SSC CGL Finance – Ledger & Subsidiary Books – Exam-Level Drill

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SSC CGL Finance – Ledger & Subsidiary Books – Exam-Level Drill – 10 questions, subject: Finance & Economics (Tier II Paper III). Every question has the correct answer with a one-line explanation; tap "Show Answer". Free practice for TNPSC, UPSC, SSC, Bank and RRB exams – Shanmugam IAS Academy, Coimbatore.

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1.  
Opening: cash ₹ 15,000, bank ₹ 60,000. July: cash sales ₹ 22,000; paid Kumar by cheque ₹ 29,100 in full settlement of ₹ 30,000; received cash ₹ 14,700 from Siva in full settlement of ₹ 15,000; cash deposited ₹ 20,000; cheque from Rahim ₹ 18,000 banked; cash withdrawn from bank for office ₹ 7,000; salaries paid by cheque ₹ 16,000; furniture bought for cash ₹ 9,500; bank charges ₹ 200. The cash balance on 31 July is:

Correct Answer: B [₹ 29,200]

Explanation:

15,000 + 22,000 + 14,700 + 7,000 − 20,000 − 9,500 = 29,200.

2.  
Opening: cash ₹ 15,000, bank ₹ 60,000. July: cash sales ₹ 22,000; paid Kumar by cheque ₹ 29,100 in full settlement of ₹ 30,000; received cash ₹ 14,700 from Siva in full settlement of ₹ 15,000; cash deposited ₹ 20,000; cheque from Rahim ₹ 18,000 banked; cash withdrawn from bank for office ₹ 7,000; salaries paid by cheque ₹ 16,000; furniture bought for cash ₹ 9,500; bank charges ₹ 200. The bank balance on 31 July is:

Correct Answer: A [₹ 45,700]

Explanation:

60,000 + 20,000 + 18,000 − 29,100 − 7,000 − 16,000 − 200 = 45,700.

3.  
Two-quantity comparisonOpening: cash ₹ 15,000, bank ₹ 60,000. July: cash sales ₹ 22,000; paid Kumar by cheque ₹ 29,100 in full settlement of ₹ 30,000; received cash ₹ 14,700 from Siva in full settlement of ₹ 15,000; cash deposited ₹ 20,000; cheque from Rahim ₹ 18,000 banked; cash withdrawn from bank for office ₹ 7,000; salaries paid by cheque ₹ 16,000; furniture bought for cash ₹ 9,500; bank charges ₹ 200.
Quantity I: total of discount allowed Quantity II: total of discount received

Correct Answer: B [Quantity I < Quantity II]

Explanation:

Allowed (Siva) 300 < received (Kumar) 900.

4.  
Imprest ₹ 4,000; spent during the week ₹ 3,240. The imprest is now raised to ₹ 5,000. The cheque given to the petty cashier is:

Correct Answer: A [₹ 4,240]

Explanation:

Cash left 760 → new imprest 5,000 − 760 = 4,240.

5.  
Sales Book total for July ₹ 85,000; Sales Returns Book total ₹ 4,200. Net sales for July are:

Correct Answer: D [₹ 80,800]

Explanation:

Answer: ₹ 80,800. 85,000 − 4,200 = 80,800.

6.  
Hema (supplier): opening credit ₹ 14,000; purchases ₹ 26,000 and ₹ 18,000; returns to her ₹ 1,800; paid ₹ 31,500 with discount ₹ 500; bill accepted ₹ 12,000. Her account shows:

Correct Answer: C [₹ 12,200 credit]

Explanation:

Cr 58,000 − Dr 45,800 = 12,200 credit.

7.  
Reverse questionA creditor's account closes with a credit balance of ₹ 21,000. During the period it was credited with ₹ 64,000 and debited with ₹ 59,000. The opening balance was:

Correct Answer: B [₹ 16,000 credit]

Explanation:

For a credit account: opening = closing − credits + debits = 16,000 credit.

8.  
The Sales Book total for a month is undercast (added short) by ₹ 1,000; individual postings are correct. Which account is affected?

Correct Answer: C [Sales Account (understated by ₹ 1,000)]

Explanation:

Only the total posted to Sales A/c is wrong; customers were posted line by line.

9.  
Arrange in orderArrange the steps of balancing an account in order:
1. Bring down the balance on the opposite side 2. Total both sides 3. Write the difference on the smaller side as balance c/d 4. Write equal totals on both sides

Correct Answer: A [2 – 3 – 4 – 1]

Explanation:

Total → c/d on smaller side → equal totals → b/d next period.

10.  
Cheques worth ₹ 18,000 received from customers are deposited on the same day. In a triple column cash book they are entered in:

Correct Answer: D [The bank column on the debit side]

Explanation:

Cheques banked on the day of receipt go straight to the bank column (receipts side).

➤ Full notes, shortcuts and every answer explained – SSC CGL 2026 Finance & Economics (Tier II Paper III) book (₹149): www.shanmugamiasacademy.in/study-materials/ssc-cgl-finance-economics

📘 SSC CGL 2026 – General Studies – Finance & Economics (Tier II Paper III)
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