Sw BHATNAGAR we Matt PASCHIM VIHAR orth ses 2024 anal TERM ANAMINATION ror 12 ACCOUNTANcy(o55) SETA : hours rime MM- 80 marks GENERAL INSTRUCTIONS: 1. This question paper contains 34 questions, All questions 27€ compulsory, 2. Question Nos. to 20 carries 1 mark each, | 3. Questions Nos. 21 to 26 carries 3 marks each. 4, Questions Nos. 27 to 29 carries 4 marks each 5. Questions Nos. from 30 to 34 carries 6 marks each __6. There is no overall choice. However, an intern of accounting 1 | which of the following is not an object 1B: (2) To ascertain Profit OF LOS ness 2 ) The amount which Is paid for Increasing profit earning capaci of business is called ~ (8) Deferred Revenue Expenditure ¢ (A) Revenue Expensiture (C) Capital Expenditure (D) Either (A) or (B) fa vs he withdrawal of cash and £0005 BY the cyner from business for his/her personal use. {Depreciation (8) Drawings (©) Outflow of cash (0) Appreciation @ Sold goods costing %12,000 at. gyrofit of 20% on sales the effect on accounting equation will be:- .(A) increase in cash £14,400 snereass in stock 12,000 and increase in capital €2,400 {@) Increase in cash $15,000 decrease in stock €12,000 and increase in capital 83,000 (C) increase in cash £12,000, decrease in stock €14,400 and increas in capital €2,400 (0) increase in cash ¥14,000 decrease in stock 812,000 and inerease in capital 2,000 J Nature account balances transfer into Trading, Profit & Loss a/c. 5 _ | Assertion: Only Nominal venses and Accrued Income hence transfer into Reason: Nominal Nature accounts include both Outstanding Exp ‘Trading, Profit & Loss account. Choose the correct option from following statement on basis of above Assertion (A) and Reason (R) (A) Both (A) and (R) correct and (R) is the perfect explanation of (A) (8) Both (A) and (R) correct individually but (R) is not a perfect explanation of (A) (C) (A) is correct but (R) is incorrecty {0) (A) is incorrect but (R) is correct Assertion: Sales account always Credited. Reason: Sales is a Revenue Nature account and whenever Rev Choose the correct option from following statement on basis of (A) Both (A) and (R) correct and (R} is the perfect explanation of (ay (B) Both (A) and (R) correct individually but (A) is not a perfect explanation of (A) (0) (A)is correct but (R) is incorrect (0) (A) is incorrect but (R) is correct enue increase its Credited above Assertion (A) and Reason (R) but can be treated a8 a .....«.u0f account, (C) Subsidiary Book, Principal Book ~ (0) Principal Book, Principal Book © Cash book is a type of .. (A) Prinéipal Book, Subsidiary Book (8) Subsidiary Book, Subsidiary Book IF seller receives back the goods sold i.e. in case of sales return, which of the following is prepared: (a) Credit Note (8) Debit Note" (C) Both (A) and (8) (0) None of these | 9 | Define Vouchers. Pesta.e. Thereafter, 430 | Assertion (A): Journal is @ book of Final entry. and when they take plac Aeon (Alte transactions are recorded tf a nth edb 6 entries are transferred from Ledger to Journal. ae ect? are canen ofthe above statements, WHiCh ON ofthe oy isco (A) Both (A) and (R) ar@ correct and (R) is the correct reason of (4) {e) Both (A) and (R) are correct but (R) i not the correct reason i (C) Only (R) is correct Fs re WFONE : (0) Both (A) and (R) are Wron aa su be made tothe! 11. | Received Rs.17,800 from Mahima in full settlement of Rs.18,000, ypeblt “side of Mahima’s Re |_| (A) Debit side of Discount A/ch {py creat ‘side of Discount - (C) Credit Side of Mahima’s A/c i | purchase 800K will be: 22. | Atrader entered into following transactions. AS @ result, otal of 1A) Goods purchased from Saurav Rs.8,000 (8) Goods purchased from Randhir for Cash Rs.10,000 (C) Goods purchased from Jamal on credit Rs,25,000 (0) Machinery purchased from Vinesh on credit RS-40,000 (A) Rs.33,000 (B) Rs.83,000 |_| (C)Rs.73,000« (0) Rs.25,000 7 si ‘s@st paid &) Bricks and Cement worth %1,20,000 purchased for construction of cycle shed in 2 building. CGST & : @6x cach, Which