Class 11 Accountancy Previous Year Paper - 5 | Accountancy Class 11 - Commerce PDF Download

 Page 1


 
 
 
           
                     
Date:                                Class: XI 
Accountancy(055) 
Time:3 hrs                                                             M. M: 100 
General Instructions: 
1. All questions are compulsory 
2. Marks for each question are indicated against it.             
3. Attempt all parts of a question together. 
1 How is Accounting information useful for ‘Banks and Financial Institutions’? 
 
1 
2 The owner of the firm does not record his personal expenses in the firm’s books. Which 
principle is violated in this case? 
 
1 
3 Godrej Ltd imported from Germany one machinery for sale in India and another machinery 
for production purposes. Which will be treated as goods and which as fixed asset? 
 
1 
4 ‘Charity given through cash’ - State its effect on Accounting equation. 
 
1 
5 Differentiate between Trade Discount and Cash Discount on the basis of ‘nature’. 
 
1 
6 (i) What is a compound journal entry?  
(ii) Is Cash Book a Journal or a ledger? 
(iii) For what purposes is a journal proper used? 
 
3 
7 Comment upon the following statements by giving appropriate reasons: 
i. Accounting is not fully exact 
ii. Accounting information must be presented in such a way that only accounting 
people understands it. 
iii. Accounting information must be reliable. 
 
3 
8 ShriHariharan had started a new mid - sized business. He being new to accounting sought 
advice from a chartered accountant on maintenance of accounts. He was advised that he 
should follow Double Entry System of Accounting maintaining accounts on accrual basis. 
Some of his friends advised him to maintain accounts on Cash Basis of Accounting. He 
decided to follow the advice of the chartered accountant. Is the decision of Hariharan correct? 
Justify your answer by giving appropriate reasons. 
 
3 
9 From the following particulars, prepare the account of D. Budhiraja, the proprietor of a 
business: Rs.   
i. Capital introduced                                              30,000 
ii. Drawings made by him                                        6,500 
iii. Further capital introduced                                  22,000 
iv. Profit for the period                                             7,500 
 
3 
10 Explain the‘Imprest System’ of Petty Cash Book by giving an example. 
 
3 
 
11 Classify the following into per Modern or Traditional approach: 
i. Purchases A/c                                                v.  Accrued Income A/c 
ii. Rahul’s A/c (a supplier)                                vi. Trademarks A/c 
iii. Bad debts written off A/c                              vii. Commission received A/c   
iv.  Investments in XYZ Ltd                              viii. Purchase returns A/c      
 
 
 
4 
Page 2


 
 
 
           
                     
Date:                                Class: XI 
Accountancy(055) 
Time:3 hrs                                                             M. M: 100 
General Instructions: 
1. All questions are compulsory 
2. Marks for each question are indicated against it.             
3. Attempt all parts of a question together. 
1 How is Accounting information useful for ‘Banks and Financial Institutions’? 
 
1 
2 The owner of the firm does not record his personal expenses in the firm’s books. Which 
principle is violated in this case? 
 
1 
3 Godrej Ltd imported from Germany one machinery for sale in India and another machinery 
for production purposes. Which will be treated as goods and which as fixed asset? 
 
1 
4 ‘Charity given through cash’ - State its effect on Accounting equation. 
 
1 
5 Differentiate between Trade Discount and Cash Discount on the basis of ‘nature’. 
 
1 
6 (i) What is a compound journal entry?  
(ii) Is Cash Book a Journal or a ledger? 
(iii) For what purposes is a journal proper used? 
 
3 
7 Comment upon the following statements by giving appropriate reasons: 
i. Accounting is not fully exact 
ii. Accounting information must be presented in such a way that only accounting 
people understands it. 
iii. Accounting information must be reliable. 
 
3 
8 ShriHariharan had started a new mid - sized business. He being new to accounting sought 
advice from a chartered accountant on maintenance of accounts. He was advised that he 
should follow Double Entry System of Accounting maintaining accounts on accrual basis. 
Some of his friends advised him to maintain accounts on Cash Basis of Accounting. He 
decided to follow the advice of the chartered accountant. Is the decision of Hariharan correct? 
Justify your answer by giving appropriate reasons. 
 
3 
9 From the following particulars, prepare the account of D. Budhiraja, the proprietor of a 
business: Rs.   
i. Capital introduced                                              30,000 
ii. Drawings made by him                                        6,500 
iii. Further capital introduced                                  22,000 
iv. Profit for the period                                             7,500 
 
3 
10 Explain the‘Imprest System’ of Petty Cash Book by giving an example. 
 
