11 Com Pre-Exam

Class: XI-COM UJJWAL ACADEMY Time: 3 hr
Sub: BK Marks: 80
Q.1 A) select the most appropriate alternatives from those given below and rewrite the
statements (5)
1. Debit what comes in, credit what ______
a. Giver b. Expenses and losses c. Goes out
2. Interest on drawing is credited to ______ account.
a. Trading b. Profit and loss c. Capital
3. Closing stock is always valued at cost or market price which is _____
a. More b. Less c. Zero
4. ‘c/d' indicates_____ balance
a. Opening b. Closing c. Positive
5. Every transaction has __________ effect.
a. One b. Two c. Three
Q.1 B) state whether the following statements are 'True or False (5)
1. Journal is a book of Prime entry
2. Credit balance of Profit & Loss account shows net profit.
3. Bank loan account is a Nominal account.
4. Goods lost by theft is debited to goods account.
5. Every debit has equal and corresponding credit.
Q.1C) Write one word/term or phrase which can substitute the following statement. (5)
1. Method of Accounting which records both aspects of the transaction.
2. A continuous, gradual and permanent reduction in the value of a fixed asset.
3. Recording of business transactions
4. Amount invested in business by the proprietor.
5. A System of accounting which is unscientific
Q.1 D) Answer in one sentence only. (5)
1. Which type of accounts are maintained under Single Entry System?
2. What do you mean by Profit & Loss A/c?
3. What is meant by Goods?
4. Which account is debited, when rent paid by debit Card ?
5. Which accounts is credited, when goods are sold on credit ?
Q.2 A] Give the accounting equation for the following transactions: (5)
1. Mr swaraj commenced business with bank balance of ₹ 1,10,000.

2. Purchased Furniture on credit from S.M furniture mart ₹ 25,000.
3. Bought goods on credit from Yuvraj ₹ 15000.
4. Purchased Machinery ₹ 10,000.
5. Paid electricity bill ₹ 3,500.
Q.3] Mr. Raj keeps his book on Single Entry System From the following
particulars, prepare Opening Statement of Affairs and Closing Statement of
affairs and Statement of Profit or Loss. (8)
Particulars Amt (₹) Amt (₹)

Sundry Debtors 40,000 30,000
Sundry Creditors --_ 32,000
10 % Govt. Bonds 12,000 40,000
Bank Overdraft 30,000 4,000
Furniture 18,000 15,000
Stock 50,000 60,000
Machinery 20,000 40,000
Cash in hand 12,000 60,000
Bills Payable 50,000 10,000
Bills Receivable 22,500 19,000
Additional Information:
1. Mr. Raj has withdrawn 2,000 from the business for his daughter’s marriage
2. He introduced additional capital of 6,000 in the business on 1st Oct. 2018
3. Additions to Machinery were made on 1st Oct. 2018.
4. Bad Debts 2000 and maintain Reserve for Doubtful Debts @ 5% on debtors
5. Stock was overvalued by 20 %
6. Creditors were undervalued by 20%
7. 10% Govt. Bonds were purchased on 1st Oct. 2018.
8. Charge interest on Drawings at 10% p.a.
9. Allow interest on Capital at 10% p.a.
10. Depreciation on Furniture 10% p.a.
11. Depreciation on Machinery at 10 % p.a.
Q.4] In Journalise the following transactions in the books of Harbhajan & Co. for the math
of 1st April 2019. Balance on 1st April 2019 (10)
Cash in hand 35,000, Cash at Bank 25,000, Furniture 1,50,000, Laptop 1,00,000, Debtors:
Sangita 40,000, Viru 30,000
Creditors: Ganesh 10,000, Garima 40,000, Bank loan, 50,000 April

1 Purchased goods from Ajay kumar worth 2,50,000 at 10% Trade discount @18%
GST
and paid 1/4 amount in Cash.
5 Purchased shares of Infoysis Company 50,000 and 500 paid as brokerage by
DematA/c.
8 Sold goods to Raj worth 90,000 at 10% Trade discount and 1/3 amount received by
cash and 5% cash discount is allowed
12 Paid house rent of proprietor 29,000 and office rent 75,000.
15 Purchased Laptop of 60,000 @ 18% GST and paid amount by cheque.
20 Paid transport charges on the above Laptop & 1,000 @ 18% GST.
25 Paid Commission 20,000 to Ram
26 Paid Telephone Charges 1,000,
28 Transferred from private Bank A/c of proprietor to business Bank A/c 40,000.
30 Bought goods for 1,50,000 @ 12% as GST by cheque.
30 Exchanged our Furniture of 30,000 against a Motor car of the same
value for business.
Q.5] The following balances appeared in the ledger of Karan on 1st January 2019. (10)
Debit balances Amount (Rs) Credit Balances Amount Amount (Rs)
Cash Account 60,000 Karan's Capital A/.c 2,00,000

