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 Page 1


 
 
      
Date:                        Class: XI 
Accountancy  (055) 
Time:3 hrs                                         M. M: 90 
General Instructions: 
1. All questions are compulsory 
2. Marks for each question are indicated against it 
3. Attempt all parts of a question at one place. 
4. Do write narrations with journal entries 
 
1 Is cash memo a source document or an accounting voucher? 
 
1 
2 Real accounts are related with:- 
(a) Capital 
(b) Assets 
(c) Liabilities 
(d) Income and gains 
 
1 
3 Jitender purchased goods from Ramesh having list price of Rs. 5,000 on cash basis at 8% trade 
discount and 5% cash discount. Half the amount was paid by him. The amount of discount 
account in his books will be: 
(a) Rs. 400             (b)Rs.250            (c) Rs.230       (d)Rs.115 
 
1 
4 An accountant feels that since sales book is maintained, there is no need to open sales account. 
Is he correct in his views? 
 
1 
5 A company purchased goods for Rs. 5,00,000 and sold 80% of such goods during the year. The 
market value of remaining goods was Rs. 90,000.The company valued the closing stock at cost. 
Is the company correct? 
 
1 
6 Distinguish between “Receipts and Payments account” and “Income and Expenditure account” 
on the basis of nature of items recorded therein. 
 
1 
7 How will you deal with following items while preparing the final accounts of a club for the 
year ending 31
st
 March 2014? 
Stock of stationery  Rs. 4,000(on 1.4.13)   and    Rs. 3,000(on 31.3.14) 
Creditors for stationery Rs.7,200(on 1.4.13)   and    Rs. 5,400(on 31.3.14) 
Amount paid for stationery during the year 2013-14 Rs.25,000. 
 
3 
8 From the following information calculate the amount of subscription to be credited to the 
Income & Expenditure account for the year ended 2013-14 
Subscription received during the year                         Rs. 80,000 
Subscription outstanding on 31.12.13                        Rs.26,000 
Subscription outstanding on 31.12.14                         Rs.6,000 
Subscription received in advance on 31.12.13            Rs.15,000 
Subscription received in advance on 31.12.14            Rs.10,000 
Subscription of Rs.2,000 are still in arrears for the year 2012-13. 
 
3 
9 (i) From the following information calculate operating profit: 
Net profit                          Rs.2,00,000 
Rent received                    Rs.20,000 
Gain on sale of machine   Rs. 30,000 
Interest paid on loans        Rs.40,000 
Charity                               Rs.4,000 
(ii) G Ltd imported from Germany one machinery for sale in India and another machinery 
for production purposes. Will you treat them goods or fixed assets?  
2+1 
Page 2


 
 
      
Date:                        Class: XI 
Accountancy  (055) 
Time:3 hrs                                         M. M: 90 
General Instructions: 
1. All questions are compulsory 
2. Marks for each question are indicated against it 
3. Attempt all parts of a question at one place. 
4. Do write narrations with journal entries 
 
1 Is cash memo a source document or an accounting voucher? 
 
1 
2 Real accounts are related with:- 
(a) Capital 
(b) Assets 
(c) Liabilities 
(d) Income and gains 
 
1 
3 Jitender purchased goods from Ramesh having list price of Rs. 5,000 on cash basis at 8% trade 
discount and 5% cash discount. Half the amount was paid by him. The amount of discount 
account in his books will be: 
(a) Rs. 400             (b)Rs.250            (c) Rs.230       (d)Rs.115 
 
1 
4 An accountant feels that since sales book is maintained, there is no need to open sales account. 
Is he correct in his views? 
 
1 
5 A company purchased goods for Rs. 5,00,000 and sold 80% of such goods during the year. The 
market value of remaining goods was Rs. 90,000.The company valued the closing stock at cost. 
Is the company correct? 
 
1 
6 Distinguish between “Receipts and Payments account” and “Income and Expenditure account” 
on the basis of nature of items recorded therein. 
 
1 
7 How will you deal with following items while preparing the final accounts of a club for the 
year ending 31
st
 March 2014? 
Stock of stationery  Rs. 4,000(on 1.4.13)   and    Rs. 3,000(on 31.3.14) 
Creditors for stationery Rs.7,200(on 1.4.13)   and    Rs. 5,400(on 31.3.14) 
Amount paid for stationery during the year 2013-14 Rs.25,000. 
 
3 
8 From the following information calculate the amount of subscription to be credited to the 
Income & Expenditure account for the year ended 2013-14 
Subscription received during the year                         Rs. 80,000 
Subscription outstanding on 31.12.13                        Rs.26,000 
Subscription outstanding on 31.12.14                         Rs.6,000 
Subscription received in advance on 31.12.13            Rs.15,000 
Subscription received in advance on 31.12.14            Rs.10,000 
Subscription of Rs.2,000 are still in arrears for the year 2012-13. 
 
3 
9 (i) From the following information calculate operating profit: 
Net profit                          Rs.2,00,000 
Rent received                    Rs.20,000 
Gain on sale of machine   Rs. 30,000 
Interest paid on loans        Rs.40,000 
Charity                               Rs.4,000 
(ii) G Ltd imported from Germany one machinery for sale in India and another machinery 
for production purposes. Will you treat them goods or fixed assets?  
2+1 
XI A 2 of 4 
 
10 Shri Avtar establishes a small business and has not maintained regular books and records his 
transactions through accounting equation. Is his decision correct? What is the effect thereof? 
 
3 
11 Identify the limitations of accounting highlighted in the below mentioned statements:- 
(i)Accounts may be manipulated to conceal vital facts. 
(ii)Estimations are done like provision for bad debts, useful life of an asset. 
(iii)The amount of cash that a firm may realize by selling its assets is never known. 
 
