Subject code:
B A F Shaheen College Dhaka Practice Pre-Test Examination-2020
Class-X (English Version)
Subject: Accounting (Creative)
Time: 2 Hours 30Minutes Full Marks: 70
[N.B.- The figures in the right margin indicate full marks. Answer any seven questions in total including two questions from Group A and any five questions from Group B]
Group-A
1. The trial balance of Areebah Enterprise are given below:
Areebah Enterprise Trial Balance 31 December 2018
Adjustments:
1. Closing inventory Tk. 15000 2. Outstanding wages Tk. 1000
3. Charge 5% provision for bad debt on debtor 4. Good purchase Tk. 5000 was not recorded.
Requirements:
a. Calculate the amount of net purchase of Areebah Enterprise. 2 b. Calculate Gross profit/loss of Areebah Enterprise. 4 c. Determine the net profit or loss on the basis of above information. 4
1 4 6
Particulars Debit(Taka) Credit(Taka)
Opening stock (1-1-2017) Purchase and Sales Wages
Salary Freight Stationary Rent Return
Bad debt and allowance for bad debt
10% investment Creditors Debtors
Lease Property(10 years)
30000 255000 15000 20000 6000 6000 12000 5000 3000 140000 50000 60000
562000
2000 30000
2. The trial balance of Anha Traders of 2018 is as follows:
Adjustments:
1. Closing stock purchase price Tk. 24000 and market value Tk. 32000.
2. Goods sold on credit Tk. 5000 was not recorded.
3. Charge 10% depreciation on furniture.
4. Advance salary got for 2 months.
Requirements:
a. Calculate the net value of the furniture. 2 b. Calculate net profit or loss, assuming gross profit of 72000. 4 c. Prepare statement of financial position as on 31 December, 2018 of Anha Traders. 4 Group-B
3. Mansib Trader’s transactions during July 2017 are given below:
July 01 Business started with cash Tk. 70000 and furniture Tk. 50000
July 3 Deposited to bank Tk. 10000
July 6 Credit purchase Tk. 17000
July 10 Cash sold to Ruhama Traders Tk. 25000
July 14 Withdrawn for personal necessity Tk. 2500
July 19 Paid to creditors Tk. 9000
July 25 Goods sold by cheque Tk. 14000
July 30 Salaries paid to employees Tk. 5000
a) Credit voucher will be prepared for how much amount of transactions? 2 Particulars Debit(Taka) Credit(Taka)
Drawing and Capital Furniture
10% Loan Cash in hand
Debtors and Creditors Wages
Salary Commission Office equipment Purchase and Sales Opening Stock in trade
35000 100000
35000 40000 12400 21000 100000 100000 42600 486000
155000 90000 44000
2000 195000
486000
b) Mention the parties with classification of accounts for 6,14,19 &25 dated transactions. 4 c) Show the effects of transactions of accounting equation in the tabular statement. 4 4. Following assets and liabilities of Mr. Mashfiq have owned by heir as on January 1,
2017: Flat house TK. 3000000; Furniture Tk. 200000;Crockeries Tk. 50000 and loan Tk.
1800000
Receipts Taka Payments Taka
Cash in hand Salary received
Income from television Sale of newspaper
10000 85000 15000 1000
111000
Food House rent Electricity bill
Grocery and stationery Municipal tax
Television purchase Refrigerator purchase Entertainment
Conveyance and others
Education and medical expenses Gold purchases
Cash in hand
20000 18000 2000 5000 1000 10000 12000 4000 5000 6000 20000 8000 111000
a. Determine the opening or primary following fund of Mr. Khairul. 2 b. Determine the surplus or shortage of income of Mr. Khairul. 4 c. Prepare a statement of financial position of Mr. Khairul from the above all informations.4
5. The ledger balances of Tawsif Traders in 2018 at December are as follows:
Cash at hand(31-12-2017) Cash at hand (1-1-2017) Debtors
Creditors Furniture Machinery
Stock of goods(31-12-2017) Stock of goods(1-1-2017) Bank overdraft
Capital
Advanced salaries Outstanding wages Purchases
Sales Carriage Commission
15500 8000 30000 25000 100000 200000 12500 20000 45000 250000 6000 12600 120000 166300 5900 1500
a. In the trial balance which balances are not required and amount of that? 2 b. By using the given data, find out the amount of current assets and current liabilities. 4 c. Prepare a trial balance of Tawsif Traders dated 31 December 2018. 4 6. The transactions of Ahnaf Brothers on December 2019 are given below:
2019
December 1 Cash balance Tk. 45000 and bank balance Tk. 95000.