3 
 
11 Classify the following into per Modern or Traditional approach: 
i. Purchases A/c                                                v.  Accrued Income A/c 
ii. Rahul’s A/c (a supplier)                                vi. Trademarks A/c 
iii. Bad debts written off A/c                              vii. Commission received A/c   
iv.  Investments in XYZ Ltd                              viii. Purchase returns A/c      
 
 
 
4 
XI A 2 of 4 
 
12 Define the following Accounting terms: 
i. Non – current liabilities 
ii. Current assets 
iii. Revenue receipts 
iv. Trade Payables 
4 
13 (i) X Ltd has the following assets and liabilities as on 31
st
 March, 2015. Ascertain his 
capital: 
Cash Rs.25,000; Bank Rs.47,500; Debtors Rs. 18,000; Creditors Rs. 22,000; Plant and 
Machinery Rs.80,000; Building Rs. 2,00,000; Furniture Rs. 24,000; Bills receivable Rs. 
56,500; Bills Payable Rs. 23,500.  
(ii) Capital as on 1
st
 April, 2014: Rs.50,000;   
Capital as on 31
st
March, 2015:Rs. 59,000;  
Additional capital invested: Rs.5,000;  
Amount withdrawn:Rs. 2,000. Find out profit earned or loss suffered. 
 
2 + 2 
14 i. Bought goods from Arun for Rs.2,00,000 at a trade discount of 15% and cash discount 
of 2%. Paid 80% amount immediately. Pass journal entry. 
ii. Sold goods costing Rs. 40,000 to Ashok for cash at a profit of 25% on cost less 20% 
trade discount and charged 8% Central Sales Tax and paid cartage on sales Rs.200. 
 
4 
15 Explain the following source documents: 
i. Invoice                                               iii. Credit Voucher 
ii. Transfer Voucher                               iv. Receipt    
 
4 
  
 
 
16 From the following information, draw up the Trial Balance in the books of Vimal Traders as 
on 31
st
 March, 2015: 
Building Rs. 77,000; Sales Rs. 1,04,000; Capital Rs. 73,600; Fixtures Rs. 5,600; Cash Rs. 
400; Creditors Rs. 52,600; Discount received Rs.3,000; Loan from Ram Rs. 10,000; Debtors 
Rs. 61,800; Interest on Ram’s loan Rs. 1,000; Purchases Rs. 1,00,000; Purchase Returns Rs. 
2,600. 
 
6 
17 Prepare an Accounting equation from the following information: 
i. Started business with cash Rs.2,75,000 and goods Rs.25,000 
ii. Bought goods for cash Rs.30,000 and on credit Rs.44,000 
iii. Goods costing Rs.50,000 sold at a profit of 25%; out of which Rs.25,000 is 
received in cash. 
iv. Building purchased from Sohan for Rs.10,00,000 by taking a loan of Rs. 8,00,000 
from SBI. 
v. Amountwithdrawn for personal use Rs.5,000. 
vi. Charge interest on drawings @5%. 
 
6 
18 Fill in the missing information in the following journal entries: 
                                                 JOURNAL 
S.No. Particulars L.F. Dr. Amt Cr. Amt 
i. ______________                Dr. 
______________                Dr. 
              To ___________ 
(Being goods of the list price of 
Rs.5,000 sold at 10% trade discount & 
2% cash discount) 
   
     ii. Chaturvedi’s A/c                     Dr. 
              To ____________ 
              To ___________ 
(Being Chaturvedi’s A/c settled, cash 
discount 3% )  
 
 5,000  
_________ 
6 
Page 3


 
 
 
           
                     
Date:                                Class: XI 
Accountancy(055) 
Time:3 hrs                                                             M. M: 100 
General Instructions: 
1. All questions are compulsory 
2. Marks for each question are indicated against it.             
3. Attempt all parts of a question together. 
1 How is Accounting information useful for ‘Banks and Financial Institutions’? 
 
1 
2 The owner of the firm does not record his personal expenses in the firm’s books. Which 
principle is violated in this case? 
 
1 
3 Godrej Ltd imported from Germany one machinery for sale in India and another machinery 
for production purposes. Which will be treated as goods and which as fixed asset? 
 
1 
4 ‘Charity given through cash’ - State its effect on Accounting equation. 
 
1 
5 Differentiate between Trade Discount and Cash Discount on the basis of ‘nature’. 
 
1 
6 (i) What is a compound journal entry?  
(ii) Is Cash Book a Journal or a ledger? 
(iii) For what purposes is a journal proper used? 
 
3 
7 Comment upon the following statements by giving appropriate reasons: 
i. Accounting is not fully exact 
ii. Accounting information must be presented in such a way that only accounting 
people understands it. 
iii. Accounting information must be reliable. 
 
3 
8 ShriHariharan had started a new mid - sized business. He being new to accounting sought 
advice from a chartered accountant on maintenance of accounts. He was advised that he 
should follow Double Entry System of Accounting maintaining accounts on accrual basis. 
Some of his friends advised him to maintain accounts on Cash Basis of Accounting. He 
decided to follow the advice of the chartered accountant. Is the decision of Hariharan correct? 
Justify your answer by giving appropriate reasons. 
 
3 
9 From the following particulars, prepare the account of D. Budhiraja, the proprietor of a 
business: Rs.   
i. Capital introduced                                              30,000 
ii. Drawings made by him                                        6,500 
iii. Further capital introduced                                  22,000 
iv. Profit for the period                                             7,500 
 
3 
10 Explain the‘Imprest System’ of Petty Cash Book by giving an example. 
 
