SAMPLE PAPER OF ACCOUNTANCY class11

 SAMPLE PAPER OF ACCOUNTANCY 

CLASS XI

SET-II

Q. NO.		QUESTION	MARKS
PART A : FINANCIAL ACCOUNTING-I
1.		Which external user of accounting information is most interested in knowing the long-term solvency position of the firm? Employees                                                  B) Management C)Banks and Financial Institutions              D) Researchers	1
2.		The process of recording transactions in journal is called……………	1
3.		Under the Accrual system of accounting, expenses are recorded: On Payment                                 B) On being incurred Either option (A) or (B)              C) Both options (A) and (B)	1
4.		When total of debit side of an account is more than the total of its credit side, the account is said to have ………….. balance. (Choose the correct option: Debit/Credit)	1
5.		State the accounting concept/convention involved: Goods sold on credit to Ramesh- Ramesh’s A/c is debited and Sales A/c is credited.	1
6.		What is voucher?	1
7.		Sales book is the part of Journal.  (True/False)	1
8.		Capital is: Internal Liability                     B) External Liability Either option (A) or (B)         D) Both (A) and (B)	1
9.		Purchase of Machinery on credit will be recorded in the following book of original entry: Purchase Book                       B) Cash Book C)Sales Book                               D) Journal proper	1
10.		On intra-state sale of goods which of the following GST is levied: Input CGST and SGST                   B)Output CGST and SGST C)Input IGST                                        D) Output IGST	1
11.		What is petty cash book?	1
12.		What type of ledger accounts are not carried forward to next year? Real accounts                                 B) Personal Accounts C)Nominal accounts                           D) All of the above	1
13.		What is Capital Reserve?	1
14.		What is meant by Accounting? List any four objectives of accounting.                                   OR State any three limitations of accounting.	3
15.		Enter the following transactions in Two-column Cash book of Amit  & Sons: 2020 July 1    Cash in Hand………….. Rs. 1,15,000 Cash at Bank………….. Rs. 45,000 July5 Goods sold  for Cash Rs. 13,000 of which Rs 7,000 are banked on the same day July 18 Cash withdrawn from bank for office use Rs. 7,500 and personal use Rs. 1,000. July 28 Deposited entire cash in bank retaining Rs.28,500	4
16.		Pass the Journal Entries for the following Transactions:     Goods purchased for Rs.20,000 . CGST 6% and SGST 6%. Ameesh, a customer of Rs. 6,000 became insolvent. Only 40% could be recovered from his estate. Goods of Rs. 5,000 taken by proprietor for personal use. Salary of Rs. 3,000 is still due.	4
17.		Explain following concepts/principles : Cost Concept Business Entity Concept                                                 OR Identify the Accounting Concept/principle: Cost incurred to earn revenue should be recognised as expense in the period when revenue is earned. A transaction is recorded in the books of accounts at the time when it is entered into and not when the settlement takes place. Capital contributed by the owner is credited to his capital a/c Advance received from a customer is not taken as income or sales.	4
18.		Prepare Bank Reconciliation statement from the following particulars as on 31st March 2020: Debit balance as per bank column of Cash Book  Rs.12,000. Cheques of Rs.9,000 were issued, out of these cheques of Rs.1,500 were presented for payment on 4th April. Interest credited  by bank Rs. 200, entered in cash book on credit side as Rs. 20. Cheques amounting to Rs.10,000 were deposited into bank but only cheques worth Rs. 7,000 were credited by the bank.	4
19.		Pass the necessary journal entries to rectify the following errors: Sales Return book overcast Rs. 1,000 Machinery purchased Rs9,600 from Kunal , wrongly entered in Purchase Book as Rs. 6,900. Goods sold to X and Y Rs. 2,000 and Rs. 3,000 respectively, wrongly posted as X Rs. 3,000 and Y Rs. 2,000. Goods purchased from Rahul Rs. 5,000 wrongly entered in purchase return book . Although, Rahul’s account correctly credited.  Rent paid to Landlord Rs. 12,000, wrongly debited to his personal account. Rs. 3,000 received from a customer, whose account was already written off as bad debt. No entry has been passed in this regard.	6
20.		A  drew two bills of exchange on B  for Rs.5,000 and Rs. 10,000 on January 1, 2020 for two months and three months respectively. Both the bills were accepted by B and returned to A on the same day. First bill of Rs. 5,000 was retained by A till maturity while the second bill of Rs. 10,000 was discounted by him on 4th March, 2020 at the rate of 9% per annum. On due date, both the bills were  dishonoured with noting charges of Rs. 50 and Rs. 80 respectively.  .  Pass necessary entries in the books of A and B.	6
