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 Page 1


  
 
CBSE XI  |  Accountancy 
Sample Paper – 3 
 
     
CBSE 
Class XI Accountancy 
Sample Paper – 3  
Solutions 
 
 
Answer 1 
Accounting is an Art as well as a Science. 
 
Answer 2 
A seller prepares cash memo when goods are sold against cash. Cash memo contains details of goods sold, 
quantity and rate of each item. 
 
Answer: 3 
According to the Business Entity Concept, business is a separate and distinct entity from its owner. That is 
why capital is treated as a liability and rules of debit and credit for liability and capital are same. 
 
Answer 4 
Posting is a process of transferring entries from Journal to the Ledger Account. 
 
Answer 5 
Objectives of Book-keeping: 
i. Knowledge of Sale and Purchase of Goods: With the help of account books, a record of total sales and 
purchases during a particular period can be maintained.  
ii. Knowledge of Income and Expenses: The record of various incomes and expenses is kept in such a way 
that the net profit or loss during a particular period can be readily ascertained.  
iii. Record of Assets and Liabilities: Another objective of book-keeping is to keep records of various assets and 
liabilities in such a way that the financial position of the business at the end of the accounting period may 
be determined. 
 
Answer 6  
i. Suresh Dr.2,000 and Ramesh Cr.2,000 
ii. Purchase Dr.300 and Suspense Cr.300. 
iii. Sales Return Dr.500 and Suspense Cr.500. 
 
Answer 7 
Trade Discount Vs Cash Discount 
Trade Discount Cash Discount 
i. It is allowed when a certain quantity is 
Purchased. 
It is allowed when payment is made within 
certain period. 
ii. It is allowed to increase the sales. It is allowed to get prompt payment from 
customer. 
iii. It is deducted from the invoice itself. It is not deducted from the invoice. 
iv. It is not recorded in the books of accounts 
or ledger accounts. 
Cash discount allowed and received both are 
recorded in their ledger accounts. 
 
Answer 8 
Revenue Recognition: According to this principle income is treated as being earned on the date on which it is 
realized, i.e., the date on which goods or services are transferred to the customers. Since this exchange of 
goods or services may be for cash or on credit, it is not important whether cash has actually been received or 
not. Verifiable Objective: This principle justifies the significance of verifiable documents supporting various 
Page 2


  
 
CBSE XI  |  Accountancy 
Sample Paper – 3 
 
     
CBSE 
Class XI Accountancy 
Sample Paper – 3  
Solutions 
 
 
Answer 1 
Accounting is an Art as well as a Science. 
 
Answer 2 
A seller prepares cash memo when goods are sold against cash. Cash memo contains details of goods sold, 
quantity and rate of each item. 
 
Answer: 3 
According to the Business Entity Concept, business is a separate and distinct entity from its owner. That is 
why capital is treated as a liability and rules of debit and credit for liability and capital are same. 
 
Answer 4 
Posting is a process of transferring entries from Journal to the Ledger Account. 
 
Answer 5 
Objectives of Book-keeping: 
i. Knowledge of Sale and Purchase of Goods: With the help of account books, a record of total sales and 
purchases during a particular period can be maintained.  
ii. Knowledge of Income and Expenses: The record of various incomes and expenses is kept in such a way 
that the net profit or loss during a particular period can be readily ascertained.  
iii. Record of Assets and Liabilities: Another objective of book-keeping is to keep records of various assets and 
liabilities in such a way that the financial position of the business at the end of the accounting period may 
be determined. 
 
Answer 6  
i. Suresh Dr.2,000 and Ramesh Cr.2,000 
ii. Purchase Dr.300 and Suspense Cr.300. 
iii. Sales Return Dr.500 and Suspense Cr.500. 
 
Answer 7 
Trade Discount Vs Cash Discount 
Trade Discount Cash Discount 
i. It is allowed when a certain quantity is 
Purchased. 
It is allowed when payment is made within 
certain period. 
ii. It is allowed to increase the sales. It is allowed to get prompt payment from 
customer. 
iii. It is deducted from the invoice itself. It is not deducted from the invoice. 
iv. It is not recorded in the books of accounts 
or ledger accounts. 
Cash discount allowed and received both are 
recorded in their ledger accounts. 
 
