KENDRIYA VIDYALAYA SANGATHAN

SESSION ENDING EXAMINATION

CLASS: XI
SUB.: ACCOUNTANCY
MAX.MARKS: 80 TIME: 3 Hrs.

General Instructions:
i. This question paper contains 7 pages.
ii. This question paper contains two parts A and B
iii. All parts of questions should be attempted at one place.
iv. Marks are indicated against each question.

PART- A (Financial Accounting I)

1. Which of the following is not one of the objectives of accounting?

(a) Providing information to its users
(b) Purchasing machinery for the business
(c) Maintaining of accounting records
(d) Computation of annual profits (1)
2. Creditors are mainly interested in
(a) Profits of the business
(b) Timely payment of their dues
(c) Assets of the business
(d) Volume of sales (1)
3. Debts written off as bad, if recovered subsequently credited to which account? (1)
4. Name the branch of commerce, which keeps a record of monetary transactions in a set of
books. (1)

5. X has following assets and liabilities as on 31st March, 2018. Calculate his capital. (1)

Cash Rs 25,000; Bank Rs 47,500; Debtors Rs 18,000; Creditors Rs 22,000; Plant and
Machinery Rs 80,000; FurnitureRs 24,000; Bills receivable Rs 56,500 Bills payable Rs 23,500.

6. If one aspect of a transaction is not recorded, which accounting concept is not followed? (1)
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7. Explain Principle of Matching Revenue with Cost. (1)

8. Cash column of cash book will always have a debit balance or at the most nil balance. Why? (1)

9. What does ‘Credit’ balance as per the Bank Pass Book mean?

10. Is it correct that Bank Reconciliation Statement is prepared once, i.e at the end of the year? (1)

11. What is ‘Depreciable Cost’? (1)

12. Define depreciation. (1)

13, Calculate due date for the bill drawn on 1st December 2018 for 60 days. (1)

14. What is retiring a bill under rebate? (1)

15. List out the objectives of Accounting (3)

OR
Briefly explain the qualitative characteristics of Accounting information. (3)
16. Journalise the following transactions in the books of Aman of Mumbai:

i) Purchased furniture for Rs 20,000 plus CGST and SGST @ 8% each.

ii) Rent paid for Rs 4,000 plus CGST and SGST @ 6% each.

iii) Depreciation on Machinery Rs 600. (3)

OR
Prepare a Trial Balance from the following balances as on 231st March, 2019:

Particulars Amt(Rs) Particulars Amount(Rs)

Capital 13,000 Bank Loan 4,200

Drawings 1,200 Carriage 200
Purchases 12,000 Debtors 5,500
Sales 24,000 Return inwards 350
Opening Stock 8,000 Bank charges 250
Creditors 5,000 Postage 120
Bills Payable 3,400 Printing 370
Furniture 1,200 Discount allowed 620
Free hold premises 6,000 Discount received 60
General expenses 1,500 Cash at bank 500
Wages 6,000 Cash in hand 50
Salary 3,500 Bills Receivable 2,300

17. Discuss the Going concern concept and also mention one value highlighted by this
concept. (4)
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 OR
Briefly explain the Accrual basis concept by giving an example. (4)
18. On 31st December, 2009, bank pass book of Taneja & Co. showed an overdraft of Rs 7,700.
On the basis of the following particulars, prepare a Bank Reconciliation Statement:

(i) Cheques issued before 31st December, 2009, but not yet presented for payment amounted to
Rs 3,500.

(ii) Cheques paid into the bank, but cheque amounting to Rs 2,600 has not been collected yet.

(iii) Interest on loan amounting to Rs 554 directly debited by the bank did not appear in the cash
Book.

(iv) Rs 4,800 directly deposited by the customer in the pass book, but not in the cash book. (4)
19. Differentiate between bills of exchange and promissory notes on the following basis:

a) Parties b) Acceptance c) Noting d) Payee (4)

20. B owed to A Rs.60, 000 on 1st January 2009. On the same date, A drew upon B a bill for the
amount at 2 months and B returned the bill duly accepted. A got the bill discounted at his bank @
15% p.a. Before the bill was due for payment, B told A that he was not able to pay the full amount
and requested A to accept Rs.20, 000 immediately and drew upon him another bill for the
remaining amount for 2 months together with interest @ 18% p.a. A agreed. The second bill was
duly met. Give the Journal entries in the books of A. (6)
OR
Rectify the following errors.
(a) Total of Returns Inward Book for December had been cast by Rs.1, 000 short
(b) Purchase of an office table costing Rs.3, 000 had been passed through the purchases book
(c) Rs.3, 750 paid for wages to workmen for making show cases had been charged to the Wages
Account.
(d) A credit purchase of Rs.670 had been posted to the Creditor’s Account as Rs.600. (6)
21. Record the following transactions in a suitable cash book and find out the cash and bank
balances.
(i) Commenced business with cash Rs.50, 000
(ii) Deposited into bank Rs.40, 000
(iii) Received cash from Mohan Rs.950
(iv) Bought goods for cash Rs.10, 000

