Aptitude Test -Accounts Executive

Banking, Financial & HR Services

_{ACCOUNT- AGE}

_{Infotech Pvt.Ltd}

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Training ★ Placement ★ Recruitment ★ Consulting

(Regd under Companies Act 1956, Ministry of Corporate Affairs. Govt Of India)

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Corporate office: U -87,First Floor,Shakarpur, Near Gurdwara,Laxmi Nagar Metro Station (Backside of Gate 2), Main Vikas Marg DELHI -110092,

PRE-RECRUITMENT APTITUDE TEST -2011

TEST PAPER : FINANCE & ACCOUNTS

Name of the Candidate ……… Total Marks 100 Marks Obtained Educational Qualification Q- 1/20 Professional Qualification Q- 2/20 Address for Correspondence Q- 3/20 Phone Number Mobile No Q- 4/20 Phone Number Mobile No. Q- 5/20 Freshers/ Experience TOTAL

FOR OFFICE USE

Applicant /Selected / Rejected .

REMARKS

_{ACCOUNT- AGE}

_{Infotech Pvt.Ltd}

ISO 9001:2008 Certified Company

Training ★ Placement ★ Recruitment ★ Consulting

TEST PAPER : FINANCE & ACCOUNTS

Duration: 2 Hrs

Total Marks : 100

1-Attempt all 5 questions. Question Sr no 1 - 3 (Theoretical ) 2- Question No 4 & 5 is compulsory in Tally ERP- 9 (Practical)

3- Do write the Answers in the blank space given in each question (Sr 1-3 only)

Question 1: Pass the necessary journal Entries of the following transactions

Marks: 20

F… Dr………Group………. Cr………Group……….

-Deposited into S.B.I A/c 800 F… Dr………Group……….

Cr………Group……….

FDR issued by the Bank against SBI Ch:237987 500 F… F… Dr………Group………. Cr………Group………. Dr………Group………. Cr………Group……….

-Received Cash from Ashok kumar Against Bill No:98 -Discount allowed to A 790 10 F… Dr………Group………. Cr………Group……….

-Purchased Furniture for cash from M/s Bharat Furniture Bill -9860 750 F… F… Dr………Group………. Cr………Group………. Dr………Group………. Cr………Group………. -Paid to B by SBI Ch:297003 -Received discount 745 5 F… Dr………Group……… Cr………Group………..

-Received from C by Draft and deposited into SBI a/c

500 F… F… Dr………Group………. Cr………Group………. Dr………Group………. Cr………Group……….

-Credit Sales to M/s Harish & Co. against bill no 12 -Cash Deposited into Car Loan a/c

785 1,900

F… Dr………Group………. Cr………Group……….

-Purchased a Maruti Car from Maruti Udhyog by SBI cheque No:297004 6,140 F… Dr………Group………. Cr………Group………. -Paid SBI Ch: 297005 to D against Bill no 675 647

F… F… Dr………Group………. Cr………Group………. Dr………Group………. Cr………Group………. Discount Received

Withdraw Cash From the PNB A/C for Personal Use

10 375

F… Dr………Group………. Cr………Group……….

Withdrew from SBI-CA298 for office use against Ch no:297006

250

F… Dr………Group………. Cr………Group……….

Purchased Laptop for Credit from M/s Dabar & co

350

F… Dr………Group………. Cr………Group……….

Paid Salary to Mr Harish through SBI CA-298

450 F… Dr………Group………. Cr………Group………. Dr………Group………. Discounted a Cheque of Mr Dinesh Kumar @ Rs 10/- per thousand and Deposited into PNB A/c

4000

F… Dr………Group………. Cr………Group………. Dr………Group………. Cr………Group……….

Received from Amar Singh a Cheque of Rs 1250/-deposited in PNB,

But next day return by the PNB due to the reason “Refer to Drawer”

50

F… Dr………Group………. Cr………Group……….

Received a PNB Cheque from Sohan Lal & Endosed in favour of Mohan Lal

2000

F… Dr………Group………. Cr………Group……….

