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12th Standard English Medium Accountancy Subject Accounts From Incomplete Records Book Back 5 Mark Questions with Solution Part - II Question Bank Software Jun-03 , 2021

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

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

12th Standard

    Reg.No. :
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Accountancy

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

    Part I

    5 x 5 = 25

  1. Ahmed does not keep proper books of accounts. Find the profit or loss made by him for the year ending 31st March, 2018.

    Particulars 1.4.2017
    Rs    		 31.3.2018
    Rs
    Bank balance 14,000 (Cr.) 18,000 (Dr.)
    Cash in hand 800 1,500
    Stock 12,000 16,000
    Debtors 34,000 30,000
    Plant 80,000 80,000
    80,000 40,000 40,000
    Creditors 60,000 72,000

    Ahmed had withdrawn Rs. 40,000 for his personal use. He had introduced Rs.16,000 as capital for expansion of his business. A provision of 5% on debtors is to be made. Plant is to be depreciated at 10%.

  2. From the following details of Abdul who maintains incomplete records, prepare Trading and Profit and Loss account for the year ended 31st March, 2018 and a Balance Sheet as on the date.

    Particulars 1.4.2017
    Rs.    		 31.3.2018
    Rs.
    Stock 1,00,000 50,000
    Sundry debtors 2,50,000 3,50,000
    Cash 25,000 40,000
    Furniture 10,000 10,000
    Sundry creditors 1,50,000 1,75,000
    Other details:
      Rs.   Rs.
    Drawings 40,000 Cash received from debtors 5,35,000
    Discount received 20,000 Sundry expenses 30,000
    Discount allowed 25,000 Capital as on 1.4.2017 2,35,000
    Cash paid to creditors 4,50,000    

  3. Arjun carries on grocery business and does not keep his books on double entry basis. The following particulars have been extracted from his books:

    Particulars 1-4-2018
    Rs.    		 31-3-2019
    Rs.
    Plant and machinery 20,000 20,000
    Stock 9,000 16,000
    Sundry debtors 2,000 5,300
    Sundry creditors 5,000 4,000
    Cash at bank 4,000 6,000

    Other information for the year ending 31-3-2019 showed the following

      Rs.
    Advertising 4,700
    Carriage inwards 8,000
    Cash paid to creditors 64,000
    Drawings 2,000

    Total sales during the year were Rs. 85,000. Purchases returns during the year were Rs. 2,000 and sales returns were Rs.1,000. Depreciate plant and machinery by 5%. Provide Rs. 300 for doubtful debts. Prepare trading and profit and loss account for the year ending 31st March, 2019 and a balance sheet as on the date.

  4. Ananth does not keep his books under double entry system. Find the profit or loss made by him for the year ending 31st March, 2019.

    Particulars 31.3.2018
    Rs.    		 31.3.2019
    Rs.
    Cash at Bank 5,000 (Dr.) 60,000 (Cr.)
    Cash in hand 3,000 4,500
    Stock of goods 35,000 45,000
    Sundry Debtors 1,00,000 90,000
    Plant and Machinery 80,000 80,000
    Land and Buildings 1,40,000 1,40,000
    Sundry Creditors 1,70,000 1,30,000

    Ananth had withdrawn Rs. 60,000 for his personal use. He had introduced Rs. 17,000 as capital for expansion of his business. Create a provision of 5% on debtors. Plant and machinery is to be depreciated at 10%.

  5. From the following details of Rakesh, prepare Trading and Profit and Loss account for the year ended 31st March, 2019 and a Balance Sheet as on that date.

    Particulars 31.3.2018
    Rs.    		 31.3.2019
    Rs.
    Stock of goods 2,20,000 1,60,000
    Debtors 5,30,000 6,40,000
    Cash at bank 60,000 10,000
    Machinery 80,000 80,000
    Sundry creditors 3,70,000 4,20,000

    Other details:

    Particulars Rs. Particulars Rs.
    Rent paid 1,20,000 Cash received from debtors 12,50,000
    Discount received 35,000 Drawings 1,00,000
    Discount allowed 25,000 Cash sales 20,000
    Cash paid to creditors 11,00,000 Capital as on 1.4.2018 5,20,000

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