3 
 
11 Classify the following into per Modern or Traditional approach: 
i. Purchases A/c                                                v.  Accrued Income A/c 
ii. Rahul’s A/c (a supplier)                                vi. Trademarks A/c 
iii. Bad debts written off A/c                              vii. Commission received A/c   
iv.  Investments in XYZ Ltd                              viii. Purchase returns A/c      
 
 
 
4 
XI A 2 of 4 
 
12 Define the following Accounting terms: 
i. Non – current liabilities 
ii. Current assets 
iii. Revenue receipts 
iv. Trade Payables 
4 
13 (i) X Ltd has the following assets and liabilities as on 31
st
 March, 2015. Ascertain his 
capital: 
Cash Rs.25,000; Bank Rs.47,500; Debtors Rs. 18,000; Creditors Rs. 22,000; Plant and 
Machinery Rs.80,000; Building Rs. 2,00,000; Furniture Rs. 24,000; Bills receivable Rs. 
56,500; Bills Payable Rs. 23,500.  
(ii) Capital as on 1
st
 April, 2014: Rs.50,000;   
Capital as on 31
st
March, 2015:Rs. 59,000;  
Additional capital invested: Rs.5,000;  
Amount withdrawn:Rs. 2,000. Find out profit earned or loss suffered. 
 
2 + 2 
14 i. Bought goods from Arun for Rs.2,00,000 at a trade discount of 15% and cash discount 
of 2%. Paid 80% amount immediately. Pass journal entry. 
ii. Sold goods costing Rs. 40,000 to Ashok for cash at a profit of 25% on cost less 20% 
trade discount and charged 8% Central Sales Tax and paid cartage on sales Rs.200. 
 
4 
15 Explain the following source documents: 
i. Invoice                                               iii. Credit Voucher 
ii. Transfer Voucher                               iv. Receipt    
 
4 
  
 
 
16 From the following information, draw up the Trial Balance in the books of Vimal Traders as 
on 31
st
 March, 2015: 
Building Rs. 77,000; Sales Rs. 1,04,000; Capital Rs. 73,600; Fixtures Rs. 5,600; Cash Rs. 
400; Creditors Rs. 52,600; Discount received Rs.3,000; Loan from Ram Rs. 10,000; Debtors 
Rs. 61,800; Interest on Ram’s loan Rs. 1,000; Purchases Rs. 1,00,000; Purchase Returns Rs. 
2,600. 
 
6 
17 Prepare an Accounting equation from the following information: 
i. Started business with cash Rs.2,75,000 and goods Rs.25,000 
ii. Bought goods for cash Rs.30,000 and on credit Rs.44,000 
iii. Goods costing Rs.50,000 sold at a profit of 25%; out of which Rs.25,000 is 
received in cash. 
iv. Building purchased from Sohan for Rs.10,00,000 by taking a loan of Rs. 8,00,000 
from SBI. 
v. Amountwithdrawn for personal use Rs.5,000. 
vi. Charge interest on drawings @5%. 
 
6 
18 Fill in the missing information in the following journal entries: 
                                                 JOURNAL 
S.No. Particulars L.F. Dr. Amt Cr. Amt 
i. ______________                Dr. 
______________                Dr. 
              To ___________ 
(Being goods of the list price of 
Rs.5,000 sold at 10% trade discount & 
2% cash discount) 
   
     ii. Chaturvedi’s A/c                     Dr. 
              To ____________ 
              To ___________ 
(Being Chaturvedi’s A/c settled, cash 
discount 3% )  
 
 5,000  
_________ 
6 
XI A 3 of 4 
 
iii. __________                        Dr. 
          To _________  
(Being 2 months rent due to landlord, 
rent is paid @ Rs. 12,000 p.a) 
 _______  
________ 
 
 
19 
 
Identify and explain the Accounting principle followed in the following statements: 
i. Closing stock is valued at cost or net realizable value. 
ii. During the year, the company purchased ball point pens of Rs.300. These were issued 
to employees and were still in use at the end of the year. 
iii. Aditya Enterprises assumes that the business will not be liquidated in the near future. 
 
 
6 
20 Pass journal entries: 
i. Received cash from Ram for a bad debt written off last year Rs.1,000. 
ii. Sohan is declared insolvent. Received from his Official Receiver a dividend of 60 
paise in the rupee on a debt of Rs.2,500. 
iii. Provide interest on capital @ 10 % p.a. for 5 months (Capital Rs. 60,000) 
iv. Paid landlord Rs.4,500 for rent. One – third of the premises is occupied by the 
proprietor for his own residence.  
v. Out of the insurance paid this year, Rs.5,000 relates to the next year. 
vi. Supplied goods at Rs.6,000 to Suresh, issued invoice at 10% above cost less 5% trade 
discount. 
 
6 
21 Enter the following transactions in a Triple Column Cash Book: 
2014  Rs. 
Jan 1 Cash in hand  
Bank overdraft 
 
  2,300 
12,000 
 
       7 Cheque received from S.Nair 
Discount allowed 
4,000 
   200 
       9 Cheque received from S.Nair deposited in bank  
      12 Cheque paid to Radha 
Discount received 
2,500 
50 
      15 S.Nair’scheque returned dishonoured  
      20  Money withdrawn from bank for office use 3,400 
      27 Bank charges 50 
      31 Paid into bank the entire balance after retaining 
Rs.700 at office. 
 
