ITL PUBLIC SCHOOL

PRE - ANNUAL ASSIGNMENT (2024-25)

Date:24.1.25 Class:XI
ACCOUNTANCY(055)
Time:3hr M. M: 80
General Instructions:
 All questions are compulsory.
 Marks for each question are indicated against it.
 Attempt all parts of a question together.

Read the following text and answer question no 1 to question no. 2 :

1. Following is the balance sheet of Ram Traders as on 31 March 2021

Liabilities Amt Assets Amt

Capital 4,20,000 4,67,000 Land and Building 2,50,000
+ net profit 47,000
Long term Loan 1,10,000 Plant and Machinery 1,10,000
Creditors 2,06,000 Furniture and Fittings 60,000
Commission received in 8,000 Stock 2,20,000
advance
Bank Overdraft 14,000 Sundry Debtors 1,80,000
Outstanding interest on loan 15,000
8,20,000 8,20,000
1 Calculate the value of Working Capital from the above information. 1
CA – CL 400,000 – 243000= 157000

2 Is the balance sheet prepared in order of liquidity or permanence ? PERMANENCE 1

NCA ; CAPITAL THEN NCL
LIQUIDITY – CA ; CL THEN NCL THEN CAPITAL
3 Sunila gets a definite sum every month from the organisation for meeting small expenses. It’s balance is 1
found at the end of each month to restart for next month.
The amount to be paid to Sunila at the beginning of every month is known as _____IMPRESET ____ amount
A DEFINITE sum of money is given to the petty cashier
Reimbursed – amt spent by him
Thus , at the beg of next period he has the same amt
Eg
4 The following balances appeared in the books of Sanchita on 1/4/2022 1
Cash `30,000 ; Bank `10,000 (cr) ;Stock `80,000 ;Patents `7,200 ; Trade Receivables `48,000; Bank
loan `20,000 ; Trade Payables `25,000
Pass the opening Journal entry

Assets dr
To liab
To cap (b/f)

Cash dr 30,000
Stock dr 80,000
Patents dr 7200
Trade recd dr 48000
To bank a/c 10,000
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 To bank loan 20,000
To trade pay 25,000
To cap 110,200

5 Ganesh purchased Furniture of ₹40,000 from Modern Furnishers on Credit. Name the subsidiary book in 1
which recording will be done. Give reason for the same.
Journal proper
If ganesh was a fur dealer – pur book

