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Accountancy Practice Paper- I PUCMax Marks=52

These questions are for 6 marks each. 4*6=24 marks

Q1. Pass the following entries in the Journal of Rafiq.

2007May 01. Rafiq commenced business with cash Rs. 25000

May 02. Deposited into bank Rs. 5000May 04. Bought machinery for cash Rs. 20000

May 05. Bought goods for cash Rs. 4000

May 07. Bought goods from Sahib Rs. 8200

May 08. Cash sales Rs. 3500May 10. Sold goods to Muktar Rs.1500

May 17. Received cash from Muktar Rs. 1500

May 21. Paid cash to Sahib Rs. 7200May 22. Withdrew cash from bank for office use Rs. 1350

May 24. Purchased goods from Yusuf for cash Rs. 800May 25. Sold goods to Ibrahim for cash Rs. 4000.May 27. Paid advertisement expenses Rs. 650

May 29. Paid salaries to employees Rs. 1600

May 30. Received rent Rs. 600

Q2. Journalise the following transactions and post them to ledger to ledger accounts.

2008

Jan 01. Started business with cash Rs. 50000, furniture Rs. 30000Jan 03. Purchased goods Rs. 15000

Jan 07. Sold goods Rs. 20000

Jan 09. Cash deposited into bank Rs. 20000Jan 15. Purchased machinery Rs. 12000

Jan 18. Purchased goods by means of a cheque Rs. 8000

Jan 21. Purchased goods from Amar Rs. 25000

Jan 24. Paid salary Rs. 3000Jan 27. Sold goods to Samar Rs. 40000

Jan 29. Withdrawn from bank for personal use Rs. 15000

Jan 30. Received rent Rs. 2500

Q3. Enter the following transactions into their proper subsidiary books.

2004

Oct 01. Purchased goods from Arvind Mills for Rs. 4000, less 10% trade discountOct 10. Purchased goods from Bhaskar Stores for Rs. 5000, less 10% trade discount

Oct 15. Returned goods to Arvind Mills Rs. 400 netOct 20. Sold goods to Chandan Stores for Rs. 6000 at 20% trade discount

Oct 25. Dhanraj and Sons purchased goods worth Rs. 1500, less 20% trade discount

Oct 27. Goods returned by Dhanraj and Sons Rs. 350

Oct 30. Erappa Bros. sold goods worth Rs. 2500.

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Q4. Enter the following transactions in a simple cash book.

2004

Sep 01. Cash received from Prakash Rs. 15000Sep 07. Paid to Ravi Rs. 2000

Sep 12. Paid interest on loan Rs. 500

Sep 20. Cash purchases Rs. 1900Sep 22. Withdrawn cash for personal use Rs. 350

Sep 25. Paid for rent Rs. 1000

Sep 28. Received cash from Aloka Rs. 4100

These questions are for 14 marks each. 2*14=28

Q5. Prepare the trial balance on 31st Dec 2007 from the following particulars.

Particulars Rs. Particulars Rs.

Cash in hand 5000 Purchases 90000

Bank overdraft 20000 Machinery 20000Sundry debtors 30000 Freight 3000

Salaries and wages 15000 Discount 2000

Sundry creditors 25000 Furniture 10000

Capital 100000 Land and buildings 100000

Drawings 10000 Goodwill 20000

Returns inwards 2000 Bills payable 15000

Returns outwards 4000 Rent 6000

Sales 120000 Interest Received 2000

Commission 2000 Motor car 10000

Trade Expenses 1500

Q6. From the following prepare a three-column cash book.

2007

Jan 01. Cash in hand Rs. 4000, cash at bank Rs. 16000Jan 02. Paid Satish by cheque Rs. 9500 and discount allowed by him Rs. 100

Jan 04. Bought goods for cash Rs. 800 and for cheque Rs. 3000

Jan 06. Drew cash for office use Rs. 3000Jan 07. Paid wages in cash Rs. 2500

Jan 08. Paid Umesh Rs. 1200 by cheque

Jan 09. Sold goods for cash Rs. 8000

Jan 12. Received a cheque from Babu Rs. 3200

Jan 13. Te above cheque returned dishonouredJan 20. Paid into bank Rs. 9200

Jan 24. Received a cheque from Antony Rs 4200 and deposited same into bankJan 27. Paid Henry Rs. 1750 in full settlement of his account for Rs. 1800

Jan 30. Received a cheque from John for Rs. 5850 in full of his account for Rs. 5900