3 
12 Identify and define the following types of expenditure:- 
(a) Such expenditure is shown on the assets side of Balance Sheet 
(b) Such expenditure is shown on the debit side of Profit and Loss account. 
 
3 
13 On 31
st
 Jan 2014 the pass book of Mr. Gupta showed a debit balance of Rs. 41,000. Prepare a 
Bank Reconciliation statement from the following particulars:- 
(i) Cheques amounting to Rs. 15,600 were drawn on 27
th
 January, 2014. Out of which 
cheques for Rs. 11,000 were encashed upto 31
st
 Jan 2014. 
 (ii)   A wrong debit of Rs.800 has been given by the bank in the pass book. 
(iii)  A cheque for Rs. 200 was credited in the pass book but was not recorded in the cash 
book. 
(iv) Cheques amounting to Rs. 21,000 were deposited for collection. But out of these cheques 
for Rs. 7,400 have been credited in the pass book on 5
th
 Feb 2014. 
(v) A cheque for Rs. 1,000 was returned dishonoured by the bank and was debited in the pass 
book only. 
(vi) Interest on overdraft amounting to Rs.100 was not entered in the cash book. 
4 
14 
 
 
 
 
 
 
 
 
 
 
 
(i) Pass the opening entry: 
      Furniture Rs.50,000; weighing machine Rs.15,000;computers Rs.30,000; security deposit 
against rent Rs.50,000; debtors Rs.2,000; stock Rs.75,000; bank balance Rs.1,10,000; 
cash in hand Rs. 35,000 ; creditors for goods Rs. 1,25,000; rent payable Rs.10,000; loan 
from bank Rs. 1,50,000. 
(ii) Open an account for debtor, Gopal in the ledger of Mohan Ltd. and post the following 
transactions in Gopal?s a/c: 
(a) Goods sold to Gopal on credit Rs.15,000 
(b) Goods returned by  Gopal  Rs. 2,000 
(c) Gopal declared insolvent and received Rs. 10,000 as full and final compensation from 
his official receiver. 
2+2 
15 The chief accountant of R Ltd. has taken a decision that adjustments for accrued income and 
prepaid expenses should not be adjusted while preparing the financial statements. As a result 
recognition of expenses in the same period as associated revenues could not be done in a fair 
manner. 
(i)Whether his decision is correct? give reasons 
(ii)Which accounting concepts are not being followed? Identify and explain them. 
 
4 
16 There are certain attributes that makes the accounting information useful to users. List and 
explain them. 
 
4 
17 Mr. Kamal started a business with Rs. 12,00,000 as cash and furniture of Rs.8,00,000. He 
maintains his books of account on „Single entry System?. His books provide the following 
information at the year end: 
Creditors – Rs. 2,00,000         Bank(Cr. Bal) – Rs.3,80,000         Debtors – Rs. 1,60,000  
Stock – Rs. 4,00,000  Bills receivable– Rs. 1,40,000        machinery- Rs. 25,00,000 
During the year he withdrew Rs. 25,000 per month  and sold his personal investments of Rs. 
6,00,000  @ 50% premium and brought the money into his business. You are required to 
ascertain the profit or loss made by him during the year . Also prepare the Statement of affairs 
at the year end  after considering the following adjustments: 
(i) Furniture is to be depreciated at 25%. 
(ii) Debtors worth Rs. 20,000 proved bad. 
 
4 
18 Computer software can be divided into three categories. Name and explain them. 
 
6 
Page 3


 
 
      
Date:                        Class: XI 
Accountancy  (055) 
Time:3 hrs                                         M. M: 90 
General Instructions: 
1. All questions are compulsory 
2. Marks for each question are indicated against it 
3. Attempt all parts of a question at one place. 
4. Do write narrations with journal entries 
 
1 Is cash memo a source document or an accounting voucher? 
 
1 
2 Real accounts are related with:- 
(a) Capital 
(b) Assets 
(c) Liabilities 
(d) Income and gains 
 
1 
3 Jitender purchased goods from Ramesh having list price of Rs. 5,000 on cash basis at 8% trade 
discount and 5% cash discount. Half the amount was paid by him. The amount of discount 
account in his books will be: 
(a) Rs. 400             (b)Rs.250            (c) Rs.230       (d)Rs.115 
 
1 
4 An accountant feels that since sales book is maintained, there is no need to open sales account. 
Is he correct in his views? 
 
1 
5 A company purchased goods for Rs. 5,00,000 and sold 80% of such goods during the year. The 
market value of remaining goods was Rs. 90,000.The company valued the closing stock at cost. 
Is the company correct? 
 
1 
6 Distinguish between “Receipts and Payments account” and “Income and Expenditure account” 
on the basis of nature of items recorded therein. 
 
1 
7 How will you deal with following items while preparing the final accounts of a club for the 
year ending 31
st
 March 2014? 
Stock of stationery  Rs. 4,000(on 1.4.13)   and    Rs. 3,000(on 31.3.14) 
Creditors for stationery Rs.7,200(on 1.4.13)   and    Rs. 5,400(on 31.3.14) 
Amount paid for stationery during the year 2013-14 Rs.25,000. 
 
3 
8 From the following information calculate the amount of subscription to be credited to the 
Income & Expenditure account for the year ended 2013-14 
Subscription received during the year                         Rs. 80,000 
Subscription outstanding on 31.12.13                        Rs.26,000 
Subscription outstanding on 31.12.14                         Rs.6,000 
Subscription received in advance on 31.12.13            Rs.15,000 
Subscription received in advance on 31.12.14            Rs.10,000 
Subscription of Rs.2,000 are still in arrears for the year 2012-13. 
 
