Banking, Financial & HR Services

ACCOUNT- AGE Infotech Pvt.Ltd

ISO 9001:2008 Certified Company
Training Placement Recruitment Consulting
(Regd under Companies Act 1956, Ministry of Corporate Affairs. Govt Of India)

Rashtriya Udhyog Rattan Award Winner

Corporate office: U -87,First Floor,Shakarpur, Near Gurdwara,Laxmi Nagar Metro Station
(Backside of Gate 2), Main Vikas Marg DELHI -110092,

PRE-RECRUITMENT APTITUDE TEST -2011

TEST PAPER : FINANCE & ACCOUNTS
Name of the
Candidate

Educational
Qualification
Professional
Qualification
Address for
Correspondence

Total
Marks
100
Q- 1/20
Q- 2/20
Q- 3/20

Phone Number
Mobile No
Phone Number
Mobile No.
Freshers/
Experience

Q- 4/20
Q- 5/20
TOTAL
FOR OFFICE USE

Applicant /Selected / Rejected .

REMARKS

DATED ..

SIGNATURE OF CANDIDATE

Marks
Obtained

ACCOUNT- AGE Infotech Pvt.Ltd

ISO 9001:2008 Certified Company
Training Placement Recruitment Consulting
TEST PAPER : FINANCE & ACCOUNTS
Duration: 2 Hrs
Total Marks : 100
1-Attempt all 5 questions. Question Sr no 1 - 3 (Theoretical )
2- Question No 4 & 5 is compulsory in Tally ERP- 9 (Practical)
3- Do write the Answers in the blank space given in each question (Sr 1-3 only)

Question 1: Pass the necessary journal Entries of the following transactions

Marks: 20
F

DrGroup.
CrGroup.

-Deposited into S.B.I A/c

800

DrGroup.
CrGroup.

FDR issued by the Bank

against SBI Ch:237987

500

DrGroup.
CrGroup.

-Received Cash from

Ashok kumar Against Bill
No:98

790

F
F

F
F

DrGroup.
CrGroup.
DrGroup.
CrGroup.
DrGroup.
CrGroup.

-Discount allowed to A
-Purchased Furniture for
cash from M/s Bharat
Furniture Bill -9860
-Paid to B by
SBI Ch:297003

10

750

745
5

DrGroup.
CrGroup.
DrGroup
CrGroup..

-Received discount
-Received from C by Draft
and deposited into SBI a/c

500

DrGroup.
CrGroup.

-Credit Sales to M/s Harish

& Co. against bill no 12

785

DrGroup.
CrGroup.

-Cash Deposited into Car

Loan a/c

DrGroup.
CrGroup.

-Purchased a Maruti Car

from Maruti Udhyog by SBI
cheque No:297004

DrGroup.
CrGroup.

-Paid SBI Ch: 297005

to D against Bill no 675

F
F

1,900

6,140

647

DrGroup.
CrGroup.

Discount Received

DrGroup.
CrGroup.

Withdraw Cash From the

PNB A/C for Personal Use

DrGroup.
CrGroup.

Withdrew from SBI-CA298

for office use against Ch
no:297006

250

DrGroup.
CrGroup.

Purchased Laptop for

Credit from M/s Dabar & co

350

DrGroup.
CrGroup.

Paid Salary to Mr Harish

through SBI CA-298

450

DrGroup.
CrGroup.
DrGroup.

DrGroup.
CrGroup.

Discounted a Cheque of Mr
Dinesh Kumar @ Rs 10/per thousand and
Deposited into PNB A/c
Received from Amar Singh
a Cheque of Rs 1250/deposited in PNB,
But next day return by the
PNB due to the reason
Refer to Drawer
Received a PNB Cheque
from Sohan Lal & Endosed
in favour of Mohan Lal
Paid a cheque to Ram Saran
for cash purchase of
Furniture for office use.

DrGroup.
CrGroup.
F

DrGroup.
CrGroup.

DrGroup.
CrGroup.

