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FYJC Accounts Test

This document contains sample questions that would appear on a test for a Bookkeeping and Accountancy class. Question 1 lists 18 elements and asks to classify each as an Expense, Income, Gain, Asset, or Liability. Question 2 provides 12 business transactions and asks to journalize each by recording debits and credits. The test covers key accounting concepts like identifying different types of accounts, recording basic business transactions, and applying GST/taxes.

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311 views1 page

FYJC Accounts Test

This document contains sample questions that would appear on a test for a Bookkeeping and Accountancy class. Question 1 lists 18 elements and asks to classify each as an Expense, Income, Gain, Asset, or Liability. Question 2 provides 12 business transactions and asks to journalize each by recording debits and credits. The test covers key accounting concepts like identifying different types of accounts, recording basic business transactions, and applying GST/taxes.

Uploaded by

Faizan Sir's Tutorials
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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THE BEACON ACADEMY

FYJC Comm / Book – Keeping & Accountancy / Test / 07-10-2022 / 30 Marks

Q1) Classify the following whether the following elements are Expenses, Income, Gains, Assets and
Liabilities:

1) Land
2) Building
3) Cash
4) Printing and Stationery
5) Electricity Bill
6) Motor Car
7) Outstanding Bill
8) Stock
9) Rent received
10) Dividend received
11) Interest paid
12) Bank Loan
13) Loan from relatives
14) Commission received
15) Sundry Debtors
16) Sundry Creditors
17) Unpaid expenses
18) Plant & Machinery

Q2) Journalise the following transactions:

1) Started business with Cash Rs. 2,50,000, Furniture Rs. 1,50,000 and Goods Rs. 50,000.
2) Purchase goods worth Rs. 70,000.
3) Purchase Machinery worth Rs. 1,00,000 @ 18% GST and paid through cheque.
4) Sold Land & Building worth Rs. 15,00,000.
5) Purchase Motor Car worth Rs. 12,00,000 @ 28% GST and paid through cash.
6) Purchase goods worth Rs. 40,000 from Avesh with 5% T.D.
7) Paid electricity bill of Rs. 8,000.
8) Paid for stationery Rs. 10,000.
9) Received Commission of Rs. 19,000.
10) Sold machinery worth Rs. 2,00,000 @ 12% GST for cash.
11) Paid salary of Rs. 12,000.
12) Paid Rent of Rs. 6,000, Interest Rs. 9,000 for cash.

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