CA Foundation Accounting RTP September 2024: Question Paper and Solutions

How to Prepare for CA Foundation Accounting

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Question directory and available solutions

28 indexed questions. Open a question to read its full statement and available answer.

1. State with reasons, whether the following statements are true or false: Accrual concept implies accounting on cash basis.
2. State with reasons, whether the following statements are true or false: The Sales book is kept to record both cash and credit sales.
3. State with reasons, whether the following statements are true or false: Bank reconciliation statement is prepared to arrive at the bank balance.
4. State with reasons, whether the following statements are true or false: The provision for bad debts is debited to sundry debtors account.
5. State with reasons, whether the following statements are true or false: Periodic inventory system is a method of ascertaining inventory by taking an…
6. State with reasons, whether the following statements are true or false: Discount at the time of retirement of a bill is a gain for the drawee.
7. State with reasons, whether the following statements are true or false: The provision for discount on creditors is often not provided in keeping…
8. State with reasons, whether the following statements are true or false: Partners can share profits or losses in their capital ratio, when there is…
9. State with reasons, whether the following statements are true or false: Both revenue and capital nature transactions are recorded in the Receipts…
10. State with reasons, whether the following statements are true or false: A fixed charge generally covers all the assets of the company including…
11. Explain Cash and Mercantile system of accounting.
12. You are required to pass necessary journal entries in the books of Kewal: (i) Cheque amounting - 9,000 from Hari Krishan in full settlement of his…
13. Classify the following expenditures as capital or revenue expenditure: (i) Travelling expenses of the directors for trips abroad for purchase of…
14. Prepare a Triple Column Cash Book from the following transactions of M/s Ram Agencies and bring down the balance for the start of next month: 2024 ₹…
15. Pass the Journal entries to rectify the following errors detected during preparation of the Trial Balance: (i) Wages paid for construction of office…
16. According to the cash-book of Mihir there was balance of 4,45,000 in his bank on 30 th June, 2024 On investigation you find that : (i) Cheques…
17. From the following particulars ascertain the value of inventories as on 31st March, 2024 : Inventory as on 1st April, 20233,50,000 Purchase made…
18. M/s. Deepak Transport Company purchased10trucks @50,00,000 each on 1 st October, 2020 . On 1 st January, 2023, one of the trucks is involved in an…
19. Aadya owed - 1,00,000 to Aanya. On 1 st October, 2023, Aadya accepted a bill drawn by Aanya for the amount at 3 months. Aanya got the bill…
20. The following is the Trial Balance of Mr. Shekhar on 31 st March, 2024 : Dr. ₹ Cr. ₹ Capital - 6,00,000 Drawings 70,000 - Fixed Assets (Opening)…
21. The following information of M/s. Sanyam Club are related for the year ended 31st March, 2024: (1) Balances As on 01-04-2023 (₹) As on 31-3-2024 (₹)…
22. Shivam Enterprises maintain their books of accounts under single entry system. The Balance-Sheet as on 31st March, 2023 was as follows : Liabilities…
23. A and B are partners in a firm. Their capitals are: A - 6,00,000 and B - 4,00,000. During the year ended 31 st March, 2024 the firm earned a profit…
24. P and Q are partners, sharing profits and losses in the ratio of 3:1. As at 31st March, 2024, following is the Balance Sheet of P and Q. Balance…
25. Happy Limited registered with an authorised equity capital of 4,00,000 divided into 4,000 shares of 100 each, issued for subscription of 2,000…
26. Well Done Ltd. issued - 3,50,000,12% Debentures of 100 each at par payable in full on application by 1st April, Application were received for…
27. A company had issued - 40,000,12% debentures of 100 each on 1 st April, 2020. The debentures were due for redemption on 1 st March, 2024. The terms…
28. Following is the extract of Balance Sheet of Goldstar Ltd. as at 31 st March, 2024 : ₹ Authorized capital: 3,00,000 equity shares of 10 each -…