December 10 Withdrew from bank Tk. 10000 for personal use.
December 15 Cost of advertisement Tk. 2500.
December 17 Withdrew from bank Tk. 15000.
December 20 Sold goods by cash Tk. 6000.
December 25 Deposit to bank Tk. 3000.
December 30 Paid salary Tk. 5000 by cash and Tk. 2000 by cheque.
Requirements:
a. What is the amount of contra entry of Ahnaf Brothers. 2 b. Prepare cash receipt journal of Ahnaf Brothers from the above transaction. 4 c. Prepare a proper cash book considering the above information of Ahnaf Brothers. 4 7. Mr. Araf is a wholesaler. Some transactions for November 2019 of his organizations are
as follows:
November 5 Sold to Shuzal Stores,Dhaka 1 quintal until Tk. 100 each kg Trade discount 5%, Invoice No. 248, Terms 2/10 Net 30
November 7 Sold to Raihan Stores, 200 pound tea Tk. 220 each pound, Discount 4%, Invoice No. 280
November 15 Sold to Nisat and Sons 300 bags atta Tk. 2000 each bag. Invoice No. 270.
November 30 Returned from Shuzal stores 10 kg until due to spoilage.
Requirements:
a. From the above transactions prepare a Credit note. 2 b. Prepare a sales journal of Mr. Araf. 4 c. Prepare subsidiary ledger of Mr. Araf. 4 8. Azrof Traders made 500000 pieces of brick at the end of year 31-12-18. Expenses for
manufacturing bricks are as follows:
Soil purchase Tk. 650000, Coal purchase Tk. 250000, Carriage expenses Tk. 120000, Wages of labors Tk. 180000, Rent and electricity for soil set up place Tk. 100000, Advertisement expenses Tk. 25000, Office rent Tk. 25000, Salesman salary Tk. 35000.
Requirements:
a. Calculate the prime cost f Azrof Traders. 2 b. Find out the total cost of Azrof Traders. 4 c. Determine the sales price per thousand of bricks, assuming 20% profit on total cost. 4
9. The following transactions are taken from the business of Ankita Traders in April 2018:
April 01 Research expenses of new product Tk. 10000.
April 02 Purchase of stationery Tk. 2000.
April 04 Purchase of new machine Tk. 50000.
April 04 Installation cost of new machine Tk. 5000.
April 05 Repair cost of old computer Tk. 1000.
April 12 New CNG, Cylinder and Tire purchase Tk. 15000 for office car.
April 16 Advertisement expenses Tk. 12000 for 4 years.
Requirements:
a. Calculate the deferred revenue expenses. 2 b. Determine the revenue expenses and the capital expenses. 4 c. Compute the amount of capital receipt and capital income if the machine purchased
on April 4 sold at Tk. 80000. 4 10. 2019
Feb-01 Cash balance Tk. 27000, Debtors Tk. 15000 and bank balance Tk.12000.
Feb-05 Goods sold on credit Tk. 28000.
Feb-13 Goods purchased in cash Tk. 10000.
Feb-18 Sales return Tk. 3000.
Feb-26 Received from debtors Tk. 25000.
Requirements:
a. What is the amount of opening capital? 2 b. Pass journal entries of the transactions. 4 c. Prepare a ledger of Cash account and Debtors account in moving balance format. 4 11. Mr. Mashfiq does not keep his business ‘s account properly. The following information
has been collected from his account book:
Particulars 01-01-2018 31-12-2018
Cash balance 35000 50500
Debtors 40000 35500
Creditors 35000 20000
Stock-on-trade 70000 120000
Bank loan 10000
Furniture 20000 40000
He withdrew Tk. 500 every month in that year and for the business purpose he invested Tk. 30000 as additional capital.
Requirements:
a. Calculate the amount of opening capital of business.
b. Find out closing capital of business in the light of stem.
c. Determine the amount of profit or loss of above business in the light of stem.