3 
9 (i) From the following information calculate operating profit: 
Net profit                          Rs.2,00,000 
Rent received                    Rs.20,000 
Gain on sale of machine   Rs. 30,000 
Interest paid on loans        Rs.40,000 
Charity                               Rs.4,000 
(ii) G Ltd imported from Germany one machinery for sale in India and another machinery 
for production purposes. Will you treat them goods or fixed assets?  
2+1 
XI A 2 of 4 
 
10 Shri Avtar establishes a small business and has not maintained regular books and records his 
transactions through accounting equation. Is his decision correct? What is the effect thereof? 
 
3 
11 Identify the limitations of accounting highlighted in the below mentioned statements:- 
(i)Accounts may be manipulated to conceal vital facts. 
(ii)Estimations are done like provision for bad debts, useful life of an asset. 
(iii)The amount of cash that a firm may realize by selling its assets is never known. 
 
3 
12 Identify and define the following types of expenditure:- 
(a) Such expenditure is shown on the assets side of Balance Sheet 
(b) Such expenditure is shown on the debit side of Profit and Loss account. 
 
3 
13 On 31
st
 Jan 2014 the pass book of Mr. Gupta showed a debit balance of Rs. 41,000. Prepare a 
Bank Reconciliation statement from the following particulars:- 
(i) Cheques amounting to Rs. 15,600 were drawn on 27
th
 January, 2014. Out of which 
cheques for Rs. 11,000 were encashed upto 31
st
 Jan 2014. 
 (ii)   A wrong debit of Rs.800 has been given by the bank in the pass book. 
(iii)  A cheque for Rs. 200 was credited in the pass book but was not recorded in the cash 
book. 
(iv) Cheques amounting to Rs. 21,000 were deposited for collection. But out of these cheques 
for Rs. 7,400 have been credited in the pass book on 5
th
 Feb 2014. 
(v) A cheque for Rs. 1,000 was returned dishonoured by the bank and was debited in the pass 
book only. 
(vi) Interest on overdraft amounting to Rs.100 was not entered in the cash book. 
4 
14 
 
 
 
 
 
 
 
 
 
 
 
(i) Pass the opening entry: 
      Furniture Rs.50,000; weighing machine Rs.15,000;computers Rs.30,000; security deposit 
against rent Rs.50,000; debtors Rs.2,000; stock Rs.75,000; bank balance Rs.1,10,000; 
cash in hand Rs. 35,000 ; creditors for goods Rs. 1,25,000; rent payable Rs.10,000; loan 
from bank Rs. 1,50,000. 
(ii) Open an account for debtor, Gopal in the ledger of Mohan Ltd. and post the following 
transactions in Gopal?s a/c: 
(a) Goods sold to Gopal on credit Rs.15,000 
(b) Goods returned by  Gopal  Rs. 2,000 
(c) Gopal declared insolvent and received Rs. 10,000 as full and final compensation from 
his official receiver. 
2+2 
15 The chief accountant of R Ltd. has taken a decision that adjustments for accrued income and 
prepaid expenses should not be adjusted while preparing the financial statements. As a result 
recognition of expenses in the same period as associated revenues could not be done in a fair 
manner. 
(i)Whether his decision is correct? give reasons 
(ii)Which accounting concepts are not being followed? Identify and explain them. 
 
4 
16 There are certain attributes that makes the accounting information useful to users. List and 
explain them. 
 
4 
17 Mr. Kamal started a business with Rs. 12,00,000 as cash and furniture of Rs.8,00,000. He 
maintains his books of account on „Single entry System?. His books provide the following 
information at the year end: 
Creditors – Rs. 2,00,000         Bank(Cr. Bal) – Rs.3,80,000         Debtors – Rs. 1,60,000  
Stock – Rs. 4,00,000  Bills receivable– Rs. 1,40,000        machinery- Rs. 25,00,000 
During the year he withdrew Rs. 25,000 per month  and sold his personal investments of Rs. 
6,00,000  @ 50% premium and brought the money into his business. You are required to 
ascertain the profit or loss made by him during the year . Also prepare the Statement of affairs 
at the year end  after considering the following adjustments: 
(i) Furniture is to be depreciated at 25%. 
(ii) Debtors worth Rs. 20,000 proved bad. 
 
4 
18 Computer software can be divided into three categories. Name and explain them. 
 
6 
XI A 3 of 4 
 
19 Ladoo Ltd purchased a machinery for Rs. 36,000 and spent Rs. 4,000 on its overhauling on 1
st
 
October 2009. Depreciation is provided @10% p.a. on Diminishing Balance Method . On 1
st
 
January 2012, one –fourth of machinery was found unsuitable and disposed off for Rs.6,000. 
On the same date a new machinery at a cost of Rs.15,000 was purchased. Write Machinery a/c 
for 3 years. The accounts are closed on 31
st
 March every year. 
 
6 
20 Rectify the following transactions 
(i) Furniture purchased for Rs.10,000 wrongly debited to purchase account as Rs. 4,000 
(ii) Credit purchases from S & Co. for Rs. 6,000 were recorded in sales book. However, 
S&Co. was correctly credited. 
(iii) A discount of Rs.581 allowed to a customer has been credited to him as Rs.562 
(iv) Sales return book overcast by Rs.100 
(v) A sum of Rs. 800 written off as depreciation on machinery, were not posted to depreciation 
a/c. 
(vi) Goods of Rs.850 were returned to Bhardwaj. It was recorded in purchase book as Rs.580.  
 
