BAF Shaheen College Dhaka
Practice Preparatory Test Examination-1 : 2020 Class X
(English Version) Subject : Accounting (Creative)
Time : 2 Hours 30 Minutes Full Marks70
[ N. B: Answer all the questions from Part-A and answer any five (5) questions from Part-B]
Part-A 1. Following is the Trial Balance of Surovi Traders as on 2018 :
Sl. No. Account Title L.F Debit Taka Credit Taka 1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
Opening stock Purchase and sales Return
Furniture Wages
Carriage inward Salary
Rent 5% loan Rates and tax Commission received Drawing and capital Additional capital (1/7/18) Machinery
20,000 80,000 3,000 24,000 3,000 1,000 12,000 5,000 6,000 10,000 90,000
1,20,000 4,000
28,000 2,000 80,000 20,000
Total 2,54,000 2,54,000
Other information :
1. Closing stock is 14,000 Taka. 2. Charge interest on capital @5%.
3. Depreciate 10% on fixed assets. 4. Interest on loan is due for one year.
a. Calculate net value of net fixed assets at the end of the year. 2
b. Determine net profit or loss. 4
c. Prepare owner’s equity statement of Surovi Traders. 4 2. Following is the balance of Safwan and Co. as on 31 December 2018 :
Sl. No. Account Name L.F Debit Taka Credit Take
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
Opening stock Purchase and sales Salary
Return
Insurance premium Trade discount Carriage Advertisement Discount received
Apprentice allowance and premium Sundry debtors
15,000 40,000 5,000 2,000 750 1,050 2,500 2,750 1,300 40,000
1,05,000 1,000 750
1,000 2,600
Total 1,10,350 1,10,350
Adjustments :
1. Closing stock 12,300 taka.
2. Goods purchase 2,000 taka are not recorded.
3. Goods withdraw by the owner of Safwan and Co. 1,000 taka was not recorded in the books.
4. Charge 4% provision of doubtful debt on debtors.
5. Advertisement was paid for 5 years.
a. How much amount of non-operating income? 2
b. Calculate Gross profit on the basis of information. 4
c. Determination of operating profit. 4
Part-B
3. Mrs. Rawana Amin is a trader of clothes. On December is a trader of clothes. On December 2019 following transactions occurred in her business:
Dec. 01 Purchased from Mr. Aazan Tk. 10,000 allowed 10% discount.
Dec. 03 Sold goods for cash Tk. 12,000.
Dec. 08 Goods returned to Mr. Aazan Tk. 1,000. Debit note no. 123.
Dec. 10 Repair of old furniture Tk. 500.
Subject Code 1 4 6
Dec. 15 Goods purchased on credit from Mr. Ikramul Hasan Tk. 20,000.
Invoice no. 109.
Dec. 20 Paid to Mr. Aazan Tk. 4,000.
a. Prepare a debit note with the help of transaction of December 8. 2
b. Prepare a purchase journal of Mrs. Rawana from the above transactions. 4
c. Pass the general journal entries from the above transactions except purchase journal entries. 4 4. On April, 2019 the following transactions occured in Mr. Fardin Arian’s business :
April 01 Business transfer expense Tk. 12,000 from Dhanmondi to Motijheel.
April 02 Stationary purchased Tk. 1,000.
April 04 New machine purchased Tk. 40,000.
April 04 New machine installation expense Tk. 2,500.
April 05 Repairing expense of old computer Tk. 1,000.
April 12 New battery and tire purchased for office car Tk. 25,000.
a. What is the amount of deferred revenue expenditure? 2 b. What is the amount of capital expenditure? 4
c. What is the amount of capital receipt and capital income, if the machine bought on April 4 sold for Tk. 45,000? 4 5. Following transactions are belongs to Rayta Enterprise during April 2019.
April 01 Started business with cash 50,000 taka.
April 02 Opening bank account with 10,000 taka.
April 06 Purchased from Saibaah 6,500 taka.
April 10 Rent prepaid 5,000 taka.
April 16 Cheque received from goods sale 12,000 taka.
April 21 Commission receivable 1,000 taka.
April 25 Goods purchase from Jarif by cheque 7,500 taka.
April 30 Bad debt Tk. 1,000 and Depreciation on furniture Tk. 5,000.
April 30 Paid 6,200 taka in full settlement to Saibaah.
