TEST PAPER

Question:-

1. Mention three Golden Rules of Accountancy.
2. Following expenses are paid during the month of December 2004 by Tendulkar Ltd.

i. Telephone 6,000 (for the period of 15/12/2004 to 15/01/2005)
ii. Salaries 2,75,000 (for December)
iii. Stationery 4,750 (for December)
iv. Insurance 6,000 (for the period Oct 04 to Sept 05)

Pass the necessary Entries in the Books of Tendulkar Ltd for the month of December 2004 with narration using the Account Heads given below for there monthly accounts of Dec 2004.

How would you treat the following expenses in the Books of Tendulkar Ltd. In Dec 2004 for there monthly accounts of Dec 2004?

I. Company receives rental invoice every month for Rs. 10,000 p.m. But the Company has not received the invoice for the month of December 2004.

II. Company also receives a travel invoice every month for Rs. 2,500 p.m. But the Company has not received the bills for 3 month since October 04.

3. Pass the entry for Depreciation in the books of Tendulkar Ltd.in Dec 2004, for there monthly accounts of Dec 2004

Fixed Assed w.d.v as at 30th Nov 2004 10,00,000
Depreciation Rate 15%

4. Prepare Bank Reconciliation Statement from the data provided in the Books of Tendulkar Ltd.

• Use the following Accounting Heads to pass the above entries
Telephone
Salaries
Stationery
Insurance
Rent
Travel
Bank
Accrued Expenses (Provision)
Prepayments
Fixed Asset
Depreciation

Bank Book in the Books of Tendulkar's Ltd.

Debit Credit Balance
Opening Balance 1, 46,400.00

07-Dec-04 Nair & Co. 25,000.00 1, 21,900.00
15-Dec-04 ABC 3,500.00 1, 24,900.00
17-Dec-04 Jay Laxmi Stationery 4,500.00 1, 20,400.00
29-Dec-04 MTNL 3,675.00 1, 16,725.00
31-Dec-04 BSES 4,275.00 1, 12,450.00
31-Dec-04 XYZ 6,700.00 1, 19,150.00

Closing Balance 1, 19,150.00
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Citibank Statement from 1st December 04 to 31st December 04.


Withdrawal Deposit Balance
Opening Balance 1, 50,000.00

02-Dec-04 Salary 3,600.00 1, 46,400.00
10-Dec-04 Nair & Co. 25,000.00 1, 21,400.00
17-Dec-04 ABC 3,500.00 1, 24,900.00
21-Dec-04 Jay Laxmi Stationery 4,500.00 1, 20,400.00


Closing Balance as per Bank Book of Company 1, 20,400.00
===========

TEST PAPER

Question:-

2. Following expenses are paid during the month of December 2004 by Tendulkar Ltd.

i. Telephone 6,000 (for the period of 15/12/2004 to 15/01/2005)
ii. Salaries 2,75,000 (for December)
iii. Stationery 4,750 (for December)
iv. Insurance 6,000 (for the period Oct 04 to Sept 05)

Pass the necessary Entries in the Books of Tendulkar Ltd for the month of December 2004 with narration using the Account Heads given below for there monthly accounts of Dec 2004.

How would you treat the following expenses in the Books of Tendulkar Ltd. In Dec 2004 for there monthly accounts of Dec 2004?

I. Company receives rental invoice every month for Rs. 10,000 p.m. But the Company has not received the invoice for the month of December 2004.

II. Company also receives a travel invoice every month for Rs. 2,500 p.m. But the Company has not received the bills for 3 month since October 04.

3. Pass the entry for Depreciation in the books of Tendulkar Ltd.in Dec 2004, for there monthly accounts of Dec 2004

Fixed Assed w.d.v as at 30th Nov 2004 10,00,000
Depreciation Rate 15%

Cost of equipment * 15% * Number of months of depreciation / 12 months

2. This is a duplicate post and the journal entries have been given in the other post.

I. Debit Rent Expense
Credit Rent Payable or Accounts Payable

II. Debit Travel Expense or appropriate expense account
Credit Accounts Payable.

This is a duplicate post.

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