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Journal Test

The document contains 12 questions of varying marks related to accounting. It includes multiple choice questions, questions requiring journal entries to be passed for various business transactions, and questions asking to journalize transactions. The questions cover topics like cash discount, trade discount, capital, insolvency, bad debts, dividends and more.

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15 views3 pages

Journal Test

The document contains 12 questions of varying marks related to accounting. It includes multiple choice questions, questions requiring journal entries to be passed for various business transactions, and questions asking to journalize transactions. The questions cover topics like cash discount, trade discount, capital, insolvency, bad debts, dividends and more.

Uploaded by

Menu Garg
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Ambience Academy

Date : 23-12-2023 STD 11 Commerce Account Total Marks : 35


accountancy

* Choose The Right Answer From The Given Options.[1 Marks Each] [6]
1. Out of the following which is a trade discount and which is a cash discount?
a. Anil has purchased 1,000 pieces of Add Roller Pen and therefore entitled to
discount of ₹ 15,000.
b. Anil has paid the amount due towards the above purchase within 7 days and
therefore, entitled to discount @ 2%.
2. Cash Discount received is recorded in the books of account as follows:
a. Cash Discount is credited to Discount Received Account.
b. Cash Discount is reduced from the Invoice Price.
c. None of the above.
d. Any of (a) and (b).
3. A withdrawal of cash from business by the proprietor is credited to:
a. Drawings A/c.
b. Capital A/c.
c. Cash A/c.
d. None of these.
4. Trade Discount received on purchases is recorded in the books of account as follows:
a. Trade Discount is credited to Discount Received Account.
b. Trade Discount is deducted from the Invoice Price and recorded at net value.
c. None of the above.
d. Any of (a) and (b).
5. Which of the following accounts will be credited on giving cash donation:
a. Cash A/c.
b. Donation A/c.
c. Purchases A/c.
d. None of these.
6. Journal is called a book of:
a. Primary entry.
b. Secondary entry.
c. Final entry.
d. None of these.

* questions of 3 marks each. [3]


7. On 1st April, 2019, the position of Tendulkar was as follows: Stock-in-Hand ₹ 2,88,000;
Bills Payable ₹ 48,000; Cash at Bank ₹ 2,16,000; Plant and Machinery ₹ 1,20,000;
Debtors ₹ 60,000; Creditors ₹ 96,000; Investment ₹ 2,40,000, Loan from Suresh ₹
1,80,000. What was the amount of Tendulkar's capital on the date? Pass an opening
Journal entry.

* questions of 4 marks each. [8]

[1]
8. Pass Journal entry for purchase of goods by Amrit, Delhi from Add Gel Pens, Delhi for ₹
15,000 less Trade Discount 10% and Cash Discount 3%. CGST and SGST is levied @ 6%
each. Assume payment is made at the time of purchase.
9. Journalise the following transactions:
₹
( Shyam became insolvent. A first and final compensation of 75 paise in a 50,0
a rupee was received from his official receiver. He owed a debt of 00
)
( Received cash for a bad debt written off last year 25,0
b 00
)
( Rent due to landlord 40,0
c 00
)
( Depreciation on office furniture 5,00
d 0
)
( Salaries due to staff 50,0
e 00
)
(f Paid income tax 1,50,
) 000
( Received commission ₹ 25,000, half of which is in advance.
g
)

* questions of 6 marks each. [18]


10. Journalise the following entries:
i. Goods costing ₹ 500 given as charity.
ii. Sold goods to Mayank of ₹ 1,00,000, payable 25% by cheque at the time of sale
and balance after 30 days of sale.
iii. Received ₹ 975 from Harikrishna in full settlement of his account of ₹ 1,000.
iv. Received a first and final dividend of 60 paise in a rupee from the Official
Receiver of Rajan, who owed us ₹ 1,000.
v. Charge interest on Drawings ₹ 1,500.
vi. Sold goods costing ₹ 40,000 to Anil for cash at a profit of 25% on cost less 20%
trade discount and paid cartage ₹ 100, which is not to be charged from
customer.

11. Journalise the following transactions:


₹
Shyam became insolvent. A first and final compensation of 75 paise in a rupee 10,
(i
was received from his Official Receiver. He owed us 00
)
0
(i Received cash for bad debts written off last year. 5,0
i) 00
(i Rent due to landlord. 8,0
ii 00
)

[2]
(i Salaries due to clerks. 10,
v 00
) 0
( Placed an order with Rakesh Mohan for the supply of goods of the list price of ₹
v 1,00,000. In this connection, Raman paid 10% of the list price as an advance by
) cheque.

12. Journalise the following transactions in the books of Ashok:


i. Received ₹ 11,700 from Hari Krishan in full settlement of his account for ₹
12,000.
ii. Received ₹ 11,700 from Shyam on his account for ₹ 12,000.
iii. Received a first and final dividend of 70 paise in the rupee from the official
receiver of Rajagopal who owed us ₹ 7,000.
iv. Paid ₹ 2,880 to A.K. Mandal in full settlement of his account for ₹ 3,000.
v. Paid ₹ 2,880 to S.K. Gupta on his account for ​₹ 3,000.

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