Answer 8 
Revenue Recognition: According to this principle income is treated as being earned on the date on which it is 
realized, i.e., the date on which goods or services are transferred to the customers. Since this exchange of 
goods or services may be for cash or on credit, it is not important whether cash has actually been received or 
not. Verifiable Objective: This principle justifies the significance of verifiable documents supporting various 
  
 
CBSE XI  |  Accountancy 
Sample Paper – 3 
 
     
transactions. According to it, each transaction should be supported by Objective evidence like voucher. 
Objective evidence, here, means evidence free from bias of the accountant. 
 
Answer 9 
Reserves may be created for any of the following purposes: 
i.  Meeting unforeseen contingency or liability.  
ii. Redemption of liabilities such as redemption of debentures etc.  
iii. Providing additional working capital and thus strengthening financial position of the business.  
iv. Utilising internal funds for expansion of business.  
v. Equalising the rates of dividends. 
 
Answer 10 
Trial Balance 
Particulars Dr. 
(`) 
Cr. 
(`) 
Bank overdraft  28,000 
Cash in hand 4,000  
Purchase return  8,000 
Sundry expenses 24,000  
Sales return 16,000  
Salaries 16,000  
Purchases 56,000  
Sales  88,000 
Creditors  24,000 
Debtors 16,000  
Stock (opening) 20,000  
Machinery 40,000  
Capital  44,000 
Total  1,92,000 1,92,000 
 
Answer 11 
Journal 
Particulars  L.F. Dr.  ` Cr.  ` 
Bills Receivable  A/c Dr.  4,000  
To Basu A/c    4,000 
(Being acceptance received)     
     
Bank  A/c Dr.  3,760  
Discount A/c Dr.  240  
To Bills Receivable A/c    4,000 
(Being bill discounted)     
     
Basu A/c  Dr.  4,040  
To Bank  A/c    4,040 
(Being bill dishonoured and noting charges paid by 
bank) 
    
     
After 1 month     
Cash A/c Dr.  4,040  
To Basu A/c    4,040 
(Being amount of bill received)     
 
 
Page 3


  
 
CBSE XI  |  Accountancy 
Sample Paper – 3 
 
     
CBSE 
Class XI Accountancy 
Sample Paper – 3  
Solutions 
 
 
Answer 1 
Accounting is an Art as well as a Science. 
 
Answer 2 
A seller prepares cash memo when goods are sold against cash. Cash memo contains details of goods sold, 
quantity and rate of each item. 
 
Answer: 3 
According to the Business Entity Concept, business is a separate and distinct entity from its owner. That is 
why capital is treated as a liability and rules of debit and credit for liability and capital are same. 
 
Answer 4 
Posting is a process of transferring entries from Journal to the Ledger Account. 
 
Answer 5 
Objectives of Book-keeping: 
i. Knowledge of Sale and Purchase of Goods: With the help of account books, a record of total sales and 
purchases during a particular period can be maintained.  
ii. Knowledge of Income and Expenses: The record of various incomes and expenses is kept in such a way 
that the net profit or loss during a particular period can be readily ascertained.  
iii. Record of Assets and Liabilities: Another objective of book-keeping is to keep records of various assets and 
liabilities in such a way that the financial position of the business at the end of the accounting period may 
be determined. 
 
Answer 6  
i. Suresh Dr.2,000 and Ramesh Cr.2,000 
ii. Purchase Dr.300 and Suspense Cr.300. 
iii. Sales Return Dr.500 and Suspense Cr.500. 
 
Answer 7 
Trade Discount Vs Cash Discount 
Trade Discount Cash Discount 
i. It is allowed when a certain quantity is 
Purchased. 
It is allowed when payment is made within 
certain period. 
ii. It is allowed to increase the sales. It is allowed to get prompt payment from 
customer. 
iii. It is deducted from the invoice itself. It is not deducted from the invoice. 
iv. It is not recorded in the books of accounts 
or ledger accounts. 
Cash discount allowed and received both are 
recorded in their ledger accounts. 
 
Answer 8 
Revenue Recognition: According to this principle income is treated as being earned on the date on which it is 
realized, i.e., the date on which goods or services are transferred to the customers. Since this exchange of 
goods or services may be for cash or on credit, it is not important whether cash has actually been received or 
not. Verifiable Objective: This principle justifies the significance of verifiable documents supporting various 
  
 
CBSE XI  |  Accountancy 
Sample Paper – 3 
 
     
transactions. According to it, each transaction should be supported by Objective evidence like voucher. 
Objective evidence, here, means evidence free from bias of the accountant. 
 