Requirement:
a. Calculate the total amount of non-cash transactions. 2
b. Prepare a treble column cash book. 4
c. Prepare a cash payment journal with appropriate transctions. 4
6. Mrs. Saibaah Siddika is serving with monthly salary of Tk. 20,000. Moreover, she gets Tk. 5,000 per month from part time service.
On 1st January 2019 her cash in hand Tk. 30,000, House property and furniture Tk. 2,00,000 and deposit in D.P.S. Tk 1,00,000.
The following transactions are available this in her family : Food item purchase Tk. 30,000
House rent paid Tk. 50,000 Daily shopping Tk. 24,000 Furniture purchase Tk. 15,000 Grocery bill Tk. 4,000 Ornament purchase Tk. 60,000 Deposit in pension Scheme Tk. 25,000
a. Calculate the amount of family fund. 2
b. Determine the amount of closing cash fund. 4
c. Prepare income-expenditure account. 4
7. Balance of Mr. Jarif as on 31 December 2019 are as follow :
Receipts Taka Payments Taka
Capital Drawings Bills receivable Bills Payable General reserve Cash in hand (1-1-19) Stock (1-1-19) Bad debt
Provision for bad debt
1,50,000 50,000 30,000 25,000 5,000 6,000 40,000 5,000 3,000
Building Debtors Creditors Salaries
Apprentice premium (prepaid) Bank overdraft
Cash in hand (31-12-19) Insurance
Stock (31-12-19)
45,000 30,000 25,000 5,000 3,000 2,000 10,000 8,000 35,000
a. In the balance of Mr. Jarif which balance are not recorded and what amount that? 2 b. From the above balance prepared a Trial Balance of Mr. Jarif. 4
c. Determine current assets and short term liabilities of Mr. Jarif. 4
8. Sakib Bricks company made 1,00,000 bricks on 30th June 2019. Following expenditure occurred in his business :
Soil purchase Tk. 2,80,000; soil carriage Tk. 60,000; wages to worker Tk. 50,000; soil molding expense Tk. 30,000; coal Tk.
2,50,000; brickyard rent Tk. 20,000; carriage expense for carrying bricks to sales center Tk. 15,000 and sales commission Tk. 50 per thousand brick.
a. What is the commercial expense amount? 2 b. What is the production cost of Sakib bricks? 4
c. If he wants to earn profit 25% on sales, what is the sales price of per thousand brick? 4
9. The following transactions are taken from business of Aronno in April 2015.
April 01 Business transfer expenses from the business is Tk. 8,000.
April 02 Purchase of stationary Tk. 1,000.
April 04 Purchase of new machine Tk. 40,000.
April 04 Installation cost of new machine Tk. 5,000.
April 05 Repair cost of old computer Tk. 1,000.
April 12 New C.N.G, cylinder and Tier purchase Tk. 25,000 for office car.
Required :
a. Deferred revenue expense. 2
b. The capital expenditure. 4
c. The amount of capital receipt and capital income if the machine purchased on April 4 sold at Tk. 60,000. 4 10. The transactions of Mr. Ahnaf’s business are given below :
May 01 Bought from Mashfiq Brothers, Dhaka 500 kg rice at Tk. 65 per kg. Invoice No.11, Trade discount 5%, Carriage expense Tk. 500.
May 30 Bought from Shah Brothers, Jamalpur, 800 kg rice at Tk. 70 per kg, Invoice No. 14, trade discount 4%, packing expense Tk.300.
Required :
a. Prepare the calculation of total incidental expense. 2
b. Prepare a purchase journal. 4
c. Prepare a subsidiary ledger. 4
11. Mr. Ahil is a businessman. He has a nursery at Ashulia of Savar. He produces different types of sapling of flowers, fruits an d medicated trees. On July 2018 the following transactions occurred in his business:
July 05 Trees and seeds purchased from Ahna Tk. 25,000.
July 10 Sold to Areebah and Co. in cash Tk. 37,000.
July 19 Trees returned of Tk. 2,500.
July 30 Salary paid to employee of Tk. 4,500.
July 31 Advertisement expense of Tk. 1,500.
a. Pass the journal entries for the transactions of July 05 and July 10. 2
b. Determine the balance of cash account, purchase account and purchase return account using ‘T ledger format’. 4 c. Prepare Anha account, sales account, salary account and advertisement account using “Moving Balance Format.” 4
