SILP TEST 1 - 2025
CLASS: XII TIME :1.00 Hrs
SUBJECT : ACCOUNTANCY DATE : MARK :30
I CHOOSE THE CORRECT ANSWER (3X1=3)
1) What is the amount of capital of the proprietor, if his assets are ` 1,00,000 and liabilities
are ` 20,000?
(a)` 80,000 (b) ` 1,06,000 (c) ` 21,000 (d) ` 64,000
2) When capital in the beginning is ` 10,000, drawings during the year is ` 6,000, profit made during the year
is ` 2,000 and the additional capital introduced is ` 3,000, find out the amount of capital at the end.
(a) ` 9,000 (b) ` 11,000 (c) ` 21,000 (d) ` 3,000
3) Opening balance of debtors: ` 1,30,000, cash received: ` 1,00,000, credit sales: ` 90,000; closing balance of
debtors is
(a)` 1,30,000 b) ` 1,90,000 c) ` 1,40,000 d) ` 1,20,000
4) which one is incorrect
(a) Opening capital + Additional capital + Profit/ – Loss – Drawings = Closing capital
(b) Profit/Loss = Closing capital + Drawings – Additional capital – Opening capital.
(c) Profit/Loss = Closing capital + Drawings + Additional capital – Opening Capital
(d) Total sales = Cash sales + Net credit sales
5) increase in capital is taken as ______
(a) profit. b) Loss c) gain. d) Expenses
II Answer the following questions ( Q.No: 9 is compulsory ) (3x2=6)
6) What is a statement of affairs?
7) From the following particulars, prepare bills receivable amount and compute the bills
received from the debtors.
Particulars `
Bills receivable at the beginning of the year 1,40,000
Bills receivable at the end of the year 2,00,000
Cash received for bills receivable 3,90,000
Bills receivable dishonoured 30,000
8) From the following details, calculate credit purchases.
Particulars ` Opening creditors 1,70,000
Purchase returns 20,000
Cash paid to creditors 4,50,000
Closing creditors 1,90,000
9) State the accounts generally maintained by Partnership firm when double entry
Accounting system is not followed?
III Answer the following questions ( Q.No: 13 is Compulsory ) (3x3=9)
10) What are the limitations of incomplete records?
11)
12) State the differences between double entry system and incomplete records.( any 3 )
13) From the following details, calculate the capital as on 31st December 2018, using capital account)
Capital as on 1st January, 2018 1,00,000
Goods withdrawn for personal use by the owner 30,000
Additional capital introduced during the year 15,000
Profit for the year 60,000
IV Answer the following 2 questions ( Q.No: 16 is Compulsory) (2x5=10)
14)
15)
16) Differentiate between statement of affairs and balance
sheet.
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