21th August Returned to Asmita Books Distributors:

Gaindakot Namuna SS/College 20 piece Economics books @ Rs. 500 each

Second Internal Examinations -2078 [Less: Trade Discount @ 10%]
Required: (a) Sales return book [2]
Grade: 11 (MGMT) Full Marks:75
Time 3 hrs Subject: Account (1031) Pass Marks:27 [14] Following purchase related transactions are given:
1st July Purchased from Nabin, Biratnagar:
Candidates are required to give their answers in their own words as for as 40 Shirts @ Rs. 500 per shirt
practicable the figures in the margin indicate full marks. 30 Sweaters @ Rs. 1,000 per sweater
Section “A” [Less: 10% Trade discount]
Very Short Answer Questions. [11 x 1= 11] 5th July Purchase from Biraj on cash
[1] What is book-keeping? 100 Cap @ Rs. 100 per piece
[2] Describe any two function of accounting.
19th July Purchased from Subin, Kathmandu
[3] Write about accounting period concept.
[4] Write the meaning of double entry system. 10 Jeans Pants @ Rs. 2,000 per piece
[5] What is bank reconciliation statement? 20 Cotton Pants @ Rs. 500 per piece
[6] What do you mean by petty cash fund? Transportation cost Rs. 1,000
[7] Define trial balance. [Less: Trade Discount @ 10%]
[8] What is depreciation? 28th July Purchased a Sofa set of Rs. 25,000 on credit
[9] Write any two causes of depreciation. from Rabindra for office use.
[10] What is the purpose of preparing a bank reconciliation statement? Required: (a) Purchase book (b) Purchase A/c [3 + 2]
[11] Write the meaning of final account of a company.
Section “B” [15] Following cash & banking transactions are given to you:
Short Answer Questions. [8 x 5 = 40] Bhadra 1 Cash in hand Rs. 60,000, Balance at Bank Rs. 80,000. Bhadra 10 Goods
[12] A. State accounting process in brief. 3 purchased for Rs. 25,000
B. Journalize the following transactions in the book of Mr. A. 2 Bhadra 21 Interest received Rs. 5,000
Baishakh 1 Started business with cash Rs. 3,00,000. Bhadra 25 Deposited Rs. 10,000 into bank.
Baishakh 10 Goods purchased from ABC Traders of Rs. 15,000. Bhadra 28 Goods sold for Rs. 50,000 , Cash received Rs. 30,000
Baishakh 24 Received cheque of Rs.9,000 for interest income. and balance by cheque after deducting Rs. 1,000 discount.
Baishakh 28 Furniture of Rs. 10,000 sold to Hari on cash. Bhadra 30 Issued cheque of Rs. 9,500 to Rajan in full settlement of
his account of Rs. 10,000.
[13]A. Following transactions are given to you:
Required: Triple Column Cash Book. [5]
Shrawan 1 Purchased goods of Rs. 40,000 from Sundar.
Shrawan 9 Cheque of Rs. 30,000 issued to Sundar.
[16] You are required to prepare BRS from given information:
Shrawan 15 Again goods of Rs. 20,000 purchased from Sundar.
(a) Cheque sent for collection of Rs. 15,000 into bank, has not been credited by bank yet.
Shrawan 22 Goods of Rs. 5,000 returned to Sundar.
(b) Insurance premium Rs. 3,000 paid by bank as per instruction.
Shrawan 25 Paid Rs. 10,000 to Sundar.
(c) Cheque drawn and issued of Rs.8,000 omitted to record in cash book.
Required: (a) Journal entries (b) Sundar’s account [2 +1]
(d) Cheque printing charge Rs.400 recorded in pass book only.
B. Following purchase transactions are given:
(e) Receipt side of cash book overcast by Rs. 4,000
1st August Returned from Kamana Books: (f) Bank balance shown by Pass book Rs. 50,000 [5]
20 pieces of Account books @ Rs.800 each
10 dozens of pencil @ Rs. 8 per piece [17] Following transactions related to bank for the month of Baishakh are given to you:
[Trade discount @ 10% on book only] [a] Bank overdraft as per cash book Rs. 28,000
17th August Returned from Gandaki Books: [b] Issued cheque of Rs. 12,000 before Baishakh end but only presented for payment
100 piece of Note books @ Rs. 50 per piece Rs. 10,000
 [c] Interest on overdraft debited in pass book Rs. 1,000 [21] From the given transactions, prepare Journal entry, necessary ledgers and trial
[d] A customer directly deposited into bank Rs. 9,000 balance. [8]
[e] Wrongly credited in cash book for Rs. 2,000 Baishakh 1 Started business with cash Rs. 5,00,000
[f] A cheque sent for collection Rs. 4,000 omitted to record in cash book. Baishakh 8 Machinery purchased for Rs. 1,00,000.
Required: Bank Reconciliation Statement [5] Baishakh 15 Goods of Rs. 50,000 sold to Ranjan.
Baishakh 19 Deposited Rs. 25,000 into bank.
[18] On 1st January 2015, ABC Company purchased a Machinery for Rs. 75,000 and spent Baishakh 22 Returned goods of Rs. 10,000 from Ranjan.
Rs. 5,000 on its installation. On 1st April 2016, it purchased another Machine for Rs. Baishakh 28 Ranjan paid Rs. 39,000 in full settlement of his account.
1,00,000. On 30th June 2017, it sold the Machine which was purchased on 1 st January 2015
for Rs. 60,000 and purchased another Machine for Rs. 50,000 on same date. [22] Trial balance of a trader as on 31st December, 2019 is given below:
Required: Prepare Machinery account in the books of ABC Company for first 3 years if the Particulars Debit Particulars Credit
company charges depreciation @ 12% p.a. on Straight Line Method. Accounts are closed on Opening stock 20,000 Capital 2,00,000
31st December each year. [5] Machinery 1,00,000 Sales 5,50,000
Salaries 50,000 Purchase return 17,000
[19] The following transactions related to furniture are given to you: Rent 40,000 Creditors 40,000
1st January 2001 Purchased furniture for Rs. 40,000 Commission 10,000 Bank loan 1,00,000
1st July 2001 Additional furniture purchased for Rs. 60,000 Cash 80,000 Discount 13,000
31st December 2003 Furniture purchased on 1 st January 2001 has been sold for Rs. Debtors 75,000 Bills payable 20,000
29,000 and purchased new furniture for Rs. 50,000. Carriage inwards 5,000 Provision for bad debt 7,000
Required: Furniture account for year 2001 to 2003, assuming rate of depreciation is 10% Purchase 2,20,000
under Written Down Value Method and accounts are closed on 31st December each year. Advertisement 18,000
[5] Sales return 14,000
Section “C” Insurance 9,000
Long Answer Question. [3 x 8 – 24] Interest on loan 7,000
[20] Trial balance of A Suppliers as on 30th Chaitra, 2075 is given below: Drawings 12,000
Particulars Debit Rs. Particulars Credit Rs. Bad debt 4,000
Salaries 30,000 Gross profit b/d 3,05,000 Goodwill 30,000
Insurance 20,000 Bank loan 28,000 Printing expenses 22,000
Machinery 2,00,000 Creditors 65,000 General expenses 11,000
Rent 45,000 Sundry income 18,000 Investment 90,000
Cash 1,00,000 Provision for bad debt 4,000 Land and building 1,30,000
Debtors 80,000 Capital 1,75,000
Investment 50,000 Total 9,47,000 9,47,000
Interest 10,000 Required: (a) Trading account (b) Profit and Loss account (c) Balance Sheet
Advertisement 15,000 [2 + 3 + 3]
Furniture 40,000
Discount 5,000 ***The End***

5,95,000 5,95,000
Additional information:
(a) Depreciation on machinery @ 10% p.a.
(b) Rent outstanding Rs. 5,000
(c) Bad debt written off Rs. 3,000
(d) Prepaid salary Rs. 7,000
Required: (a) Profit and Loss account (b) Balance Sheet [4+4]