 
6 
 
22 
 
From the following information, prepare Bank Reconciliation Statement as on 31
st
 March, 
2015: 
i. Credit balance as per Cash Book as on 31
st
 March, 2015 Rs.35,000  
ii. Out of the total cheques amounting to Rs.10,000 issued, cheques aggregating 
Rs.3,000 were encashed in March,2015; cheques aggregating Rs.4,000 were 
encashed in April,2015 and the rest have not been presented yet. 
iii. Out of the total cheques amounting to Rs.5,000 deposited, cheques aggregating 
Rs.1,500 were credited in March,2015 and balance cheques were credited in 
April,2015. 
iv. Bank has debited Rs. 120 as bank charges. 
v. A cheque for Rs.800 was returned dishonoured by the bank. 
vi. The payment side of the Cash Book has been undercast by Rs. 2,800. 
vii. Cheque paid entered twice in the Cash Book Rs. 9,050. 
 
 
 
8 
Page 4


 
 
 
           
                     
Date:                                Class: XI 
Accountancy(055) 
Time:3 hrs                                                             M. M: 100 
General Instructions: 
1. All questions are compulsory 
2. Marks for each question are indicated against it.             
3. Attempt all parts of a question together. 
1 How is Accounting information useful for ‘Banks and Financial Institutions’? 
 
1 
2 The owner of the firm does not record his personal expenses in the firm’s books. Which 
principle is violated in this case? 
 
1 
3 Godrej Ltd imported from Germany one machinery for sale in India and another machinery 
for production purposes. Which will be treated as goods and which as fixed asset? 
 
1 
4 ‘Charity given through cash’ - State its effect on Accounting equation. 
 
1 
5 Differentiate between Trade Discount and Cash Discount on the basis of ‘nature’. 
 
1 
6 (i) What is a compound journal entry?  
(ii) Is Cash Book a Journal or a ledger? 
(iii) For what purposes is a journal proper used? 
 
3 
7 Comment upon the following statements by giving appropriate reasons: 
i. Accounting is not fully exact 
ii. Accounting information must be presented in such a way that only accounting 
people understands it. 
iii. Accounting information must be reliable. 
 
3 
8 ShriHariharan had started a new mid - sized business. He being new to accounting sought 
advice from a chartered accountant on maintenance of accounts. He was advised that he 
should follow Double Entry System of Accounting maintaining accounts on accrual basis. 
Some of his friends advised him to maintain accounts on Cash Basis of Accounting. He 
decided to follow the advice of the chartered accountant. Is the decision of Hariharan correct? 
Justify your answer by giving appropriate reasons. 
 
3 
9 From the following particulars, prepare the account of D. Budhiraja, the proprietor of a 
business: Rs.   
i. Capital introduced                                              30,000 
ii. Drawings made by him                                        6,500 
iii. Further capital introduced                                  22,000 
iv. Profit for the period                                             7,500 
 
3 
10 Explain the‘Imprest System’ of Petty Cash Book by giving an example. 
 
3 
 
11 Classify the following into per Modern or Traditional approach: 
i. Purchases A/c                                                v.  Accrued Income A/c 
ii. Rahul’s A/c (a supplier)                                vi. Trademarks A/c 
iii. Bad debts written off A/c                              vii. Commission received A/c   
iv.  Investments in XYZ Ltd                              viii. Purchase returns A/c      
 
 
 
4 
XI A 2 of 4 
 
12 Define the following Accounting terms: 
i. Non – current liabilities 
ii. Current assets 
iii. Revenue receipts 
iv. Trade Payables 
4 
13 (i) X Ltd has the following assets and liabilities as on 31
st
 March, 2015. Ascertain his 
capital: 
Cash Rs.25,000; Bank Rs.47,500; Debtors Rs. 18,000; Creditors Rs. 22,000; Plant and 
Machinery Rs.80,000; Building Rs. 2,00,000; Furniture Rs. 24,000; Bills receivable Rs. 
56,500; Bills Payable Rs. 23,500.  
(ii) Capital as on 1
st
 April, 2014: Rs.50,000;   
Capital as on 31
st
March, 2015:Rs. 59,000;  
Additional capital invested: Rs.5,000;  
Amount withdrawn:Rs. 2,000. Find out profit earned or loss suffered. 
 
2 + 2 
14 i. Bought goods from Arun for Rs.2,00,000 at a trade discount of 15% and cash discount 
of 2%. Paid 80% amount immediately. Pass journal entry. 
ii. Sold goods costing Rs. 40,000 to Ashok for cash at a profit of 25% on cost less 20% 
trade discount and charged 8% Central Sales Tax and paid cartage on sales Rs.200. 
 
