1. What are the various kinds of Accounts? What are the Golden rules of these Accounts How would you classify the following Accounts:

Depreciation

Mohan partner of a firm

creditor)

Bank Loan

Bank.

2. Prepare Accounting equations from the following:

Started business with cash RS 1,00,000 and goods RS 40,000

Bought -goods for cash RS 30,000 and credit for RS 20,000

Paid salaries RS 5,000

Received rent from tenants RS 1,000

Withdrew cash for personal use RS 5,000

3. What do you understand by "Rectification of Errors" What are the different types of errors? Explain with the help of an example.

4. Journalise the following transactions:

Goods worth RS 25,OOO were distributed as free samples.

Goods worth RS 5,000 and cash RS 4,000 were stolen by an employee.

Provide interest on capital (RS 50,000) at for 6 months.

RS 1,000 due from Hari is a bad debt.

Paid rent by cheque of RS 10,000.

5. Prepare a three-column Cash Book:

July Cash Balance RS 10,000 Bank Balance RS 50,000

July Cash Received from sale of shares RS 1,00,000 July Paid Jyoti by cheque of RS 8,000 July -21 Drawn from Bank RS 5,000 July -30 Paid into Bank RS 6,000

6. Rectify the following errors

A credit sale of RS 527 to John was recorded as RS 725

Purchase Book was undercast by RS 1,000

X was paid cash RS 5,600 but Y was debited by RS 5,000

RS 120 owing by a customer had been omitted from the list of debtors.

Sales return was overcast by RS 5,000

7. How will you adjust the following into PSC

Bad Debt RS 3,000
Provision for Bad Debt RS 1,500
Sundry Debtors RS 22,700

Adjustment:

RS 700 in a further Bad Debt

Make 10% provision on Sundry Debtors