Class 11 Accountancy Previous Year Paper - 3 | Accountancy Class 11 - Commerce PDF Download

 Page 1


 
 
      
Date:                        Class: XI 
Accountancy (Set -B) 
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 debit note a source document or an accounting voucher? 
 
1 
2 Nominal accounts are related with:- 
(a) Capital 
(b) Assets 
(c) Liabilities 
(d) Income and gains 
 
1 
3 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 
4 An accountant feels that since cash book is maintained, there is no need to open bank account. Is he 
correct in his views? 
 
1 
5 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 
6 Distinguish between “Receipt and Payment account” and “Income and Expenditure account” on the 
basis of purpose. 
 
1 
7 (i) From the following information calculate operating profit: 
Net profit                         Rs.4,00,000 
Rent received                    Rs.40,000 
Gain on sale of machine   Rs. 60,000 
Interest paid on loans       Rs.80,000 
Charity                             Rs.8,000 
(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 
8 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 
9 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. 
3 
Page 2


 
 
      
Date:                        Class: XI 
Accountancy (Set -B) 
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 debit note a source document or an accounting voucher? 
 
1 
2 Nominal accounts are related with:- 
(a) Capital 
(b) Assets 
(c) Liabilities 
(d) Income and gains 
 
1 
3 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 
4 An accountant feels that since cash book is maintained, there is no need to open bank account. Is he 
correct in his views? 
 
1 
5 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 
6 Distinguish between “Receipt and Payment account” and “Income and Expenditure account” on the 
basis of purpose. 
 
1 
7 (i) From the following information calculate operating profit: 
Net profit                         Rs.4,00,000 
Rent received                    Rs.40,000 
Gain on sale of machine   Rs. 60,000 
Interest paid on loans       Rs.80,000 
Charity                             Rs.8,000 
(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 
8 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 
9 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. 
3 
XI B 2 of 4 
 
10 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 
11 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 
12 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 
13 (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.30,000 
(b)Goods returned by  Gopal  Rs. 4,000 
(c) Gopal declared insolvent and received Rs. 20,000 as full and final compensation from 
his official receiver. 
 
2+2 
14 On 31
st
 Dec 2014 the pass book of Mr. Ashok showed a debit balance of Rs. 12,000. Prepare a Bank 
Reconciliation statement from the following particulars:- 
(i) On 30
th
 December 2014, cheques had been issued for Rs. 70,000 of which cheques worth Rs. 
3,000 only has been encashed upto 31
st
 December.  
 (ii)   Cheques amounting to Rs. 3,500 had been paid into the bank for collection but of these only 
Rs.500 had been credited in the pass book. 
(iii)The bank has charged Rs.500 as interest on overdraft & the intimation of which has been 
received on 2
nd
 January 2015. 
(iv) Bank has collected Rs.600 directly in respect of interest on Mr. Ashok?s investment. Mr. 
Ashok has no knowledge of it. 
(v) A cheque for Rs. 1,000 was returned dishonoured by the bank and was debited in the pass 
book only. 
(vi) A cheque of Rs.200 has been debited in bank column of cash book of Mr. Ashok but it was 
not sent to bank at all. 
 
4 
15 There are certain attributes that makes the accounting information useful to users. List and explain 
them. 
 
4 
16 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 
17 Mr. Kamal started a business with Rs. 6,00,000 as cash and furniture of Rs.4,00,000. He maintains 
his books of account on „Single entry System?. His books provide the following information at the 
year end: 
Creditors – Rs. 1,00,000         Bank(Cr. Bal) – Rs.1,90,000         Debtors – Rs. 80,000  
Stock – Rs. 2,00,000  Bills receivable– Rs. 70,000        machinery- Rs. 12,50,000 
During the year he withdrew Rs. 12,500 per month and sold his personal investments of Rs. 3,00,000  
@ 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 also after 
considering the following adjustments: 
(i) Furniture is to be depreciated at 25%. 
(ii) Debtors worth Rs. 10,000 proved bad. 
4 
Page 3


 
 
      
Date:                        Class: XI 
Accountancy (Set -B) 
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 debit note a source document or an accounting voucher? 
 
1 
2 Nominal accounts are related with:- 
(a) Capital 
(b) Assets 
(c) Liabilities 
(d) Income and gains 
 
1 
3 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 
4 An accountant feels that since cash book is maintained, there is no need to open bank account. Is he 
correct in his views? 
 
1 
5 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 
6 Distinguish between “Receipt and Payment account” and “Income and Expenditure account” on the 
basis of purpose. 
 
