Mtp Solutions

March 26, 2018 | Author: tusharmohite0 | Category: Dividend, Equity (Finance), Depreciation, Expense, Discounting
Share
Report this link


Comments



Description

[Type the company name] CPT-MODEL TEST PAPER SOLUTIONS VOL I &VOL II BY PANKAJ SIR [Type the author name] 14 ACCOUNTS CLASSES BY PANKAJ SIR TABLE OF CONTENTS CPT-MODULE-VOLUME I-MODLE TEST PAPER 1 .............................................................................................................................. 3 MODEL TEST PAPER 2 ....................................................................................................................................................................... 5 MODEL TEST PAPER 3 ....................................................................................................................................................................... 7 MODEL TEST PAPER 4 ....................................................................................................................................................................... 9 MODEL TEST PAPER-5 ..................................................................................................................................................................... 10 MODEL TEST PAPER-6 ..................................................................................................................................................................... 12 MODEL TEST PAPER-7 ..................................................................................................................................................................... 13 MODEL TEST PAPER 8 ..................................................................................................................................................................... 15 MODEL TEST PAPER 9 ..................................................................................................................................................................... 17 MODEL TEST PAPER 10 ................................................................................................................................................................... 20 MODEL TEST PAPER – 11 ................................................................................................................................................................ 20 MODEL TEST PAPER – 12 ................................................................................................................................................................ 21 MODEL TEST PAPER 13 ................................................................................................................................................................... 23 MODEL TEST PAPER – 14 ................................................................................................................................................................ 24 MODEL TEST PAPER – 15 ................................................................................................................................................................ 28 MODEL TEST PAPER – 16 ................................................................................................................................................................ 33 MODEL TEST PAPER – 17 ................................................................................................................................................................ 36 MODEL TEST PAPER – 18 ................................................................................................................................................................ 40 MODEL TEST PAPER – 19 ................................................................................................................................................................ 43 MODEL TEST PAPER - 20 ................................................................................................................................................................. 48 VOLUME II ....................................................................................................................................................................................... 51 MODEL TEST PAPER 1 ..................................................................................................................................................................... 51 MODEL TEST PAPER 2 ..................................................................................................................................................................... 53 MODEL TEST PAPER 3 ..................................................................................................................................................................... 55 MODEL TEST PAPER 4 ..................................................................................................................................................................... 57 MODEL TEST PAPER 5 ..................................................................................................................................................................... 58 MODEL TEST PAPER 6 ..................................................................................................................................................................... 60 MODEL TEST PAPER 7 ..................................................................................................................................................................... 62 MODEL TEST PAPER 8 ..................................................................................................................................................................... 63 MODEL TEST PAPER-9 ..................................................................................................................................................................... 64 MODEL TEST PAPER 10 ................................................................................................................................................................... 66 All rights reserved with Author 9811860116 Page 2 ACCOUNTS CLASSES BY PANKAJ SIR CPT-MODULE-VOLUME I-MODLE TEST PAPER 1 Q 23:-COGS = O/STOCK+ PURCHASES+ DIRECT EXPENSES-C/STOCK;80,700 = 5,800+X-6,000;80,900/-(X = Purchases) Q24:- SLM:Depreciation = (Cost-Salvage)/N = (126000-6000)/6 = 20000 PA Q 25:TRADING A/C PURCHASES 90,000 SALES 120,000 CARRIAGE INWARD 6,000 C/S 12,000 GP 36,000 132,000 132,000 Q 26 Abnormal Loss= (Cost of goods:300,000+ expenses:5,000)*1/10-3,000 = 30,500-3,000=27,500/Q 27 JV A-10,000 15,000-V A-1,000 2,000-V V-1,000 Profit:5,000 Q 28 B/R 20,000 BANK 19,900 TO X 20,000 DISCOUNT100 TO B/R 20,000 DISHONOUR X 20,000 TO BANK 20,000(ANS IS 20000) Q 29 3500(CP)-800(CP)=2,700 Q30 Interest on Capital(IOC) A B PROFIT 7,800(Interest not subtracted as profit is after interest) PROFIT 4680 3,120 3/5 2/5 Q 31 A 5/8 7/16 3/16 Q 32 Q33 Q34 B 3/8 5/16 1/16 500-100-50-125+400=1,625=PASS BOOK C OR-OLD RATIO NR-NEW RATIO 4/16 SR-SACRIFICING RATIO 3:1 CASH BOOK( O/D) (GOD) AS PER COST CONCEPT *10000+1000+500+1200=12,700(second hand so, all expenses added) CORRECT T/B WRONG PURCHASE RETURN 84 SALES RETURN 84 SUPP 84 SUPP 84 168 DEBIT MORE THAN CREDIT 35 CORRECT TB SALES 15000 PURCHASE 10000 EXP 2500 *SALARIES 2500 WRONG PLACING OF SALARIES A/C IS ANS 36 GW = 29600+28700+28900+24000+26800 X 3 = 82,800;D SHARE =4/16*82,800=20,700 5 9811860116 Page 3 09 1200 30.10 31. LOSS =8000 PA = 40000/5 =8000/40 12500 = Abnormal Loss.X=10500.08-09. C/S= 13500 Page 4 .34300.O/S+C/S = 24000.X= 56250 X C SHARE.thus. thus 1+2+3+4+5=15.9. X+X+3000 = 24000 2X=21000. 36000+7200=43200 CP + 1/3(15000)=60000 6000 51 1. LOSS.07-08. so 1/15*300000=20000 average stock=(O/S+C/S)/2 = 12000.09-10.30000 through bill .45000 = X-1/5X.50. NO VALUE OF GW AS ADJUSTED THROUGH PARTNER CAPITAL A/CS 46 INTEREST ON LOAN 4800 6000 By Profit To Profit to Partners1200 X Y Z 400 400 400 + INTEREST ON LOAN + 4800 X Y Z 400 5200 400 47 STOCK (COST) 200X100-1/5=16000 48 35000 less 35000X2/100.08 1200 1600 300 900 400 31. thus total five years. Invoice Price X1/10 = 12500.06-07. N=5.45000=4/5X .56250X1/5=11250 45 C 35000X1/3 11667 TO A 5833 TO B 5834 THUS. X = 45000X5/4.10 30.X= 45000X5/4.9.000 42 Share Capital 30X6 TO Share Forfeiture 30X2 TO Share Allotment 30X3 TO DISCOUNT 30X1 30 43 (51000+20000+25000)*3/16 = 18000 44 A+B = 45000. 36000 at 20% so.12. Invoice Price = 125000 41 Purchase Consideration/issue Price=200000/80 = 2500 shares.4300 in CASH 49 STOCK(COST) 100000=100000+25%=125000(expenses not added as not old typewriter) 50 45000 LOSS(10%) 54000 =2/3 sold i.10.e. Value =2500*100=2.ACCOUNTS CLASSES BY PANKAJ SIR 37 Share Capital 2000X9= 18000(ANS IS D) TO Share Forfeiture 2000X5 TO CALL IN ARREAR 2000X4 38 CAPITAL REDEMPTION RESERVE= FV OF PREF SHARE CAPITAL -NEW ISSUE =2000X100-1500X100= 50000 39 20000X10X20/100 = 40000 .12.09 1300/52 53 9811860116 05-06. CASH 2100 TO MOHAN(a/C RECIVABLE) 2100 Share Capital 2000X9=18000 30000X4/5 = 6000X2 2/3 8000 = 12000 1/3 4000 MODEL TEST PAPER 2 23 (D) 20000810*20%=40000.NOT PAID on2500 .AS FIFO. Amount PAID ON -77500.thus.40000/5 = 8000PA 24 (A) CAPITAL REDEMPTION RESERVE= FV OF PREF SHARE CAPITAL -NEW ISSUE = 2000X100-1500X100 = 50000 25 (A) 750000/100+25= 6000 SHARES 26 (D) (500000-40000)15% = 69000(Called Less Arrears) 27 (A) NO OF SHARES 80L/100 = 80000 SHARES.GW= 30000X1/6= 5000 .62500/2500=25 per share 28 (B) 20% PROFIT ON SALES=25% PROFIT ON COST 29 (C) 3/10X30000 = 9000 30 (A) Loan account 70820 B/D 50000 RESERVE 15000X2/5 = 6000 GW = 30000X2/5 = 12000 Revaluation 7050X2/5 = 820 31 (C) A B C B/D 50000 30000 GR 9000 6000 59000 36000 25000 C= 25000X6= 150000.ACCOUNTS CLASSES BY PANKAJ SIR 54 C/S = 45-32=13. 