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TN 11th Accountancy Final Accounts of Sole Proprietors - I Sample Question Papers Study Material - QB365 Set A

Published on: 24/08/2026

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Std: 11th Standard - Accountancy

chapter: Final Accounts of Sole Proprietors - I - Sample Question Papers

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Questions:

Generic 3

5 x 3 = 15

From the following particulars, prepare a balance sheet of Mr. Moorthy as on 31^st December 2013.

Particulars	Rs.	Particulars	Rs.
Capital	40,000	Drawings	4,400
Debtors	6,400	Creditors	4,200
Cash in hand	360	Cash at bank	7,200
Furniture	1,000	Plant	10,000
To Net profit	1,660	General reserve	1,000
Closing stock	14,800

Prepare profit and loss account of Mrs. Nalini for the year ended 31^st December 2010 from the following:

Particulars	Rs.	Particulars	Rs.
Gross profit	1,25,000	Discount paid	600
Salaries	15,000	Discount received	1,000
Rent	5,000	Interest paid	500
Carriage outwards	1,000	Interest received	700
Selling expenses	500	Commission earned	2,000
Income from investment	1,500

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

From the following information, prepare profit and loss account for the year ended 31st March 2018.

Particulars	Rs	Particulars	Rs
Gross profit b/d	1,50,000	Advertisement expenses	3,800
Carriage outward	25,500	Bad debts	8,500
Office rent	7,000	Dividend received	9,000
Office stationery	3,500	Discount received	4,600
Distribution expenses	2,000	Rent received	7,000

From the following balances extracted from the books of M/s. Lavanya and sons, prepare trading account for the year ended 31^st March 2017:

Particulars	Rs	Particulars	Rs
Opening stock	16,500	Carriage inwards	1,200
Purchases	45,000	Wages	4,800
Sales	72,000	Fuel and power	3,200
Purchases returns	500	Closing stock	18,000
Sales returns	1,500

Generic 2

5 x 2 = 10

Prepare a trading account of Mr. Velu from the following figures:

Particulars	Rs.	Particulars	Rs.
Opening Stock	500	Sales	3,600
Purchases	2,500	Closing stock	300

From the following balances taken from the books of Saravanan, calculate gross profit for the year ended December 31, 2017.

Particulars	Rs	Particulars	Rs
Opening stock	1,50,000	Net sales during the year	4,00,000
Direct expenses	8,000	Net purchases during the year	1,50,000
Closing Stock	25,000

Prepare trading account in the books of Sivashankar from the following figures

Particulars	Rs	Particulars	Rs
Opening stock	1,500	Purchases	3,500
Sales	4,600	Closing stock	1,300

Name any two direct expenses and indirect expenses.

10.

Compute cost of goods sold from the following information:

Particulars	Rs
Opening stock	8,000
Purchases	60,000
Direct expenses	5,000
Indirect expenses	6,000
Closing stock	9,000

Generic 5

3 x 5 = 15

11.

Prepare trading and profit and loss account and balance sheet in the books of Deri, a trader, from the following balances as on March 31, 2018.

Debit Balances	Rs	Credit Balances	Rs
Stock	10,000	Sales	1,22,500
Cash	2,500	Creditors	5,000
Bank	5,000	Bills payable	2,000
Freight inwards	750	Capital	1,00,000
Purchases	95,000
Drawings	4,500
Wages	27,500
Machinery	50,000
Debtors	13,500
Postage (office)	150
Sundry expenses	850
Rent paid	2,500
Furniture	17,250
	2,29,500		2,29,500

Closing stock (31st March, 2018) Rs. 8,000.

12.

Prepare trading and profit and loss account in the books of Ramasundari for the year ended 31st December 2017 and balance sheet as on that date from the following information:

Particulars	Rs	Particulars	Rs
Opening stock	2,500	Sales	7,000
Wages	2,700	Purchases	3,300
Closing Stock	4,000	Salary	2,600
Discount received	2,500	Capital	52,000
Machinery	52,000	Cash at Bank	6,400
Creditors	8,000

13.

From the following information, prepare trading and profit and loss account of Abdul Rahuman for the year ending 31st December 2016 and balance sheet as on that date. The closing stock on 31st December 2016 was valued at Rs. 2,000.

Particulars	Rs	Particulars	Rs
Opening stock	500	Purchases	1,300
Sales	5,000	Wages	700
Discount received	500	Salary	500
Building	50,000	Capital	50,000
Cash in hand	4,500

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Answers Key:

Generic 3

5 x 3 = 15

Balance sheet of Mr. Moorthy as on 31.12.2013
Liabilities	Rs.	Rs.	Assets	Rs.
Creditors		4,200	Cash in hand	360
General reserve		1,000	Cash at bank	7,200
Capital	40,000		Debtors	6,400
Add: Net Profit	1,6600		Closing stock	14,800
	41,660		Furniture	3,700
Less: Drawings	4,400	3,7,260	Plant	10,000

		42,460		42,460

Dr. Profit and loss account of Mrs. Nalini for the year ending 31.12.2010 Cr.
Particulars	Rs.	Particulars	Rs.
To Salaries	15,000	By Gross profit	1,25,000
To Rent	5,000	By Income from investments	1,500
To Carriage outwards	1,000	By Discount received	1,000
To Selling expenses	500	By Interest received	700
To Discount paid	600	By Commission earned	2,000
To interest paid	500
To Net profit	1,07,600
(Transferred to P&LAlc)
	1,30,200		1,30,200

