Recording Of Transactions CBSE Questions & Answers

Recording Of Transactions

This is Accountancy Class 11 Recording of Transactions CBSE Questions & Answers. There are 15 questions in this test with each question having around four answer choices.

Questions & Answers

1
Which of following items will be recorded in the purchase book?
  • A
    Purchase of goods in cash
  • B
    Purchase of goods on credit
    Correct
  • C
    Purchase of asset
  • D
    Purchase of typewriter
2
By what amount the following transaction should be recorded in the SALES BOOK sold to Babu Furniture House. 200 Tables@Rs.150 each, 100 Chairs@Rs.100 each
  • A
    Rs.20000
  • B
    Rs.10000
  • C
    Rs.30000
  • D
    Rs.40000
    Correct
3
The capital of a business is Rs.300000 and outside liabilities are Rs.250000. Calculate total assets of the business
  • A
    Rs.250000
  • B
    Rs.50000
  • C
    Rs.300000
  • D
    Rs.550000
    Correct
4
If total assets of a business are Rs.150000 and capital is Rs.130000.Calculate outside liabilities
  • A
    Rs.30000
  • B
    Rs.20000
    Correct
  • C
    Rs.25000
  • D
    Rs.15000
5
If total assets of a business are Rs. 550000 and outside liabilities are Rs.250000 Calculate owners equity
  • A
    Rs.300000
    Correct
  • B
    Rs.200000
  • C
    Rs.100000
  • D
    Rs.500000
6
The liabilities of the firm are Rs. 3000; the capital of the proprietor is Rs.7000. The total assets are
  • A
    Rs.4000
  • B
    Rs.10000
    Correct
  • C
    Rs.7000
  • D
    Rs.3000
7
The assets of a business on 31st March 2012 are Rs. 60000 and its capital is Rs. 45000. What are its liabilities
  • A
    Rs.25000
  • B
    Rs.15000
    Correct
  • C
    Rs.105000
  • D
    Rs.55000
8
From the following information find the capital : Total assets Rs. 600000, creditors Rs.100000, Loan from bank Rs. 150000
  • A
    Rs.450000
  • B
    Rs.150000
  • C
    Rs.350000
    Correct
  • D
    Rs.250000
9
If the capital is Rs.300000, cash is Rs.200000, Machinery is 300000. What is the amount of liabilities
  • A
    Rs.800000
  • B
    Rs.700000
  • C
    Rs.200000
    Correct
  • D
    Rs.500000
10
Capital Rs.30,000; Bills Payable Rs.6,000; Bank Loan Rs.10,000. Fin out total assets.
  • A
    Rs.36000
  • B
    Rs.40000
  • C
    Rs.14000
  • D
    Rs.46000
    Correct
11
Riya started business 1st April 2012 with the capital of Rs.25000 and a loan Rs. 12000. On 31st March 2012 his assets were Rs. 50000. Find total profit
  • A
    Rs.25000
  • B
    Rs.13000
    Correct
  • C
    Rs.35000
  • D
    Rs.37000
12
Calculate total assets if capital Rs. 200000, creditors Rs. 50000, revenue Rs.500000 and expenses Rs.400000
  • A
    Rs.350000
    Correct
  • B
    Rs.200000
  • C
    Rs.250000
  • D
    Rs.300000
13
A started business and invests Rs. 50000 on 1st April 2010. On31st March 2011, his assets are Rs.65000 and liabilities Rs.6000. Find the amount of capital on 31st March 2011 and profit
  • A
    Rs.59000, Rs.9000
    Correct
  • B
    Rs.55000, Rs. 15000
  • C
    Rs.65000, Rs.18000
  • D
    Rs.50000, Rs.12000
14
Kamal started business and invests Rs.50000 on 1st April 2010. On31st March 2011, his assets are Rs.65000 and liabilities Rs.6000.Proprietor had invested Rs.5000 an additional capital and withdraw Rs.2000. What will be the profit
  • A
    Rs.8000
  • B
    Rs.10000
  • C
    Rs.6000
    Correct
  • D
    Rs.9000
15
Kamal started business and invests Rs. 50000 on 1st April 2010. On31st March 2011, his assets are Rs.65000 and liabilities Rs.6000. Kamal withdrew from his business Rs. 3000 for personal use. Find out the profit
  • A
    Rs.9000
  • B
    Rs.8000
  • C
    Rs.10000
  • D
    Rs.12000
    Correct