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Unit Test – 1st (11th) Max marks – 50 Duration - 2 hour Subject - Accountancy Date - 06/Aug.

/2019

PART – A >> Attempt any 02 [10marks]

Q1. What is Reverse Charge Mechanism under GST topic? Explain the same with example. 5marks
Q2. Explain the meaning of Cascading effect before GST introduce in India with example. 5marks
Q3. Pass journal entry:- 5marks
Sold goods to ‘A’ for Rs.50,000. Charge CGST & SGST@ 6% each against cheque received of Rs.10,000 & rest payment after 2 months

PART – B [30marks]

Pass (i) Journal entry (ii) Ledger A/c & (iii) Trial Balance from the following transactions:-
1. Mohan commenced business with Cash Rs.50,000, Bank Rs.4,00,000 & Machinery Rs. 2,50,000
2. Sold Goods to M/s White of Rs. 30,000 & received 60% payment through cheque.
3. Purchase goods & machinery from M/s Black of Rs. 40,000 & 50,000 respectively.
4. M/s White’s cheque was produced at Bank but was dishonored.
5. Salary & Rent due Rs. 15000 & 10,000 respectively
6. Cash Rs. 28,000 received from M/s White & balance is treated as irrecoverable (i.e. loss) to settle the A/c.
7. Machinery of Rs. 25,000 & Cash Rs. 5,000 is taken out for personal use.
8. Due Salary & Rent are paid i.e. Rs. 10000 & 10,000 respectively through cheque.
9. 50% goods are Return back to M/s Black & rest balance paid through Bank as full & final settlement of A/c.
10. Additional investments made by Mohan by the way of Cash of Rs.20,000, Machinery of Rs.50,000 & Goods Rs.20,000
but withdraw Rs.12,000 via Bank for personal use.

[ Hint >> Trail Balance will tally with Rs. 8,45,000 ]


PART – C [10marks]

(CA) Record the following transactions in a two column ‘Cash-Book’ of Hari Das & Co.
1/1 Cash in Hand 25,000
Bank Balance 15,000
5/1 Received a cheque from Mohan & Co. 4,000
Discount allowed 200
7/1 Cash received from sale of Shares 12,000
8/1 Received Cash Rs. 900 & Cheque for Rs.700 from sales
9/1 Cash stolen & 1,500
Goods stolen 10,000
10/1 Paid into bank, including cheques received on 5 th & 8th Jan 10,000
12/1 Paid for repairs of Machinery & Vehicle 10,000
14/1 Drew a cheque for office use Rs.2,000 & for personal use Rs.1500
15/1 Paid to Mr. Chanderpal by cheque 6000
Discount received 500
16/1 Gave a cheque to Mr. Surender for cash purchase of furniture for office 5,000
20/1 Received a cheque from Nagesh & Co. for commission 1,800
20/1 Cheque received from Rajen for Rs.4,000 endorsed in favour of Kamal 4,000
22/1 Instructed the bank to issue a Bank Draft for Rs.6,000 in favour of Amrit Lal.
The Bank charged Rs.20 for issuing the draft.
24/1 Received a Bank Draft for Rs.3,900 from Raghubir in full settlement of Rs.4,000 due from him.
Discount claimed by him was disallowed.
29/1 Bank collected interest on securities for Hari Das & Co.
30/1 Deposited into bank, balance of cash in excess of Rs. 5000

OR

(CB) Record the following transactions of ‘M/s Trade India’, in its respective subsidiary books expect Cash Book.
1/1 Purchase Tube lights 3 gross @ Rs.80/pcs. Trade discount allowed @ 10%. Paid IGST @ 12%
2/1 Purchase Fans 20 pcs @ Rs.18,000/dozen. Fright paid of Rs.1,000. Paid IGST @ 12%
3/1 Sale of Electric Iron 6pcs @Rs.9600/dozen. Fright paid of Rs.1,000. Paid IGST @ 12%. 50% of total sale
is on cash base.
4/1 Purchase Fans 20 pcs @ Rs.18,000/dozen. Fright paid of Rs.1,000. Trade discount allowed @ 10%.
Paid IGST @ 12%
5/1 Sale of Laptop 3 pcs @ Rs.12,000/pc. Less 10% trade and freight paid Rs.500.
6/1 Sale of LED Bulbs 6 dozen @Rs.20160 /dozen. Fright paid of Rs.1,000. Paid IGST @ 12%. 50% of total
sale is on cash base.
7/1 Purchase Electric Iron 2 dozen @ Rs.80/pcs. Cash discount allowed @ 10% on cash payment
8/1 Purchase of 10 pcs Refrigerator @ Rs. 18,000 with IGST @ 28%.
Note:- 2 pcs Refrigerator is for office use only