Page 1
Material downloaded from http://myCBSEguide.com and http://onlineteachers.co.in
Portal for CBSE Notes, Test Papers, Sample Papers, Tips and Tricks
Half Yearly Exam 2014
Accountancy
Class – XI
Time allowed: 3 hours Maximum Marks: 100
General Instructions:
(i) Answer the following questions.
(ii) Q. No. 1 to 6 carrying 1 mark each.
(iii) Q. No. 7 to 12 carrying 3 marks each.
(iv) Q. No. 13 to 17 carrying 4 marks each.
(v) Q. No. 18 to 22 carrying 6 marks each.
(vi) Q. No. 23 to 25 carrying 8 marks each.
1. Resignation by a Market Manager is not recorded in the books of accounts. Why?
2. Name any two objectives of Accounting.
3. Explain Consistency Convention.
4. What do you understand by Posting?
5. What is an Opening Entry?
6. Define Accounting?
7. Explain Double Entry System of Book Keeping.
8. What are Fixed Assets? Give any two features.
9. Differentiate between Trade and Cash Discounts.
10. Explain Accounting Standards and give any three objectives.
11. Classify the following as Assets, Liabilities, Expenses and Revenue Accounts.
a) Investments
b) Interest received
c) Bank overdraft
d) Depreciation
e) Bad Debts
f) Capital
g) Goodwill
h) Repairs
i) Creditors
j) Land
k) Freight
l) Bills payable
12. On which side will the decrease in the following accounts will be recorded.
a) Cash
Page 2
Material downloaded from http://myCBSEguide.com and http://onlineteachers.co.in
Portal for CBSE Notes, Test Papers, Sample Papers, Tips and Tricks
Half Yearly Exam 2014
Accountancy
Class – XI
Time allowed: 3 hours Maximum Marks: 100
General Instructions:
(i) Answer the following questions.
(ii) Q. No. 1 to 6 carrying 1 mark each.
(iii) Q. No. 7 to 12 carrying 3 marks each.
(iv) Q. No. 13 to 17 carrying 4 marks each.
(v) Q. No. 18 to 22 carrying 6 marks each.
(vi) Q. No. 23 to 25 carrying 8 marks each.
1. Resignation by a Market Manager is not recorded in the books of accounts. Why?
2. Name any two objectives of Accounting.
3. Explain Consistency Convention.
4. What do you understand by Posting?
5. What is an Opening Entry?
6. Define Accounting?
7. Explain Double Entry System of Book Keeping.
8. What are Fixed Assets? Give any two features.
9. Differentiate between Trade and Cash Discounts.
10. Explain Accounting Standards and give any three objectives.
11. Classify the following as Assets, Liabilities, Expenses and Revenue Accounts.
a) Investments
b) Interest received
c) Bank overdraft
d) Depreciation
e) Bad Debts
f) Capital
g) Goodwill
h) Repairs
i) Creditors
j) Land
k) Freight
l) Bills payable
12. On which side will the decrease in the following accounts will be recorded.
a) Cash
Material downloaded from http://myCBSEguide.com and http://onlineteachers.co.in
Portal for CBSE Notes, Test Papers, Sample Papers, Tips and Tricks
b) Bank Overdraft
c) Outstanding Salary Paid
d) Prepaid Insurance
e) Drawings
f) Interest Received
13. State the modern rules of Debit and Credit.
14. Journalise the following entries:
a) Goods worth Rs 500 taken by the proprietor for personal use.
b) Received Rs 971 from Hari in full settlement of his account for Rs 1000.
c) Received a dividend of 60 paise in a Rupee from Rajan, who owed us Rs 1000.
d) Charged depreciation on plant Rs 1000.
15. Explain the sub divisions of Journal.
16. Pass the opening Journal Entry on the basis of the following information on 1
st
April 2013
and post them into Ledger Accounts.
