G.N.P.K.

S Collegiate School, Nadala

Paper Accountancy-I
Time- 3hour

P.m-13
Section-A

Attempt all Questions.

1.
2.
3.
4.
5.
6.

Define Accountancy?
What is Capital?
What do you mean by Cash book?
(3)
What is diff Between Journal and Ledger?
What is Purchase Book? Diff between Sale book and purchase book?
Find out COGS?
Opening stock = 45,000
Purchase = 246000
Purchase return = 31000
Closing Stock = 70000
(6)
7. What is Double entry system? Its advantages and limitations
Or
Journalize Following transactions and post into ledger?
2011
April 1 Santosh stated business with cash Rs.35000, Machinery Rs. 25000
and Furniture Rs. 15000
April 10 Machinery Costing Rs. 18000 sold for Rs. 20000
April 26 Furniture Costing Rs.10000 sold for Rs 8000
May 12 Cash Withdrawn by proprietor for personal use Rs. 16600
May 31 Furniture costing 4000 withdrawn by proprietor for personal use. (5)
Section-B
Attempt all Questions.
1.
2.
3.
4.
5.
6.

T.m 35

What do you mean by Provision for Bad debts?

What is Trading account?
What is Bill of exchange? (3)
What is difference between Provision and Reserve?
What is Trail balance? Its importance?
From the following Prepare Sales Book:April 1 Sold to Boys Zone, Chandigarh
30 Trousers @ 1200 Each
25 Suits @ 800 Each
Trade Discount 10%, Vat 10%
April 2 Sold to Girls wear, Mandi
24 Tops @ Rs 2000 Per Dozen
36 Trousers @ Rs 9000 Per Dozen

7. A company purchased plant of Rs. 4,00,000 .The useful life of plant is 10 years and scrap
value after 10 years is 40000.Findout depreciation. (8)
8. What are concept and conventions of Accounting? Explain it?
Or
Geeta sold goods to Seeta for Rs.2000 on credit on 18th July 2010 and received from him a bill
for 3 months for Rs 2100 which included Rs 100 for interst for credit period of sale. Give
journal entries in the books of both by following case:a) When bill is discounted immediately @ 6%
b) When bill is discounted immediately @ 9%
(5)
9. What is Profit and Loss account? Diff between profit and loss account and Trading Account?
Or
From the following prepare Trading and profit and loss account & Balance sheet for the year
ending 31st March 2013.
Particular
Opening Stock
Purchases
Sales
Purchase Return
Return Inwards
Wages
Carriage
Coal,Gas & Water
Salaries
Trade Expenses
Printing & Stationary
Capital
Drawings
Land
Machinery
Cash
Debtors
Creditors
Investments
Total

Debit
4000
12000

Credit
25000
1455

1350
500
700
300
1200
500
700
5000
100
5000
4000
2200
1000
6000
3905
37455

37455
(5)