Answer 9 
Reserves may be created for any of the following purposes: 
i.  Meeting unforeseen contingency or liability.  
ii. Redemption of liabilities such as redemption of debentures etc.  
iii. Providing additional working capital and thus strengthening financial position of the business.  
iv. Utilising internal funds for expansion of business.  
v. Equalising the rates of dividends. 
 
Answer 10 
Trial Balance 
Particulars Dr. 
(`) 
Cr. 
(`) 
Bank overdraft  28,000 
Cash in hand 4,000  
Purchase return  8,000 
Sundry expenses 24,000  
Sales return 16,000  
Salaries 16,000  
Purchases 56,000  
Sales  88,000 
Creditors  24,000 
Debtors 16,000  
Stock (opening) 20,000  
Machinery 40,000  
Capital  44,000 
Total  1,92,000 1,92,000 
 
Answer 11 
Journal 
Particulars  L.F. Dr.  ` Cr.  ` 
Bills Receivable  A/c Dr.  4,000  
To Basu A/c    4,000 
(Being acceptance received)     
     
Bank  A/c Dr.  3,760  
Discount A/c Dr.  240  
To Bills Receivable A/c    4,000 
(Being bill discounted)     
     
Basu A/c  Dr.  4,040  
To Bank  A/c    4,040 
(Being bill dishonoured and noting charges paid by 
bank) 
    
     
After 1 month     
Cash A/c Dr.  4,040  
To Basu A/c    4,040 
(Being amount of bill received)     
 
 
  
 
CBSE XI  |  Accountancy 
Sample Paper – 3 
 
     
Answer 12 
Date Particular L.F. ` Date Particular L.F. ` 
Aug    Aug    
1 To Capital A/c  10,000 2 By Purchase A/c  6,000 
7 To Sales A/c  4,000 5 By furniture A/c   1,000 
10 To Commission A/c   500 15 By Ram A/c  2,000 
24 To Hari A/c   4,000 28 By Stationery A/c  300 
    31 By Rent A/c  700 
    31 By Drawings A/c  2,800 
    31 By Balance A/c  5,700 
   18,500    18,500 
Sep 1 To Balance b/d   5,700     
 
Answer 13                                                     
Accounting Equation 
Particulars Assets = Liabilities 
 Cash + Stock + Machinery  Creditors + Capital 
i. Commenced Business 50,000 + 30,000 + 20,000 = 0 + 1,00,000 
ii. Goods purchased 0 + 10,000 + 0 = 10,000 + 0 
New Equation 50,000 +40,000 +20,000 = 10,000 + 1,00,000 
iii. Rent Received 5,000 + 0 + 0 = 0 + 5,000 
New Equation 55,000 +40,000 +20,000 = 10,000 + 1,05,000 
Sold goods 12,000 + (9,000) + 0 = 0 + 3,000 
New Equation 67,000 + 31,000 + 20,000 = 10,000 + 1,08,000 
 
Answer 14 
Bank Reconciliation Statement 
Particulars ` ` 
Balance as per passbook (overdraft)  20,000 
Add: Cheque issued but not presented  25,000 
  45,000 
Less: Insurance premium paid by the bank 500  
Cheque deposited but not cleared 22,000  
Interest on Overdraft 1,000 23,500 
Balance as per cash book (overdraft)  21,500 
 
Answer 15 
Machinery Account 
Dr.         Cr. 
Date Particulars  J.F. ` Date Particulars  J.F. ` 
2015     2016     
July 01 To Bank A/c  M I (2/3) 20,000   Mar 31 By Depreciation  A/c     
July 01 To Bank A/c   M I (1/3) 10,000  30,000  M I  (2/3)( 9 months) 1,500   
2012      M I (1/3) (9 months) 750   
Jan 01 To Bank A/c  M II   20,000  M II (3 m) 500  2,750 
     Mar 31 By Balance c/d    
      M I  (2/3) 18,500   
      M I  (1/3) 9,250   
      M II 19,500  47,250 
    50,000     50,000 
2016     2017     
Apr 01 To Balance b/d          
 M I  (2/3) 18,500        
 M I  (1/3) 9,250        
Page 4


  
 
CBSE XI  |  Accountancy 
Sample Paper – 3 
 
     
CBSE 
Class XI Accountancy 
Sample Paper – 3  
Solutions 
 
 
Answer 1 
Accounting is an Art as well as a Science. 
 
