SAMPLE PAPER OF ACCOUNTANCY class11

SAMPLE PAPER OF ACCOUNTANCY

CLASS - XI

ACCOUNTANCY (055)

SET-I

Q. NO.	QUESTION	MARKS
PART A : FINANCIAL ACCOUNTING-I
1.	The balances of ledger accounts are transferred to: (a) Journal                                                          (b) Balance sheet (c) Trial Balance                                                (d) Subsidiary Books		1
2.	‘Closing stock is valued at lower of cost or Market Price’. Which concept of Accounting is applied here?		1
3.	Which of the following is not a current liability? (a) Debentures                                                  (b) Creditors (c) Bills Payable                                               (d) Short term loans		1
4.	IFRS are based on: (a) Principles                                                   (b) Rules (c) All of the above                                         (d) None of the above		1
5.	Sale of household furniture of Rs. 50,000 of proprietor for Rs. 45,000 and invested the same amount in business will be called as------------.		1
6.	Capital Expenditure is non – recurring and irregular.  True/False		1
7.	Match the following with correct option  Column A Column B Monthly total of purchase book is  a) Posted to ‘Cr’ of purchases A/C  Total of sales book is posted to  b) Posted to ‘Dr’ of purchases A/C  c) Posted to ‘Cr’ of sales A/C  d) ) Posted to ‘Dr’ of sales A/C		1
8.	When cheques issued by the trader but not yet presented for payment will:  (A) Decrease the pass-book, and no affect on the cash-book.  (B) No affect on the pass-book, and decrease the cash-book.  (C) Both (A) and (B)  (D) None of the above.		1
9.	Writing an amount in the wrong account but on the correct side will __________ the trial balance.  a) Will affect  b) Will not affect  c) None of them		1
10.	If the depreciable cost of an asset is Rs. 90,000 and its scrap value is Rs. 9000, then the original cost of an asset is ___________.  Rs. 81,000 Rs. 99,000 Rs. 9000 Rs. 90,000		1
11.	Capital Redemption Reserve is:  General Reserve  Revenue Reserve Specific reserve   None of these		1
12.	If maturity date of bill is national holiday then due date will be ……  Previous working day Next  working day after national holiday On the day of national holiday None of the above		1
13.	An item of Rs 72 has been debited to a personal account as Rs 27, is an error of: a) Error of Principle                             b)Error of Omission  c) Error of Commission                          d) None of the above		1
14.	You are a senior accountant of a firm . What three steps would  you take to make your company’s financial statements understandable and helpful for decision making? OR “For centuries, the role of accounting has been changing with the changes in economic development and increasing societal demands” In the light of above statement explain three different roles of accounting.		3
15.	State the accounting Principles involved in these statements: Recognition of expenses in the same period as associated revenues.. The accounting concept that refers to the tendency of accountants to resolve uncertainty and doubt in favour of understating assets and revenues and overstating liabilities and expenses. Revenue is generally recongnised at the point of sale denotes the concept of _______________. This concept requires that accounting transaction should be free  from the bias of accountants and others		4
16.	Following transactions are of M/s. Decent Garments for the month of April, 2020. Prepare their Purchase Book:  April, 9:  Purchase on credit from M/s. Mehra Mills:                     200 pieces long cloth @ Rs.80                     50 pieces shirting @ Rs.100  April,  14: Purchased for cash from Ashish Furniture:                    5 sofa chairs for office use @ Rs.2,100  April, 25: Purchased on credit from M/s. Rajan Mills:                     15 pieces coating @ Rs.1,000                     10 pieces shirting @ Rs.90  April, 30:  Purchase on credit from M/s. Kumar Typewriters Ltd:                      4 typewriters @ Rs.5,600 each		4
