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CBSE Important Questions

CBSE Guess > Papers > Important Questions > Class XI > 2010 > Accountancy > Accountancy By Mr. Gurcharan Singh

CBSE CLASS XI

Q. 1. Explain the meaning of the following terms with example:

  1. Goods;
  2. Expenses.

Q. 2. Show the accounting equation on the basis of the following transactions & Prepare Balance Sheet:

  1. Sohan started business with cash Rs.40,000, goods Rs.20,000, furniture
    Rs.1,000 & Creditors of Rs. 6,000.
  2. Sold goods to Vikram costing Rs.4,000 @ 10% above cost.
  3. Purchase Building Worth Rs. 1,00,000 by taking Bank Loan.
  4. Bought Good Worth Rs. 5,000 from Ram and Received Cash Discount @ 5%.
  5. Purchase Goods from Raju worth Rs. 10,000.
  6. Rent due to landlord for current month.
  7. Advance Salary paid to Mohan an Employee Rs. 2,000.
  8. Returned goods of Rs.2,000 purchased from Raju.

Q. 3. Give Journal entries in the books of Ram Dayal Furniture: 2009

Jan 1. Received Rs. 5,000 from B/R of Mahesh Chand.

Jan2. Bought machinery Worth Rs. 9,800 & Paid cartage on it Rs. 200 & Paid wages Rs. 2,000 for the Installation of Machinery.

Jan 3. Bought Furniture from Shruti & Co. List Price Rs. 20,000 & Received TradeDiscount @ 10%. Half the Payment made at the time of Purchase & receivedCash Discount for the prompt payment @ 5%.

Jan 5. Furniture worth Rs. 2,000 transfer to Ram Dayal’s House for the Decoration.

Jan 8. Paid Rent Rs. 3,000 to Landlord up March 2009.

Jan 12. Sold to Surender Furniture Costing Rs. 8,000 at profit of 20% on Sale; andalso allowed him trade Discount of 10%.

Jan 23. Paid Outstanding Salaries for the December, 2008; Rs. 12,000.

Jan 29. Received Compensation from Ramu 70 paise in Rupee One from his total Debtof Rs. 2,300, on the Event of his insolvency.

Q. 4. Following are the transaction of Amar Ltd post them into the `T Shape’ ledger of Rakesh. (4)2009

Feb 1 Rakesh purchased goods of Rs.5000

Feb 3 Rakesh sold goods of Rs.30000 to Amar

Feb 8 Rakesh paid cash of Rs.2000

Feb 10 He returned goods of Rs.2000 purchased by him

Q. 5. Ram Started Business with the Capital of Rs. 2,50,000. During he Year 2008-09 he withdrews for his Capital of Rs. 5,0000. His Assets & Liabilities are Rs. 5,00,000 & Rs. 2,25,000 respectively as 31st March 2009. Find out profit earned or Loss incurred by him during the financial year 2008-09

Paper By Mr. Gurcharan Singh
Email Id : [email protected]