Paid a cheque to Ram Saran for cash purchase of

Furniture for office use.

1575

Question : 2

Please Tick Mark the Correct answer ( True /False)

- Return Inward a/c –Dr To Purchase a/c

True /False - Party a/c –Dr To Purchase a/c

True /False

-Party a/c –Dr

To Return Outward a/c

True /False - Bank a/c –Dr To Sales a/c

True /False

- Party a/c –Dr To Bank a/c

True /False - Cash a/c –Dr To Dividand a/c

True /False

-Purchase a/c-Dr To Return Outward To Supplier a/c

True /False -Mahesh a/c-Dr To Credit Sales To Return Inward True /False -Mahesh a/c-Dr To Credit Sales To Return Inward

True /False -SBI A/c –Dr -Bank Charges-Dr To Mahesh True /False -Dinesh A/c –Dr -Bank Charges-Dr To PNB

True /False -SBI A/c –Dr - To FDR -To Interest a/c

True /False

-Drawing a/c-Dr To SBI A/C

True /False - PNB A/c –Dr - To Car -To Interest a/c

-Car Loan a/c To Cash Credit A/c

True /False -Fixed Deposit –Dr To Car Loan a/c

True /False

Fixed Assets –Dr To Depreciation a/c

True /False -Car Loan –Dr To FDR a/c

True /False

Divicend Recd a/c –Dr To Bank a/c

True /False FDR A/C –Cr To Interest To PNB A/C

True /False

Loss of Assets –Dr To Capital a/c

True /False Loss of Cash due to Theft a/c –Dr To Bank a/c

True /False

Sales of Assets –Dr To PNB A/c

True /False Purchase a/c –Dr To Vat out put a/c To Mahesh a/c

True /False

Car a/c-Dr

To Depreciation a/c To Cash

True /False Purchase A/c-Dr To Return Inward

True /False

Life Insurance Policy a/c-Dr To PNB A/c

True /False Manish a/c –Dr To Purchase a/c

True /False

Life Insurance Policy a/c-Dr To PNB A/c

True /False Manish a/c –Dr To Purchase a/c

True /False

Prepaid a/c –Dr To Rent A/c

True /False Cash Credit –Dr To Saving a/c

True /False

Saving Bank A/C-Dr To Current a/c

True /False Rent A/c –Dr To outstanding Rent A/c

True /False

Saving Bank A/C-Dr To CASH a/c

True /False Rent A/c –Dr To Fixed Deposit

True /False

Cash A/C-Dr To Salary a/c

True /False Fixed Deposit –Dr Cash Credit a/c

True /False

Pre-Paid Salary a/c-Dr To Salary A/C

True /False Rent a/c –Dr To Pre-paid A/c

True /False

Question : 3 Fill in the blanks

Part –A

1-Out Standing Wages appears in the ……… 2-Patent & Trade Marks are ……….. 3-Pre-Paid Salary comes in the ……….. 4-Return Inwards debited to ……… 5-Return outward debited to ……… 6-Fixed Deposit Receipts a/c comes under the head ……….. 7-Interest on FDR comes in the ……… 8-Interest on Over Draft comes in the ……… 9-Cash in Hand is………. 10-Bank Over draft is………..

Part –B

Write down the 10 Adjustment Entries for the following

1-Discount paid to Debtors a/c

Dr ………Cr………..

2-Discount Received from Creditors a/c

Dr ………Cr………..

3-Pre-Paid Expenses a/c

Dr ………Cr………..

4-Out standing Expenses a/c

Dr ………Cr………..

5-Interest received on Saving Bank a/c

Dr ………Cr………

6-Interest Received on FDR A/C + Interest on FDR

Dr ………Cr………Cr………..

7-Interest on Additional Capital a/c

Dr ………Cr………..

8-Interest on Bank OD a/c

Dr ………Cr………..

9-Depreciation on Furniture a/c

Dr ………Cr………..