1 
7 (i) From the following information calculate operating profit: 
Net profit                         Rs.4,00,000 
Rent received                    Rs.40,000 
Gain on sale of machine   Rs. 60,000 
Interest paid on loans       Rs.80,000 
Charity                             Rs.8,000 
(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 
8 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 
9 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. 
3 
XI B 2 of 4 
 
10 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 
11 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 
12 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 
13 (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.30,000 
(b)Goods returned by  Gopal  Rs. 4,000 
(c) Gopal declared insolvent and received Rs. 20,000 as full and final compensation from 
his official receiver. 
 
2+2 
14 On 31
st
 Dec 2014 the pass book of Mr. Ashok showed a debit balance of Rs. 12,000. Prepare a Bank 
Reconciliation statement from the following particulars:- 
(i) On 30
th
 December 2014, cheques had been issued for Rs. 70,000 of which cheques worth Rs. 
3,000 only has been encashed upto 31
st
 December.  
 (ii)   Cheques amounting to Rs. 3,500 had been paid into the bank for collection but of these only 
Rs.500 had been credited in the pass book. 
(iii)The bank has charged Rs.500 as interest on overdraft & the intimation of which has been 
received on 2
nd
 January 2015. 
(iv) Bank has collected Rs.600 directly in respect of interest on Mr. Ashok?s investment. Mr. 
Ashok has no knowledge of it. 
(v) A cheque for Rs. 1,000 was returned dishonoured by the bank and was debited in the pass 
book only. 
(vi) A cheque of Rs.200 has been debited in bank column of cash book of Mr. Ashok but it was 
not sent to bank at all. 
 
4 
15 There are certain attributes that makes the accounting information useful to users. List and explain 
them. 
 
4 
16 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 
17 Mr. Kamal started a business with Rs. 6,00,000 as cash and furniture of Rs.4,00,000. He maintains 
his books of account on „Single entry System?. His books provide the following information at the 
year end: 
Creditors – Rs. 1,00,000         Bank(Cr. Bal) – Rs.1,90,000         Debtors – Rs. 80,000  
Stock – Rs. 2,00,000  Bills receivable– Rs. 70,000        machinery- Rs. 12,50,000 
During the year he withdrew Rs. 12,500 per month and sold his personal investments of Rs. 3,00,000  
@ 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 also after 
considering the following adjustments: 
(i) Furniture is to be depreciated at 25%. 
(ii) Debtors worth Rs. 10,000 proved bad. 
4 
XI B 3 of 4 
 
18 Accounting software can be divided into three categories. Name and explain them. 
 
6 
19 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Enter the following transactions in a three columns cash book  
Date Particulars Amt 
1
st
 Apr?14 Cash in hand 
Bank overdraft 
18,000 
2,600 
2 Purchased goods for cash 4,800 
3 Deposited into bank 5,000 
5 Paid Kavita Rs. 625 in full settlement of  650 
14 Received cheque from Naresh in full settlement 
of Rs. 3,500 
3350 
16 Cash sales Rs.2,350 out of which Rs.1,350 
deposited in bank 
 
20 Withdrew from bank for personal use 400 
24 Bank charges 40 
30 Naresh?s cheque deposited into bank  
 
6 
20 Rectify the following transactions 
(i) Rs. 825,the total of purchase return book has been posted to the debit of sales return book. 
(ii) Sales book undercast by Rs.1,000 
(iii)A cheque of Rs.5,000 received from Ashish was dishonoured and was debited to discount a/c. 
(iv) Pooja was paid cash Rs. 2,800 but Jaya was debited by Rs.2,000.  
(v) An item of prepaid insurance of Rs.500 relating to previous year was omitted to be brought 
forward. 
(vi) An item of Rs. 680 for sale was posted as Rs.860 in the Sales Account  
 
6 
21 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 
22 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 
23 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 
8 
Page 4


 
 
      
Date:                        Class: XI 
Accountancy (Set -B) 
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 debit note a source document or an accounting voucher? 
 
1 
2 Nominal accounts are related with:- 
(a) Capital 
(b) Assets 
(c) Liabilities 
(d) Income and gains 
 
1 
3 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 
4 An accountant feels that since cash book is maintained, there is no need to open bank account. Is he 
correct in his views? 
 
1 
5 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 
6 Distinguish between “Receipt and Payment account” and “Income and Expenditure account” on the 
basis of purpose. 
 
