- 12th Accountancy - Unit 1 Important Questions | Mr. Shanmugasundaram - English Medium PDF Download Here
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HIGHER SECONDARY SECOND YEAR
ACCOUNTANCY
Unit -1: ACCOUNTS FROM INCOMPLETE RECORDS
[IMPORTANT QUESTIONS - 2023]
I.Multiple choice questions:
1. Which of the following items relating to bills payable is transferred to total creditors account?
(a) Opening balance of bills payable (b) Closing balance of bills payable
(c) Bills payable accepted during the year (d) Cash paid for bills payable
2. Opening statement of affairs is usually prepared to find out the
(a) Capital in the beginning of the year (b) Capital at the end of the year
(c) Profit made during the year (d) Loss occurred during the year 3. Opening balance of debtors: ` 30,000, cash received: ` 1,00,000,
credit sales: ` 90,000; closing balance of debtors is
(a) 30,000 b) 1,30,000 c) 40,000 d) 20,000
4. Which one of the following statements is not true in relation to incomplete records?
(a) It is an unscientific method of recording transactions
(b) Records are maintained only for cash and personal accounts
(c) It is suitable for all types of organisations
(d) Tax authorities do not accept
5. Statement of affairs is a
(a) Statement of income and expenditure
(b) Statement of assets and liabilities (c) Summary of cash transactions (d) Summary of credit transactions
II. Answer the following questions
6. What is a statement of affairs?
7. State the differences between double entry system and incomplete records.
8. Differentiate between statement of affairs and balance sheet.
9. From the following details, calculate the missing figure.
Particulars
`
Closing capital as on 31.3.2018
80,000
Additional capital introduced during the year
30,000
Drawings during the year
15,000
Opening capital on 01.4.2017
?
Loss for the year ending 31.3.2018
25,000
10. On 1st April 2018 Subha started her business with a capital of ` 1,20,000. She did not maintain proper book of accounts. Following particulars are available from her books as on 31.3.2019.
Particulars
`
Particulars
`
Bank overdraft
50,000
Stock-in-trade
1,60,000
Debtors
1,80,000
Creditors
90,000
Bills receivable
70,000
Bills payable
2,40,000
Computer
30,000
Cash in hand
60,000
Machinery
3,00,000
11. From the following particulars, calculate total sales.
Particulars
`
Particulars
`
Debtors on 1st April 2018
2,50,000
Bills receivable dishonoured
15,000
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