HOLY CHILD PUBLIC SCHOOL
CLASS XI
SUBJECT: ACCOUNTANCY (055)
TIME: 3 hrs. MM: 80
INSTRUCTIONS:
All questions are compulsory.
Questions 1 to 20: 1 mark each
Questions 21 to 24: 3 marks each
Questions 25 to 30: 4 marks each
Questions 31 to 34: 6 marks each
1. Mr. Dinanath who owed us ₹50,000 became insolvent and paid only 40% of this amount. What is the
term used for the amount not received?
2. The entry which is passed for bringing forward the balances of personal and Real Account as shown in
the last year’s balance sheet is called –
3.Match the Following
Column A Column B
1. Building (a) Debit
2. Salary (b) Credit
3. Left side (c) Asset
4. Right side (d) Expense
5. Vouchers (e) Written document.
4. Who prepares a debit note- .
5.The basis of recording transactions is-
(a) Vouchers
(b) Profit
(c) Order form
(d) Quotation list.
6.Cash – book always show-
(a) Debit balance
(b) Credit balance
(c) Debit or Credit balance
(d) None of these.
7.The entry which affects cash and bank column of a triple column cash – book is known as –
(a) Compound entry
(b) Contra entry
(c) Journal entry
(d) None of these.
8.What statement is used while closing a Drawing Account-
(a) Balance c/d
(b) By Trading A/c
(c) By P & L A/c
(d) By Capital Account.
9.Credit purchase of furniture shall be recorded in-
(a) Purchase book
(b) Journal book
(c) Cash – book
(d) None of these.
10. The position of a businessman on 30th June 1994 was as follows Cash ₹5,000, Debtor ₹20,000,
Machinery ₹60,000, Stock ₹25,000, Capital ₹75,000. Calculate his liabilities.
11.Purchase account is always debited. ( true/false)
12.Bank reconciliation is not a?
(a) Reconcile records
(b) Memorandum statement
(c) Ledger account
(d) Procedure to provide cash book adjustments
13.Directly collections of bank are to be ___________ in cash book?
(a) Dr
(b) Cr
(c) both
(d) None
14. Mr. Jaspal Singh dealing in electronic goods sold 10 TV sets costing ₹30,000 each at ₹40,000 each.
Out of this ₹, 5,00,000 were received in cash and the balance is not yet received. State the amount of
revenue.
15.Which account will be debited in case wages are paid for installation of machinery?
(a) Machinery A/c
(b) Installation A/c
(c) Wages A/c
(d) Cash A/c
16.Imprest amount Rs.5,000. What will be the amount of re-imbursement if following expenses were
incurred by the petty cashier during the month — Wages = Rs. 1,450, Tiffin = Rs. 1,050, small Repairs =
Rs.500, General expenses = Rs.400.
(a) Rs. 1,600
(b) Rs.3,400
(c) Rs.3,050
(d) Rs.3,000
17.Goods worth Rs.7,000 given away as charity would be credited to :
(a) Sales A/c
(b) Purchases A/c
(c) Charity A/c
(d) Trustee A/c
18. Godrej Ltd. imported from Germany one machinery for sale in India and other machinery for
production purposes. Will you treat them goods or fixed assets?
19.M/s Future Ltd. has invested Rs. 10,000 in the shares of Relicam Industries Ltd. Current market value
of these shares is Rs. 10,500. Accountant of Future Ltd. wants to show Rs. 10,500 as value of investment
in the books of accounts, which accounting convention restricts him from doing so?
(a) Full disclosure
(b) Consistency
(c) Conservatism
(d) Materiality
20.The Trading and Profit and Loss Account is prepared under which attribute of accounting:
(a) Summarising
(b) Recording
(c) Classifying
(d) Analysis and Interpretation
21.From the following ledger balances prepare trial balance :
Capital Rs. 20,800, Rent outstanding Rs. 1,420, Amount due to Param, Rs. 15,000, Drawing Rs. 2,800,
Goodwill Rs. 12,000, Interest received Rs. 2,000, Discount received Rs. 1,580, Amount due from Deepan
Rs. 26,000.
22. On which side will the increase in the following account be recorded? Also, mention the nature of the
account: Cash, Proprietor’s Account, Machinery, Rent Received, Debtor, Salary Paid.
23. A company purchased goods for ₹5,00,000 and sold 80% of such goods during the year. The market
value of the remaining goods was ₹90,000. The company valued the closing stock at cost. Which
principle is being violated? Explain.
24. Calculate income of A for the year ended 31.03.2022 if he follows accrual bases of accounting:
Expenses paid 1,60,000 including 40,000 for 22-23.
Expenses payable for 2022 are 20,000.
Income received during the year 2022 is 2,40,000 including 30,000 for 22-23 and income
receivable for 2022 is 24,000.
25. Put the following on the proper side of Cash account, Debtor’s account and Creditor’s account.
1. Sold goods for cash ₹ 60,000
2. Sold goods to Hari on credit ₹ 20,000
3. Purchased goods from Krishan on credit ₹ 36,000
4. Purchased goods from Krishan for cash ₹ 10,000
5. Cash received from Hari ₹ 15,000
6. Cash paid to Krishan ₹ 28,000
26. Journalise
a) Sold goods to Dilip of the list price of ₹ 62,000 for ₹ 60,000.
b) Provide 9% interest on capital amounting to ₹ 2,00,000 for 6 months.
c) Out of Insurance premium paid this year, ₹ 15,000 is related to next year.
d) Outstanding wages paid 10,000.
