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HALF YEARLY EXAM (2018-19)ACCOUNTANCY (SET-A)CLASS-XITime allowed: 3 Hrs M. M: 90GENERAL INSTRUCTIONS:Attempt all the questions.Marks are indicated against each question.Show your workings clearly.This question paper contains 22 questions._________________________________________________________________________________Q1Name any four external users of accounting information.(1)Q2Distinguish between Revenue Expenditure and Capital Expenditure.(1)Q3If the accounting information is not clearly presented which of the qualitative characteristic of the accounting information is violated.(1)Q4On 25th March 2017 a fire broke out in the premises of Kamal Limited and destroyed a part of its plant and machinery. On account of this a sharp decline in the production for the next six months is expected. The company did not exposed this fact in it annual reports for the year ended 31st Marc 2017. What is your opinion about this omission?(1)Q5Name the sub division of journal.(1)Q6Distinguish between journal and ledger.(1)Q7Define Voucher.(1)Q8Depreciation charged on machinery, name the accounting voucher to be prepared. (1)Q9What is a debit note?(2)Q10 What do you mean by Contra Entry? Give examples. (2)Q11The following transaction took place in Poorva Electricals, Delhi:(3)2018Jan 10Bought electrical goods for Rs 10,000 paid CGST & SGST @6% eachagainst cash vide cash memo no.338Prepare necessary Accounting Voucher for the above.Q12 Vini a consultant during the financial year 2017-18 earned Rs 8,00,000. Out of which he received Rs 7,50,000. He incurred expenses of Rs 2,40,000; out of which Rs 80,000 were outstanding.He also received consultancy fee relating to previous year Rs 90,000 and also paid Rs 40,000 expenses of last year.You are required to calculate his income for the year if he follows cash basis of Accounting. (3) Q13What do you mean by GST? Give three advantages of GST.(4)Q14 Explain the process of Accounting? (4)Q15Explain the following Accounting terms with example:(4)Revenue b) Trade payablesCost of goods sold d) Turnover Q16.Fill in the missing figure assuming CGST & SGST @9% each.(6)Journal of AshokDateParticularsL.F.AmountDr.AmountCr.2018Apr 5..................A/cDr...................A/cDr...................A/cDr.To Bank A/c(Purchase of goods within the state).......................................3,54,000Apr 19Debtors A/cDr. To Sales A/c To ................ To ................(Sale of Goods within the state).......................7200...........Apr 20..................A/cDr...................A/cDr.Input SGST A/cDr.To Bank A/c(Purchase of a computer within the state)........................4500...........Q17.Prepare a Trail balance from the following balances of Keshav Chand as at 31 Mar, 2018.(6)Name of AccountRsName of AccountRsOpening StockPurchasesPurchase returnSaleSalarySales returnCommission receivedAdvertisementDiscount receivedFurniture5600085000500016000069006200144088071068000CreditorsBills receivableCash in handBank overdraftBills payableInterest on overdraftCapitalDrawingInput IGSTOutput IGST1275046001122010000250018005000078001000016000Q18 Explain the following Accounting Concepts: (6)Consistency b)Revenue Recognition Q19 Journalise the following in the books of Ganguly & Sons of West Bengal, assume CGST & SGST @6% each :Received Rs 780 from Saurabh in full Settlement of Debt of Rs 800.Issued a Cheque of Rs 7500 to M/S Karan Timber Company on a/c of Purchase of Timber.Goods sold costing Rs 6,000 to M/S Ramesh & Sons, of Delhi at an invoice price 10% above cost less 5% Trade Discount.Paid Rs 1000 as wages for installation of a Machine. Sold his bike for Rs 50,000 and proceed were deposited in current account.Good given as charity Rs 1,000(6)Q20 Write up the following Transactions in cash book with bank column:2017Dec 1Balance in hand Rs 400 and overdraft at bank Rs 26,000.Dec 3Received two cheques from Brijesh of Rs 500 each one is crossed and other bearer.Dec 5Bearer cheque of Brijesh is handed over to Patel in full settlement of Rs 556.Dec 8Crossed cheque is returned as dishonoured by bank.Dec 13Drew from bank for office use Rs 3000.Dec 21Banked all cash, keeping a balance of Rs 400 only in hand. (8)Q21 Prepare Accounting Equation and Balance Sheet from the following transactions:Commenced business with Cash Rs 5,00,000 and Plant & machinery for Rs 2,00,000Charge Depreciation on Plant & Machinery @15% p.a.Purchased goods from Ram & Sons for Rs 10,000 by accepting a bill payable for 3 months.Paid to Creditors in full settlement Rs 9,800.Received Security Deposits from Tenants Rs 20,000.Interest Accrued Rs 5,000. (6+2)Q22 Post the following Transactions of Zara Bros. of Gujarat to the ledger and also prepare Trial Balance on 30th April 2017. On 1st April, 2017 following were Ledger balances of Zara Bros.(20)Cash in hand 3000, Bank 7000, bills payable- 10,000, Kapil (Dr.) 8,000,Stock 40,000, Govind (Cr.) 10,000.2017April 2 Bought goods from Gobind of Ahmedabad Rs 9,000.April 5 Sold goods to kapil of Delhi Rs 10,000.April 7 Paid Govind by Cheque Rs5,000.April 15 Received from Kapil by Cheque Rs 2000 and allowed him discount Rs 50April 18 Cash sales Rs 30000 to Ahmed Bros. of BhujApril 21 Paid Salary Rs 10,000.April 25 Withdrew for personal use Rs 5,000.April 28 Paid Govind cash Rs 2,000 and Dis. Received Rs 200.