Jan 28. Above goods sold to Jaya at original price less 3% trade discount
Answers
Answer:
Time : 04:00:00 Hrs
Total Marks : 260
Answer All The Following Questions:
52 x 5 = 260
1.
Explain the Accounting cycle
2.
Briefly explain the functions of accounting
3.
Explain the advantages of Book-keeping.
4.
What are the differences between Book keeping and Accounting?
5.
Karthick opened a provisions store on pt April, 2017. Journalise the following transactions in his books:
2017 April Rs
1 Paid into bank for opening a current account 2,00,000
3 Goods purchased by cheque 40,000
5 Investments made in securities 40,000
6 Goods sold to Radha for Rs.20,000 and cheque received and deposited into bank
7 Amount withdrawn from bank for office use 15,000
10 Purchased goods from Kamala and cash deposited in CDM 10,000
12 Sold goods to Vanitha who paid through debit card 10,000
15 Interest on securities directly received by the bank 1,000
20 Insurance paid by the bank as per standing instructions 2,000
25 Sales made to Kunal who made payment through CDM 6,000
6.
Journalise the following transactions in the books of Ramesh who is dealing in computers:
2017 March
1 Ramesh started business with cash Rs.3,00,000, Goods Rs.80,000 and Furniture Rs.27,000.
2 Money deposited into bank Rs.2,00,000
3 Bought furniture from MIs Jayalakshmi Furniture for Rs.28,000 on credit.
4 Purchased goods from Asohan for Rs.5,000 by paying through debit card.
5 Purchased goods from Guna and paid through net banking for cash Rs.10,000
6 Purchased goods from Kannan and paid through credit card Rs.20,000
7 Purchased goods from Shyam on credit for Rs.50,000
8 Bill drawn by Shyam was accepted for Rs.50,000
9 Paid half the amount owed to MIs Jayalakshmi Furniture by cheque
10 Shyam's bill was paid