SAMPLE PAPER OF ACCOUNTANCY (055)
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CLASS -XI
Q-1 Which of the following is not the branch of accounting?
(a) Financial accounting
(b) Cost accounting
(c) Book-keeping and accounting
(d) Management accounting
Q-2. Which of the following is liability?
(a) Furniture
(b) Rent Payable
(c) Interest received
(d) Stock
Q-3 Match the items given under ‘A’ with the correct items under ‘B’
A B
1. Amount invested by owner in the business a) Liability
2. Amount owed by the business to outsiders b) Capital
3. Excess of total expense over total revenue c) Drawing
4. Assets having physical existence d) Loss
5. Money withdrawn from business for personal use e) Tangible assets
Q-4 According to which of the following concepts, in determining the net income from business,
all cost which is applicable to revenue of the period should be charged against that
revenue?
(a) Matching Concept
(b) Money Measurement concept
(c) Cost Concept
(d) Dual Aspect Concept
Q-5 Under Accrual Basis of Accounting:
(a) Both cash and credit transactions are recorded.
(b) Only cash transactions are recorded.
(c) Only credit transactions are recorded.
(d) None of the above.
Q-6 According to ________ irrelevant information or facts need not be disclosed.
(a) Consistency concept
(b) Matching concept
(c) Going concern concept
(d) Materiality concept
Q-7 ‘Depreciation charged on Machinery’. Which accounting voucher will be prepared for it? 1
Q-8 State whether the following statements are True or False.
I. Credit voucher is prepared when payment is made.
II. Source documents are authentic proof of the correctness of the recorded transactions.
Q-9 Why the ledger is called the book of final entry? 1
Q-10 If an account has a credit balance, it means ________.
(a) Both debit and credit sides are equal
(b) Total of debit side exceeds the total of credit side
(a) (c) Total of credit side exceeds the total of debit side
(d) None of the above
Q-11 Goods costing Rs. 10,000 were destroyed by fire. In which subsidiary Book, you will record
this transaction?
Q-12 Match the items given under ‘A’ with the suitable statements under ‘B’
(A) (B)
I. Bank reconciliation statement
II. Bank charges by the bank
III. Debit balance of the cash book means
IV. Interest allowed by the bank
V. Debit balance of the pass book implies
a) Favourable balance
b) Overdraft
c) Is prepared by account holder
d) Is debited in pass book
e) Is credited in pass book
Q-13 State with reasons whether the following statements are true or false: 1
I. Bank reconciliation statement is prepared to arrive at the bank balance
II. If balance as per cash book and pass book are the same then there is no need to
prepare bank reconciliation statement.
Q-14 What is the main objective of preparing a trial balance? 1
Q-15 Suspense Account in the trial balance will be entered in the:
(a) Manufacturing Account
(b) Profits and loss Account
(c) Trading Account
(d) Balance sheet
Q-16 If wages paid for installation of new machinery is debited to wages account, it is ________.
(a) An error of commission
(b) An error of principle
(c) A compensating error
(d) An error of omission
Q-17 Depreciation is ___________.
(a) Capital Expenditure
(b) Revenue Expenditure
(c) Deferred Revenue Expenditure
(d) None of these
Q-18 Profit on sale of fixed assets is used to create __________.
(a) Capital reserve
(b) Specific reserve
(c) General reserve
(d) All of the above
Q-19 Calculate the due date of a bill of exchange accepted on 24th December, 2018 for 30 days. 1
Q-20 A sold goods to B for Rs. 10,000 on 1st January, 2019 and draws a bill on the same date
for 2 months. The bill was duly accepted by B and it was duly met on due date. Identify the
‘payee’ under each case:
(i) If A retains the bill till due date
(ii) If A discounts the same with his banker
(iii) If A endorses it to creditor C.
Q-21 Pass the journal entries to rectify the following errors, using suspense account.
(i) Goods of the value of Rs. 2,000 returned by Sharma were entered in the sales book
and posted there from to the credit of his account.
(ii) An amount of Rs. 3,000 entered in the sales return book has been posted to the debit
of Kumar, who returned the goods.
(iv) A sale of Rs. 2,000 made to Diwan was correctly entered in the sales book but
wrongly posted to the debit of Rajat as Rs. 200.
OR
Trial Balance of a firm did not match and difference was placed in Suspense Account. The
following errors were subsequently identified:
(i) Sales book was over casted by Rs. 200.