Answer 2 
A seller prepares cash memo when goods are sold against cash. Cash memo contains details of goods sold, 
quantity and rate of each item. 
 
Answer: 3 
According to the Business Entity Concept, business is a separate and distinct entity from its owner. That is 
why capital is treated as a liability and rules of debit and credit for liability and capital are same. 
 
Answer 4 
Posting is a process of transferring entries from Journal to the Ledger Account. 
 
Answer 5 
Objectives of Book-keeping: 
i. Knowledge of Sale and Purchase of Goods: With the help of account books, a record of total sales and 
purchases during a particular period can be maintained.  
ii. Knowledge of Income and Expenses: The record of various incomes and expenses is kept in such a way 
that the net profit or loss during a particular period can be readily ascertained.  
iii. Record of Assets and Liabilities: Another objective of book-keeping is to keep records of various assets and 
liabilities in such a way that the financial position of the business at the end of the accounting period may 
be determined. 
 
Answer 6  
i. Suresh Dr.2,000 and Ramesh Cr.2,000 
ii. Purchase Dr.300 and Suspense Cr.300. 
iii. Sales Return Dr.500 and Suspense Cr.500. 
 
Answer 7 
Trade Discount Vs Cash Discount 
Trade Discount Cash Discount 
i. It is allowed when a certain quantity is 
Purchased. 
It is allowed when payment is made within 
certain period. 
ii. It is allowed to increase the sales. It is allowed to get prompt payment from 
customer. 
iii. It is deducted from the invoice itself. It is not deducted from the invoice. 
iv. It is not recorded in the books of accounts 
or ledger accounts. 
Cash discount allowed and received both are 
recorded in their ledger accounts. 
 
Answer 8 
Revenue Recognition: According to this principle income is treated as being earned on the date on which it is 
realized, i.e., the date on which goods or services are transferred to the customers. Since this exchange of 
goods or services may be for cash or on credit, it is not important whether cash has actually been received or 
not. Verifiable Objective: This principle justifies the significance of verifiable documents supporting various 
  
 
CBSE XI  |  Accountancy 
Sample Paper – 3 
 
     
transactions. According to it, each transaction should be supported by Objective evidence like voucher. 
Objective evidence, here, means evidence free from bias of the accountant. 
 
Answer 9 
Reserves may be created for any of the following purposes: 
i.  Meeting unforeseen contingency or liability.  
ii. Redemption of liabilities such as redemption of debentures etc.  
iii. Providing additional working capital and thus strengthening financial position of the business.  
iv. Utilising internal funds for expansion of business.  
v. Equalising the rates of dividends. 
 
Answer 10 
Trial Balance 
Particulars Dr. 
(`) 
Cr. 
(`) 
Bank overdraft  28,000 
Cash in hand 4,000  
Purchase return  8,000 
Sundry expenses 24,000  
Sales return 16,000  
Salaries 16,000  
Purchases 56,000  
Sales  88,000 
Creditors  24,000 
Debtors 16,000  
Stock (opening) 20,000  
Machinery 40,000  
Capital  44,000 
Total  1,92,000 1,92,000 
 
Answer 11 
Journal 
Particulars  L.F. Dr.  ` Cr.  ` 
Bills Receivable  A/c Dr.  4,000  
To Basu A/c    4,000 
(Being acceptance received)     
     
Bank  A/c Dr.  3,760  
Discount A/c Dr.  240  
To Bills Receivable A/c    4,000 
(Being bill discounted)     
     
Basu A/c  Dr.  4,040  
To Bank  A/c    4,040 
(Being bill dishonoured and noting charges paid by 
bank) 
    
     
After 1 month     
Cash A/c Dr.  4,040  
To Basu A/c    4,040 
(Being amount of bill received)     
 
 
  
