Practice Questions For Board Exam Grade 11!

Question Bank for Board Exam-2077 Jestha 15 Purchased from Gopal & Brothers: A. Answer the following : 500 kgs of Ghee @ Rs. 400 per kg. 1. Write in brief about business entity concepts with suitable examples. 200 kgs of Ghee @ 350 per kg. 2. State any three objectives of book-keeping. Required : Purchase book. 3. Write in brief about accounting period concepts. 2. Following are the transaction relating to credit sales: 4. Mention any three importance of the double entry system of book-keeping. I. Sold to Saman Brothers: 5. What do you know about Syaha and Dhapot? 10 Tables @ Rs. 1,000 each. 6. Write the objectives of Reserve. 10 Beds @ RS. 5,000 each. 7. Write the importance of Trial Balance. Ii. Sold to Paban stores : 8. Mention three functions of Accounting. 5 sofa sets @ Rs. 10,000 each. 9. Mention any three features of Double entry book-keeping system. 10 Beds @ Rs. 5,000 each. B. 1. Following transaction are given : Less 10% Trade discount on the transactions. - Started business with cash Rs. 1,00,000 and furniture Rs. 50,000 Required : Sales Book. - Purchased goods worth of Rs. 75,000 on credit. E.1. Following Cash and bank transactions are given to you : - Wages paid Rs. 10,000 Poush 1 Balance of cash in hand Rs. 30,000 and cash at bank Rs. - Sold goods costing Rs. 20,000 for Rs. 25,000 1,00,000. Required : Accounting equation. Poush 6 A cheque of Rs. 14,500 received from the debtors and 2. The following transactions are given: settled his account of Rs. 15,000. - Started business with Rs. 5,00,000 Poush 10 issued a cheque of Rs. 2,700 in favour of a creditor after - Purchased machinery from Hari & Co. for Rs. 2,00,000 receiving discount of 10% - Purchased goods worth Rs. 50,000 in cash. Poush 17 cash deposited into bank Rs. 5,000 - Sold goods worth Rs. 20,000 for Rs. 30,000 Poush 25 Paid salary of Rs. 30,000 through cheque. C. 1. Following transaction are Given to you : Poush 28 Paid house rent by cash Rs. 10,000 - Purchased goods from Susmita Rs. 25,000 Required : Triple column cash book. - Sold goods to yogendra Rs. 5,000 - Rent Received Rs. 5,000 2. Following transaction are given to you : - Cash paid to Susmita Rs. 24,000 in full settlement. Magh-1 Opening balance of Cash and Bank are Rs. 60,000 and Required : a. Journal Entries b. Susmita’s Account. Rs. 80,000 respectively. 2. Following transactions are given to you: Magh-10 Received cash Rs. 27,500 from a debtor and - Started business with Rs. 50,000 settled his account of Rs. 30,000. - Goods Purchased for Rs. 25,000 cash. Mah-15 Cash withdrawn from bank for office us Rs. 10,000 - Goods sold Rs. 15,000 on cash. Magh-20 Paid cash Rs. 24,000 to creditors in full settlement - Rent paid Rs. 10,000. of his account Rs. 25,000. Required : a. Journal Entries b. Cash Account Magh-25 Cash deposited into bank Rs. 9,000 D. 1. Following purchase transaction given to you: Magh-30 Salary Rs. 25,000 paid by cheque. Jestha 7 Purchased from Naresh Stores : Required : Triple Column Cash book. 50 bags of rice @ Rs. 5,000 per bag. 400 kg of sugar @ Rs. 65 per kg. F. 1. The following information at the end of Magh 2076 is given to you. ● Bank balance as per cash book Rs. 5,000 (Discount received at 5% on rice.)

