Material downloaded from http://myCBSEguide.com and http://onlineteachers.co.in …

Material downloaded from http://myCBSEguide.com and http://onlineteachers.co.in Portal for CBSE Notes, Test Papers, Sample Papers, Tips and Tricks CBSE TEST PAPER-01 Class - XI Accountancy (FS of Sole Proprietorship: From Complete and Incomplete Records) Topic : Final Accounts (Without Adjustments) 1. Give one definition of Financial Statement. [1] 2. Name the internal users of Financial Statements. [1] 3. Name the external users of Financial Statements. [1] 4. Give definition of Trading Account. [2] 5. Calculate the value of Opening Stock from the following: Particulars Amount Particulars Amount Cash sales Credit Sales Sales Return (out of credit sales) Purchase Return 40,000 1,65,000 5,000 4,000 Closing Stock Purchases Carriage inwards Rate of Gross Profit 36,000 1,24,000 8,000 40% of sales Show your working clearly. [4] 6. Following balances are taken from the Trial Balance of Shri Vinod Kumar, you are required to prepare Trading Account and Calculate Gross Profit. Particulars Amount Particulars Amount Opening Stock Purchases Purchases Return Sales Sales Return 10,000 2,15,000 8,000 4,80,000 11,000 Wages Carriage inwards Factory rent Freight Octroi 21,000 9,000 15,000 12,000 3,000 Show your working clearly. [4] 7. From the following balances prepare Trading Account, P/L Account and B/S. Particulars Debit Credit Capital Purchase and Purchase Return Sales and Sales Return Debtors and Creditors Discount Opening Stock Repair and Renewals Wages Carriage outward Machinery -- 60,000 1,000 8,000 100 500 400 700 400 16,000 25,000 2,000 80,000 4,000 300 -- -- -- -- -- [6] Book Recommended by author : ULTIMATE BOOK OF ACCOUNTANCY (By Dr. Vinod Kumar, Vishvas Publications)

Features of accounting ?

Chapter 3 question number 21

Illustration 62. Given below is the Balance Sheet of Krishna & Suresh who are partners in a firm sharing profits in the ratio of 3 : 2: Liabilities Amount Creditors Bank Overdraft Investment Fluctuation Fund Contingency Reserve Capital A/c : Krishna Suresh 30,000 20,000 21,000 2,000 6,000 5,000 50,000 84,000 Assets Plant Patents Furniture Investments (Market value Stock Debtors Cash 14,000) Amount (₹) 30,000 5,000 3,000 15,000 13,000 17,000 1,000 84,000 Mohan is admitted as a partner for 1/5th share on the following terms: (a) He is to contribute 14,000 as his share of capital which includes his share of premium for goodwill. (b) Goodwill is valued at 2 years' purchase of the average profits of the last 4 years, which were 10,000; 9,000; 8,000 and 13,000 respectively. (c) Plant to be written down to 25,000 and patents written up by * 8,000. Prepare the Revaluation Account, Partners' Capital Account and the Balance Sheet of the new firm.​

Started business with cash RS 90000 stock 30,000 Purchase परचेज फर्नीचर परचेज फर्नीचर फॉर कैश फॉर कैश 15000 में चेक पैड कैरिंग चार्ज रुपीस 1000 इन कैश सोल 1 की 2 का अबोव स्टॉक तो राम ऑन क्रेडिट रिसीव फ्रॉम राम आफ्टर ए डिस्काउंट का 200 रेंट पैड रुपीस 7000 आउट ऑफ़ व्हिच 2000 इस प्रिपेयर्ड

Accounting equation practical problem so Accounts

Paid cash to kamlesh rs 15000

Show the Accounting equation for the following transaction (i)Gopinath started business with cash

Mohan is admitted as a partner for 1/5th share on the following terms: (a) He is to contribute 14,000 as his share of capital which includes his share of premium for goodwill. (b) Goodwill is valued at 2 years' purchase of the average profits of the last 4 years, which were 10,000; 9,000; 8,000 and 13,000 respectively. (c) Plant to be written down to 25,000 and patents written up by * 8,000. Prepare the Revaluation Account, Partners' Capital Account and the Balance Sheet of the new firm.

What is bad depts and how we can show in journal and ledger

Goods of the selling price of 3000 are further withdrawn by Sonia for personal use 20% of cost is added to fix up the selling price