Guess Paper Class XI Subject ACCOUNTANCY Time : 3 hours Marks: 100 1.

1.Explain the meaning of the following terms with example: a. Debtors and creditors b. Receivables and payables. -4 2.Following are the transaction of Amar Ltd post them into the ledger of Rakesh. 2007 Feb 1 Rakesh purchased goods of Rs.5000 Feb 3 Rakesh sold goods of Rs.30000 to Amar Feb 8 Rakesh paid cash of Rs.2000 Feb 10 He returned goods of Rs.2000 purchased by him 3.Show the accounting equation on the basis of the following transactions. (7+7) a.opening balances of assets: cash Rs.40000, goods Rs.20000 and furniture Rs.1000 b.sold goods to Vikram on credit costing Rs.400 for Rs.500 c.paid salary in advance Rs.500 d.rent outstanding Rs.100 e.charge deprecation on furniture Rs.100 f.goods lost by fire Rs.500 g.purchased household furniture for Rs.15000, giving Rs.5000 in cash and balance through a loan. 4.Give journal entries in the books of Mr.Naresh: -10 2008 Jan 1 started business with Rs.10000 Jan 2 purchased goods from Gautam of Rs.1000 at 10% trade discount. Jan 5 Naresh sold goods of Rs.5000 @5% trade discount and 10% cash discount. Jan 10 Naresh returned goods of Rs.200 Jan 14 gave away as charity goods of Rs.500 and cash Rs.520. 5.Record the following in Double Column Cash Book of Savitri. -10 2006 Oct 1 cash in hand 2100 Bank overdraft 5600 Oct 3 purchased goods by cheque 1860 Oct 8 paid into bank 2000 Oct 10 cash sales at a discount of 2% 20000 Oct 15 received from Ankit Rs.300 and discount allowed Rs.25 Oct 20 purchased a computer and paid by cheque Rs.15900 Oct 25 deposited into bank all cash except Rs.100 -6

6.Prepare purchase book from the following transactions of August 2004. Aug 4 purchased from Prem Bros. Delhi : 50 tins Golda Refined Oil @Rs.600 per tin 50 tins Postman Refined Oil @Rs. 300 per tin 40 bags sugar @ 1500 per Qt.(Weight of one bag 95 kgs) Aug 16 purchased form Gain Chand Mahender Kumar 50 tins Golda Refined Oil @Rs.600 per tin 100 Bags Parmal Rice @Rs. 750 per bag Aug 20 purchased from Mayank Trading Company 50 bags sugar @Rs, 1450 per Qt (Weight of one bag 95 kgs) 50 bags rice @Rs.750 per bag. 7.Prepare the sales book from the following transactions. -10 2004 Jan 1 sold goods to Nanda on credit 1000 Jan 5 sold goods to Desai and Co. 885, Vat @10% Jan 15 Goods purchased by Anil from us Rs.8000 @10% trade discount. Jan 18 sale made to Bhanu Mal Rs.2800, Vat @5% Feb 3 goods purchased by Sunder 1500

-10

8.Prepare petty cash book on the basis of the following transactions in the books of Swami Agencies. The cash book is maintained on imprest system. -12 Date Voucher no. Particulars Amount 2006Jan 1 Jan 1 Jan. 10 Jan 18 1 201 202 204 205 206 207 208 209 210 211 Opening balance Postage stamps purchase

Conveyance paid Paid for snacks in office Cartage paid Stationery purchased Taxi fare paid Telegram charges Stamps purchased Drawing pins purchased Sundry expenses 2000 55 65 130 15 85 78 24 12 6 320 9.Prepare purchased return and sales return book from the following transactions of December , 2004. -12 Dec 2 returned to Baluja Shoe Company, Agra 50 repairs Chappals @Rs.100 per pair being not upto the approved sample. Less 10% trade discount Dec 12 returned to Mayur Shoe Company, Amabala 20 pairs sports shoe @Rs.250 per pair 30 pairs P.T. shoes @Rs.50 per pair being defective. Less 20% trade discount Dec 18 Kashmir Boot House returned to us 10 pairs shoes @Rs.200 per pair being goods supplied without getting order. , vat @10% Dec 23 college shoes, Ambala returned to us: 10 pairs ladies chappal @Rs.60 per pair 5 pairs ladies scandals @Rs.200 per pair Dec 28 returned to rose shoes company 15 pairs school shoes @Rs.70 per pair 100 pairs plastic chappal @Rs.40 per pair

