SACRED HEART PUBLIC SCHOOL, JANDO-KE

CLASS:- +1 NOVEMBER – 2019 SUBJECT:-ACCOUNTANCY

TIME:- 1 HOURS M.M:- 30

1. There are 5 questions. Each question carry 1 marks: - 5x1=5

(a) Name the brown of commerce, which keeps a record monetary
transactions.
(b) Name any two objectives of Accounting?
(c) What is a Journal?
(d) What is meant by posting?
(e) What is Trial balance?
2. There are 3 questions. Each question carry 3 Marks: - 3x3=9
(a) Prepare a Trail Balance.
(i) Capital 2,00,000 (v) Stock 70,000
(ii) Cash 1,80,000 (vi) Debtors 3,00,000
(iii) Creditors 1,00,000 (vii) Bank loan 1,50,000
(iv) Sales 3,00,000 (viii) Purchases 2,00,000
(b) Calculate closing stock from the following.
(i) Opening stock 36,000
(ii) Net purchases 45,000
(iii) Salaries wages 7,000
(iv) Sales 60,000
(v) Gross loss 4,000
(vi) Freight Inwards 6,000
(c) Ascertain cost of years sold.
(i) Opening stock 8,500
(ii) Purchases 30,000
(iii) Direct Expenses 4,800
(iv) Indirect Expenses 5,200
(v) Closing stock 9,000
3. There are 2 questions. Each question carry 8 Marks: - 2x8=16
(a) From balances appear in the trial balance, make trading A/c.
Opening stock Raw material 80,000
Finished goods 1,40,000

Purchases 3,60,000
Sales 7,00,000
Returns purchases 10,000
Sales 6,000
Wages 1,30,000
Factory Exp. 9,000
Freight Inwards 20,000
Freight outwards 30,000

Closing stock Raw Material 70,000

Work in progress 20,000
Finished goods 1,10,000
(b) What do you mean by accounting and the advantages and
limitations of accounting?

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