Telangana Inter 1st year Commerce Model Paper 1
Jr. Inter Commerce Model Paper
Time: 3 hrs. Max.Marks:100
Section - A
Answer any Two of the following questions in not exceeding 40 lines each. 2×10 = 20
1. What is meant by partnership? Explain merits and demerits.
2. What is Prospectus? State the contents of Prospectus?
3. What do you understand by a "Co-operative Society"? State its characteristics.
Section - B
Answer any Four of the following questions in not exceeding 20 lines each. 4×5 = 20
4. Define Trade. Explain different types of Trade.
5. Explain the advantages & disadvantages of Joint Hindu Family.
6. Explain the advantages of Multinational Corporations.
7. Discuss the Merits of Public Sector undertakings.
8. Define Business Finance. Explain the need of Business Finance.
9. What are the different types of Business Finance?
Section - C
Answer any Five of the following questions not exceeding 5 lines each. 5×2 = 10
10. Genetic industry
11. Minor Partner
12. Mithakshara law
13. Holding companies
14. Registered Companies
15. Define Public Sector
16. Retained Profits
Part - II (50 marks)
Section - D
Answer the following question. 1×20 = 20
18. From the following Trial Balance of Mr. Balu, prepare Trading Profit and Loss account and
Balance Sheet for the year ending 31.12.2010.
Adjustments
1. Closing Stock 44,000/-
2. Outstanding Wages 8,000.
3. Prepaid Insurance 200.
4. Provide Bad debts reserve at 5%
5. Depreciation on Machinery and Furniture is 5%.
Debit Balances
Salaries
Purchases
Trade expenses
Wages
Carriage
Office expenses
Commission
Bad Debts
Debtors
Furniture
Machinery
Insurance
Bills Receivable
Opening Stock
Cash in Hand
Cash at Bank
Amount
24,000
1,04,000
4,000
31,200
1,600
2,000
2,400
4,800
1,20,000
12,000
40,000
1,600
8,000
28,000
2,000
14,400
Section - E
Answer any one of the following questions. 1×10 = 10
19. Prepare Three Column cash book from the following
20. Bank balance as per Cash Book ’.17,100 as on 31-12-2009. On comparing the cash book
with the pass book the following discrepancies were noted. Prepare a Bank Reconciliation
Statement showing balance as per pass book.
i) Cheques deposited in Bank but not credited 4,500.
ii) Bank charges Rs. 100 debited in pass book only.
1. Cash in Hand
Cash at Bank
5. Sales
6. Issued a cheque to Anjali
Discount
8. Received cash from Jagan
Received cheque from Jagan
Discount
(The cheque deposited with Bank)
10. Cash withdrawn for office use
15. Paid salaries by cheque
18. Purchases
20. Cash deposited in Bank
iii) Cheques issued but not yet presented for payment Rs. 3,500.
iv) Interest credited by the Bank in pass book only 1,500.
v) Directly deposited by a customer in the Bank ’. 4,000.
Answer any Two of the following questions.
21. Explain the various types of accounts with principles.
22. From the following particulars, prepare Kiran's account.
Section - F
2009 Jan.
1. Amount due to Kiran
10. Goods purchased from Kiran
16. Goods returned to Kiran
18. Cash paid to Kiran
20. Goods purchased from Kiran
25. Amount payable to Kiran settled with cheque
23. Record the following transactions in proper Subsidiary books.
2011 June
1. Purchased goods from Madhuri
5. Sold goods to Swathi
9. Purchased goods from Vikas
18.Sold goods to Vani
22.Purchased goods from Usha
28.Sold goods to Harika
Rs. ’
4,000
3,000
5,000
6,000
8,000
2,000
24. Rectify the following errors.
i) Total of sales book overcost by 200
ii) Machinery purchased 2,500 was posted on the debit side of purchase account.
iii) Sold goods to Lal debited to cash account 300.
iv) Purchase returns 300 to Shyam wrongly entered in sales book.
v) Rent paid to landlord wrongly debited to his personal account ’. 1000.
Section - G
Answer any Five of the following Questions.