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(v) Bought goods by cheque Rs.15, 000
(vi) Sold goods by cheque for Rs.20, 000 and deposited in bank on the same day
(vii) Paid to Arun by cheque Rs.1, 900, discount allowed by him Rs.100
(viii) Drew from bank for office use Rs.1, 000
(ix) Purchased goods from Ram & Co. Rs.20, 000 (6)
22. On 1st May 2011, Sohan Lal & Sons purchased a plant costing Rs.6, 00,000. Additional plant
was purchased on 1st July 2012 for Rs.2, 00,000. On 31st March 2013, it sold off the first plant
purchased in 2011 for Rs 3, 85,000 and on the same date purchased another plant for Rs 5,
00,000.
Prepare the Plant account for the first three years in the books of Sohan Lal & Sons.
Depreciation is charged @ 20% p.a on Straight Line method. Accounts are closed on 31 st
December each year. (8)
OR
Aryan purchased a machinery for Rs 84,000 on 1st August, 2015 and spent Rs 6,000 on its
installation. The company charges depreciation @20% p.a. on written down value method and
closes its books on 31st March every year. On 30th September 2018, the machinery was fully
destroyed by fire. Insurance company accepted a claim for Rs 35,000. Prepare machinery account
for three years. (8)

PART- B (Financial Accounting II)

23. For the financial year 2013-14, the gross profit was Rs. 1, 75,000. During the year carriage
inward Rs. 15,000, carriage outward Rs. 17,500 and bad debts for the year were Rs. 12,000
incurred. The net profit earned during the year 2013-14 would be:
(a) Rs.85, 000
(b) Rs. 1,45,500
(c) Rs. 64,500
(d) Rs.1,30,500 (1)
24. If bad debts appear in the trial balance, it will be shown
(a) On the debit side of Trading account
(b) On the debit side of Profit and loss account
(c) As deduction from debtors in the balance sheet
(d) Both (b) and (c) (1)

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25. Give one difference between hardware and software (1)
26. What do you mean by Automation of Accounting process? (1)
27. Explain any one limitation of computer. (1)
28. Write any one difference between manual accounting and computer accounting. (1)
29. Briefly explain any four capabilities of Computer system. (4)
30. Following is the extract of Trial balance as on 31st DECEMBER, 2018:

Particulars Dr.(Rs) Cr. (Rs)

Debtors 1,23,000
Bad Debts 2,000
Provision for Doubtful Debts 4,000
Additional information:

Further Bad debts amounted to Rs 3,000. Create provision for

Doubtful debts @ 10% on Debtors.
Show the above items in Profit and Loss A/C and Balance Sheet. (4)
st st
31. On 1 April 2012 X started a business with Rs.40, 000 as his capital. On 31 March 2013, his
position was as follows:
Creditors Rs.30, 000
Bills Payable Rs.10, 000
Bank Rs.10, 000
Debtors Rs.50, 000
Stock Rs.40, 000
Plant Rs.68, 000
Furniture Rs.12, 000
During the year 2012-2013 X drew Rs.24, 000. On 1st October, 2012, he introduced further
capital amounting to Rs.30, 000. You are required to ascertain profit or loss made by him during
the year 2012-2013. (6)
32. The following balances were extracted from the books of Shri Brijesh Chandra on 31 st March
2012.
Particulars Debit Particulars Credit
balances balances
Rs. Rs.
Drawings 2,000 Capital 24,500

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General expenses 2,500 Creditors 2,500
Buildings 11,000 Loan 7,880
Machinery 9,340 Sales 65,360
Stock 16,200 Bad debts provision 900
Power 2,240 Commission 1,320
Taxes and Insurance 1,315 Bills payable 3,850
Wages 7,200 Bank overdraft 3,300
Debtors 6,280
Charity 105
Bad Debts 550
Purchases 47,000
Scooter 2,000
Scooter expenses 1,800
Cash 80
1,09,610 1,09,610

Prepare Final accounts for the year ended 31st March 2012 after giving effect to the following
adjustments.
1. Stock on 31st March 2012 was Rs.23,500
2. Write off further bad debts of Rs.160 and maintain the provision for bad debts at 5% on
debtors.
3. Depreciate machinery at 10% and Scooter at 12%
4. Provide Rs.750 for outstanding interest on overdraft.
(OR) (8)
The following is the Trial Balance of Mr.S.Kapoor on 31st March 2012
Name of Accounts Debit
(Rs.) Credit(Rs.)
Cash in hand 1,080
Cash in bank 5,260
Purchases 81,350
Sales Account 1,97,560
Returns inward 1,360

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Returns outward 1,000
Wages 20,960
Fuel and Power 9,460
Carriage on sales 6,400
Carriage on purchases 4,080
Stock (1-4-2011) 11,520
Buildings 60,000
Freehold Land 20,000
Machinery 40,000
Salaries 30,000
Patents 15,000
General expenses 6,000
Insurance 1,200
Capital 1,42,000
Drawings 10,490
Sundry debtors 29,000
Sundry creditors 12,600
3,53,160 3,53,160

Taking into the account the following adjustments, prepare Trading and Profit and loss
account and the Balance sheet as on 31st March 2012
1. Stock in hand on 31st March 2012 was Rs.13,600
2. Machinery is to be depreciated @ 10% and Patents @ 20%
3. Salaries for the month of March 2012 amount to Rs.3,000 were unpaid
4. Insurance includes a premium of Rs.170 for the next year.
5. A provision for bad and doubtful debts is to be created to the extent of 5% on sundry
debtors.