Sample Question Paper 1 - Accountancy, Class 11 Commerce Notes | EduRev

Sample Papers for Class 11 Commerce

Class 11 : Sample Question Paper 1 - Accountancy, Class 11 Commerce Notes | EduRev

 Page 1


  
 
CBSE XI  | Accountancy 
Sample Paper ? 1 
 
     
 
CBSE 
Class XI Accountancy 
Sample Paper – 1 
 
Time: 3 hours Max. Marks: 80 
  
General Instructions: 
1. All questions are compulsory.  
2. Show your working notes clearly. 
 
Part A 
 
1. Which accounts are not considered while preparing the trial balance?  [1] 
 
2. Choose the correct answer from the options given below:  [1] 
What should be the rectifying entry for `1, 50,000 spent on a family trip enjoyed by Mr. 
Khanna and recorded them by debiting to Office Expenses A/c? 
a) Drawings A/c    Dr.      1,50,000 
To Cash A/c                                       1, 50,000 
b) Drawings A/c    Dr.      1,50,000 
To Office Expenses A/c                  1, 50,000 
c) Office Expenses A/c    Dr.   1,50,000 
To Drawings A/c                              1, 50,000 
d) Cash A/c    Dr.              1,50,000 
To Office Expenses A/c                  1, 50,000 
 
3. Choose the correct answer from the options given below:  [1] 
What will be the value of an asset at the end of fifth year from its date of purchase, if the 
asset was purchased for `75,000 with salvage value `5,000 at the end of its useful life of 
7 years? The depreciation would be charged as per Straight Line Method. 
a) ` 26,000 
b) ` 40,000 
c) ` 47,000 
d) ` 75,000 
 
4. Name the process of transferring entries from the journal to their respective accounts 
in the ledger.  [1] 
 
5. Choose the correct answer from the options given below:  [1]  
“Closing Stock appears at `56, 000 after sales during the year on March 31, 2017.” What 
would be this information regarded as? 
a) An event 
Page 2


  
 
CBSE XI  | Accountancy 
Sample Paper ? 1 
 
     
 
CBSE 
Class XI Accountancy 
Sample Paper – 1 
 
Time: 3 hours Max. Marks: 80 
  
General Instructions: 
1. All questions are compulsory.  
2. Show your working notes clearly. 
 
Part A 
 
1. Which accounts are not considered while preparing the trial balance?  [1] 
 
2. Choose the correct answer from the options given below:  [1] 
What should be the rectifying entry for `1, 50,000 spent on a family trip enjoyed by Mr. 
Khanna and recorded them by debiting to Office Expenses A/c? 
a) Drawings A/c    Dr.      1,50,000 
To Cash A/c                                       1, 50,000 
b) Drawings A/c    Dr.      1,50,000 
To Office Expenses A/c                  1, 50,000 
c) Office Expenses A/c    Dr.   1,50,000 
To Drawings A/c                              1, 50,000 
d) Cash A/c    Dr.              1,50,000 
To Office Expenses A/c                  1, 50,000 
 
3. Choose the correct answer from the options given below:  [1] 
What will be the value of an asset at the end of fifth year from its date of purchase, if the 
asset was purchased for `75,000 with salvage value `5,000 at the end of its useful life of 
7 years? The depreciation would be charged as per Straight Line Method. 
a) ` 26,000 
b) ` 40,000 
c) ` 47,000 
d) ` 75,000 
 
4. Name the process of transferring entries from the journal to their respective accounts 
in the ledger.  [1] 
 
5. Choose the correct answer from the options given below:  [1]  
“Closing Stock appears at `56, 000 after sales during the year on March 31, 2017.” What 
would be this information regarded as? 
a) An event 
  
 
CBSE XI  | Accountancy 
Sample Paper ? 1 
 
     
 
b) A Transaction 
c) Both an event and a transaction 
d) Neither an event nor a transaction 
 
6. Choose the correct answer from the options given below:  [1]  
Which of the following branches of accounting helps overcome one of the limitations of 
accounting, that is, it ignores the effect of price level changes? 
a) Cost Accounting 
b) Financial Accounting 
c) Inflation Accounting 
d) Management Accounting 
 