10.From the following particulars, ascertain the bank balance as per pass book as on 30th June,1996: -12 1. Credit balance as per cash book on 30.6.97 Rs.3000 2. Interest debited by bank Rs.100 3. Bank charges debited by bank Rs.40 4. Cheques of Rs.5000 deposited but cheques of Rs.3700 were credited by the bank upto 30.06.97 5. Two cheques of Rs.1500 and Rs.3000 were issued but only one was presented for payment cheque of Rs.1500

6. Dividend on shares Rs.750 collected by bank, but no entry has been passed in the cash book 7.Cheque issued but not recorded in the cash book Rs.1000 8.Debit side of the cash book underacted by Rs.1000

CBSE Board Sample Papers 2005 for Class 11 Accountancy

Guess Paper 2005 Class XI Subject ACCOUNTANCY TIME : 3:00 hr MM : 100 GENERAL INSTRUCTIONS: 1.This question paper contains two parts. Part 1 and Part 2 2.Attempt all questions 3.All parts of the questions should be attempted at one place PART-A 1.Explain the various uses of accounting information? 2.Name the various types of assets and liabilities? 3.Define accounting 1 1 1 1

4.Explain the accrual concept .

5.Explain the Going concern concept of accounting 6.Explain the dual aspects in the following transaction: Outstanding Salary Rs. 300 1

7.Explain the money measurement concept of accounting. 8.What are the difference between a debtor and creditor? 9.What are the uses of a trial balance? 10.Explain the following terms: a.Journal b.Ledger c.Bank Reconciliation Statement 1

1 1

11.Draw the format of following subsidiary books: a.Purchases day book b.Sales day book c.Petty cash book 3 12.Journalise the following: 1-1-2009. Started business with cash Rs. 25,000 2-1-2009. Purchased furniture from Rajan Rs. 15,000 3-1-2009. Sold goods to Sukumaran Rs. 50,000 4-1-2009. purchased stationary for Rs. 300 5-1-2009. Paid Salary Rs 500. 3 13.Prepare a Trial Balance from the following Data: Cash 25,000 Capital 50,000 Debtors 30,000 Creditors 30,000 B/R 15,000 B/P 25,000 Land 20,000 Overdraft 30,000 Plant 60,000 Profit 15,000 3 14.Explain the various types of source documents and name any three. 15.Name the various accounting concepts 4 3

16.Prepare a bank reconciliation Statement from the following data: a.Balance as per Pass book Rs. 30,000 b.Cheque deposited into bank but not presented for payment Rs. 25,000 c.Cheque send for collection dishonored Rs.15,000 d.Bank charges debited not entered in the cash book Rs. 500 e.Interest charged on deposit not entered in the cash book Rs. 400

f.Cheque issued but not presented for payment Rs. 6,500

4 4

17.Explain the qualitative characteristics of accounting information? 18.Explain the following : a.Reliability b.Comparability. 6 19.Prepare a Double column cash book form the following data: 1-1-2010 Opening Balance: cash 25,000 bank14,000 2-1-2010 Purchased goods for cash Rs. 30,000 5-1-2010 Sold goods for cash Rs. 80,000 6-1-2010 Paid rent Rs. 500 7-1-2010 Paid salary by cheque Rs1, 500 11-1-2010 Received cheque from Rajan Rs. 11,000 12-1-2010 Paid to Somu through cheque Rs. 12,000 15-1-2010 Cheque received form Rojan dishonored Rs. 15,000 20-1-2010 Paid rent through cheque Rs. 600 31-1-2010 Received commission through cheque Rs. 400 6

20.On 1st January 2010 sold goods to Bakri for Rs. 45,000. On 10th January 2010 sold old typewriter for cash Rs 600. On 12nd January 2010 withdrawn cash from bank for office use Rs15,000 . Prepare credit vouchers for the above transaction of M/s Fukre & co. 21.State the nature of the accounts(personal ,real, nominal) (a) Building (b) Purchases (c) Sales (d) Bank Deposit (e) Rent (f) Rent Outstanding (g) Cash (h) Adjusted Purchases (i) Closing Stock (j) Investments (k) Debtors (l) Sales Tax Payable (m) Discount Allowed (n) Bad Debts (o) Capital (p) Drawings 8 PART B 22.Explain the difference between cash discount and trade discount? 23.Explain the process of accounting : 24.Calculate total assets if : (i) Capital is Rs 40,000 (ii) Creditors are Rs 25,000 (iii) Revenue during the period is Rs 50,000 4 2

