 10% and on Furniture @ 5%. [8
marks].
Q9. Give any two difference between Reserves and Provisions . [4 marks].
Jun 5th : Acquired the running business of Max, for cash 50, 000 by taking over
the following assets and liabilities at values stated against them:
OR
What is Matching concept? Why should a business concern follow this concept?
Discuss. [8marks]
Q13.