11:01 AM
Shree
Shanti secondary school
The Send-up Examination -2075
Time: 3:00 hrs Grade XI Full Marks: 100
Subject: Accountancy
 |
Candidates
are required to give their answer in their own words as far as practicable. The
figures in the margin indicate full marks.
1.
Explain any three function of accounting.
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2.
Write in brief about money measurement concept
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3.
State the meaning of error of omission with
suitable example.
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4.
What is capital profit? Support your answer with
suitable example.
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5.
Write any two importance of capital reserve.
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6.
Mention any three objectives of present
accounting system of Nepal.
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7.
Differentiate government accounting with
business accounting.
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8.
Following transactions are given.2
Jan.1: commence business with bank balance Rs.
150,000
Jan.2: goods purchased Rs. 60,000.
Jan.3: salary paidRs.6,000 and outstanding Rs.
4,000.
Jan.4: cash withdrawn from bank Rs.10,000.
Required: accounting equation
9.
Following transactions are given. 2+2
Asar.1: sold goods on cash Rs. 25,000 and
on credit Rs. 15,000.
Asar.2: sold furniture of Rs. 7,000 for Rs.
6500.
Asar.3: cash paid to Ram Rs. 9,000 for full
settlement of his account of his account of Rs. 10,000.
Asar.4: sold goods to Rohan worthRs. 3500.
Required: (1) journal entries (2) sales account
10.
Following are the transactions related to sales. (2)
(A)
Sold to
kusum provision store kalimati
200 kg rice @Rs.55 per kg.
300 kg of basmati rice @Rs.100 per kg
Trade discount @10%
(B)
Sold to balaji suppliers kumaripati
50 kg Dal @ Rs. 100 per kg 12% trade discount
300 packet Garam masala @Rs. 30 each
Required: sales book
11.
The following cash and banking transactions are
given. 6
March 1:
opening cash balance (Dr.) Rs. 20,000 and bank balance (CR.) Rs.60,000.
March 5:
goods purchase for Rs.30,000 and payment made by cheque and cash
equally.
March 10:
cheque received from RumaniRs.24500 for full settlement of his account
of Rs. 25,000.
March 15:
cheque of Rumani deposited into bank
March 20:
salary paid Rs. 12,000 and interest received Rs. 10,000.
Required: Triple column cash book
12.
Following information are given. (6)
a)
Pass book
showed a Dr. Balance of Rs. 70,000 on ending of January.
b)
Cheque of Rs. 22,000 issued during the month of
January but cheque of Rs. 12,000 only presented for payment.
c)
Service charge Rs. 1500 only charged by bank but
not recorded in cash book.
d)
Cheque of Rs. 38,000 collected during the month
and sent for collection but only Rs. 18,000 credited by bank.
e)
A customer directly deposited in to bank Rs.
28,000 which is not entered in cash book.
f)
Debit side of cash book under cast by Rs. 2400.
Required: Bank Reconciliation Statement
13.
Given below is unadjusted trial balance of
business concern: ( 3)
|
Particulars
|
Debit (Rs)
|
Credit (Rs)
|
|
Capital
|
-
|
300,000
|
|
Sales
|
-
|
400,000
|
|
Purchase
|
350,000
|
-
|
|
Furniture
|
250,000
|
-
|
|
Stationery
|
50,000
|
-
|
|
Bank balance
|
100,000
|
-
|
|
Creditors
|
-
|
50,000
|
|
Total
|
750,000
|
750,000
|
Adjustment:
1. Depreciate furniture @15% p.a.
2.
Closing stock Rs. 12,500
Required: Adjusted Trial Balance
14.
The following is the trial balance of o firm for
the year ended December 2010. 15
|
Particulars
|
Debit (Rs)
|
Particulars
|
Credit(RS
|
|
Land
|
300,000
|
Capital
|
500,000.
|
|
Plant and machinery
|
200,000
|
15% loan
|
200,000.
|
|
Furniture
|
100,000
|
Sales
|
762,500.
|
|
Purchases
|
400,000
|
Commission
|
15,000.
|
|
opening stock
|
75,000
|
Creditors
|
150,000.
|
|
Wages
|
127,500
|
Bills payable
|
100,000.
|
|
Insurance
|
7,500
|
Provision for doubtful debts
|
5,000.
|
|
Debtors
|
120,000
|
|
|
|
cash in hand
|
80,000
|
|
|
|
Bills receivable
|
30,000
|
|
|
|
Salaries
|
157,000
|
|
|
|
Advertisement
|
37,500
|
|
|
|
Interest on loan
|
30,000
|
|
|
|
Drawing
|
30,000
|
|
|
|
Cash at bank
|
37,500
|
|
|
|
Total
|
1732,500
|
Total
|
1732,500
|
Additional information:
(I)
Market value of closing stock Rs. 170,000 and
book value Rs. 150,000.
(II)
Depreciation @15% on furniture and @10% plant
and machinery.