 
CBSE XI  |  Accountancy 
Sample Paper – 3 
 
     
Answer 12 
Date Particular L.F. ` Date Particular L.F. ` 
Aug    Aug    
1 To Capital A/c  10,000 2 By Purchase A/c  6,000 
7 To Sales A/c  4,000 5 By furniture A/c   1,000 
10 To Commission A/c   500 15 By Ram A/c  2,000 
24 To Hari A/c   4,000 28 By Stationery A/c  300 
    31 By Rent A/c  700 
    31 By Drawings A/c  2,800 
    31 By Balance A/c  5,700 
   18,500    18,500 
Sep 1 To Balance b/d   5,700     
 
Answer 13                                                     
Accounting Equation 
Particulars Assets = Liabilities 
 Cash + Stock + Machinery  Creditors + Capital 
i. Commenced Business 50,000 + 30,000 + 20,000 = 0 + 1,00,000 
ii. Goods purchased 0 + 10,000 + 0 = 10,000 + 0 
New Equation 50,000 +40,000 +20,000 = 10,000 + 1,00,000 
iii. Rent Received 5,000 + 0 + 0 = 0 + 5,000 
New Equation 55,000 +40,000 +20,000 = 10,000 + 1,05,000 
Sold goods 12,000 + (9,000) + 0 = 0 + 3,000 
New Equation 67,000 + 31,000 + 20,000 = 10,000 + 1,08,000 
 
Answer 14 
Bank Reconciliation Statement 
Particulars ` ` 
Balance as per passbook (overdraft)  20,000 
Add: Cheque issued but not presented  25,000 
  45,000 
Less: Insurance premium paid by the bank 500  
Cheque deposited but not cleared 22,000  
Interest on Overdraft 1,000 23,500 
Balance as per cash book (overdraft)  21,500 
 
Answer 15 
Machinery Account 
Dr.         Cr. 
Date Particulars  J.F. ` Date Particulars  J.F. ` 
2015     2016     
July 01 To Bank A/c  M I (2/3) 20,000   Mar 31 By Depreciation  A/c     
July 01 To Bank A/c   M I (1/3) 10,000  30,000  M I  (2/3)( 9 months) 1,500   
2012      M I (1/3) (9 months) 750   
Jan 01 To Bank A/c  M II   20,000  M II (3 m) 500  2,750 
     Mar 31 By Balance c/d    
      M I  (2/3) 18,500   
      M I  (1/3) 9,250   
      M II 19,500  47,250 
    50,000     50,000 
2016     2017     
Apr 01 To Balance b/d          
 M I  (2/3) 18,500        
 M I  (1/3) 9,250        
  
 
CBSE XI  |  Accountancy 
Sample Paper – 3 
 
     
 M II 19,500  47,250 Mar 31 By Depreciation  A/c     
Oct 01 To Bank A/c M III   10,000  M I(2/3) 1,850   
      M I(1/3) 925   
      M II 1,950   
      M III 500  5,225 
     Mar 31 By Balance c/d    
      M I  (2/3) 16,650   
      M I  (1/3) 8,325   
      M II 17,550   
      M III 9,500  52,025 
    57,250     57,250 
2016     2017     
Apr 01 To Balance b/d     Apr 01 By Bank A/c     
 M I  (2/3) 16,650    M I (1/3)   3,000 
 M I  (1/3) 8,325   Apr 0 1 By Profit & Loss A/c    5,325 
 M II 17,550   2018     
 M III 9,500  52,025 Mar 31 By Depreciation  A/c     
      M I(2/3) 1,665   
      M II 1,755   
      M III 950  4,370 
     Mar 31 By Balance c/d    
      M I(2/3) 14,985   
      M II 15,795   
     Mar 31 M III 8,550  39,330 
    52,025     52,025 
Working Note: 
Calculation of Profit or Loss on Sale of Plant I (1/3) 
Particulars ` 
Book Value of Plant I(1/3) as on Apr 01,2017 8,325 
 Less: Sale Value (3,000) 
Loss on Sale 5,325 
 
Answer 16 
The amount paid to obtain a licence is a capital expenditure. 
 
Answer 17 
Hardware is important component of a computer system which can be seen or touched for example; Monitor, 
CPU, Mouse and keyboard etc. 
 