10-Loss of cash of Mr Sahni (Accountant) in the office due to Theft

Question : 4

PRACTICAL (1)

Calculate the VAT –Value Added Tax

(

Through TALLY ERP 9)

Name of item Under Rate per litre Opening balance of

Refined Ghee - 4% 5 Kg @50/-

Mustard oil 12.5% 5 Kg @80/-

PURCHASE FROM ABC & CO

Refined Ghee - 4% 10 KG @50/-

Mustard oil 12.5% 10 KG @80/-

SALE TO KBC & CO

Refined Ghee - 4% 12 KG @55/-

Mustard oil 12.5% 14 KG @85/-

AT DISCOUNT OF 2 % ( ANSWER VAT PAYABLE : Rs 51.65)

PRACTICAL (2)

Calculate the TDS -Tax Deducted at Source

(

Through TALLY ERP 9)

Marks: 5

Gupta Associates a Chartered Accountant Firm took a Audit Work in the Financial Year 2010-11 of an Manufacturing company named M/S Birla Cement Ltd –Delhi As per details as below

Professional Service Charges Rs 25,000/- (Pan card holder)

I.Tax @ 10% 2,500/- Surcharge @ 0% Nil/- Edu.cess @ 0% Nil/- Sec Higher Edu Cess @ 0% Nil/-

---Net TDS 2500/-

PRACTICAL (3)

Calculate the Service Tax

(

Through TALLY ERP 9)

Marks: 5

M/s Johra Tour & Travels Delhi, raised an Invoice No 6754 of Rs 20,000/-as

Ticketing charges from Delhi to Pune from Mr Gagandeep singh Ranotra

as service charges as per chart below as Rs 2060/- ( Total Rs 22060/-) for

his ticket booking from Delhi to Pune.

Tour & Travel Services charges : 20,000/-

Service Tax @ 10%

2000/-

Edu.Cess @2%

40/-

Higher Edu. Cess @1%

20/-

Total amount : 22060/-

Question : 5

Marks: 20

From the following balances, and the under mentioned particulars you are required to make out a Trading and Profit and Loss Account for the year ended 31st March, 2011 and a Balance Sheet as on date.

Rs. Rs.

Trade Creditors 35,780 Discount Received 5,800 Bills Payable 18,700 Bills Receivable 5,360 Law Charges 420 Purchases 1,17,200 General Expenses 7,580 Stock (1.4.2010) 63,900 PNB Saving Bank-a/c 18,980 Trade Debtors 63,220

Capital Account

A-Ramesh Kumar

B-Mahesh Kumar

Lease hold premises 40,000 Returns Inwards 28,600 Housing Loan a/c 40,000 Salaries 15,700 Returns Outwards 16,200 Sales 1,98,400 Interest on Saving

Bank a/c

2,200 FDR 2,600

Cash in hand 400 Rent 11,200 Discount allowed 8,600 Plant and Machinery 59,000 Wages

(Manufacturing)

39,940 Lap Top 30,000

Bank Over Draft 30,000 Commission Received

1500

Travelling allowance 500 Printing & Stationery 1000

Mr Sahil Loan (Dr ) 2000 Security received (against Rented house)

2000

Carriage on Sales 500 Rent Received 500 Scooter Expenses 2600 Car Loan a/c 2600

adjustment Entries as on 31-3-2011

1-Bad Debts estimated at Rs. 2,910; & Discount on debtors @ 3% 2-Discount on creditors 2%;

3-Interest on Housing loan Rs. 1,600; 4-depreciation on plant and machinery 10%;

5-Allow interest on Capital of Mr Ramesh Kumar @ 5% P.A. 6-Rs. 150 is due for wages , Paid Rent in Advance Rs 50/- 7- Interest Rs. 210 is to be received on Fixed deposits(FD) 8- Interest on Bank Overdraft Rs. 300 is to be paid.

9-Commission Received in advance Rs 100

10-Salary of Rs. 2,000 paid to Mr. Sahil, wrongly debited to his personal a/c

11-

Scooter is used for business as well as for private purposes equally

12-

Stock in hand at 31

March, 2011 was Rs. 93,840