Vandana Commerce: November 2019

Tuesday, November 5, 2019

Vandana Commerce: CONTACT US

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Vandana Commerce: Trading on Equity Presentation

Vandana Commerce: Trading on Equity Presentation: https://drive.google.com/file/d/1VIW2YfMeih59tGSD_sSyTBiW7OrLkkwI/view?usp=sharing https://drive.google.com/file/d/1VIW2YfMeih59tGSD_sSyTBi...

Vandana Commerce: QUESTION PAPER ACCOUNTANCY MONTHLY TEST APRIL

Vandana Commerce: QUESTION PAPER ACCOUNTANCY MONTHLY TEST APRIL: ACCOUNTANCY MONTHLY TEST APRIL 2019 M.M. 40 ...

Vandana Commerce: KNOW YOUR SHARE MARKET

Vandana Commerce: KNOW YOUR SHARE MARKET: https://drive.google.com/file/d/0B-NI5gYZc9gFdmQ4bUhHTmJyQm8/view?usp=sharing

KNOW YOUR SHARE MARKET-Use URL to watch the Video

https://drive.google.com/file/d/0B-NI5gYZc9gFdmQ4bUhHTmJyQm8/view?usp=sharing

QUESTION PAPER ACCOUNTANCY MONTHLY TEST APRIL

ACCOUNTANCY

MONTHLY TEST APRIL 2019

M.M. 40 TIME-90 MIN

1. State with reasons whether the following statements are TRUE or FALSE: 5

(i) Receipt and Payment Account is a summary of all capital receipts and payments.

(ii) If there appears a sports fund, the expenses incurred on sports activities will be shown on the debit side of Income and Expenditure Account.

(iii) The balancing figure on credit side of Income and Expenditure Account denotes excess of expenses over incomes.

(iv) Scholarships granted to students out of funds provided by government will be debited to Income and Expenditure Account.

(v) Receipt and Payment Account records the receipts and payments of revenue nature only.

2. As per Receipt and Payment Account for the year ended on March 31, 2017, the subscriptions received were Rs. 2,50,000.

Additional Information given is as follows:

1. Subscriptions Outstanding on 1.4.2016 Rs. 50,000

2. Subscriptions Outstanding on 31.3.2017 Rs.35,000

3. Subscriptions Received in Advance as on 1.4.2016 Rs.25,000

4. Subscriptions Received in Advance as on 31.3.2017 Rs.30,000

Ascertain the amount of income from subscriptions for the year 2016–17 and show how relevant items of subscriptions appear in opening and closing balance sheets. 5

3. What amount of sports material will be posted to Income and Expenditure Account for the year ended March 31, 2016 as expenditure:

Amount (Rs.)

Stock of sports materials as on April 1, 2014 7,500

Creditors for sports material as on April 1, 2014 2,000

Stock of sports material as on March 31, 2016 6,200

Amount paid for sports material during the year 2015-16 17,000

Advance paid for sports material as on March 31, 2016 3,500

Creditors for sports material as on March 31, 2016 1,200 5

4. Following is the information given in respect of certain items of a Sports Club. Show these items in the Income and Expenditure Account and the Balance Sheet of the Club: 6

Rs.

Sports Fund as on 1.4.2015 35,000

Sports Fund Investments 35,000

Interest on Sports Fund 4,000

Donations for Sports Fund 15,000

Sports Prizes awarded 10,000

Expenses on Sports Events 4,000

General Fund 80,000

General Fund Investments 80,000

Interest on General Fund Investments 8,000

6.State any five features of Not for profit organisations. 5

7. Distinguish between Receipts and Payments Account and Income and Expenditure Account. (Any Six basis). 6

Trading on Equity Presentation

https://drive.google.com/file/d/1VIW2YfMeih59tGSD_sSyTBiW7OrLkkwI/view?usp=sharinghttps://drive.google.com/file/d/1VIW2YfMeih59tGSD_sSyTBiW7OrLkkwI/view?usp=sharing

Vandana Commerce