TS Inter 1st Year Model Paper 2021 Commerce

0158

BOARD OF INTERMEDIATE EDUCATION, HYDERABAD

Model Question Paper Commerce -I
Time: 3 Hrs PART-I(50 Marks) Max Marks:100

Section –A 2x10=20

I Answer any two (2) of the following questions in not exceeding
40 lines each question carries 10 Marks

1. Define sole proprietorship and state its features ?
2. Define partnership. Discuss its advantages and disadvantages ?
3. Differentiate between a private company and a public company ?
4. What are the various factors that determine the selection of sources of
finance ?

Section-B 4x5=20
II Answer any four (4) of the following questions in not exceeding
20 lines each, each question carries 5 Marks.
5. Define Business. Explain its characteristics.
6. Define trade and explain various types of aids-to-trade ?
7. What are the limitations of sole trader ?
8. What are the different kinds of partnership?
9. Write any five advantages of a joint stock company?
10. What are the functions of a promoter ?
11. Briefly explain the registration process of MSMEs?
12. What are the benefits of e-business to customers?

Section-C 5x2=10
Answer any five (5) of the following questions in not exceeding
5 lines each, each question carries 2 Marks.

13. What is the Profession ?
14. What is the Entrepot trade ?
15. What is the Employment ?
16. Who is Active partner?
17. What is the Government company?
18. What is the Capital subscription ?
19. What is the Long –term finance ?
20. What is the Micro enterprise ?
21. What is the e-trading ?
22. State Service Enterprise. ?

PART-II (50 Marks)
Section -D
Answer the following question 1x20= 20
23. From the following Trial Balance of Mahindra Traders, Prepare Final
Accounts for the Year ended 31.12.2019
Particulars Debit Rs. Credit Rs.
Capital 32,000
Salaries 1,000
Purchases 20,000
Purchase Returns 400
Sales 25,000
Cash 5,000
Wages 1,200
Factory Rent 200
Insurance 750
Carriage 400
Office expenses 800
Carriage outwards 200
Machinery 10,000
Furniture 7,000
Discount allowed 450
Discount received 1,600
Goodwill 5,000
Opening stock 2,000
Debtors 9,000
Creditors 4,000
Total 63,000 63,000
Adjustments:-
1. value of closing stock Rs. 2,500
2. Prepaid Insurance Rs. 250
3. outstanding salaries Rs. 300

Section –E

Answer any one of the following questions 1x10=10
24. Prepare Three Column cashbook from the following particulars
2019 July Cash in hand 6,000
1st Cash in Bank 10,000
5th Cash sales 1,900
7th Issued chequee to D-Mart 1,800
Discount Received 200
th
8 Received cash from Sai Traders 1,850
Discount allowed 150
th
14 Cash withdrawn from bank for office use 550
nd
22 Cash purchases 600

29th Paid into bank 800
30th Salaries paid by chequee 2,400
31st Bank charges as per bank passbook 50

25. Prepare a bank reconciliation statement of S.V. Traders and find the
balance as per pass book as on 31.12.2019.
i) Cash book balance as on 31.12.2019 is Rs. 62,000
ii) Cheques amounting to Rs.18,000 issued but not presented for
payment
iii) A cheque for Rs.16,000 deposited and was returned
dishonored.
iv) Interest on investments Rs.2,200 was collected by bank but
no entry is made in the cashbook.
v) Bank charges debited in the passbook only Rs.150

26. Describe the causes of disagreement between the balance shown in the
cashbook and passbook.

Section-F

Answer any two of the following questions 2x5=10
27. State any 5 advantages of accounting
28. State the rules of debit and credit with examples

29. Prepare Sudha account from the following
2019 Feb. 1st Amount due from Sudha Rs.8,000
th
4 Goods sold to Sudha Rs.11,000
th
12 Goods returned by Sudha Rs.4,000
16th Cash received from Sudha Rs.3,000
22nd Received cheque from Sudha Rs.6,000
th
28 Sudha account settled with 10% discount

30. Explain the various types of subsidiary books

31. Prepare simple cashbook from the following transactions
2019 Feb. 1st Balance of Cash Rs.7,000
th
10 Bought goods Rs.2,500
15th Sold goods for Cash Rs.4,700
17th Paid rent Rs.1,000
18th Withdrawn cash for personal use Rs.500

32. What are the errors disclosed by Trial Balance.

Section -G
Answer any five of the following question 5 x 2 =10
33. What is transaction ?
34. Explain business entity concept of accounting ?
35. State accounting equation ?
36. Journalize the following transaction
2019 Dec. 1st Commenced business with cash Rs.60,000
6th Purchased from Raju Rs.15,000
17th Received cheque from Mahesh Rs.12,000
30th Paid cheques Rs.9,000

37. Trade discount ?
38. Contra Entry ?
39. Define Trial Balance?
40. Write two errors which are not disclosed by trial balance?
41. What is the meaning of adjustment ?
42. Depreciation?