Karthik Single Entry

****************************************** ******************ACCOUNTS QUESTION PAPER***************** 1. SHRI JONES WHO KEEPS HIS BOOKS BY SINGLE ENTRY

GIVES YOU THE FOLLOWING INFORMATION FOR THE YEAR 1998. SUMMARY OF CASH BOOK RECEIPTS AMT PAYMENTS AMT To Balance at bank To Sundry debtors To Bills receivable To Commission To Cash sales To balance c/d

4,350 38,400 12,000 1,500 8,600 3,350

By Engineer’s 7,520 By Trade 27,100 creditors 9,300 By Bills 12,000 payable 6,500 By Wages 4,400 By Salaries 800 By Rent and 250 taxes 330 By Insurance 68,200 By Carriage 68,200 By Advertising PARTICULARS OF OTHER ASSEST AND LIABILITIES ASSETS AND LIABILITIES 01.01.199 31.12.1998 8 Amount Amount Stock on hand 18,700 23,400 Debtors 12,000 14,000 Creditors 9,000 1,500 Bills receivable 4,000 5,000 Bills payable 1,000 200 Furniture 600 600 Building 12,000 12,000 ADDITIONAL INFORMATION: A reserve of Rs. 1,450 is required for doubtful debts and depreciation at 5% is to bewritten off building and furniture. Rs 3,000 are outstanding for the wages and Rs1,200for salaries . Insurance has been prepaid to the extent of Rs 250. Legal Expenses are outstanding to the extent of Rs. 700.Prepare final accounts .

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****************************************** ******************ACCOUNTS QUESTION PAPER***************** 2. Shri HJ maintains his books on the single entry system and furnishes the following details to you for the year 1998. Fixed assets 20000 25000 Debtors 25000 40000 Creditors 15000 20000 Stock 10000 15000 Cash at bank 5000 8000 The other information relating to the year 1998 is as follows: Receipt from debtors 2,50,000 Payments to creditors 2,00,000 Discounts earned 5,000 Bad debts 7.000 Expenses paid 30,000 Drawings of Shri HJ 6,000 Cash sales 5,000 Cash purchases 11,000 Purchases returns 26,000 1. Depreciation fixed assets @ 10% of the balance sheet as at 31st dec 1998. 2. Provide for O/S liabilities for expenses of Rs 5,000 3. Provide a reserve for bad debts of Rs 2,500. You are required to prepare P/L a/c for the year 1998 and a balance sheet as at 31st Dec. 1998.

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****************************************** ******************ACCOUNTS QUESTION PAPER***************** 1. From the following information supplied to you prepare income

and expenditure account for the year ended on 31st December 1980 and Balance sheet as on that date for Subhash Sports Club, Aurangabad. Balance sheet as on 1st January 1980 Liabilities Rs. Assets Rs. Subscription 1,000 Land & Building 50,000 received in advance 2,800 Furniture] 10,000 Out standing 10,000 Cash in hand 20,000 expenses 67,200 Outstanding Debtors 700 8% Loan for subscription 300 Capital fund Locker Rent 81,000 81,000 Receipt and Payments Accounts for the year ended 31st December 1980 Receipts Rs. Payments Rs. To Balance 20,000 By expenses: (01.01.0980) 1979 2,400 Subscription : 1980 6,400 1979 400 4,000 8,000 1980 4,700 By Furniture (01 -07 10,000 4,000 1,300 1980) 400 1981 300 1,000 By Loan Repayment 4,200 Entrance fees 7,000 (01.0701980) 6,000 Locker Rent 1,000 By interest on Loan 35,000 Income from 35,000 account refreshment Donations By refreshment Expenses By balance ( 31.12.1980) Following adjustments are to be taken into consideration: 1. Outstanding subscriptions for 1980 Rs. 1,500/2. Outstanding Expenses for 1980 Rs. 500 3. Outstanding Salary Rs. 1,000/4. Depreciate Land and Building at 2% and Furniture @ 10% per annum. 5. Entire amount of donations and one – half amount of entrance fees are to be capitalized. 6. Locker Rent outstanding for 1980 is Rs. 200/-

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****************************************** ******************ACCOUNTS QUESTION PAPER***************** 2. From the following Receipt and Payment A/c of Tarun Mitra Mandal, Jalgaon for the year ending 31-12-1981 and the adjustments given below, prepare Income And Expenditure A/c for the year ending 31st December 1981 and the Balance Sheet on 31-121981, Receipts Amount Payments Amount To Balance 01-0123,000 By Taxes 1500 1981 5,000 By rent 12000 To Donations 3,500 By stationery 2500 To Entrance Fees 20,000 By wages 3000 To subscriptions 1,000 By billiard table 1950 To locker rent 1,500 By electrical fittings 1150 To Income from By Investments 12000 Annual program 15,000 By repairs 800 To Sale of furniture By annual 1100 (Cost of Rs. 20,000) programmer expenses By Match expenses 3000 By Bank Balance 25000 By cash 5000 69000 69000 1. Locker rent includes Rs. 200/- for the year 1980 and Rs. 50 is still outstanding for current year. 2. Subscriptions include Rs. 1000/- for the year 1980 and 800/are outstanding for this year while Rs. 200/- are received in advance in the year 1982. 3. Rent Rs. 800/- for the month of December 1981 is still outstanding. 4. ½ of the donations and ½ of entrance fees are to capitalized. 5. Opening stock of stationery stood at Rs. 500/- on 1.1.1981, while at the end of the year the stock of stationery stood at Rs. 1,000/6. The assets on 1.1.1981 were: Furniture Rs. 25,000/- Sports materials Rs. 5000/- while the capital fund on 01 – 01 – 1981 stood at Rs. 54700/-

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