7. Why are rules of debit and credit same for liability and capital?  [1] 
 
8. Choose the correct answer from the options given below:  [1] 
Mr. Karan, accountant at M/s Das & Das follows different methods of inventory valuation 
every year. Which of the following attributes of accounting information would be affected 
due to practice adopted by Mr. Karan above? 
a) Relevance 
b) Reliability 
c) Comparability 
d) Understandability 
 
9. Choose the correct answer from the options given below:  [1] 
A Gross Profit `15,000, Carriage Inwards `4,000, Rent `4,500, Drawings `6,000, Freight 
Outward `5,000, Repairs & Maintenance `4,800, Manufacturing Wages `5,000, Bad Debts 
Recovered `3,000.  What is the amount of net profit/loss? 
a) Profit of `3,700 
b) Loss of `300 
c) Profit of `8,200 
d) Loss of `1,300 
 
10. Which document is evidencing for the credit granted to the named person for the 
reason stated therein? [1] 
 
11. Choose the correct answer from the options given below:  [1] 
If wages paid for installation of newly purchased machinery are debited to Wages Account, 
then under which category of errors this would be classified as? 
a) Clerical Errors 
b) Errors of Principle 
c) Errors of Commission 
d) Compensating Errors 
 
Page 3


  
 
CBSE XI  | Accountancy 
Sample Paper ? 1 
 
     
 
CBSE 
Class XI Accountancy 
Sample Paper – 1 
 
Time: 3 hours Max. Marks: 80 
  
General Instructions: 
1. All questions are compulsory.  
2. Show your working notes clearly. 
 
Part A 
 
1. Which accounts are not considered while preparing the trial balance?  [1] 
 
2. Choose the correct answer from the options given below:  [1] 
What should be the rectifying entry for `1, 50,000 spent on a family trip enjoyed by Mr. 
Khanna and recorded them by debiting to Office Expenses A/c? 
a) Drawings A/c    Dr.      1,50,000 
To Cash A/c                                       1, 50,000 
b) Drawings A/c    Dr.      1,50,000 
To Office Expenses A/c                  1, 50,000 
c) Office Expenses A/c    Dr.   1,50,000 
To Drawings A/c                              1, 50,000 
d) Cash A/c    Dr.              1,50,000 
To Office Expenses A/c                  1, 50,000 
 
3. Choose the correct answer from the options given below:  [1] 
What will be the value of an asset at the end of fifth year from its date of purchase, if the 
asset was purchased for `75,000 with salvage value `5,000 at the end of its useful life of 
7 years? The depreciation would be charged as per Straight Line Method. 
a) ` 26,000 
b) ` 40,000 
c) ` 47,000 
d) ` 75,000 
 
4. Name the process of transferring entries from the journal to their respective accounts 
in the ledger.  [1] 
 
5. Choose the correct answer from the options given below:  [1]  
“Closing Stock appears at `56, 000 after sales during the year on March 31, 2017.” What 
would be this information regarded as? 
a) An event 
  
 
CBSE XI  | Accountancy 
Sample Paper ? 1 
 
     
 
b) A Transaction 
c) Both an event and a transaction 
d) Neither an event nor a transaction 
 
6. Choose the correct answer from the options given below:  [1]  
Which of the following branches of accounting helps overcome one of the limitations of 
accounting, that is, it ignores the effect of price level changes? 
a) Cost Accounting 
b) Financial Accounting 
c) Inflation Accounting 
d) Management Accounting 
 
7. Why are rules of debit and credit same for liability and capital?  [1] 
 
8. Choose the correct answer from the options given below:  [1] 
Mr. Karan, accountant at M/s Das & Das follows different methods of inventory valuation 
every year. Which of the following attributes of accounting information would be affected 
due to practice adopted by Mr. Karan above? 
a) Relevance 
b) Reliability 
c) Comparability 
d) Understandability 
 