25. What is Capital?
26. Define Accounting?
27. Compensating Errors.
29. Business Entity Concept.
30. Journalise the following transactions.
Jr. Inter Commerce Model Paper
Time: 3 hrs. Max.Marks:100
Section - A
Answer any Two of the following questions in not exceeding 40 lines each. 2×10 = 20
1. What is meant by partnership? Explain merits and demerits.
2. What is Prospectus? State the contents of Prospectus?
3. What do you understand by a "Co-operative Society"? State its characteristics.
Section - B
Answer any Four of the following questions in not exceeding 20 lines each. 4×5 = 20
4. Define Trade. Explain different types of Trade.
5. Explain the advantages & disadvantages of Joint Hindu Family.
6. Explain the advantages of Multinational Corporations.
7. Discuss the Merits of Public Sector undertakings.
8. Define Business Finance. Explain the need of Business Finance.
9. What are the different types of Business Finance?
Section - C
Answer any Five of the following questions not exceeding 5 lines each. 5×2 = 10
10. Genetic industry
11. Minor Partner
12. Mithakshara law
13. Holding companies
14. Registered Companies
15. Define Public Sector
16. Retained Profits
Part - II (50 marks)
Section - D
Answer the following question. 1×20 = 20
18. From the following Trial Balance of Mr. Balu, prepare Trading Profit and Loss account and
Balance Sheet for the year ending 31.12.2010.
Adjustments
1. Closing Stock 44,000/-
2. Outstanding Wages 8,000.
3. Prepaid Insurance 200.
4. Provide Bad debts reserve at 5%
5. Depreciation on Machinery and Furniture is 5%.
Debit Balances
Salaries
Purchases
Trade expenses
Wages
Carriage
Office expenses
Commission
Bad Debts
Debtors
Furniture
Machinery
Insurance
Bills Receivable
Opening Stock
Cash in Hand
Cash at Bank
Amount
24,000
1,04,000
4,000
31,200
1,600
2,000
2,400
4,800
1,20,000
12,000
40,000
1,600
8,000
28,000
2,000
14,400
Section - E
Answer any one of the following questions. 1×10 = 10
19. Prepare Three Column cash book from the following
20. Bank balance as per Cash Book ’.17,100 as on 31-12-2009. On comparing the cash book
with the pass book the following discrepancies were noted. Prepare a Bank Reconciliation
Statement showing balance as per pass book.
i) Cheques deposited in Bank but not credited 4,500.
ii) Bank charges Rs. 100 debited in pass book only.
1. Cash in Hand
Cash at Bank
5. Sales
6. Issued a cheque to Anjali
Discount
8. Received cash from Jagan
Received cheque from Jagan
Discount
(The cheque deposited with Bank)
10. Cash withdrawn for office use
15. Paid salaries by cheque
18. Purchases
20. Cash deposited in Bank
iii) Cheques issued but not yet presented for payment Rs. 3,500.
iv) Interest credited by the Bank in pass book only 1,500.
v) Directly deposited by a customer in the Bank ’. 4,000.
Answer any Two of the following questions.
21. Explain the various types of accounts with principles.
22. From the following particulars, prepare Kiran's account.
Section - F
2009 Jan.
1. Amount due to Kiran
10. Goods purchased from Kiran
16. Goods returned to Kiran
18. Cash paid to Kiran
20. Goods purchased from Kiran
25. Amount payable to Kiran settled with cheque
23. Record the following transactions in proper Subsidiary books.
2011 June
1. Purchased goods from Madhuri
5. Sold goods to Swathi
9. Purchased goods from Vikas
18.Sold goods to Vani
22.Purchased goods from Usha
28.Sold goods to Harika
Rs. ’
4,000
3,000
5,000
6,000
8,000
2,000
24. Rectify the following errors.
i) Total of sales book overcost by 200
ii) Machinery purchased 2,500 was posted on the debit side of purchase account.
iii) Sold goods to Lal debited to cash account 300.
iv) Purchase returns 300 to Shyam wrongly entered in sales book.
v) Rent paid to landlord wrongly debited to his personal account ’. 1000.
Section - G
Answer any Five of the following Questions.
25. What is Capital?
26. Define Accounting?
27. Compensating Errors.
29. Business Entity Concept.
30. Journalise the following transactions.
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