Aptitude Test -Accounts Executive

Banking, Financial & HR Services ACCOUNT- AGE Infotech Pvt.Ltd ISO 9001:2008 Certified Company Training ★ Placement ★ Recruitment ★ Consulting (Regd under Companies Act 1956, Ministry of Corporate Affairs. Govt Of India)

Rashtriya Udhyog Rattan Award Winner 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

……………………………………………………………

Educational Qualification Professional Qualification Address for Correspondence

Total Marks 100 Q- 1/20 Q- 2/20 Q- 3/20

Phone Number Mobile No Phone Number Mobile No. Freshers/ Experience

Q- 4/20 Q- 5/20 TOTAL FOR OFFICE USE

Applicant /Selected / Rejected . REMARKS

DATED ………………………..

SIGNATURE OF CANDIDATE

Marks Obtained

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…

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

-Received Cash from Ashok kumar Against Bill No:98

790

F… F…

F… F…

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

-Discount allowed to A -Purchased Furniture for cash from M/s Bharat Furniture Bill -9860 -Paid to B by SBI Ch:297003

10

750

745 5

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

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

500

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

-Credit Sales to M/s Harish & Co. against bill no 12

785

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

-Cash Deposited into Car Loan a/c

F…

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

-Purchased a Maruti Car from Maruti Udhyog by SBI cheque No:297004

F…

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

-Paid SBI Ch: 297005 to D against Bill no 675

F…

F… F…

1,900

6,140

647

F…

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

Discount Received

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

Withdraw Cash From the PNB A/C for Personal Use

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………………….

F…

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

Discounted a Cheque of Mr Dinesh Kumar @ Rs 10/per thousand and Deposited into PNB A/c 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” Received a PNB Cheque from Sohan Lal & Endosed in favour of Mohan Lal Paid a cheque to Ram Saran for cash purchase of Furniture for office use.

F…

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

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

F…

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

10

Question : 2 Please Tick Mark the Correct answer ( True /False) - Return Inward a/c –Dr

True /False

To Purchase a/c -Party a/c –Dr

True /False

- Bank a/c –Dr

True /False

To Sales a/c True /False

To Bank a/c -Purchase a/c-Dr To Return Outward To Supplier a/c -Mahesh a/c-Dr To Credit Sales To Return Inward -Dinesh A/c –Dr -Bank Charges-Dr To PNB -Drawing a/c-Dr To SBI A/C

True /False

To Purchase a/c

To Return Outward a/c - Party a/c –Dr

- Party a/c –Dr

Marks: 20

- Cash a/c –Dr

True /False

To Dividand a/c True /False True /False True /False True /False

-Mahesh a/c-Dr To Credit Sales To Return Inward -SBI A/c –Dr -Bank Charges-Dr To Mahesh -SBI A/c –Dr - To FDR -To Interest a/c - PNB A/c –Dr - To Car -To Interest a/c

True /False True /False True /False True /False

375

4000

50

2000

1575

-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

True /False

Sales of Assets –Dr To PNB A/c

True /False

Loss of Cash due to Theft a/c –Dr To Bank a/c Purchase a/c –Dr To Vat out put a/c To Mahesh a/c

Car a/c-Dr To Depreciation a/c To Cash Life Insurance Policy a/c-Dr To PNB A/c

True /False

Purchase A/c-Dr To Return Inward

True /False

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

True /False

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

True /False

Rent A/c –Dr To outstanding Rent A/c Rent A/c –Dr To Fixed Deposit

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

True /False

True /False

Marks: 10

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

Marks: 10

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 Dr ………………………………………………Cr………………………………………..

Question : 4

Marks: 10

PRACTICAL (1) Calculate the VAT –Value Added Tax (Through TALLY ERP 9) Name of item

Under

Rate per litre

Refined Ghee - 4%

5 Kg

@50/-

Mustard oil 12.5%

5 Kg

@80/-

Refined Ghee - 4%

10 KG

@50/-

Mustard oil 12.5%

10 KG

@80/-

Refined Ghee - 4%

12 KG

@55/-

Mustard oil 12.5%

14 KG

@85/-

Opening balance of

PURCHASE FROM ABC & CO

SALE TO KBC & CO

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 I.Tax Surcharge Edu.cess Sec Higher Edu Cess

Rs 25,000/- (Pan card holder)

@ 10% @ 0% @ 0% @ 0%

2,500/Nil/Nil/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% Edu.Cess

2000/-

@2%

40/-

Higher Edu. Cess @1% Total amount

:

20/22060/-

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

General Expenses PNB Saving Bank-a/c

7,580 18,980

Capital Account A-Ramesh Kumar

Purchases Stock (1.4.2010)

63,900

Trade Debtors

63,220

Carriage Inwards 1,00,000

1,17,200

3,580

B-Mahesh Kumar

69,200

Lease hold premises

40,000

Returns Inwards

28,600

Housing Loan a/c

40,000

Salaries

15,700

Returns Outwards

16,200

Sales

2,200

FDR

2,600

400

Rent

11,200

Plant and Machinery

59,000

39,940

Lap Top

30,000

30,000

Commission

Interest

on

Saving

1,98,400

Bank a/c Cash in hand Discount allowed Wages

8,600

(Manufacturing) Bank Over Draft

1500

Received Travelling allowance

Mr Sahil Loan (Dr )

500 2000

Printing & Stationery

1000

Security received

2000

(against Rented house) Carriage on Sales

500

Scooter Expenses

2600

Rent Received Car Loan a/c

500 2600

The following additional information is available,Kindly made the following 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 st 12-Stock in hand at 31 March, 2011 was Rs. 93,840 .............................................................................................................................