XTA STUDENT ID

No. of pages - 24 AkSah

(E)
MID-TERM EXAMINATION (2024-25)
CLASS : XI
SUBJECT: ACCOUNTANCY (055)
TimeAllowed : 3hours Maximum Marks : 80
HHU: 3 rfyahu h - 80

1.

3.

6.

General Instructions:
1 This question paper contains 34 questions. All guestions are compulsory.
2. Ouestion nos. Ito 20 carry Imark each.
3 Question nos. 21 to 26 carry 3 marks each.
4 Question nos. 27 to 29 carry 4 marks each.
Question nos. 30 to 34 carry 6 marks each.
7 There is no overallchoice. However, an internal choice has been
provided in 7questions
of l mark, 2 questions of 3 marks, Iquestion of 4marks and 2 questions of 6 mnarks.

XI-ACCOUNTANCY-E
1. Which of the following is not recorded in books of account? 1

(a) Purchase of goods (b) Qualityof staff

(c) Payment of salary (d) Sale of goods
2. Which of the following is/are the limitations of accounting? 1

(i) Maintain systematic recordof business transactions.

(ii) Ascertain false financial position of business.
(i1i) Ignore qualitative clements
(a) Only (i) (b) Only (iii)
(c) Both (i) and (ii) (d) (i), (ii) and (iii)
3. Use of common unit of measurement and common format of reporting promotes 1

(a) Comparability (b) Understandability

(c) Relevance (d) Reliability
OR

Which qualitative characteristic of accounting Information is present when accounting

information gives trust and confidence that reported information & based on facts?
(a) Understandability (b) Relevance

(c) Reliability (d) Comparability

4 Match the following:
Column-1 Column-2

A. Capital Expenditure 1. Non-recurring profit from event

B. Revenue Expenditure 2. Expenses Minus Revenue
C. Gain 3. Benefit received for more than one year
D. Loss 4. Benefit received within one year

(a) A-1, B-2,C-3, D-4 (b) A-2, B-3, C-4, D-1

(c) A-3, B-4, C-1, D-2 (d) A-4, B-1,C-2, D-3
3 XI-ACCOUNTANCY-E
 decreased by
5. For which of the following transaction capital account will. be increased and
1
the same amount in accounting equation?

(a) Income received in advance (b) Prepaid expenses paid

(c) Bad debts on insolvency of debtor (d) Interest on drawings provided

1
6. Which of the following items are regarded as Goods -

() Machinery purchased by Ravi for manufacturing

(ii) Machinery purchased by Rohit adealer of machinery for sale

(iü) Funiture purchased by Paul a grocery owner

(iv) Furniture purchased by Raman a dealer of furniture

(a) Only (i) and (iv) (b) Only (i)and (iv)

(c) Only (i) and (iii) (d) Only (ii) and (iii)
OR

Purchase refers to the buying of

(i) Stationery for office use

(i) Assets for the factory

(iii) Goods for resale

(iv) Investment

(a) Only (ii) (b) Only (i)

(c) Both (i)) and (ii) (d) (i), (ii)and (iii)

XI-ACCOUNTANCY-E
 What will be the journal entry if salaries of Rs. 20,000are unpaid? 1
7.

(a) Outstanding Salaries Ale Dr. 20,000

To Salaries A/e 20,000

(b) Salaries A/e Dr. 20,000

ToOutstanding Salaries A/c 20,000

(c) Salaries A/e Dr. 20,000

To Cash Alc 20,000

(d) Cash A/e Dr. 20,000

To Salaries A/c 20,000

OR

Cash withdrawn by proprietor should be credited to

(a) Drawings A/c (b) CapitalA/c
(c) Profit and Loss A/c (d) Cash A/c

8. Assertion (A): Book keeping involves summarizing the classified transactions in the
form of profit and loss A/c and Balance Sheet. 1

Reason (R): Book keeping is the art of recording in books of accounts, the monetary
aspect of commercial or financial transactions.

(a) Both Assertion (A) and Reason (R) are correct and Reason (R) is the correct
explanation of Assertion (A).

(b) Both Assertion (A) and Reason (R) are correct but Reason (R) is not the correct
explanation of Assertion (A).

(c) Assertion (A)& incorrect but Reason (R) correct

(d) Assertion (A) & Correct but Reason (R) is incorrect.

7 XI-ACCOUNTANCY-E
9. Rohan, a trader sells goods on credit and prepares which contains the names of

the parties towhom the goods are sold, the rate, quantity and the total amount of sale.
(a) Cash Memo (b) Invoice

(c) Debit Note (d) Receipt

10. Current Assets include :

(i) Debtor

(ii) Prepaid Expense

(i) Outstanding Salary

(iv) Cash

(a) (i),(ii) and (iii) (b) (ii). (iii) and (iv)

(c) ), (ii) and (iv) (d) (i),(ii) and (iv)

11. Unexpired/Prepaid expense is 1

(a) Real A/c (b) Nominal A/c

(c) Personal Alc (d) Liability Alc

OR

For recording of Bad Debts isprepared.