6 Define secret Reserve . State one ways of creating it . 1

Imp – prov & reserve
Def – prov, reserves, cap reserve , rev reserve , secret res
Diff btw prov n reserve
2 illustration
Secret reserve – how to create / benefits / disadv
7 If Cash= Rs.1000; inventories= Rs.4000 Debtors= Rs.5000; fixed assets=? Capital + Liabilities= Rs.18000. 1
Find out the Amount of fixed assets?
8000
18000-1000-4000-5000
8 Assertion:- Capital expenditure are shown on asset side of the balance sheet TRUE 1
Reasoning:- Capital expenditure helps in maintaining earning capacity of the business - FALSE
Find the correct option:-
(a) Both Assertion and reasoning are true and reasoning is the correct explanation of Assertion
(ii) Both Assertion and reasoning are true and reasoning is the not correct explanation of Assertion
(iii) Assertion is true but Reasoning is false
(iv) Assertion is false but Reasoning is true.
CAP EXP – INCREASES EARNING CAP; BS
REV EXP- MAINTAINS ; T N P/L
9 How bad debts are different from discount? 1
BAD DEBTS – AMT IS IRRECOVERABLE – INSOLVENCY
DISCOUNT – AMT NT RECD – REDUCTION IN THE SP BY THE OWNER
1 Match the following: 1
0 1. Net Profit A. Excess of debit side of P&L over credit side.
2. Gross profit B. Excess of credit side of P&L over Debit side.
3. Net Loss C. Excess of debit side of Trading A/c over credit
side.
4. Gross Loss D. Excess of credit side of Trading A/c over Debit
side.
1 If an asset costing Rs.20,000 is depreciated @10% p.a. SLM , the asset will reach the value of zero in how 1
1 many years ?
10 YEARS
20000/2000=10
1 Fill up 1
2 (a) Amortization referred to writing off ________INTANGIBLE ASSETS_______________
(b) Income tax paid for the proprietor is debited to ____DRAWINGS ___________Account.
DEP – THEORY
DEF :- DEP
OBJECTIVES / BENEFIT OF CAL DEP
DIFF BTW SLM & WDV
QUES ON CAL OF DEP FOR YR – SLM
COST – SCRAP VALUE / NO OF USELIFE LIFE
1 Sejal produced goods worth ₹ 2,50,000. She sold goods worth ₹ 80,000 for ₹ 1,20,000 against which she 1
3 received ₹ 60,000. How much amount will she record to have been received if she maintains her records as
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 per Cash basis accounting system.
60,000
INCOME = 60,000- PUR (CASH)
1 Confidence and trust that the reported information is a reasonable representation of the actual items and 1
4 events that have occurred, depicts which qualitative characteristic of accounting information.
RELIABILTY
REELVANCE
UNDERSTANDABILITY
COMPARIBILTY
CH 1:- DEF OF ACC, OBJ, LT, ADV,ACC CYCLE, USERS ,QUALITITATIVE
CHARACTERISTICS, DOUBLE ENTRY DEF
1 In Accounting equation give an example of- 1
5 a. Increase in Assets and increase in Capital – ACCURED INC ;CAP INTRO, ADD CAP,
b. decrease in Liability and increases in Capital - LOAN GIVEN BY THE OWNER CONVERTED
INTO CAPITAL
1 In the books of D Ltd. the Machinery Account shows a debit balance of Rs. 60,000 as on April 1, 2010 and 1
6 Provision for depreciation account at Rs. 24,000. The machinery was sold on September 30, 2010 for Rs.
30,000. The company charges depreciation @20% p.a. on diminishing balance method. Calculate the
profit/loss on sale of machinery account.
1.4.2010= 60,000
- DEP (24000)
BOOK VALUE ON 1.4.2010= 60,000-24000= 36000
DEP 1.4.2010 TILL 30.9.2010 = 36000 X 20% X 6/12 (6 MONTHS)= 3600
BOOK VALUE ON DATE OF SALE = 36000-3600= 32400
SOLD FOR 30,000
LOSS=2400
1 List the last two steps of accounting cycle . 1
7 COMMUNICATING
ANALYSIS & INTERPRETATION
1 If depreciation is excess charged by Rs.500 and closing stock is undervalued by Rs. 500, how will the net 1
8 profit be affected .
DEP – P/L DR
PFT HAS REDUCED BY 500
CL ST = TRADING CR = PFT +
CL ST UNDERVALUED LEADS FALL IN PFT = 500
1000 IT WILL REDUCE
1 State with reasons whether the following item are Capital or Revenue Expenditure: 1
9 (b) Second-hand Car was purchased for Rs. 175,000.A sum of Rs. 75,000 was spent on its overhauling
CAP
ii) Cost Of Annual Taxes Paid and the Annual Insurance premium paid on the car mentioned above.
REV
2 Fill in the blank 1
0 (i) If the Trading Account discloses _______GROSS LOSS _____, it is shown on the debit side of
Profit and Loss Account
(ii) ₹20,000 paid on wages for installation charges on Machinery was charged to Wages account , is
an example of _______PRINCIPAL________ type of error .
R/E THEORY
FIRST TWO PAGES
TYPES OF ERRORS N EGS – IDENTIFY
2 (a)Besides determining profit or loss and financial position of the business, explain any two other objectives 3
1 of accounting.
(b) “Revenue earned and the cost of earning that revenue should be properly identified”. Explain this
statement with the help of an example. MATCHING PRINCIPLE
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 (c) Why assets are classified as current and non – current assets ?Can they be classified into some other
category besides these? If yes, then explain it. GOING CONCERN NCA- TANGIBLE AND
INTANGIBLE
(d) Besides accounting ignores the qualitative elements , explain any two other limitations of accounting.
2 Calculate Operating profit and net profit from the following information:- 3
2 Particulars Amt Particulars Amt
Gross profit 2,00,000 Rent received 6000
Audit fees 3500 Charity 4,800
Freight on sales 12,000 Business promotion 2400
expenses
Depreciation 5,000 Dividend received 2800
Stationery 18,000 Loss on sale of machinery 35000
Loss by theft 2500 Gain on sale of building 50000
Interest on Long 22,000 Unproductive expenses 3600
term loans
GP – OP EXP = OP PFT
OP PFT – NON OP EXP +NON OP INC
2 Rakesh’s Trial Balance gives the following information: 4
3 Debit (Rs) Credit (Rs)
Debtors 80,000
Bad debts 3,000
Provision for doubtful debts 4,500
Adjustments :-
(a) Additional bad debts amounted to Rs.5,000
(b) Create a Provision for doubtful debts @10%
Pass the journal entries for the above . Also prepare provision for doubtful debts account . How will
you treat the following while preparing Financial statements.
Ans –
BS
Debtors 80,000
(-) B debts (5000)
(-) prov dd (7500) = 67500