(III)
Appreciate land by 10%
(IV)
Bad debts written off Rs. 5,000.
(V)
Provision for doubtful debts@ 10% of debtors
(VI)
Salaries payable Rs. 5,000.
(VII)
Wages includes Rs. 5,000 paid for installation
of machinery.
Required:
a)
Trading account
b)
Profit and loss account
c)
Balance sheet
15.
On 1st Baishakh 2065, a trader
purchased three cars of Rs. 500,000 each. On 31st Chaitra 2066 he
sold first car for Rs. 500,000 and on 1st kartik 2067 purchased
another car of Rs. 800,000. Depreciation is charged on fixed installation
method @12% p.a. Accounts are closed on 31st Chaitra each year. (8)
Required: car account for 2065 to 2067
16.
On 1st January 2009 provision for doubtful
debts account showed a credit balance of Rs. 4,000. Bad debts during the year
was Rs. 5,000. Provision for bad debts at the end of the year maintained @10%
on debtors of Rs. 50,000.
Required: provision for doubtful debts
account. (2)
a.
Following is the balance sheet of a sports club
as on 31st December 2010. (10)
|
Liabilities
|
Amount
|
Assets
|
Amount
|
|
Capital
|
28,000
|
Furniture
|
10,000
|
|
Outstanding wages
|
3,000
|
Machinery
|
14,000
|
|
10% loan
|
8,000
|
Subscription due
|
6,000
|
|
|
|
Cash balance
|
9,000
|
|
Total
|
39,000
|
Total
|
39,000
|
Receipt and payment account for the year
ended 31st December 2011
|
Receipt
|
Amount
|
Payment
|
Amount
|
|
To balance b/d
|
9,000
|
By salaries
|
12,000
|
|
To subscription
|
|
By wages
|
4,000
|
|
2010
|
6,000
|
By rent
|
6,000
|
|
2011
|
24,000
|
By furniture
|
18,000
|
|
2012
|
4,000
|
By balance c/d
|
11,000
|
|
To donation
|
8,000
|
|
|
|
Total
|
51,000
|
Total
|
51,000
|
Additional information:
Outstanding subscription Rs. 1,200
40% donation to be capitalized.
Depreciation on machinery and furniture by
10% p.a.
Required: a) income and expenditure account
b) Balance sheet as on 31st
December 2011
17.
Mr. Thapaliya maintains his book of account on
single entry system. He submitted the following details: (2+2)
|
|
1st Shrawan 2066
|
31st Ashadh 2067
|
|
Cash
|
Rs. 50,000
|
Rs. 60,000
|
|
Equipment
|
40,000
|
40,000
|
|
Inventory
|
60,000
|
100,000
|
|
Debtors
|
10,000
|
25,000
|
|
Creditor
|
5,000
|
15,000
|
Additional information:
Mr. Thapaliya employed further capital of
Rs. 37,500 during the year and his drawing for the year were Rs. 17,500.
Depreciate equipment @12% p.a.
Reserve for doubtful debts maintained at 5%
on debtors.
Required:
I) closing statement of affairs
ii) Statement of profit and loss
18.
Following transaction of a government office are
given. (6)
|
Budget head
|
Annual budget(RS.)
|
Expenditure up to falgun (RS.)
|
Expenditure of Chaitra (RS.)
|
|
Salary
|
500,000
|
325,000
|
45,000
|
|
allowances
|
200,000
|
100,000
|
20,000
|
|
TADA
|
100,000
|
25,000
|
35,000
|
|
Communication charge
|
50,000
|
30,000
|
3,000
|
|
Office expenses
|
150,000
|
90,000
|
12,000
|
|
Furniture
|
65,000
|
50,000
|
_
|
|
Machinery and equipment
|
175,000
|
15,000
|
125,000
|
Additional information:
a)
Total revolving fund received Rs.950,000.
b)
Uncleared advance of machinery Rs.45,000.
c)
Cash balance Rs. 500.
d)
Loan payable to nearby office Rs.25,000.
Required: statement of expenditure
for the month of Chaitra.
19.
The following information are given (6)
a)
Credit balance as per cash book Rs.15,000.
b)
Cheque issued but not presented for payment
Rs.5,000.
c)
Bank charges directly debited by bank Rs.1,000
d)
Debit site of cash book overcastted by Rs.6,000.
e)
Cheque deposited but not credit by the bank
Rs.4,000.
f)
Insurance premium paid by bank Rs.500.
Required: bank reconciliation statement.
20.
Prepare machinery account from the following
information (8)
1.1.2008 purchase a machinery for Rs.200,000.
1.7.2009 purchase a second machinery for
Rs.250,000.
31.12.2010 first machinery sold for Rs.120,000.
31.12.2010 purchased a third machinery for
Rs.150,000.
The depreciation is to charge @10% p.a. on
diminishing balance method.
Required: machinery account from 2008 to
2010.
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