6 
21 Journalise the following transactions in books of R:- 
(i)D?s promissory note for Rs. 1,000 which we had endorsed in favour of M dishonoured. M 
paid Rs. 20 as noting charges. We paid M by cheque. D pays Rs. 400 immediately and requests 
to draw a new bill for 3 months, for the balance amount along with interest @10% p.a. 
(ii) Our acceptance to M for Rs. 3,000 retired before due date, rebate allowed Rs.45. 
(iii) L?s acceptance to us for Rs. 10,000 which was sent to bank for collection was returned by 
the bank dishonoured. Noting charges paid by bank Rs.50. 
 
4+1+1 
22 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Enter the following transactions in a Three Column Cash Book:  
Date Particulars Amt 
1
st
 Apr?14 Cash in hand 
Bank overdraft 
36,000 
5,200 
2 Purchased goods for cash 9,600 
3 Deposited into bank 10,000 
5 Paid Kavita Rs. 1,250 in full settlement of  1,300 
14 Received cheque from Naresh in full settlement 
of Rs. 7,000 
6,700 
16 Cash sales Rs.4,700 out of which Rs.2,700 
deposited in bank 
 
20 Withdrew from bank for personal use 800 
24 Bank charges 80 
30 Naresh?s cheque deposited into bank  
 
6 
23 Prepare Trading and Profit and Loss Account and Balance Sheet from the following Trial 
Balance and information as on 31
st
 March 2014. 
Particulars Dr. Amt Cr. Amt 
Machinery 1,63,200  
Capital a/c  1,25,000 
Bad Debts 1,500  
Provision for doubtful debts  3,500 
Debtors and Creditors  15,000 65,000 
Opening Stock 40,000  
Wages 20,000  
Purchases and Sales 1,69,000 2,80,200 
 Return inwards and outwards 11,500 8,000 
Carriage inwards 3,500  
Commission  4,500 
Cash 24,500  
Taxes and Insurance 10,000  
Rent 6,000  
Salaries 22,000  
 4,86,200 4,86,200 
8 
Page 4


 
 
      
Date:                        Class: XI 
Accountancy  (055) 
Time:3 hrs                                         M. M: 90 
General Instructions: 
1. All questions are compulsory 
2. Marks for each question are indicated against it 
3. Attempt all parts of a question at one place. 
4. Do write narrations with journal entries 
 
1 Is cash memo a source document or an accounting voucher? 
 
1 
2 Real accounts are related with:- 
(a) Capital 
(b) Assets 
(c) Liabilities 
(d) Income and gains 
 
1 
3 Jitender purchased goods from Ramesh having list price of Rs. 5,000 on cash basis at 8% trade 
discount and 5% cash discount. Half the amount was paid by him. The amount of discount 
account in his books will be: 
(a) Rs. 400             (b)Rs.250            (c) Rs.230       (d)Rs.115 
 
1 
4 An accountant feels that since sales book is maintained, there is no need to open sales account. 
Is he correct in his views? 
 
1 
5 A company purchased goods for Rs. 5,00,000 and sold 80% of such goods during the year. The 
market value of remaining goods was Rs. 90,000.The company valued the closing stock at cost. 
Is the company correct? 
 
1 
6 Distinguish between “Receipts and Payments account” and “Income and Expenditure account” 
on the basis of nature of items recorded therein. 
 
1 
7 How will you deal with following items while preparing the final accounts of a club for the 
year ending 31
st
 March 2014? 
Stock of stationery  Rs. 4,000(on 1.4.13)   and    Rs. 3,000(on 31.3.14) 
Creditors for stationery Rs.7,200(on 1.4.13)   and    Rs. 5,400(on 31.3.14) 
Amount paid for stationery during the year 2013-14 Rs.25,000. 
 
3 
8 From the following information calculate the amount of subscription to be credited to the 
Income & Expenditure account for the year ended 2013-14 
Subscription received during the year                         Rs. 80,000 
Subscription outstanding on 31.12.13                        Rs.26,000 
Subscription outstanding on 31.12.14                         Rs.6,000 
Subscription received in advance on 31.12.13            Rs.15,000 
Subscription received in advance on 31.12.14            Rs.10,000 
Subscription of Rs.2,000 are still in arrears for the year 2012-13. 
 
3 
9 (i) From the following information calculate operating profit: 
Net profit                          Rs.2,00,000 
Rent received                    Rs.20,000 
Gain on sale of machine   Rs. 30,000 
Interest paid on loans        Rs.40,000 
Charity                               Rs.4,000 
(ii) G Ltd imported from Germany one machinery for sale in India and another machinery 
for production purposes. Will you treat them goods or fixed assets?  
2+1 
XI A 2 of 4 
 
10 Shri Avtar establishes a small business and has not maintained regular books and records his 
transactions through accounting equation. Is his decision correct? What is the effect thereof? 
 
3 
11 Identify the limitations of accounting highlighted in the below mentioned statements:- 
(i)Accounts may be manipulated to conceal vital facts. 
(ii)Estimations are done like provision for bad debts, useful life of an asset. 
(iii)The amount of cash that a firm may realize by selling its assets is never known. 
 
3 
12 Identify and define the following types of expenditure:- 
(a) Such expenditure is shown on the assets side of Balance Sheet 
(b) Such expenditure is shown on the debit side of Profit and Loss account. 
 