Answer 18 
Closing capital = 1,40,000 + 40,000 + 40,000 – 14,000 = 2,06,000 
  
Answer 19 
Calculation of subscription 
Subscription received during the year  2,65,000 
Add: Subscription received in advance  12,000 
  2,77,000 
Less: Subscriptions received in advance 31-3-2009 30,000  
Subscriptions received for 2007-08 40,000 70,000 
Subscription received for the year  2,07,000 
Total Subscription due for the year 250 ? 1,000 = 2,50,000  
Less: Subscription received for the year 2,07,000  
Subscription outstanding for the year 43,000  
 
Page 5


  
 
CBSE XI  |  Accountancy 
Sample Paper – 3 
 
     
CBSE 
Class XI Accountancy 
Sample Paper – 3  
Solutions 
 
 
Answer 1 
Accounting is an Art as well as a Science. 
 
Answer 2 
A seller prepares cash memo when goods are sold against cash. Cash memo contains details of goods sold, 
quantity and rate of each item. 
 
Answer: 3 
According to the Business Entity Concept, business is a separate and distinct entity from its owner. That is 
why capital is treated as a liability and rules of debit and credit for liability and capital are same. 
 
Answer 4 
Posting is a process of transferring entries from Journal to the Ledger Account. 
 
Answer 5 
Objectives of Book-keeping: 
i. Knowledge of Sale and Purchase of Goods: With the help of account books, a record of total sales and 
purchases during a particular period can be maintained.  
ii. Knowledge of Income and Expenses: The record of various incomes and expenses is kept in such a way 
that the net profit or loss during a particular period can be readily ascertained.  
iii. Record of Assets and Liabilities: Another objective of book-keeping is to keep records of various assets and 
liabilities in such a way that the financial position of the business at the end of the accounting period may 
be determined. 
 
Answer 6  
i. Suresh Dr.2,000 and Ramesh Cr.2,000 
ii. Purchase Dr.300 and Suspense Cr.300. 
iii. Sales Return Dr.500 and Suspense Cr.500. 
 
Answer 7 
Trade Discount Vs Cash Discount 
Trade Discount Cash Discount 
i. It is allowed when a certain quantity is 
Purchased. 
It is allowed when payment is made within 
certain period. 
ii. It is allowed to increase the sales. It is allowed to get prompt payment from 
customer. 
iii. It is deducted from the invoice itself. It is not deducted from the invoice. 
iv. It is not recorded in the books of accounts 
or ledger accounts. 
Cash discount allowed and received both are 
recorded in their ledger accounts. 
 
Answer 8 
Revenue Recognition: According to this principle income is treated as being earned on the date on which it is 
realized, i.e., the date on which goods or services are transferred to the customers. Since this exchange of 
goods or services may be for cash or on credit, it is not important whether cash has actually been received or 
not. Verifiable Objective: This principle justifies the significance of verifiable documents supporting various 
  
 
CBSE XI  |  Accountancy 
Sample Paper – 3 
 
     
transactions. According to it, each transaction should be supported by Objective evidence like voucher. 
Objective evidence, here, means evidence free from bias of the accountant. 
 
Answer 9 
Reserves may be created for any of the following purposes: 
i.  Meeting unforeseen contingency or liability.  
ii. Redemption of liabilities such as redemption of debentures etc.  
iii. Providing additional working capital and thus strengthening financial position of the business.  
iv. Utilising internal funds for expansion of business.  
v. Equalising the rates of dividends. 
 
Answer 10 
Trial Balance 
Particulars Dr. 
(`) 
Cr. 
(`) 
Bank overdraft  28,000 
Cash in hand 4,000  
Purchase return  8,000 
Sundry expenses 24,000  
Sales return 16,000  
Salaries 16,000  
Purchases 56,000  
Sales  88,000 
Creditors  24,000 
Debtors 16,000  
Stock (opening) 20,000  
Machinery 40,000  
Capital  44,000 
Total  1,92,000 1,92,000 
 
Answer 11 
Journal 
Particulars  L.F. Dr.  ` Cr.  ` 
Bills Receivable  A/c Dr.  4,000  
To Basu A/c    4,000 
(Being acceptance received)     
     
Bank  A/c Dr.  3,760  
Discount A/c Dr.  240  
To Bills Receivable A/c    4,000 
(Being bill discounted)     
     
Basu A/c  Dr.  4,040  
To Bank  A/c    4,040 
(Being bill dishonoured and noting charges paid by 
bank) 
    