10

Question : 2
Please Tick Mark the Correct answer ( True /False)
- Return Inward a/c Dr

True /False

To Purchase a/c
-Party a/c Dr

True /False

- Bank a/c Dr

True /False

To Sales a/c
True /False

To Bank a/c
-Purchase a/c-Dr
To Return Outward
To Supplier a/c
-Mahesh a/c-Dr
To Credit Sales
To Return Inward
-Dinesh A/c Dr
-Bank Charges-Dr
To PNB
-Drawing a/c-Dr
To SBI A/C

True /False

To Purchase a/c

To Return Outward a/c

- Party a/c Dr

- Party a/c Dr

Marks: 20

- Cash a/c Dr

True /False

To Dividand a/c
True /False
True /False
True /False
True /False

-Mahesh a/c-Dr
To Credit Sales
To Return Inward
-SBI A/c Dr
-Bank Charges-Dr
To Mahesh
-SBI A/c Dr
- To FDR
-To Interest a/c
- PNB A/c Dr
- To Car
-To Interest a/c

True /False
True /False
True /False
True /False

375

4000

50

2000

1575

-Car Loan a/c

To Cash Credit A/c

True /False

-Fixed Deposit Dr
To Car Loan a/c

True /False

Fixed Assets Dr
To Depreciation a/c

True /False

-Car Loan Dr
To FDR a/c

True /False

Divicend Recd a/c Dr

To Bank a/c

True /False

FDR A/C Cr
To Interest
To PNB A/C

True /False

Loss of Assets Dr
To Capital a/c

True /False

True /False

Sales of Assets Dr
To PNB A/c

True /False

Loss of Cash due

to Theft a/c Dr
To Bank a/c
Purchase a/c Dr
To Vat out put a/c
To Mahesh a/c

Car a/c-Dr
To Depreciation a/c
To Cash
Life Insurance Policy a/c-Dr
To PNB A/c

True /False

Purchase A/c-Dr
To Return Inward

True /False

True /False

Manish a/c Dr
To Purchase a/c

True /False

Life Insurance Policy a/c-Dr

To PNB A/c

True /False

Manish a/c Dr
To Purchase a/c

True /False

Prepaid a/c Dr
To Rent A/c

True /False

Cash Credit Dr
To Saving a/c

True /False

Saving Bank A/C-Dr

To Current a/c

True /False

True /False

Saving Bank A/C-Dr

To CASH a/c

True /False

Rent A/c Dr
To outstanding
Rent A/c
Rent A/c Dr
To Fixed Deposit

Cash A/C-Dr
To Salary a/c

True /False

Fixed Deposit Dr
Cash Credit a/c

True /False

Pre-Paid Salary a/c-Dr

To Salary A/C

True /False

Rent a/c Dr
To Pre-paid A/c

True /False

Question : 3 Fill in the blanks

True /False

True /False

Marks: 10

Part A
1-Out Standing Wages appears in the
2-Patent & Trade Marks are ..
3-Pre-Paid Salary comes in the ..
4-Return Inwards debited to
5-Return outward debited to
6-Fixed Deposit Receipts a/c comes under the head ..
7-Interest on FDR comes in the
8-Interest on Over Draft comes in the
9-Cash in Hand is.
10-Bank Over draft is..

Part B
Write down the 10 Adjustment Entries for the following

Marks: 10

1-Discount paid to Debtors a/c

Dr Cr..

2-Discount Received from Creditors a/c

Dr Cr..

3-Pre-Paid Expenses a/c

Dr Cr..

4-Out standing Expenses a/c

Dr Cr..

5-Interest received on Saving Bank a/c

Dr Cr

6-Interest Received on FDR A/C + Interest on FDR

Dr CrCr..
7-Interest on Additional Capital a/c
Dr Cr..
8-Interest on Bank OD a/c
Dr Cr..
9-Depreciation on Furniture a/c
Dr Cr..
10-Loss of cash of Mr Sahni (Accountant) in the office due to Theft
Dr Cr..