3 
13 On 31
st
 Jan 2014 the pass book of Mr. Gupta showed a debit balance of Rs. 41,000. Prepare a 
Bank Reconciliation statement from the following particulars:- 
(i) Cheques amounting to Rs. 15,600 were drawn on 27
th
 January, 2014. Out of which 
cheques for Rs. 11,000 were encashed upto 31
st
 Jan 2014. 
 (ii)   A wrong debit of Rs.800 has been given by the bank in the pass book. 
(iii)  A cheque for Rs. 200 was credited in the pass book but was not recorded in the cash 
book. 
(iv) Cheques amounting to Rs. 21,000 were deposited for collection. But out of these cheques 
for Rs. 7,400 have been credited in the pass book on 5
th
 Feb 2014. 
(v) A cheque for Rs. 1,000 was returned dishonoured by the bank and was debited in the pass 
book only. 
(vi) Interest on overdraft amounting to Rs.100 was not entered in the cash book. 
4 
14 
 
 
 
 
 
 
 
 
 
 
 
(i) Pass the opening entry: 
      Furniture Rs.50,000; weighing machine Rs.15,000;computers Rs.30,000; security deposit 
against rent Rs.50,000; debtors Rs.2,000; stock Rs.75,000; bank balance Rs.1,10,000; 
cash in hand Rs. 35,000 ; creditors for goods Rs. 1,25,000; rent payable Rs.10,000; loan 
from bank Rs. 1,50,000. 
(ii) Open an account for debtor, Gopal in the ledger of Mohan Ltd. and post the following 
transactions in Gopal?s a/c: 
(a) Goods sold to Gopal on credit Rs.15,000 
(b) Goods returned by  Gopal  Rs. 2,000 
(c) Gopal declared insolvent and received Rs. 10,000 as full and final compensation from 
his official receiver. 
2+2 
15 The chief accountant of R Ltd. has taken a decision that adjustments for accrued income and 
prepaid expenses should not be adjusted while preparing the financial statements. As a result 
recognition of expenses in the same period as associated revenues could not be done in a fair 
manner. 
(i)Whether his decision is correct? give reasons 
(ii)Which accounting concepts are not being followed? Identify and explain them. 
 
4 
16 There are certain attributes that makes the accounting information useful to users. List and 
explain them. 
 
4 
17 Mr. Kamal started a business with Rs. 12,00,000 as cash and furniture of Rs.8,00,000. He 
maintains his books of account on „Single entry System?. His books provide the following 
information at the year end: 
Creditors – Rs. 2,00,000         Bank(Cr. Bal) – Rs.3,80,000         Debtors – Rs. 1,60,000  
Stock – Rs. 4,00,000  Bills receivable– Rs. 1,40,000        machinery- Rs. 25,00,000 
During the year he withdrew Rs. 25,000 per month  and sold his personal investments of Rs. 
6,00,000  @ 50% premium and brought the money into his business. You are required to 
ascertain the profit or loss made by him during the year . Also prepare the Statement of affairs 
at the year end  after considering the following adjustments: 
(i) Furniture is to be depreciated at 25%. 
(ii) Debtors worth Rs. 20,000 proved bad. 
 
4 
18 Computer software can be divided into three categories. Name and explain them. 
 
6 
XI A 3 of 4 
 
19 Ladoo Ltd purchased a machinery for Rs. 36,000 and spent Rs. 4,000 on its overhauling on 1
st
 
October 2009. Depreciation is provided @10% p.a. on Diminishing Balance Method . On 1
st
 
January 2012, one –fourth of machinery was found unsuitable and disposed off for Rs.6,000. 
On the same date a new machinery at a cost of Rs.15,000 was purchased. Write Machinery a/c 
for 3 years. The accounts are closed on 31
st
 March every year. 
 
6 
20 Rectify the following transactions 
(i) Furniture purchased for Rs.10,000 wrongly debited to purchase account as Rs. 4,000 
(ii) Credit purchases from S & Co. for Rs. 6,000 were recorded in sales book. However, 
S&Co. was correctly credited. 
(iii) A discount of Rs.581 allowed to a customer has been credited to him as Rs.562 
(iv) Sales return book overcast by Rs.100 
(v) A sum of Rs. 800 written off as depreciation on machinery, were not posted to depreciation 
a/c. 
(vi) Goods of Rs.850 were returned to Bhardwaj. It was recorded in purchase book as Rs.580.  
 
6 
21 Journalise the following transactions in books of R:- 
(i)D?s promissory note for Rs. 1,000 which we had endorsed in favour of M dishonoured. M 
paid Rs. 20 as noting charges. We paid M by cheque. D pays Rs. 400 immediately and requests 
to draw a new bill for 3 months, for the balance amount along with interest @10% p.a. 
(ii) Our acceptance to M for Rs. 3,000 retired before due date, rebate allowed Rs.45. 
(iii) L?s acceptance to us for Rs. 10,000 which was sent to bank for collection was returned by 
the bank dishonoured. Noting charges paid by bank Rs.50. 
 
4+1+1 
22 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Enter the following transactions in a Three Column Cash Book:  
Date Particulars Amt 
1
st
 Apr?14 Cash in hand 
Bank overdraft 
36,000 
5,200 
2 Purchased goods for cash 9,600 
3 Deposited into bank 10,000 
5 Paid Kavita Rs. 1,250 in full settlement of  1,300 
14 Received cheque from Naresh in full settlement 
of Rs. 7,000 
6,700 
16 Cash sales Rs.4,700 out of which Rs.2,700 
deposited in bank 
 
20 Withdrew from bank for personal use 800 
24 Bank charges 80 
30 Naresh?s cheque deposited into bank  
 
6 
23 Prepare Trading and Profit and Loss Account and Balance Sheet from the following Trial 
Balance and information as on 31
st
 March 2014. 
Particulars Dr. Amt Cr. Amt 
Machinery 1,63,200  
Capital a/c  1,25,000 
Bad Debts 1,500  
Provision for doubtful debts  3,500 
Debtors and Creditors  15,000 65,000 
Opening Stock 40,000  
Wages 20,000  
Purchases and Sales 1,69,000 2,80,200 
 Return inwards and outwards 11,500 8,000 
Carriage inwards 3,500  
Commission  4,500 
Cash 24,500  
Taxes and Insurance 10,000  
Rent 6,000  
Salaries 22,000  
 4,86,200 4,86,200 
8 
XI A 4 of 4 
 
