HSC Arts (English Medium) १२ वीं कक्षा - Maharashtra State Board Important Questions for Book Keeping and Accountancy

Give one word/phrase/term which can substitute the following statement:-

Officer appointed by government for noting of dishonour of bill.

Nisha’s acceptance for ₹ 16,850 sent to bank for collection was honoured and bank charges debited were ₹ 125. Find out the amount actually received by Drawer.

Nisha’s acceptance for ₹ 16,850 sent to bank for collection was honoured and bank charges debited were ₹ 125. Find out the amount actually received by Drawer.

Priyanka owed Meena ₹ 18,000, Priyanka accepted a bill drawn Meena for the amount at 4 months. Meena endorsed the same bill to Sagar. Before due date Priyanka approached Meena for renewal of bill. Meena agreed on condition that ₹ 6,000 be paid immediately together with interest on the remaining amount of 8 % p. a. for 3 months and Priyanka should accept a new bill for the balance amount. These arrangements were carried through. However, before the due date, Priyanka became insolvent and only 50 % of the amount could be recovered from her estate.

Give Journal Entries in the Books of Meena.

Priyanka owed Meena ₹ 18,000, Priyanka accepted a bill drawn Meena for the amount at 4 months. Meena endorsed the same bill to Sagar. Before due date Priyanka approached Meena for renewal of bill. Meena agreed on condition that ₹ 6,000 be paid immediately together with interest on the remaining amount of 8 % p. a. for 3 months and Priyanka should accept a new bill for the balance amount. These arrangements were carried through. However, before the due date, Priyanka became insolvent and only 50 % of the amount could be recovered from her estate.

Give Journal Entries in the Books of Meena.

Akshay drew a bill on Deepak for ₹ 25,000 on 23^rd December, 2019, for 3 months. Deepak accepted the same and returned it to Akshay. On the due date the bill was duly honoured by Deepak.

Give journal entries in the books of Akshay and Deepak under each of the following cases:

1. If Akshay retained the bill till maturity.
2. If Akshay discounted the bill with the bank at 6% p.a. on the same day.
3. If Akshay sent the bill to bank for collection on 23^rd December, 2019.
4. If Akshay endorsed the bill to his creditor Viren.

Akshay drew a bill on Deepak for ₹ 25,000 on 23^rd December, 2019, for 3 months. Deepak accepted the same and returned it to Akshay. On the due date the bill was duly honoured by Deepak.

Give journal entries in the books of Akshay and Deepak under each of the following cases:

1. If Akshay retained the bill till maturity.
2. If Akshay discounted the bill with the bank at 6% p.a. on the same day.
3. If Akshay sent the bill to bank for collection on 23^rd December, 2019.
4. If Akshay endorsed the bill to his creditor Viren.

Journalise the following transactions in the books of Apoorva.

1. Prashant’s acceptance for 60 days ₹ 12,750 deposited into bank for collection.
2. Apoorva sold goods to Kirti for ₹ 20,000 and received her acceptance for the same amount for 2 months. The bill was endorsed to Rekha.
3. Received 30% of the amount due from the private estate of Mukta who was declared insolvent. Mukta had dishonoured her acceptance of ₹ 23,850 and noting charges paid were ₹ 150.
4. Apoorva renews her acceptance of ₹ 36,000 to Anuradha by paying cheque of ₹ 6,000 and accepting a new bill for 2 months for balance along with interest @ 14.5% p. a.

Journalise the following transactions in the books of Apoorva.

1. Prashant’s acceptance for 60 days ₹ 12,750 deposited into bank for collection.
2. Apoorva sold goods to Kirti for ₹ 20,000 and received her acceptance for the same amount for 2 months. The bill was endorsed to Rekha.
3. Received 30% of the amount due from the private estate of Mukta who was declared insolvent. Mukta had dishonoured her acceptance of ₹ 23,850 and noting charges paid were ₹ 150.
4. Apoorva renews her acceptance of ₹ 36,000 to Anuradha by paying cheque of ₹ 6,000 and accepting a new bill for 2 months for balance along with interest @ 14.5% p. a.

Find the odd one:

Find the odd one:

The debentures which are convertible into shares.

Joshi - Patil Ltd. issued 2,000, 10% debentures of Rs. 100 each, payable Rs. 20 on application and the balance on allotment. Company received applications for 2,500 debentures, out of which applications for 2,000 were alloted fully and remaining applications were rejected and the money refunded.

Journalise the above transactions, assuming that all the sums were received.

Give the word / term or phrase which can substitute the following statement.

The debentures which are converted into shares.

Answer the following question in one sentence.

What are ‘convertible debentures’?

State whether you agree or disagree with following statement:

Directors can re-issue forfeited shares.

State whether you agree or disagree with following statement:

Directors can re-issue forfeited shares.

Vraj Ltd. issued 40,000 equity shares of ₹ 20 each payable as follows:

On Application: ₹ 4

On Allotment: ₹ 6

On First Call: ₹ 6

On Second Call: ₹ 4

The company received applications for 50,000 equity shares. Allotment of shares was made on pro-rata basis. Share allotment and calls were made and as also received except Ravi holding 100 shares failed to pay both the calls. His shares were forfeited after second call.

Record the above transactions in the books of Vraj Ltd.