(iv) Expenses during the period is Rs 40,000 4 25.From the following, prepare a trial balance of Anuj & Ashwin Traders as on 31 March 2010. 6 Account Head Rs . Capital 1,00,000 Sales 1,66,000 Purchases 1,50,000 Sales return 1,000 Discount allowed 2,000 Expenses 10,000 Debtors 75,000 Creditors 25,000 Investments 15,000 Cash at bank and in hand 37,000 Interest received on investments 1,500 Insurance paid 2,500 26.Explain the advantages of Accounting 6

27.Show the accounting equation on the basis of the following transactions: 6 i.Sohan started business with cash Rs.50,000 ii.Salaries paid RS 2,000. iii.Wages outstanding Rs 200. iv.Prepaid insurance Rs.700. v.Interest due but not paid Rs.700. vi.Rent paid in advance Rs.100. Deeoak gupta started business on 1st April,2001 with plant and machinery worth Rs 400,000,furniture worth Rs 100,000,building worth Rs 500,000 and cash Rs 100,000.journalise the following transactions for the month of April, prepare ledger accounts and take out a trial balance.

CBSE Board Sample Papers 2007 for Class 11 Accountancy

Guess Paper 2007 Class XI Subject ACCOUNTANCY Time : 3 hours Marks: 100 Q.1.Explain the meaning of the following terms with example: a. Debtors and creditors

b. Receivables and payables. -4 Q.2.Following are the transaction of Amar Ltd post them into the ledger of Rakesh. 2007 Feb 1 Rakesh purchased goods of Rs.5000 Feb 3 Rakesh sold goods of Rs.30000 to Amar Feb 8 Rakesh paid cash of Rs.2000 Feb 10 He returned goods of Rs.2000 purchased by him Q.3.Show the accounting equation on the basis of the following transactions. (7+7) a.opening balances of assets: cash Rs.40000, goods Rs.20000 and furniture Rs.1000 b.sold goods to Vikram on credit costing Rs.400 for Rs.500 c.paid salary in advance Rs.500 d.rent outstanding Rs.100 e.charge deprecation on furniture Rs.100 f.goods lost by fire Rs.500 g.purchased household furniture for Rs.15000, giving Rs.5000 in cash and balance through a loan. Q.4.Give journal entries in the books of Mr.Naresh: -10 2008 Jan 1 started business with Rs.10000 Jan 2 purchased goods from Gautam of Rs.1000 at 10% trade discount. Jan 5 Naresh sold goods of Rs.5000 @5% trade discount and 10% cash discount. Jan 10 Naresh returned goods of Rs.200 Jan 14 gave away as charity goods of Rs.500 and cash Rs.520. Q.5.Record the following in Double Column Cash Book of Savitri. -10 2006 Oct 1 cash in hand 2100 Bank overdraft 5600 Oct 3 purchased goods by cheque 1860 Oct 8 paid into bank 2000 Oct 10 cash sales at a discount of 2% 20000 Oct 15 received from Ankit Rs.300 and discount allowed Rs.25 Oct 20 purchased a computer and paid by cheque Rs.15900 Oct 25 deposited into bank all cash except Rs.100 Q.6.Prepare purchase book from the following transactions of August 2004. Aug 4 purchased from Prem Bros. Delhi : 50 tins Golda Refined Oil @Rs.600 per tin 50 tins Postman Refined Oil @Rs. 300 per tin 40 bags sugar @ 1500 per Qt. (Weight of one bag 95 kgs) -10 -6

Aug 16 purchased form Gain Chand Mahender Kumar 50 tins Golda Refined Oil @Rs.600 per tin 100 Bags Parmal Rice @Rs. 750 per bag Q.7.Prepare the sales book from the following transactions. -10 2004 Jan 1 sold goods to Nanda on credit 1000 Jan 5 sold goods to Desai and Co. 885, Vat @10% Jan 15 Goods purchased by Anil from us Rs.8000 @10% trade discount. Jan 18 sale made to Bhanu Mal Rs.2800, Vat @5% Feb 3 goods purchased by Sunder 1500 Q.8.Prepare purchased return and sales return book from the following transactions of December , 2004. -12 Dec 2 returned to Baluja Shoe Company, Agra 50 repairs Chappals @Rs.100 per pair being not upto the approved sample. Less 10% trade discount Dec 12 returned to Mayur Shoe Company, Amabala 20 pairs sports shoe @Rs.250 per pair 30 pairs P.T. shoes @Rs.50 per pair being defective. Less 20% trade discount Dec 18 Kashmir Boot House returned to us 10 pairs shoes @Rs.200 per pair being goods supplied without getting order. , vat @10% Dec 23 college shoes, Ambala returned to us: 10 pairs ladies chappal @Rs.60 per pair 5 pairs ladies scandals @Rs.200 per pair Dec 28 returned to rose shoes company 15 pairs school shoes @Rs.70 per pair 100 pairs plastic chappal @Rs.40 per pair Q.From the following particulars, ascertain the bank balance as per pass book as on 30th June,1996: -12 9. Credit balance as per cash book on 30.6.97 Rs.3000 10. Interest debited by bank Rs.100 11. Bank charges debited by bank Rs.40 12. Cheques of Rs.5000 deposited but cheques of Rs.3700 were credited by the bank