  Adjustments:-  
(i) Closing stock was valued at Rs.21,500 
(ii) Commission include Rs.1,500 for work to be performed next year. 
(iii)Salaries have been paid for 11 months. 
(iv) Maintain provision for doubtful debts @ 5% on debtors. 
(v) 10% of the wages paid are for installation of machinery. 
(vi) Out of the rent paid, 1/3
rd
 of the premises is used by the owner for residential purpose. 
(vii) Goods worth Rs. 2,500 are lost due to fire in the godown on 31.3.14. Insurance 
company admitted only 40% of the claim. 
  
24 Following is the Receipts and Payment account of Rajdhani Club for the year ended  
31
st
 Dec. 2014: 
Receipts Amt Payments Amt 
To balance b/d 10,000 By salary 15,000 
To subscription 52,000 By office expenses 6,000 
To entrance fees 5,000 By Tournament expenses 31,000 
To Tournament fund 26,000 By Insurance 2,000 
To sale of old newspaper 1,000 By expenses for new year?s 
party 
1,200 
To legacy 37,000 By sports equipment 
purchased 
40,000 
To donations 9,000 By 12%  investments 
purchased(on 1
st
 Sept 14) 
30,000 
To new year?s  party 
collection 
1,500 By balance c/d 18,100 
To furniture sold(book 
value Rs.2,000) 
1,800   
 1,43,300  1,43,300 
Other information: 
(i) Salary outstanding on 31.12.14 is Rs. Rs.1,500. Also salary outstanding on 31.12.13 is 
Rs.1,000. 
(ii) On 1.1.14 the club had building Rs.75,000 and sports equipment Rs.30,000. 
Depreciation charged on these items including purchases was 10%. 
(iii)20% of the entrance fees is to be capitalized. 
(iv) The club has 1000 members each paying Rs.55 as subscription for the entire year. 
Prepare Income and Expenditure account of the club for the year ended 31.12.14 
 
 
8 
  
Page 5


 
 
      
Date:                        Class: XI 
Accountancy  (055) 
Time:3 hrs                                         M. M: 90 
General Instructions: 
1. All questions are compulsory 
2. Marks for each question are indicated against it 
3. Attempt all parts of a question at one place. 
4. Do write narrations with journal entries 
 
1 Is cash memo a source document or an accounting voucher? 
 
1 
2 Real accounts are related with:- 
(a) Capital 
(b) Assets 
(c) Liabilities 
(d) Income and gains 
 
1 
3 Jitender purchased goods from Ramesh having list price of Rs. 5,000 on cash basis at 8% trade 
discount and 5% cash discount. Half the amount was paid by him. The amount of discount 
account in his books will be: 
(a) Rs. 400             (b)Rs.250            (c) Rs.230       (d)Rs.115 
 
1 
4 An accountant feels that since sales book is maintained, there is no need to open sales account. 
Is he correct in his views? 
 
1 
5 A company purchased goods for Rs. 5,00,000 and sold 80% of such goods during the year. The 
market value of remaining goods was Rs. 90,000.The company valued the closing stock at cost. 
Is the company correct? 
 
1 
6 Distinguish between “Receipts and Payments account” and “Income and Expenditure account” 
on the basis of nature of items recorded therein. 
 
1 
7 How will you deal with following items while preparing the final accounts of a club for the 
year ending 31
st
 March 2014? 
Stock of stationery  Rs. 4,000(on 1.4.13)   and    Rs. 3,000(on 31.3.14) 
Creditors for stationery Rs.7,200(on 1.4.13)   and    Rs. 5,400(on 31.3.14) 
Amount paid for stationery during the year 2013-14 Rs.25,000. 
 
3 
8 From the following information calculate the amount of subscription to be credited to the 
Income & Expenditure account for the year ended 2013-14 
Subscription received during the year                         Rs. 80,000 
Subscription outstanding on 31.12.13                        Rs.26,000 
Subscription outstanding on 31.12.14                         Rs.6,000 
Subscription received in advance on 31.12.13            Rs.15,000 
Subscription received in advance on 31.12.14            Rs.10,000 
Subscription of Rs.2,000 are still in arrears for the year 2012-13. 
 
3 
9 (i) From the following information calculate operating profit: 
Net profit                          Rs.2,00,000 
Rent received                    Rs.20,000 
Gain on sale of machine   Rs. 30,000 
Interest paid on loans        Rs.40,000 
Charity                               Rs.4,000 
(ii) G Ltd imported from Germany one machinery for sale in India and another machinery 
for production purposes. Will you treat them goods or fixed assets?  
2+1 
XI A 2 of 4 
 
10 Shri Avtar establishes a small business and has not maintained regular books and records his 
transactions through accounting equation. Is his decision correct? What is the effect thereof? 
 
3 
11 Identify the limitations of accounting highlighted in the below mentioned statements:- 
(i)Accounts may be manipulated to conceal vital facts. 
(ii)Estimations are done like provision for bad debts, useful life of an asset. 
(iii)The amount of cash that a firm may realize by selling its assets is never known. 
 
3 
12 Identify and define the following types of expenditure:- 
(a) Such expenditure is shown on the assets side of Balance Sheet 
(b) Such expenditure is shown on the debit side of Profit and Loss account. 
 
