S..Y.J.C.

HOME ASSIGNMENT 2021-22

SUBJECT: BOOK KEEPING AND ACCOUNTANCY

Q.1 A. Select the most appropriate answer from the alternatives given below
and rewrite the sentences:

1._____________ means payment of the bill before due date.

a) discounting of bill b) retirement of bill) renewal of bill d) endorsement of bill

2. the person , to whom or as per his order amount of bill is payable is a

_____________.

a) drawer b) drawee c) payee d) creditor.

3.A bill drawn on 29 august 2016 for 1 months will due payable

on___________.a)2nd oct 2017 b) 1 oct 2016 c)3rdoct 2019d)30thsept

4.when bill is dishonored _________ is held responsible for the nothing charges.

a) holder b)drawee c) drawer d)endorser.

5.Asequity shar of face value Rs. 10 issued at Rs. 15 Then the equity share is
issued at _______

A At par B At premium C at dissciunt D. At more the face value

Q1 B) PREPARE A SPECIMAN OF BILL OF EXCHANG FROM THE FOLLWING

INFORMATION.

drawer Rahul chaudhari 105, g.b road ,thane.

drawee prakash patil 207, ganga road nasik.

payee sonal chaudhari, m.g. road, dhule.

period of bill 60days. Amount of bill Rs. 10,000.

Date of bill 18thdecember 2013.

Date of acceptance 18thdecember 2013.

Q2 ) on 14thmay ,2012Rohit sold goods on credit to Devidas fo rs. 30,000.

on the same date rohit draws a bill on Devidas for rs.30,000 at 3months . Devidas
accepted it and returned the bill to Rohit.

on 17thjune, 2012, rohit discounted the bill with his bank @10% p.a. on due date
devidas finds himself unable to make payment of the bill and request Rohit to
renew it. Rohit accepted the proposal on the condition that Devidas should pay rs.
10,000 on account along with interest of rs.500 in cash and should accept new bill
for the balance at 2 months.

These arrangements were carried through.Give journal entries in books of Rohit

and prepare Rohit a/c in Devidas ledger

@3)Abhay and Vijay were partners sharing profit and losses in the ratio of
2 :1 respectively Their Balance Sheet was as follows:
Balance Sheet as
On 31st March, 2010
Liabilities Amount Assets Amount
(Rs.) (Rs.)
Capital A/c : Cash at Bank 4,000
Abhay 24,000 Debtors 15,000
Vijay 16,000 Stock 23,500
Trade Creditors 26,000 Furniture 5,000
Asha Loan A/c 6,500 Building 25,000
Total 72,500 72,500
st
On 1 April 2010, Sanjay is admitted in the partnership on the following terms

1)Sanjay should bring in cash of Rs. 12,000/- as capital for 1/5 share in future
profit.

2)Goodwill A/c be raised in the books of the firm for Rs.4,500.

3)Building is revalued at Rs. 28,000 and the value of stock be reduced by Rs.
1,500.4)Reserve for doubtful debts be provided at 5% on debtors.Prepare
:a)Profit and Loss Adjustment account b)Capital account of partners

c)Balance sheet of the new firm.

Q4.)Khandelwal co.Ltd.made issue of40,000 equity share of R20 each payable
as follows: Application Rs. 5 per share Allotment Rs. 10 per
share

First call Rs. 3 per share second& final call Rs. 2 per share

The company received Applications of 45,000shares of which applicants for

5,000 shares were rejected and the money refunded. All the Shareholders paid
up to second call except Sachin ,the Allotee of 2,000 shares failed to pay final
call. Pass Journal entries for the above transactios in the books of Khandelwal &
co.

 Q5.The Balance sheet of Babu and chandu who share profit & loss in the
ratio of 3:1 as on 31 march 2018.
Balance sheet As on 31 march 2018

Particulars Amt(Rs.) Particulars Amt (Rs.)

Creditors 20,000 Bank 20,000
Wokmen’s 30,000 Debtors 13,000
compensation Less-Rdd 1,000 12,000
Reserve
General Reserve 24,000 Bills Receivable 10,000
Babu capital 32,000 stock 20,000
Chandu capital 28,000 Land & Building 30,000
Total Goodwill 42,000

1,34000 1,34,000

Annu was admitted on 1.04.2018 for 1/5 share on the following terms

1. He will bring in Rs. 20,000 as his share of Goodwill and Necessary

amount for his share of capital o in cash .
2. Anil an old customer Whose account was written of as Bad he paid Rs.
400 in cash in full settlement of his dues
3. The market value of Land & Building is taken to be Rs40,000.
4. . Workmen compensation Reseve w to be increase by Rs.10,000.
5. Unaccounted Income of Rs. 200 to be accounted for .
6. The capital accounts of All the partners are to be in new profit sharing
ratio taking old partners total capital as base after adjustment.Actualcash
is to paid off or brought in by the partners for adjusting their capital
accpount prepare
1. Revalution A/c2. Partners capital A/c and Balance sheet after Annu’s
admission