Cash in hand Rs 20,000
Debtors Rs 60,000
Stock of goods Rs 40,000
Plants Rs 50,000
Building Rs 1,00,000
Creditors Rs 50,000
17. Bring out the differences between Journal and Ledger.
18. Prepare a simple cash book from the following transaction:
2013 Rs.
July 1
st
Balance from last month 6,250
July 3
rd
Purchased goods for cash from Ram 4,250
July 4
th
Received cash from Amar 210
July 9
th
Paid trade expenses 146
July 10
th
Paid for Postage 15
July 12
th
Received from Kailas 1,500
July 18
th
Cash Purchases 1,415
July 20
th
Paid Rent 450
July 22
nd
Paid Balan on account Rs 250 less
10% discount
July 23
rd
Paid for furniture repair 50
July 26
th
Sold goods for cash 807
July 31
st
Drew cash for personal use 100
19. Pass Journal Entries for the following transactions:
a) Purchased goods from Vijay Rs 40,000 on 10% trade discount and 5% cash discount. Half
of the amount was paid at the time of purchase.
b) Sold goods to Anil Rs 20,000 allowed him 10% trade discount and 10% cash discount.
Received half of the amount by cash and balance by Cheque.
Page 3
Material downloaded from http://myCBSEguide.com and http://onlineteachers.co.in
Portal for CBSE Notes, Test Papers, Sample Papers, Tips and Tricks
Half Yearly Exam 2014
Accountancy
Class – XI
Time allowed: 3 hours Maximum Marks: 100
General Instructions:
(i) Answer the following questions.
(ii) Q. No. 1 to 6 carrying 1 mark each.
(iii) Q. No. 7 to 12 carrying 3 marks each.
(iv) Q. No. 13 to 17 carrying 4 marks each.
(v) Q. No. 18 to 22 carrying 6 marks each.
(vi) Q. No. 23 to 25 carrying 8 marks each.
1. Resignation by a Market Manager is not recorded in the books of accounts. Why?
2. Name any two objectives of Accounting.
3. Explain Consistency Convention.
4. What do you understand by Posting?
5. What is an Opening Entry?
6. Define Accounting?
7. Explain Double Entry System of Book Keeping.
8. What are Fixed Assets? Give any two features.
9. Differentiate between Trade and Cash Discounts.
10. Explain Accounting Standards and give any three objectives.
11. Classify the following as Assets, Liabilities, Expenses and Revenue Accounts.
a) Investments
b) Interest received
c) Bank overdraft
d) Depreciation
e) Bad Debts
f) Capital
g) Goodwill
h) Repairs
i) Creditors
j) Land
k) Freight
l) Bills payable
12. On which side will the decrease in the following accounts will be recorded.
a) Cash
Material downloaded from http://myCBSEguide.com and http://onlineteachers.co.in
Portal for CBSE Notes, Test Papers, Sample Papers, Tips and Tricks
b) Bank Overdraft
c) Outstanding Salary Paid
d) Prepaid Insurance
e) Drawings
f) Interest Received
13. State the modern rules of Debit and Credit.
14. Journalise the following entries:
a) Goods worth Rs 500 taken by the proprietor for personal use.
b) Received Rs 971 from Hari in full settlement of his account for Rs 1000.
c) Received a dividend of 60 paise in a Rupee from Rajan, who owed us Rs 1000.
d) Charged depreciation on plant Rs 1000.
15. Explain the sub divisions of Journal.
16. Pass the opening Journal Entry on the basis of the following information on 1
st
April 2013
and post them into Ledger Accounts.
Cash in hand Rs 20,000
Debtors Rs 60,000
Stock of goods Rs 40,000
Plants Rs 50,000
Building Rs 1,00,000
Creditors Rs 50,000
17. Bring out the differences between Journal and Ledger.
18. Prepare a simple cash book from the following transaction:
2013 Rs.
July 1
st
Balance from last month 6,250
July 3
rd
Purchased goods for cash from Ram 4,250
July 4
th
Received cash from Amar 210
July 9
th
Paid trade expenses 146
July 10
th
Paid for Postage 15
July 12
th
Received from Kailas 1,500
July 18
th
Cash Purchases 1,415
July 20
th
Paid Rent 450
July 22
nd
Paid Balan on account Rs 250 less
10% discount
July 23
rd
Paid for furniture repair 50
July 26
th
Sold goods for cash 807
July 31
st
Drew cash for personal use 100
19. Pass Journal Entries for the following transactions:
a) Purchased goods from Vijay Rs 40,000 on 10% trade discount and 5% cash discount. Half
of the amount was paid at the time of purchase.
b) Sold goods to Anil Rs 20,000 allowed him 10% trade discount and 10% cash discount.
Received half of the amount by cash and balance by Cheque.