● Cheque of Rs. 15,000 issued but presented for payment cheque H. 1. Unadjusted trial Balance of a trader is as under: of Rs. 14,000 til magh. Debit Rs. Credit Rs. ● Amount of Rs. 1500 wrongly credited in pass book. 1,50,000 ● Interest on overdraft charged only by bank Rs. 8,500 Purchase 80,000 Sales 40,000 ● Amount of Rs. 4,000 directly deposited into the bank by a 70,000 Machinery 50,000 Creditors customer. Debtors 15,000 Capital 2,60,000 ● Cheque sent into bank for collection but not collected and credited Salaries 30,000 by bank Rs. 5,000. Rent 40,000 Required : Bank reconciliation statement on 30 magh Furniture 45,000 2076. 2,60,000 2. Following information are given.: ● On Falgun, the balance of Bank pass book was Rs. 80,000. On Additional Information : reconciliation with a cash book, following differences are located. I. Salaries outstanding Rs. 5,000 ● Cheque issued but not presented for payment Rs. 5,000 Ii. Depreciate machinery @ 10% ● Cheque sent for collection Rs. 10,000 not deposited by bank. ● Interest on saving account allowed by bank Rs. 800 Required : Adjusted trial balance. ● Insurance Rs. 4,000 directly paid by bank. ● Rs. 3,000 directly deposited by customer in bank account but not H. 2. An unadjusted trial balance is provided to you. recorded in cash book. Required : Bank Reconciliation Statement. Particulars Debit Rs. Credit Rs. G. 1. On 1st January 2010, ABC company purchased a machine at Rs. 1,00,000. Bank and cash balance 20,000 75,000 On 1st July 2011 another machine was purchased for Rs. 2,00,000. On 1st July Purchase 40,000 80,000 2012, the company sold the machine purchased on 1st january 2010 for Rs. Machinery 50,000 20,000 65,000. On the same date another machine was purchased at Rs. 1,50,000. The 1,75,000 accounts of the company are closed at the end of December each year and Sundry debtors 40,000 depreciation is charged at 15% p.a. On a fixed installment system. Wages and salaries 25,000 Capital Required : Machinery account from 2010 to 2012. Sales 2. Wuhan company purchased a vehicle on Jan 1st, 2016 for Rs. 4,00,000. On creditors July 1st 2017 it purchased another vehicle at Rs. 3,00,000. On June 30, 2018 it sold an old vehicle purchased on 2016-1-1 at Rs. 2,30,000. 1,75,000 Depreciation is calculated under a straight line method & the rate of depreciation of I.1. Trial Balance of a Trader as on 31st Dec 2019 vehicles is 20%. Accounts are closed on 31st Dec. each year. Prepare the vehicle account from 2016 to 2018. Particulars Debit(Rs.) Credit(Rs.) Purchase 5,00,000 8,00,000 Sales 2,00,000 Capital 2,30,000 Opening stock 30,000 30,000 Carriage inward 10,000 Purchase and sales return

Carriage outward 38,000 13,92,000 13,92,000 1,04,000 Sundry debtors 50,000 Additional information : Creditors 4,000 50,000 10% Bank loan 30,000 i. Closing stock Rs. 1,70,000 16,000 5,000 Interest on loan 1,00,000 ii. Bad debts R. 10,000 Salaries 61,000 Wages iii. Increase the provision for bad debt to rs. 5,000 from Rs. 3,000 12,000 Fixed assets iv. Wages outstanding Rs. 10,000 Cash and bank Provision for bad debts v. accrued interest on loan for six months. Insurance prepaid vi. Depreciate furniture and plant and machinery @10% per annum. vii. Insurance prepaid Rs. 3,000 Required : a. Trading account b. Profit and loss account c. Balance sheet Total 11,35,000 11,35,000 as at ending date of ashad. Adjustments : a. Closing stock Rs. 2,50,000 J. 1. Balance sheet of a sport club as on 01-01-2075 B. Prepaid wages Rs. 4,000 c. interest on loan outstanding Rs. 1,000. Liabilities Amount Rs. Assets Amount Rs. d. Insurance prepaid written off Rs. 10,000 e. Create provision for Bad and doubtful debts @ 5% on debtors Capital fund 45,000 Land & Building 30,000 O/S House rent 5,000 Sport equipment 11,000 after writing up bad debts Rs.4,000. Advance subscription 3,000 Furniture 5,000 f. Depreciation fixed assets @ 10% 7,000 g. Depreciation fixed assets @ 10% cash and bank h. Outstanding salary Rs. 6,000. 