(ii) Goods sold to Manohar for Rs. 550 was posted as Rs. 5,500.
(iii) Purchases return book was carried forward as Rs. 1,220 instead of Rs. 1,120.
You are required to pass the journal entries for rectification of the above errors.
Q-22 Distinguish between provision and Reserve on the following Basis:
(i) Basis nature.
(ii) Purpose.
(iii) Effect on taxable profit
OR
Distinguish between ‘Revenue Reserve’ and a ‘capital Reserve’ on the basis of:
(i) Source of creation
(ii) Purpose
(iii) Usage
Q-23 Why the following parties are interested in accounting information? Explain with the help
example.
(a) Investor
(b) Government
(c) Bank
(d) Management
4
Q-24 What do you mean by accounting standards? Discuss its nature.
OR
Explain the following briefly with appropriate example:
(i) Revenue recognition concept
(ii) Conservation or prudence concept
(iii) Money measurement concept
(iv) Consistency Assumption or Concept.
Q-25 Prove that the Accounting Equation is satisfied in all the following transactions of Shiva and
Also prepare a Balance Sheet.
(i) Commenced business with cash Rs. 60,000.
(ii) Paid rent Rs. 500.
(iii) Purchase goods for cash Rs. 30,000 and credit Rs. 20,000.
(iv) Sold goods for cash Rs. 30,000 costing Rs. 20,000.
(v) Paid salary Rs. 500 and salary outstanding being Rs. 100.
(vi) Bought motorcycle for personal use Rs. 5,000.
Q-26 Following transactions are of Pardeep & Sons, Delhi for the month of December, 2018.
Prepare the sales Book.
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Q-27
Following balance were extracted from the book of Shri S. Pal on 31st March, 2020. You
are required to prepare a Trial balance.
Capital Rs. 1, 40,000, Purchases Rs. 36,000, Discount Allowed Rs. 1,200, Carriage
inwards Rs. 8,700, Carriage outwards Rs.2,300, Sales Rs. 60,000, Returns Inward Rs.
300, Returns outward Rs. 700, Rent and Taxes Rs. 1,200, Plant and Machinery Rs.
80,700, Stock on 1st April, 2019 Rs. 15,500, Sundry Debtors Rs. 20,200, Sundry creditors
Rs. 12,000, Investments Rs. 3,600, Commission Received Rs. 1,800, Cash in Hand Rs.
100, Cash at Bank Rs. 10,100, Motorcycle Rs. 34,600 and Stock on 31st March, 2020 (not
adjusted) Rs. 20,500.
Q-28 Enter the following transactions in the books of Laxmi traders assuming that all
transactions have taken place in the state of Rajasthan. Assume CGST @ 9% and SGST
@ 9% for all the transactions.
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Q-29. Prepare Bank Reconciliation statement as on 30th June, 2018 for Jyoti sales private limited
from the information given below: Rs.
Q-30. On 1st January, 2019, A drew a bill on B for Rs. 5,000 payable after 3 months. B accepted
the bill and returned to A. After 10 days, A endorsed the bill to his creditor, C. on the due
date, the bill was dishonoured and C paid Rs. 100 as noting charges. Record the
transactions in the Journals of A, B and C.
Q-31. Prepare Two-column cash book from the following transaction,2020.
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OR
Prepare cash book with Bank Column of Bharti, Lucknow from the following transactions:
Q-32. Star Ltd. Purchased 10 trucks at Rs. 5,40,000 each on 1st July, 2011. On 1st January, 2014,
One of the truck is involved in an accident and is completely destroyed. A sum of Rs.
3,24,000 is received from the Insurance Company in full settlement. On the same date,
another truck is purchased by the company for a sum of Rs. 6,00,000. The company writes
off depreciation @ 20% p.a. on the original cost and closes its books every year on 31st
March. Give the Trucks Account for three years ending 31st March, 2014.
OR
On 1st January, 2005, Z Ltd. Purchased Machinery for Rs. 1,20,000 and on 30th June,
2006, it acquired additional machinery for Rs. 20,000. On 31.03.2007, a new machine was
purchased for Rs. 8,000. On 31.08.2007, one of the old Machines (purchased on 01.01.
2005) which had cost Rs. 5,000 was found to have become obsolete and was sold as
scrap for Rs. 500. Depreciation is to be charged @ 10% p.a. on written down value method
Reviewed by Shubham Prajapati
on
February 03, 2021
Rating:
Good
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