Sample Paper (2)
CLASS XI ACCOUNTANCY
GENERAL INSTRUCTIONS:
1. This question paper contains two parts A & B.
2. All questions are compulsory.
3. All parts of questions should be attempted at one place.
Q1. What are the rules of debit & credit for Assets & expenses?
(1)
Q2.How will you deal with the following items in Accounting equation:
(1)
i.
ii.
Interest on Drawing
Outstanding expenses
Q3. What is meant by fictitious assets?
(1)
Q4. Give one difference between Trade bill & Accommodation bill.
(1)
Q5. Define Accounting?
(1)
Q6. What do you understand by reserve? Give two objectives of creating reserves.
(3)
Q7. Pass the Journal Entries:-
(3)
5Jan
Cash withdrawn from bank for personal use Rs.5, 000
12Jan
Goods loss by fire Rs.5, 000
31Jan Bank charged bank charges Rs.50
Q8. Discuss the following qualitative characteristics of accounting information:
I.
II.
(3)
Understandability
Reliability
Q9. Enter the following transactions in a cash book with cash & bank columns:
Jan1.
Bank overdraft Rs.12,000 & cash in hand Rs. 2,800
Jan7.
Cheque received from Ram Rs.4,000 discount allowed Rs. 200
Jan8.
Sold goods to Amit Rs.4,000.
Jan9.
Cheque received form Ram deposited into Bank.
(4)
Jan12. Cheque paid to Radha Rs.2,500 & discount received Rs.50.
Jan15. Ram’s cheque dishonoured.
Jan20. Money withdraw from bank for office use Rs.2,000
Q10. Journalise the following transactions:
(2)
1. Goods costing Rs. 1,000 sold at 10% loss out of which Rs. 300 was received in cash & rest by cheque.
2. Paid cash to Mr. Mahesh on behalf of Mr. Arun Rs.2050.
Q11. “According to what concept closing stock is valued at cost price or realisable value whichever is less.”
Explain the concept in which the statement is based.
(3)
Q12. Briefly answer the following questions with reason: According to modern concept.
I.
II.
(4)
Sold goods on credit to Ram, mention which account will be debited & which will be credited.
Bank interest Rs.150 credited by bank. Mention which account will be debited & which account will be
credited.
Q13. On Jan 1,2004, JANKI & SONS purchased plant costing Rs.80,000. It was decided to provide for
depreciation @ 20% on straightline value. The plant was destroyed by fire on 31 st July, 2007 & insurance claim
of Rs.25,000 was admitted by insurance company. Prepare Plant account & it’s working clearly. Accounts are
closed on 31st December every year.
(5)
Q14. ENTER THE FOLLOWING TRANSACTIONS IN THE SALES BOOK OF M/S SHRI RAM & SONS, Kolkata:-
(6)
1994 JAN5. Sold to Ramesh stationery House, Kolkata:50 Dozen penciles @ RS.20 Per Dozen.
20 Dozen pens @ Rs.5 per pen.
Trade discount 10%
Jan 8. Sold to Gupta Stationery shop, Kanpur:10 Dozen Note books @ Rs.60 per dozen
15 Gross Rubbers @10 per Dozen.
Jan20. Sold old newspapers for Rs.150
Jan24. Sold to Modern stationery house, Lucknkow for cash:25 Dozen Pencils @ Rs.22 per Dozen.
Jan28. Soldto Ali Mohammad & sons, Allahabad:10 Reams of paper @ Rs.80 per Ream
Discount 15%
Jan 31. Sold old Furniture to Kedar Nath & co. Allahabad on credit Rs.2,200.
Q15. X sold goods to Y for Rs. 23,400 on 1st January 2009 and drew a bill upon him. Y accepted the bill and
sent it to X on the same date. X discounted the bill with the bank. On the due date Y failed to pay the due
amount to bank and hence subsequently dishonoured the bill. Y requested to X to accept Rs.3,400 immediately
& charge the interest @ 10% p.a for further 3 months with the new bill. X agree for this & draw the new bill for
the same amount. On the due date the bill is honoured. Pass journal entries in the book of X.
(6)
Q16. Draw up a bank reconciliation statement as on 30th September, 2003 from the following particulars: (6)
On 31st March, 2005 your pass book showed a balance of RS.6000 to your credit.
