Mid Term Accounts - Subjective

MID TERM- 2021-22
ACCOUNTANCY(055): CLASS11
Max marks: 40 Time: (90 min)
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General Instructions:
1. This question paper contains 8 questions

2. Marks are indicated against each question.
3. Question 1 carry 2 marks each.
4. Question 2 carries 3 marks.
5. Question 3 and 4 are questions carrying 4 mark each.
6. Question 5 carries 5 marks
7. Question 6 carries 6 marks .
8. Question 7 and 8 carries 8 marks .
9. Attempt all questions.
1. Pass Opening Journal entry for the below: [2]
Cash in hand Rs. 8,500

Cash at Bank Rs.35,000
Plant & Machinery Rs. 1,10,000
Stock Rs.37,000
Debtors Rs. 43,000
Creditors Rs.32,000
OR
Explain what do you mean by Secret Reserve and give two ways of creating it.
2. Prepare Trial Balance from the following information: [3]
Bank overdraft Rs. 28,000, Cash in hand Rs. 4,000, Purchase return Rs. 8,000, Sundry expenses Rs.
24,000, Sales return Rs. 16,000, Salaries Rs. 16,000, Purchases Rs. 56,000, Sales Rs. 88,000,
Creditors Rs. 24,000, Debtors Rs. 16,000, Stock (opening) Rs. 20,000, Machinery Rs. 40,000, Capital
Rs. 44,000.
3. From the Bank account below , answer the questions that follow: [4]
a) Will Bank a/c be shown as an asset or liability? Why?
b) Write down the journal entry for Jan 10 and Jan 26.
c) What are the entries in (b) called?
d) Give the narration/explanation of the entry in Jan 26.
4. [4]
Out of the goods sold to Mahesh on 3rd March, 10% goods are returned by him on 6th March.
1) Write transactions for the postings dated 6th March and 25th March.
2) Write down the Journal Entries for the postings dated 22nd March and 31st March.
3) Is Mahesh Debtor or Creditor on 31st March?
5. Pass journal Entries: [5]
1. Purchased Machinery from Ramesh worth Rs. 40,000 and furniture worth Rs 25,000. Gave him
cash Rs.25,000,cheque of Rs 20,000 and accepted a bills Payable for the balance.
2. Rent paid `6,000, half of premises used by owner for his personal use.
3. Ram became insolvent and a final dividend of 50 paisa in a rupee was received for a debt of
`1,000
4. Bank sent an intimation of dividend on securities credited Rs. 200 .
5. Loan taken for car for office use Rs 30,000.
6. Charge interest on drawings Rs. 400 .
7. Proprietor withdrew Rs. 10,000 from Bank ,half of which is for payment of life insurance
premium.
8. Total rent paid Rs. 2600 @ 200 per month.
9. Purchased goods of list price Rs. 10,000 at 10% T.D. and 2% C.D. from Mr. X. Paid 60% amount
immediately.
10. Returned Goods of list price Rs.500 to Mr. X.
6. Prepare Cash Book with cash and bank Columns. [6]
2020 Rs.
June 1 Cash in hand 800
Bank Overdraft 5700
June 7 Received from Bharti 3250
June 9 Deposit above cheque into bank ------
June 12 Paid to Bhavna by Cheque 2425
June 15 Bharti’s cheque returned - dishonoured -----
June 20 Withdrew from bank for office use 250
June 25 Cheque received from Panna Lal and endorsed it in 1200

favour of Kamal on 28th June
June 30 Income Tax paid by cheque 150
June 30 Bank Charges 25
7. On 31st March, 2018, the bank column of the cash book of Mr. Dinesh disclosed an overdraft balance [8]
of Rs 16,600. On examining the cash book and bank statement, you find that:
(i) Cheques were deposited into bank for Rs 32,000 but of these Cheques for Rs 9,200 were collected
and credited in April.
(ii) Cheques were issued for Rs 15,000, out of which cheques for Rs 12,000 had been presented for
payment in march.
(iii) In March, Mr. Dinesh had discounted with a bill of exchange for Rs 20,000 at a discount of Rs
800 but Rs 20,000 were entered in the cash book.
(iv) No entry is made in the cash book of an amount of Rs 12,200 directly deposited by a customer
in the bank.
(v) Payment of insurance premium of Rs 4,000 and receipt of insurance claim of Rs 16,000 appear in
the pass book but not entered in the cash book.
(vi) A cheque of Rs 7,000 issued to Mrs. Anju was omitted to be recorded in the book.
(vii) Bank column of the payment side of the cash book was undercost by Rs 2,000.
(viii) A cheque of Rs 5,600 issued to Mr. Ashu was entered in the cash column of the cash book.
Prepare a Bank Reconciliation Statement as on 31 Ist March, 2018.

8. Enter the following transactions in the books of Vijay in Purchase Book, Sales Book, [8]
Purchase Returns Book and Sales Returns Book and Journal Proper for the month
of August 2018.
2018 Aug.
01 Purchased goods from Vikas Stores ` 18,000 at 5% Trade Discount for cash.
02 Sold goods of ` 9,000 to Prabhakar Traders.
05 Veena sold goods of ` 16,000 to us at 5% Trade Discount as per our order dated 28th July,2018.
08 Sent a Debit Note to Vikas Stores ` 1,600 (Gross) for goods returned.
10 Sold goods of ` 12,000 on credit to Shamal & Sons at 6% Trade Discount.
18 Received Credit Note from Veena ` 900 (Gross) for goods returned.
22 Sent Credit Note to Prabhakar Traders for ` 1,500 for goods returned. Received credit
note from Shamal & Sons for ` 1,200 (Net) for goods returned.
23 Purchased goods of ` 16,600 from Priya Stores .
25 Purchased goods from Sadhana Stores ` 12,000 and sold the same to Aradhana Stores at
a profit of 20% on cost.
28 Aradhana Stores returned goods of ` 2,400 as they were defective and the same were
returned to Sadhana Stores.
31. Purchased Furniture for office use ` 30,000 from Art Furniture Works on credit.

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MID TERM- 2021-22

1. This question paper contains 8 questions

1. Pass Opening Journal entry for the below: [2]

Cash in hand Rs. 8,500

2. Prepare Trial Balance from the following information: [3]

c) What are the entries in (b) called?

d) Give the narration/explanation of the entry in Jan 26.

5. Pass journal Entries: [5]

June 1 Cash in hand 800

Bank Overdraft 5700

June 7 Received from Bharti 3250

June 9 Deposit above cheque into bank ------

June 12 Paid to Bhavna by Cheque 2425

June 15 Bharti’s cheque returned - dishonoured -----

June 20 Withdrew from bank for office use 250

June 25 Cheque received from Panna Lal and endorsed it in 1200

June 30 Income Tax paid by cheque 150

June 30 Bank Charges 25

Prepare a Bank Reconciliation Statement as on 31 Ist March, 2018.

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