upto 30.06.97 13. Two cheques of Rs.1500 and Rs.3000 were issued but only one was presented for payment cheque of Rs.1500

14. Dividend on shares Rs.750 collected by bank, but no entry has been passed in the cash book 15.Cheque issued but not recorded in the cash book Rs.1000 16.Debit side of the cash book underacted by Rs.1000

CBSE Board Sample Papers 2009 for Class 11 Accountancy

Sample Paper 2006 Accountancy CLASS :XI (set-3) Maximum Marks: 100 Time Allowed : 03 Hrs. General Instructions: 1 This question paper contains 21 questions. 2 All questions are compulsory. 3 The figure in the braket indicates Marks allotted to each question. 4 Candidates can attempt the question in chronological order. Q1.Point out one transaction which will affect capital only in an accounting equation? (2) Q2.Distinguish between a promissory note and a bills of exchange. Q3.Give two examples of capital reserve. (2) (2)

Q4.Calculate the closing capital to be shown in balance sheet of Mr.Niskarsh from the following particulars . (3) Capital on the opening date Rs.50,000 Drawing during the year Rs.20,000 Interest on drawing Rs.2,000 Interest on capital Rs.5,000 Profit for the year Rs.10,000 Q5.How can you arrange the Assets and Liabilities in a Balance sheet ? Q6.Enter the following transactions in a Sales Book: (3)

2005 Sept. 1,Sold to Malhotra Bros. NewDelhi. 100 Lux soap@ Rs. 10 per soap. 200 Lux sampoo@ Rs. 2 per sampoo. Less - 10% Trade Discount. Sept. 10 Sold to Sanskar & Co. Raipur. 250 Parachute Hair Oil bottle @ Rs.20 per bottle 500 Vaseline Body Lotion Packets @ Rs.5 per packet Delivery Charge Rs. 50/Less 10% Trade Discount (3) Q7.Explain how are Accounting Standards derived? Q8. Explain the users of accounting informations. (3) (4)

Q9.A machine was purchased for Rs. 40,000 on 31.03.2003. Rs. 2,000 were spent for carrying cost and Rs. 3,000 were spent for installing the machine. The estimated life of the machine is fixed at 5 years after which the machine will provide Rs. 4,000 as scrap value. Calculate the amount of depreciation for the years 2003, 2004 and 2005 assuming the accounting year is ended on 31st December energy year. (4) Q10. Prepare a Bark Reconciliation statement from the informations given below :(i) Bank overdraft as per cash book as on 30th April ,2005 Rs. 2,000. (ii) Cheques issued but not presented for payment Rs.1,250. (iii) Rs. 25 charged by the bank on account of bank charges not yet entered in the cash book. (iv) Rs. 800 in respect of a dishonored cheque were recorded in the pass book but not in cash book. (v) Interest charged by the bank Rs.75 but not entered in the cash book. (4) Q11. How do you identify the hidden adjustments while preparing the final account. (4) Q12. Miku accepted a bill drawn by Chiku for Rs.5,000 after 3 months on January , 1 , 2005. On the due date, Miku becomes insolvent and a dividend at the rate of 40 paise in a rupee was received. Pass necessary journal entries in the books of Chiku and Miku. (4) Q13. Rectify the following errors. a.Purchase Book overcastted by Rs. 3,000 b.Purchase of machine for Rs. 5,000 was entered in the debit side of purchase account. c.Sold goods to Mohan Rs. 12,000 entered in debit side of Sohans account as Rs. 1,200. d.A major repairs to building Rs.25,000 was debited to repairs account.

