Important Questions for ACCOUNTANCY XI

Important Questions for ACCOUNTANCY XI

Attempt all questions.                                                                                                      

  1. What is Book keeping? Write its objectives.                                                   1+2
  2. Write the advantages of Double entry Book keeping system.                             3
  3. Explain the meaning of Accounting period Concept with suitable example.      2
  4. Write the importance of subsidiary books.                                                          2
  5. Write the rules of debit and credit.                                                                      2
  6. Explain briefly the accounting process.                                                      3
  7. Following transactions are given.                                                                                6
  8. a) Commenced business with cash Rs. 2500000 and stock of goods Rs.30000.
  9. Rent paid Rs. 12000
  10. Goods stolen by thieves Rs.5000.
  11. Sold goods costing Rs. 6000 at a profit of Rs. 1000
  12. Salaries outstanding Rs.10000
  13. Received cash from the debtors Rs.6800 and allowed discount Rs.200 to him.

Required: Accounting Equation.                                                                     

  1. Following transactions are given to you.                                                      5
  2. Commenced business with bank balance Rs.200000.
  3. Purchased goods costing Rs.60000 making partial payment through cheque  Rs.12000.
  4. Goods lost by fire costing Rs.15000 but the insurance company admitted a claim        of 70%.
  5. Cash sales Rs.7500
  6. Withdrawn from bank Rs.40000 for office use.

Required: Journal entries.                                                                  

  1. You are given the following transactions. 5

      April 2 Salary paid amounting Rs. 25000.

      April 7 Commission of Rs. 10000 and outstanding commission of  Rs. 5000 paid.

      April 15 Rent amounting to Rs. 30000 was paid to house owner.

      April 18 Interest of Rs. 15000 received.

      April 22 Received cash of Rs. 950 from Mr Rajat in full settlement of Rs. 1000.

      Required: Journal entries.                                                                                    

  1. From the above question number 9 extract the following ledger accounts.    2 x 2=4
  2. a) Cash Account b) Rajat's Account                                                                        
  3. Following information related to Mrs Sharma the debtor of the business is given to you.                                                                                                              5

Sept 1 Opening balance Rs. 20000.

Sept 4 Received cash Rs.18000 and discount allowed Rs.2000.

Sept 19 Sold goods costing Rs.30000.

Sept 22 Returned goods of Rs.5000.

Sept 30 Received a cheque of Rs. 24000 as full settlement.

Required: Mrs Sharma's account.                                                                     

  1. Following transactions relating to purchases are given to you.

Jan 1 Purchased from Hira Stores

             96 pieces of copies @ Rs. 720 per dozen 

            3 dozen register @ Rs. 250 per piece.

            (Trade discount 10%)

Jan 17 Bought from Reena stationery on cash

           10 packets of  Carbon paper @Rs. 450 per pkt

Jan 24 Bought from AN Brothers

           20 packets of  stapler pins @Rs. 30 per packet

            6 dozen diaries @ Rs. 200 per piece, trade discount 10%

Required: a) Purchase book b) Purchase account                                                        3+2=5

  1. Following transactions related to Sales are given to you.

            Feb 7 Sold to Mrs Upadhyaya

             480 pieces of eggs @Rs. 180 per dozen

            50 liters of Sunflower Oil @ Rs . 4000 per litre.

          (Trade discount @10%)

Feb 15 Sold Old Computer to Mrs Rai Costing  Rs. 50000.

Feb 24 Sold to Mrs Shakya

             100 pieces of Chocolate @ Rs120 per piece

            3 quintal rice @ Rs. 60 per kg.

            (Trade discount20%)

Requiredi) Sales Book ii) Sales a/c                                                                                     3+2=5    

  1. Write the meaning government accounting and state its three objectives.             4

15 Write any four features of new accounting system of Nepal Government.                             4

  1. a. Write any there difference between government accounting and commercial accounting.                                                                                 3
  2. Mention any there importance of new accounting system.                 3

                                            

  1. The following transactions of A Government office is given to you.                         6
  2. Issued a cheque of Rs. 40000 for the purchase of furniture.
  3. A cheque number 0076 of Rs.30000 was issued for the payment telephone charge.
  4. Issued a cheque of Rs.20000 in favour of storekeeper Mr. Hari as advance for purchasing food   materials.

Required: Journal Voucher                                                                                                                     

  1. The following tranasctions are provided to you by District irrigation office, Dang
  2. Issued a cheque in favour Mr Bimal as advance of Rs. 80000 for purchased for computer.
  3. Mr Bimal submitted the bill of computer for Rs. 90000 and his advance cleared by issuing cheque for excess amount of expenditure.
  4. TADA advance of Mr Shaym Rs.5000 has been cleared against the bill of Rs.4000 after receiving bank voucher for the advance amount.                

Required: Journal Voucher                                                                             6                                                                                                                    

  1. Following transactions are given.
  2. Received bank order and budget release order of Rs. 25, 00,000 for the actual expenditure of last month.
  3. Received a bank order of Rs. 20, 00,000 and budget release order of Rs.25, 00,000 for the actual expenditure of last month.
  4. Received a bank order of Rs. 3000000 and budget release order of Rs.2500000 for the actual expenditure of last month.