9. Choose the correct answer from the options given below:  [1] 
A Gross Profit `15,000, Carriage Inwards `4,000, Rent `4,500, Drawings `6,000, Freight 
Outward `5,000, Repairs & Maintenance `4,800, Manufacturing Wages `5,000, Bad Debts 
Recovered `3,000.  What is the amount of net profit/loss? 
a) Profit of `3,700 
b) Loss of `300 
c) Profit of `8,200 
d) Loss of `1,300 
 
10. Which document is evidencing for the credit granted to the named person for the 
reason stated therein? [1] 
 
11. Choose the correct answer from the options given below:  [1] 
If wages paid for installation of newly purchased machinery are debited to Wages Account, 
then under which category of errors this would be classified as? 
a) Clerical Errors 
b) Errors of Principle 
c) Errors of Commission 
d) Compensating Errors 
 
  
 
CBSE XI  | Accountancy 
Sample Paper ? 1 
 
     
 
12. Is trial balance a statement or an account?  [1] 
 
13. Choose the correct answer from the options given below:  [1] 
If Salaries of `15, 000 paid to X have been debited to his personal account. What should be 
the rectifying entry required to be passed to correct this error? 
a) Salaries A/c      Dr.   15,000 
        To Cash A/c                     15,000 
b) Salaries A/c      Dr.   15,000 
        To X’s A/c                     15,000  
c) X’s A/c      Dr.   15,000 
        To Salaries A/c       15,000 
d) Cash A/c      Dr.   15,000 
        To Salaries A/c        15,000 
 
14. From the following information, find out profit: Capital at the end of the year `5, 00,000 
Capital in the beginning of the year `7, 50,000 Drawings made during the period  
`3, 75, 000. Additional capital introduced `50,000.  [3] 
(OR) 
Explain the following terms: 
i. Capital. 
ii. Drawings. 
iii. Account. 
 
15. Explain Historical Cost Principle and Consistency Assumption of Accounting.  [4] 
 
16. Give journal entries for the following:  [4] 
i. Received only 60 paise in rupee from official receiver of Mr. Vinod who owed 
`10,000. 
ii. Paid `7,300 to Vinod in full settlement of his account of `7,500. 
iii. Received cash from Vinod for a bad debt written off last year `500. 
(OR) 
Explain the Accrual Basis of Accounting. 
 
17. Prepare Trial Balance from the following information: Prepaid Expense `5,000, Profit & 
Loss A/c (Profit) `8,000, Outstanding Rent `2,000, Bad Debts Recovered `4,000, 
Interest on Investment `1,000, Due to Mohan `5,000, Bank overdraft `2,000, Discount 
Allowed `800, Due from Vinod `1,200, Investment `15,000, Patents `4,000, Machinery 
`6,000, Capital `10,000.  [4] 
 
18. A sold goods to B for `4,000 and drew a bill for the amount due at 3 months for the 
amount. B after giving his acceptance returned the bill to A. A discounted it from his 
bank for `3,900. On due date, bill returned dishonoured and bank paid `50 as noting 
charges. Give journal entries in the books of A only.  [4] 
Page 4


  
 
CBSE XI  | Accountancy 
Sample Paper ? 1 
 
     
 
CBSE 
Class XI Accountancy 
Sample Paper – 1 
 
Time: 3 hours Max. Marks: 80 
  
General Instructions: 
1. All questions are compulsory.  
2. Show your working notes clearly. 
 
Part A 
 
1. Which accounts are not considered while preparing the trial balance?  [1] 
 
2. Choose the correct answer from the options given below:  [1] 
What should be the rectifying entry for `1, 50,000 spent on a family trip enjoyed by Mr. 
Khanna and recorded them by debiting to Office Expenses A/c? 
a) Drawings A/c    Dr.      1,50,000 
To Cash A/c                                       1, 50,000 
b) Drawings A/c    Dr.      1,50,000 
To Office Expenses A/c                  1, 50,000 
c) Office Expenses A/c    Dr.   1,50,000 
To Drawings A/c                              1, 50,000 
d) Cash A/c    Dr.              1,50,000 
To Office Expenses A/c                  1, 50,000 
 