53,000 Total 53,000 Total Required : i. Trading and Profit & Loss a/c ii. Balance sheet as on 31st Dec 2019. I. 2. The following is the trial Balance of a firm for the year ended Ashad : Receipt and Payment A/C for the year 2075 Debit Rs. Credit Rs. Receipts Amount(Rs.) Payments Amount Rs. Building 3,24,000 Capital 6,00,000 Opening balance 7,000 Salaries 30,000 Subscription 26,000 House rent 17,000 Drawing 75,000 12% Loan 50,000 Donation 30,000 Furniture(2075-01-01) 10,000 Furniture 30,000 Sales 6,00,000 Plant & Machinery 90,000 Commission 4,000 Receipt form concert 12,000 Concert expenses 6,000 Other expenses 1,500 Purchases 3,25,000 Creditors 75,000 Audit fee 2,500 Beginning stock 1,75,000 Bills payable 60,000 Wages 50,000 Provision for bad debt 3,000 Closing balance 8,000 Insurance 10,000 Total 75,000 Total 75,000 Debtors 1,50,000 Cash in bank 15,000 Additional information : a. Outstanding salary Rs. 6,000 b. Outstanding subscription for 2075 Rs. 8,000 Bills receivable 60,000 C. Half of the donation is to be capitalized. Salaries 75,000 d. Depreciate furniture @ 10% p.a. Advertisement 10,000 Required : a. Income & Expenditure a/c. Interest paid 3,000

b. Balance sheet as on 31st Chaitra 2075. debtor balance on Chaitra 30, 2074 was Rs. 50,000 maintaining provision for bad and doubtful debts @5% on a debtor. J.2. The following balance sheet and receipts and payments account of a club are given. Required : Provision for bad and doubtful debt account. Balance Sheet of a Club as on Chaitra 31, 2069 K.2. Following information are provided : i. Opening provision for doubtful debts Rs. 5,000 Capital/Liabilities Amount Rs. Assets Amount Rs. ii. Bad debts written off during the year Rs. 3,000 Capital Fund iii. Sundry debtors at the end of the year Rs. 1,50,000 32,400 Books 20,000 iv. The provision doubtful is to be maintained at 5% on sundry debtors. Total 8,500 Required : Provision for doubtful debts account. Furniture 350 Subscription Receivables 360 L. 1. Mr. Rohit , who keeps his books of account under a single entry system. Advance Rent 3,190 Started business within own building of Rs. 1,50,000 and bank balance of Rs. Cash in hand 32,400 32,400 Total 50,000 on 1st Baisakh 2070. On 31s chaitra 2070 his financial position depicts as under : Receipts and Payments account of Chaitra 31st, 2070 Sundry debtors Rs. 15,000 Cash at bank Rs. 30,000 Receipts Amount Rs. Payments Rs. Stock in trade Rs. 25,000 Creditors payable Rs. 30,000 Balance of cash b/d 3,190 Rent 1680 Drawing during the year Rs. 18,000 Entrance fees 550 Wages 2,450 Additional information : Subscriptions 18,000 Electricity charges 720 Donations 1,650 Book purchased 2,480 i. Further investment Rs. 25,000 Life member fees 2,500 Office expenses 4,500 ii. Depreciate building @ 10% p.a. Interest on fixed deposits 240 Fixed deposit 12,000 Proceeds from tournament 2,320 Tournament 2,020 Required : a) Statement of affairs at close b) Statement of profit and loss expenses 2,600 Cash in hand L.2. Miss Rajani Rai started business with Rs. 35,000. Her position of assets and Total 28,450 Total 28,450 liabilities at the end of year are as follows. Cash Rs. 7,000 DebtorsRs. 15,000 Additional information : Stock Rs. 30,000 Furnicture Rs. 20,000 1. Subscriptions outstanding for the year Rs. 550 2. Advance rent paid Rs. 350 Creditors Rs. 10,000 Bank Loan Rs. 15,000 3. Provide depreciation @10% on furniture Drawing during the year Rs. 5,000. Bad debts Rs. 1,000. Depreciate Furnicture by Required : a) income and expenditure account b) Balance sheet as on 31st chaitra 2070 10%. Required : a) Closing statement of affairs b) Statement of profit and Loss. K.1. On Baisakh 1, 2074 provision for bad and doubtful debt accounts showed a M.1. The following transactions are given : credit balance of Rs. 10,000, bad debts during the year was Rs. 2.000. Sundry Magh 1 : Started business with cash Rs. 2,00,000 and Furnicture Rs. 50,000