27. What will be the effect of the following on the Accounting Equation?
a) Harish started business with cash ₹ 1,80,000 including 60,000 borrowed from bank.
b) Purchased goods for cash ₹ 60,000 and on credit ₹ 30,000
c) Sold goods for cash ₹ 40,000; costing ₹ 24,000
d) Rent paid ₹ 5,000; and rent outstanding ₹ 2,000
e) Sold goods on credit ₹ 50,000 (costing ₹ 38,000)
f) Salary paid 4,000 including 1000 in advance.
28.Prepare Returns Inward and Returns Outward Books from the following in the books of Modern
Shoes, Kolkata (West Bengal) assuming CGST @ 6% and SGST @ 6% :-
2018
Jan-03 Returned to Bata Shoe Co., Kolkata
50 pairs of Chappals being not up to the approved sample @ Rs. 600 per pair
Less: Trade Discount 20%
10 Guru Nanak & Co., Kolkata, returned to us :-
10 pairs of Shoes, for being defective @ Rs. 1,200 per pair
Less: Trade Discount 10%
15 Returned to Baluja Shoe Co., Kolkata
20 pairs of ladies chappals @ Rs. 500 per pair
Less: 15%
22 Partap Footwear Co., Patna (Bihar), returned to us :-
50 pairs of Shoes @ Rs. 1,400 per pair
Less: 5%
27 Manoj Shoe Co., Kolkata, returned to us :-
20 pairs of Sandals @ Rs. 1,000 per pair
31 Returned to Liberty Shoe Co., Ranchi (Jharkhand) defective shoes worth Rs. 5,000.
29.Record the following transactions in the books of Sahdev & Sons assuming all transactions have been
entered within the state of Bihar, Charging CGST and SGST @ 9% each.
Particulars
1. Bought goods from ram for Rs. 2,00,000 at 10% trade discount and 3% cash discount on the purchase price.
25% of the amount paid at the time of purchase.
2. Sold goods to shyam for Rs. 1,00,000 at 20% trade discount and 5% cash discount on sale price. 60% of the
amount received by Cheque.
3. Received from mohan Rs. 38,000 by Cheque after deducting 5% cash discount.
4. Paid Rs. 20,000 for rent by Cheque.
30. Differentiate between cash bases and mercantile bases of accounts.
31. From the following particulars of a trader, prepare a Bank Reconciliation Statement as on 31st March,
2022.
(i) Bank overdraft as per Cash Book `52,100.
(ii) During the month, the total amount of cheques for `94,400 were deposited into the bank but of these,
one cheque for `11,160 has been entered into the Pass Book on 5th April.
(iii) During the month, cheques for `89,580 were drawn in favour of creditors. Of them, one creditor
for `38,580 encashed his cheque on 7th April whereas another for `4,320 have not yet been encashed.
(iv) As per instructions the bank on 28th March paid out `10,500 to a creditor but by mistake, the same
has not been entered in the Cash Book.
(v) According to agreement, on 25th March, a debtor deposited directly into the bank `9,000 but the same
has not been recorded in the Cash Book.
(vi) In the month of March, the bank without any intimation, debited his account for `120 as bank charges
and credited the same for `180 as interest.
(vii) Cash deposit of `5,780 in bank was recorded as `7,580. The error was rectified by the Bank before
31st March, 2022.
32 Journalise:
a) Purchased a Machinery for ₹ 1,00,000 and the payment was made by issuing a cheque from
Proprietor’s saving bank account.
b) Received an order from Chakravarti for goods of ₹ 4,00,000 along with a cheque of 10% of the
order as advance.
c) Manoj pays us ₹ 5,400 after deducting 10% for prompt payment.
d) Sold goods to Gaurav costing ₹ 1,00,000 at a profit of 40% and allowed him 10% trade discount
and paid for cartage ₹ 3,000 not to be charged from him.
e) Paid by cheque ₹ 8,400 as insurance premium for a period of 12 months starting 1st August 2016.
Financial year closes on 31st March every year.
f) Sold goods to Z for ₹ 10,000 at a trade discount of 20%. Next day a cheque was received from
him after deducting 5% cash discount. Cheque was immediately deposited into Bank.
g) Purchased goods for ₹ 50,000 from Govind and sold it to Manohar for ₹ 65,000.
h) Manohar returned goods of the value 13000 and it was returned to Govind.
33. Form the above prepare ledger of
a) Sales a/c
b) Sales return a/c
c) Bank a/c
d) Govind a/c
34. From the following particulars, prepare Double Column Cash Book of Mr. Patel for the month
of March 2018:
March 1 Balance on hand Rs 50
March 5 Balance at Bank (Overdrawn) 400
March 9 Cash Sales for Rs 600 plus CGST and SGST @ 6%p.a.
March 15 Paid for purchase of Machinery by a Crossed Cheque Rs 1,000
March 19 Paid Wages for erection of above machinery Rs 40
March 23 Received crossed Cheque from Mr. Amin in full settlement of Rs 500, Rs 400
March 27 Issued an open Cheque to Shri Fulabhai on account Rs 400
March 28 Withdrew from bank for office us Rs 500
March 29 Cheque received from Mr. Amin endorsed to Sri Dadubhai in full Settlement of Rs 520
March30 Cheque issued to Shri Dadubhai dishonoured
March 31 Deposited into bank the balance of cash in of excess Rs 80
