DELHI PUBLIC SCHOOL, BHILAL ANNUAL EXAMINATION ~ 2018, XI(ACCOUNTANCY) 22.02.2018 Tae: 3 HOURS mato | This question pope contains wo ports A and Al questions in both the pars ore compuiny. ‘Alla of avestions shea be otemated atone ce, och question cares mart inseoted ogcinst ‘ansnesshaul be brian fo the poe Name tne ualtatve characteristic of secountingWlrmation which equres the us of commen unit and Common form ofeertne a Name any two souteedocoments a ‘Wha doesa creditin an ace ecourt sen? a ats the main objective of repanng sil Balance? a he ae pares to a Promissory Note? a State any tres iain of counting a Define the fdowing {a) Revenue Expendure (0) Fatious Ase (©) Curent iy ° ‘ourase the follwing transactions (Mohan, who owed € 1,000, has become insdven. He pys 60 pele in rupee i fll and fia (So goods purchased at is pric of 25,000 es 15% rae count sold at 2 oof of 20% ts trade (yn rae wos paced wth M/s Pronger Industries fora Lathe Machin costing 500,000 A cheque for 50,000 as esd as adronce 8) From the flowing particulars provide by Goury, rare sash book with sutablecekimns: ah 2018 « Jan. 1 Sank Overdat 12.000, Cashin tana 2300 Jans 7 Cheaue eeived from Smu and deporte ints bank onthe nest dey | 4000 Jan, 12 Depostes ito bank 200, Jan, 15 Received» money order 500 Jan 20° Money whhdrawn frm bnk or ofc use 200 San, 25. Bunkcharaes doi by bn 20 Jan, 30. tererton bank overdrat 2.000 ‘On comparing the Cas) Book with Bank Pass Book o Ms Sakshi Sports Emporium its ound tat on 3" Jancary, 2018, bank blene of 40,60 (eit showed by the Cath Book difers ram the an balance of Pas Book wth regard tthe folowing (a) Bank Charges € 100 on 31"Janary, 2038 ae not ntred nthe Csh Bok. (6) on 21% aruary, 2018,» debtor pad 2,000 into the fms Bank sezount in settlement of hi 3ccount, but no erty was made inthe Cash Book of the {6 Greqes totaling € 12,360 wer sued by the fm and duly recorded by the fm inthe Cash Book but hod not been presented ot the bank for payment unt after tet date (@) Abilfor 6900 deountd withthe banks entered inthe Cash Bock without recording he dicount tharze of 800. (©) £3520 entered in the Cath Book a paid into bank an 3" nua, 2018 but ot crdted bythe ‘ankunt he folowing doy. (0 No enty has Been made in the Cash Back to record the dshonour 25 anuty, 2018 of cheave for 650 raceved from Ang Prepare a dank Recondition statement as 7 32" Jrwary, 2048. @ hats meant by Actual Baio Aczountng? Ge ry tree avartoges of ” plan he Accounting Conventon/Assumotion basen the prem (a) Donot antipate profes but ponder alse (b)Busneseunte ast intel, @15 Ghethe Jounal entries to ect te folowing ror using Suspense Account where necessary (0 Goeds of te velue of 2000 returned by Gupta mere areredinthe Sales Book an posted therefrom tothe cred of ie acoant (i Goes worth «1.500 bought bythe propratr fr his personal use without any payment being made 3 etwas wrongly entered inthe Purchases Bock. WA chee for «300 receved rom Ashok was ditonoured and hasbeen posted to the debi of Sales (i The otal of one page ofthe Sales Book was card forwacdt the nest page stad of 60, (0) Ante of € 300 relating to Preps surance secoun was omit to be brought forward om the previous years books (ui) A prenore of 670had bon posted tothe Credo’ Account a 600 o 18.0n 2" anuary, 2034 Arnat it. purchased mace for € 240,000 and on 20" une, 2035, aequled ‘ational machinery aa cost of 40,00, On 31" War, 2016, one ofthe orignal machinery (purchased ‘2 nua, 2014) which had os of € 10,000 wasTound to have become obsolete and was ld 3559p for 100, twas replaces on that ate by anew micine costing 15,000. Depreciation st be proved (215% per annum on the wren down vl. Accounts are sed on 31" December each year. Show he Machinery account forthe st 3 eats. © 15 Joumsse the flowing Wanseetions (e) Mohan’ ezeptnce to Sohan for € 20,00 renee at 3 months together with inarest @ 18% pa (ey Shyam requests Mohan ta renew is accentare for € 25,000 for 2 months. Mohan specs tot provided