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11th Standard English Medium Accountancy Subject Final Accounts of Sole Proprietors - I Book Back 3 Mark Questions with Solution Part - I

11th Standard English Medium Accountancy Subject Final Accounts of Sole Proprietors - I Book Back 3 Mark Questions with Solution Part - I

11th Standard

    Reg.No. :
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Accountancy

Time : 00:30:00 Hrs
Total Marks : 15

    Part I

    5 x 3 = 15

  1. What is meant by grouping and marshalling of assets and liabilities?

  2. From the following details for the year ended 31st March, 2018, prepare trading account.

     Particulars   Rs   Particulars   Rs 
      Opening stock     2,500   Returns inwards       7,000
      Purchases  27,000   Coal and gas 3,300
      Sales    40,000   Carriage inwards 2,600
      Wages 2,500   Closing stock 5,200
      Returns outwards    5,200    

  3. Compute cost of goods sold from the following information:

     Particulars   Rs   Particulars   Rs 
      Opening stock       10,000   Indirect expenses       5,000
      Purchases 80,000   Closing stock 15,000
      Direct expenses    7,000    

  4. Prepare profit and loss account in the books of Kirubavathi for the year ended 31st December, 2016 from the following information:

     Particulars   Rs   Particulars   Rs 
      Gross Profit       12,500   Interest received      100
      Discount allowed    60   Carriage outwards    100
      Rent 500    

  5. From the following particulars, prepare balance sheet in the books of Bragathish as on 31st December 2017:

     Particulars   Rs   Particulars   Rs 
      Capital      80,000   Cash in hand       20,000
      Debtors 12,800   Net profit 4,800
      Drawings 8,800   Plant 43,200

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