4 
15 Explain the following source documents: 
i. Invoice                                               iii. Credit Voucher 
ii. Transfer Voucher                               iv. Receipt    
 
4 
  
 
 
16 From the following information, draw up the Trial Balance in the books of Vimal Traders as 
on 31
st
 March, 2015: 
Building Rs. 77,000; Sales Rs. 1,04,000; Capital Rs. 73,600; Fixtures Rs. 5,600; Cash Rs. 
400; Creditors Rs. 52,600; Discount received Rs.3,000; Loan from Ram Rs. 10,000; Debtors 
Rs. 61,800; Interest on Ram’s loan Rs. 1,000; Purchases Rs. 1,00,000; Purchase Returns Rs. 
2,600. 
 
6 
17 Prepare an Accounting equation from the following information: 
i. Started business with cash Rs.2,75,000 and goods Rs.25,000 
ii. Bought goods for cash Rs.30,000 and on credit Rs.44,000 
iii. Goods costing Rs.50,000 sold at a profit of 25%; out of which Rs.25,000 is 
received in cash. 
iv. Building purchased from Sohan for Rs.10,00,000 by taking a loan of Rs. 8,00,000 
from SBI. 
v. Amountwithdrawn for personal use Rs.5,000. 
vi. Charge interest on drawings @5%. 
 
6 
18 Fill in the missing information in the following journal entries: 
                                                 JOURNAL 
S.No. Particulars L.F. Dr. Amt Cr. Amt 
i. ______________                Dr. 
______________                Dr. 
              To ___________ 
(Being goods of the list price of 
Rs.5,000 sold at 10% trade discount & 
2% cash discount) 
   
     ii. Chaturvedi’s A/c                     Dr. 
              To ____________ 
              To ___________ 
(Being Chaturvedi’s A/c settled, cash 
discount 3% )  
 
 5,000  
_________ 
6 
XI A 3 of 4 
 
iii. __________                        Dr. 
          To _________  
(Being 2 months rent due to landlord, 
rent is paid @ Rs. 12,000 p.a) 
 _______  
________ 
 
 
19 
 
Identify and explain the Accounting principle followed in the following statements: 
i. Closing stock is valued at cost or net realizable value. 
ii. During the year, the company purchased ball point pens of Rs.300. These were issued 
to employees and were still in use at the end of the year. 
iii. Aditya Enterprises assumes that the business will not be liquidated in the near future. 
 
 
6 
20 Pass journal entries: 
i. Received cash from Ram for a bad debt written off last year Rs.1,000. 
ii. Sohan is declared insolvent. Received from his Official Receiver a dividend of 60 
paise in the rupee on a debt of Rs.2,500. 
iii. Provide interest on capital @ 10 % p.a. for 5 months (Capital Rs. 60,000) 
iv. Paid landlord Rs.4,500 for rent. One – third of the premises is occupied by the 
proprietor for his own residence.  
v. Out of the insurance paid this year, Rs.5,000 relates to the next year. 
vi. Supplied goods at Rs.6,000 to Suresh, issued invoice at 10% above cost less 5% trade 
discount. 
 
6 
21 Enter the following transactions in a Triple Column Cash Book: 
2014  Rs. 
Jan 1 Cash in hand  
Bank overdraft 
 
  2,300 
12,000 
 
       7 Cheque received from S.Nair 
Discount allowed 
4,000 
   200 
       9 Cheque received from S.Nair deposited in bank  
      12 Cheque paid to Radha 
Discount received 
2,500 
50 
      15 S.Nair’scheque returned dishonoured  
      20  Money withdrawn from bank for office use 3,400 
      27 Bank charges 50 
      31 Paid into bank the entire balance after retaining 
Rs.700 at office. 
 
 
6 
 
22 
 
From the following information, prepare Bank Reconciliation Statement as on 31
st
 March, 
2015: 
i. Credit balance as per Cash Book as on 31
st
 March, 2015 Rs.35,000  
ii. Out of the total cheques amounting to Rs.10,000 issued, cheques aggregating 
Rs.3,000 were encashed in March,2015; cheques aggregating Rs.4,000 were 
encashed in April,2015 and the rest have not been presented yet. 
iii. Out of the total cheques amounting to Rs.5,000 deposited, cheques aggregating 
Rs.1,500 were credited in March,2015 and balance cheques were credited in 
April,2015. 
iv. Bank has debited Rs. 120 as bank charges. 
v. A cheque for Rs.800 was returned dishonoured by the bank. 
vi. The payment side of the Cash Book has been undercast by Rs. 2,800. 
vii. Cheque paid entered twice in the Cash Book Rs. 9,050. 
 
 
 
8 
XI A 4 of 4 
 
 
 
 
 
 
 
 
 
 
23 The following balances appeared in the books of Vishal Stores on 1
st
 April, 2015: 
Cash Rs.15,000; Bank balance Rs.5,000; Stock Rs.40,000; Machinery Rs.3,600; Sundry 
debtors: Ashish Rs.11,000; Bimal Rs.13,000 
Bank Loan Rs.10,000; Sundry Creditors: Garima Rs.12,500; Vijay Rs.7,500. 
The following are the transactions for the month of April: 
2015  Rs. 
April2 Bought goods of Garima 6,900 
April4 Sold goods to Ashish 1,000 
April 5 Bimal returned goods 4,200 
April 9 Sold goods to Bimal 7,300 
April 15 Purchased another machinery for 
Rs.15,000 and paid installation charges 
Rs.2,500 
 
April 19 Received from Ashish Rs.11,500 in full 
settlement of his account. 
 