iteress pid 10% pan cash sham agrees tof Pas entrain the Book of Mahan (@) Ganesh informs Kama that Sahon’s Promisor Nate for € 75,000 hay Been honoured and that rot charges 250 have Been pa ara sans 9 cheque to Ganesh and thaws the Promizory Note: Pas ene in the books of Kama (Gea) ‘am owed to Har 1,20,000 1" January, 2017. the same dte, Hot drew upon Ram bil or the amount for 2 months and Ram etuned the bil uy accepted. Hat gt the il scouted at his bank © 15% por annum Before the bil as due for payrent, Ram tld Ha that he was not ale to pay te fll amount and requested Hal te 2ccopt€ 40,009 meaty an rew upon him another bil forthe remaining mount for 2 months together ith intrest @ 18% per anrum, Ha mare, The second bil wae dy met ons rmawurty Pas recessaryJoumal nes inthe book @) oast=8 16, hat do you meen by humanware a an slarent of computer yt?) {17 Gaeite Closing stock fom the allowing dea ‘pening Stock 20,000; Cash Sales * 60,00, Purcrass & 70.000; Credit Sales 40,00; Rate of Gross Profron cost 335% 3) 18, .xplan ay tee features Not for Prof Oran, ° 18.Explan any thee capabities of computer sytem, 3 20: Sajay started a rr on 1” Apr 2016 wth captl of € 300,000 On 1 ly, 2016 he borrowed fom is wife sm oF 40000 © 94. interest na et pa) fr business and introduces a urbe apa of his ‘own amounted 015,00. On 31" Mare, 2017 hs sotion wa follows: ash € 6,00; stock "98,000; Debtors #70000 a restr 60,000, ‘ewan cng scan o.oo es gs ugh @ atone es and amas Reef aeenton be eyes eed" Mah 208 S Texts ond Damen ce arenes hes 2 oe ar reyman mrt] ‘To.Cashin Hand ‘300 | By Salaries 24,000 oeuhot ark [gh ern 300 resus <800|Basge 20 Ceca fr 205 36a Brinnand Sacoery ao Soon? erence oes Sera Tomer on mene 209m yest une etenies ‘=| ay sere 0 Tesseerumre 30 By menet Bonds ‘Bee youn i yeah tnt iam A300 [743002 Following sation informations ao supped wus [s) On aol, 2036 the cb nd the folowing arts nd abies Irvesmens€4,60,000; Furiture€ 30,00; Lbry Bock 50,000 and Labi for Rent 600 and for (b) 093" ware, 3017, Rent of 800 an Salaries 2.800 waren areas {e} Mebook valve of frnture old war #2500, Propare income and Expentture Account ofthe Oub forthe year ended 31" nach, 2017 and calculate ‘theameurt of captl Fund inthe begining ofthe yar 20167. ‘8 22 En oy atrnageleonpueroed tng 6 (a Clute the amount to be debited to Stationery count in Income and xpendtre Account othe ‘Stock of Stationery on 1" Apri, 2016 3,000 eaitors for stationery on 2 Apel 2016 2000 Brun pai for Stationery during 2016-27 saa0o ‘StockafSatlonry on 31” Match, 2017 00 (reditosfor stationery an 31" Mare, 2017 1300 (0) How ate the flowing items eccounted incase cf NotforProft Orzmiston forthe year ended 31” Mare, 20177 Sports Fund as on 1.42016 ,00,000; sports fund investments € 100,000; inert on Spots Fund Investenents€ 10,00; Donation for Spas Fund 40,00; Sports Press Aunrded % 30,00; Expendes con sports Events € 10,00. {c) Befine Endowment Fund and Legacies. (22256) 24, Prepare Trading and petit and Loss hezount for the yar ended 31° March, 2017 ana Balance Sheet a= ‘on that date fom the fllowing Ta Blane; Name of courts De Amant |G Anoont Stokon 2" Agel, 2016 32000 Purcso/Sler 7000) 220.000 Carriage lnwards 2.600 CGorisge Gutwards soo salores «0000 Aavertizemants 9,000 Rent 12000 | [Eabshment Expenses sco Stable farenses’ 200 Interest on Mortgage Loan 00 | Mortgage and nearest date | 13600) Sundry Debtors nd Sundry Creditors 3.000 30.000 ath nhand| 2500 Machinery 87500 Rent Oustanaing 000 ‘Adina information {e} Gasing tock was #46000 {6} Provision for eoubtul debts be created on Sundry Debors @ 5H and 8 provision fr dsecunt on Sindy Debtors t 2% {c) Debtor inde Salary of€ 3,000 paié to an employe of he fm which was wronly debited to his persona account instead of Saar accourt. (4) A stationery of 200 remain unpaid en unrecorded (c} Were off ones of adverssament expenses fer the current yar (f Sundry rete incde 10,00 ln nk ran Ghanchyam on September, 2036 bearing Interest eimtps ‘8!