Required: Journal Voucher                                                                                       6

  1. Following particulars are available to you.
  2. Total salary of Rs.330000 for the month was distributed after deducting provident fund of Rs.60000 and income tax of Rs. 5000
  3. A cheque of Rs. 300000 has been issued for distributing of salary after making deduction of provident fund of Rs. 70000 income tax of Rs.7500 and provident fund loan of Rs. 7500.
  4. Issued a cheque in favour of Assitant Accountant Mr. Ramesh for the establishment of petty cash fund of Rs. 2000

Required: Journal Voucher                                                                                         6

  1. The following particular are available to you.
  2. Received from Kalika Construction of Rs.60000 and JB Construction of Rs.50000 as security deposit on tenders.
  3. Due the rejection of tender submitted by JB Construction, the security deposit amounts were rejected.
  4. Issued a cheque of Rs. 190000 in favour of building contractor after deducting 5% as contract tax on the value of running bill.

Required: Journal Voucher                                                                                             6

  1. Following transactions are given.
  2. A cheque of Rs. 40000 was issued for house rent.
  3. Pant has submitted bills and documents for actual expenditure of Rs.4000 and bank deposited voucher of Rs.1000 deposited into bank to clear his office supplies purchase advance.
  4. Annual Closing was made for the total budget expenditure amounting to Rs.8,00,000.

Required: Journal Voucher                                                                                               6

Attempt all questions.

  1. What is accounting? Write its objectives.                                                 1+2
  2. Define double entry system of book keeping and mention any two features. 1+2
  3. Explain the meaning of Going concern Concept with suitable examples.       2
  4. Differentiate between cash discount and Trade discount                                 2
  5. Write the rules of debit and credit.                                                                   2
  6. Explain briefly the Scope of accounting.                                                         3     
  7. Following transactions are given.                                                            6
  8. a) Commenced business with cash Rs. 500000.
  9. Bought goods costing Rs.500000 and made partial payment of Rs. 100000.
  10. Sold goods costing Rs.10000 at Rs. 12000.
  11. Received commission Rs.3000.
  12. Paid cash to the creditor of goods Rs.39000 and discount received Rs.1000.
  13. Withdrawn cash for personal use Rs.15000.

Required: Accounting Equation.            

  1. Following transactions are given to you.
  2. Borrowed loan from loan from bank Rs.200000.
  3. Paid insurance premium Rs.40000.
  4. Salaries paid Rs 15000 and still outstanding Rs5000.
  5. Sold goods Rs. 40000 and half of it deposited in the bank.
  6. Purchased machinery costing Rs. 190000.

Required: Journal entries.                                                                                           5

  1. You are given the following transactions. 5

  Jan 1 Started business with bank balance of Rs.350000.

  Jan 4 Bought goods costing  Rs50000 on credit form Mr Kabir.

  Jan   12 Sold goods to Ranbir costing Rs. 20000 at trade discount of 10%.

  Jan 18 Paid cheque to Kabir Rs. 24000 and discount received Rs 1000.

  Jan 30 Ranbir is declared insolvent and only 20% of it is written off as bad debts.

Required:Journal entries.

  1. From the above question number 9 extract the following ledger accounts.
  2. a) Kabir's account b) Ranbir's account 2*2=4
  3. Following information related to Mrs Sharma the debtor of the business is given to you.

March 1 Opening balance Rs. 10000.

March 5 Purchased goods costing Rs 20000 on credit from Mr Tamang.

March 10 Cash paid to Mr 1000.

March 15 Returned goods to Mr Tamang Rs.1000.

March 30 Paid cheque to Mr Tamang to settle his account Rs.25000.

Required: Mrs Tamang's account.                                                                                    5

  1. Following transactions relating to purchases are given to you.                   3+2

May 1 Purchased from DC Suppliers

                     2 dozen chairs @ Rs. 1500 per chair. 

                     5 pieces of table @ Rs. 6000 per piece. 

            (Trade discount 20%)

May 13 Bought from Bira Furnishing stores on cash.

           3 sets of sofa set@ Rs 20000 per set.

May 18 Bought from NK Furniture.

           2 queen sige beds @Rs.50000 per bed, trade discount @5%

            5 pieces of tea table @ Rs.3000 per piece. 

Required: a) Purchase book b) Purchase account                                                                          

  1. Following transactions related to Sales are given to you.

            Oct 5 Sold to Jeevan and Brothers

            30 pieces of mobile sets @ Rs.4500 per set.

             10 pieces of laptop @ Rs 40000 per piece,

          (Trade discount @20%)

Oct 17 Sold to Neema stores through cheque

            5 Cannon cameras @ Rs. 35000 per camera

Oct 25 Sold to Jenna Electronics

             48 pcs of calculators @ Rs. 18000 per dozen

             10 pcs of tablets @ Rs. 8500 per tablet.

      (Trade discount15%)

Required: i) Sales Book ii) Debtor account.                                                                                   3+2

  1. Write the meaning new accounting system and state its three objectives.    4

15 Write any four features of government accounting system.                                                         4

  1. a. Write any there difference between government accounting and commercial accounting.                                                                              3
  2. Mention any there objectives of new accounting system.                        3
  3. The following transactions of A Government office is given to you.            6
  4. Issued a cheque of Rs. 60,000 for the purchase of Computer.
  5. A cheque of Rs.50000 was issued for the payment house rent.
  6. Issued a cheque of Rs.30000 in favour of accountant Mr. Ram as advance for purchasing printer.

Required: Journal Voucher                                                                                                                          

  1. Following particulars are available to you. 6
  2. Total salary of Rs.400000 for the month was distributed after deducting provident fund of Rs.80000 and income tax of Rs. 15000
  3. A cheque of Rs. 350000 has been issued for distributing of salary after making deduction of provident fund of Rs. 70000 income tax of Rs.7500 and provident fund loan of Rs. 7500.
  4. Issued a cheque in favour of Assitant Accountant Mr. Ramesh for the establishment of petty cash fund of Rs. 3000.        

Required: Journal voucher

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