Material downloaded from http://myCBSEguide.com and http://onlineteachers.co.in
Portal for CBSE Notes, Test Papers, Sample Papers, Tips and Tricks
c) Sold goods to Ajay for Rs 50,000 allowing 5% cash discount and 10% trade discount. Half
of the amount was received by Cheque.
20. Prove the Accounting Equation in the following transactions:
a) Started business with cash Rs 10,000, building Rs 50,000 and furniture Rs 2,000
b) Paid rent in advance Rs 300
c) Purchased goods for cash Rs 5,000 and credit Rs 2,000
d) Sold goods for cash Rs 8,000 costing Rs 7,000
e) Paid salary Rs 450 and salary outstanding being Rs 100
f) Bought motor cycle for personal use Rs 4,000
21. Prepare a trial balance from the following information:
Capital 2,00,000
Bills payable 1,00,000
Stock 70,000
Bank Loan 1,50,000
Bank Balance 1,80,000
Sales 3,00,000
Debtors 3,00,000
Purchases 2,00,000
22. Explain the following concepts.
a) Realization concept
b) Accrual concept
c) Historical cost concept
d) Materiality convention
e) Matching concept
f) Full Disclosure Principle
Answer any two questions from the following. Each carries 8 marks.
23. Journalise and post the following transaction into Ledger Accounts and prepare a Trial
Balance.
2013 Rs
April 1
st
Ramesh started business with cash 10,000
April 2
nd
Paid into bank 7,000
April 3
rd
Bought goods for cash 500
April 4
th
Drew a cash from bank for office use 100
April 13
th
Sold goods to Krishna on credit 150
April 20
th
Bought goods from Shyam 225
April 24
th
received from Krishna 145
Allowed him discount 5
April 28
th
Paid Shyam cash 215
Discount allowed 10
April 30
th
Cash sales 800
April 30
th
Paid salary 200
Page 4
Material downloaded from http://myCBSEguide.com and http://onlineteachers.co.in
Portal for CBSE Notes, Test Papers, Sample Papers, Tips and Tricks
Half Yearly Exam 2014
Accountancy
Class – XI
Time allowed: 3 hours Maximum Marks: 100
General Instructions:
(i) Answer the following questions.
(ii) Q. No. 1 to 6 carrying 1 mark each.
(iii) Q. No. 7 to 12 carrying 3 marks each.
(iv) Q. No. 13 to 17 carrying 4 marks each.
(v) Q. No. 18 to 22 carrying 6 marks each.
(vi) Q. No. 23 to 25 carrying 8 marks each.
1. Resignation by a Market Manager is not recorded in the books of accounts. Why?
2. Name any two objectives of Accounting.
3. Explain Consistency Convention.
4. What do you understand by Posting?
5. What is an Opening Entry?
6. Define Accounting?
7. Explain Double Entry System of Book Keeping.
8. What are Fixed Assets? Give any two features.
9. Differentiate between Trade and Cash Discounts.
10. Explain Accounting Standards and give any three objectives.
11. Classify the following as Assets, Liabilities, Expenses and Revenue Accounts.
a) Investments
b) Interest received
c) Bank overdraft
d) Depreciation
e) Bad Debts
f) Capital
g) Goodwill
h) Repairs
i) Creditors
j) Land
k) Freight
l) Bills payable
12. On which side will the decrease in the following accounts will be recorded.
a) Cash
Material downloaded from http://myCBSEguide.com and http://onlineteachers.co.in
Portal for CBSE Notes, Test Papers, Sample Papers, Tips and Tricks
b) Bank Overdraft
c) Outstanding Salary Paid
d) Prepaid Insurance
e) Drawings
f) Interest Received
13. State the modern rules of Debit and Credit.
14. Journalise the following entries:
a) Goods worth Rs 500 taken by the proprietor for personal use.
b) Received Rs 971 from Hari in full settlement of his account for Rs 1000.
c) Received a dividend of 60 paise in a Rupee from Rajan, who owed us Rs 1000.
d) Charged depreciation on plant Rs 1000.
15. Explain the sub divisions of Journal.
16. Pass the opening Journal Entry on the basis of the following information on 1
st
April 2013
and post them into Ledger Accounts.