     
After 1 month     
Cash A/c Dr.  4,040  
To Basu A/c    4,040 
(Being amount of bill received)     
 
 
  
 
CBSE XI  |  Accountancy 
Sample Paper – 3 
 
     
Answer 12 
Date Particular L.F. ` Date Particular L.F. ` 
Aug    Aug    
1 To Capital A/c  10,000 2 By Purchase A/c  6,000 
7 To Sales A/c  4,000 5 By furniture A/c   1,000 
10 To Commission A/c   500 15 By Ram A/c  2,000 
24 To Hari A/c   4,000 28 By Stationery A/c  300 
    31 By Rent A/c  700 
    31 By Drawings A/c  2,800 
    31 By Balance A/c  5,700 
   18,500    18,500 
Sep 1 To Balance b/d   5,700     
 
Answer 13                                                     
Accounting Equation 
Particulars Assets = Liabilities 
 Cash + Stock + Machinery  Creditors + Capital 
i. Commenced Business 50,000 + 30,000 + 20,000 = 0 + 1,00,000 
ii. Goods purchased 0 + 10,000 + 0 = 10,000 + 0 
New Equation 50,000 +40,000 +20,000 = 10,000 + 1,00,000 
iii. Rent Received 5,000 + 0 + 0 = 0 + 5,000 
New Equation 55,000 +40,000 +20,000 = 10,000 + 1,05,000 
Sold goods 12,000 + (9,000) + 0 = 0 + 3,000 
New Equation 67,000 + 31,000 + 20,000 = 10,000 + 1,08,000 
 
Answer 14 
Bank Reconciliation Statement 
Particulars ` ` 
Balance as per passbook (overdraft)  20,000 
Add: Cheque issued but not presented  25,000 
  45,000 
Less: Insurance premium paid by the bank 500  
Cheque deposited but not cleared 22,000  
Interest on Overdraft 1,000 23,500 
Balance as per cash book (overdraft)  21,500 
 
Answer 15 
Machinery Account 
Dr.         Cr. 
Date Particulars  J.F. ` Date Particulars  J.F. ` 
2015     2016     
July 01 To Bank A/c  M I (2/3) 20,000   Mar 31 By Depreciation  A/c     
July 01 To Bank A/c   M I (1/3) 10,000  30,000  M I  (2/3)( 9 months) 1,500   
2012      M I (1/3) (9 months) 750   
Jan 01 To Bank A/c  M II   20,000  M II (3 m) 500  2,750 
     Mar 31 By Balance c/d    
      M I  (2/3) 18,500   
      M I  (1/3) 9,250   
      M II 19,500  47,250 
    50,000     50,000 
2016     2017     
Apr 01 To Balance b/d          
 M I  (2/3) 18,500        
 M I  (1/3) 9,250        
  
 
CBSE XI  |  Accountancy 
Sample Paper – 3 
 
     
 M II 19,500  47,250 Mar 31 By Depreciation  A/c     
Oct 01 To Bank A/c M III   10,000  M I(2/3) 1,850   
      M I(1/3) 925   
      M II 1,950   
      M III 500  5,225 
     Mar 31 By Balance c/d    
      M I  (2/3) 16,650   
      M I  (1/3) 8,325   
      M II 17,550   
      M III 9,500  52,025 
    57,250     57,250 
2016     2017     
Apr 01 To Balance b/d     Apr 01 By Bank A/c     
 M I  (2/3) 16,650    M I (1/3)   3,000 
 M I  (1/3) 8,325   Apr 0 1 By Profit & Loss A/c    5,325 
 M II 17,550   2018     
 M III 9,500  52,025 Mar 31 By Depreciation  A/c     
      M I(2/3) 1,665   
      M II 1,755   
      M III 950  4,370 
     Mar 31 By Balance c/d    
      M I(2/3) 14,985   
      M II 15,795   
     Mar 31 M III 8,550  39,330 
    52,025     52,025 
Working Note: 
Calculation of Profit or Loss on Sale of Plant I (1/3) 
Particulars ` 
Book Value of Plant I(1/3) as on Apr 01,2017 8,325 
 Less: Sale Value (3,000) 
Loss on Sale 5,325 
 
Answer 16 
The amount paid to obtain a licence is a capital expenditure. 
 