1 
7 (i) From the following information calculate operating profit: 
Net profit                         Rs.4,00,000 
Rent received                    Rs.40,000 
Gain on sale of machine   Rs. 60,000 
Interest paid on loans       Rs.80,000 
Charity                             Rs.8,000 
(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 
8 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 
9 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. 
3 
XI B 2 of 4 
 
10 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 
11 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 
12 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 
13 (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.30,000 
(b)Goods returned by  Gopal  Rs. 4,000 
(c) Gopal declared insolvent and received Rs. 20,000 as full and final compensation from 
his official receiver. 
 
2+2 
14 On 31
st
 Dec 2014 the pass book of Mr. Ashok showed a debit balance of Rs. 12,000. Prepare a Bank 
Reconciliation statement from the following particulars:- 
(i) On 30
th
 December 2014, cheques had been issued for Rs. 70,000 of which cheques worth Rs. 
3,000 only has been encashed upto 31
st
 December.  
 (ii)   Cheques amounting to Rs. 3,500 had been paid into the bank for collection but of these only 
Rs.500 had been credited in the pass book. 
(iii)The bank has charged Rs.500 as interest on overdraft & the intimation of which has been 
received on 2
nd
 January 2015. 
(iv) Bank has collected Rs.600 directly in respect of interest on Mr. Ashok?s investment. Mr. 
Ashok has no knowledge of it. 
(v) A cheque for Rs. 1,000 was returned dishonoured by the bank and was debited in the pass 
book only. 
(vi) A cheque of Rs.200 has been debited in bank column of cash book of Mr. Ashok but it was 
not sent to bank at all. 
 
4 
15 There are certain attributes that makes the accounting information useful to users. List and explain 
them. 
 
4 
16 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 
17 Mr. Kamal started a business with Rs. 6,00,000 as cash and furniture of Rs.4,00,000. He maintains 
his books of account on „Single entry System?. His books provide the following information at the 
year end: 
Creditors – Rs. 1,00,000         Bank(Cr. Bal) – Rs.1,90,000         Debtors – Rs. 80,000  
Stock – Rs. 2,00,000  Bills receivable– Rs. 70,000        machinery- Rs. 12,50,000 
During the year he withdrew Rs. 12,500 per month and sold his personal investments of Rs. 3,00,000  
@ 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 also after 
considering the following adjustments: 
(i) Furniture is to be depreciated at 25%. 
(ii) Debtors worth Rs. 10,000 proved bad. 
4 
XI B 3 of 4 
 
18 Accounting software can be divided into three categories. Name and explain them. 
 
6 
19 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Enter the following transactions in a three columns cash book  
Date Particulars Amt 
1
st
 Apr?14 Cash in hand 
Bank overdraft 
18,000 
2,600 
2 Purchased goods for cash 4,800 
3 Deposited into bank 5,000 
5 Paid Kavita Rs. 625 in full settlement of  650 
14 Received cheque from Naresh in full settlement 
of Rs. 3,500 
3350 
16 Cash sales Rs.2,350 out of which Rs.1,350 
deposited in bank 
 
20 Withdrew from bank for personal use 400 
24 Bank charges 40 
30 Naresh?s cheque deposited into bank  
 
6 
20 Rectify the following transactions 
(i) Rs. 825,the total of purchase return book has been posted to the debit of sales return book. 
(ii) Sales book undercast by Rs.1,000 
(iii)A cheque of Rs.5,000 received from Ashish was dishonoured and was debited to discount a/c. 
(iv) Pooja was paid cash Rs. 2,800 but Jaya was debited by Rs.2,000.  
(v) An item of prepaid insurance of Rs.500 relating to previous year was omitted to be brought 
forward. 
(vi) An item of Rs. 680 for sale was posted as Rs.860 in the Sales Account  
 
6 
21 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 
22 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 
23 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 
8 
XI B 4 of 4 
 
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 
 
24 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 
  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. 
 
8 
  
Page 5


 
 
      
Date:                        Class: XI 
Accountancy (Set -B) 
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 debit note a source document or an accounting voucher? 
 
1 
2 Nominal accounts are related with:- 
(a) Capital 
(b) Assets 
(c) Liabilities 
(d) Income and gains 
 
1 
3 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 
4 An accountant feels that since cash book is maintained, there is no need to open bank account. Is he 
correct in his views? 
 
1 
5 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 
6 Distinguish between “Receipt and Payment account” and “Income and Expenditure account” on the 
basis of purpose. 
 
1 
7 (i) From the following information calculate operating profit: 
Net profit                         Rs.4,00,000 
Rent received                    Rs.40,000 
Gain on sale of machine   Rs. 60,000 
Interest paid on loans       Rs.80,000 
Charity                             Rs.8,000 
(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 
8 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 
9 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. 
3 
XI B 2 of 4 
 
10 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 
11 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 
12 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 
13 (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.30,000 
(b)Goods returned by  Gopal  Rs. 4,000 
(c) Gopal declared insolvent and received Rs. 20,000 as full and final compensation from 
his official receiver. 
 