Balance as on 31st December 2017
Liabilities	Rs.	Rs.	Assets	Rs.
Capital	80,000		Debtors	12,800
Add: Net profit	4,800		Cash in hand	20,000
	84,800		Plant	43,200
Less: Drawings	8,800	76,000
		76,000		76,000

Dr. Profit and Loss Account for the year ended 31st March, 2018 Cr.
Particulars	Rs	Particulars	Rs
To Carriage outward	25,500	By Gross profit b/d	1,50,000
To Office rent	7,000	By Dividend received	9,000
To Office stationery	3,500	By Discount received	4,600
To Distribution expenses	2,000	By Rent received	7,000
To Advertisement expenses	3,800
To Bad debts	8,500
To Net profit transferred to capital account	1,20,300
	1,70,600		1,70,600

In the books of M/s. Lavanya and sons
Dr. Trading account for the year ended 31st March, 2017 Cr.
Particulars	Rs	Rs	Particulars	Rs	Rs
To Opening stock		16,500	By Sales	72,000
To Purchases	45,000		Less: Sales returns	1,500	70,500
Less: Purchases returns	500	44,500	By Closing stock		18,000
To Carriage inwards		1,200
To Wages		4,800
To Fuel and power		3,200
To Gross profit c/d		18,300
		88,500			88,500

Generic 2

5 x 2 = 10

Dr. Trading account of Mr. Velu Cr.
Particulars	Rs.	Particulars	Rs.
To Opening stock	500	By Sales	3,600
To Purchases	2,500	By Closing stock	300
To Gross Profit c/d	900
(Transferred to Profit and loss A/c)
	3,900		3,900

Dr. In the Books of Mr. Saravanan Trading account for the year ended 31.12.2017 Cr.
Particulars	Rs.	Particulars	Rs.
To Opening stock	1,50,000	By Net sales during the year	4,00,000
To Direct expenses	8,000	By Closing stock	25,000
To Net purchases	1,50,000
To Gross profit c/d	1,17,000
	4,25,000		4,25,000

Dr. Trading Account Cr.
Particulars	Rs.	Particulars	Rs.
To Opening stock	1,500	By Sales	4,600
To Purchases	3,500	By Closing stock	1,300
To Gross Profit c/d	900
	5,900		5,900

i) Direct expenses:
(a) Carriage inwards or Freight inwards
(b) Wages
ii) Direct expenses :
(a) Office expenses.
(b) Administration expenses
(c) Selling expenses

10.

Cost of goods sold = Opening stock + Net purchases + Direct expenses – Closing stock
= 8,000 + 60,000 + 5,000 – 9,000
= Rs. 64,000
Note: Indirect expenses do not form part of cost of goods sold.

Generic 5

3 x 5 = 15

11.

Dr. In the Books of Deri Trading and Prout and loss account for the year ended 31.03.2018 Cr.
Particulars	Rs.	Particulars	Rs.
To Opening stock	10,000	By Sales	1,22,500
To Purchases	95,000	By Closing Stock	8,000
To Freight inwards	750	By Gross loss c/d	2,750
To Wages	27,500
	1,33,250		1,33,250
To Gross loss b/d	2,750	By Net loss c/d	6,250
To Postage	150	(Transferred to capital a/c)
To Rent paid	2,500
To Sundry expenses	850
	6,250		6,250

Balance Sheet
Liabilities	Rs.	Rs.	Assets	Rs.
Capital	1,00,000		Cash	2,500
Less: Net loss	6,250		Bank	5,000
	93,750		Machinery	50,000
Less: Drawings	4,500	89,250	Debtors	13,500
Creditors		5,000	Furniture	17,250
Bills payable		2,000	Closing stock	8,000
		96,250		96,250

12.

Dr. In the Books of Ramasundari Trading and Profit and Loss account for the year ended 31.12.2017 Cr.
Particulars	Rs.	Particulars	Rs.
To Opening stock	2,500	By Sales	7,000
To Wages	2,700	By Closing stock	4,000
To Purchases	3,300
To Gross profit c/d	2,500
	11,000		11,000
To Salary	2,600	By Gross-profit b/d	2,500
To Net profit c/d	2,400	By Dividend received	2,500
(Transferred to Capital accounts)
	5,000		5,000

Balance as on 31st December 2017
Liabilities	Rs.	Rs.	Assets	Rs.
Capital	52,000		Machinery	52,000
Add: Net profit	2,400	54,400	Cash at bank	6,400
Creditors		8,000	Closing stock	4,000
		62,400		62,400

13.

In the books of Abdul Rahuman Trading Profit and Loss Account
Particulars	Rs	Particulars	Rs
To Opening stock	500	By Sales	5,000
To Purchases	1,300	By Closing stock	2,000
To Wages	700
To Gross profit c/d	4,500
	7,000		7,000
To Salary	500	By Gross profit b/d	4,500
To Net profit (transferred to capital account)	4,500	By Discount received	500
	5,000		5,000