25000+5000 = 30000(extension and improvement not to be considered) DEBTOR-MOHAN 3500.100 + 150= 1550 100 1650 expenses means which will be in P and L.13. GW 5000 25000 20000 32 (A) P Q R GW 9000 ½ 4500 2/3 1/3 3000 1500 33 (D) OR A B C 9811860116 Page 5 . so. 10 6 march 55 57 58 59 60 3 4 march 10X460+3X450 = 5950 CB PB INSAAN GOD 1500 50+50 . so. X = 1433 49 * TRADING 1000X100 BY GOODS SENT 50 (A) CONSIGNMENT GOODS-200000 CASH SALES-100000 CONSIGNOR EXP-5000 CREDIT SALES-110000 CONSIGNEE EXP-2000 STOCK-40000 -COMMISION-3000 DEL CREDERE-2000 PROFIT-38000 9811860116 Page 6 .= 2833.40.X IS CALCULATED BELOW: X= 20/100[70000-(1400+X)-3/5X100000] X= 1/5(70000-1400-X-60000).11.09________________4/1 DISHONOURED 25000X50/100 = 12500 41 (A) 8000-4000 = 4000X12/100X3/12 = 120 42 (A) 35000-2%(700) = 34300-30000= 4300 43 (A) 50000X12/100X3/12 = 1500 = 48500/2 = 24250 44 © 1LX20% = 20000 .3/5*20000=12000 45 (C) R-100000 M-200000 R-1000 M-5000 R-5000 M-10000 PROFIT-80000 46 (A) JV A_200000 B-250000 82000 B-32000 47 (B) 15000 48 (A) 2/100X70000+X = 1400+X. ½*1/4*total GW=5000.000 39 (B) 16/6________30 DAYS_________16/7 +3 DAYS= 19/7 = 18 JULY 40 (A) 1.5X = 8600-X.000 A B C 10000 20000 12000 C = 12000X4 = 48000 HIDDEN = 48000-42000=6000 36 (A) A B C OR 5/8 3/8 NR 1/6 5/16 4/16 SR 3/16 1/16 3:1 37 (A)3/5 4680 (7800 is divided) 3/10 34 (B) 35 (A) = 42000 2/5 3120 38 (A) 200X100 – 1/5 = 16.ACCOUNTS CLASSES BY PANKAJ SIR SR NR 5/8 3/8 1/5 1/10 (25-8)/40 (30-8)/80 34:22:24 = 17:11:12 5000 GW.09________________15.11.6X =8600. ACCOUNTS CLASSES BY PANKAJ SIR 51 (B) 52 (B) 500X200+5000=105000X1/5 = 21000 COGS 310000 400000-SALES GP 90000 53 (C) SALES= 2000;SALES-GP= COGS;2000-1/5X2000 = 1600 54 (A) (120000+10000)X10%= 13000 55 (B) MACHINERY 1.4.2009 B/D 60000 31.3.10 BY DEPRECIATION 12000 1.4.2010 48000 BY DEP 4800(6) BY BANK 30000 BY P/L 13200 56 (C) COGS 1200000 SALES 1300000 GP 325000 C/S 225000 ¼ 57 (B) B/D 180000 COGS = 420000+25%= PURCHASES 330000 525000 SALES C/D = 90000 MODEL TEST PAPER 3 6 (D) ASSETS = LIABILITIES +CAPITAL 5L-1L 4L Assets AND Liability INCREASE BY 4L 23 (B) 90000+115000+265000+100000+200000 = 770000 24 (D) 6 ___________ X126000 = 12/42X126000 = 2X18000 = 36000/6(6+1)/2 25 (B) SALES-COGS = 90000 26 (C) 100000 80000 GP 25% of sales=20000 40000(bal) 27 20000 60000 40000 28 40% OF 50000 = 20000 29 (D) 12000 = (O/S+C/S)/2 = O/S+C/S = 24000=X+X+3000 = 24000;2X = 21000, X= 10500, C/S = 13500 30 (C) 12L/15%-8L = 80,00,000 – 8,00,0000=72L 31 (A) A B C OR 5/8 3/8 NR 7/16 5/16 4/16 SR 3/16 1/16 3:1 32 (C) OD Cash Book 1500-275+400 = 1625 33 (D) 12700 ( 10000+1500+1200) COST CONCEPT 34 (C) 22000 25000 110000 9811860116 Page 7 ACCOUNTS CLASSES BY PANKAJ SIR COGS = 107000; SALES = 107000+107000*¼=133750 36 (B) 85000+90000+70000+100000+80000 X 3 =255000 5 37 (A) Stock 80000 Purchases 160000 GP 50000 Sales 200000 30000-LOSS 60000 C/S 290000 290000 38 (D) Stock 20000 Sales 140700 purchases85800 Stock 18000 carriage 2300 GP 50600 39 7,50,000/125 = 6000 SHARES 40 (B) 12500X10 = 125000 41 (B) 4L/(100-20) = 5L 42 (C) 5000X100X20% = 1L/10 = 10000/43 (C) 4500X6 = 27000 44 (B) (42000+39000+45000)/3X2= 84000 45 (A) 280000X3/12 = 70000 46 (A) Purchases 200000 Sales 250000 Commission on purchases 2000 Commission on sales 12500 PROFIT 35500 47 (D) (130000-5000)/5 = 25000 48 35000-30000-2% *35000=4300 49 STOCK = (1000X200+2000+3000)*1/5 50 (A) 55000X2 = 110000 51 (C) 3_____________________9________________________3 1.10.08 2400 1800 800 31.12.08 1.10.09 31.12.09 320 2600 52 (B) 2L+1/5*200000 = 240000 53 (B) 240000X3/12X4/16 = 24000/16 = 1500 54 (A) _____________________________________________ 2L 4/5 160000- SOLD 176000 2% OF 160000 + 10% 16000(176000-160000) 3200+1600 = 4800 55 (D) CB 1500 BANK (GOD) -100 50 +150 50 9811860116 Page 8 ACCOUNTS CLASSES BY PANKAJ SIR 1550 100 1650 57 (C) 58 (A) 6L 3L B/R 15100 CASH 5000 TO L 20000 TOINT 100 60 (B) 180000 120000 12000(30000X2/5) 8000 4000 MODEL TEST PAPER 4 23 (D) 24 (B) 25 (C) 26 (A) 27 (D) 29 (D) 30 (B) 31 (B) 32 (A) 33 (D) 34 (C) 35 (A) 36 (B) 37 (C) 38 (C) 39 (B) 40 (C) 41 (B) 42 (B) 43 (B) 9811860116 NIL AS BUSINESS STARTED DEBTORS 55200-200 = 55000*5%= 2750 40000X.230975 = 9239 72900/72.9X100 = 100000 (s=c(1-d)^n);72900=c(1-.1)^3 280000X11/12 = 256,667 420X10000/14000 = 300 ALLOTED SHARES SC 8X200 = 1600-CALLED UP R J D 7/16 5/16 4/16 24000X4/12X3/12 = 1500 55000X2 = 110000 12700 12000+20 = 12020 40000(CP)________________50000(SP) = 10000/40000 = ¼ OF COST 2500(LEFT)+1/4625 = 3125 200X5.5X5/100 = 55 M S 5/8 3/8 GW = 1.5 X (18000-8500+30000+16500) / 4 = 21000 SF- 100X6 = 600 BAL AS PER CB(INSAAN) 5000+2000-1500-20 = 5480 6%/100X30000 = 1800X3/12=450 DR -30000-3000=27000 10%-----------------2700 ___________________________ A B 1000 500 = 1500X6.5X10% = 975 A B 3/5 2/5 IOC 2000 Profit 3900 A-1250 B-650 Page 9 3L+ 80000-50000-330000 SELLS(1L-20%) 53 (D) RADIO-1L SALES 120000 EXPENSES 5000 STOCK 5250(105000/100*5) PROFIT 20250 55 (A) _________________________________________________ 4/3 900 900X5 5/3 600X5 300X5 10/3 400 300X5 + 400X5.5 12/3 400X5.SALE 160000.5/100X4L. ALLOTED SHARES = 420X14000/10000 = 300 60%*2000X(100+45) = 174000 CB(CORRECT) B/D CASH/BANK 10000 1870 (CB)WRONG INCREASE BY 90 B/D 10000 BANK 1780 8220 27 * 1000X275/100 = 2750+5% =2887.FOR 1 PIECE.PROFIT 16000 51(C) A = L + C 50000 50000 20000 20000 -3000 +3600 600 _______ 70600 20000 + 50600 52 (C) 31/3___________________________15/4.5+50. 4500 49 (A) GW = SP-AP.ACCOUNTS CLASSES BY PANKAJ SIR 45 (A) 46 (B) 47 (C) 48 (C) 8000-2000 = 6000X18%X3/12 = 270 .9375 28 (B) CP 50000-30% 18000.IP 60000-70% 42000 _____________________________ 5% 2% 3% 3000 360 300 = 3660 9811860116 Page 10 .5/-.= 60000-12. 2937.5 300x5=1500 56 (C) 10000+1/4=12500 AS OLD NOT WRITTEN SO EXP ARE NOT ADDED 57 (B) 1L-5000 = 95000 MODEL TEST PAPER-5 23 (D) 24 (D) 25 (A) 26 (A) (5L-40000)15% = 69000.2937.5/1000=2.000-20%*200000=160000-20%*160000*6/12=144000. =6270 (56000-6000)/10 = 5000/6/10X120 = 720 A B 40000 50000 10% 4000/2 5000/2.00. = (6000-50000)X2 = 20000 50 (B) 1 JAN 2009-2. SO 50000 EACH 2L+25000+5000+2000 = 232000 A Y P 100000 75000 50000 PROFIT 250000.10-2-4-1-1=2 RS PER SHARE 75000/3X3/12 = 6250 AS PREMIUM RECEIVED AT THE TIME OF ALLOTMENT. 6% ON 20000 = 1200 240000 -160000=80000 LEFT + ½. 400 EXCESS 25000-3000-440(2%*22000)-215.PROFIT = (240000-160000)/160000= ½ .60[1140+500 = 1640-82 =1558 18800 – 1880 = 16920+1558=18478 CB PB (INSAAN) (GOD) 1500-100+150 = 1550 50+50 = 100 1650 57 (C) 9811860116 Page 11 . 120000-80000= 40000X100/125 = 32000 A B C IT HAS TO BE EQUAL.4 2/10 = 20000 2000x12 36000 47 (D) 48 (C) 49 (B) 50 (B) 51 52 (D) 53 (D) 55 60000 12000 12000 12000 +24000 (10000X100)/(100-5) = 1L/95 = 10526 30000X1/2 = 15000 120000 = 120000+1/4 = 150000(EXP ADDED ONLY IF OLD TYPEWRITER) 5000X10 = 50000(DEBENTURE PREMIUM SEC 78) CRR = FY-NI.6 1%*(22000-440) = 21344.SO NOTHING WILL BE DEBITED 6% 25000X10 = 250000 5L/80 = 6250X100 PROFIT= AMOUNT RECIVED LESS LOSS ON REISSUE=3000-1X2000 = 1000 SLM WDV 2000 2000 2000 1600 4000 3600 .THUS 80000+40000= 120000 FV-APPLICATION-ALLOTMENT-FIRST CALL-DISCOUNT.SO.= 100000-0.= 1L I CALL.ACCOUNTS CLASSES BY PANKAJ SIR 29 (D) 30 (D) 31 (A) 32 (B) 33 34 (C) 35 (A) 36 (B) 37 (D) 38 (D) 39 (C) 40(A) 41 (B) 42 (C) 43 (A) 44 (D) 45 (b) 46 (c) 2000+1000+5000+9000/12+27000/6 = 13250 10000+NC = 10200. 25000X2 LESS ADVANCE BY ARCHIT= 50000-1000X2 = 48000 20000 1200 ____10%/6 MONTH----. ACCOUNTS CLASSES BY PANKAJ SIR COST OF GOODS AVAILBLE FOR SALE 12L GP 325000.250 20000 FURNITURE 5%--------------.08-09-10000.COMM4000 MODEL TEST PAPER-6 23(B) 24 (B) 25 (D) 26 (C) A OR 3/5 SR 2/10 NR 4/10 (40000+50000+60000+50000)/4X3 = 150000 75000/15 = 5000 A B 3/5 22/5 150000X1/6 = 25000 B 2/5 1/10 3/10 C 3/10 = 4:3:3 27 (A) 28 (B)- 30000-5000 = 40000-5000 10000 FURNITURE 1.09-10.(1800/90% = 2000-1800 = 200 DISCOUNT). = 225X500 = 112500 75000 9811860116 90000 Page 12 .SO PRFOIT IS 14000 36 (B) 400*10+300*9=6700 42 (D) 10000 MACHINE 10%-----------.250 30000 500 44 (C) 45 (C) 46 (D) 480000X125/100 = 6L.SALE-89000.WDV.2850/95% = 3000 PROFIT 44000/(100+10) = 40000. 10000 15000 34 11 October 35 (C) 07-08-10000.5000.100000-25000=75000.5 = 3500 31 (C) 60 LAKHS/120 = 5000 32 (C) 1LX100 X (4%+6%) = 10L 33 (B) O J J OR 5/10 3/10 2/10 NR ½ ½ GR 2/10 3/10 2/10X25000 3/10X25000.10 5000 1000 5000X6/12*10% = 250 1000+250=1250 29 (B) 100X100 + 1000 X 10 = 1100 100 30 (C) SHARE FORFEITURE = 1000X3. 120000 (150+75)X500.4 10000 1000 1.1/4 58 (B) 59 (C) 13L 225000 7000-1800-200-2850-150 = 2000. ACCOUNTS CLASSES BY PANKAJ SIR 47 (B) 48 (D) 49 (C) 50 (C) 10950 2700 6750 (10000-4000)X1/12X15/100 = 60000X1/4X15/100 = 15X15 = 225 23/12/09__________________________25/1 AS 26 JAN PUBLIC HOLIDAY DISCOUNT = 20000X2/12X15/100 = 500 X Y Z(NEW) 2/3 1/3 ¼ 76000-25000=51000 AMONG X AND Y IN 2:1 51000 34000 17000 25000 51 (A) D G DEEPAK 5L 5L ¼ HIDDEN = 8LX4-8L-5L-5L.=10000 56 (C) 15000___________________sold ________________BAL (35000-30000)X10 = 50000 1/4 +20000 30000 5000 = OLD 12/57 (D) 50000+2000+1000+1000+500+200+400+100 = 55200 58 (C) 100000X12/100 = 12000 59 (B) 120000X1/4 = 30000 LOADING 60 (D) PROV 500 1600 1100 MODEL TEST PAPER-7 23 (A) 24 (B) 25 (C) 26 (B) 27 (d) 28 (A) 29 (D) 30(C) 31 (C) 9811860116 600000 A 5/10 ---------300000 B 3/10 --------180000 C2/10-----------120000 40000 allotted AS SUBSCRIBED 5000X100 = 5L FV CRR = PSC-NI = 1L-50000 = 50000 4000X100X9/100X10/12 = 30000 EX 300000-15000 = 20%*285000 =57000 Share Forfeiture-LOSS on reissue-= 5000/3000*1800(3000)-1800 = 1200 allotted-1000. so excess money 200*2=400. 2600 NOT PEND 300000 (TOTAL)X2/10 = 60000 Page 13 . allotment due 100083=30000 less already paid 400 so. = 14L 52 (D) 20000X10X20%= 40000 54 (D) 10000X100 = 10L 55 (C) CRR = 9000X10-NIX9.so.applied 1200. 