3. Choose the correct answer from the options given below:  [1] 
What will be the value of an asset at the end of fifth year from its date of purchase, if the 
asset was purchased for `75,000 with salvage value `5,000 at the end of its useful life of 
7 years? The depreciation would be charged as per Straight Line Method. 
a) ` 26,000 
b) ` 40,000 
c) ` 47,000 
d) ` 75,000 
 
4. Name the process of transferring entries from the journal to their respective accounts 
in the ledger.  [1] 
 
5. Choose the correct answer from the options given below:  [1]  
“Closing Stock appears at `56, 000 after sales during the year on March 31, 2017.” What 
would be this information regarded as? 
a) An event 
  
 
CBSE XI  | Accountancy 
Sample Paper ? 1 
 
     
 
b) A Transaction 
c) Both an event and a transaction 
d) Neither an event nor a transaction 
 
6. Choose the correct answer from the options given below:  [1]  
Which of the following branches of accounting helps overcome one of the limitations of 
accounting, that is, it ignores the effect of price level changes? 
a) Cost Accounting 
b) Financial Accounting 
c) Inflation Accounting 
d) Management Accounting 
 
7. Why are rules of debit and credit same for liability and capital?  [1] 
 
8. Choose the correct answer from the options given below:  [1] 
Mr. Karan, accountant at M/s Das & Das follows different methods of inventory valuation 
every year. Which of the following attributes of accounting information would be affected 
due to practice adopted by Mr. Karan above? 
a) Relevance 
b) Reliability 
c) Comparability 
d) Understandability 
 
9. Choose the correct answer from the options given below:  [1] 
A Gross Profit `15,000, Carriage Inwards `4,000, Rent `4,500, Drawings `6,000, Freight 
Outward `5,000, Repairs & Maintenance `4,800, Manufacturing Wages `5,000, Bad Debts 
Recovered `3,000.  What is the amount of net profit/loss? 
a) Profit of `3,700 
b) Loss of `300 
c) Profit of `8,200 
d) Loss of `1,300 
 
10. Which document is evidencing for the credit granted to the named person for the 
reason stated therein? [1] 
 
11. Choose the correct answer from the options given below:  [1] 
If wages paid for installation of newly purchased machinery are debited to Wages Account, 
then under which category of errors this would be classified as? 
a) Clerical Errors 
b) Errors of Principle 
c) Errors of Commission 
d) Compensating Errors 
 
  
 
CBSE XI  | Accountancy 
Sample Paper ? 1 
 
     
 
12. Is trial balance a statement or an account?  [1] 
 
13. Choose the correct answer from the options given below:  [1] 
If Salaries of `15, 000 paid to X have been debited to his personal account. What should be 
the rectifying entry required to be passed to correct this error? 
a) Salaries A/c      Dr.   15,000 
        To Cash A/c                     15,000 
b) Salaries A/c      Dr.   15,000 
        To X’s A/c                     15,000  
c) X’s A/c      Dr.   15,000 
        To Salaries A/c       15,000 
d) Cash A/c      Dr.   15,000 
        To Salaries A/c        15,000 
 
14. From the following information, find out profit: Capital at the end of the year `5, 00,000 
Capital in the beginning of the year `7, 50,000 Drawings made during the period  
`3, 75, 000. Additional capital introduced `50,000.  [3] 
(OR) 
Explain the following terms: 
i. Capital. 
ii. Drawings. 
iii. Account. 
 
15. Explain Historical Cost Principle and Consistency Assumption of Accounting.  [4] 
 
16. Give journal entries for the following:  [4] 
i. Received only 60 paise in rupee from official receiver of Mr. Vinod who owed 
`10,000. 
ii. Paid `7,300 to Vinod in full settlement of his account of `7,500. 
iii. Received cash from Vinod for a bad debt written off last year `500. 
(OR) 
Explain the Accrual Basis of Accounting. 
 
