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12th Standard English Medium Accountancy Subject Accounts From Incomplete Records Book Back 5 Mark Questions with Solution Part - I updated Book back Questions

12th Standard English Medium Accountancy Subject Accounts From Incomplete Records Book Back 5 Mark Questions with Solution Part - I

12th Standard

    Reg.No. :
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Accountancy

Time : 00:30:00 Hrs
Total Marks : 25

    Part I

    5 x 5 = 25

  1. Bharathi does not maintain her books of accounts under double entry system. From the following details prepare trading and profit and loss account for the year ending 31st March, 2019 and a balance sheet as on that date.

    Dr.     Cash Book       Cr.
    Receipts Rs. Payments Rs.
    To balance b/d 32,000 By Purchases A/c 56,000
    To Sales A/c 1,60,000 By Creditors A/c 80,000
    To Debtors A/c 1,20,000 By General expenses A/c 24,000
        By Wages A/c 10,000
        By Balance c/d 1,42,000
      3,12,000   3,12,000

    Other Information:

    Particulars 1.4.2018
    Rs.    		 31.3.2019
    Rs.
    Stock of goods 40,000 60,000
    Debtors 38,000 ?
    Creditors 58,000 52,000
    Machinery 1,70,000 1,70,000
    Additional information:  Rs
    (i) Credit purchases 74,000
    (ii) Credit sales 1,40,000
    (iii) Opening capital 2,22,000
    (iv) Depreciate machinery by 10% p.a.  

  2. Pandian does not keep his books under double entry system. From the following information prepare trading and profit and loss account 

      1-1-2018
    Rs.    		 31-12-2018
    Rs.
    Furniture 30,000 30,000
    Cash in hand 10,000 17,000
    Debtors 40,000 60,000
    Stock 28,000 11,000
    Bills receivable 12,000 35,100
    Bank loan 25,000 25,000
    Creditors 15,000 16,000
      Rs.   Rs.
    Cash sales 11,200 Credit sales 88,800
    Cash purchases 4,250 Credit purchases 35,750
    Carriage on purchases 3,000 Carriage on sales 700
    Commission received 600 Interest on bank loan 2,500
    Drawings 8,000 Additional capital 14,000
    Salaries 8,900 Office rent 2,400

    Adjustments:
    Write off depreciation of 5% on furniture. Create a provision of 1% on debtors for doubtful debts.

  3. From the following details you are required to calculate credit sales and credit purchases by preparing total debtors account, total creditors account, bills receivable account and bills payable account

    Particulars Rs. Particulars Rs.
    Balances as on 1st April 2018   Balances as on 31st March 2019  
    Sundry debtors 2,40,000 Sundry debtors 2,20,000
    Bills receivable 30,000 Sundry creditors 1,50,000
    Sundry creditors 1,20,000 Bills receivable 8,000
    Bills payable 10,000 Bills payable 20,000
    Other information Rs.    
    Cash received from debtors 6,00,000 Payments against bill payable 30,000
    Discount allowed to customers 25,000 Cash received for bills receivable 60,000
    Cash paid to creditors 3,20,000 Bills receivable dishonoured 4,000
    Discount allowed by suppliers 10,000 Bad debts 16,000

  4. Mary does not keep her books under double entry system. From the following details prepare trading and profit and loss account for the year ending 31st March, 2019 and a balance sheet as on that date.

    Dr.                          Cash Book                Cr.
    Particulars Rs. Particulars Rs.
    To Balance b/d 1,20,000 By Purchases 1,50,000
    To Sales 3,60,000 By Creditors 2,50,000
    To Debtors 3,40,000 By Wages 70,000
        By Sundry expenses 1,27,000
        By Balance c/d 2,23,000
      8,20,000   8,20,000

    Other information

    Particulars 1.4.2018 31.3.2019
    Stock of goods 1,10,000 1,80,000
    Sundry Debtors 1,30,000 ?
    Sundry Creditors 1,60,000 90,000
    Furniture and fittings 80,000 80,000

    Additional information
    Credit purchases 1,80,000
    Credit sales 2,90,000
    Opening capital 2,80,000
    Depreciate furniture and fittings by 10% p.a.

  5. Selvam does not keep his books under double entry system. From the following information prepare trading and Profit and loss A/c and Balance Sheet as on 31-12-2018

    Particulars 1-1-2018
    Rs.    		 31-12-2018
    Rs.
    Machinery 60,000 60,000
    Cash at bank 25,000 33,000
    Sundry debtors 70,000 1,00,000
    Stock 45,000 22,000
    Bills receivable 20,000 38,000
    Bank loan 45,000 45,000
    Sundry creditors 25,000 21,000

     

    Particulars Rs. Particulars Rs.
    Cash sales 20,000 Credit sales 1,80,000
    Cash purchases 8,000 Credit purchases 52,000
    Wages 6,000 Salaries 23,500
    Advertisement 7,000 Interest on bank loan 4,500
    Drawings 60,000 Additional capital 21,000

    Adjustments:
    Write off depreciation of 10% on machinery. Create a reserve of 1% on debtors for doubtful debts.

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