Plus One Accountancy Model Question Papers Paper 4

Plus One Accountancy Model Question Papers Paper 4 are part of Plus One Accountancy Previous Year Question Papers and Answers. Here we have given Plus One Accountancy Model Question Papers
Paper 4.

Plus One Accountancy Model Question Papers
Paper 4

Time Allowed: 2 hours
Cool off time: 15 Minutes
Maximum Marks: 60

Answer all questions from question numbers 1 to 9. Each carry one score.

Question 1.
When the drawee of the bill of exchange makes the payment before the maturity date of the bill is called
a. dishonour of the bill
b. discounting of bill
c. retiring of bill
d. renewal of bill

Question 2.
Fill in the blank with suitable data type on the basis of the hint given:
a. Name: Text
b. Birthdate:

Question 3.
Classify the following input devices and out­put devices

a. Optical pen
b. VDU (visual Display unit)
c. Printer
d. Smart card reader

Question 4.
Which one of the following principles of ac­counting helps to equate the assets of a firm with its liabilities?

a. Full disclosure principle
b. Duality principle
c. Matching principle
d. Cost principle

Question 5.
Tally is a……………..
a. Utility software
b. Application software
c. Operating system
d. Connecting software

Question 6.
When the debit of income and expenditure is more than its credit, it leaves a ………….

a. profit
b. surplus
c. deficit
d. loss

Question 7.
A bank reconciliation statement is prepared with the balance of……….

a. Passbook
b. Cashbook
c. Both pass book and cash book
d. None of these

Question 8.
The single entry system is also known as

a. Imprest system
b. Merchantite system
c. Incomplete system
d. Cash system

Question 9.
Which of the following is INCORRECT?
a. Assets = Liabilities + Capital
b. Liabilities=Assets – Capital
c. Capital = Assets – Liabilities
d. Liabilities = Assets + capital

Answer any five from question numbers 10 to 15. Each carries two scores.

Question 10.
Journal and ledger are two important books maintained in accounting.
a. State any two differences between these books.
b. Purchase office furniture for Rs. 500 by cheque. The account to be debited is

Question 11.
Mention two capabilities of a computer over human beings.

Question 12.
From the following information, ascertain the amount of debtors to be posted in the asset side of the Balance sheet.

Adjustments:
a. Provide 5% for further bad debts.
b. Create a provision for doubtful debts@ 10% on debtors.
c. Provision for discount on debtors is
to be created @ 10%.

Question 13.
In how many ways are assets classified? Mention these ways.

Question 14.
From the following transactions, identify the type of error.
a. Wages paid for making additions to machinery Rs 100 was debited to wages A/c.
b. Sales account was given an excess credit by Rs 1600 and at the same time, rent account was totaled shortly by Rs 1600.
c. A credit purchase of Rs 10000 from Manju Agencies was not recorded at all.
d. A credit sale of Rs 5000 was entered in the sales book as Rs 50000.

Question 15.
Rajanesh is a manager with great expertise in management and leading his firm very well. But his expertise does not find a place in the accounting records of the firm.
a. Is it genuine according to the rules of accounting?
b. State your answer with the reason.

Answer any three from question numbers 16 to 19 Each carries three scores.

Question 16.
Bank reconciliation statement is prepared to reconcile the cash book and pass book bal­ances on a certain date.
a. This statement is prepared by…
b. Write any one cause for the difference in pass book and cash book
c. Cash book of Tinu shows a bank bal­ances of Rs. 15,000. On comparing the cash book the following discrep­ancies were found.

1. Cheque issued to Deepa but not presented for payments of Rs. 1,000
2. Bank interest credited by the bank Rs.400
3. Divya, a customer directly deposi­ted Rs.4000 to firm’s bank account
4. Bank Charges Rs.100 not entered in the cash book.
   Prepare a bank reconciliation statement.

Question 17.
Ascertain the profit from the following:
Capital on 1^st January 2014   र 16000
Capital as on 31^st December 2014  र 17900
Drawings made during the year  र 4800
Capital introduced on 1st July 2014 र 2000

Question 18.
Rectify the following transactions of Baby stores during the year 2012-13.

1. Salary paid Rs 900 was recorded as Rs 90 only.
2. Furniture purchased on credit for Rs 20000 was recorded through cash book by mistake.
3. Wages worth Rs 40000 paid for con­struction of a car porch were debited to Wages A/c
4. Purchase book was cast short by Rs 900.