Prov dd dr
To bad debts (total= TB+Adj)= 8000

Pnl dr = pnl dr
To prov for dd 11000
Prov
B debts 8000 Bal b/d (old) 4500
Pnl 11000
Bal c/d (new) 7500
2 Prepare Bank Reconciliation Statement as on 31st Jan 2019, from the following particulars:- 4
4 I Balance as per Cash Book (credit) is Rs. 2,00,000. -
Ii The bank credited with the proceeds of a cheque for Rs. 2,020 that it received directly. +
Iii Out of cheques issued for Rs. 19,600 in March, Cheque of Rs. 8,600 only were cashed before Jan 31st
2019. 19600-8600= 11000 ? +
Iv Cheques of Rs. 32,800 were paid into the bank in Jan. Out of them, cheques of Rs. 16,400 were credited in
Feb. and one of Rs. 1,400 was returned dishonoured. 16400 – JAN ? – 1400-
V Bankers had credited the account with Rs. 5,600 for interest collected by them; the same had not been
entered in his cash book. +
Vi A postdated cheque for Rs. 600 has been debited in the bank column of the Cash book but could not
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 have been presented in any case -
2 Following are the Balances in the books of Kaushik Equipments as on 01 April, 2018. 4
5 Machinery Account Rs.20,00,000
Provision for Depreciation Account Rs.4,50,000
On 01 July,2018 a part of Machinery which was purchased on 01 October,2016 for Rs.4,00,000 was
disposed off for Rs.1,70,000. On the same date another Machine was purchased for Rs.10,00,000.
Depreciation is to be charged @10% p.a by Fixed Instalment System.
Prepare Machinery Account and Accumulated Depreciation Account for the year 2018-19

Mach
Bal b/d 20,00,00 Prov for dep 70,000
Bank – 9m 10,00,000 Bank 170000
p/l 400,000- 160000
70,000=330000-170000
Bal c/d 26,00,000
16,00,000+10,00,000

WN:-
16-17= 6 m =20000
17-18= 40,000
1.4.18-1.7.18= 3m = 10,000 = 70,000
Prov for dd
Mach 70,000 Bal b/d 450000
Bal c/d Dep 10,000
Dep 235000
160,000+75000
2 Shyam Das Gupta Keeps his books his books on incomplete records, following is the information 4
6 available

Particulars 1 April 2019(₹) 31st March 2020(₹)

Machinery 2,80,000 3,70,000

Cash at bank 81,600 4,63,000

Stock 1,31,600 3,41,200

Furniture 1,50,000 1,80,000

Building 3,20,000 3,60,000

Creditors 74,000 33,600

Debtors 49,200 1,72,400

10%investment 4,00,000 4,00,000

During the year, he sold his personal investment of ₹10,00,000 and 4/5 part of it invested in the
th

business. He withdrew ₹60,000 in each half year .Calculate Profit after making following adjustments
(i) Provide depreciation on building and furniture at 10% and 20% respectively.
(ii) Create Provision on debtors at 5%
(iii) Rent paid in advance ₹11,600
(iv) Accrued interest on investment for 6 months.

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 (v) Salary due but not paid ₹4,400.