Magh 4: Goods purchased on credit for Rs. 50,000 Budget Head Annual Expenditure Expenditure up Budget (Rs.) of Magh(Rs.) to Poush(Rs.) Magh 10: cash deposited into bank Rs. 20,000 Magh 25: Settled creditors account by paying in cash RS. 49,000 Required : a) Journal entries b) Cash account Salary 3,00,000 25,000 1,75,000 Allowance 5,000 1,000 3,000 M.2. Prepare journal entries on the basis of the following transaction given from District post office , Kaski TADA for transfer 30,000 5,000 15,000 Office operating materials 22,000 3,000 16,000 a) Received Bank order of Rs. 1,00,000 and Budget release order of Rs. Furniture 50,000 10,000 30,000 1,20,000 Machinery 1,50,000 - 1,00,000 b) NRB cheque of Rs. 40,000 for salary of the month after deduction of Rs. 10,000 for provident fund and RS. 5,000 for income tax. Total 5,57,000 44,000 3,39,000 c) Mr. Basnet presented a bill of printer of Rs. 28,000 and his advance is Additional information : cleared. i. Total revolving fund released Rs. 4,00,000 Ii. Petty cash fund balance Rs. 800 d) Furniture of Rs. 50,000 purchased through cheque. Required : Monthly expenditure report. N.1. Following particular information of expenditure relating a government office are given below: O.2. Following transactions are provided : Shrawan 1: received a bank order and budget released order letter for the amount equal to 1/6th of last year annual expenditure or Rs. 9,00,000 Annual Budget Heads Expenses till Expenses of allotment Chaitra Baisakh Shrawan 5: issued a cheque of Rs. 5,000 as advance to purchase office supplies. 2,00,000 Salary 1,50,000 30,000 Shrawan 15: issued a cheque of Rs. 40,000 to purchase furniture. 10,000 Dearness Allowance 7,000 1,000 Shrawan 25: issued a cheque of Rs. 4,000 to purchase stationary. Shrawan 28: issued a cheque for salary of Rs. 60,000 for the month of Shrawan 50,000 House Rent 40,000 4,000 after deducting provident fund of Rs. 14,000 and income tax Rs. 3,000. 40,000 Office Expenses 35,000 2,000 60,000 Furniture 30,000 10,000 Required : Post the transaction into the bank cash book. 3,60,000 Total 2,62,000 47,000 M.2. following transaction are given to you : Additional information : i. Total revolving fund release Rs. 3,20,000 Bhadra 1: Opening bank balance Rs. 50,000 Ii. Advance to be cleared Rs. 3,000 Iii. Petty cash fund balance Rs. 500 Bhadra 11: Bank order of Rs. 1,10,000 received which was equal to Iv. Loans to be received Rs. 2,000 last months real expenses. Prepare : Statement of expenditure for the month of Baisakh showing the bank balance and net expenses. Bhadra 25: Cycle for postman purchased worth 15,000 Bhadra 30: Total salary of Bhadra Rs. 77,000 out of which Rs. 14,000 for providend fund, Rs 3,000 for income tax and Rs 5,000 for providend fund loan is deducted. And cheque issued for the remaining amount. Required : Prepare Bank Cash Book P. 1. Following errors are found after preparation of Trial balance. i. Wages of installing machinery Rs. 1,000/- entered in wages A/C. O.1. Following information are given : ii. Goods purchased Rs. 600/- from Keiki were entered as sales to her.

iii. Amount of Rs. 2,000/- paid to Mr. Lalit correctly entered in a cash account but credited it to Lalit’s A/C. Required : Prepare account for rectification of errors. P.2. The following errors were located before the preparation of trial balance. i. Purchase of Rs. 3,000 from Mr. A was recorded as sales to him. ii. Salary paid Rs. 2,500 to Prakash has been wrongly debited to his account. iii. A Sales of goods worth Rs. 675 to Rekha was posted as Rs .567 in account. Required : Entries for rectification. Have the best Preparation ! THE END