1. Before that date, you had issued cheques amounting to RS.1500 of which cheques of RS.900 have been
presented for payment.
2. A cheque of RS.800 paid by you into bank on 29th March, 2005 is not credited in the pass book.
3. There was a credit of RS.85 for interest on current account in the pass book.
4. On 31st March, 2005 a cheque for RS.510 received by you & was paid into bank but the same was
omitted to be entered in the cash book.
Q17. You are presented with a trial balance showing a difference, which has been carried to Suspense Account
and the following errors are revealed: (7)
(i)
Rs. 350 paid in Cash for a typewriter was charged to Office Expenses A/c.
(ii)
Goods amounting to Rs.660 sold to W were correctly entered in the Sales Book but posted to
W’s Account as Rs. 760.
(iii)
Goods worth Rs. 130 returned by G, were entered in the Sales Book and posted there from to the
credit of G’s personal account.
(iv)
Goods sold for Rs. 1,240 and debited on 20th December to C, were returned by him on 23rd and
taken into stock on 31st December, no entries being made in the books for return.
(v)
Sales book was overcast by Rs. 100.
Journalize the necessary corrections
PART - B
Q18. The under mentioned Trial Balance was extracted from the books of Mr. Kumar on 31 st March, 2002:
Debit Balances
Rs. Credit Balance
Rs.
Land and Building
3,000 Capital
21,000
Plant and Machinery
8,000 Sales
32,000
Office Furniture
1,000 Sundry Creditors
2,900
Purchases
18,000 Returns
500
Sundry Debtors
8,500 Bills Payable
3,000
Returns
300 Provision for Doubtful Debts
400
Rent Rates & Taxes
750
Stock (1-4-2001)
3,200
Postage & Telegrams
100
Selling Expenses
900
Wages & Salaries
2,800
Telephone Charges
400
Establishment Expenses
2,450
Printing and Stationery
1,500
Bad Debts
100
Commission
1,000
Cash in hand
2,000
Motor Cycle
4,200
Travelling Expenses
400
Carriage Inwards
1,000
Drawings
200
59,800
59,800
Prepare Trading and Profit and Loss Account and Balance Sheet as on 31 st March, 2002. After taking
the following adjustments into consideration:
1. The value of stock on 31st March, 2002 was Rs. 7,500 and stock of stationery in hand was Rs. 500.
2. Provision at 5% on sundry debtors is to be maintained and provide for discount on debtors at 2%.
3. Plant and Machinery is to be depreciated at 10%. Motor cycle was valued at Rs. 4,000 on 31-32002.
(8)
Q19. Classify the following items into capital & revenue expenditure:
(4)
a. Cost of installation Machinery.
b. Wages paid for manufacture of saleable products.
c. Cost of Patents.
d. Interest on loan borrowed for business.
Q20. Name the two sources of income for non- profit organization?
(2)
Q21. A, who keeps the books on single entry system, gives the following information. Ascertain his profit or loss
for the year ending 30th June, 2006.
(6)
His position on 1st July, 2005 was as follows:cash in hand Rs. 400; cash at bank Rs. 2,000; stock Rs. 5,000; machine Rs. 15,000; bills payable Rs. 2,000;
creditors Rs. 4,000; debtors Rs. 6,000; furniture Rs. 5,000.
His position on 30th June, 2006 was as follows:cash in hand Rs. 1,600; cash at bank Rs. 1,000; stock Rs. 8,000; machinery Rs. 20,000; bills payable Rs. 2,500;
creditors Rs. 3,000; debtors Rs. 7,500; furniture Rs. 6,000.
During the year, A introduced Rs. 1,500 as additional capital, He sold his private scooter for Rs. 1,500
and brought this money into business. He withdrew Rs. 4,500 for domestic purposes. In addition he paid Rs.
1,000 his domestic loan and Rs. 500 to his daughter for collage fees.
Provide 5% depreciation on machinery, write off Bad debt amounted to Rs. 500 and create a reserve for
doubtful debts at 10% on debtors. Also prepare final statement of affairs.
Q22. Prepare necessary ledgers.
(3)
Trial balance extract for 2010-11
Particulars
Dr.(amount)
Cr. (amount)
Debtors
5,00,000
Provision for doubt full debts
15,000
Bad debt
50,000
Additional information:1. Further bad debts during year Rs.25,000.
2. Make the provision for bad & doubt full debt 10% on debtors.