17. Prepare Trial Balance from the following information: Prepaid Expense `5,000, Profit & 
Loss A/c (Profit) `8,000, Outstanding Rent `2,000, Bad Debts Recovered `4,000, 
Interest on Investment `1,000, Due to Mohan `5,000, Bank overdraft `2,000, Discount 
Allowed `800, Due from Vinod `1,200, Investment `15,000, Patents `4,000, Machinery 
`6,000, Capital `10,000.  [4] 
 
18. A sold goods to B for `4,000 and drew a bill for the amount due at 3 months for the 
amount. B after giving his acceptance returned the bill to A. A discounted it from his 
bank for `3,900. On due date, bill returned dishonoured and bank paid `50 as noting 
charges. Give journal entries in the books of A only.  [4] 
  
 
CBSE XI  | Accountancy 
Sample Paper ? 1 
 
     
 
19. Record the following transactions in Simple Cash Books of Harsh Traders for the month 
January 2015.  [6] 
1:  Cash in hand `20,000. 
3:  Received cash on account from Raj `5,000. 
6:  Purchased machinery `8000. 
9:  Insurance premium paid `2,500. 
12:  Sold goods for cash `10,000. 
13:  Received commission `2,000. 
15:  Purchased postal stamps `500. 
18:  Purchased goods for cash from Omkar Brothers `1,600. 
23:  Cash paid to Paras `3,000 on account. 
26:  Paid rent `4,500. 
28:  Sold old furniture `3,000. 
29:  Deposited into bank `1,800.  
31:  Paid salary to office staff `6,000. 
(OR) 
Distinguish between Provisions and Reserves. 
 
20. Prepare a Bank Reconciliation Statement on 31
st
 December 2015 for the following when 
credit balance as per bank column of cash book is `1,800: [6] 
i. Cheques issued, but not presented for payment `360. 
ii. Cheque deposited but not collected by the bank. `70 
iii. Interest on overdraft charged by the bank `30. 
iv. A customer directly deposited in bank `500. 
 
21. Vinod Ltd., purchased a Plant on 1st April, 2005 for `15,000. It purchased another plant 
on 1st October, 2005 costing `20,000 and on 1st July, 2006 costing `30,000. On 1st 
January, 2007 the Plant purchased on 1st April, 2005 became useless and was sold for 
`2,000. Show Plant Account charging 10% p.a. depreciation by fixed instalment method 
for four years. The plant purchased on 1
st
 October, 2005 was sold for `8,000 on 1st 
January, 2008. Accounts of the company are closed on 31st December each year.  [8] 
(OR) 
Pass journal entries in the books of A. 
A sold goods to B for `10,000 on December 10, 2016 and drew a bill for the same 
amount payable after 3 months. The bill was accepted by B which was later discounted 
for `9,500 by A on January 02, 2017. On the due date bill was dishonoured. B paid 
`4,200 immediately including Rs 200 as interest and accepted a new bill for `6,000. The 
new bill was endorsed by A to C, one of his creditor for Rs 6,000. The new bill was duly 
met by B. 
 
 
 
Page 5


  
 
CBSE XI  | Accountancy 
Sample Paper ? 1 
 
     
 
CBSE 
Class XI Accountancy 
Sample Paper – 1 
 
Time: 3 hours Max. Marks: 80 
  
General Instructions: 
1. All questions are compulsory.  
2. Show your working notes clearly. 
 
Part A 
 
1. Which accounts are not considered while preparing the trial balance?  [1] 
 
2. Choose the correct answer from the options given below:  [1] 
What should be the rectifying entry for `1, 50,000 spent on a family trip enjoyed by Mr. 
Khanna and recorded them by debiting to Office Expenses A/c? 
a) Drawings A/c    Dr.      1,50,000 
To Cash A/c                                       1, 50,000 
b) Drawings A/c    Dr.      1,50,000 
To Office Expenses A/c                  1, 50,000 
c) Office Expenses A/c    Dr.   1,50,000 
To Drawings A/c                              1, 50,000 
d) Cash A/c    Dr.              1,50,000 
To Office Expenses A/c                  1, 50,000 
 
3. Choose the correct answer from the options given below:  [1] 
What will be the value of an asset at the end of fifth year from its date of purchase, if the 
asset was purchased for `75,000 with salvage value `5,000 at the end of its useful life of 
7 years? The depreciation would be charged as per Straight Line Method. 
a) ` 26,000 
b) ` 40,000 
c) ` 47,000 
d) ` 75,000 
 
