Kendriya Vidyalaya Afs Sulur

KENDRIYA VIDYALAYA AFS SULUR

HOLIDAY HOME WORKS (DECEMBER-2017)

CLASS XI (ACCOUNTANCY)

1. Calculate the due dates of bills in the following cases:

Serial No: Date of bill Period

1 5th January 2 months

2 1st April 30 days

2.M purchases goods from N for Rs.190000 on March 15,2010 and accepts a bill for the amount. The bill is payable after 3 months. M met the bill on April 18 and was allowed rebate @ 6%. Pass journal entries in the books of M and N.

3. Rectify the following errors:

(a)  Sales Return book was under cast by Rs.4000

(b)  Purchase of machinery was debited to Purchases account with Rs. 20000

(c)  Rs.5000 paid to Sanmugham was debited to Sundar account

(d)  A cash sale of Rs. 150 to B, correctly entered in cash book, was posted to the credit of B’s personal account, instead of sales account.

(e)  Credit sales to Narayn Rs.7000 was posted through purchase book.

(f)  Goods worth Rs. 5000 were taken by the proprietor which was not recorded.

4. Enter the following transactions in the cash book with cash and bank columns:

2012 Rs.

July 1 Cash in hand 100000

July 1 Bank overdraft 10000

July 9 Sold goods for cash to Deepak 70000

July 10 Received a cheque from Saquib 30000

July 13 Deposited the above cheque into bank

July 15 Paid to Hari by cheque for the purchase of furniture 15000

July 17 Withdrew from bank for office use 40000

July 18 Saquib’s cheque dishonoured

July 20 Deposited cash into bank 10000

July 22 Sold goods to Mani and immediately deposited the amount in bank 2000

5. Prepare a bank reconciliation statement from the information given below:

(a)  Bank balance as per Pass book on 30th April,2011, Rs. 50000.

(b)  Cheques deposited but not collected by the banker Rs.42150.

(c)  Rs.750 charged by the bank on account of bank charges not yet entered in the cash book.

(d)  Interest credited by the bank Rs.800 but not entered in the cash book

(e)  Interest on securities collected by the bank and credited in the pass book Rs.2000

(f)  Out of the cheques issued worth Rs.5000, Cheques valuing Rs.2800 were not presented for the payment before the date.

6. Muneer Ltd. Purchased a machine on 1st April 2002 for Rs. 500000. It purchased additional machine on 1st July 2003 for Rs. 100000. On 31st March 2005 it sold the first machine for Rs. 380000. On 1st April 2004 it purchased a new machine for Rs.400000. Depreciation is provided @10% on straight line method. Prepare machinery account till 31st March 2005. Accounts are closed on 31st March every year.

7. On 1st April,2010 Ravi &Co. sold to W &Co. goods valued at Rs.250000 and drew upon it a 4 months bill for the amount. W &Co. accepted the draft on presentation. When the bill was about to mature, W &Co. expressed its inability to meet it and offered to Ravi &Co. Rs. 70000 in cash and to accept a fresh bill for the balance plus interest at 6% p.a. for three months. The drawer agreed to the proposal and the bill was renewed. Pass necessary entries in both the parties’ books.

8. From the following Trial Balance of M/S S.P. Gupta & Sons as on 31st March, prepare

Trading and Profit &Loss Account and Balance Sheet:

NAME OF ACCOUNTS / Dr. (Rs.) / Cr.(Rs.)
Drawing and Capital
Purchases and Sales
Stock(1.1.2003)
Return outward
Carriage Inward
Wages
Factory rent
Building
Furniture
Rent
Salary
Advertisement
Bills payable
Sundry Debtors and Creditors
Returns inward
Cash in hand / 58000
133000
50000
-
2000
5000
7500
60000
14000
22000
20000
4000
42000
2000
22500
442000 / 180000
200000
2000
40000
20000
442000

PTO

Adjustments:

(a)  Closing stock Rs. 80000

(b)  Salary outstanding Rs. 5200

(c)  Bad debts Rs.2000 and make provision for bad and doubtful debts to be 5%.

Provide depreciation on Building @ 10% & on furniture @ 5%.

9. From the following Trial Balance of M/S Sharda & Sons as on 31st March 2003, Prepare Trading and Profit and Loss Account and Balance Sheet:

Name of Accounts / Dr.( Rs.) / Cr. (Rs.)
Cash in hand / 6340
Purchases and Sales / 81350 / 197560
Returns inwards and Returns outwards / 1360 / 1000
Wages / 30420
Carriage inwards / 4080
Carriage on sales / 6400
Stock(1-4-2002) / 11520
Buildings / 80000
Machinery / 40000
Salaries / 30000
Patents / 15000
General expenses / 6000
Insurance / 1200
Capital / 142000
Drawings / 10490
Debtors / 29000
Creditors / 12600
353160 / 353160

Adjustments:

1. Closing stock Rs. 13000

2. Machinery is to be depreciated @10% and Patents @20%

3. Insurance includes a premium of Rs. 170 for the next year.

10. Show the treatment of the following items in the profit and loss account.

NAME OF ACCOUNTS DEBIT (Rs) CREDIT (Rs)

Debtors 85000 -

Provision for doubtful debts - 5000

Bad debts 1000 -

Adjustments:

There was further bad debts of Rs. 1000

Make a provision for doubtful debts @10%.