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example.

depreciation.

8. What are the two methods to ascertain profit in

single entry system?

(a) Depreciation on machinery Rs. 8,000 and on

building Rs. 12,000.

Rs. 15,000.

(a) Repairing cost of a building Rs. 1,500 has

been charged to building account.

(b) Credit sales of Rs. 2,000 to Chander have

been posted to the debit of miscellaneous
expenses account.

11. On 1.4.2011 Joy machine tools purchased a

machinery for Rs. 20,000. On 1.7.2011 another
machinery costing Rs. 15,000 was purchased. The
firm provides depreciation on its machinery
@ 10% p.a. On original cost on 31st march every
year. Show depreciation account for 3 years.

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12. Based on the information, find the opening
balance of bills payable :

Bills payable as on 31st Dec. Rs. 17,000.

SECTION B — (5 × 5 = 25 marks)

14. What are the various reasons for the differences

between balance as per pass book and balance as
per cash book?

15. Distinguish between straight line method and

diminishing balance method of depreciation.

16. How the profit of a business is ascertained under

net worth method?

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17. Complete the gaps in the following table :

Assets Liabilities Capital

Rs. Rs. Rs.
1 1,10,000 33,800 ?
2 ? 34,400 68,800
3 72,200 ? 57,000

18. From the following data, calculate total sales made

during the year, 2009 :
Rs. Rs.
Debtors (1.1.09) 17,425 Bad debts 2,500
Debtors (31.12.09) 15,300 Discount 1,800
Cash received from debtors 49,200 Bills receivable 5,000
Sales returns 3,700 Cash sales 12,000

account :

(a) Goods sold to Rama Rs. 1,000 were not

posted to his account.

(c) Sales book was under cast by Rs. 53.

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[P.T.O.]
SECTION C — (3 × 10 = 30 marks)

20. Elucidate the errors which a trial balance will not

disclose.
21. Describe the steps while converting single entry
into double entry system.
22. Discuss the causes and objectives of depreciation.
23. Following information is supplied from the books
of a concern :
Provision for debts @ 5% (Opening balance as on
1.1.2009 Rs. 1,500)
Provision for discount on debtors @ 2% (Opening
balance as on 1.1.2009 Rs. 500)
Provision for discount on creditors @ 1% (Opening
balance as on 1.1.2009 Rs. 300)
Also the balances for the following as on 31.12.09
and 31.12.10 are provided.
31.12.09 31.12.10
Rs. Rs.
Bad debts written off 1,800 300
Discount allowed 600 100
Sundry debtors 20,000 12,000
Sundry creditors 15,000 10,000
Show the necessary accounts in the ledger. Also
show how the items would appear in the final
accounts for the years given?
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24. From the following information, prepare two
columnar cash book :
2009 Rs.
July 1 Cash in hand 1,200
2 Cash received from Natesh 5,850
4 Purchased goods for cash 5,400
9 Cash sales 4,500