3 
13 On 31
st
 Jan 2014 the pass book of Mr. Gupta showed a debit balance of Rs. 41,000. Prepare a 
Bank Reconciliation statement from the following particulars:- 
(i) Cheques amounting to Rs. 15,600 were drawn on 27
th
 January, 2014. Out of which 
cheques for Rs. 11,000 were encashed upto 31
st
 Jan 2014. 
 (ii)   A wrong debit of Rs.800 has been given by the bank in the pass book. 
(iii)  A cheque for Rs. 200 was credited in the pass book but was not recorded in the cash 
book. 
(iv) Cheques amounting to Rs. 21,000 were deposited for collection. But out of these cheques 
for Rs. 7,400 have been credited in the pass book on 5
th
 Feb 2014. 
(v) A cheque for Rs. 1,000 was returned dishonoured by the bank and was debited in the pass 
book only. 
(vi) Interest on overdraft amounting to Rs.100 was not entered in the cash book. 
4 
14 
 
 
 
 
 
 
 
 
 
 
 
(i) Pass the opening entry: 
      Furniture Rs.50,000; weighing machine Rs.15,000;computers Rs.30,000; security deposit 
against rent Rs.50,000; debtors Rs.2,000; stock Rs.75,000; bank balance Rs.1,10,000; 
cash in hand Rs. 35,000 ; creditors for goods Rs. 1,25,000; rent payable Rs.10,000; loan 
from bank Rs. 1,50,000. 
(ii) Open an account for debtor, Gopal in the ledger of Mohan Ltd. and post the following 
transactions in Gopal?s a/c: 
(a) Goods sold to Gopal on credit Rs.15,000 
(b) Goods returned by  Gopal  Rs. 2,000 
(c) Gopal declared insolvent and received Rs. 10,000 as full and final compensation from 
his official receiver. 
2+2 
15 The chief accountant of R Ltd. has taken a decision that adjustments for accrued income and 
prepaid expenses should not be adjusted while preparing the financial statements. As a result 
recognition of expenses in the same period as associated revenues could not be done in a fair 
manner. 
(i)Whether his decision is correct? give reasons 
(ii)Which accounting concepts are not being followed? Identify and explain them. 
 
4 
16 There are certain attributes that makes the accounting information useful to users. List and 
explain them. 
 
4 
17 Mr. Kamal started a business with Rs. 12,00,000 as cash and furniture of Rs.8,00,000. He 
maintains his books of account on „Single entry System?. His books provide the following 
information at the year end: 
Creditors – Rs. 2,00,000         Bank(Cr. Bal) – Rs.3,80,000         Debtors – Rs. 1,60,000  
Stock – Rs. 4,00,000  Bills receivable– Rs. 1,40,000        machinery- Rs. 25,00,000 
During the year he withdrew Rs. 25,000 per month  and sold his personal investments of Rs. 
6,00,000  @ 50% premium and brought the money into his business. You are required to 
ascertain the profit or loss made by him during the year . Also prepare the Statement of affairs 
at the year end  after considering the following adjustments: 
(i) Furniture is to be depreciated at 25%. 
(ii) Debtors worth Rs. 20,000 proved bad. 
 
4 
18 Computer software can be divided into three categories. Name and explain them. 
 
6 
XI A 3 of 4 
 
19 Ladoo Ltd purchased a machinery for Rs. 36,000 and spent Rs. 4,000 on its overhauling on 1
st
 
October 2009. Depreciation is provided @10% p.a. on Diminishing Balance Method . On 1
st
 
January 2012, one –fourth of machinery was found unsuitable and disposed off for Rs.6,000. 
On the same date a new machinery at a cost of Rs.15,000 was purchased. Write Machinery a/c 
for 3 years. The accounts are closed on 31
st
 March every year. 
 
6 
20 Rectify the following transactions 
(i) Furniture purchased for Rs.10,000 wrongly debited to purchase account as Rs. 4,000 
(ii) Credit purchases from S & Co. for Rs. 6,000 were recorded in sales book. However, 
S&Co. was correctly credited. 
(iii) A discount of Rs.581 allowed to a customer has been credited to him as Rs.562 
(iv) Sales return book overcast by Rs.100 
(v) A sum of Rs. 800 written off as depreciation on machinery, were not posted to depreciation 
a/c. 
(vi) Goods of Rs.850 were returned to Bhardwaj. It was recorded in purchase book as Rs.580.  
 
6 
21 Journalise the following transactions in books of R:- 
(i)D?s promissory note for Rs. 1,000 which we had endorsed in favour of M dishonoured. M 
paid Rs. 20 as noting charges. We paid M by cheque. D pays Rs. 400 immediately and requests 
to draw a new bill for 3 months, for the balance amount along with interest @10% p.a. 
(ii) Our acceptance to M for Rs. 3,000 retired before due date, rebate allowed Rs.45. 
(iii) L?s acceptance to us for Rs. 10,000 which was sent to bank for collection was returned by 
the bank dishonoured. Noting charges paid by bank Rs.50. 
 