2 Pass the journal entries for the following transactions :- 4

7 (i) Sold goods costing Rs. 20,000 @ 25% pft , less 20% Trade Discount , 5% Cash Discount . IGST
@12% . Recd the half the amt in cash immediately.
(ii) Bought goods from Ram costing Rs. 400,000 less Trade Discount 10% and 3% Cash Discount .
IGST @12%. Paid 25% of the amount immediately in cash .

WN:-
Cost = 20,000+ pft 5000= SP= 25000
(-) TD 20% of 25000= (5000) = 20,000
Cash = 10,000 – CD(5% of 10,000)500= 9500
Igst = 12% of 9500= 1140
Cash recd = 9500+1140=10640

Credit = 10,000 +12% =1200= 11200

Cash a/c dr10640

Disc all dr 500
Debtor a/c dr11200
To Sales 20000
To O/P igst 1140+1200= 2340

(ii)pur = 400,000-10%TD= 360,000

Cash = 25% of 360,000=90,000- CD(3% of 90,000)2700= 87300 +12%=10476=cash paid =97776
Credit 360,000-90,000= 270,000+12% 32400= 302400

Pur a/c dr 360,000

I/P igst dr10476 +32400= 42876
To cash 97776
To disc recd2700
To Ram 302400

OR
Record the following transactions in the Purchase Book of Raymond Cloth House, Delhi
2024
April 03 Bought Cloth from A to Z Ltd. Delhi (Invoice No D334)
200 metre cotton cloth @ ₹ 30 per metre
100 metre woolen cloth @ ₹ 110 per metre
Trade Discount 10%, IGST – 12%
April 10 Bought from Siya Ram, Tank road, Delhi (Invoice No 4560 on credit)
150 metre silk cloth @ ₹ 150 per metre
100 metre cotton cloth @ ₹ 80 per metre
Trade discount 15%,CGST& SGST – 6%
April 18 Bought from Kohinoor Furniture’s, Delhi on credit (Invoice 556)
4 tables @ ₹ 1,000 each
10 chairs @ ₹ 300 each, IGST – 12%
April 25 Purchased from Dior Mills Ltd, Delhi (Invoice No. 2345)
150 metre cotton cloth @ ₹ 50 per metre
100 metre woolen cloth @ ₹ 130 per metre
Trade discount 20%, CGST &SGST – 6%
And Freight charges are ₹ 250 pur amt –TD + freight = net -GST

XI 6 of 12
2 (a) Show the following in Financial Statements 6
8 Trial Balance as on 31.3.21
Particulars Dr Amt Particulars Cr Amt
Machinery 80,000 Provision for Depreciation
Machinery 22,000
Furniture 15,000 37,000
Furniture 60,000
Adjustments:-
(i) Charge depreciation on Machinery @10% on SLM method
(ii) Charge Depreciation on Furniture @15% on WDV method

