ambience acdmy

Date : 24-01-2024 STD 11 Commerce Account Total Marks : 36

* questions of 4 marks each. [12]

1. Prepare Accounting Equation on the basis of the following transactions:
i. Started business with cash ₹ 70,000.
ii. Credit purchase of goods ₹ 18,000.
iii. Payment made to creditors in full settlement ₹ 17,500.
iv. Purchase of machinery for cash ₹ 20,000.
2. Prepare Accounting Equation from the following:
a. Started business with Cash ₹ 2,00,000.
b. Purchased goods for Cash ₹ 60,000 and on Credit ₹ 1,50,000.
c. Sold goods for Cash costing ₹ 40,000 at a profit of 20% and on Credit costing ₹
72,000 at a profit of 25%.
d. Paid for Rent ₹ 5,000.
3. Put the following on the proper side of Cash account, Debtor's account and Creditor's
account:
a. Sold goods for cash ₹ 60,000.
b. Sold goods to Hari on credit ₹ 20,000.
c. Purchased goods from Krishan on credit ₹ 36,000.
d. Purchased goods from Krishan for cash ₹ 10,000.
e. Cash received from Hari ₹ 15,000.
f. Cash paid to Krishan ₹ 28,000.

* questions of 6 marks each. [24]

4. Enter the following transactions in the Journal of Arun Govil & Co.
20
18
Jun Arun Govil & Co. paid into bank as capital ₹ 6,00,000.
e1
Jan Purchased goods from Mukesh of the list price of ₹ 2,00,000 at 10% trade discount.
e3
Jun One-fourth of the above goods returned to Mukesh for not being upto
e 4 specifications.
Jun Issued a cheque to Mukesh for the amount due to him after deducting 2% as cash
e 6 discount.
Jun Withdrew from bank ₹ 2,50,000 for office use and ₹ 10,000 for personal use.
e7
Jun Purchased a machinery for ₹ 1,00,000 and spent ₹ 5,000 on its installation.
e Payment for machinery was made by cheque and installation expenses were paid
10 in cash.
Jun Sold goods for ₹ 1,00,000 to Amar.
e
12
Jun Amar clears his account by giving a cheque of ₹ 98,500. Cheque is immediately
e sent to bank.
13

[1]
 Jun Purchased stationery for personal use ₹ 3,000 and for office use ₹ 5,000.
e
15
Jun Purchased land for ₹ 2,00,000 and paid 1% as brokerage and ₹ 15,000 as
e registration charges on it. Entire payment is made by Cheque.
20
Jun Wages due to labourers ₹ 20,000 and salary due to the clerk ₹ 30,000.
e
30

5. Journalise the following transactions:

20
18
Apr Purchased goods for ₹ 1,00,000 from Manoj and availed discount of ₹ 10,000
il 1
Apr Paid amount due to Manoj by cheque and availed discount of ₹ 4,500
il 2
Apr Cash ₹ 5,000 paid to Desai and discount allowed by him ₹ 200
il 5
Apr Cash ₹ 10,000 received from Govardhan and allowed him discount ₹ 500.
il
10
Apr Sold personal Car of the proprietor for ₹ 80,00 against cheque, which was
il deposited into the firm's bank account.
12
Apr Sold personal Car of the proprietor for ₹ 1,50,000 against cheque, which was
il deposited into the proprietor's personal bank account.
16
Apr Sold goods to Gaurav costing ₹ 1,00,000 at a profit of 40% and allowed him 10%
il trade discount and paid for cartage ₹ 3,000 not to be charged from him.
20
Apr Placed an order with Rudra & Co. for supply of goods of ₹ 80,000 and a cheque for
il 40% amount is sent to them as an advance.
24

6. Enter the following transaction in the Journal of Marutinandan Stores:

2017
Jan. Purchased goods from Ghanshyam of the list price of ₹ 50,000 at 15% trade
10 discount.
Jan. Returned goods to Ghanshyam of the list price of ₹ 2,000
13
Jan. Paid cash to Ghanshyam ₹ 40,000 in full settlement of his account.
15
Jan. Purchased goods from Raghu of the list price of ₹ 60,000 at 10% trade discount.
20
Jan. Returned goods to Raghu of the list price of ₹ 5,000
22
Jan. Paid cash to Raghu ₹ 49,000 in full settlement of his Account.
25

7. Journalise the following transactions:

[2]
1. Goods for ₹ 50,000 were destroyed by fire.
2. Goods worth ₹ 18,000 were distributed as free samples and ₹ 20,000 were
given away as charity in cash.
3. Goods worth ₹ 25,000 and cash ₹ 40,000 were taken away by the proprietor for
his personal use.
4. Goods worth ₹ 20,000 and cash ₹ 5,000 were given away as charity.
5. Cash ₹ 1,00,000 were stolen from the Iron Safe of the trader.

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