4+1+1 
22 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Enter the following transactions in a Three Column Cash Book:  
Date Particulars Amt 
1
st
 Apr?14 Cash in hand 
Bank overdraft 
36,000 
5,200 
2 Purchased goods for cash 9,600 
3 Deposited into bank 10,000 
5 Paid Kavita Rs. 1,250 in full settlement of  1,300 
14 Received cheque from Naresh in full settlement 
of Rs. 7,000 
6,700 
16 Cash sales Rs.4,700 out of which Rs.2,700 
deposited in bank 
 
20 Withdrew from bank for personal use 800 
24 Bank charges 80 
30 Naresh?s cheque deposited into bank  
 
6 
23 Prepare Trading and Profit and Loss Account and Balance Sheet from the following Trial 
Balance and information as on 31
st
 March 2014. 
Particulars Dr. Amt Cr. Amt 
Machinery 1,63,200  
Capital a/c  1,25,000 
Bad Debts 1,500  
Provision for doubtful debts  3,500 
Debtors and Creditors  15,000 65,000 
Opening Stock 40,000  
Wages 20,000  
Purchases and Sales 1,69,000 2,80,200 
 Return inwards and outwards 11,500 8,000 
Carriage inwards 3,500  
Commission  4,500 
Cash 24,500  
Taxes and Insurance 10,000  
Rent 6,000  
Salaries 22,000  
 4,86,200 4,86,200 
8 
XI A 4 of 4 
 
  Adjustments:-  
(i) Closing stock was valued at Rs.21,500 
(ii) Commission include Rs.1,500 for work to be performed next year. 
(iii)Salaries have been paid for 11 months. 
(iv) Maintain provision for doubtful debts @ 5% on debtors. 
(v) 10% of the wages paid are for installation of machinery. 
(vi) Out of the rent paid, 1/3
rd
 of the premises is used by the owner for residential purpose. 
(vii) Goods worth Rs. 2,500 are lost due to fire in the godown on 31.3.14. Insurance 
company admitted only 40% of the claim. 
  
24 Following is the Receipts and Payment account of Rajdhani Club for the year ended  
31
st
 Dec. 2014: 
Receipts Amt Payments Amt 
To balance b/d 10,000 By salary 15,000 
To subscription 52,000 By office expenses 6,000 
To entrance fees 5,000 By Tournament expenses 31,000 
To Tournament fund 26,000 By Insurance 2,000 
To sale of old newspaper 1,000 By expenses for new year?s 
party 
1,200 
To legacy 37,000 By sports equipment 
purchased 
40,000 
To donations 9,000 By 12%  investments 
purchased(on 1
st
 Sept 14) 
30,000 
To new year?s  party 
collection 
1,500 By balance c/d 18,100 
To furniture sold(book 
value Rs.2,000) 
1,800   
 1,43,300  1,43,300 
Other information: 
(i) Salary outstanding on 31.12.14 is Rs. Rs.1,500. Also salary outstanding on 31.12.13 is 
Rs.1,000. 
(ii) On 1.1.14 the club had building Rs.75,000 and sports equipment Rs.30,000. 
Depreciation charged on these items including purchases was 10%. 
(iii)20% of the entrance fees is to be capitalized. 
(iv) The club has 1000 members each paying Rs.55 as subscription for the entire year. 
Prepare Income and Expenditure account of the club for the year ended 31.12.14 
 
 
8 
  
Accountancy - answer key 
Date:                         Class: XI 
Time:3 hrs                                         M. M: 90 
General Instructions: 
1. All questions are compulsory 
2. Marks for each question are indicated against it 
3. Attempt all parts of a question at one place. 
4. Do write narrations with journal entries 
 
 
1 Is cash memo a source document or an accounting voucher? 
Ans- source document. 
1 
2 Real accounts are related with:- 
(a) Capital 
(b) Assets 
(c) Liabilities 
(d) Income and gains 
Ans- (b) 
1 
3 Jitender purchased goods from Ramesh having list price of Rs. 5,000 on cash basis at 8% trade 
discount and 5% cash discount. Half the amount was paid by him . The amount of discount account in 
his books will be: 
(a) Rs. 400             (b)Rs.250            (c) Rs.230       (d)Rs.115 
Ans- (d) 
1 
4 An accountant feels that since sales book is maintained, there is no need to open sales account. Is he 
correct in his views? 
Ans- No, as sales book shows only credit transactions and sales a/c shows both credit and cash 
transactions. 
1 
5 A company purchased goods for Rs. 5,00,000 and sold 80% of such goods during the year. The market 
value of remaining goods was Rs. 90,000.The company valued the closing stock at cost. Is the 
company correct? 
Ans- No,it has violated prudence principle.  
1 
6 Distinguish between “Receipts and payments account” and “Income and Expenditure account” on the 
basis of nature of items recorded therein. 
Ans- R&P records cap and revenue items whereas I & E a/c records on revenue items. 
1 
7 How will you deal with following items while preparing the final accounts of a club for the year 
ending 31
st
 March 2014. 
Stock of stationery  Rs. 4,000(on 1.4.13)   and    Rs. 3,000(on 31.3.14) 
Creditors for stationery Rs.7,200(on 1.4.13)   and    Rs. 5,400(on 31.3.14) 
Amount paid for stationery during the year 2013-14 Rs.25,000. 
Ans- B/S asset side- st of stat of Rs. 3,000                               0.5mk 
Liab side – Rs. 5,400 (crs)                                                          0.5mk 
I & E a/c dr side = 25,000- 7,200+ 5400+4000-3000= 24,200               2mk 
3 
8 From the following information calculate the amount of subscription to be credited to the Income & 
Expenditure account for the year 2013-14 
Subscription received during the year                         Rs. 80,000 
Subscription outstanding on 31.12.13                        Rs.26,000 
Subscription outstanding on 31.12.14                         Rs.6,000 
Subscription received in advance on 31.12.13            Rs.15,000 
Subscription received in advance on 31.12.14            Rs.10,000 
Subscription of Rs.2,000 are still in arrears for the year 2012-13. 
Ans-  80,000-24,000(1mk)+4,000+15,000-10,000=65,000    (rest all 0.5 mk incl ans) 
3 
9 (i) From the following information calculate operating profit: 2+1 
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