(CGST & SGST @6% each applicable)HALF YEARLY EXAM (2018-19)ACCOUNTANCY (SET-B)CLASS-XITime allowed: 3 Hrs M. M: 90GENERAL INSTRUCTIONS:Attempt all the questions.Marks are indicated against each question.Show your workings clearly.This question paper contains 22 questions._________________________________________________________________________________Q1Give one point of difference between Book Keeping and Accounting.(1)Q2Distinguish between Trade Discount and Cash Discount.(1)Q3Name the various books of original entries.(1)Q4Give two advantages of ledger. (1)Q5Confidence and trust that the reported information is the reasonable presentation of the actual items and events, that have occurred, depicts which qualitative characteristic of accounting information. (1)Q6A company have been charging depreciation @ 10% per annum on original cost method. Company wants to change the method from original cost to diminishing balance method. Can it do so?(1)Q7Name two source documents.(1)Q8Discount allowed to debtor, name the accounting voucher to be prepare.(1)Q9What is credit note?(2)Q10 Cash book is a subsidiary book as well as principal book. Justify. (2)Q11 Vini a consultant during the financial year 2017-18 earned Rs 8, 00,000. Out of which he received 7, 50,000. He incurred expenses of Rs 2, 40,000; out of which Rs 80,000 were outstanding.He also received consultancy fee relating to previous year Rs 90,000 and also paid Rs 40,000 expenses of last year.You are required to calculate his income for the year if he follows accrual basis of Accounting.(3)Q12The following transaction took place in M/s Gupta Leather Store, Agra:(3)2018Jan 12Sold leather purse worth Rs 15000 against cash vide cash memo no.317 CGST & SGST @6% each applicablePrepare necessary accounting voucher for the above.Q13Name the goods and services which are exempt from levy of GST.(4)Q14 Explain the limitations of Accounting? (4)Q15 Explain the following Accounting terms with example:Sales b) Trade receivableInsolvent d) Gain (4)Q16 Journalise the following in the books Gyan Chand of M.P., CGST & SGST @6% each : (6)2018May 1Rohit who owed Rs 8000 has declared insolvent and 60 paisa in a Rupee is recovered.May 4Out of insurance paid Rs 3000 is related to next year. May 5Bought goods at the list price of Rs 50000 from Soham of U.P. less 20% trade discount and 2% cash discount and paid 40% by cheque.May 8Goods damaged by floods Rs 40000 and insurance co. accepted claim of Rs 35000.May 10Goods given as free sample Rs 2000May 12Rs 5000 allowed as interest on capital Q17 Explain the following Accounting Concepts: (6)verifiable objective b) conservatism Q18.Fill in the missing figure assuming CGST & SGST @9% each.(6)Journal of AshokDateParticularsL.F.AmountDr.AmountCr.2018Apr 5..................A/cDr...................A/cDr...................A/cDr.To Bank A/c(Purchase of goods within the state).......................................3,54,000Apr 19Debtors A/cDr. To Sales A/c To ................ To ................(Sale of Goods within the state).......................7200...........Apr 20..................A/cDr...................A/cDr.Input SGST A/cDr.To Bank A/c(Purchase of a computer within the state)........................4500...........Q19.Prepare a Trail balance from the following balances of Keshav Chand as at 31 Mar, 2018.(6)Name of AccountRsName of AccountRsOpening StockPurchasesPurchase returnSaleSalarySales returnCommission receivedAdvertisementDiscount receivedFurniture5600085000500016000069006200144088071068000CreditorsBills receivableCash in handBank overdraftBills payableInterest on overdraftCapitalDrawingInput IGSTOutput IGST1275046001122010000250018005000078001000016000 Q20 Prepare Accounting Equation and Balance Sheet from the following transactions:Commenced business with Cash Rs 4,00,000 and goods Rs 30,000.Sold goods for cash costing Rs 10000 and on credit Rs 15000 both at a profit of 20%.Wages due but not paid Rs 2000.Purchased motorcycle from Honda and company for Rs 1,00,000Received cash from debtors.Paid for stationary Rs 500. (6+2)Q21 Write up the following Transactions in cash book with bank column:2018Feb 1Balance in hand Rs 800 and overdraft at bank Rs 52,000.Feb 3Received two cheques from Brijesh of Rs 1000 each one is crossed and other bearer.Feb 5Bearer cheque of Brijesh is handed over to Patel in full settlement of Rs 1112Feb 8Crossed cheque is returned as dishonoured by bank.Feb 13Drew from bank for office use Rs 6000.Feb 21Banked all cash, keeping a balance of Rs 800 only in hand. (8)Q22 Post the following Transactions of Ram Lal & Sons of Haryana to the ledger and also prepare Trial Balance on 30th April 2017. On 1st April, 2017 following were Ledger balances of M/S Rohan & Co.(20)Cash in hand 1500, Bank 3500, bills payable- 5,000, Kapil (Dr.) 4,000,Stock 20,000, Govind (Cr.) 5,000.2017April, 2 Bought goods from Gobind of Rohtak Rs 4500.April 5 Sold goods to kapil of Delhi Rs 5,000.April 7 Paid Govind by Cheque Rs 2500.April 15 Received from Kapil by Cheque Rs 1000 and allowed him discount Rs 25April 18 Cash sales Rs 15000 to Vishal Brothers of RewariApril 21 Paid Salary Rs 5000.April 25 Withdrew for personal use Rs 2500.April 28 Paid Govind cash Rs 1,000 and Dis. Received Rs 100.(CGST & SGST @6% each applicable) ................
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