17.	Priya  purchased goods from Sona for Rs.40,000 on 1st March, 2020 , and accepted a bill of exchange for 2 months drawn on her by Sona on the same date for the amount. Sona got the bill discounted at her  bank at 12% p.a. on due date the bill dishonored and noting charges Rs. 400 paid by Bank . Pass entries in the books of Priya and Sona.  OR On Feb 01, 2017, John purchased goods for Rs. 15,000 from Jimmi. He immediately made a payment of Rs. 5,000 by cheque and for the balance accepted the bill of exchange drawn upon him by Jimmi. The bill of exchange was payable after 40 days. Five days before the maturity of the bill, Jimmi sent the same to his bank for collection. The bank duly presented the bill to John on the due date who met the bill. The bank informed the same to Jimmi. Pass journal entries in the books of Jimmi and Prepare John’s account in the books of Jimmi		4
18.	Rectify the following errors by passing journal  entries:  Sale of old furniture for Rs.3,500 passed through the sales book.  Goods worth Rs.200 purchased from Sohan has been posted to his account as Rs. 250 Paid Rs.10,000 for the installation of machinery debited to wages account.  Credit sale to Mohit Rs.7,000 were recorded in Purchases Book. However, Mohit’s Account was correctly debited..		4
19.	Prepare Two column Cash book from the following information for June, 2020:  June 1 Cash in hand 2,800 June 1 Cash at Bank  7,000 June 10 Discounted a bill of exchange at 1% p.a. through bank 5,000 June 15 Cash Sales plus CGST and SGST @ 9% each 6,000 June 18 Paid into the bank 3,000 June 20 Paid rent  700 June 25 Bank charges  100 June 30 Withdrawn from bank for personal use 1500		6
20.	Prepare Bank Reconciliation Statement of Mr. Anil as on 31st March, 2015 on the basis of following information: i) Debit balance as per Cash Book Rs. 1,500. ii) Payments side of the cash book has been undercast by Rs. 100. iii) A cheque of Rs. 750 deposited in bank has been dishonoured. iv) A cheque of Rs. 2,000 issued in favour of X has not been presented for payment. v) A sum of Rs. 3,600 deposited in the bank has been credited as Rs. 360 in the passbook		6
21.	Nikhil Ltd purchased a plant on 1st October, 2016 at a cost of Rs.6,00,000 and Rs.1,00,000 was spent on its installation. The depreciation is written off at 15% p.a. on the straight line method. The plant was sold for Rs.3,00,000 on 1st January, 2019 and on the same date, a new Plant was installed at the cost of Rs.8,00,000 including purchasing value. The accounts are closed on 31st March every year. Show the plant account and provision for depreciation account for 3 years OR Rohini Cement Limited purchased on 1st April, 2016 a plant for Rs.80,000. On 1st July, 2017, it purchased additional plant costing Rs.48,000. On 1st December, 2018, the plant purchased on 1st April, 2016 was sold off for Rs.42,000 and on the same date fresh plant was purchased at the cost of Rs.75,000. Depreciation is provided at 10% per annum on the Diminishing Balance Method every year. Accounts are closed each year on 31st March. Show the Plant Account for 3 years.		8
PART B : FINANCIAL ACCOUNTING-II
22.	If Rent paid in advance Rs. 7000 given in Trial balance. It will be shown in  a. Liabilities  b. Assets  c. Profit & Loss Account (Debit)  d. Trading Account (debit)			1
23.	If opening stock is Rs. 30000, closing stock is Rs. 40000, Purchases are Rs. 80000, Direct Expenses Rs. 30000. What will be the value of Cost of Goods sold  100000   120000   90000   80000			1
24.	When closing capital is less than opening capital then result will be:  a. Profit  b. Loss  c. No profit no loss  d. Loss if there is no drawings			1
25.	An Electronic device which is capable of performing a variety of operations as directed by a set of instructions :  a. Computer  b. Radio  c. Typewriter  d. Television			1
