Professional Documents
Culture Documents
Second Periodic Examination 2019
Second Periodic Examination 2019
2. Accrued Income is : 1
(a) A liability (b) Revenue
(c) An Asset (d) An Expense.
Balance Sheet
as at 31st March 2019
Liabilities ₹ Assets ₹
Bills Payables 3500 Cash In Hand _____
Sundry Creditors Cash At Bank 25000
____
O/s Salaries 1000 Sundry Debtors
20100
Capital Less Further B/D
______ ____
Add Net Profit
_____ 85562 _____
Less Provision for
Bad & D/Debts
____
____
Less Provision For
Dis. On Debtors _______
___
Closing Stock _______
Furniture
7000
Less Dep. ______
700
Building
______
Less Dep. 42750
2250
118062 118062
--------- ---------
-
OR
Prepare Trading and Profit & Loss a/c of M/S Green Club Ltd. For the
year from the following figures taken from his trial balance:
Debit balances ₹ Credit balances ₹
Opening Stock 125000 Sales 250000
Purchases 35000 Purchases Returns
6000
Return Inward 25000 Creditors
55000
Postage 600 Capital
50000
Salary 12300 Discount received
1000
Wages 3000 Provision for D/Debts
4500
Rent and Rates 1000 Commission received
5400
Packing and Transport 500
General Expenses 400
Insurance 4000
Debtors 50000
Cash in hand 20000
Closing Stock 40000
Machinery 20000
Lighting 5000
Discount 3500
Bad- debts 3500
Investments 23100
371900 371900
--------- ---------
- --
Adjustments:-
(1) Depreciation charged on Machinery @ 5% p.a.
(2) Further Bad- debts ₹1500. Provision for discount on Debtors
@ 5% and Provision for doubtful debts on Debtors @ 6%.
(3) Wages prepaid ₹1000.
(4) Interest on Investments @ 5% p.a.
MARKING SCHEME
Question No. Answer Marks
1 b 1
2 c 1
3 a 1
4 Dual Aspect Principle 1
5 c 1
6 Excel and Tally 1
7 People who design data, write programs to implement 1
data and who participate in operating the computer are
known as Humanware.
8 (1) Closing stock a/c Dr.80000 1x3=3
To Trading a/c 80000
(2) Rent a/c Dr. 20000
Input CGSTa/c Dr 1200
Input SGSTa/c Dr. 1200
To O/S Rent a/c 22400
(3)Drawings a/c Dr 11200
To Purchases a/c 10000
To Input CGST a/c 600
To Input SGST a/c 600
2. 1
3. 1
4. 1
5. 1
6. 1
7. 1
8. 1
9. 1
10. 1
11. 3
12. 3
13. 4
14. 4
15. 5
16. 5
17. 6