Question 19.
A firm decided to make provision for doubtful debts @ 10% on debtors for the year 2012-13. Name the relevant accounting principle applied here and explain.

Answer any two from question numbers 20 to 22. Each carries four scores.

Question 20.
Star Ltd. purchased machinery for Rs 290000 and spent Rs 10000 on its installation on 1^st April 2008. After using it for 3 years, it was sold for Rs 2,00,000 on March 31^st, 2011. Depreciation is to be provided at 10% on the fixed installment method.
a. Pass journal entry for recording the purchase of machinery.
b. Find the amount of profit/loss on sale of machinery assuming that the acco­unting year closes on 31^st March every year.

Question 21.
Krishna intends to create a table in Ms- Access. Suggest suitable data types for the following fields.

Question 22.
From the following particulars, prepare the bank reconciliation statement of Asha & Co. as on
31-03-2012.
a. Credit balance as per pass book is  Rs. 10,000
b. Bank collected a cheque of Rs. 500 on behalf of Asha & Co. but wrongly credited it to Asha’s account.
c. Bank recorded a cash book deposi­ted of Rs. 1589 &Rs. 1598.
d. Withdrawal column of the passbook under cost by Rs. 100
e. The credit balance of Rs. 1500 as on the passbook was recorded in the debit balance.
f. The payment of a cheque of Rs. 350 was recorded twice in the passbook.
g. The passbook showed a credit bala­nce for a cheque of Rs.1000 deposi­ted by Asha & Co.

Answer question numbers 23 and 24. Each car­ries five scores.

Question 23.
“Writing equation forms the basis of the accounting process”. Prove that the accounting equation is satisfied in all of the following transactions.
a. Suresh commenced business with cash RS 40000
b. Purchased goods on credit Rs 6500
c. Paid rent Rs 500
d. Sold goods costing Rs 6500 on credit for Rs 8000

Question 24.
Prepare a double column cash book from the following transactions for the month of January 2018.

Question 25.
Kiran a sole trader does not keep full records of books of accounts. However, the following information is available. You are required to calculate credit sales and credit purchases by preparing Total Debtors Account and Total Creditors Account. Also, show the Bills receivables A/c and Bills payable A/c.

Question 26.
Mr. Thomas keeps his books under the single entry system. On 1 st April 2013, his records indicated the following assets and liabilities,


During the year, he introduced Rs 15000 as further capital and withdrew Rs 400 every month. Calculate the profit or loss made by him during the year by using the statement of affairs method.

Question 27.
Mr. John, who does not follow the double entry system gives you the following details for the period ended 31/12/2012.


loss account and the Balance Sheet as on 31/12/2012.

Answer

Answer 1.
c. retiring of bill

Answer 2.
Date / Time / Text

Answer 3.
Input devices – (a) & (d)
Output devices – (b) & (c)

Answer 4.
Duality principle

Answer 5.
Application software

Answer 6.
profit

Answer 7.
Both pass book and cash book

Answer 8.
Incomplete system

Answer 9.
Liabilities=Assets + capital

Answer 10.
(a)

b. Furniture A\C.

Answer 11.
1. Speed: A computer is able to process data at.a very high speed than that of a human being
2. Accuracy: It refers to the degree of exactness with which comp­utation are made and operations are performed.

Answer 12.

Answer 13.

Answer 14.
(a) Error of principle
(b) Error of compensating
(c) Error of omission
(d) Errors of commission
(e) Errors of omission

Answer 15.
(a) Yes.
(b) According to this concept, transactio­ns involving money or money’s worth will be recorded in the books of acco­unts. The transactions or events which cannot be expressed in monetary terms.

Answer 16.
(a) Customer/ Businessman/Account holder etc
(b) Cheque issued by the bank but not yet presented for payment.
(c) Bank Reconciliation Statement

Answer 17.

Answer 18.

Answer 19.
Principle of conservatism
According to this principle, all possible losses are to be provided for but incomes can be recognised only when there is a certainty.

Answer 20.
a. Machinery A/c Dr 300000
Cash/ Bank 300000
b. Ascertainment of Profit or Loss on Sale of Machinery

Answer 21.
a. No/Text
b. Text
c. Text
d. Text
e. No
f. Date/Time

Answer 22.

Answer 23.

Answer 24.

Answer 25.

Answer 26.

Answer 27.

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