26.	Fill in the most appropriate word: ____________ has permanently non-volatile memory which cannot be changed			1
27.	Hard Disk Drive, CDs, DVDs, USB Flash Drives, etc. are examples of secondary storage devices.  (True/False)			1
28.	Components of Accounting Information System are: (a) People  (b) Procedures (c) Data  (d) All of the above			1
29.	Compute cost of goods sold and Gross profit  for the year 2017 with the help of the following information Sales 20,00,000 Purchases 15,00,000 Wages  1,00,000 Stock (Apr 1, 2016) 3,00,000 Stock (March 31, 2017) 4,00,000 Freight Inwards 1,00,000 OR From the following figures, Calculate Gross Profit and Cost of Goods Sold: Net Sales during the year: Rs 24,00,000 Gross Profit                      : 20% on cost			3
30.	“A computer system possesses some characteristics, which, in comparison to human beings, turn out to be its capabilities.” In the light of above statement explain any four capabilities of a computer system. OR “In spite of possessing many capabilities, computers cannot replace humans completely” Do you agree? Give any three reasons.			4
31.	Ravi does not keep his books under double entry system. His position on 31st March, 2016 and 31st March, 2017 are given as under: Particulars 31st March 2016 31st March 2017 Creditors 45,000 93,000 Loan from wife 66,000 57,000 Debtors 22,500 ------- Land & Building 89,600 90,000 Cash in Hand 7,500 8,700 Bank Overdraft 25,000 -------- Furniture 1,300 1,300 Stock 34,000 25,000 During the year Ravi sold his private car for Rs. 50,000 and invested this amount into the business. He withdrew from the business Rs. 1,500 per month up to October 31, 2016 and thereafter Rs. 4,500 per month as drawings. You are required to calculate profit or loss for the year ended March 31, 2017.			6
32.	Prepare a trading and profit and loss account of M/s Green Garments for the year ending 31st March, 2018 from the following figures taken from his trial balance: Particulars Rs. Particulars Rs. Opening stock 35,000 Sales 2,50,000 Purchases 1,25,000 Purchases returns 6,000 Returns inward 25,000 Creditors 10,000 Postage & Telegram 600 Bills Payable 20,000 Salaries 12,300 Discount 1,000 Wages 3,000 Provision for Doubtful Debts 4,500 Rent & Rates 1,000 Interest Received 5,400 Packing & Transport Charges 500 Capital 75,000 General Expenses 400 Insurance 4,000 Debtors 50,000 Cash in Hand 20,000 Cash at Bank 40,000 Machinery 20,000 Office Lighting & Heating Charges 5,000 Discount 3,500 Bad Debts 3,500 Investment 23,100 3,71,900 3,71,900 Adjustments: (i) Depreciation charged on machinery @ 5% p.a. (ii) Further bad debts Rs.1,500, discount on debtors @ 5% and make a provision for doubtful  debts @ 6%. (iii) Wages prepaid Rs.1,000. (iv) Interest on investment @ 5% p.a. (v) Closing stock 10,000. OR Prepare a Trading and Profit & Loss Account for the year ending March 31, 2019, from the balances extracted of M/s Nayyar Bros.. Also prepare a balance sheet as at that date. Particulars Dr. Cr. Capital 12,500 Loose Tools 6250 Furniture 640 Building  7,500 Bad Debts 125 Provision for Bad Debts 200 Sundry Debtors and Creditors 3,800 2,500 Stock on 1st April 2018 3,460 Purchases and Sales 5,475 15,450 Bank Overdraft 2,850 Sales Returns And Purchase Returns 200 125 Stationery  450 Interest  118 Commission 375 Cash in Hand 650 Taxes and Insurance 1,250 General Expenses 782 Salaries 3,300 34,000 34,000 Adjustments: Closing Stock on 31st March, 2019 was valued at Rs. 3,250. Depreciate Building at 5% and Furniture at 10%. Loose Tool valued at Rs. 5,000 at the end of the year. Salaries Rs.300 and taxes Rs. 120 are outstanding. Insurance amounting to Rs. 100 is prepaid. Write off a further Rs. 100 as Bad Debts and Provision for Doubtful Debts is to be made at 5% on Debtors. Half of the stationery is used by the proprietor for his personal purposes.			8

-------------------------------- END OF PAPER------------------------------------------