Preparation Of Journal Ledger Account Etc CBSE Questions & Answers

Preparation Of Journal Ledger Account Etc

This is Accountancy Class 11 preparation of Journal, ledger account, trial, bank reconciliation statement CBSE Questions & Answers. There are 15 questions in this test with each question having around four answer choices.

Questions & Answers

1
Which of the following is not a function of Trial balance
  • A
    Helps in locating error
  • B
    Helps in calculating profit
    Correct
  • C
    Helps in preparing of Final accounts
  • D
    Provide the summary of Ledger account
2
The reason for difference in cash book and pass book is
  • A
    Errors Committed in recording transactions
  • B
    Both
    Correct
  • C
    Time gap in recording transactions or
  • D
    None of these
3
Reasons for the time gap in recording the transactions in the two books (Cash Book and Pass Book) are
  • A
    All of these
    Correct
  • B
    Interest allowed by the bank.
  • C
    Interest on overdraft, bank charges, commission etc. charged by the bank
  • D
    Cheques deposited but dishonored by the bank.
4
Errors committed by the firm which causes difference in cash book and pass book except
  • A
    Cheques issued to some creditors but omitted to be recorded in the Cash Book or recorded twice.
  • B
    Error in totaling or balancing the bank column of the Cash Book
  • C
    Cheques deposited into the bank omitted to be entered in the Cash Book or recorded twice.
  • D
    Sometimes bank records a wrong entry in the customers account
    Correct
5
Why Bank Reconciliation Statement is prepared
  • A
    It helps in locating and rectifying the errors or omissions committed either by the firm or by the bank
    Correct
  • B
    Helps in locating error
  • C
    Provide the summary of Ledger account
  • D
    Helps in preparing of Final accounts
6
Goods costing Rs. 15000 were sold for cash at a Profit of 20%. By what amount stock account will decrease
  • A
    Rs.15000
    Correct
  • B
    Rs.1500
  • C
    Rs.20500
  • D
    Rs.25000
7
Goods costing Rs.15000 were sold for cash at a profit of 20%. By what amount cash increase
  • A
    Rs.12000
  • B
    Rs.18000
    Correct
  • C
    Rs.13000
  • D
    Rs.15000
8
Calculate total expenses if capital Rs.200000, creditors Rs. 50000, revenue Rs.500000 and asset Rs. 500000
  • A
    Rs.700000
  • B
    Rs.550000
  • C
    Rs.250000
    Correct
  • D
    Rs.350000
9
Goods costing Rs. 20000 were sold for cash at a profit of 25%. By what amount stock account will decrease
  • A
    Rs.15000
  • B
    Rs.20500
  • C
    Rs.25000
  • D
    Rs.20000
    Correct
10
Calculate Cash balance during the week ending Dec.30, 2010with a weekly imprest Rs. 500 Stationery Rs.100, Bus fare Rs.12, Cartage Rs. 40, Taxi fare Rs.80, Wages to casual labour Rs.90, Postage Rs.80
  • A
    Rs.98
    Correct
  • B
    Rs.95
  • C
    Rs.85
  • D
    Rs.90
11
Received Rs. 3800 from Kamal in full settlement of a claim of Rs. 4000.By what amount Kamal account should be credited
  • A
    Rs.3800
  • B
    Rs.3500
  • C
    Rs.4200
  • D
    Rs.4000
    Correct
12
Rs.500 bad debt recovered which were earlier written off as bad debt. Journal entry for this transaction will be
  • A
    Option A
  • B
    Option B
  • C
    Option C
    Correct
  • D
    Option D
13
Calculate the purchase amount in this transaction given below. Brought from Ajay book House, 25 Dozen Pencils @ Rs.30 per dozen, 20 Dozen Ball pens @ Rs.10 per pen , Trade discount 10%
  • A
    Rs.2835
    Correct
  • B
    Rs.3589
  • C
    Rs.4521
  • D
    Rs.2538
14
Calculate the amount of purchase return. Return to Aman Book House, 5 Dozen Pencils@Rs.30 per Dozen, Trade discount@10%
  • A
    Rs.150
  • B
    Rs.165
  • C
    Rs.135
    Correct
  • D
    Rs.155
15
Calculate the amount of sales return. 5 Tables @Rs.150 each, 10 Chairs @ Rs.100 each, Trade discount@10%
  • A
    Rs.1575
    Correct
  • B
    Rs.1750
  • C
    Rs.1925
  • D
    Rs.1500