KAMALA NIKETAN MONTESSORI SCHOOL (CBSE)-2020-21

STD: XI ANNUAL EXAMINATION MARKS:80

SUB:ACCOUNTANCY TIME: 3 HRS
PART A 20X1=20
1. If the Opening capital is Rs.20,000 as on April 01,2014 and additional capital introduced
Rs.10,000 on January 01,2015. Interest charge on capital 10% p.a . The amount of interest on
capital shown in profit and loss account as on March 31,2015 will be:
(a) Rs.5,250 (b)Rs.6,000 (c) Rs.2250 (d) Rs.3,000
2. State True or False:
Gross profit is total revenue
3. Operating Profit=____________ + Non Operating Expenses-Non operating Incomes
4. State True or False.
5 A bill of Exchange is drawn for all cash transaction.
6. What is Depreciation?
7 Mention any two Classifications of Errors.
8.___________ is a Revenue
(a) Sales (b) Salary (c) Interest (d) Depreciation
9 What is Journal Proper?
10. The disagreement of trial balance indicates that an ……………….. has been committed.
11. Goods purchased are always recorded in purchases book. Is it true or false? Give reason
12 Give any one advantage of using computers in accounting.
13. The debit notes issued are used to prepare which book?
14 The amount of money that is owed by an outsider is a/an
(a) asset (b) liability (c) expense (d) capital
15 Sudesh’s salary is `RS. 10,000 per month. During a month, he withdrew goods worth `
2,500 for personal use and also got ` 9,500 in cash. The excess payment of ` 2,000 will be
debited to
(a) Salary A/c (b) Purchases A/c (c) Salary-in-advance A/c (d) Sales A/c

16 What do you understand by cash basis of accounting?

17 What is current liability?
18What is balance sheet.
19 Give one example for accounting software
20 Is trade discount recorded in books of accounts?

PART B 2X3=6

21 Give the full form

(i) CGST (ii) SGST (iii) UTGST (iv) IGST (or)
Explain the dual concept of accounting

22 What is outstanding expense ?What adjustment entry is passed at the end of the year for
outstanding expenses?

PART C 4X5=20
23 Complete the accounting equation
(a) Assets = Capital + Liabilities
` RS1,00,000 = ` RS80,000 + ?
(b) Assets = Capital + Liabilities
` RS 2,00,000 = ? + `RS 40,000
(c) Assets = Capital + Creditors
? = ` RS 1, 60,000 + RS` 80,000

24.(a )Find the Rate of Depreciation under Straight line method. The Original Cost of a car is
Rs.5,00,000 and its net salvage value after 10 years of useful life is Rs 50000.

25 Prepare bank reconciliation statement as on 31st December, 2017 from the

following
information:
(a) Balance as per bank statement (pass book) is `RS 25,000
(b) No record has been made in the cash book for a dishonour of a cheque for RS` 250
(c) Cheques deposited into bank amounting to RS` 3,500 were not yet collected
(d) Bank charges of RS` 300 have not been entered in the cash book.
(e) Cheques issued amounting to RS` 9,000 have not been presented for payment

26. a) List any three differences between provisions and reserves (4)
Or
b)Distinguish between a ‘ready-to use’ and ‘tailored’ accounting software
27 . Following information is given below prepare the statement of profit and loss.
Rs.
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

PART D 3X6=18

28 ) List the various advantages of Computerized accounting systems

OR

Give any 5 differences between straight line method and written down value method

29 Prepare a analytical petty cash book from the following information on the imprest
system: 2017 ` Rs
Jan. 1 Received for petty cash 500
Jan. 2 Paid rickshaw charges 5
Paid cartage 12
Jan. 3 Paid for postage 15
Paid wages to casual labourer 66
Jan. 4 Paid for stationery 134
Paid for auto charges 18
Jan. 5 Paid for repairs 65
Paid for bus fare 11
Paid for cartage 24

30. Calculate the commission to manager if Net profit is Rs.5, 00,000 and the Commission is
(i) 5% on Net Profit before charging such Commission and pass the journal entries.
(ii) 10% on Net Profit after charging such Commission (OR)
. Pass the journal entries for the following and find the amount to be shown under debtors in
the balance sheet for the year ended March 31, 2014
Rs.
Debtors 80,000
Bad debts 2,000
Provision for doubtful debts 5,000
Adjustments:
Further Bad debts Rs.500; Provision on debtors @3%

31 . Rectify the following errors by passing journal entries, using a suspense account.
(i) The purchase of RS` 4,000 from Bheem was entered into sales book but Bheem's personal
account was rightly credited.
(ii) The sale of `RS 4,300 to Nakul was credited in his account as ` 3,400.
(iii) The sale of old furniture of `RS 5,400 was credited to sales account as ` 4,500.
(iv) Goods worth `RS 1,000 were taken by the proprietor which was not recorded.
(v) The sale of `RS 2,960 to Arjun was entered in sales book as ` 2,690.
(vi) Sales return book balance of `RS 2,100 was not included in the accounts.

(OR)

Prepare a double column cash book with help of following information for December 2016 :

Date ₹
01 Started business with cash 1,20,000
03 Cash paid into the bank 50,000
05 Purchased goods from sushmitha 20,000
06 Sold goods to Dinker and received a cheque 20,000
10 Paid to Sushmita cash 20,000
14 Cheque received on December 06,2010 deposited into bank 12,000
18 Sold goods to Rani 500
20 Cartage paid in cash 12,000
22 Received cash from Rani 5,000
27 Commission received 2,000
30 Drew cash for personal use
32.

Consider the following balances extracted from the books of Jain as an 31st December, 2016.
Prepare the final accounts.

Particulars ₹ Particulars ₹
Capital 20,000 Office salaries a paid 6,600
Debtors 8,000 Establishment expenses 4,500
Creditors 10,500 Selling expenses 2,300
Purchases 60,000 Furniture 10,000
Sales 80,000 Cash at bank 2,400
Income tax of jain paid 500 Miscellaneous receipts 600
Opening stock 12,000 Drawings 4,800

Adjustments
(a) Salaries outstanding for December, 2016 amounted to Rs` 600
(b) Provide depreciation on furniture @ 10% p.a.
(c) Provide interest on capital for the year @ 5% p.a.
(d) Stock on 31st December, 2016 ` RS14,000

(OR)

Particulars Debit Credit

₹ ₹
Capital 1,20,000
Sundry Debtors and creditors 22,000 22,500
Sales 59,700
Drawings 2,000
Cash in hand 8,200
Cash at bank 30,000
Wages 2,500
Purchases 10,000
Opening stock 30,000
Business premises 60,000
Bills Receivable 14,500
Office telephone expenses 3,500
General expenses 9,000
Goodwill 10,500
2,02,000 2,02,000

Adjustments:
(a) The stock value at the end of the accounting period was `RS 5,000
(b) Interest on capital at 6% is to be provided
(c) Interest on drawing at 5% is to be provided
(d) Write off bad debts amounting to `RS 2,000
(e) Create provision for bad and doubtful debts
on sundry debtors @ 10%
Prepare final accounts for the year ended 31st March, 2016.