e.Cash received from Shankar Rs. 4,000 was completely omitted to record. f.Sales book undercasted by Rs. 2,500. (6) Q14.What are the financial statements? What information do they provide? Q15.(a) Calculate Gross Profit from the following particulars : Cost of good sold - Rs.24,000 Gross Profit - 25% on sales (b) Explain the following Principles :(i)Historical Cost. (ii)Accounting Entity. (iii)Materiality. (6)

(3x2 =6)

Q16.Explain the following terms in accounting with examples: (a) Debtors. (b) Creditors (c) Liabilities (d) Debit (e) Expenditure (f) Bank Overdraft

(6)

CBSE Board Sample Papers 2010 for Class 11 Accountancy

Subject Accountancy (Set-1) Time Allowed:3hours M.M.:8 General instructions: (a) This question paper is divided into two parts i.e Part- A and Part- B. (b) All questions are compulsory. Attempt all parts of a question at one place only. (c) Marks are indicated against each question. (d) Show all the working notes very clearly. PART- A Q.1 Q.2 Why and by whom is an Income and Expenditure Account is prepared? State any two items that may appear on debit side when capitals are fixed. (1) (1)

Q.3 How are accumulated profits and losses adjusted at the time of admission of a partner? Give journal entry. (1) Q.4 Q.5 What do you mean by Super Profit? (1) (1)

What do you mean by debentures issued as collateral security?

Q.6 On the basis of the following information, calculate the amount of stationery to be shown in the Income and Expenditure A/c for the year ended 31st March, 2007. Rs. Stock of stationery as on 1-04-2006 1,00,000 Stock of stationery as on 31-03-2007 80,000 Amount paid for stationery during the year 4,00,000 Creditors as on 1-04-2006 40,000 Creditors as on 31-03-2007 20,000 (3) Q.7 State the conditions under which shares can be issued at discount. (3)

Q.8 A limited company issued 1,000 equity shares of Rs.100 each as fully paid up in consideration of the purchase of plant and machinery worth Rs.99,000. Make entries in the books of the company. (3) Q.9 X, Y and Z are partners in a firm sharing profits in the ratio of 5:3:2. They decide to share future profits and losses in the ratio of 2:3:5 with effect from 1st April, 2006. They also decide to record the effect of the following revaluations without affecting the book values of the assets and liabilities, by passing a single adjustment entry: Book Value Revalued Value Rs. Rs. Land and Building 1,00,000 1,50,000 Plant and Machinery 1,50,000 1,40,000 Trade Creditors 50,000 45,000 Outstanding Expenses 45,000 60,000 Pass the necessary single adjustment entry. (4) Q.10(a) Calculate interest on drawings of Mr.X if he withdraws Rs.1,200 at the end of every month, assuming interest on drawings is calculated @ 10 % p.a. (b) Ram and Mohan are partners in a firm sharing profits and losses in the ratio of 3:2. Their fixed capitals were Ram: Rs.1,20,000, Mohan : Rs.90,000. For the year 2006 interest on capital was credited to them 6% instead of 5%. Give necessary adjusting entry for the rectification of the error. Show working notes clearly. (4) PART- B Q.1.Why and by whom is an Income and Expenditure Account is prepared? (1)

Q.2.State any two items that may appear on debit side when capitals are fixed. (1) Q.3.How are accumulated profits and losses adjusted at the time of admission of a partner? Give journal entry.(1) Q.4.What do you mean by Super Profit? (1) (1)

Q.5.What do you mean by debentures issued as collateral security?

Q.6.On the basis of the following information, calculate the amount of stationery to be shown in the Income and Expenditure A/c for the year ended 31st March, 2007. Rs.Stock of stationery as on 1-04-2006 1,00,000 Stock of stationery as on 31-03-2007 80,000 Amount paid for stationery during the year 4,00,000 Creditors as on 1-04-2006 40,000 Creditors as on 31-03-2007 20,000 (3) Q.7.State the conditions under which shares can be issued at discount. (3)

Q.8.A limited company issued 1,000 equity shares of Rs.100 each as fully paid up in consideration of the purchase of plant and machinery worth Rs.99,000. Make entries in the books of the company. (3)

CBSE Board Sample Papers 2011 for Class 11 Accountancy

SAMPLE QUESTION PAPER 2011 ACCOUNTANCY CLASS 11 _______________________________________________________________________ Time: Three Hours Maximum Marks: 100 _______________________________________________________________________ Note: The question paper is divided into two sections A and B. Attempt all questions of Section A and any one question of Section B:

Section A Note: All questions are compulsory 1.Give an example each of capital expenditure and revenue expenditure. 2.What is the legal provision of Profit sharing ratio if nothing is given in Partnership Deed? 3.A student of Accountancy feels that a Simple Cash Book always shows a credit balance. Give your opinion. 4.Define anyone of the following: i) Vouchers ii) Supporting Vouchers iii) Accounting Vouchers 5.What is Bank Reconciliation Statement? 6.Give the names of any four assets in liquidity order. 7.Give the formulae of Sacrificing ratio and Gaining Ratio. 8.Explain in brief the term Accounting and give any two differences between bookkeeping and Accounting. 9.What is going-concern Assumption? Explain briefly its significance. 10.The Capital of is a business concern is Rs. 1,00,000. The value of assets is Rs. 2,00,000. Complete the accounting equation with four suitable liabilities assuming imaginary figures. 11.Suppose the bank account in your ledger shows a credit balance. What will be the effect of following transactions in your pass book balance. (i) One of your customers deposit some amount directly into your bank account. (ii) Bank Charged interest on the amount overdrawn by you. (iii)A cheque deposited last week by you has been dishonoured. Bank charged some amount on account of it. (iv)Under your standing instructions Bank paid your insurance premium to the Insurance Company. 12.A, B and C are equal partners. B retires on March 1, 1997 and his share is taken over by A and C in the ratio of 3:5. Profits upto Dec.97 is Rs. 18,000. Total 13.Goodwill of the firm is Rs. 24,000. How much will B get from A and C for goodwill

and how much will he get for profit for 1997? Pass necessary journal entries. 14.What is meant by the term Forfeiture of Shares? Can forfeited shares be reissued at discount? If so, to what extent? Where would you transfer the balance left in the shares forfeited account of the reissue of such shares? 15.A Ltd. Co. having a nominal capital of Rs. 20,00,000 divided into 2,00,000 equity shares of Rs. 10 each, offered to the public for subscription 1,00,000 equity shares at a premium of Rs. 2 per share payable as: On application On allotment On Ist Call On final Call 16.All the shares offered were applied for and alloted. The allotment money was received in full. A shareholder holding 100 shares failed to pay the first call and his shares were forfeited. These shares were reissued at Rs. 6 per share, Rs. 7 per share paid up. Final call has not been made. 17.(a) Stock on hand on 31.3.98 was Rs. 3,250 (b) Depreciate Building at 5%, Furniture and fittings @ 10% and Motor Vehicle by Rs. (c) Rs. 85 is due for interest on Bank Overdraft. (d) Salaries Rs. 300 and Taxes Rs. 120 are outstanding. (e) Insurance is prepaid to the extent of Rs. 100. (f) One fifth of the commission received is in respect of the work to be done next year. 18.Prepare Trading and Profit and Loss Account for the year ended 31st March 98 and Balance Sheet as on that date. 19.Prepare Accounting Vouchers: Transfer of Share Application money to share capital A/c Rs. 20,000 and share Allotment money received Rs. 40,000 Prepare Transfer Voucher from the supporting voucher based on 1998 May I Purchased goods from M/s Ajay Brothers vide Bill No. 100/- Rs. 3,000 i) Prepare a Debit voucher from the supporting voucher based on 1998 May 10 Wages paid vide wage sheet No. 21 Rs. 1,000 ii) Prepare a credit voucher from the following 1998 May 15 Withdraw cash from bank for office use vide cheque No. 1785 Rs. 1,500 Section B Attempt any one question of section B: 20.How will you interpret the ratio calculated in the above question?

Calculate the funds from operation from the information given below: Net Profit for the year Rs. 65,000 Profit on sale of Building Goodwill written off Depreciation provided during the year Machinery Costing Rs. 800 sold 21.a) Write short notes on: i)Donations ii)Entrance fees b) i) Calculate what amount of subscription will be posted to Income and Expenditure A/c for the year ending 31st December 1997: Subscription received during the year For 1996-Rs.80 For 1997-Rs.4,220 For 1998-Rs. 160 There are 450 members, each paying Rs. 4,460 as annual subscription of Rs. 10, Rs. 90 were in arrears for 1996 at the beginning of 1997. ii)Why do we prepare Income & Expenditure A/c in place of P&L A/c for Non Trading organization c)From the information given below, prepare Income and Expenditure A/c for the year ended Dec. 31, 1997