DEP MACH = 10% OF 80,000 = 8000

FUR = 60,000-15000= 45000 X 15%= 6750
P/L DR = 8000+6750 (DEP FOR THE CY
BS – ASSET
MACH
80,000-22000-8000= 50000
FUR
60,000-15000-6750= 38250
(b) Following is an extract of Trial balance of Mr. Gagan & Sons
Trial Balance as on 31.3.21
Particulars Dr Amt Particulars Cr Amt
Salaries 20,000 Outstanding Salary as on 1 5,000
April 2020- BEG LAST YR
Adjustments :- salary is paid @Rs.1800 pm
From the above information , calculate the following information
(i) The amount of salaries to be debited to profit and loss account for the year ending 31.3.21.
(ii) The amount of outstanding salaries appearing in the Balance sheet as on 31.3.21
ANS (I)1800X12 = 21600
(II)20,000-5000= 15000 (THIS YR)
OUTSTANDING = 21600-15000= 6600
21600+5000-20000= 6600
(c) The net profit before any commission = Rs. 52,800
Factory Manager’s commission = 10% of net profit after charging such commission before charging
Production manager’s commission = 10/110 *52800 = 4800
Production Manager’s commission = 20% of net profit after charging all commissions
52800-4800=48000*20/120= 8000
2 Rectify the following errors and also show suspense A/c if the total of the debit side of trial balance 6
9 exceeded the total of the credit side of the trial balance by Rs.1,400.
(i) Goods sold to Mohan for Rs.3,700 was wrongly passed through purchases book but correctly
posted to the debit side of Mohan’s Account.
Suspense dr 7400
To sales 3700
To pur 3700
(iii) A cheque for Rs. 2,000 given by Mr. Rahim returned by the bank had been credited to bank A/c
and debited to discount a/c as Rs. 200.
Rahim dr 2000
To disc 200
To suspense 1800
(iv) Rs. 600 owing by a customer had been omitted from the schedule of sundry debtors.
S drs dr 600
To customer 600
(v) Sundry items of a plant sold for Rs. 2,600 had been entered in the sales book as Rs. 6200.
XI 7 of 12
 Sales dr 6200
To plant 2600
To suspense 3600
(vi) A bill of Rs.480 given by Ramesh for repair work (amount is yet to be paid ) was entered in the
purchase book as Rs. 840.- NOT BILL RECEIVABLE
REPAIR DR 480
SUSPENSE DR 360
TO PUR 840
SUSPENSE
SALES 3700 DIFF IN TB 1400
PUR 3700 RAHIM 1800
PUR 360 SALES 3600
BAL C/D 960

3 Prepare Cash Book with Bank Column of Ram from the following transactions:- 6
0 2016
Aug. 1 Cash in hand 80,000
Bank overdraft 85,000
Aug 2 Received a cheque of Rs. 50,000 from Vishnu., after deducting Rs.1000 as discount
Aug 3 Received a cheque of Rs. 4500 in full and final settlement of a claim of Rs. 5000 from Ashu.
Aug 4 Cheque received from Ashu deposited into the bank account with Rs. 5,500 cash.
Aug 6 Cheque received from Vishnu endorsed in favour of Suresh.
Aug 7 Instructed the bank to issue a bank draft for Rs, 30,000 in favour of Ishika. The bank charges Rs. 30
for issuing the draft.
Aug 8 Received cash from Vishal against bad debts Rs. 20,000 written off last year, Rs.16,000.
Aug 9 Transferred to Fixed Deposit Account Rs. 10,000 from current account.
Aug 10 Vishnu cheque dishonoured
Aug12 Deposited cash into bank in excess of Rs.20,000

1/8 TO BAL B/D CASH by bal b/d – bank

2/8 jp = chq in hand acc dr 50000
Dis all dr 1000
To Vishnu 51000
3/8 chq in hand a/c dr 4500
Dis all dr 500
To A 5000
4/8 chq = to chq in hand = bank = 4500
Contra entry =5500
6/8 suresh dr
To chq in hand 50,000
7/8 bank col
By Ishika 30,000
By bank charges 30
8/8 cash acc col to b debts rec 16,000
9/8 by Fd bank col
10/8 v dr 51000
To S50,000
To disc all 1000

