IIBS INDEPENDENT PU COLLEGE

#1 & 2, OPP TO KHB Quarters Main Road, Bangaore-560032

II TERMINAL TEST
CLASS: I PU SUB:Accountancy MARKS:25
1 Answer the following questions: (5x1)=5
1. What is cash book?
2. What is contra entry?
3. What is petty cash book?
4. What is Imprest system?
5. What is three column cash book?
II. Answer the following. Write any one. (6x1)=6
6. Prepare analytical petty cash book and balance under imprest system:
2012
May 1 Received cheque for petty cash Rs. 500
May 5 Paid for postal stamps Rs. 50
May 8 Paid for cartage - Rs.30
May 12 Purchased office stationery Rs. 100
May 16 Paid for advertisement Rs. 60
May 20 Paid to Sunil Rs. 70
May 30 Paid for refreshment Rs. 90
7. Explain the features & advantages of cash book
III. Answer compulsory (1x14)=14
8. Prepare three column cash book
August 1 Ramesh started business with cash Rs. 8000
------- 2 Opened a bank account Rs. 3000
------- 5 Cash purchases Rs. 2000
------- 7 Paid salaries by cheque Rs. 1000
-------10 Cash sales RS. 5000
-------13 Received rent Rs. 1500
-------15 Purchased goods for cash Rs. 4000
-------17 Received from Anand Rs. 2000 & allowed discount Rs. 80
------20 Received cheque for sales Rs. 3000
------ 22 Deposited cheque into bank Rs. 3000
------ 24 Paid to Santosh Rs. 2500 & earned discount Rs.100
------ 27 Drew from bank for office use Rs. 1000
------30 Purchased furniture Rs. 1,500
IIBS INDEPENDENT PU COLLEGE
#1 & 2, OPP TO KHB Quarters Main Road, Bangaore-560032
TERMINAL TEST
CLASS: II PU SUB:Accountancy MARKS:25
I. Answer the following questions: (5X1)=5
1. What do you mean by share?
2. Define joint stock company
3. What is over subscription?
4. What is calls in arrears?
5. What is forfeiture of shares?
II. Answer the following any one: (6x1)=6
6. Ajay co ltd forfeited 700 shares at Rs. 10 each for non payment of I call Rs. 2 per share & final call Rs. 3
per share. These shares were reissued as fully paid @ Rs. 7 per share. Give journal entries.

Or
7. Explain the clauses of capital
III. Answer compulsory: (14x1)=14
8.Rising sun company ltd was registered with an authorized share capital of RS. 10,00,000 divided into 10,000
equity shares of Rs. 100 each. The company has issued all the shares at 25% premium payable as follows:
- Rs. 40 on application
-Rs. 55 on allotment (incl. premium)
- Rs. 30 on first & final call
All the shares were subscribed and money received except first & final call on 1000 shares. These shares were
forfeited. They were reissued at Rs. 80 per share all fully paid up.
Give journal entries & show the balance sheet of the company

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