ofthe following Journal entries would correcty record this: 0 (A) Dr. Material A/c €1,20,000, Input CGST 27,200 & Input SGST 87,200; Cr. Cash Alc 81,3440 (8) Dr Machinery A/c %1,20,000, Input CGST 7,200 & input ‘S6ST 97,200; cr. cash A/c %, 34s i (C) Dr. Building A/c *2,20,000, Input CGST °—7,200 & Input SGST 37,200; Cr. Cash A/C 1,34,400 1 (D)None of these ‘ 14 | Fillin the following assuming GST rate is 12%: 1 Purchases A/c... Input IGST A/c..Dr. 30,000 To Shyam A/ \ u ‘Being goods purchased from Shyam) - a) eel ‘shyam €90,000 (8) Purchases 2,50,000, Shyam 2,80,000F (C) Purchases %2,80,000, Shyam %3,10,000 (D) None of these (s Bank Reconciliation Statement s prepared BY: 1 (A) Bank (8) Customer's Accountant (C) Auditors (D) Any one of these 16 | Objective of Trial Balance is to: 1 (A) Locate errors (8) Check Accuracy of ledger (C)Both a & by (0) None of the above 17 | profit on sale of fixed assets is used to create : 1 (A) Capital Reserve! (B) SpecificReserve (c)General Reserve (0) All of these Te | Amachine costing Rs-20,000is depreciated @10% p.. using written down value method, amount of 1 depreciation of third year will be (A) Rs.1,620” (8) Rs.1,600 (C)Rs.1,700 (0) Rs.1,760 ) ; or account appears in the Trial Balance because of ;- i a pa oo (8) Two sided error : canal (0) Error of omission « 20 Hike, sheet is prepared )For a partic i particular period fabian o pardealar date 1 (C) For the whole year (D) None of the aboveferent = Users of accounting informatiON ang yhai, informational nee? * | formation 3 and explain Or _ystand explain the qualtatve characteristics of ACU iformaton 22} pistingut oe \gulsh between Cash basis and Accrual basis of ACcounting. Re peadymade Garmentsinits | 3 ecord , the following transactions of M/s, Kishor® & Sons, Delh! sellin Sales Book: 2023 Jan 1. Sold to M/s. Gupta & Verma, Delhi: oe 30 shirts @ Rs.400 each 20 trousers @ Rs.600 each Less: Trade Discount @ 10% a | for B® pelhi fo" 00 each Jan 12. Sold old furniture to M/s. Sehg=! & Co» Jan 18, Sold 50 shirts to M/s. Jain & Sons, Kanpur Jan 24, Sold to M/s. Mathur & Jain, Kolkata: 400 shirts @ Rs.400 each @ Rs.1,000 each ¢ racted from the books of 4 (a) Started business with cash $6 y, From the following balances extr [___Particular__——y |__Rs— ‘Opening stock [3,600 | ‘Wages and salaries D 3,200 “commission on purchases: [___ 200 | Debtors. Freight * 300 | income tax # Purchase less returns 11,850 | Drawings# Sales less returns (» 24,900 | Capital 5,000 Trade expenses J 20 | ails pavable ‘500 Bills receivable 600 | Loan 900 Rent & 200 | Discount on purchases & 400 Plant & 72,000 | creditors ba 2330 Bad debts 9 -[ 500 | 34030 Define Reserves. State any three benefits of creating Reserves. i; or {refine Provisions. Mention three main importance of creating a provision? K€ | prepare Trading account form the follow particulars for the year ended 31 March, 2023. Particulars @) Particulars «) Stock on 1st April, 2022 2,50,000 ‘Wages 2,06,000 Return Outwards 22,000 Carriage inward 34,000 Purchases 7,00,000 Factory lighting 96,000 Return Inwards 36,000 Carriage: ‘outward, 20,000 Sales 18,00,000 Office lighting 5,000 Gas, Fuel and Power 75,000 Manufacturing expenses 2,48,000 ‘Closing stock is valued at § 6,00,000. 43 64000 7a | show the accounting equation on the basis ofthe following transactions: (0,000 and Goods $3,00,000 and creditors 80,000 din Cash. fourth payment receive {8) Goods costing = 48,000 soldat a profit of 28% Three {cy Goods costing ¥20,00 sold ata loss of 5% ou of which 12,000 received in Cash (0) Patd rent 4,000 including €3500 as advance ye a / I a) (pf Pesanry, Prepare Two Col umn Cash Book f January or the folowing tansy, : 2023 ns \s 01 Started business with cash Rs. 05 Deposited into bank 30,000 . Cheque received from Subash 5,000 . Tr Benne cheque deposited into bank 30m a ight goods tt 20 Rent received neh heave 2000 “we Z 24 Cash drawn for personal use aa Prepare Bank i : . (Balance as ‘Recondition Statement as on atet March, 2022 from the following transactions: 4 ass Book (Dr Y a i) On 28th March, 2022 cheque: RS. 12,000 as on aust March, we yes of $0,000 only had been debited upto 3ist March, 2022 Sue 70000 OF which chea! ) Cheques of Rs 35,000 had been denosi eques of Rs 3,000 i 255 Book. (v) The bank had charged Re S00 ss ine bee «mation of which was received on 2nd April, 2022. 