00.25 = 3250 4L 12L 95000 NRV (4.00.000 = NIL MODULE SALE OF GOOD 5000 6000--------------------1/2 WILL be sent 3000 4850 5700 ½ 38 (B) 39 40 (D) 41 (D) 42 (A) ½ ½ 70% OF 10000 = 7000 23750.25-. exp will not be added in cost as units not given GODOWN + SELLS EXP = 1300 NO INTEREST 20000 100000 2000 GP 53000 43 SUSPENSE 150 Undercast 1000 overcast so reverse 1/7+5/12 = A-----47/84 3/28+4/12 = R 37/84 ½ 150000 25000 1500 44(B) 45 (A) 46 (D) 9811860116 CAPITAL COMPUTER 25000 AC 1L FD 2L SALARY 3L FEES EXP 150000 RENT 240000 CASH 80000 O/D HC 1000X3.000-80.ACCOUNTS CLASSES BY PANKAJ SIR 32 (A) 18000X3/6 9000 12000X1/2 = 6000 6000X1/2 = 3000 Rohit 4/12 3/7X1/4 47:37 3/6 __________ Sumit-RETIRE 3/12 2/6 2/3 1/6 1/3 2/6 1/6 33 (B) OR GR Amit 5/12 4/7X1/4 34 (C) 35 (D) 36 (C) 37 (A) 1:1:1 12/15%=80.35)X1000 = 3900 500000/300000X11L = 183333 Page 14 . ACCOUNTS CLASSES BY PANKAJ SIR 120000 CONSIGNEE so not in our books 48 (D) 280000 25000 has value 5000/ 135000 So.40.40.000*100 = 15.1L/10 = 10000.282012 = 28201 160000/80% = 2L.000 12000-10000 = 2000X90 = 180000 CRR = 10000X100-NI.00. ORIGINAL = 2L/80% = 250000 120000X1/5 = 24000 III-----------HOME II------------OFFICE I-------------OFFICE GF----------STORE 54 (C) 55 (C) 56 (A) 57 (D) 59 80000X3/4 = 60000 + SALES250000 + 500000-150000 = 230000 -1/5(50000) (6%+5%)1.00. total stock is 135000+5000=140000 49 (A) 51 (B) 52 (C) 53 (B) 1LX.NIL NIL AS CALLS IN ARREARS MODEL TEST PAPER 8 23(B) 24 25(B) 26 (C) 27 28 (C) 29 (A) 9811860116 CB BALANCE = 100000-10000 = 90000 SALES-GP = 125000-10000 = 25000 JV 20000 22000 40000 39000 50000 2000 65000 2000 (LOSS) {2000-6/100X2000X3/12}X1/2 = 1790X1/2 = 985/10000 AS IT IS COST P&L APPROPRIATION 2000 6000 4000 S R 40000 80000 DR CR S 3000 2000 R 3000 4000 DR 1000 A 3/6 A 6/15 CR 1000 B 2/6 B 4/15 S-1000 C 1/6 C D 1/6 1/6 Page 15 . ACCOUNTS CLASSES BY PANKAJ SIR 31 (A) 32 (C)33 (B) 34 (C) 35 (C) 36 (D) 37 38 (C) 39 (B) 40 (A) 41 (D) 42 (C) 43 (C) 44 (A) 45 (B) 46 (A) 47 (A) 49 (B) 12:8:5:5 1-C-D = 1-1/6-1/6 = 2/3 A-2/3X3/6 B-2/6X2/3 A-L = 1100000-100000 = 1000000. CLAIM-50% 1640 22000/11 = 2000.5X200 – 100 (5X200-900) = 400 5X1000 = 5000 1600-1/5X1600 = 1280.10X2+4X10 + 2X2 = 64 2008 40000-5000 = 35000 2009 50000+10000= 60000. 2/2. SO O/S FOR 1 MONTH IS 2000 50000X10/100X1 = 5000 OD CASHBOOK (GOOD) 50000+20000+500 = 70500 1020000-20000 = 10L 50 (D) 51 (B) 52 (A) 53 (B) 9811860116 SALES 10L X 25/100 = 250000-10000 TB 20000 10000 10000 SUPSENSE SUSPANCE RO 10000 TO SUSPANCE 100 = 10100 3L+50000-24000+20000 = 346000 10000+25% = 125000 A BC = 4000X6/12X2/4 = 6000 Page 16 .PROFIT/10% = 110000/10% =1100000 11L 10L 1L GW ______________________________10/4 1/4/10 120000-PUR10000+1000+10000COG = 121000 10 OR 11. 5/4. 95000/2 = 47500 100000X2/12/100X3/12 = 3000 NIDHI 5000 45000 14000 2000 43000 15000 DEDUCTED AS DRAWING To Bad debts 10000 15000 b/d 20000c/d 15000 P&L 16000+1000 = 17000 SALARY A/C DR TO EMPLOYEE PF (50000+6000-6000)/10 = 5000 364800/12 = 30400X10 = 304000 SF-LOSS = 2. 11000-5% = 10450 CASH A/C DR TO BAD DEBTS RECOVERED 10000X12 = SALARY = PREPAID SALARY A/C SHOULD BE DEBITED MODEL TEST PAPER 9 5 (A) 23 (D) 24 25 (C) 26 (A) 28 (D) 29 (A) 30 31 (A) 32 (A) 33 (A) 34 (A) 9811860116 10/8___________SEPT____ OCT________MAR + 3 = 13/4 CASH A/C 10000 10000 PURCHASE 5000 15000 CR 35000 FROM DRS 3000 2400 900 4000 1000 8000 NONE 50000-5000 = 45000 100000 OS 35000 FROM DR SALES-COGS = 5L-310000 = 190000 B/R ARUN B/R TO ARON TO B/P B/P TO ARUN 5200-(4000-500)-420-150 = 1130 600-1/6X600 = 500 COST 48000-6000 = 42000X5/105 = 2000 5/100X42000 = 2100 (A) 16000-16000X60/160 = 16000+6000X3/8 = 10000 ¼ ON SALE = 1/(4-1) = 1/3 ON COST 40000+1/4 = 50000 COMMISSION = 5/100X5000 = 2500 TRADING 16500 63500+-450 46850 18210 -110 250 850 GP 14670 P/L Page 17 .ACCOUNTS CLASSES BY PANKAJ SIR 54 (D) A 5L-1L = = L+C 4L 55 (D) 56 (B) 57(D) 58 1000 2000 200 3200 CP = 10000_______10%_______IP. ACCOUNTS CLASSES BY PANKAJ SIR 35 (A) 36 37 38 (A) 200 4670 GP 1110 190 3710 800 8660 200000+2000-3000-12750 = 6250 LOSS ODCB (GOD) 4500+6225-10250 = 475 25000-2500 = 22500 TB 2983 733 1200 2155 829 10923 330 314 2520 2418 1175 25580 39 200 1654 4591 1637 252 16882 364 25580 274-730+477 500 IN CASH+15 40 (B) 1000----900 1.10.04 500+12/100X500X3/12 500-------60% = 300 41 (A) 42 (B) (1000X80+1000X45)/1000X1000 = 8104.50 (200X300+500+200+100)X50/200 = 15200 43 (D) JY EXP 4500 80000 43500 2000 250 7500 3750 1500 2500 6850 44 (A) 9811860116 188500 40000X1/10 = 4000 C SHARE 5000 GUARANTEED Page 18 . ACCOUNTS CLASSES BY PANKAJ SIR DEFICIENCY 1000 A 500 B 500 45 (A) 1% R R M 46 (A) DR 1200 900 600 DR CR 300 300 A B 3/6 2/6 (A) REMAINING CR 900 900 900 3/6X5/6 47 (A) 48 49 (A) 50 (B) 51 (A) 52 (A) C 1/6 1-1/6 = 5/6 D 1/6 2/6X5/6 1/6X5/6 15:10:5:6 A 4/5 B1/5 OR 4/5X1/4 1/5X1/2 SR 4/20:1/10 = 4:2 = 2:1 (40000+10000+60000+80000-20000)X3/5 = 34000X3 = 102000 72000/10%-570000 720000-570000 = 150000 A B C 4/9 3/9 2/9 OR 2/8 2/8 2/8 NR 32-18/72 24-18/72 16-18/72 _________________ A AND B A+B = 24000+16000 = 40000X5/4 = 50000 C—1/5X50000 = 10000 120000 X 3/5 54000 Y 2/5 NEW CAPITAL -75000X3 = 225000 90000 60000 750000 X 30000 C/D 90000 53 (A) 9811860116 120000 PROFIT-LOSS = 400X8-0 = 3200 Page 19 . 000 – 1050 = 8950.000 Debtors .000 118. 17.000 Supplier for machine 2000 Cash 5.000 Stock 11.000 28 16900+5800-2000-15200=4500 profit 24 9811860116 Page 20 . 25. 15.5 GR 5000 BAL 10000 60 .000 – 1050 – 1050 = 7900so add in PB 26 50.000 Pur 50.000 Creditors.000 Exp.5 40000X. 7500 AT COST PRICE B/D 31000 NP 52000 MODEL TEST PAPER 10 1 (A)- 20000 CASH 50000/30000 O/S 23 (B) CAPITAL . 7L-5000=695000 MACHINERY 500000 CASH 200000-5000= 195000 24 25 (A) 26 27 PURCHASE 50000 SALES 60000 (B) revenue SALES-COGS = 4L-310000 = 90000 CB(INSAAN) + 3500(5000-1500) (D) 30000 60000 30000 40000 (40 % OF 100000) 28 MODEL TEST PAPER – 11 23 COGS = 20800 + 3700 – 2500 = 22000 25000  1000  2400 10 25 CB assured 10.000 – 6000 – 5800 + 4000 = 44200(Apprentice premium is income) 27 TB Sales 70.000 Machine 10.PB 10.ACCOUNTS CLASSES BY PANKAJ SIR 54 (A) 55 (D) 56 57 (A) 58 59 800X3X500/800 – 500X0 = 1500 90000/90 = 10000 (4L-130000)/90 = 270000/90 = 3000 DEB LOSS =( 21+5%) X 2000X100 = 14000 (10L-10000)X15/100 = 148500 P&L APPN PREFDIV 18000 ED 40000X7. 72.000 + 5.ACCOUNTS CLASSES BY PANKAJ SIR 1 32 33 34 47.000 = 1. 200000 90000 30000 320000 Page 21 .000 5 Cash to bad deht recovered. Sales – profit = 90.000 = 72. 52. 15000-660+2150 = 16490/-. × 90.72. so mohan a/c will not be used Drawing a/c dr.4800 IOC 7700 385 7315 C 1 5 42 : 22 : 16. (Insaan) 3000+ 1/5 = 33000+6600 =39600 BOOK QUESTION OF JV A B 50000 30000 3000 1800 2500 Profit = 4339 2926 A B 29 30 31 54. repair NiL as old machine 20.000 = Purchase – C/S.000.147390=C(1-15%)^3 Cr.000.000 + 5. COGS 150000 Stock 40000 Debtor 60000 FA 50000 Exp 20000 Sales Capital Cr ______ 320000 9811860116 100 01/01/10 => 147390 × 147390 61.000 – cls.000 + 10. 21 : 11 : 8 MODEL TEST PAPER – 12 23 O/S + purchases + direct expenses – C/S 8500 + 30700 + 4800 – 9000 = 35000 24 01/01/07 Cost 25 26 3 Years Trading 19500 25000 400 12000 1000 GP 16100 TB Dr.000 – 5. 53. (102000+73000) = 49.00. so 10 × 460 + 3 × 450 = 5950 15000+1000+500+1200 = 17700/- 48.175000* 5/4 = x 5 8 1 10 42 80 3 8 1 10 22 80 => 175000 × 5 1 × = 43750/4 5 12500 Profit .000- OR SR NR 4 * 5 x. so. cls = 28. To cash 60.000 = 25.41 240000/-. 50.000 45 – 32 = 13 units. ACCOUNTS CLASSES BY PANKAJ SIR 28 29 31 33 40000 + 1000 – 2400 – 53600 = 41000 – 56000 O/B C/B = 15000 Profit Sales – G. Purchases = 100000. 5000 10 100 39 16000× = 10000 160 100 40 34200× = 45600 7500 41 CP = 40000 100 SP = 40000× = 50000 80 5 Commission × 50000 = 2500 100 5 1 42 ×(48000-6000) = ×42000 = 2000 105 21 45 4200-(3000-400)+420+30 = 4200-(3050) = 1150 46 Purchase = COGS+C/S-O/S = 158600+25400-44000 = 140000 47 Capital A/C 550 5000 650 2770 120 500 6950 48 Trading 9600 24900 11850 3500 200 6750 49 Provision For Balance To Bad Debt 2500 1870 370 1000 51 Consignment 7500 600 52 10500 7500  600  1200 100  20  1860 1200 775 2285 400000 – 310000 = 90000 9811860116 Page 22 . 5×600 = 3000 5000  500 450 38 = 450 => = 9%  100 .C/S = 100000 – 64000 = 36000 5%(460000 – 7500) = DIVIDEND = 22625 900000 = 7200 Shares 125 34 Share Capital => Called Up => (3+2+2)*100= 700/35 CR = Paid Up – Loss On Reissue.= 500 × 6 – 500 × 1.P = 80000 – 20% = 64000 COGS. = 2500 Share Forfeited With Paid Up. ACCOUNTS CLASSES BY PANKAJ SIR 53 54 56 57 58 59 60 10950 – 4950 = 6000 Balance. Premium =990000-900000= 900000 110 10 ×5000×100 = 50000/100 MODEL TEST PAPER 13 20 © 700000+100000-15000×2 = 770000 21 © 140000 CPIL => Above Cost 40000 capital. 25 TB Cash Bank Purchases Rent (a) 26 © A B C 3180 6900 725 150 Dr 7200 7200 3600 2:2:1 Wrong 27 10955 Statement Showing Diff Cr Dr Cr 6000 1200 6000 1200 6000 2400 1:1:1 Correct A 1200 B 1200 To C 2400 B/S B/P Cr Loan 32 WDV 40000.LAst Will be 2000 + 120 = 2120 A B C D 3 2 1 OR 6 6 6 4 8 SR 12 12 5 4 2 1 NR 12 12 12 12 A:B:C 1:0:0 Trading 1200000 1300000 225000 G.Profit Of 100000 5000 400 800 1500 4000+2000 = 24000.60000 Revenue. Stock 2400 Cash 1800 Plant 1000 Drs 500 Investments 2000 30000+3000 = 33000 Sales C/S = 9000 Profit (a) 9811860116 Page 23 .P 325000 DR. 10200 30400 +28400 37900 2700 Cash sales Credit 1200 +37900 Sales 13800 66300 20% on Sales => 25% on Cost 9900000 = 9000000.= 2000 Instalment 3 6000 + 360 – 2000 + 360 = 4000. 2010 (DOA).000 = 180 100 NTM: Here ignore no of days of grace 26.33% on cost = 25% on IP 1.Renew for = 1 month NTM: So int will be charged for 1 month always calculate the int for the period for which bill is renewed New amount will be = initial amount + interest for 1 month.33% on IP Cost price = IP – profit 33. Bill drawn for 45 days Date of drawing 25 Jan.000 – 20y (1.02.50.000 on consignment To Consignee’s A/c 40.2010 – 05.00.Date of retirement = 13. (a) 24.000 8.= 5000 + 5000 × 1 12 25.2010 (DOR) No of day for which Rebate will be calculated = 90 day – (DOR .00. 1. Dr.000 = 80.ACCOUNTS CLASSES BY PANKAJ SIR 33 Credit Sales60000 -25000= 34 2430+1390+260-1710 PB Insaan= 2370 23.02.66% on IP Similarly (WN2) IP = 10. Consignment Account To goods sent (WN1) 80. = 5000.03.58. 