April 22 Furniture sold  3,000 
 Pass journal entries in the books of Vishal Stores and prepare Ashish’s A/c, Bimal’s A/c, 
Discount allowed A/c and Machinery A/c.  
 
8 
24 Enter the following transactions in the Purchase Book and Sales Book of Pawan Electric 
Store, New Delhi: 
2015  
June 2 Purchased goods from Surya Electric Store, 
ChandniChowk 
200 tubelights @ Rs.50 each 
50 table fans @ Rs.400 each 
20 Heaters @ Rs.100 each 
Trade Discount 15% 
June 12 Sold goods to Prakash Electrical, South Extension: 
20 ceiling fans @ Rs.650 each 
35 Electric Irons @ Rs.500 each 
40 Tubelights @ Rs. 50 each 
Trade Discount 10% 
June 18 Sold to Sunny Lamp, Lajpat Nagar, for cash 
5 Electric Irons @ Rs.450 each 
June 20 Purchased a Computer Printer for Rs.10,000 from Kailash 
Printers 
June 24 Moonlight Electricals Sold to us: 
120 dozen bulbs @ Rs. 80 per dozen 
20 Water Heaters @ Rs.120 each 
Trade Discount 10% 
June 28 Sunbeam Electricals purchased from us: 
25 table fans @ Rs.800 each 
15 Heaters @ Rs.200 each 
Trade Discount 20% 
 
8 
Page 5


 
 
 
           
                     
Date:                                Class: XI 
Accountancy(055) 
Time:3 hrs                                                             M. M: 100 
General Instructions: 
1. All questions are compulsory 
2. Marks for each question are indicated against it.             
3. Attempt all parts of a question together. 
1 How is Accounting information useful for ‘Banks and Financial Institutions’? 
 
1 
2 The owner of the firm does not record his personal expenses in the firm’s books. Which 
principle is violated in this case? 
 
1 
3 Godrej Ltd imported from Germany one machinery for sale in India and another machinery 
for production purposes. Which will be treated as goods and which as fixed asset? 
 
1 
4 ‘Charity given through cash’ - State its effect on Accounting equation. 
 
1 
5 Differentiate between Trade Discount and Cash Discount on the basis of ‘nature’. 
 
1 
6 (i) What is a compound journal entry?  
(ii) Is Cash Book a Journal or a ledger? 
(iii) For what purposes is a journal proper used? 
 
3 
7 Comment upon the following statements by giving appropriate reasons: 
i. Accounting is not fully exact 
ii. Accounting information must be presented in such a way that only accounting 
people understands it. 
iii. Accounting information must be reliable. 
 
3 
8 ShriHariharan had started a new mid - sized business. He being new to accounting sought 
advice from a chartered accountant on maintenance of accounts. He was advised that he 
should follow Double Entry System of Accounting maintaining accounts on accrual basis. 
Some of his friends advised him to maintain accounts on Cash Basis of Accounting. He 
decided to follow the advice of the chartered accountant. Is the decision of Hariharan correct? 
Justify your answer by giving appropriate reasons. 
 
3 
9 From the following particulars, prepare the account of D. Budhiraja, the proprietor of a 
business: Rs.   
i. Capital introduced                                              30,000 
ii. Drawings made by him                                        6,500 
iii. Further capital introduced                                  22,000 
iv. Profit for the period                                             7,500 
 
3 
10 Explain the‘Imprest System’ of Petty Cash Book by giving an example. 
 
3 
 
11 Classify the following into per Modern or Traditional approach: 
i. Purchases A/c                                                v.  Accrued Income A/c 
ii. Rahul’s A/c (a supplier)                                vi. Trademarks A/c 
iii. Bad debts written off A/c                              vii. Commission received A/c   
iv.  Investments in XYZ Ltd                              viii. Purchase returns A/c      
 
 
 
4 
XI A 2 of 4 
 
12 Define the following Accounting terms: 
i. Non – current liabilities 
ii. Current assets 
iii. Revenue receipts 
iv. Trade Payables 
4 
13 (i) X Ltd has the following assets and liabilities as on 31
st
 March, 2015. Ascertain his 
capital: 
Cash Rs.25,000; Bank Rs.47,500; Debtors Rs. 18,000; Creditors Rs. 22,000; Plant and 
Machinery Rs.80,000; Building Rs. 2,00,000; Furniture Rs. 24,000; Bills receivable Rs. 
56,500; Bills Payable Rs. 23,500.  
(ii) Capital as on 1
st
 April, 2014: Rs.50,000;   
Capital as on 31
st
March, 2015:Rs. 59,000;  
Additional capital invested: Rs.5,000;  
Amount withdrawn:Rs. 2,000. Find out profit earned or loss suffered. 
 
