LOTUS VALLEY INTERNATIONAL SCHOOL, NOIDA ANNUAL EXAMINATION (2022-23) SUBJECT- ACCOUNTANCY (053) Name: Tivo, Roll No 23, Date: 30" J ate: 30" January, 2023 Shows co XI Se: haga” Mae Makar [© This question paper has 1Oprinted sides. # This question paper consists of 34 questions. General Instructions: ‘All questions are compulsory. © This question paper is divided into two parts- A and B. Each partis compulsory However. there are internal choices in some questions. © Questions | to 16 and 27 to 30 carry | mark each © Questions 17 t0 20, 31 and 32 carry 3 marks each © Questions 21, 22 & 34 carry 4 marks each © Questions 23 to 26 and 33 carry 6 marks each = There is no overall choice. However. an internal choice has been provided + Tidy work and appropriate numbering of answers would be appreciated. Best of Luck! PART A. 1. Which of the following need not to be recorded in the books of business? (a) Withdrew Rs 10,000 from business for personal use by the proprietor (b) Proprietor Withdrew Rs.20,000 from the Bank Account of the firm to pay the school fees of his son, (c) Proprietor withdrew Rs, 12,000 from his personal account to pay the schoo! fees of his son, (4) Goods taken worth Rs.3.000 for personal use. 2, Amount due from Krish (Debtor) Rs.50,000 and received a cheque from him in full 1 and final settlement of his account after discount of 2%, which is deposited the same day. Identify the correct entry from the following: (a) Krish’s A/e Dr, 50,000 To Discount Received A/c 1,000 To Bank Ac 49,000 (b) Bank A/c Dr 49,500 Discount Allowed A/c Dr, 500 To Krish 50,000 (c) Bank A/c Dr 49,000 Discount Allowed A/c Dr, 1,000 To Krish $0,000 (d) Krish’s A/c Dr. 50,000 To Discount Received A/c 500 To Bank Alc 49.500 J he following expenses were incurred by petty cashi he month — post F1.200; conveyance R's 500: Sundries RS1.700, Imprest amount is Rs 8,000. What ‘ll be the amount of reimbursement’? Page 1 of 10(2) Rs 5,600 (b) Rs 8.000 (6) Rs 3.400 (@) Rs 2,000 Match withthe books of orginal entries where these transaction are 10 be recorded | Ser cm | | |-Goods purchased from Mr. X on | (a) Sales return Book credit | 2. Defective pods sold to Veena on | (B) Journal Proper credit retuned by her 3. Purchased furniture “4. Closing Entries (@) Purchase Book [ARE eee | Les | (A) HA), 24), 340). 4-0) (B) 14d), 24a). 340) 4.46) (©) Hb), 24a), 344), 446) (D) 146), 2a), 34), 444) | (©)Cash Book] oR ‘Match the transactions given in List I with its impact given in List II Desription (La ‘Option (List 1) er a [1 Bank Coan paid — Gr Expenes Dares | | Purchases Reta 1B Cab Decrees 3. Rent Outstanding (©) Liability z 500 Rent 800 ma} Rent outstanding 300 as __}ze000 — ; PS ead Creditors fo ae ee ea Advertisement Expenses = ri 900 a | E 400 Bills Receivable " 1950 Cash in Hand 14.400 Sales a oo ‘additional information i, Stock on 31.3.2019 was valued at Rs 18.000 ii, The manager is entitled to a commission of 10% of the net profit calculated after charging such commission, ili, Further bad Debts of Rs 600. Inerease provision for doubtful debis hy Rs 2,400. Also create provision @ 5% for discount on debtors iv, Stock valued at Rs 1,500 was destroyed by fire on 26.3.2019, Insurance ‘company admitted a claim of Rs 950 only ¥. Rs 200 out ofthe advertisement expenses are to be carried forward to the next year. You are to prepare Trading and Profit and Loss Account for the year ending on 313.2019, 34, You are to prepare Balance Sheet of Mr X from the details given in the Q83, 4 Page 10 of 10