66 questions across 7 question groups — pick any mix to generate a Account paper with step-by-step answer keys.
M.C.Q (1 Marks)
14 Q→02True False[1 Marks ]
11 Q→03Fill In The Blanks[1 Marks ]
5 Q→041 Marks Question
15 Q→053 Marks Question
6 Q→064 Marks Question
1 Q→076 Marks Question
14 Q→One sample from each question group in this chapter. Select any group above to see the full set with answer keys.
Answer: B.
View full solution →Answer: A.
View full solution →Answer: B.
View full solution →Answer: D.
View full solution →Answer: A.
View full solution →| ₹ | |
| Cash in Hand. | 20,000 |
| Sundry Dedtors. | 60,000 |
| Stock of Goods. | 40,000 |
| Input IGST Account. | 15,000 |
| Input SGST Account. | 5,000 |
| Plant. | 50,000 |
| Land and Building. | 1,00,000 |
| Sundry Creditors. | 1,00,000 |
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2017
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Dec. 5
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Sold of M/s Banwari Lal & Sons, Chennai, goods valued at ₹ 2,00,000 less Trade Discount 10%
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Dec. 10
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Sold to M/s Kanti Bhai & Sons, Bengaluru (Karnataka):
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75 Electric Fans @ ₹ 4,000 each
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20 Room Coolers @ ₹ 10,000 each
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Less: Trade Discount 8%
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Dec. 16
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Mahindra & Co., Kochi (Kerala) purchased from us goods of ₹ 1,20,000, less: 5%
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Dec. 24
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Sold goods for cash ₹ 60,000
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2017
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Jan. 2
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Purchased Typewriter for ₹ 7,500
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Jan. 4
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Sold goods for Cash of the list price of ₹ 25,000 at 20% trade discount and 5% Cash discount
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Jan. 6
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Sold goods to Gopal Seth for ₹ 10,000
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Jan. 8
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Gopal Seth returned goods for ₹ 1,500
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Jan. 12
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Purchased goods from Arun ₹ 12,000, and from varun ₹ 15,000
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Jan. 13
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Settled Arun's account in full after deducting 5% for cash discount
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Jan. 14
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Paid cash to Ghanshyam in full settlement of his account
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Jan. 16
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Received ₹ 7,500 from Lal Chand in full settlement of his account
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Jan. 17
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Purchased a Scooter for office use ₹ 18,000
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Jan. 20
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Sold goods for cash 20,000
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Jan. 22
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Received from Gopal Seth ₹ 4,850 and discount allowed ₹ 150
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Jan 27
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Paid for Wages ₹ 7,000 and Salaries ₹ 3,000.
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Jan. 28
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Withdrew goods for ₹ 2,000 and Cash ₹ 1,500 for private use
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Jan. 29
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Paid for Life Insurance Premium of the Proprietor ₹ 1,600
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May 1
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Balance of Cash in Hand ₹ 12,400; Bank Overdraft ₹ 36,000
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May 3
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Direct deposit by Mr. Ganesh in our bank account ₹ 10,000. Discount allowed ₹ 200
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May 5
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Issued a cheque of ₹ 7,700 to Mr. Suresh in full settlement of his account of ₹ 8,000
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May 6
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Received a cheque from X for ₹ 12,000. Discount allowed ₹ 500. This cheque was deposited into bank on 7th May
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May 8
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Received Cash ₹ 22,000 and cheque of ₹ 8,000 for cash sale
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May 12
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Cash sale ₹ 70,000 of which ₹ 55,000 banked
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May 15
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Cheque received on 8th May endorsed to Mr. Sunil. Discount received ₹ 150
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May 20
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Discounted a B/R of ₹ 10,000 at 1% through bank
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May 24
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Cheque received from X dishonoured, Bank debits ₹ 20 in respect of bank charges
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May 25
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Purchased goods for ₹ 50,000 at a trade discount of 10%. Payment was made in cash
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May 26
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Withdrew from bank ₹ 10,000 for office use and ₹ 2,000 for personal use
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May 31
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Interest debited by Bank ₹ 4,500
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