2 + 2 
14 i. Bought goods from Arun for Rs.2,00,000 at a trade discount of 15% and cash discount 
of 2%. Paid 80% amount immediately. Pass journal entry. 
ii. Sold goods costing Rs. 40,000 to Ashok for cash at a profit of 25% on cost less 20% 
trade discount and charged 8% Central Sales Tax and paid cartage on sales Rs.200. 
 
4 
15 Explain the following source documents: 
i. Invoice                                               iii. Credit Voucher 
ii. Transfer Voucher                               iv. Receipt    
 
4 
  
 
 
16 From the following information, draw up the Trial Balance in the books of Vimal Traders as 
on 31
st
 March, 2015: 
Building Rs. 77,000; Sales Rs. 1,04,000; Capital Rs. 73,600; Fixtures Rs. 5,600; Cash Rs. 
400; Creditors Rs. 52,600; Discount received Rs.3,000; Loan from Ram Rs. 10,000; Debtors 
Rs. 61,800; Interest on Ram’s loan Rs. 1,000; Purchases Rs. 1,00,000; Purchase Returns Rs. 
2,600. 
 
6 
17 Prepare an Accounting equation from the following information: 
i. Started business with cash Rs.2,75,000 and goods Rs.25,000 
ii. Bought goods for cash Rs.30,000 and on credit Rs.44,000 
iii. Goods costing Rs.50,000 sold at a profit of 25%; out of which Rs.25,000 is 
received in cash. 
iv. Building purchased from Sohan for Rs.10,00,000 by taking a loan of Rs. 8,00,000 
from SBI. 
v. Amountwithdrawn for personal use Rs.5,000. 
vi. Charge interest on drawings @5%. 
 
6 
18 Fill in the missing information in the following journal entries: 
                                                 JOURNAL 
S.No. Particulars L.F. Dr. Amt Cr. Amt 
i. ______________                Dr. 
______________                Dr. 
              To ___________ 
(Being goods of the list price of 
Rs.5,000 sold at 10% trade discount & 
2% cash discount) 
   
     ii. Chaturvedi’s A/c                     Dr. 
              To ____________ 
              To ___________ 
(Being Chaturvedi’s A/c settled, cash 
discount 3% )  
 
 5,000  
_________ 
6 
XI A 3 of 4 
 
iii. __________                        Dr. 
          To _________  
(Being 2 months rent due to landlord, 
rent is paid @ Rs. 12,000 p.a) 
 _______  
________ 
 
 
19 
 
Identify and explain the Accounting principle followed in the following statements: 
i. Closing stock is valued at cost or net realizable value. 
ii. During the year, the company purchased ball point pens of Rs.300. These were issued 
to employees and were still in use at the end of the year. 
iii. Aditya Enterprises assumes that the business will not be liquidated in the near future. 
 
 
6 
20 Pass journal entries: 
i. Received cash from Ram for a bad debt written off last year Rs.1,000. 
ii. Sohan is declared insolvent. Received from his Official Receiver a dividend of 60 
paise in the rupee on a debt of Rs.2,500. 
iii. Provide interest on capital @ 10 % p.a. for 5 months (Capital Rs. 60,000) 
iv. Paid landlord Rs.4,500 for rent. One – third of the premises is occupied by the 
proprietor for his own residence.  
v. Out of the insurance paid this year, Rs.5,000 relates to the next year. 
vi. Supplied goods at Rs.6,000 to Suresh, issued invoice at 10% above cost less 5% trade 
discount. 
 
6 
21 Enter the following transactions in a Triple Column Cash Book: 
2014  Rs. 
Jan 1 Cash in hand  
Bank overdraft 
 
  2,300 
12,000 
 
       7 Cheque received from S.Nair 
Discount allowed 
4,000 
   200 
       9 Cheque received from S.Nair deposited in bank  
      12 Cheque paid to Radha 
Discount received 
2,500 
50 
      15 S.Nair’scheque returned dishonoured  
      20  Money withdrawn from bank for office use 3,400 
      27 Bank charges 50 
      31 Paid into bank the entire balance after retaining 
Rs.700 at office. 
 
 
6 
 
22 
 
From the following information, prepare Bank Reconciliation Statement as on 31
st
 March, 
2015: 
i. Credit balance as per Cash Book as on 31
st
 March, 2015 Rs.35,000  
ii. Out of the total cheques amounting to Rs.10,000 issued, cheques aggregating 
Rs.3,000 were encashed in March,2015; cheques aggregating Rs.4,000 were 
encashed in April,2015 and the rest have not been presented yet. 
iii. Out of the total cheques amounting to Rs.5,000 deposited, cheques aggregating 
Rs.1,500 were credited in March,2015 and balance cheques were credited in 
April,2015. 
iv. Bank has debited Rs. 120 as bank charges. 
v. A cheque for Rs.800 was returned dishonoured by the bank. 
vi. The payment side of the Cash Book has been undercast by Rs. 2,800. 
vii. Cheque paid entered twice in the Cash Book Rs. 9,050. 
 