(a) Debit Voucher (b) Transfer Voucher

(c) Credit oucher (d) Invoice

Read the following hypothetical information and answer Q.No.12 and Q.No. 13.
Sheela is the owner ofa trading firm with a capital of Rs. 5,00,000. During the year 2024
she sold goods to Anika at the list price of Rs. 2,00,000 less 20% trade discount and 2%
cash discount and she receive S0% by cheque. She took goods costing Rs. 50,000from
stock for her own use. The normal selling price of goods is Rs. 75,000.

9 XI-ACCOUNTANCY-E
12. Amount received from Anika by cheque is: 1

(a) Rs. 1,00,000 (b) Rs. 78,400

(c) Rs. 80,000 (d) Rs. 98,000

13. Which of the following is correct entry to record goods taken by Sheela for her
OWn use?

(a) Dr. Drawings A/c and Cr. Purchases A/c by A/cRs. 50,000

(b) Dr. Drawings A/c and Cr. Sales Alc by Alc Rs. 75,000
(c) Dr. Drawings A/c and Cr.Purchases A/c by AlcRs. 75,000
(d) Dr. Sales Alc and Cr. Drawings Alc by Alc Rs. 50,000
14. StatementI:Cash Column in the Cash Book Cannot have a credit balance. 1

Statement II : Bank Overdraft is a liability.

(a) Only Statenment I is true. (b) Only Statement II is true.

(c) Both statements are true. (d) Both statements are false.

15. Petty Cash book balance is 1

(a) aprofit (b) an expense

(c) an asset (d) a liability

16. Periodic total of Purchase Book is posted to

(a) Individual Supplier A/c (b) Individual Customer A/c

(c) Credit side of Purchase A/c (d) Debit Side of Purchase A/e

XI-ACCOUNTANCY-E
17. Assertion (A): Non-Current liabilities are those liabilities which are payable after a
1
periodof12 months from the end of the financial year.
Reason (R): Current liabilities are those liabilities which are payable within a period of

12months from theend of the financial year.

(a) Both Assertion (A) and Reason (R) are correct and Reason (R) & the correct
explanation of Assertion (A).

(b) Both Assertion (A) and Reason (R) are correct bat Reason (R) & not the correct
explanation of Assertion (A).

(c) Assertion (A) & incorrect but Reason (R) correct

(d) Assertion (A) & Correct but Reason (R) is incorrect.

Which of the following statement is NOT true? 1

18.

(a) Vouchers are prepared with the help of supporting documents.

(b) Cash memo, invoice are the examples of supporting documents.

(c) Debit note and credit note are not the examples of supporting documents.

(d) To record credit transactions a transfer voucher is prepared.

OR

A document issued when cash is received from the customer is

(a) Receipt (b) Cash memo

(c) Cheque (d) Pay-in-slip

1
19. Goodwill Alc is a
Natural Personal Alc (b) Real A/c
(a)

(c) Nominal A/c (d) Representative PersonalA/c

13 XI-ACCOUNTANCY-E
 OR

GST is a/an

Direct Tax (b) Indirect Tax

(a)
Wealth Tax (d) (a) and (b) both
(c)
1
20. ABank Reconciliation Statement is prepared by

(b) Account holder in a bank

(a) Bank

(c) Creditor (d) Supplier

OR

got dishonoured due to

A chequeisdeposited and entered in the cash book by firm but it
insufficient balance. Reason for difference in bank balance as per cash book and pass
book could be

(a) Cheque entry in pass book but not in cash book.

(b) Cheque entry in cash book but not in pass book.

(c) Cheque entry in both pass book and cash book.

(d) (a) and (c) both

3
21. Write any three limitation of accounting.
OR

Write any three objective of accounting.

On which side will the decrease in the following accounts be recorded? 3
22.

Reena (proprietor) (ii) Bank Overdratt

(i)

(ii) Interest Paid (iv) Wages

(v) Outstanding Rent (vi) Prepaid Insurance

15 X-ACCOUNTANCY-E
 OR

Classify the following into asscts, liabilities,capital, revenue and expenses:

() Outstanding Salary (ii) Inventory

(iii) Depreciation (iv) Sales

(v) Bills payable (vi) Bad Debts

3
23. Explain the following terms with example:
(i) Non-Current Assets

(ii) Voucher
3
24. Write any the advantages of Goods and Service Tax.

25. Open a T shape account of machinery and put the following transactions on the
proper side : 3

(i) Machinery purchased on cash Rs. 30,000

(ii) Machinery sold Rs. 10,000

(iii) Machinery purchased on credit Rs. 20,000

(iv) Machine sold on credit Rs. 14,000

(v) Depreciation on machinery Rs. 5,000

3
26. Give an example for each of the following transactions :

()) Decrease in assets and decrease in liability simultaneously.