Rough = cash bal

20,000 = bal c/d cash col
Diff – contra entry = cash deposited into bank
3 Prepare Trading and Profit & Loss Account for the year ended 31st March, 2021 and Balance Sheet as at that 8
XI 8 of 12
 1 date from the following Trial Balance :—
Particulars Dr. (Rs.) Cr. (Rs.)
Capital 10,000
Cash 1,500
Bank Overdraft 2,000
Purchases and Sales 12,000 15,000
Returns 1,000 2,000
Trade Expenses 2,200
Taxes and Insurance 500
Bad-debts 500
Debtors and Creditors 5,000 2,700
Commission 500
12%Deposits 4,000
Opening Stock 3,000
Drawings 1,400
Furniture 600
B/R and B/P 3,000 2,500
34,700 34,700
Adjustments
1.Trade expenses Rs.200 outstanding and out of the Commission received 1/5 relates to the work to be
done next year . liab 200 t exp pnl dr +
Comm. = 100 = inc recd in adv = bs liab pnl cr 500-100=400
2.Depositis were made on 1st October 2021 and Interest on Bank overdraft Rs.300 is to be paid and
Depreciate furniture to Rs.500
Deposits = bs asset
Int accrued = pnl cr n bs asset = 4000 x 12% x 6 m = 2400
Int on bank od = o/s = bs liab ; pnl dr
Dep = 100
3.Manger is entitled commission @ 10% of net profit before charging such commission.
Np rough 10% liab ; pnl dr
4.Stock on 31st March, 2017 was valued at Rs.4,500.
5.1/4 of the trade expenses relates to factory .
2200+200= 2400 /4 = 600 trading dr ; 1800 = pnl dr
6. Charge Interest on Capital @5%
Pnl dr ; bs cap+ = 5% 10,000= 500
7. Goods worth Rs.500 were lost by fire . Insurance company admitted half claim
Pur (-) 500; pnl dr 250 ; bs asset ins claim 250
3 Manik Traders purchased on 1st July 2013 a machinery for Rs.1,80,000. On 1st October 2013 a modification 8
2 was made to the machinery to improve its technical reliability at a cost of Rs.20,000 and it was considered
that it would extend the useful life of the machinery by two years. Routine maintenance during the year was
Rs. 7,000. On 1st April 2014, additional machinery costing Rs.1,00,000 was purchased. On 1st July 2015 the
machinery purchased on 1st July 2013 having become obsolete was auctioned for Rs.1,15,000 (Rs. 5,000
being auctioneers commission) and on the same date , new machinery was purchased at a cost of Rs. 1,40,000
and Rs. 10,000 was spent on its transportation to the factory.150,000
Prepare the machinery account for the calendar years 2013 to 2015 assuming that Depreciation was provided
annually on 31st December @10% p.a. on the original cost of the machinery

Mach 1= 180,000; mach 2= 20,000

Selling price 115000-5000=110,000
EXTRA QUESTIONS

1 (a) Operating Profits earned by M/S Sharma and Sons in year 2019-20 was Rs.12,50,000. Its non-
operating incomes were Rs.4,00,000 and non-operating expenses were Rs.5,00,000. If Operating
XI 9 of 12
 Expenses were Rs. 6,00,000, find out Gross Profit and Net Profit of the firm.
(b) Calculate gross profit from the following information
Closing stock Rs.70,000 ; Wages Rs.40,000 ; Salary Rs.50,000; Sales Rs.680,000 ; Purchases Rs.400,000 ;
opening stock Rs.50,000
2 Prepare a Trading Account from the following particulars for the year ended 31st March, 2017
Particulars ₹ Particulars ₹
Opening stock 2,50,000 Purchase Return 22,000
Purchases 7,00,000 Sales Return 36,000
Sales 18,00,000 Gas, Fuel and Power 75,000
Wages 2,06,000 Dock Charges 8,000
Carriage Inward 34,000 Factory Lighting 96,000
Carriage Outward 20,000 Office Lighting 5,000
Manufacturing Expenses 2,48,000 Closing Stock is valued at ₹ 6,00,000
3 In a burglary at the godown of Hansraj Traders on the night of 14th July, 2016 part of the stock was
stolen.
From the following particulars, find out the estimated value of loss of stock by theft:
Stock on 1st April, 2016 60,000
Purchases from 1st April to 14th July, 2016 4,10,000
Sales from 1st April to 14th July, 2016 6,00,000
Stock remaining after burglary 12,000
The normal rate of gross profit for his business is 30% of selling price
4 Enter the following transactions in two columnar Cash Book : –
2016 ₹
Dec 01 Started business with Cash 50,000
Dec 02 Pays into Bank 29,000
Dec 03 Received cheque from Raja and Co. 8,000
Discount allowed 200
Dec 05 Withdrew cash from bank for private use 2000
Dec 10 Purchased goods for ₹ 1,00,000; IGST 18%; Payment
made by cheque
Dec 12 Sold goods for ₹ 1,50,000; trade discount 20%; IGST 18%;
Payment received by cheque
Dec 14 Received cheque from Kamala 3950
Discount allowed 50
Dec 16 Kamal’s cheque endorsed to Bala in full settlement of her
account of ₹ 4250
Dec 29 Paid rent by cheque 1,000
Dec 30 Deposited into bank, balance of cash in excess of 450
5 Enter the following transactions in Two column Cash Book of Mr. Mohan
2018 ₹
Jan 01 Cash in Hand 2200
Cash at bank 50,000
Jan 03 Purchased goods for ₹ 75,000; Trade discount 20%;
CGST 6%, SGST 6%; Payment made by Cheque
Jan 04 Sold goods for ₹ 40,000; Trade discount 15%; IGST 12%;
Payment received by cheque
Jan 05 Received a cheque from Naresh 1,000
Jan 08 Cheque received from Naresh endorsed to Suresh in full
settlement of his account of ₹ 1,050
Jan 10 Paid Life Insurance premium of Mr. Mohan 100
Jan 13 Received a cheque of ₹ 700 from Pawan in full settlement of his
account of ₹ 750.
Jan 16 Pawan’s cheque returned dishonored by bank
XI 10 of 12
 Jan 20 Deposited into Bank, balance of Cash in excess of ₹ 250