12 × = 5000 + 50 = 5050 Ans (b) 100 Date of acceptance = 05.58.000 By Stock at cost (WN1) To Profit 38.000 20% on cost = 16.000 – 20.000 1.000 9811860116 Page 24 .000 .00. 2011 + Days 45 days 35000 (a) MODEL TEST PAPER – 14 th th 11 March 2011 + 3 days of grace 3 days th 14 March 2011 Hence Ans.03.DOA) = 90 – (13.000) 25% on cost = 20% on IP 1.000 WNI NTM: Important table for exam IP = 1.000 By Consignee A/c (Sales) 1.000 (Invoice price) 100% on cost = 50% on IP Profit = 25% on cost = 20% on IP 50% on cost = 33.00.2010)= 90 – (36) = 54 days Rebate = 54 × 360 12 × 10. Amt. 000 TOR 4. purchase and closing stock.62.000 NTm: Just remove profit from op bal.000 – 20% (10.000) = 8. 27.000 loss Old Ratio of J and R = ||.500 × 15 = 4575` 100 28. Rohit and Sumit old Ratio = 543 Amit Old share + Share gained 5 4 12 12  3 4    12 7  + 47 New share 84 34. Anil.000 33. Cost of 1000 pkts @ 300` = + freight & insurance for 100 pkts 30. = 6000 – 5150 = 850 Share capital A/c Dr by 100 × 10 (FV).000) = 16.   = || 4 2 2 4 2 ie 4.000 500 Total lost for 100 pkts 30500 Costly damage = lost of 15 kpts =30. 9811860116 Old Rohit +   3 3     12 7  37 = 4737 84 Sac Gain New Page 25 .00.000 entry will be u a/c 8. = 1000 since all Money is called up Contract price 2.000 TOJ 4. 31.000 Less paid wages (60. (1.000 and 4. 30000+500/100*30+1300/85*30.000 Which is to be credited to J and R in the ratio of their sacrifice ie 1 - 2 3 1 1 3 1     . = SP – cost.000 Add value of cl stock 6.000) Less 32.ACCOUNTS CLASSES BY PANKAJ SIR IP = IP – Profit = 10. 29.Loan = Premium for good will = 8. SO ANS NONE OF THE ABOVE Good supplied + expense Total By large 2500 + 200 2700 By elder 2000 + 150 2150 Total 4850 + Commission (6000 × 5%) 300 Cost 5150 Profit of venture 30. opening stock and purchases are adjusted in cost of good sold 37.000) = 10.000 NTM: Closing stock.00.  in income cr.000 To income tax 1. 20. Sundry Creditors A/c Dr. 20. 2000 To Recovery of loon 1700 To Staff welfare fund 100 To dividend income A/c 41.000 50.200 800 10. Because concerned with daily to day recurring expenses to be revenue.000 (10. Profit = Sales – Lost of Goods sold = (40.000) Add cheque issued but not presented Overdraft as per bank statement 6.000 = .00.500) (3.000 – 30.000 = Nil 15% 35.000 To professional tax 40. 200 To EPF Cash A/c dr.000 A’s capital A/c Dr.000 (Liability a) 42. (13.8.  in liability dr. Good will = 36. To P & L A/c 50. Suspense a/c dr. 50. Balance os per cash book Less: cheque deposit but not cr. 720 To opening stock 720 9811860116 Page 26 .000 (profit s) (‘s capital A/c Dr.500) 38.000 39. TDS A/c dr. 20. Salary A/c dr.000 (share of) B’s capital A/c Dr.000 (So capital s) To sundry creditor A/c 60. 9. 43.000 To cash 45.ACCOUNTS CLASSES BY PANKAJ SIR Rachna Sapna Ashana 1 1 2 2 1 1 2 2 × × 0 1 1 3 3 1 1 3 3 0 1 1 3 3 111 Profits doingyear × 10 – Capital Rate of Return 12. for 2008 @ 15% p. 51.400 Misprint in module = Final in place of first Called up FV = 10 Entry will be (i) SC 1000 Less non paid call 2 To forfeited shares 800 8 To call in arrears 200 9811860116 Page 27 . Loss on 04.00.000) + (10% × 80.000  50. GW = Aug profits × No.352.000 4   45.000 (5% × 8.000 100  Rate 100  10 Loss on issue of debenture= Discount on issue of debt. × Rate = 22.82. for 2006 @ 15% p.000 × 6% = 18.01.000)= 10.000) = 18. No of share issued = Purchase consideration = 1. (12.75x) 72. 49.218. (10.000 Product method 3.00.406. Given in module is incorrect.000 × 10 = 2.50.000 shares (2.625 rd Less dep.000  =   × 3 = 1.000) + (5 × 2.47.000 st Less dep.211875) 52. 50. Let lost on 01. Cost 10.390 = 2.000 Issue price 46.a. 100x (15x) 85x Less dep. + premium redemption = 6% + 4% = 10% on (100 × 1. for 1 year @ 25 Less dep.4125 Less dep.00.ACCOUNTS CLASSES BY PANKAJ SIR 44.200625 By following unitary method.25 4.75 Less sale 1000 3. for 2 (10  5) = 10.000  50. 54.a.500) 7.000  60. of years of purchase  40.00. (9.2006 be Less dep. for 2009 @ 15% p.01.8375) 61.218.94 Ans. for 3 year 1.75 47. for 2007 @ 15% p. 48.2006 = 1.a.a.50.500 nd year 1875 5. 52. Commission = NP be for change comm.25 Less dep. Interest received 9811860116 Amount 1.000 (1000 .000 10 BOOK QUESTION DONE IN CLASS Originalcost . Discount on issue of debtors 15.7) 5 On reissue per share to be transferred to capital reserves.000 Add: transportation 10..000 × 100 20.00.00 3750 Cash at bank 5.20.000 Discount = No of debentures issued × discount per debentures= (2.000. Cost of consignment Add: packing and loading MODEL TEST PAPER – 15 1.000) = 30.000  60.20.000  40.000) + 10% × (2.000 (in asset Dr.6.Salvagevalue 26. 5.50.000  1.00.65.000 1 10 24.000 6 Useful life Balance Sheet Liabilities Amount Assets Capital (bal fig) Owing to 2 ltd. th Discount = Discount × Amt o/s at 5 years sum of amount o/s at all the years To be written Amount = 6 × 1.000 (in income Cr. Unrecorded investment A/c Rs.100) 56.00.00.000 Add: insurance 5.000 .000 60.000 58. 32.000) = 12.000 Cash in hand 10.000  80.00.85.000 Depreciation = = = 20.000 T cost Abnormal loss = 1.000     = 400  20.) NTM: Revaluation is income/nominal account 57.On 100 share @ 5 = 500 Rs. of total cost of consignment= 1 (1.000 ( in liability of firm) To A’s capital 10.000 ( in capital of a) 23.000 To cash 65. 25.00. Amount forfeited on = 250 × (10 – 3 . Entry – Plant & Machinery Rs.2000) = 250 59.ACCOUNTS CLASSES BY PANKAJ SIR Less discount (10 . Liability dr 10.000 To 6% debtors 1. + CR.000 250 Stock 20. Loss on issue of debentures = Discount on issue of deb+ Premium on red of debentures = 5% × (2.) To revaluation a/c A/c 5.00.000 5.000 Page 28 .000) × 100 = 15.4)= 750 Amount to of CR = Share forfeited – Discount on reissue750 – (250 × 10 . 2.000 55. 000 10. 41. NIL BIR A/c Dr.89.454 35. 1.800 + purchases + 0 – 6.454 in the book of ritesh.500 Prepaid incomes 500 1. 500 Cost of goods sold = opening stock + purchases + Direct expenses – Closing stock 80.000 Plant & Machinery` 50.860 Page 29 .800 – 9. Dr.000 Dinesh Dr.700 = 5.500 + 30. To Rajesh 10.000 = 35. 36.750 Dues from customers 34.556 Sen Gupta’s drawings 564 Tea bold dermises 750 Sale 2.200–70.000 33. 20.000 Owing prom max 12.89. 5. Opening stock 9811860116 Trading Acc 2.000 Corrected Trial Balance Dr. Sen Gupta’s capital 1.400 42. Cogs = op stock + purchases + direct expenses – close stock= 8.400 Sales Cr.900 = purchases NTM: Adjusted purchase = op stock + purchase – closing stock 40. 10.700 + 4. 530 Purchases 264 Loan from bank 256 Godless 528 Trade expenses Cash at bank 700 226 Bills payable 100 Salaries and wages 600 Opening stock 264 Rent and tanes 463 Sales Return 98 5.000 To discount received 39.500 To BIR 10.80.30.000. Cr.000 GP=Sales–Cogs=1.800=59.ACCOUNTS CLASSES BY PANKAJ SIR In advance Land and building 1.00. 000) (2.020 Carriage inward 524 Manufacturing wages 2. × Annual Production Unit During 1-3 TotalProductionDuringUseful Life Depreciation for 1-3 years= 11.20. Opening provisions for baddebts Less bad debts = 1250 Cr.000) Dr.06.000 100   46.14.840 4.24.000 = 183333.332 30.00. 58.000 (Abnormal loss) 24.000 11.000 5.400 × 20 5. Less provision to be maintained = (500) Dr.800 Closing stock Manufacturing wages o/s 3.000 2.000 44.000 2.000 × 5.14.ACCOUNTS CLASSES BY PANKAJ SIR Purchases 15. Cr.00. = (300) Dr.02. Sale Less cost 2.000 Cash in hand Accounts payable 68.400 Less dep @ (9280) 20% 37.50.205 Less return outward 185 Less return inward 860 20.000 Inventories 16.000) 9811860116 Page 30 .000 Investments 2. Annual = Depreciable Amount = 450 Cr.000 47.840 96 Add.000 4.000 1.000 Cash at bank Wages payable 1.280 10 45.000 ) = 9. Loss due to fire UP 1.840 B/s Amount Assets Capital + NP (26 + 96.00. Cost Less acc dep.840 43. Amount 2.120 (46.600 BV at begin 46.00.000 (2.90.000 Prepaid expenses Long tern loan 30.000 15. 5    500 Amount of provision gendered to p & L 10. Liabilities 24.000 + 2.000 Bills Receivables 80. 200 × 12 1 64 52.200 1. 50.000) Less: salary to Karan 250 × 12 (3. 31 400 600 3 3 1.200 Dec.600 × 1 Karan × 8% 13. 49.000 WN2 Amount Date Mouths Product Ratan Karan Ratan Karan Ratan Karan June 30 600 800 9 9 5.000) (100) Less cheques drawer out not pressured for payment (6.800 9.000) Add: Inton drawings wn2 (64 + 88) 152 Divisible profit 4. Negative balance as per pass book Less chaques drawn but not record in cash book (10.200 Total Ratan Lat 9.000 × 8%) 800 2.000) Less selling expenses (3.000 × 8%) 1.ACCOUNTS CLASSES BY PANKAJ SIR Less Discounting charges (5.000) Less commission to B (25.000) ` 3.000 48.200 Sept.200 Int to Karan (10.130) Profit before interest and capital Less: out on capital (WNI) 8.000 WNI Int to Ratan (15.000) Less bank charges recorded tense in cash book (30) Overdraft (Negative) balance as per cash book 51.400 7. (00) (16.000 4.848 (2. X 88 Old 5 8 9811860116 × 8% 12 Gain Sacrifice New 5 8 Page 31 .000) Less into capital (12.600 13. 30 500 700 6 6 3. 000) = 26. (Old – New) Old A B Gain Corifice 4 1 3 9 9 9 3 1 2 9 9 9 2 C New 0 9 2 9 D 2 2 9 9 Sacrifice Ratio of A. (6% × 10)` = 0.W. 70. Total capital to be employed = 14.000 To share forefeet ace (40 × 100) 4.000 5 Hidden G. B and C = 110 So A and B equally 55.000 + 12.000 – (18.000 ÷ 1 = 70.000 58.000 + 14. = Total capital to be employed – total capital actually employed by all purchases. Old 5 X New 0 Sacrifice 5 9 Y Z Gain 9 3 1 3 9 2 18 2 1 7 9 2 18 Gaining Ratio = 37 56.6 paisa ESC 100 × 100 = 10.000 To discount (bal fig) 10.000 54. TotalDiscount 59.ACCOUNTS CLASSES BY PANKAJ SIR Y 3 1 2 8 8 8 C 1 1 8 8 521 53.000 To call in arrears (50 × 100) 5. No of years of term of debehture 9811860116 = 2000 = 400 5 Page 32 . 57. 25.000 Lost Residual Value = × 100 = ie Opening stock Purchases 13.570 Sales 26.000 Depreciable Value Depreciation per year as per SLM = No of useful life years = 2. 