21.		X Limited purchased a machinery of Rs.80,000 from Y Limited  on 1stOctober 2016. Further, new machinery of Rs.60,000 and  Rs. 30,000 was purchased on 1stDecember 2017 and   on 1 July 2018 respectively . On 30 September 2018, 1/3rd  of the machine purchased on 1st October 2016 was sold  for Rs. 15,000.  Prepare machinery account for three  years assuming depreciation is charged at the rate of 10% on diminishing balance method. Books are closed on 31st March each year.                                                   OR On 1stApril , 2015,AB Ltd. purchased five trucks for Rs. 20,000 each. Depreciation has been provided at the rate of 10% p.a. using straight line method   On January 01, 2017, one truck was sold for Rs.18,000. On July 01, 2017, another truck was sold for  Rs.15,000. A new truck costing ` 30,000 was purchased on October 01, 2017.  You are required to prepare Trucks account, for three years, assuming that the firm closes its books on 31st March every year.	8
PART B : FINANCIAL ACCOUNTING-II
22.	RAM  is : Permanent memory                                 B) Volatile memory C)Non-Volatile memory                               D) None of these.		1
23.	Tally is an example of: Readymade software                      B) Customised software C)Tailor-made software                     D) None of these		1
24.	What is meant by ‘Marshalling of Assets and Liabilities’?		1
25.	Which of the following is not a capital expenditure? Purchase of Furniture.                  Payment of wages for construction of Building. Brokerage paid in connection with purchase of land Advertising Campaign to launch a new product.		1
26.	Which of the following is not an input device? Mouse      B) Scanner     C) Monitor     D) Keyboard		1
27.	Calculate the amount of commission to be given to the manager @ 10% of net profits after charging such commission, if Net profits before such commission are Rs. 88,000.		1
28.	______________ is a set of instructions on the basis of which a computer operates.		1
29.	Compute cost of goods sold and gross profit for the year 2019-20 with the help of the following information. Particulars Rs. Sales  10, 00,000  Purchases    7, 00,000  Wages   1, 00,000  Stock (Apr. 01, 2019) 3, 00,000  Freight inwards 1,00,000 Salaries 80,000 Stock on 31st March 2020 was Rs. 50,000 less than in the beginning OR Compute Sales and Gross profit from the following information: Cost of goods produced Rs. 3,50,000 (Out of the above goods of Rs. 50,000 were lying unsold at the end of year) Gross profit is 20% on Sales.		3
30.	State how computerised accounting system is better than manual accounting system. (Any four points)        OR Write short notes on : Customised Accounting software Readymade Accounting software		4
31.	Mrs. Anita runs a small stationery shop.  She was maintaining only some records, which she thought, were sufficient to run the business.   Available information from her records indicated that she had the following assets and liabilities:  Particulars 1-04-2019 Rs. 31-3-2020 Rs. Equipments 3,00,000 3,50,000 Building 2,00,000 2,00,000 Stock 50,000 55,000 Cash at bank 65,000 40,000 Cash in hand 8,000 15,000 Dues from customers   20,000 17,000 Dues to creditors 75,000 65,000 Outstanding wages 5,000 nil She withdrew Rs. 5,000 every month for meeting her personal expenses. She had also introduced Rs. 25,000 during the year as additional capital.  Calculate the profit made by Mrs. Anita during the year using statement of affairs method.		6
32.	The following were the balances extracted from the books of Anshul as on March 31, 2020: Debit Balances Amount  Rs. Credit Balances  Amount  Rs. Cash in hand Cash at bank Purchases Return inwards Wages Fuel and Power Bad Debts Carriage on purchases Opening stock Building Freehold land Machinery Salaries Commission Patents General expenses Insurance Drawings Sundry debtors 500 2,600 40,000 700 8,400 4,600 1,000      2,000     5,000 32,000 10,000 20,000 16,500 2,100 7,500 2,000 600 5,000 16,000 Sales Return outwards Capital Sundry creditors Rent 98,700 500 62,000 6,300 9,000 1,76,500 1,76,500 Taking into account the following adjustments , Prepare Trading and Profit and Loss account and Balance Sheet as on March 31, 2020 : (a) Stock in hand on March 31, 2020, was Rs 6,000.  (b) Machinery is to be depreciated @ 10% and patents @ 20%.  (c) Salaries have been paid for 11 months only..   (e) Further bad debts are Rs. 2000. Create a provision @ 5% on debtors.  (f) Rent receivable Rs.1,000.                                         OR Prepare the trading,  profit and loss account and Balance Sheet of M/s Vimal as on 31 March 2020 Debit Balances Amount  Rs. Credit Balances  Amount  Rs. Opening stock Purchases Cash in hand Cash at bank Return inwards Wages Fuel and Power Carriage  Insurance Building Plant Patents Salaries Furniture  Drawings Bad Debts Debtors  24,000 1,60,000 16,000 32,000 4,000 22,000 18,000 6,000 8,000 1,00,000 80,000 30,000 28,000 12,000 18,000 2,000 80,000 Sales Return outwards Capital Sundry creditors Provision Bad debts Outstanding Rent  4,00,000 2,000 1,69,000 64,000 1,000 4,000 6,40,000 6,40,000 Adjustments  (a) Salaries have been paid 14 months. (b) Wages outstanding 6,000  (c) Goods of Rs. 5,000 were taken by proprietor for personal use. (d) Interest on Capital @ 10% p.a. (e) Provision for bad debts is not required. (f)  Closing stock 12,000		8