(ii) Increase in liability and decrease in owner's capital simultaneously.

(iii) Decrease in assets and decrease in owner's capital simultaneously.

4
27. Prepareaccounting equation from the following
(i) Rohan commenced business with cash Rs. 50,000 and Goods Rs. 30,000

(11) Purchasedgoods on credit Rs. 30,000

(iii) Sold40% goods at a profit of 25% to Mohan for cash

Commission received in advance Rs. 5,000
(iv)
17 XI-ACCOUNTANCY-E
 OR

Sunita started business on 1" April, 2023 with a Capital of Rs. 7,50,000 and a loan of Rs.
2,00,000 taken from Punjab National Bank. Shefurther introduced Rs. 1,25,000 and had
withdrawn Rs. 5,000 per month for personal purpose. On 31" March 2024, her assets
were Rs. 15,00,000. Calculate her closing capital and profits at the end of the year.
28. Distinguish between cash basis of accounting and accrual basis of accounting on the
basis of nature, technical knowledge, reliability and acceptability. 4

29. Prepare accounting vouchers to be recorded in the books of M/s Decent Garments,
Delhi: 4

2024

April 10 Sold shirts for cash vide Cash memo No. 156Rs. 8,000

April 24 Withdrew from bank for office use by Cheque No. 53101 - Rs. 15,000

30. Explain the following accounting concepts : 6

(i) Accounting period concept

(i) Cost concept

(iii) Dual aspect (or Duality) concept

31. Journalise the following transactions in the books of Nikasi Enterprises. Delhi: 6

(i) Soldhousehold furniture for Rs. 10,000. The proceeds were invested into business.

(ii) Goods costing Rs. 5,000 were taken by the proprietor for personal use.

(iii) Paid salaries tostaff for themonth Rs. 50,000 bycheque.

(iv) Received Rs. 22,000 from Bharat in full settlement of his account for Rs. 26,000
(v) Interest due but not received Rs, 4,000.

(V1) Goods Costing Rs. 3,000 were destroyed by fire.

19 XI-ACCOUNTANCY-E
32. Record the following transactions in a two column Cash Book of Kunal Kapoor : 6

2024

July 1 Balance of Cash in hand Rs. 1,200

Overdraft at bank Rs. 15,00
July 3 Sold goods to Ramesh for Rs. 25,000 on credit
July 11 Cheque received from Ramesh Rs. 24,750 in full settlement of his account
Rs.25,000, cheque deposited in bank on the next day.
July 18 Withdrew from bank for personal use Rs. 4,000
July 21 Sale of old furniture for Rs. 1,700, payment received in cash

July 28 Sanjeev, who owed Rs. 6,000become bankrupt & paid 60 paise in a rupee
July 31 Cash paid to Rakesh Rs. 4,800.
33. Record the following transactions in the purchase book and purchases return book of
Goyal Electronics : 6

2024

Aug 05 Purchased from M/s Sargam Electronics, Delhi

(Invoice No3480)
20Television (@ Rs. 35,000 each
08 Home Theatre (@ Rs. 10,000 each

Trade Discount@10%
Aug. 09 02 Television found defective and returned to

M/s Sargam Electronics(Debit Note No. 510)

Aug 11 Bought from Arnav Traders, Haryana
10refrigerator @ Rs. 21,000 cach
06 Washing Machines @ Rs. 13,000 each
Trade discount (a@ 10%
OR

21 XI-ACCOUNTANCY-E
 Answer the following questions :
(a) How Trade discount is recorded in the books of account?
(b) Distinguish between Trade discount and Cash discount? (any two)

(c) Explain "Impest system of Petty Cash Book"?

March, 2024 from the following
34. Prepare Bank Reconciliation Statement on 31st 6
information:
31 March, 2024.
() The passbook showed an overdraft of Rs. 33.670 on
but not cleared till date Rs. 8000 and
(ii) Cheques drawn in last week of March. 2024
Rs. 3500.

customer Rs. 4600 into bank but not entered

in
(111) Received a payment directly from
Cash book.

amount to Rs. 16950 but cheques of Rs.

(iv) Cheques paid into bank for collection
4500 credit on April 3, 2024.
and-credited in the passbook. Rs. 1200 but
(v) Interest on investment credited by bank
not entered in cash book.

not been entered in Cash Book.

(vi) Rs. 800insurance premium paid by bank has
OR

Statement from the bank balance of cash book.

While preparing Bank Reconciliation
or minus column?
where will you record the following items in plus

(i) Cheques issued but not presented for payment

Cheques recorded in cash book but not deposited

into bank
(ii)
cash book
(iii) Interest and dividend collected by the bank not recorded in

(iv) Cheques issued but not recorded in cash book

(v) Overcasting error in payment side of cash book
book
(vi) Directpayments by thebank oncustomer behalf' not entered in cash

23 XI-ACCOUNTANCY-E