Answer 17 
Hardware is important component of a computer system which can be seen or touched for example; Monitor, 
CPU, Mouse and keyboard etc. 
 
Answer 18 
Closing capital = 1,40,000 + 40,000 + 40,000 – 14,000 = 2,06,000 
  
Answer 19 
Calculation of subscription 
Subscription received during the year  2,65,000 
Add: Subscription received in advance  12,000 
  2,77,000 
Less: Subscriptions received in advance 31-3-2009 30,000  
Subscriptions received for 2007-08 40,000 70,000 
Subscription received for the year  2,07,000 
Total Subscription due for the year 250 ? 1,000 = 2,50,000  
Less: Subscription received for the year 2,07,000  
Subscription outstanding for the year 43,000  
 
  
 
CBSE XI  |  Accountancy 
Sample Paper – 3 
 
     
Answer 20 
Statement of Affairs (opening) 
Liabilities ` Assets ` 
Creditors 8,000 Cash in hand 3,000 
Capital (Bal.fig) 16,000 Bank Balance 9,000 
  Furniture 4,000 
  Stock 2,000 
  Debtors 6,000 
 24,000  24,000 
 
Statement of Affairs (closing) 
Liabilities ` Assets ` 
Creditors 6,000 Cash in hand 1,000 
Capital (Bal.fig) 20,000 Bank Balance 7,000 
  Furniture 4,000 
  Stock 6,000 
  Debtors 8,000 
 26,000  26,000 
Calculation of profit: 
 Capital at the end + Drawings – Additional capital – opening capital 20,000 + 2,000 – 4,000 – 16,000 = 2,000 
 
Answer 21 
Trading Account 
Particulars 
 
` Particulars ` 
To Opening Stock                 56,000 By Sales*                       4,10,000  
To Purchase 2,48,000  (-) Sales Return          10,000 4,00,000 
(-) Purchases Return     8,000 2,40,000 By Closing stock   72,000 
To Carriage Inward   16,000   
To Gross Profit   1,60,000   
  4,72,000  4,72,000 
     
Net Sales = Cash Sales + Credit Sales 
    =80,000 + 3,30,000 = 4,10,000  
 
Answer 22 
Tailor-made software: Softwares which are developed after the discussion between the user and the 
developers. These softwares are used for special purpose. For example, softwares for security of data etc.  
Advantages of Tailor-made Softwares 
i. Suitable for large business houses.  
ii.  Level of secrecy and authenticity is reliable.  
iii. Special training and knowledge is provided to the users.  
iv. Transactions are recorded properly with accuracy. 
Limitations of Customised Softwares: 
i. Very costly (high cost of installation and training).  
ii. Only large business houses can afford, small business houses cannot afford these softwares. 
 
 
 
 
 
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FAQs on Sample Solution Paper 3 - Accountancy, Class 11 - Sample Papers for Class 11 Commerce

1. What is the purpose of accountancy in Class 11?
Answer: The purpose of studying accountancy in Class 11 is to develop an understanding of the basic concepts, principles, and techniques of accounting. It helps students in acquiring the necessary skills to record, classify, summarize, interpret, and communicate financial information.
2. What are the major topics covered in the Class 11 accountancy syllabus?
Answer: The major topics covered in the Class 11 accountancy syllabus include introduction to accounting, theory base of accounting, recording of transactions, preparation of financial statements, partnership accounts, and financial statement analysis.
3. How can I improve my understanding of accountancy concepts in Class 11?
Answer: To improve your understanding of accountancy concepts in Class 11, you can practice solving numerical problems, revise the theoretical concepts regularly, refer to additional study materials and reference books, seek guidance from teachers or tutors, and actively participate in class discussions.
4. Are there any career opportunities in accountancy after Class 11?
Answer: Yes, there are various career opportunities in accountancy after Class 11. Some of the popular career options include becoming a chartered accountant, financial analyst, tax consultant, auditor, financial planner, or working in the finance and accounting department of organizations.
5. What are the important skills required for studying accountancy in Class 11?
Answer: Some important skills required for studying accountancy in Class 11 include good numerical and analytical skills, attention to detail, problem-solving abilities, ability to interpret financial data, strong communication skills, and proficiency in using accounting software and tools.
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