Purchases Account 80,000 Sales A/c 40,000
Bank of Maharashtra A/c 1,00,000
January
5 Bought goods from Rushi 10,000.
10 Drew from Bank 20,000 for office and 6,000 for self use.
17 Return goods to Rushi 2,000.
19 Cash Purchases 14,000.
22 Cash Sales 20,000.
26 Deposited into Bank 16,000.
28 Interest collected by Bank 7,000 on our behalf.
Pass Journal Entries, prepare necessary Ledger Accounts as on 31st January 2019
Q.6.] Enter the following transactions in cash book with cash and bank columns of
Mehta Brothers. Oct 2019 (7)
1 Cash in hand 13,000 and Bank balance 24,000
3 Cash sales 80,000 at 10% Trade discount.
5 Cash purchases 60,000 at 10% T.D. and 5% C.D. half the amount was paid in cash and
remaining by cheque.
7 Deposited cash in to bank 40,000
9 Received bearer cheque from Sumit 9,500
13 Sold goods for cash 12,000 at 4% T.D.
18 Cheque received on 9th Oct. 2019 deposited into bank.
22 Received crossed cheque from Prabhakar 6,000
27 Introduced additional capital 25,000 and deposited the same into Bank A/c
28 Paid Electricity bill 3,000 and Telephone bill 4,100
Q.7 ] (8)
On 1st Jan 2017 ‘Sanu industries Kanpur, purchased a Machine costing
1,65,000 and spent 15,000 for its installation charges. The estimated life of the
Machine is to be 10 years and the scrap value at the end of its life would be
30,000. On 1st Oct 2018 the entire Machine was sold for 1,50,000.
Show Machinery Account, Depreciation Account for the years 2016-17, 2017-18
and 2018-19, assuming that the accounts are closed on 31st March every year
Q.8] Following is a Trail Balance of Sony Enterprises, You are required to
prepare Trading Account and Profit & Loss Account for the year ended 31st
March, 2019 and Balance Sheet as on that date (12)
Trial Balance as on 31st March, 2019
Particulars Debit Amt (Rs) Credit Amt (Rs)

Debtors 53,000
Opening Stock 9,000
Purchases 25,000
Fuel and Power 2,000
Creditors 43,000
Carriage Outwards 1,500
Drawings 5,000
Capital 1,60,000
Sales 39,500
Returns 1,000 1,500
Cash at Bank 16,000
Furniture (Purchased on 1/7/2018) 40,000
Salaries 7,000
Motor car 20,500
Wages 7,000
General Expenses 7,500
8% Loan (taken on 1/10/2018) 15,000
Bad debts 2,000
R.D.D. 1,000
Bills Payable 7,000
Machinery 41,000
Insurance 5,000
Commission Received 1,500
Investment 26,000
2,68,500 2,68,500
Adjustments :
1) Stock on hand 31st March 2019, amounted to 28,000 and Market value is 29,000
2) Write off 1,500 as Bad debts and create a Provision for doubtful debts @ 5% on Debtor.
3) Depreciation on Furniture, Motor car, and Machinery @ 10%, 7% and 5% respectively.
4) Commission 500 is due but not received.
5) Outstanding Expenses General Expenses 1,000 and Wages 500.
6) Prepaid expenses Insurance 2,000

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Class: XI-COM UJJWAL ACADEMY Time: 3 hr

1. Mr swaraj commenced business with bank balance of ₹ 1,10,000.

Particulars Amt (₹) Amt (₹)

Creditors: Ganesh 10,000, Garima 40,000, Bank loan, 50,000 April

Debit balances Amount (Rs) Credit Balances Amount Amount (Rs)

Cash Account 60,000 Karan's Capital A/.c 2,00,000

Particulars Debit Amt (Rs) Credit Amt (Rs)

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