4. Name the process of transferring entries from the journal to their respective accounts 
in the ledger.  [1] 
 
5. Choose the correct answer from the options given below:  [1]  
“Closing Stock appears at `56, 000 after sales during the year on March 31, 2017.” What 
would be this information regarded as? 
a) An event 
  
 
CBSE XI  | Accountancy 
Sample Paper ? 1 
 
     
 
b) A Transaction 
c) Both an event and a transaction 
d) Neither an event nor a transaction 
 
6. Choose the correct answer from the options given below:  [1]  
Which of the following branches of accounting helps overcome one of the limitations of 
accounting, that is, it ignores the effect of price level changes? 
a) Cost Accounting 
b) Financial Accounting 
c) Inflation Accounting 
d) Management Accounting 
 
7. Why are rules of debit and credit same for liability and capital?  [1] 
 
8. Choose the correct answer from the options given below:  [1] 
Mr. Karan, accountant at M/s Das & Das follows different methods of inventory valuation 
every year. Which of the following attributes of accounting information would be affected 
due to practice adopted by Mr. Karan above? 
a) Relevance 
b) Reliability 
c) Comparability 
d) Understandability 
 
9. Choose the correct answer from the options given below:  [1] 
A Gross Profit `15,000, Carriage Inwards `4,000, Rent `4,500, Drawings `6,000, Freight 
Outward `5,000, Repairs & Maintenance `4,800, Manufacturing Wages `5,000, Bad Debts 
Recovered `3,000.  What is the amount of net profit/loss? 
a) Profit of `3,700 
b) Loss of `300 
c) Profit of `8,200 
d) Loss of `1,300 
 
10. Which document is evidencing for the credit granted to the named person for the 
reason stated therein? [1] 
 
11. Choose the correct answer from the options given below:  [1] 
If wages paid for installation of newly purchased machinery are debited to Wages Account, 
then under which category of errors this would be classified as? 
a) Clerical Errors 
b) Errors of Principle 
c) Errors of Commission 
d) Compensating Errors 
 
  
 
CBSE XI  | Accountancy 
Sample Paper ? 1 
 
     
 
12. Is trial balance a statement or an account?  [1] 
 
13. Choose the correct answer from the options given below:  [1] 
If Salaries of `15, 000 paid to X have been debited to his personal account. What should be 
the rectifying entry required to be passed to correct this error? 
a) Salaries A/c      Dr.   15,000 
        To Cash A/c                     15,000 
b) Salaries A/c      Dr.   15,000 
        To X’s A/c                     15,000  
c) X’s A/c      Dr.   15,000 
        To Salaries A/c       15,000 
d) Cash A/c      Dr.   15,000 
        To Salaries A/c        15,000 
 
14. From the following information, find out profit: Capital at the end of the year `5, 00,000 
Capital in the beginning of the year `7, 50,000 Drawings made during the period  
`3, 75, 000. Additional capital introduced `50,000.  [3] 
(OR) 
Explain the following terms: 
i. Capital. 
ii. Drawings. 
iii. Account. 
 
15. Explain Historical Cost Principle and Consistency Assumption of Accounting.  [4] 
 
16. Give journal entries for the following:  [4] 
i. Received only 60 paise in rupee from official receiver of Mr. Vinod who owed 
`10,000. 
ii. Paid `7,300 to Vinod in full settlement of his account of `7,500. 
iii. Received cash from Vinod for a bad debt written off last year `500. 
(OR) 
Explain the Accrual Basis of Accounting. 
 
