Principle of Accounting

I.Com-2 Row-1 Test-2

Question No.1

Mr. Tipu keeps the book under single entry system. The position of his business as on 1 stjan.
2005was as under:
Sundry creditors, Rs. 17000, Freehold premises, Rs. 50000, stock Rs. 25000:sundry debtors, Rs.
20000; Furniture, 2000. An abstract of cash book is appended below:
Receipt RS. Payments RS.
Sundry debtors 15000 Overdraft(1.1.2005) 10000
Cash sales 80000 Expenses 50000
Drawings 3000
Sundry creditors 20000
Cash in hand 2000
Cash at bank 10000
Total 95000 Total 95000
Closing stock , 30000; Closing debtors , 25000, Closing Creditors, 12000, No additions were
made during the year to premises and furniture account, but they are to be depreciated at 10%
and 15% respectively. A bad debt reserve of 2.5% is to be raise

Question No.2
 Principle of Accounting
I.Com-2(Boys-Campus) Row-2 Test-2
Question No.1 Define the following Terms
Mr. Tipu keeps the book under single entry system. The position of his business as on 1 stjan.
2005was as under:
Sundry creditors, Rs. 17000, Freehold premises, Rs. 50000, stock Rs. 25000:sundry debtors, Rs.
20000; Furniture, 2000. An abstract of cash book is appended below:
Receipt RS. Payments RS.
Sundry debtors 15000 Overdraft(1.1.2005) 10000
Cash sales 80000 Expenses 50000
Drawings 3000
Sundry creditors 20000
Cash in hand 2000
Cash at bank 10000
Total 95000 Total 95000
Closing stock , 30000; Closing debtors , 25000, Closing Creditors, 12000, No additions were
made during the year to premises and furniture account, but they are to be depreciated at 10%
and 15% respectively. A bad debt reserve of 2.5% is to be rai
Question No.2