Ravi Sir & Sanjeev Sirs Nimble Education for ISC,CBSE,ICSE, IB, AS & A

Levels
Contact : 9033311500, 8866611600
------------------------------------------------------------------------------------------------------------------------------------------------Revision Test
------------------------------------------------------------------------------------------------------------------------------------------------Q1. From the following transactions you are required to prepare a triple column cash book and Journal Proper
for month of Feb.
1. Cash Balance Rs 200,000 and Bank Balance (Cr)Rs 50,000
2. Bought goods and paid by cheque Rs 100,000
4. Purchased goods from James Rs 10,000
5. Sold goods to Rahim Rs 7,000
6. Paid wages Rs 500
8. Received a cheque for Rs 6,600 from Rahim in full settlement of his account.
9. Paid James by cash Rs 9,500 in full settlement of his account
11. Received commission by cash Rs 2,000
12. Cash paid into bank Rs 3,000
13. Received a cheque from Anil Rs 3,600 in full settlement of account of 3,700
14. Deposited Anils cheque into bank
16. Deposited all cash but Rs 5,000 into bank
Q2. Give journals for the following transactions for the month of January.
1.A started business with a loan of Rs 50,000 from Anuj a close friend, Along with Machinery worth Rs
100,000,Equipments worth Rs 60,000 into business
5.Purchased goods from Anish Rs 50,000.Trade discount allowed @ 10%
7.Sold goods for cash Rs 250,000. Deposited half of the cash into bank.
14.Sold goods to Anurag Rs 20,000.Trade discount received by him @ 10%
15.Paid to Anjum Rs 9750 in full settlement of Rs 10,000
16.Purchased a second hand machine for Rs 34,000 from Machine traders pvt ltd.Paid for its transportation in
cash Rs 1,000 and for repairs Rs 3,000 by cheque.
17.Goods damaged by fire Rs 3,000.Insurance claim admitted for 70% of the goods value.
18.Received a cheque of Rs 9,500. Allowed him discount Rs 200.
19.Supplied goods to Anshul costing Rs 50,000, at an invoice price of 20% above cost less 1% trade discount
20.Rs 20,000 was due from Roshan. He was declared insolvent and 30 paise in a rupee was recovered in full
and final settlement from him
21.Depreciation is to be charged on equipments costing Rs 25,000 @ 20% p.a for 3 months
23.Paid Income tax Rs 5,000 and sales tax Rs 2,000
Q3.Identify the following as Capital expenditure, Revenue expenditure, Capital receipts, Capital payments,
Revenue income, Capital Income with reasons.
(a)Rs 50,000 spent to increase the capacity of the plant and machinery costing 40000 valued at 60000 from
8,000 units to 10,000 units
(b)Legal expenses of Rs 40,000 and stamp duty of Rs 50,000 paid on the acquisition of building.
(c)Repair charges of Rs 10,000 incurred because of employees negligence

Ravi Sir & Sanjeev sirs Nimble Education for ISC,CBSE,ICSE, IB, AS & A
Levels
Contact : 9033311500, 8866611600

Ravi Sir & Sanjeev Sirs Nimble Education for ISC,CBSE,ICSE, IB, AS & A
Levels
Contact : 9033311500, 8866611600
(d) A building having a W.D.V. of Rs 40000 was sold for Rs 99000. The cost of purchase of the Building was
Rs 67000.
(e) Annual Repair charges paid for the year Rs 50000
(f) Advertisement Contract given to Virat Kohli Rs 800000 for a period of 4 years.

Ravi Sir & Sanjeev sirs Nimble Education for ISC,CBSE,ICSE, IB, AS & A
Levels
Contact : 9033311500, 8866611600