17. Prepare Trial Balance from the following information: Prepaid Expense `5,000, Profit & 
Loss A/c (Profit) `8,000, Outstanding Rent `2,000, Bad Debts Recovered `4,000, 
Interest on Investment `1,000, Due to Mohan `5,000, Bank overdraft `2,000, Discount 
Allowed `800, Due from Vinod `1,200, Investment `15,000, Patents `4,000, Machinery 
`6,000, Capital `10,000.  [4] 
 
18. A sold goods to B for `4,000 and drew a bill for the amount due at 3 months for the 
amount. B after giving his acceptance returned the bill to A. A discounted it from his 
bank for `3,900. On due date, bill returned dishonoured and bank paid `50 as noting 
charges. Give journal entries in the books of A only.  [4] 
  
 
CBSE XI  | Accountancy 
Sample Paper ? 1 
 
     
 
19. Record the following transactions in Simple Cash Books of Harsh Traders for the month 
January 2015.  [6] 
1:  Cash in hand `20,000. 
3:  Received cash on account from Raj `5,000. 
6:  Purchased machinery `8000. 
9:  Insurance premium paid `2,500. 
12:  Sold goods for cash `10,000. 
13:  Received commission `2,000. 
15:  Purchased postal stamps `500. 
18:  Purchased goods for cash from Omkar Brothers `1,600. 
23:  Cash paid to Paras `3,000 on account. 
26:  Paid rent `4,500. 
28:  Sold old furniture `3,000. 
29:  Deposited into bank `1,800.  
31:  Paid salary to office staff `6,000. 
(OR) 
Distinguish between Provisions and Reserves. 
 
20. Prepare a Bank Reconciliation Statement on 31
st
 December 2015 for the following when 
credit balance as per bank column of cash book is `1,800: [6] 
i. Cheques issued, but not presented for payment `360. 
ii. Cheque deposited but not collected by the bank. `70 
iii. Interest on overdraft charged by the bank `30. 
iv. A customer directly deposited in bank `500. 
 
21. Vinod Ltd., purchased a Plant on 1st April, 2005 for `15,000. It purchased another plant 
on 1st October, 2005 costing `20,000 and on 1st July, 2006 costing `30,000. On 1st 
January, 2007 the Plant purchased on 1st April, 2005 became useless and was sold for 
`2,000. Show Plant Account charging 10% p.a. depreciation by fixed instalment method 
for four years. The plant purchased on 1
st
 October, 2005 was sold for `8,000 on 1st 
January, 2008. Accounts of the company are closed on 31st December each year.  [8] 
(OR) 
Pass journal entries in the books of A. 
A sold goods to B for `10,000 on December 10, 2016 and drew a bill for the same 
amount payable after 3 months. The bill was accepted by B which was later discounted 
for `9,500 by A on January 02, 2017. On the due date bill was dishonoured. B paid 
`4,200 immediately including Rs 200 as interest and accepted a new bill for `6,000. The 
new bill was endorsed by A to C, one of his creditor for Rs 6,000. The new bill was duly 
met by B. 
 
 
 
  
 
CBSE XI  | Accountancy 
Sample Paper ? 1 
 
     
 
Part B 
 
22. Adjustments for outstanding expenses, prepaid expenses or depreciation are not made 
in receipts and payments accounts. Why?  [1] 
 
23. Choose the correct answer from the options given below:  [1] 
Which of the following is not an example of indirect manufacturing expenses: 
a) Depreciation on Machinery 
b) Repairs & Maintenance 
c) Insurance Premium for goods 
d) Raw Materials Consumed 
 
24. Choose the correct answer from the options given below:  [1] 
The capital of a sole trader would change as a result of __________________. 
a) Credit Purchase of Raw Material 
b) Wages paid in cash 
c) Credit Purchase of Fixed Assets 
d) Creditor being paid his account by cheque 
 
25. Name the accounting software appropriate for small business organizations, having one 
user and single office location.  [1] 
 
26. Choose the correct answer from the options given below:  [1] 
Goodwill is ________________. 
a) An investment 
b) A current asset 
c) An intangible fixed asset 
d) A tangible fixed asset 
 
27. Choose the correct answer from the options given below:  [1] 
A prepayment of insurance premium will appear in the Balance Sheet as 
_____________________. 
a) A current liability 
b) A current asset 
c) A non-current asset 
d) A fixed asset 
 
28. Choose the correct answer from the options given below:  [1] 
Which of the following is not a limitation of Financial Statements? 
a) True and fair view of the Business 
b) Different Accounting Policies 
c) Historical Records 
d) Affected by Estimates 
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