 
 
8 
XI A 4 of 4 
 
 
 
 
 
 
 
 
 
 
23 The following balances appeared in the books of Vishal Stores on 1
st
 April, 2015: 
Cash Rs.15,000; Bank balance Rs.5,000; Stock Rs.40,000; Machinery Rs.3,600; Sundry 
debtors: Ashish Rs.11,000; Bimal Rs.13,000 
Bank Loan Rs.10,000; Sundry Creditors: Garima Rs.12,500; Vijay Rs.7,500. 
The following are the transactions for the month of April: 
2015  Rs. 
April2 Bought goods of Garima 6,900 
April4 Sold goods to Ashish 1,000 
April 5 Bimal returned goods 4,200 
April 9 Sold goods to Bimal 7,300 
April 15 Purchased another machinery for 
Rs.15,000 and paid installation charges 
Rs.2,500 
 
April 19 Received from Ashish Rs.11,500 in full 
settlement of his account. 
 
April 22 Furniture sold  3,000 
 Pass journal entries in the books of Vishal Stores and prepare Ashish’s A/c, Bimal’s A/c, 
Discount allowed A/c and Machinery A/c.  
 
8 
24 Enter the following transactions in the Purchase Book and Sales Book of Pawan Electric 
Store, New Delhi: 
2015  
June 2 Purchased goods from Surya Electric Store, 
ChandniChowk 
200 tubelights @ Rs.50 each 
50 table fans @ Rs.400 each 
20 Heaters @ Rs.100 each 
Trade Discount 15% 
June 12 Sold goods to Prakash Electrical, South Extension: 
20 ceiling fans @ Rs.650 each 
35 Electric Irons @ Rs.500 each 
40 Tubelights @ Rs. 50 each 
Trade Discount 10% 
June 18 Sold to Sunny Lamp, Lajpat Nagar, for cash 
5 Electric Irons @ Rs.450 each 
June 20 Purchased a Computer Printer for Rs.10,000 from Kailash 
Printers 
June 24 Moonlight Electricals Sold to us: 
120 dozen bulbs @ Rs. 80 per dozen 
20 Water Heaters @ Rs.120 each 
Trade Discount 10% 
June 28 Sunbeam Electricals purchased from us: 
25 table fans @ Rs.800 each 
15 Heaters @ Rs.200 each 
Trade Discount 20% 
 
8 
 
 
Answer Key  
Accountancy 
Date:                       Class: XI 
Time:3 hrs                                                M. M: 100 
 
1 How is Accounting information useful for ‘Banks and Financial Institutions’? 
Ans.provide loan; ensure safety & recovery of loan advanced.     (any 2) 
1 
2 The owner of the firm does not record his personal expenses in the firms’ books.Which 
principle is violated in this case? 
Ans.Business Entity principle 
1 
3 Godrej Ltd imported from Germany one machinery for sale in India and another machinery for 
production purposes. Which will be treated as goods and which as fixed asset? 
Ans. 1st machinery as goods & 2
nd
 as fixed asset. 
1 
4 ‘Charity given through cash’ - State its effect on Accounting equation. 
Ans. Reduce the cash as well as the capital of business 
1 
5 Differentiate between Trade Discount and Cash Discount on the basis of ‘nature’. 
Ans. T.D is allowed on bulk purchases but C.D. on prompt payment. 
1 
6 (i) What is a compound journal entry?  
(ii) Is Cash Book a Journal or a ledger? 
(iii) For what purposes is a journal proper used? 
Ans.i. it is a journal entry in which one or more accounts are debited or credited 
ii.it is a journal as both cash & bank transactions are first recorded in it & a ledger since it 
serves the purpose of a cash account also. When a cash book is prepared, no separate cash 
account is opened in the ledger.  
iii. it is a book in which transactions that are not recorded in other subsidiary books are 
recorded. 
3 
7 Comment upon the following statements by giving appropriate reasons: 
i. Accounting is not fully exact 
ii. Accounting information must be presented in such a way that only accounting 
people understands it. 
iii. Accounting information must be reliable. 
Ans. i. True as some estimates are made to calculate profit or loss. 
ii.False – Acc info must be presented in a simple & logical manner that they are understood 
easily by the users. 
iii.True as it must be based on facts & reliable(1 x3) 
3 
8 Shri Hariharan had started a new mid - sized business. He being new to accounting sought 
advice from a chartered accountant on maintenance of accounts. He was advised that he should 
follow Double Entry System of Accounting maintaining accounts on accrual basis. Some of his 
friends advised him to maintain accounts on Cash Basis of Accounting. He decided to follow 
the advice of the chartered accountant. Is the decision of Hariharan correct? Justify your 
answer by giving appropriate reasons. 
Ans. Yes his decision is correct. (0.5) 
Give meaning / advantages of accrual basis.                                (1.5) 
By following cash basis of accounting, bs does not show correct financial performance & 
financial position as credit transactions would not be recorded.(1) 
3 
9 From the following particulars, prepare the account of D. Budhiraja, the proprietor of a 
business: Rs.   
i. Capital introduced                                              30,000 
ii. Drawings made by him                                        6,500 
iii. Further capital introduced                                  22,000 
iv. Profit for the period                                             7,500 
Ans.                                                     D. Budhiraja’s Capital A/c 
3