47906 4. 2 interest on overdraft and the intimation 30 | Answer the following ce a. Deepak had been charging the depreciation onthe fied asets of his business by FeduchE ee to method for two consecutive years but in the current year he changed the method to stra! ee rreduce the tax liability. Identify the accopnting concept violated by ‘Deepak and give any one a effect of such condition. bs Eleticty Bil forthe month of March 2021 isnot pad, ett wil be recorded inthe books inthe books. o Identify and explain the accounting ccitcet being followed here. an c. Cassication of Ieblies into Current Lables and Nor-current liabilities is based on which accounding concept. Give one more example of the identified concept. 31. | Journalize the following transactions of M/s Gupta & Sons of Delhi 19 and Goods € 10,000 ; ’ “10% above cost less 5% trade discount. Half of 1d goods costing 10,000 to Mohan Kolkata issued invoice at ich is received by cheque. 000 $50 Paid wages in cash for installation of machinery & 2,000 sees d. Rent due to landlord € 5,000 Oo ce, Depreciation on machinery ® 500 £. Goods stolen (cost price & 5,000) Sale Price °,000 SUS Started business with Machinery $10,000; Cash & 500 or Jouranlise the following transactions in the books of Harpreet Bros.: {2} Rs.1,000 due from Rohit are now bad debts. (b) Goods worth Rs.2,000 were used by the proprietor. () Charge depreciation @ 10% p.a for two month on machine costing Rs-30,000. {a) Provide interest on capital of Rs. 150,000 at 6% pia. for 9 months. (e) Rahul become insolvent, who owed is Rs. 2,000 a final dividend of 60 paise in a rupee is received from his a estate. 32 120 for 90,000. On Ist October, 2021 it purchased another machine for $40,000.0n 30th June, 2022 it sold off the first machine purchased in 2020 for $58,000 and on the ‘ame date purchased a new machinery for €1,00,000.Depreciation is provided at 20% p.a. on the original cost teach year Accounts are closed each year on 31st March, Show the Machinery Account for three years, | op The following balances appeared in the books of Ambani Limited as on 1 st April 2023: Dinesh Mills purchased machinery on 1st August 207 Machinery account & 10,00,000 Provision for depreciation account % 4,50,000 The machinery was depreciated at 10% per annum on original cost method. On 1st October2023, a machine which was purchased on ist December 2020 for °1,20,000 was sold for =34,000, inery account and provision for depreciation account for the year 2023-24 Prepare mac Serre b 0, 969 yo ~S Wy aso XESS so # 3~ 43 [ 9) Rectity the following (a) Wages pai wing errors: Paid fort (b) The sale boo ys constrUction of ofCe dertag to wages account 8520.000 r 30 000. . (d) Sale of old fn ) What are compens; ture Rs.5,000 was treated as sales of goods: 34 | Yo ating errors? ware require to 1 pre ren balance sheet on thar ae nant he art and lass af che year ended 31st March 2023 and a 6 Debit credit] 50,000) Name of accounts [Capital 5 rawings 6S 16,000] 4 febtors and creditors Ta : _ [Bank loan 6 10,000 root tt@C0 Then _ no ron exteos PEE — 008 Wages 1 a ites Koccensazoes of > - Computer DS a i _ ZZ Bank, % __ Furniture 6S carriage outward fC ffeariage inward F J salaries LL ent PEL Afipaddents 466 _ Spfireases and sales 1 _———- qe ca Horse lrscount_ ve Re _ a —_ zi 8,000] mmission Adfastments: preciate furniture by 5% and computer by 10% ‘Salaries outstanding Rs.1, 200. mis paid for the period ending 30th June 2023, _ pe AA sy if ¢) Insurance premiur ese for Bad debts is to be maintained at 5% on debtors. A ‘3 ae cd ‘tock on 31st March 2023 was valued at Rs.19, 40. -