50. COGS = OPENING STOCK + PURCHASES – CLOSING STOCK.000 × 5% = 22625 MODEL TEST PAPER – 16 24.350 Sales 50. Call up 4.75. Rent paid= 55.000 29.000 50.880 23.52.45. Opening capital Add additional capital 3.000 .000 = 5.000 Less int on drawing 12 × 2.000.60.000 × 1=5000/ 11 30.000 9811860116 Page 33 .000 Less call in arrears 7500 Proposed 4.30.000 Add: Bad debts doing year 25. NTM: Proposed dividend if nothing mention is given on only paid up share capital.724 8.000 + Purchases – 10. Cash sales Add: cash collected from Drs.O/s rent for month of march = 55.604 27.000 Purchases = 1.816 Less Purchase (390) Import changes 1650 Gross profit 2958 Ref per years 10 × 100 = 8% Cost 15. = 14. 28.248 Less SR 524 13.00.5.000 TRADING ACCOUNT 5.Rate of depreciation = 2.52.000) Add profit 20.000 Less drawings 2.5 12 32.000 No.000 × 12 (24.1.000 per years.00.426 Closing stock 23.000 × 6. × 5 100 - (650) 3.500 NTM: Goods taken up by employer is not considered as sales.500 Dividend @ 5% = 4.500 7.604 Salary To Purchases 7.000 Add: Good to taken over A 4.000) Sales 1.ACCOUNTS CLASSES BY PANKAJ SIR 60.000 1. of Useful life Years 25.000 Less debtors at beginning (10.05. 5. 00 36.000 – 65.800 = 164 per unit 450 His commission per unit= 1 (Gross proceeds prunit rate of 125` .ACCOUNTS CLASSES BY PANKAJ SIR Less Cost of good (42.000 65. 3 3 2 8 8 8 =3:3:2 Indirect expenses will be excluded. Let his commission be = x + 25 per unit of sale.000 = 65.8 4 9811860116 Page 34 .30. OLD 4 A NEW 5 9 8 3 B 0 9 C 37.500) Profit 33.Gross sale proceeds per unit = 73.15) = 100` 38.000 × 5 = 65.= 60 – 45 = 15 per share.500 Cost of march in Less Residual value 1. Godown rent 800 Selling expenses 1.000 st th Depreciation for 1 to 5 years = 13. Old Mohan 1 Krishana 1 2 2 1 Sacrifice = 8125 8 × 2 1 1 4 2 × Ram 0 1 4 Gain New 35. 11.30.000 5.25) x = 2.000 = 65.000 18.35.Commissioner) 4 = 1 (164 – 125 – x .000 Depreciable value 1.Depreciation per year = 13. Amount transfer to CR = no of shares reissued ×(amount received – loss on reissue per share) = 20 × (20 . 13 72 3 9 2 3 11 9 8 72 Loss on reissue = paid up value – Received amount on reissue.000 Depreciable value after = 1.000.000 Revised useful life 34.Useful life-10. 000 = 400` NTM: If nothing mention about future profit share ratio.000 = 500` .000 38.00.500 To discount on issue 10 × 100 1. Discount on issue of debentures = 1.250 Guaranteed profit 40.8 = 27. balance as per cash book 3.= 44.000 9811860116 Page 35 . Amount received on 250 shares which were reissued = 250 × 3 = 750 Loss on reissue = 250 × 10 – 2.000 st In all the years ie from 1 to fifth year.8 . (1.000  80. Acquiring ratio is the gaining ratio ic 6 : 4 or 3 : 2 Dr.000 To call in arrears 25 × 100 2.00.000 To C by A Less profit Distributed 38.000  60.500 1. 52.500 Answer already given in question. Profit for the year 1. 50.ACCOUNTS CLASSES BY PANKAJ SIR X = 2.000 + 2.00.So his total commission = 27.510 40.000` 42.27.000  40. 47.60.Amount transfer to capital reserve = 750 – 500 = 250` 43.00.000 Less interest on partners capital (3.000 100 Amountout standingin fifth year Discount to be written off fifth years. Loss ou issue of debentures = Discount on issue + Previon on redemption (5% + 10%) of 1.= × Discount + Amount some of all the out standingamount 20.000  20.000) × 5% 32.000 × 6 = 6.50.250 38.250 Sacrifice made by A to C 48. gaining and Sacrificing ration. JE on forfeiter Share capital (100 × 100) 10.8 × 450 = 12.000 + 1. then old ratio will become the sacrificing ratio become all the partners will sacrifice in their old ratio.000 To share forfeited bal fig 6.500 Share of profit to A B C Ratio 4 3 3 51. A B 1750 Old 6 New 5 Sacrifice 1 10 10 10 4 3 1 10 10 10 1:1 49.000 = 15.00.000) × 6.8 commission per unit = 25 + 2. Sales – Drs alter and)(45.000   100  10.000 8.000 By purchase 1.5= 12.000 Total dep.000  18.000 .700 9811860116 × 100 1500 Less Printing & stationery To capital Depreciation per year 10 usefull life 450 = × 100 = 9% 5000 24.000 (5. Cash account 10.400) Less bad debts (2.000) × 1.000 .000  9. 50.000 – 10. Opening Add cash sale 10.= (2.000 5 54.000 .600) Add apprentice prem (1000) Net profit 36. of years of purchase. 18.000   100   10  Depreciation on plant & machinery   8.66% on sales = (100) (16.000 (Cr. 56.000 Gross profit Less carriage outwards 51.000  5  400  8. Cost .500 Cost 25.2.150 GW = Avg profit × No. 35.10.000 Add Collection from dr.800) Less rent paid (6.ACCOUNTS CLASSES BY PANKAJ SIR Add cheque issued but not presented 500 Add int collected by bank 400 Add direct depositing by customer 250 Balance as per pass book 53. = 450`Rate = Page 36 .66% on 600) 500 Closing stock will increase by 500 NTM: always take opening and closing stock at cost ie logs values.00. MODEL TEST PAPER – 17 23.Residual Value = Depreciation per year 5.000 – 800 = 4.000) Cash bal at end 55.200` Sales value = 600 Less profit 20% on cost ie 16.5.400 Book yalue of machine = exchange value of march= loss on exchange = 5.0000 5.000  10  Depreciation on furniture Depreciation on building  5   2. 57. 4. Purchases Purchase 5.000 By expenses To Debtors 19.5  25% on sale = 33. 28.000) Closing stock Carriage & freight 4.000 (2.000 Sales 1.60.000 Dr. Over draft as per cash book Less cheque deposit but not cleared 9811860116 4.47.000 Creditor 30.000 By bal cld.10.000 2.000 Cash at bank 5.000 Duty & clearing charge 30.000 Purchase return Sale return 1.000 2.33% on cost Sales 29.500) (1.000 Gross profit 60.000 Less sales return (6.000 Fixed assets 50. Interest on capital = 2000 × 12 × Cost of goods Add profit 33.000 62.000 Capital 94.000 Sanding expenses 20. 26.000 By creditors 15.60.000 Sales 3.000 4.500 Dr.000 Debtors 80.500 2.700 Cr.33% on cost 10.000 Opening stock 30.47.000 2.000) Page 37 . 6.94.00.300 35.000 Cr. Reserve fund 20. 60.000 Purchase 4.00.000 4.000 12.000 O/s exp.000 Wages 8.00. 2.000 31.000 TRADING A/C Amount Purchases To opening stock Less purchase return × 10% = 1300 12 7. Amount 80.ACCOUNTS CLASSES BY PANKAJ SIR To sales 5. (10.000) 2. 000 Less depreciation for 2007 2. Amount 20. Equity share capital called up Less calls in arrear Equity share capital paid up 10.000 Bill Receivable 5.000 1.550 14.550 + 2.100 Dr. Cr.000 Liability for expenses 3.000 9. Less depreciation as per WDV 7.000 Cash at bank 8.15) = 150` 38.5 12.16.5 = 7.Loss on reissue per share = 60-45 = 15 Amount transfer to CR = No of share reissued × (Paid per share – loss ion reissue per share)= 30 × (20 .717.800 9811860116 Page 38 .5 Depreciation as per installment = 3.200 1.000 Depreciation provision 4.000 NTM: Dividend is paid on paid up capital excluding calls in advance.000 Machinery Creditors 37.90. 40. Add cheque issued but not cashed 1.000 Proposed dividend 5% on 9.000 40.000 4.167. 1.5 Depreciation as per WDV = 3000 + 22.5 Debtors Less bad debts written off 1.16.450 Less depreciation for 2008 2.000 76.400 Over draft balance as per bank statement 2. 41.000) Stock 40.60.000 Bills payable 3.282.ACCOUNTS CLASSES BY PANKAJ SIR 33.000 Amount paid on Share forfeit per share = 20`.95.000 .167.000 Less depreciation for 2006 3000 17.60.717.000 × 3 = 9.000 Cash 3.000 = 48.5 = unabsorbed depreciation 1.000 30. Discount on reissue = 200 × 1 = 200` Depreciation as per WDV: Cost 20.000 Add net profit + 18.00. Liabilities Capital Less drawings Balance Sheet Amount Assets 70.000 (12.000 Debtors 40.282.000 42. 000 Less sales return To gross profit 44.000  50.90.000 2000 Add import Duty 7.000 4 46.000) 70.000 Less dep @ 10% (2. profit × No.580 Page 39 . Goodwill = 40. 70.200 1620 14. @ 10% rd BV as at end of 3 year 9811860116 16.5 = 1. 300 interest payable & outstanding 300 Cost 20.000 × = 600 100 47.000 Sales 80.000 Less: Depreciation for 3 1 years @ 10% ie from 1 july 2006 + 31 Dec.000 Cost price of machine Add Forwarding 10.800) BV as at end of 2 nd year Less dep.000) 2 (20. 6 Interest on loan 10.000  50. Amount (10.000 70.800 × 4 = 7.500) Add bad debts 4.5 × 10 ) by = 13.ACCOUNTS CLASSES BY PANKAJ SIR Provision on debtors @ 4.000 Add installation expenses 1.000 Goodwill = Avg.000 100 Sales consideration 15.000 20.000 Less BV 13. 2. 2009 (7.000 × 3 = 1. Cr.200 Amount of net provision debited to p & l A/c 5.000 50.000 × 3.50. Particulars TRADING A/C Amount Particulars To purchases 60.632 100 Less provision of the beginning 43.000 Profit on sale 48.000 .000 st BV as on start of 1 year 20.000 Less dep @ 10% (1.000  60.332 Dr. Less Int dr. of years of purchases.000) st BV as on end of 1 year 18.000 Less purchase return 10. (6. 170) Less expenses by A (1.000 (65.10) × 10.000.000 Less SR (10.00. Let the commission be = x + 500 2000 . Particular Dr.630) Add closing stock 6. 36.200) Add drawing 4.000` 72.12.ACCOUNTS CLASSES BY PANKAJ SIR 52.000) 2.Paymentby cheque = 1.800 × 100= 2.000 shares 10.000 = 5. Cost of machine on1 jan.900 (15.10.000 Issue price = 10.000) = Net profit during the year 4.800 Less additional capital introduced (2.12.x .200 Profit 57.15.000) Less Admin expenses (3.000) Less selling exp.00. Let the cost of machine on jan.x  15. Sale Less material purchased 1.500 .5 Securities premium = (10.000) 9811860116 Cr. 2007 be Less depreciation for 2007 100 x (10x) 90x Less depreciation for 2008 (9x) 81x Less depreciation for 2009 (81x) Balance as on 1 Jan 2010 72.45. TRADING ACCOUNT Amount Particular To opening stock To purchases 3.000 55.500 MODEL TEST PAPER – 18 23.000 60. Amount 80. (6.10.400 Closing capital Less opening capital 16.000 Closing stock 4.000 By sales 4.500  Commission per television =  X = 400  X + 500 = 4 4   Commission per television = 400 + 500 = 900.Total commission on 50 + television = 900 × 50 = 45.9 24. No of shares = Purchase .000 Page 40 .000 Less purchase returns (6.94.000` 53.5 .00.000 .9x By following unitary method.000) Less wages paid (6. 2007 = 1. 000 Debtors 10.000 Add int on loan of 50. Carriage amount 12. i. Cost price Add repairing expenses Add miscellaneous expenses Total cost Cr.000 @ 18% 750 Add int on loan of 1.000 1.000 .50.000 To Gross profit 62.000 9811860116 Page 41 .000 10. 