6 Following balances were extracted from the books of Shri Manmohan Das on 31 st March 2020.You are
required to prepare a trial balance .The amount required to balance should be entered as capital .

Name of Accounts Amount Name of Accounts Amount

Purchases 2,12,50 Drawings 9,625
0
Opening stock 30,000 Return inwards 4,375
Sales 1,31,2 Premises 6,60,00
50 0
Sundry debtors 29,750 Sundry creditors 20,125
Discount received 4,375 Discount allowed 3,500
Carriage outwards 875 Carriage inwards 1,750
Cash In hand 4,375 cash at bank 21,875
Machinery 1,55,625 General Expenses 2,625
Provision for depreciation 30,250 Bad debts written –off 3,065
on machinery
Provision for doubtful debts 2,975
7 Journalise the following transactions
(i) Mr. Raja started business with Cash ₹60,000, Cheque for ₹90,000 and a Building valued at
₹7,50,000.
(ii). Sold goods costing ₹3,000 to Nikhil for ₹3,750 plus IGST 10%.
(iii). An old machine with book value of ₹40,000 is exchanged for a new machine of ₹1,20,000. The
old machine is valued at ₹25,000 for exchange purposes by machine Tools Ltd.
(iv). Goods costing ₹3,000 were destroyed by fire .They were not insured.

8 Ashok keeps incomplete records. The position of his business on 1st April, 2016 was as follows :
Cash in Hand Rs.2,200; Cash at Bank Rs.5,400; Stock Rs.25,100; Sundry Debtors Rs. 18,700; Furniture
Rs.6,000; Sundry Creditors Rs. 13,500.
His position on 31st March, 2017 was as follows :
Cash in hand Rs. 1,500; Cash at Bank Rs.8,400; B/R Rs.3,300; Stock Rs.26,000; Sundry Debtors
Rs.24,600; Furniture Rs.8,000; Sundry Creditors Rs. 14,200.
During the year he had withdrawn from the business Rs. 18,000,
(a) Depreciate furniture by 10%.
(b) Write off Rs.600 as Bad-Debts.
(c) Make a provision of 5% on Debtors for doubtful debts.
Calculate the profit or loss of his business for the year ended 31st March, 2017
9 Calculate the amount of gross profit and operating profit on the basis of the following balances extracted from
the books of Rajiv Sahay for the year ended March 31, 2021:
Opening Stock ₹ 50,000
Net Sales ₹ 11,00,000
Net Purchases ₹ 6,00,000
Direct expenses ₹ 60,000
Administration expenses ₹ 45,000
Selling and distribution expenses ₹ 65,000
Loss due to fire ₹20,000
Closing stock ₹70,000
1 Gross profit ratio 20% , gross profit Rs. 30,000, Purchase return Rs.50,000 , cash purchases is 25% of net
0 credit purchases , closing stock Rs.60,000 ; opening stock is half of closing stock ; wages Rs.5000 . Calculate
cash purchases and gross credit purchases
XI 11 of 12
1 Operating profits Rs.12,50,000 ; direct expenses Rs.300,000 , non operating incomes Rs. 400,000 , non
1 operating expenses Rs. 500,000 ; operating expenses Rs. 600,000. Find Gross profit and net profit of the firm

XI 12 of 12