Cash in hand Rs 20,000
Debtors Rs 60,000
Stock of goods Rs 40,000
Plants Rs 50,000
Building Rs 1,00,000
Creditors Rs 50,000
17. Bring out the differences between Journal and Ledger.
18. Prepare a simple cash book from the following transaction:
2013 Rs.
July 1
st
Balance from last month 6,250
July 3
rd
Purchased goods for cash from Ram 4,250
July 4
th
Received cash from Amar 210
July 9
th
Paid trade expenses 146
July 10
th
Paid for Postage 15
July 12
th
Received from Kailas 1,500
July 18
th
Cash Purchases 1,415
July 20
th
Paid Rent 450
July 22
nd
Paid Balan on account Rs 250 less
10% discount
July 23
rd
Paid for furniture repair 50
July 26
th
Sold goods for cash 807
July 31
st
Drew cash for personal use 100
19. Pass Journal Entries for the following transactions:
a) Purchased goods from Vijay Rs 40,000 on 10% trade discount and 5% cash discount. Half
of the amount was paid at the time of purchase.
b) Sold goods to Anil Rs 20,000 allowed him 10% trade discount and 10% cash discount.
Received half of the amount by cash and balance by Cheque.
Material downloaded from http://myCBSEguide.com and http://onlineteachers.co.in
Portal for CBSE Notes, Test Papers, Sample Papers, Tips and Tricks
c) Sold goods to Ajay for Rs 50,000 allowing 5% cash discount and 10% trade discount. Half
of the amount was received by Cheque.
20. Prove the Accounting Equation in the following transactions:
a) Started business with cash Rs 10,000, building Rs 50,000 and furniture Rs 2,000
b) Paid rent in advance Rs 300
c) Purchased goods for cash Rs 5,000 and credit Rs 2,000
d) Sold goods for cash Rs 8,000 costing Rs 7,000
e) Paid salary Rs 450 and salary outstanding being Rs 100
f) Bought motor cycle for personal use Rs 4,000
21. Prepare a trial balance from the following information:
Capital 2,00,000
Bills payable 1,00,000
Stock 70,000
Bank Loan 1,50,000
Bank Balance 1,80,000
Sales 3,00,000
Debtors 3,00,000
Purchases 2,00,000
22. Explain the following concepts.
a) Realization concept
b) Accrual concept
c) Historical cost concept
d) Materiality convention
e) Matching concept
f) Full Disclosure Principle
Answer any two questions from the following. Each carries 8 marks.
23. Journalise and post the following transaction into Ledger Accounts and prepare a Trial
Balance.
2013 Rs
April 1
st
Ramesh started business with cash 10,000
April 2
nd
Paid into bank 7,000
April 3
rd
Bought goods for cash 500
April 4
th
Drew a cash from bank for office use 100
April 13
th
Sold goods to Krishna on credit 150
April 20
th
Bought goods from Shyam 225
April 24
th
received from Krishna 145
Allowed him discount 5
April 28
th
Paid Shyam cash 215
Discount allowed 10
April 30
th
Cash sales 800
April 30
th
Paid salary 200
Material downloaded from http://myCBSEguide.com and http://onlineteachers.co.in
Portal for CBSE Notes, Test Papers, Sample Papers, Tips and Tricks
24. Journalise, post them into Ledger Accounts and prepare a Trial Balance.
2013 Rs
Jan 1
st
John started business with cash 50,000
Jan 2
nd
Purchased goods for cash 10,000
Jan 5
th
Purchased goods from Mohan 6,000
Jan 7
th
Paid into bank 5,000
Jan 10
th
Purchased furniture 2,000
Jan 15
th
Sold goods for each 7,000
Jan 20
th
Sold goods to Ram 5,000
Jan 25
th
Cash sales 3,500
Jan 27
th
Paid Mohan on account 3,000
Jan 28
th
Paid salaries 1200
Jan 31
st
rejected and returned 10% of goods
supplied by Mohan
25. Journalise, post them into Ledger Accounts and prepare a Trial Balance.
2013 Rs
March 1
st
Rajan commenced business with cash 30,000
March 2
nd
Paid into bank 21,000
March 3
rd
Purchased goods 1,500
March 7
th
Drew cash from bank for office use 3,000
March 10
th
Sold goods to Hari 1,000
March 15
th
Purchased goods from Shyam 1,500
March 20
th
Cash Sales 3,000
March 25
th
Paid to Shyam 1,475
Discount allowed 25
March 26
th
Paid salaries 1,000
March 31
st
Goods (costing Rs 200, Sales price Rs 250)
taken by the proprietor for personal use
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