33.000 67.000 30. Apply Product method Total expenses Freight 3.000 Creditors 5.300 Furniture 2.000 4.700 Expenses 19.60.000 500 11.000 Total 13.200 12.60. 12. 50.700 NTM: Repairs on second hand assets to get than ready for use are to capitalized ie added in lost of accusation. 4.e 25% on cost 2.000 Trial Balance Particular Cash Dr.000 .000 1.000 67. 31.375 Purchase cost Add repairs 10.000 @ 18% 4500 Add selling expenses 5.5000 Add profit 20% on SP 30. 34. 5.ACCOUNTS CLASSES BY PANKAJ SIR 25.875 (11.000 Add legal expenses Add commission to broker Amount debit to car A/c 500 1.250 Purchases cost 10.000 Sales Purchases Capital 27.500 × 25%) 14. 480 58.000 Carriage & freight 1.200) 64.33%) 10.000 Call of value of closing stock Closing stock uni is (300 .33% on loss = 52. for 3 years 8.500 (7.500 × 33.ACCOUNTS CLASSES BY PANKAJ SIR Shipping charges 2.000) 72. 42. 19.400 300 36.500 Transit Insurance 900 Unloading charges 400 Octroi 600 Carriage 800 Total cost of 300 units 79.500 2. Cost of 100 units of closing stock = 79.000 Amount dr. (5.488 7.832) Cost of goods sold Profit 32.200.000 40.000 Import duty 7.Date of maturity = 2 nd after 2010 + 1 month + 3 days of grace Sacrifice 3 5 1 5 10 10 2 3 1 5 10 10 ie 1 : 1 A B C 18.000 Less dep. boiler a/c 35.000 (8.320 th Less dep for 4 years 39.000 9.500 Page 42 . Cost @ 250 75. for 2 nd years (7. Original cost st Less depreciation for 1 year 80.500 Profit as per ratio 9811860116 nd after 2010.200) = 100 mt.200 × 100 = 26.000 4. PSR = 4 : 2 : 1 Profit = 31. Old New A B 43.800 rd Less dep. Date of acceptance ie sight = 2 th = 5 may 2010. 00. 55.000 56.00.000 1. = no of shares reissue × (forfeited amount – Loss on reissue)= 15 × (20 – 15) = 75 53.000 Invoice value = cost + 25%= 10.000 Rate of Return 10% Discount is written off: 5 : 4 : 3 : 2 : 1 Because initially the amount of loan O/S is grater and then reduces by equal amount. No of debentures issued = 54.00.000 11.10%) Discount amount = Discount per debenture × No of debentures issue= 100 × 150 = 15. 1.ACCOUNTS CLASSES BY PANKAJ SIR Sacrifice by A to C (3.00. 58.50.Loss on reissue given = (paid up – received on reissue)= (60 . Good will of C = 60.000 By cash 20.000 1 = 12.000 By bills receivable 10.65.000. Forfeited amount per share = 20.000 By creditor 15.000 By salaries 3.000 Salaries = (10 × 1.000 5.000 By purchases 10.000 × 45.000 60.000 = 150 Debentures Issue price (1. Dr. To bal bld 20. Under sum of digits method. Depreciation for four the year= 23.000 .000 By rent 9811860116 Cr.000) + 20% = 12.000 Dr.400 By stationery 900 By Drawings 4.) 70.(1.000 35.35.45) = 15 per share Amount transferred to Cr. DEBTORS Cr.000 By return inward 1.000 15.000 MODEL TEST PAPER – 19 To capital To sales To debtors Cash Account Amount Particular 10.000 Purchase cost 10. 59.000 5 Actoalprofit .000 + 25% = 12.00.000 = 15. 52.000 10%) 49.000 2.000 By bal cld 56.000 Less depreciation @ 20% on SLM 2.000 90.00. Particular 3 6  5  4  3  2 1 × 12.000 Page 43 .000 To sales (cr.000) 3.000 Add installation charger 1.000 By miscellaneous exp.000 .50.20.000 75.000 44. 90.Normal proift = 20. Loss on issue of departures = Discount on issue + premium on redemption = (5% + 10%) of 1.60. = 50.000= 18. Good will = 9.000 By bad debts 3. Amount 2. 25x.000 Sale consideration 5.ACCOUNTS CLASSES BY PANKAJ SIR By machine 8. of machinery (3.= 25% of 40.Sale = cost + 60%= x + 60% of x= 106x = 16. 30.000 Net Profit Before Commission Commission = = × 5% = 2.10.Profit = 25% of x.500 Dr. 29.Commission = 5% of 50.Sales = cost + profit = 40.75x 2.= 0.000 . 31.000X = = 10.710 Electric charges Discount allowed × 100 = 33. Amount 63.000.500) (4.25x =0.25x Profit Let sale be x.000 50.000 = 1.670 3.260 81.670 .42.000 .% of profit on cost = × 100 = Cost Profit = 20% on sales ie 25% on cost.850 Sales returns (110) 46.000) × 5%. 81.000 = 2. By bal cld.700 57.66% on sale 600 Net profit before commission = Gross profit – Expense (indirect)= 48. Particular TRADING AND P & L A/C Amount Particular To opening stock Purchases Less returns Carriage inward 16.000 = 42.000 Wrong amount in nodule 24.260 General expenses Rent paid 800 By GP 190 Salaries 140 9811860116 14.000 – 6.00.500 To CP 14. 34.000.000 + 10.740 Closing stock Cr.Cost=x – 0. 32. Gross profit = Sales revenue – cost of goods sold = 5.33% 0. 5.500 450 63.V.90.000 Let cost be x. 33.000 42. Less commission paid (420) Less Charges to remove cash (150) Profit on sale of machinery 1130 Invoice value of good and on approval = 600Less margins 100 Note: 20% on cost = 16.000 Page 44 .75. 26.000 – 3.000 = 50.210 850 Wages 2.500 Sales 46.050 18.500) 28.000 rate  100 100  5% Commission = NP × Rate= (48.6 0.100 16.000 = 10.200 Less B.000 = cost 1.000 – 6.000 × 5% = 2. drawing 250 × 12 3.520 Sales Stock 2. 36.882 Balance as per cash book Add cheque issued.591 Creditors 1. Provision for doubt full debtor Dr. Cr.654 Capital 4. 200 Bank over draft 1. 8.670 Closing capital Less capital in the beginning 12. not presented Less cheque deposited but balance nt collected 9811860116 .670 14.923 Return inward 330 Rat and Rates 314 Salaries 2.250 Overdraft as pass book 475 38.000 Loss during year 6.660 .580 274 730 (477) Page 45 .750 20. 14. 10.983 Discount received Discount allowed 252 733 Drawings 1.200 Office furniture 2.637 Debtors 2.580 25.ACCOUNTS CLASSES BY PANKAJ SIR To net profit 35.500 6.000 Less additional capital 2.000 Add.418 Stationery 1.225 Add cheque drawn but not presented 10.175 Provision for depreciation Total 39.155 General expenses Purchases 829 10. 364 25.250 Overdraft as per cash book Less cheque sent for collection but not credited by bank 4. 000 (500) Balance of B/R 500 Less 40% received (200) Bad debts 41.000 Less reconditioning exp.800 Closing stock = 50 units (200 .000 500 Insurance 200 Cartage 100 60. 43. 527 Amount receivable was Less cash paid 1.500 5.000 C 4.000 (500) 500 1.500 Garage Rent 2.88.000 Miscellaneous exp.000 42.500 Commissions @ 2% 2. 300 Cost @ 80 (80 × 1.Value of closing stock = 60.850 Other expenses 4.ACCOUNTS CLASSES BY PANKAJ SIR Balance as per pass book 40.000 Page 46 . 250 Freight 75.150 A 20.045 × 100 = 81.000 Octroi 3.045 Abnormal loss = 81. Sale Less purchase cost 1.000 1.500 Profit 44.150).750 Insurance 1.045 1.500 Brokerage 6.500 15.000 19.000 Add cartage 45 81. Profit as per ratio Guaranteed profit to c 9811860116 36. Cost @ 300 Freight 60.000) Add freight 80.500 80.800 × 50 = 15.000 B 16.200 200 43. 000 5 3 Cash paid to x will be = 1.30.000 shares 10 .= 9.= 2.000  80.000 = 90. Discount on issue of debentures= 57.Normal profit × 100= 72.70.000 × 10 = 30.70.48.000 Less call in Arrear 10. 75000 ÷ B 54.000 60. no loss is given on reissue there fore all the amount of forfeiture is transferred to CR.000= 40.10% issue price 2.ACCOUNTS CLASSES BY PANKAJ SIR 500 each 46.000  2.000 Dividend is paid on paid U/o capital.W.000 53. 48. = Average profit × No.000 + 16.CR = 8 × 400 = 3200 Amount transfer to CR = 3 × 500 = 15.000 – 90.= (2% + 5%) of 2.02.000 = × 3= 1.000) Normal rate of return NTM: Normal profit = Net assets × Normal rate of return 51.000 × 15% = 1.X’s adjusted capital =  1  1 3  × × 2.00.70.000 for 4 share for = 2.000 52.000 × 10 = 10.500 Page 47 .000.000 90. 49.so.000 90.= = 10.20. Loss on issue of debentures = Discount on issue premium on redemption. 58. 1 th Capital of A and B = 24.00.500 60..90. total capital shall be.25.000.10% (9.90.000 5 Good will = Actualprofit . 54.5000 10% 1 th share of C capital be brought by c – 40.000 1 3   . 55.000 Called up capital 1.1. Cost price 9811860116 7.000  10.00.000 No of share issued = .000   × Discount per share= Issue price 90   56. Share forfeited amount per share = (10-1) = 8 .000 × 100 = 14. New profit share ratio  1  3 15 A = 1   × =  6  6 36   B = 1    C = 1  D= 1 × 6 1 2 10 1 1 5  × = 6 6 36  × = 6 36 6 6 = 6 6 36 15 : 10 : 5 : 6 47.4. Initial capital of A 1.000 Z bring 75.000 = 30. of years purchase 40.000.000.000  20.B’s sacrifice 1 × 1 = .2 : 1 5 4 5 2 5 2 10 10 G. A’s sacrifice 4 × 1 = 1 × 1 = 2 .25.000 Paid up 9.20.000.000 5 × 4 5 1 5 = 10. 35.000 O/s expenses 5.33% on cost 10.000 To rent paid 2.000 To general expenses 5.55. Cash 2.500 ie.500) × 2 = 570 100 29.000 = 11. Gross profit 25.40.000 Investments 25.000 39.000 4.000 2.000 Less drawing 12.000 Pant & machinery 60.20 23.000 Bills payable 10.700 .40.000 70.000 Furniture Bills receivable .65.500 Less provision for discount (28.500 For baddebts 28. 27.000 9. Dr.000 1. To salaries 10.000 24.000 Bank old 15.000 Debtors 35.000 Stock 25.000 P&L Acc 4.000 By gross profit To intone overdraft 26. 39.100 To advertisement 5.000 To net profit (bal) 17. Amount 200 By commission received Cr.ACCOUNTS CLASSES BY PANKAJ SIR (+) loading @ 25% on sales 2.000 Good will Capital 1. 33. BALANCE SHEET Amount Assets Liabilities Creditors 45. Loan @% Interest Less int 9811860116 10.000 = Sales – Cogs = 30.000 Add NP 22.000 To office expenses 5.000 Amount transferred to general trading A/c MODEL TEST PAPER .000 900 600 Page 48 .000 1.000 – 19.000 6.000 50000-10000-1600=38400 Debtors Less provision 30. ACCOUNTS CLASSES BY PANKAJ SIR o/s inton loan 300 30.000) × 100 3 = 337.= 9 (15.5 36.000 – 1. 70.250 Add cheque issued not presented for payment 12.320 By depriciation To Bank 32. Profit after interest on capital = 7.X = 2.000 5.760 5.000 31. = 9 (15.000 + 4.750 Let his commission be = n + 25.5 12 1. stock on approval – sale on approval – profit margin5.680 5 Gita 7.000 Page 49 .510 40.From 1 January 9 – June 30.800 i.800 × 2 = 3.8 + 25) × 450 = 12.000) × 100 6 1.000 = 4.000 Less BIP paid by bank not entered in cash book 800 Balance as per pass book 38. Dr. 6.120 5 37.000 = 5.867.800 1.Sale proceeds per units = 73. 