unit-l|
K-100 PRE-BOARD I, 2024-25
SET-B
CLASS-XI
SUBJECT -ACCOUNTANCY
Time:2hr M.M:50
General Instructions -
Allquestions are compulsory.
Questions l to S carry one mark each.
Questions number 9 to 12 carry 3marks cach.
Questions number 13 to 15 cary 4 marks each.
Questions number 16 to 18 cary 6 marks cach.
QN.Accued income is:
(A)A Liability (B) Revenue
IC) An Asset (D) An Expense
2.If closing stock appears in Trial Balance then it will be appearing in:
(A)Trading Account (B) Balance Sheet
(C) Profit & Loss Account (D) Trading Ac & Balance Sheet
A3. Types of Account shown in Balance Sheet are:
(A) Nominal and Personal B) Real snd Nominal
(C) Real and Personal D) Real, Nomìnal and Personal
A4. Credit sales to Shyam 5,000 were recorded in purchases book as 500.
In rectifying entry Shyam's Acwill be:
(A) Debited by 4,500 (B) Credited by 74,500
C) Debited by 75,500 (D) Credited by 5,S00
S.Capital reserve is created out of:
(A) Proits on sale of fîxed assets (B) Proits on revauation of âxed asses
(C) Premium received on issue of shares (D) All of the above
Q6. Assertion (A):
Balance Sheet is a summary of Personal and Real Accounts which are sill open
and have not been closed by transfer to Trading and Proft & Loss A.
Reason (R)Profit and Loss Account shows the financial position of the enterise.
Which one of the following is corect?
Codes:
(A)Both (A) and (R) are true and (R) is the comect explanation ef(AN
(B)Both (A) and (R) are true but (R) is not the corect explanation ot (A)
(C)(A) is true, but (R) is false.
(D)(A) is false, but (R) is true.
91. Which of the following is not a part of financial statements?
(A) Trading account. (B) Proñt and lss a n t
(C) Balance Sheet. (D) Trial Balanxe
g8. Cost of goods sold are I,50,000; closing stuck 40,00, opening strk to,00
Amount of purchase will be:
(A) 1,30,000 (B) 1,70,000
(C) ¿50,000 (D) None of these
ofit
and write any four features
Define the term 'Reserves" between single entry and double entry system.
y fdifterence
points of?
Q10. State any 4 Revenue and Deferred Revenue expenditure,
oClassify the following nto Capital,
case:
cach
stating reasons in
Total cxpenditure on a cinema building during the year was 2,00,000
(a)
represented improvements and additions.
out of which 20% related to repairs and 80%
employment.
(b) Compensation paid to a retrenched employce for the loss of
repairing of thís furniture
(c) Second-hand furniture worth 740,000 was purchased and
wages for this being
cost 15,000.The furniture was installed by ownworkmen-
5,000.
10,000 was paid to him
(d) Aperson was injured by the motor car of the company.
by way of compensation.
(e) Advertisement expenditure in special advertisement drive.
QY2. Caiculae Closing Stock and Cost of Goods Sold:
Returns Z1,000;
Opening Stock 5,000; Sales 16,000; Carriage Inwards 1,000; Sales
Gross Profit 26,000; Purchase 10,000; Purchase Returns 7900.
books provide the
Q3. Shruti maintains her books of accounts from Incomplete Records. Her
following information:
Particulars 1-4-2022() 31-3-2023()
Cash 12000. 16000
24000
BR
Debtors 168000 272000
224000 244000
Stock
Investment
80000
75000 80000
Furniture
140000. 152000
Creditors
She withdrew Z1,000per week for personal expenses. She sold her investments of
1,60,000 at 2% premium and introduced that amount into business.
You are required to prepare a statement of profit or loss for the year ending March 31, 2023.
EXTRACTS OF TRIAL BALANCE
as at 31st March, 2020
Particulars Dr.() Cr(3)
Bad Debts 3600
Provision for Bad & Doubtful Debts(1-4-2019) 7500
Sundry Debtors {200000
2
Adjustments:
1. Wite ot frther Bad debts 2,000,
2. Provisiom for DoubtfiulDebts is to be maintainedat 5% on Sundry Debtors
3. Cheate a provision for discount on Sundry Debtors at 3%.
Show effect on Proit &Loss ACcount and Balance Sheet.
QsIammu Carpets Ltd. purchased amachine for 8,00,00 on Ist April, 2013. Further
additions were made on lst October 2018 for 25,00,000. On Ist January, 2021,Ist machine
was sold for 5,90,000 and on the same date a new machine was purchased for 4,00,000
Depreciation is to be charged @ 10% p.a. on straight-line basis.
Youare required to answer the following questions:
1. Book Value of Machinery on the date of sale was:
(A) 6,40,000 (B) 5,60,000
(C) ES,80,000 (D) E5,90,000
2. Loss/Gain on sale of machinery was:
(A) Loss 10,000 (B) Gain 10,000
(C) Loss S0,000 D) Gain 30,000
3. Amortisation refers to writing off.
(A) Depleting Assets (B) Wasting Assets
(C) Intangible Assets (D) Fictitious Assets
4. Balance of Machinery Account on 31st March 2021 was:
(A) 77,65,000 (B) 3,75,000
(C) 3,90,000 (D) 7,35,000
Qi6. Rectify the following errors:
(a) Goods for 5,500 were purchased from Modern Traders on credit, but no entry has
yet been passed in the books.
(b) Purchase Return for 1,500 not recorded in the books.
(C) Goods for 2000 sold to 'Geeta Traders' on Credit were entered in the Sales book
as 200 only.
(a) Goods purchased for &1800, returmed by Sunil &Co. were included in the inventory,
but no entry was passed in the books.
(e) Goods purchased for 2900, entered in purchases book as 29000.
() An invoice for goods sold to Xwäs overcast by R100.
3
Q7. Ashoka Lid. bought amachine on Ist April, 2020 for 2,40,000 nnd spent 4,000 on its
Carriage and 6,000 towards installation cost, On lst July, 2021 purchased asecond hand
machinery for &75,000 and spent 25,000 on its overhauling, On Ist January, 2023 it decided
to sellthe machinery bought on Ist April, 2020 at a loss of 220,000, It bought
another machine
on the sanne date for {40,000, Company decided to charge
depreciation (@ 15% p.a. on written
down value method.
Prepare machinery account for 3 years.Books are closed each ycar on 31st
March.
QJFrom the following Trial Balance of M/s Arjun and Sons as at 31st Dec. 2022
Prepare Trading &Profit and Loss Account and Balance Sheet.
Name ofAccounts
Dr.) Cr()
Drawing and capital Z18000 780000
Furchase &Sales Z155000
Stock(1.1.2022)
8240ets2,60o
Z42000
keturn Outward 1600
JCarriage Inward 71200
Wages Z4000
Hower 6000
Machinery S0000
Furniture Z14000so
Rent Z22000
Salary 15000
Dsurance 3600
8% Bank Loan (25000
Debtors 20600
Creditors 18900
1500T12o
Cash in hand
280500 280500
Adjustments :
1.Closing stock Z64000
2.Wages outstanding *2400
3. Bad debts 600 &provision for bad &doubtful debts to be 5% on debtors. Y06 1030
4. Rent is paid for 11 months.
5. Loan from bank was taken on 1st July 2022
6. Provide deprecation on machinery @10% p.a.
7. Provide Manager's commission at 10% on net profit after chargingsuch commission.