Question : 4

Marks: 10

PRACTICAL (1)
Calculate the VAT Value Added Tax
(Through TALLY ERP 9)
Name of item

Under

Rate per litre

Refined Ghee - 4%

5 Kg

@50/-

Mustard oil 12.5%

5 Kg

@80/-

Refined Ghee - 4%

10 KG

@50/-

Mustard oil 12.5%

10 KG

@80/-

Refined Ghee - 4%

12 KG

@55/-

Mustard oil 12.5%

14 KG

@85/-

Opening balance of

PURCHASE FROM ABC & CO

SALE TO KBC & CO

AT DISCOUNT OF 2 %

( ANSWER VAT PAYABLE : Rs 51.65)

PRACTICAL (2)
Calculate the TDS -Tax Deducted at Source
(Through TALLY ERP 9)
Marks: 5
Gupta Associates a Chartered Accountant Firm took a Audit Work in the Financial
Year 2010-11 of an Manufacturing company named M/S Birla Cement Ltd Delhi
As per details as below
Professional Service Charges
I.Tax
Surcharge
Edu.cess
Sec Higher Edu Cess

Rs 25,000/- (Pan card holder)

@ 10%
@ 0%
@ 0%
@ 0%

2,500/Nil/Nil/Nil/-

-------------------------Net TDS
2500/-

PRACTICAL (3)
Calculate the Service Tax
(Through TALLY ERP 9)
Marks: 5

M/s Johra Tour & Travels Delhi, raised an Invoice No 6754 of Rs 20,000/-as
Ticketing charges from Delhi to Pune from Mr Gagandeep singh Ranotra
as service charges as per chart below as Rs 2060/- ( Total Rs 22060/-) for
his ticket booking from Delhi to Pune.
Tour & Travel Services charges : 20,000/Service Tax @ 10%
Edu.Cess

2000/-

@2%

40/-

Higher Edu. Cess @1%

Total amount

20/22060/-

Question : 5
Marks: 20
From the following balances, and the under mentioned particulars you are required to
make out a Trading and Profit and Loss Account for the year ended 31st March, 2011
and a Balance Sheet as on date.
Rs.

Rs.

Trade Creditors

35,780

Discount Received

5,800

Bills Payable

18,700

Bills Receivable

5,360

Law Charges

420

General Expenses
PNB Saving Bank-a/c

7,580
18,980

Capital Account
A-Ramesh Kumar

Purchases
Stock (1.4.2010)

63,900

Trade Debtors

63,220

Carriage Inwards
1,00,000

1,17,200

3,580

B-Mahesh Kumar

69,200

Lease hold premises

40,000

Returns Inwards

28,600

Housing Loan a/c

40,000

Salaries

15,700

Returns Outwards

16,200

Sales

2,200

FDR

2,600

400

Rent

11,200

Plant and Machinery

59,000

39,940

Lap Top

30,000

30,000

Commission

Interest

on

Saving

1,98,400

Bank a/c
Cash in hand
Discount allowed
Wages

8,600

(Manufacturing)
Bank Over Draft

1500

Received
Travelling allowance

Mr Sahil Loan (Dr )

500
2000

Printing & Stationery

1000

Security received

2000

(against Rented
house)
Carriage on Sales

500

Scooter Expenses

2600

Rent Received
Car Loan a/c

500
2600

The following additional information is available,Kindly made the following

adjustment Entries as on 31-3-2011
1-Bad Debts estimated at Rs. 2,910; & Discount on debtors @ 3%
2-Discount on creditors 2%;
3-Interest on Housing loan Rs. 1,600;
4-depreciation on plant and machinery 10%;
5-Allow interest on Capital of Mr Ramesh Kumar @ 5% P.A.
6-Rs. 150 is due for wages , Paid Rent in Advance Rs 50/7- Interest Rs. 210 is to be received on Fixed deposits(FD)
8- Interest on Bank Overdraft Rs. 300 is to be paid.
9-Commission Received in advance Rs 100
10-Salary of Rs. 2,000 paid to Mr. Sahil, wrongly debited to his personal a/c
11- Scooter is used for business as well as for private purposes equally
st
12-Stock in hand at 31 March, 2011 was Rs. 93,840
.............................................................................................................................