96. To Bal b/d Loose Tools A/c 4.000 + 5.800 = 164 450 Commission per unit = (164 – 125 – 25 . Cr.000) × 100 3 + 450 12 th st + 15 October – 31 December = 9 (15.800 × = 4.300 Less cheque sent to bank bal not credited 2.8 4 Total commission = (2.00 Bank overdraft as per cash book Less cheque sent for collection not collected 10.440 By bal c/d 4.35.000 + 5.080 12 st + from 1 July – 30 sep.500 8.000 2.000 – 20% on 5.000 Balance as per puss book over draft per unit 39. Balance as per cash book Add cheque issue but not presented 10.760 st Int on loan @ 9%.x) × 1 + 25. Cost = Residual value = 9811860116 1.680 5.e distributable in 3 : 2 3 Sita 7. 900 + 73. A Old – 5 B C sacrifice 1 8 10 3 1 8 10 + gain = 1 0 A Old 3 5 B C Sacrifice 3 1 × 5 5 2 3 5 5 0 × × Weight A of profit = 8 = 8 8 40 + gain = New 12 25 2 6 5 25 0 + 3 + 25 48.00.500) × 5 4 50.16.430 46.3.000 Less commission to B 12.50.000 = 131.000 1 2  3  4  5 = 65.00.000 .000  4  65. Capital amount of mohan will be = (1.000.5000) × 1 = 8.000 9811860116 Page 50 .000  5  85. 11 40 5 47.35.100 5 = 2.000 Cost of goods sold= 2.000  2  50.430 12. = New 21 = 40 4 7 25 25 1 43.500 Profit 35.35.70. Sale consideration Less purchase cost 2.000 = 54..000 – 2.000 Add drawings 3.000 = 84.02.Closing stock purchases – Cost of goods sold.000 Less addition capital 4.5.16.000 Profit 3. Sales Less profit × 1 = 44.65.000    ×5 10   th Depreciation for 6 year = (70.500 Closing capital Less opening capital 16.ACCOUNTS CLASSES BY PANKAJ SIR Useful life 10 yrs.000 -  1.000.200 49.000 2.Balance at the th Beginning of 6 year = 1.125 8 44.000 Less commission to A 2.000  3  52. 45.000 Good will = 2 × 6. by(2.000 53.00.000) 4.2.= 500 (10 .200 5 1.23.00.= (0 + 5%) × 2.550 Excess amount = salary paid + cost price of goods – salary = 6.30.40. Discount = 30. 110 Issue price Loss on issue of debentures = discount + premium .000 deb.000 1 Amount of discount to be written off = 1.000 6 th Discount written off in 5 years. 2 = 600.000 × 100 = 1.000 = 2.000 st To 1 call (35 × 13.000 – 10.000 × 12 × 100 54.500 – 1.= × 1 = 400 5  4  3  2 1 VOLUME II MODEL TEST PAPER 1 22 (C) 23 (B) 24 (C) 25 (A) 26 (B) 27 (B) AS BEFORE DUE DATE (160000-20000+120000+100000+80000)/5 = 4.000 PC = 3. 57.000 + 50 = 1. 13.5 + 2) × 100 = 800 Amount transferred to capital reserve.30. Amount of new bill = old bill – cash payment + int. 59.ACCOUNTS CLASSES BY PANKAJ SIR 51. 60. C/d 13.83.23.000 To .000 55.000 Share capital A/c will be Dr.50.No of debentures = = = 30. 58.5 + 1 + 2.800) 4. 52.000 To allotment (35 × 14.64.000) 3.8) = 3000 PC 3.000 *3 = 2.000 + 6.000 13.23.000.2) – (10 .90.000 × 6% × = 1. 12 Cash Book To Application (25 × 14. 56. By bal.000/5 = 88.000 800*8 = 6400 250*4 = 1000 3750 is cost so cost shall be trasnferred P AND L A/C 16000 GP 58000 NP 42000 COMMISSION = 5/105 *42000 = 2000( AFTER ) 28 (D) 29 30 SALARY 4000 GP INT on loan 5000 INTEREST on investment BAD DEBT 1200 NET PROFIT 16000 CLOSING BAL = 10000+3000+2200-1600 = 13600 PURCHASES 100000 SALES GP @20% 18000 C/S (BAL FIGURE) 31 WAGES 25000 1200 26200 90000 28000 ONE SIDE ERROR TO SUSPENSE 32 (C) OR 9811860116 ANU 5/8 AKSHAY 3/8 ANUP X Page 51 . E60000 = IP = 300000 LOSS = 40000*20/100*10 = 8000X10/8 = 10000 O/S 40000 PURCHASES 80000 GP ¼ 25000 40 (A) 41 (B) 1/8 3/8-1/10 22/80 SALES C/S 100000 45000(BAL) LEFT = 45000-30000 = 15000 RIYA = 1000X6. PIYA = 500X6.ACCOUNTS CLASSES BY PANKAJ SIR SR 33 34 (A) 35 36 (D) 38 (C) 39 (B) 1/5 5/8-1/5 17/40 3/10 SO.IP = 7500.5X10/100 = 650. 34:22:24=17:11:12 250000*50/100 = 125000 C SHARE = 72000*3/12*2/9 = 72000*6/108 = 4000 12/6__________________12/8 + = 15/8-1 = 14/8 CP = 240000+LOAD ¼ =I.00.LESS-TRADE DISCOUNT 15% (1125) = 6375 750000X100X10/100 = 75.000 200000/(100-20) = 200000/80 = 2500X100 Page 52 .5X10/100 = 325. 100000X12/100X3/12 = 3000 97000 50% 975 50% 48500 42 (B) OR NR R ½ 1/2X2/3 1/3 S ½ 1/2X2/3 1/3 A X 1/3 1/3 =1:1:1 43 (C) 150000 5000 127500 1L 10000 5000 35000 44 (A) 45 (C) 46 (B) 47 (D) 48 (A) 49 50 51 (C) 9811860116 GATTU 100000 PUR 10000 FREIGHT 17500 PROFIT JV 150000 17500 17500 (10000X100+8000)/(10000-1000)X1000 = 1008000/9000X1000 = 112000 500000+20000X10/100 = 52000 22000+2000-8000 = 16000 3+5 (8)X2000 = 16000 RAJ 5200 TO B/R 5000 TO DISC 200 5000 = CP+50%. 10% OF 100000 = 10000 Wrong Ans in Module 37 5/105X84000 = 4000 (C) 38 (D) 100000 6000 9811860116 4000 B/D To P and L 6000 SALES 100000 Page 53 . SO. X = 1433 SO. SCRAP NOT RELEVANT L = 1/6X60000 = 10000 J K L 30000 20000 10000 500X100-40000 = 10000 discount SC 400X16 = 6400 TO SF 400X12 TO CALLS 400X4 Q 26 (B) 27 29 (D) 30 31 (C) 33 (B) 34 (A) 35 new provision.AS RATE GIVEN. IP = 200000+1/4 = 250000 (D) 25% ON SP = ¼ ON SP. ON COST = 1/(4-1) = 1/3 = 33. NOTE – 3/5X 100000 = 60000 X = 1/5(10000-1400-X). 5X = 8000-X = 6X = 8600. 1400+1433 = 2833 (C) INTEREST 10000X15/100X2/12 = 100X15/6 = 250 PURCHASE BOOK JV 200000+82000 250000 Profit 82000 STOCK (200000X1/5-20%)32000 10/100(240000+20000) = 26000.12000 GP 32000 (C-S)/60000X5000 = (63000-3000)/60000X5000 = 60000/12 = 5000 56 (A) MODEL TEST PAPER 2 Q 23 Q 24 Q 25 CP 200000.ACCOUNTS CLASSES BY PANKAJ SIR 52 (A) ISSUE 20000 APPLIED24000 -----FOR EVERY 24 6 SHARES ----5 SHARES 53 (B) 20 SHARES P&L APPN PROFIT 5000 INT A-2000 B-1250 PROFIT 1750 875 875 54 (A) PURCHASE 60000 SALES 100000 RETURNS 5000 RETURNS-7000 DUTY 6000 SALES TAX.NOTE :.33 (A) TOTAL COMMISSION = 2/100X70000+X = 1400+X X = 20/100[70000-(1400+X)-60000]. 300000-220000 = 80000 9811860116 Page 54 . SALES-COGS = GP. 12/100X(1000000-110000) = 106800 700X25 – 10000 = 7500 (35000-25000) = 10000 6/100X7000X100 + 5/100X7000X100 = 7000 TRADING 6000 300000 120000 OR.000 1200X2050 SALES 650X2300 1850 UNITS 42 (B) C/S (100000+6000+2000+10000)/1000X250 VIMAl 2/3 76000 -25000 51000 COMMISSION = 300X1850 = 555000 VISHAL 1/3 2/3 1/3 VIMAL34000 76000 VISHAL 17000 YASH 25000 43 (D) 100000 10000 10000 50000 150000 20000 44 (C) GW =( 58000+55000+61000-50000)X3 3 = (58000-50000 ) X3 = 24000 46 (C) 50 (A) 51 (C) 52 (A) DIVIDEND ON PAID UP CAPITAL.10.ACCOUNTS CLASSES BY PANKAJ SIR 2000 10000 6000 COMM 2000 3500 39 (C) 40 (A) 41 (A) 25000-2/1000X25000 = 24500 (I) 200000 (II) 350000 (III) 320000 (IV) 6L (V) 7L = 25. = S(3-1)-S(N) = S2-S3 = 252000(1-.ACCOUNTS CLASSES BY PANKAJ SIR 53 (D) NOT RECOVERED = 70/100X(100000+1000). 55 (C) 56 (A) 57 (B) SR 1/10 1/10 NR 24/60 14/60 1/6 2/10 12:7:5:6 S = C(1-D)N NOTE.05)2 – 216058 = 241794-216058 400000/(100-20) = 5000X100 = 5L 50000 + 5000 CASH 5000+5000 TO SALES 50000+5000 TO ST 5000 58 (D) JY 200000 10000 6000 180000 20000 10000 4000 SHYAM 180000 4000 20000 196000 MODEL TEST PAPER 3 Q21 (B) A 50000 S 45000 VINEET TO CASH 12000 C/D 30000 B/D 39000 PROFIT 18000X1/6 V 30000 22 (A) 23 (C) {20000X10X20/100}/5 = 40000/5 = 80000 R S M 3:1 9811860116 OR 5/8 3/8 NR 7/16 5/16 4/16 SR 3/16 1/16 Page 55 . = 216058 DEPRECIATION FOR 3 YEARS = 252000-216058 = 35941 FOR 3RD YEAR = S(N-1)-S(N).“N” IS POWER. HENCE APPYING IN EACH STAGE OF ANSWER. AS “3” IS ALSO A POWER.05)^3. = 70700 54 (B) OR 3/6 2/6 1/6 M N O P 24:14:10:12. = 250000(1-. O/S + PUR-C/S = 82500 200000-C/S = 82500.ACCOUNTS CLASSES BY PANKAJ SIR 24 (D) 25 (A) 27 (A) 28 (D) 29 (B) 30 (B) 32 (A) 33 (C) 45000_____________6000______________54000 + 1/3 15000 1/10 LOST 2/3 SOLD 36000+20% 7200 = 43200 = 60000 BAL AS PER CB = 1500-100+150+50+50 = 1650 2000*9=18000 GW = (18000-8500+30000+16500)X1. 0=9000X10-9XN.rohan=100000*20%=20000 1200-DEP 60+500 = 1640-DEP10/100X6/12 = 1640-82 = 1558 20000 18800 – 1880 = 16920 16920+1558 = 18478(done in class) 36 (C) 37 (D) 38 (A) 39 (C) 40 (A) 41 (B) 42 (C) 43 (C) 44 45 (C) CRR = FV-NEW ISSUE.5 = 6270 CB CORRECT B/D 10000 BANK ASSUMED -1870 8130 WRONG 10000 34 (A) 35 (A) BANK 1780 8220 INCREASE IN BANK BALANCE BY 90(8220-8130) JLP = 100000X4/10 = 40000.110000-1/4X110000 = COGS.5 = 21000 Correct Entry-----RATNESH TO BANK Wrong Entry----SALES RETURN TO BANK Rectifying Entry-----RATNESH TO SALES RETURN GP = SALES-COGS = 300000-200000 = 100000 (8000-2000) + 6000X18/100X3/12 = 6000+60X4. 90000/9 = N = 10000 CP = 200000X1/4 = 50000 100000X.5/4 = 56000/4X1.C/S = 117500 400000X5% = 20000-5000 = 15000 JV 12000 60000 6000 16000 3000 6000 29000 ALOK 60000 9811860116 Page 56 .282012 = 28201 200000/(100-20) = 2500X100 = 250000 15000-1000+2000 = 16000 SALES-COGS = GP. = 825000. X = 2454. C/S = 18000+4000 = 22000 SALES-GP = 10000-1/5X10000 = 8000 COMMISSION = 2/100X150000+X = 3000+X X = 10/100(15000-(3200+X)-120000).90000X1/3X3/9 = ANURAG = 10000 800000/(100-20) = 10000 24000 36000 SALES 1500 1500 1/3 GP 9000 500X6.10X = 27000-X.12000+30000+5000-14000 = COGS = 33000 SALES-COGS = 40000-33000 = 7000/- MODEL TEST PAPER 4 23 1500000/15 = 100000 2006-1L 2007.ACCOUNTS CLASSES BY PANKAJ SIR 6000 17400 83400 46 (B) 49 (D) 50 (B) 51 (B) 52 (A) 53 (B) 54 (B) 55 (D) 56 (B) 57 (D) 58 (150000 + 100000 + 500000)X3/10 = 90000 (O/S + C/S)/2 = 20000. X = 125000 50000-50000X12/100X3/12 ½ 24250 50000-1500 = 48500 25 (C) 26 (A) 27 (D) 28 (B) 29 30 (D) ½ 24250 COGS = 2000.5 = 162. 3000+2454 = 5454 90000X2/3X3/9 = ANKIT = 20000.5 75X200 BUT Rei SUED 150.1L 2008-1L BV 2009 = 1500000-300000 = 1200000. (1200000/300000)/(15-3) = 1500000/12 = 125000 (C) 24 (A) ________________________________________ 1/10X = 12500.SO.1/5X2000 = 2000-400 = 1600 (42000+39000+45000)X2/3 = 84000 CORRECT .11X = 27000.X+X+4000 = 40000 X= 18000. 150X25-150X10 = 2250 100000-20000 = 80000X12/100X2/12 = 1600 O/S + PUR + DE –CS = COGS.5X5/100 = 5X5X6. O/S + C/S = 40000.TB SUPPOSE 1000 Purchase Return 1000 WRONG TB Sales Return 1000 SUB 100 10000X2 = 20000 R P ASH 9811860116 ½ ½ 2/3X1/2 2/3X1/2 1/3 NR 1/3 1/3 1/3 Page 57 . 300000 = 500000-9XN.ACCOUNTS CLASSES BY PANKAJ SIR 31 (C) 32 33 (C) 34 (A) 35 (D) 36 37 (D) 38 (C) 39 (B) 40 41 42 (C) 43 (A) 44 (A) 45 (C) 46 47 48 (B) 49 (B) 50 (B) 51 (A) (120000+10000-5000)/5 = 25000 SP =AP-NP = 6000-125/100X400000 = (60000-50000)X2 = 20000 240000-160000 = 80000 BALANCE + ½ = 12000 RATE OF PROFIT = 80000/160000 = ½ 18/100X100000-150000 = 3000 30000X1/2 = 15000 GP = SR-COGS = 4000000-310000 = 90000 (O/S+C/S)/2 = 12000. O/S+C/S = 24000.5 = 30400. 