Class-11
Accountancy
* Important question which all are related to the upcoming Final Exam
Based on :- NCERT,CBSE
Question 1
Which account are not considered will prepairing that trial balance?
Answer:-
Non-Balance Account
Question 2
Name the process of transferring entries from journal to their respective account in the ledger?
Answer:-
Posting
Question 3
What will be the rate of depreciation is the assets was purchase for ₹ 80000 with a salvage value of ₹ 10000 at and of it useful life of 7 years.
Answer:-
12.5% p.a
Question 4
Which of the following branches of accounting help overcome one of the limitation of accounting, that is ignored the effect of price level change?
Answer:-
Inflation Accounting
Question 5
Why are rule of debit and credit same for both liability and Capital
Answer:-
By Business Entity Concept (Business separate from owner)
Question 6
Mr. Karan accountant at M/s Das and Das follows different methods of inventory valuation every year. Which is following attributes of Accounting Information would be affected due to practice adopted by Karan above?
Answer:-
Comparability
Question 7
which document is ever dancing for credit granted name person for the reason started therein ?
Answer:-
Credit Note
Question 8
Wage is paid for installation of newly purchased machinery are debited to wages account. Such type of error is known as
Answer:-
Error of Principal
Question 9
Prepare accounting equation on the basis of the following information and make the balance sheet of M/s Monu.
1.Monu started business with cash ₹1,00,000
2.Opened a bank account and transfer ₹4,00,000 from his saving account.
3.Purchased a building from sohan for 12,00,000 paid by taking a loan from SBI ₹10,00,000.
4. Paid interest on loan ₹20000 and installment of ₹ 10,0000.
5.He sold goods costing ₹25,000 at profit 20% above cost and half of the payment received in cash and received a bill for the remaining balance.
6.he paid salary ₹10,000 , commission ₹2,000 and commission still outstanding ₹1000.
7. He received cash on the maturity bill.
8. Interest on capital s to be credited at 5 p.a
Answer:-
Question 10
Paas the Journal entries relating to Mr.X for the month of January 2020, and post into ledger make trial balance.
Jan 1 Started business with 20,000 and furniture 4,000
Jan 2 Salary outstanding for the month 5,000.
Jan 5 Goods costing 5000 were given as charity, which were purchased after payment of CGST and SGST @5% each
Jan 7 Ram was allowed rebate of 5,000 due to poor quality of goods, sold to him (CGST and IGST @ 6% each)
Jan 10 Provide interest on capital of 1,00,000 @10% per Annum.
Answer:-
Journal
Ledger Posting
Question 11
Prepare Double Column Cash Book for the month of June 2019 ,from the following transaction:-
June 1 Cash in hand 1,440 overdraft at bank 18,000.
June 4 Capital introduce 24000 of out of which 30,000 is by cheque and is deposited in the bank.
June 5 Purchased goods from Tanu Traders , Jaipur for 3600 CGST and SGST @6% each. The amount was paid by cheque.
June 6 Sold good to Naresh on credit 6000 plus SGST and CGST @ 6% each.
June 26 Withdraw from bank ₹3600
June 29 Trupti, who owed 480 became insolvent and paid 60 p.a in a rupee.
June 30 Received repayment of a loan advanced to sunny 3600 and deposited out of its 3000 into the bank.
June 30 Interest Debited by the bank 450
June 30 Deposited with the bank the entire balance after retaining ₹2400 at office.
Answer:-
Question 12
1. Pass book showed credit balance of 15000 on 31st December 2020 .
2. On 28th December cheque had been issued for 50,000 of which cheque worths 6000 only had been in encashed upto 31st december.
3. Cheque amount to 4,500 had been paid into the bank for the collection but out of these only 1,000 had been credited the pass book.
4. A cheque of 4,000 to Mr.Rahim was taken in the cash book.
5. A cheque of 15,000 was paid into bank but was omitted to be entered in Cash book.
6. Bank receive 200 as interest as debentures but number information being sent to the customer.
7. A bill for 10,000 discounted with the bank was dishourned on maturity. Bank has debited Natarajan with 10,100 including 100 for noting charges, the transaction has not yet been record in Cash book.
8. Total of credit bside of bank coloum of Cash Book was uundercasted by 1,000 by mistake
9. It was also found that the total of 1 page on the payment side of the Cash book was 4,520 but it was written on the next page as 5,420.
Prepare the BANK RECONCILIATION STATEMENT as per PASS BOOK.
Answer:-
Question 13
Prepare the Transfer Voucher:-
Depreciation on charged on building @ 10% on 2,00,000
Answer:-
Only Cover Doubt-full Transaction or Particular.
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