Chirag Tuition Center, Sarita Vihar, New Delhi
Class 11 Accountancy Mock Test
Max Marks: 100 Exam Duration: 3.5 Hours
Multiple Choice Questions (20 marks)
(10 × 2 marks each)
1. Capital is classified as:
a) Internal liability b) External liability c) Both internal and external liability d) None of
these
2. Amount taken by proprietor from business for personal use is recorded as:
a) Sale b) Drawings c) Purchase d) None of these
3. In accrual basis of accounting, expenses are recorded:
a) When paid b) When incurred c) When recorded in cash book d) None of these
4. Assertion (A): A transaction may be either cash or credit.
Reason (R): Transactions are recorded only when cash changes hands.
Options:
a) Both A and R true, R is correct explanation
b) Both A and R true, R is not correct explanation
c) A true, R false
d) Both A and R false
5. Assertion (A): The journal is called the book of original entry.
Reason (R): The ledger contains all individual accounts.
Options:
a) Both A and R true, R is correct explanation
b) Both A and R true, R is not correct explanation
c) A true, R false
d) Both A and R false
6. Which of the following will NOT affect the trial balance?
a) Error of omission b) Error of commission c) Error of principle d) Error of original entry
7. Which account is debited when goods are given as charity?
a) Sales Account b) Drawings Account c) Purchases Account d) Cash Account
8. Business entity concept implies:
a) Business transactions and personal transactions are recorded together
b) Business transactions recorded separately from personal transactions
c) Proprietor is not part of business
d) Only credit transactions are recorded
9. Bank overdraft is classified as:
a) Current Asset b) Current Liability c) Long-term liability d) Capital
10. Which of these is a fundamental accounting assumption?
a) Conservatism b) Going Concern c) Matching d) Prudence
Numerical Questions (80 marks)
Journal (2 × 5 marks = 10 marks)
1. Pass journal entries for the following:
- Business started with cash ₹1,50,000 and furniture ₹70,000.
- Purchased goods worth ₹50,000 from Mohan.
- Sold goods to Ramesh ₹30,000, ₹10,000 received in cash, balance on credit.
- Paid salary ₹5,000 by cheque.
- Goods worth ₹2,000 given as charity.
2. Record compound journal entries for:
- Purchased goods worth ₹40,000 at 10% trade discount and 2% cash discount, payment
made immediately by cheque.
- Sold goods worth ₹25,000 at 4% trade discount and 5% cash discount, half amount received
in cash.
- Received commission ₹6,000 by cheque, half of which is in advance.
- Paid rent ₹4,500 and electricity ₹1,000 by cheque.
- Received ₹5,000 from a debtor with a discount allowed of ₹200.
Ledger (2 × 5 marks = 10 marks)
3. Ledger accounts to prepare:
- Mohan
- Ramesh
- Salary Account
- Commission Account
- Drawings Account
4. Post the following journal entries to ledger accounts:
- Cash sales ₹15,000.
- Paid bills ₹9,000 by cheque.
- Sold goods to Ajay ₹20,000, received ₹5,000 by cheque.
- Paid rent ₹2,500 and carriage ₹1,500 in cash.
- Purchased furniture ₹10,000 on credit.
Accounting Equation (5 marks)
5. Explain the effect on accounting equation for the following:
- Started business with cash ₹80,000.
- Purchased goods worth ₹20,000 on credit.
- Sold goods costing ₹12,000 for ₹15,000 cash.
- Paid salaries ₹3,000.
- Owner withdrew goods worth ₹1,000 for personal use.
Cash Book (5 marks)
6. Prepare a double column cash book from:
- Opening cash ₹3,000 and bank balance ₹4,000.
- Cash sales ₹5,000.
- Paid rent ₹2,000 by cheque.
- Deposited ₹3,000 cash into bank.
- Paid wages ₹1,000 in cash.
Purchase/Sales/Purchase Return/Sales Return book (5 marks)
7. Record the following transactions:
- Purchased goods from Rahul ₹20,000.
- Sold goods to Aman ₹15,000.
- Returned goods to Rahul ₹2,000.
- Goods returned by Aman ₹1,000.
- Purchased goods for cash ₹5,000.
Trial Balance (2 × 5 marks = 10 marks)
8. Prepare trial balance from the balances given:
- Cash ₹6,000, Purchases ₹25,000, Capital ₹40,000, Sales ₹50,000, Rent ₹2,500, Creditors
₹18,000.
9. Rectify errors and prepare corrected trial balance:
- Purchases of ₹2,000 omitted.
- Wages ₹400 debited to Repairs Account.
- Sales overcast by ₹3,000.
- Rent paid ₹500 posted twice.
Theory Questions (Total 4 marks)
10. Explain four accounting concepts with examples.
11. Naren’s financial data for the year ended 31st March, 2025 are:
Expenses paid ₹1,80,000; Expenses paid in advance ₹20,000; Expenses outstanding ₹10,000
Income received ₹2,40,000; Income received in advance ₹15,000; Income not yet received
₹12,000
Compute net income for Naren based on:
(i) Cash Basis
(ii) Accrual Basis.
12. Differentiate between cash basis and accrual basis of accounting (4 points).
13. If the balances at the start are:
Cash in Hand ₹60,000
Bank ₹40,000
Stock ₹1,50,000
Furniture ₹43,000
Debtors ₹1,45,000
Creditors ₹52,500
Loan ₹60,000
Pass The opening entry.
Short Answer Questions (7 × 3 marks = 21 marks)
Q16. What is the correct accounting treatment for goods taken by the proprietor for personal
use? Explain with journal entry.
Q17. Vijay reported a profit of ₹1,00,000 including ₹10,000 anticipated profit on future sale of a
car and ₹2,000 salary payable but not accounted. Calculate the correct profit.
Q18. Mohan had cash sales ₹90,000, credit sales ₹60,000, and expenses ₹70,000 (₹30,000
unpaid). Calculate income under Cash Basis and Accrual Basis of Accounting.
Q19. Show the effect of the following transactions on the accounting equation: started business
with cash ₹50,000; purchased furniture ₹500; paid salary ₹200; sold goods costing ₹500 on
credit for ₹700.
Q20. Pass journal entries for purchase of goods from vendor ₹10,000 with 10% trade discount
and 2% cash discount paid immediately.
Q21. Prepare a correct Trial Balance from the following: Opening Stock ₹1,02,600; Debtors
₹45,000; Creditors ₹84,000; Capital ₹1,65,600; Purchases ₹3,00,000; Sales ₹4,20,000; and
Expenses ₹60,000.
Q22. Prepare a Purchases Book from the following transactions: Purchase of 100 pieces of
cloth @ ₹800 each with 10% trade discount; purchase of 50 pieces of shirting @ ₹500 each with
5% trade discount.