500000-100000 = 400000+C OD+1500-100-50-125+400 = 1625 250000+19000 = 269000 35000-700 = 34300-30000 = 4300 20000X10X20/100 = 40000/5 = 8000 12500X10 = 125000 100X20 90X22 200 10X25 300 BAL COST = (2000+200+300)/100 = 2500/100 = 25 15000 20000X12/100X2/12 = 400 1/3/09_______________8/8/09_________________7/9+3 = 10/9 ______30 DAYS__________ 52 (C) 53 (B) (5000X100X20/100)/10 = 10000 55 CRR = 200000-100000 = 100000 57 (WRONG ANSWER) 12500 = X*10/100 X = 125000 75% SOLD________________100000_________________BAL 6250 93750 10 % = 9375 + 25/100X6250 = 58 (B) 45000 85000 13500 7200 5200 28500 59 (A) 60 (B) 100000X12/100 = 12000 (1000X8X+925)/(1000-150) = 8925/850 = 10.X+3000+X = 24000. C/S = 13500 200000+1/4 = 250000 CRR = FV-NEW ISSUE. 30400X10 = 304000 A =L+C.50 MODEL TEST PAPER 5 18 (C) P&L Subscription =1800-400 9811860116 Page 58 . 200000/9 = N = 22223 SHARES 20000X80/100 = 16000 380000/12. 2X = 21000 X= 10500. ACCOUNTS CLASSES BY PANKAJ SIR B/S PREPAID 400 19 (C) TRAVELLING CORRECT PURCHASE 10000-2000 SALES 80000 GP 72000 TRAVELLING WRONG 21 24 (B) 29 (A) 30 (B) 31 (C) PURCAHSE 10000 SALES 8000068500 1500 = 78500 GP WILL DECREASE BY 3500 COST CONCEPT O/D AS PER CASH BOOK.DEDUCTED BY 1500 REPAIR + WHITEWASHES. Sales = 70000 36 (c) 2l 5000 3000 25000 Sales[ 4/5x(16000 + 32000 + 200000) + 1/5] Stock 1/5x(200000+5000) = 41000 37 (B) 60000 20000 9811860116 80000 Page 59 .Cost = 20000+50000+10000-20000 Profit = 60000x1/6 = 10000.B/R SHOULD BE CREDITED BY 3600 33 34 (D) 35 (a) 20000 SALES 140000 150000 C/S 65000 GP1/4 35000 COGS = 140000-35000 = 105000 300000X15/100 = 45000.255000X15/100 = 38250.216750X15/100 = 32512 20000 20000 50000 10000 Rate on cost = 1/(7-1) = 1/6. 35000 SR TO RAJESH 5200 SR TO RAJESH 2500 SUSPENSE 2700 TO RAJESH 2700 DEBTOR 4000 TO B/R 4000 WRONG DEBTOR TO B/R 400 . 200000-160000 = 40000 MODEL TEST PAPER 6 Q 23 Q 26 (B) Q 28 29 (A) 30 33 9811860116 BAL AS PER PB = 60000+ 20000 = 80000 (D) 4X100 = 400 180000 = COGS. 2/5X180000 = 72000 S = C(1-D)^N 24 = 100(1-D)^4.3.= 35000 PUR 80000 SALES 60000 GP 1/6X60000 30000 CP_____________BY______________SP = 10000 (B) 30000 18000 40000 55 (C) 56 (C) 57 (B) 58 (B) 15000 10000 25000 5000 COGS = 15000+25000+5000-10000 = 35000 (40000+5000-5000)/5 = 8000 CRR = 50000-25000 = 25000 A=L+C.24 = (1-D)^4.180000X1/3 = 60000 4/[4(4+1)]/2X(200000-20000). (B) 30 % PROVISION B/D 4000 C/D 10000 BY P&L 6000 BAD DEBT Page 60 .24 = 1-D. 4..ACCOUNTS CLASSES BY PANKAJ SIR 38 (C) 39 (C) 3X(30000+150000-20000-5000)/4 = 15000 OR 2/3 1/3 M N O NR 3/4X2/3 3/4X1/3 ¼ ½ ¼ 1/4 2:1:1 41 (B) Share Capital 50X3 TO SF 5X50 TO Share ALLotment 3X50 CRR = 300000-120000 = 180000 45000X1/4 = 11250 5000X125X10/100 = 500X125 = 62500 42 (D) 43 44 (A) 46 (C) O P OR ¾ ¼ NR 5/8 3/8 SR 1/8 -1/8 P 51 (A) 52 (D) 54 TO O 50000-50000X15/100X2.70 = 1-D D = 0.= 50000-500X30.GP = ¼ ON SALES = 1/3 ON COST. 5X10/100 = 200X5.ACCOUNTS CLASSES BY PANKAJ SIR 34 TO DEBTORS 6000 12000 (C) TB 15% LOAN 30000 INT 3000 P&L BY P&L 6000 INT 3000+1500 = 4500 15% OF 30000 = 4500 CORRECT O/S 1L C/S 3L GP 2L 35 WRONG O/S 110000 175000 C/S 285000 25000 UNDER 36 (A) JV 20000 20000 30000 15000 35000 5000 Y 35000 5000 40000 3000 7500 29500 60000-------8000—PROFIT = 20000-------1/3 ON COST 37 (B) 70000 39 (C) BAL 10000+1/3 = 13333 20000X5. AS NOTHING MENTIONED = ANY OCT+NOV+DEC = O/S 30000X3/12 = 7500 (60000-12000)/8 = 48000/8 = 61000 (B) Page 61 .5 = 1100 42 (A) 45 (D) 46 (C) 47 (C) 49 (A) 50 (A) 53 9811860116 S1 + G1 = 6000+3000 = 9000 R1 CAPITAL = 9000X5/4X1/5 = 2250 AMOUNT RECEIVED = 200-DISCOUNT – FINAL CALL = 200-20-50 = 130 SHARE CAPITAL CALLED = 40 60000-4000/2 = 58000 AS ONLY FULLY PAID CRR = 75000-40000 = 35000 1.3.08____30 SEPT_______31 DEC_______31.09 200000 @15% = 30000.3.08______________31.1. 09 50000+5000+ = 55000X25/100 = 13750 (15000-0)X3[5(5+1)/2] = 150000X6/(5X6) = 30000 50000/100X10/100 = 5000 CASH 6500 20000 13500/(100-10) = 13500/90 = 150X10 = 1500 DEBTORS B/D 150000 BY CASH 30000 TO CREDIT SALES (50000-15000) BY RETURNS 3000 BY BAD DEBTS 7000 BY B/R 15000 C/D 130000 (B) IP = 300000+1/4 = 375000 (A) SALE = 80000+1/4 = 100000/-.4.PURCHASES= 22000 (C) DEBTOR B/D 15000 BY CASH 160000 166000 BY BAD 14000 7000 C/D CASH SALES+CREDIT SALES = 20000+166000 = 186000 (D) BANK O/D CB 15000+4000-6000 = 13000 BANK BAL PB = 20000-7000+5000 = 18000 40000X1/5 = 8000 SALES = 15000+1/3 = 20000 29. COMMISSION = 10/100X100000 = 10000 (C) GP = 70000.1.ACCOUNTS CLASSES BY PANKAJ SIR 55 (A) 57 (D) 59 (C) 60 (A) RENT 11000 TO SUSPENSE 300X3/5 = 180 50X500 = 250000 +1/5 5000 = 30000 20000 60000 40000 30000 90000 (A) MODEL TEST PAPER 7 23 24 25 26 (A) 27 (C) 31 (B) 34 36 37 (B) 40 (B) 41 (D) 42 (C) 43 (D) 44 45 46 48 49 50 51 (B) 52 53 (C) 55 (B) 9811860116 SALARY DR 15000 TO PURCHASES 15000 COGS = O/S+PUR+DE-C/S.10 (A) 15X2000 = 30000___________+25%_______ = 37500 31.3.NP = 70000-12000.= 58000X1/11. = 5272272 (A) C/S = 25000-1/5 5000 = 20000 (B) BALANCE AS PER PB 27400-73000+4447700 = 2100 (C) OD AP PER PB = 450+105-300 = 255 GP = SALES – COGS = 70000-24000 = 46000 (C) PAID UP = 50000X100-50000 = 4950000X20/100 = 99000 12/100X170000 = 20400-700 = 1340 (B) Page 62 .10______________2 MONTH_______29/3 + 3 = 1.= 58000X10/100 = 58000X10/110.20000 = 6000+PUR-8000. 160000-1/5 160000 = 148000 148000 = 200000-C/S. C/S = 52000 CASH DR TO BAD DEBTS RECOVERED-----------NIL (D) DRAWING DR TO PETTY CASH 20000 (C) REPAIR NIL AS AMOUNT WILL BE CAPITALISED 50000 C/D 250000 200000 B/D 100000 PROFIT 100000 20000 120000 32 (D) 33 (C) 34 35 (B) 6 4 70 70 12000 800 CP = 20000+20%X20000.= 2/100X16000+ X = 320 + X = 320+160 = 480 (D). X = 10/100(17600-16000) = 10/100(1600) = 160 200000-1/3X200000 = 133333 (C) CP = 45000+1/3X45000 = 60000 Page 63 .ACCOUNTS CLASSES BY PANKAJ SIR 56 1500 4000 C/D 24500 57 58 (A) 59 B/D 30000 (B) 10000-2000 = 8000+3000 = 8300 (B) 500000X10/100X1/5 = 10000 CR = 1000X(10-9)-1000X(10-6) = 6000-4000 =2000 (C) MODEL TEST PAPER 8 23 (C) 24 (A) 25 27 28 29 30 (D) 31 (B) COGS = O/S + PURCHASE – C/S = 10000+30000-5000 = 35000 (500000-5000)/9 = 5000 PA (A) P&L RENT 10000 GP 70000 SALARIES 8000 APP PREMIUM 12000 NP 64000(D) COGS = O/S + PURCHASE – C/S SALES-GP = COGS. = 24000-10% = 21600 (5/100+5/100)X100X10000/100 = 1000 X Y Z 36 37 39 40 (D) 9811860116 OR 7/10 3/10 SR 1/7X7/10 1/3X3/10 NR 6/10 2/10 1/10+1/10 6:2: = 3:1:1 CP = 40000+1/4X40000 = 50000 COMMISSION = 2/100 X INVOICE + X. ACCOUNTS CLASSES BY PANKAJ SIR 41 (B) 2500 DRAWINGS 10000 IO 300 C/D 13450 42 (C) 43 150000 = 20000+PUR-40000. 480000X15/100 = 72000 (150000-20000)/10 = 13000 (A) 60000 AS INSURANCE CLAIM CAN NOT EXCEED INSURED VALUE 8000 = 2500+PUR+1000-3000. SALES-COGS = 160000-80000 = 80000 (C) (80000-12000)X30/100 = 20400 44 (D) 48 51 (D) 53 (B) 54 56 (D) 57 58 59 15000 B/D 1500 NP 750 IOC RAM RANIM RAHMAN 4:2:1 (B) 8/100X100 = 8(A) OR 4/7 3/7 SR 1/7 NR 4/7 2/7 1/7 P&L SALARY 72000 O/S 72000/9X3 = 24000 B/S 24000 (C) MODEL TEST PAPER-9 23 (B) CASH SALES+CREDIT SALES = 70000+193000 = 263000 B/D 30000 200000 BY CASH 193000 7000 BY BAD DEBT TO CREDIT SALES C/D 16000 25 (B) JV 52500 17500 60000 10000 26 (C) K L 9811860116 OR ½ ½ SR 1/4X1/2 1/4X1/2 NR 3/8 3/8 Page 64 . 7500 = PUR (B) 80000 = PUR-C/S(30000).PUR 110000. PUR = 170000 OR 5/8 3/8 M S SHYAM SR 1/10 1/10 NR 42/80 22/80 1/5 42:22:16 = 21:11:8 15/100(500000-20000). ACCOUNTS CLASSES BY PANKAJ SIR M 1/4 3:3:2 27 OR 4/9 3/9 2/9 X Y Z GR 13/72 X 11/72 NR 5/8 SR 1/3X4/9 1/3X3/9 1/3X2/9 NR SR 1/10 1/10 NE 5/10 3/10 2/10 3/8 13:11 (C) (60000-10000)/8 = 6250 RATE = 6250/60000X100 = 10.416% (A) 28 31 OR 4/9 3/9 2/9 R S M SOHAN 4/27:3/27:2/27 = 4:3:2 (B) 32 (B) OR 3/5 2/5 Y Z X 1:1 34 (D) 35 36 OR NR SR M 1/3 1/3X3/5 N 1/3 1/3X2/5 O 1/3 3/15:2/15 = 3:2 GW = 1.NEW 10000 – 2000 = 8000 (C) 30000X20/100 = 5000 PROFIT 9811860116 Page 65 .5X(30000+20000+20000-5000-5000-3000-2000)/6 = 1.5X10000 = 15000 (B) CASH TO X 100000 C/D 500000 (C) TO SALES 50000 TO DRS 350000 TO SALES 450000 37 BY CASH C/D 10000 35000 CHAIR __________OUT -------------. 09_________31. PURCHASES = 130000 (A) 3/10X(50000+100000+150000). 300000X3/10 = 90000 (A) (500000-50000)/15 = 30000.5 = 6500 (C) 59 30000+25/(100-25)X30000 = 40000 (D) MODEL TEST PAPER 10 23 26 10000X12/100X(90-36)/360 = 180 (C) DEBTOR TO CREDIT 100000-20000 BY CASH 50000 (B) C/D 30000 150000 = 60000+PUR-40000.10.3.3.RATE = 300000/500000X100 = 6% (10%+5%)X20000 = 3000 (C) (20000-6500)/(100-10) = 13500/90X10/100X100 = 1500 150X100X10/100 = 1500 (B) 600000X12/100 = 72000 (B) 10/100X10000X100 = 100000 (C) SHARE CAPITAL ALWAYS BY CALled SO. 3X15000 = 45000 60 5000X6.5X20/100 = 1000X6.ACCOUNTS CLASSES BY PANKAJ SIR 41 43 (C) CP = 125000(A) 10000/4 = 2500 CAPITAL A/C TO CASH 5000 C/D 25000 B/D 20000 BY CASH 6000 4000 PROFIT (C) 44 49 51 52 DUE DATE---------FACE VALUE OF BILL = 100000X1/2 = 50000 (D) 5000X10/100X6/12 = 250 (C) 10/100X70000 = 7000-3500 = O/S 3500(A) _______1.10 40000 38000 BY 34000 BY SOLD FOR 36000 PROFIT 36000-34000 = 200 (D) 53 TRADING A/C 100000-9000 160000-8000 = 152000 61000 (B) 54 (D) 3X(10000+15000+20000+15000)/4. BY 18 (B) SALARY DR 560000 TO CASH 500000 TO TAX 50000 TO PROFESIONAL TAX 10000 27 29 30 31 (C) 32 35 36 38 39 (C) 40 (B) RAM MOHAN SOHAN OR ½ ½ NR 2/3X1/2 2/3X1/2 1/3 1/3 1/3 1/3 OR 5/12 4/12 GR 3/10X4/7 3/10X4/7 NR 5/12+12/70 = (350+144)/840 1:1:1 41 (D) A B 9811860116 Page 66 .08_______31. 21000-6000 = 15000 (B) Page 67 . SALES-GP = COGS 160000-1/5X160000 = X+200000-C/S. C/S = 72000 (B) SALES-GP = COGS.21000-40/140X21000 = COGS.ACCOUNTS CLASSES BY PANKAJ SIR C 3/12 494:424 = 47:37 (D) 42 (A) SALES-COGS. 60000-45000 = 15000 (A) 43 (A) 1.07_(I)___20000___(II)___16000____(III)____12800____________ 100000 80000 64000 31000 LOSS = 100000(20000+16000+12800+31000) = 100000-79800 = 20200 (A) 44 (A) 24000X20/(100+20) = 4000 (A) 46 OR NR M 3/6 5/12 N 2/6 4/12 O 1/6 2/12 D 1/12 47 48 49 55 (B) 58 9811860116 (280+144)/840 SR 1/12 0 X X (C) SHARE FORFEITED ALWAYS WITH PAID UP AMOUNT = 100X7 = 700 (C) 15/100 (100000-10000) = 13500 (B) 900000/(100+25) = 900000/125 = 7200SHARE (A)\ COGS = O/S+PUR-C/S.1.
Copyright © 2024 DOKUMEN.SITE Inc.