2+2 
14 On 31
st
 Dec 2014 the pass book of Mr. Ashok showed a debit balance of Rs. 12,000. Prepare a Bank 
Reconciliation statement from the following particulars:- 
(i) On 30
th
 December 2014, cheques had been issued for Rs. 70,000 of which cheques worth Rs. 
3,000 only has been encashed upto 31
st
 December.  
 (ii)   Cheques amounting to Rs. 3,500 had been paid into the bank for collection but of these only 
Rs.500 had been credited in the pass book. 
(iii)The bank has charged Rs.500 as interest on overdraft & the intimation of which has been 
received on 2
nd
 January 2015. 
(iv) Bank has collected Rs.600 directly in respect of interest on Mr. Ashok?s investment. Mr. 
Ashok has no knowledge of it. 
(v) A cheque for Rs. 1,000 was returned dishonoured by the bank and was debited in the pass 
book only. 
(vi) A cheque of Rs.200 has been debited in bank column of cash book of Mr. Ashok but it was 
not sent to bank at all. 
 
4 
15 There are certain attributes that makes the accounting information useful to users. List and explain 
them. 
 
4 
16 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 
17 Mr. Kamal started a business with Rs. 6,00,000 as cash and furniture of Rs.4,00,000. He maintains 
his books of account on „Single entry System?. His books provide the following information at the 
year end: 
Creditors – Rs. 1,00,000         Bank(Cr. Bal) – Rs.1,90,000         Debtors – Rs. 80,000  
Stock – Rs. 2,00,000  Bills receivable– Rs. 70,000        machinery- Rs. 12,50,000 
During the year he withdrew Rs. 12,500 per month and sold his personal investments of Rs. 3,00,000  
@ 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 also after 
considering the following adjustments: 
(i) Furniture is to be depreciated at 25%. 
(ii) Debtors worth Rs. 10,000 proved bad. 
4 
XI B 3 of 4 
 
18 Accounting software can be divided into three categories. Name and explain them. 
 
6 
19 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Enter the following transactions in a three columns cash book  
Date Particulars Amt 
1
st
 Apr?14 Cash in hand 
Bank overdraft 
18,000 
2,600 
2 Purchased goods for cash 4,800 
3 Deposited into bank 5,000 
5 Paid Kavita Rs. 625 in full settlement of  650 
14 Received cheque from Naresh in full settlement 
of Rs. 3,500 
3350 
16 Cash sales Rs.2,350 out of which Rs.1,350 
deposited in bank 
 
20 Withdrew from bank for personal use 400 
24 Bank charges 40 
30 Naresh?s cheque deposited into bank  
 
6 
20 Rectify the following transactions 
(i) Rs. 825,the total of purchase return book has been posted to the debit of sales return book. 
(ii) Sales book undercast by Rs.1,000 
(iii)A cheque of Rs.5,000 received from Ashish was dishonoured and was debited to discount a/c. 
(iv) Pooja was paid cash Rs. 2,800 but Jaya was debited by Rs.2,000.  
(v) An item of prepaid insurance of Rs.500 relating to previous year was omitted to be brought 
forward. 
(vi) An item of Rs. 680 for sale was posted as Rs.860 in the Sales Account  
 
6 
21 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 
22 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 
23 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 
8 
XI B 4 of 4 
 
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 
 
24 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 
  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. 
 
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 debit note a source document or an accounting voucher? 
Ans- accounting voucher. 
1 
2 Nominal accounts are related with:- 
(a) Capital 
(b) Assets 
(c) Liabilities 
(d) Income and gains 
Ans- (d) 
1 
3 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 
4 An accountant feels that since cash book is maintained, there is no need to open bank account. Is he 
correct in his views? 
Ans- Yes, as cash book is a principal book and a subsiary book. 
1 
5 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 
6 Distinguish between “Receipt and Payment account” and “Income and Expenditure account” on the 
basis of purpose 
Ans- R&P is prepared to show the diff btw two sides n bal c/d whereas I & E a/c to ascertain 
surplus/deficit 
1 
7 (i) From the following information calculate operating profit: 
Net profit                         Rs.4,00,000 
Rent received                    Rs.40,000 
Gain on sale of machine   Rs. 60,000 
Interest paid on loans       Rs.80,000 
Charity                             Rs.8,000 
(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?  
Ans- set A Q9 
2+1 
8 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- set A Q 7 
3 
9 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 
3