SUTLEJ PUBLIC SR SEC SCHOOL

ANNUAL EXAMINATION (SESSION 2021- 22)

CLASS XI COMMERCE
SUBJECT: ACCOUNTANCY
TIME: 2 hours MM 40
General Instructions:
1. Attempt all questions. All parts of a question should be attempted at one place.
2. Write down the question number clearly before attempting the question. There are 14 questions in
total.
3. 25% of the marks allotted to the question would be deducted for not using correct format,
narrations and working notes.
4. Nothing should be written on the question paper.
5. There is no overall choice. However, there is an internal choice in questions carrying 4 marks, 6
marks and 8 marks.

Q No Marks
1 What is the common objective of single entry system and double entry system? 1
2 It is responsible for performing the arithmetic computations such as addition, subtraction 1
and multiplication etc.
Identify the component of a computer involved here.
3 What is Human Ware? 1
4 Ram purchased goods from Shyam for Rs 2,000 on 1st March, 2021, and accepted a 1
bill of exchange for 2 months drawn by him by Shyam on the same date for the
amount. Shyam got the bill discounted at his bank at 12% p.a. Calculate the amount
of discount in this case.
5 Give any one limitation of Single Entry system. 1
6 What is meant by Accounting Information System? 1
7 If Prepaid Insurance is given in trial balance, how will it be treated in the Financial 1
Statements?
8 Mention any two capabilities of computer system. 1
9 Karan sells goods to Varun for Rs. 50,000 on 1 st April, 2020 and draws two bills on him 3
for Rs 20,000 and Rs 30,000 payable after 3 months and 5 months respectively. The
first bill was retained till maturity and the second bill was discounted with the bank
on 4th May, 2020 @ 12% p.a. The first bill was honoured on the due date but the
second bill was dishonoured and noting charges of Rs 550 were paid. Pass necessary
journal entries in the books of Karan.
10 Calculate Gross Profit and Operating Profit from the extract of the Trial Balance of 3
M/s Aggarwal Shoes :
Books of Aggarwal Shoes
Trial Balance (extract)
As at 31.3.19
Dr. Balances Amt (Rs.) Cr. Balances Amt (Rs.)
Opening Stock 50,000 Net Sales 11,00,000
Net Purchases 6,00,000 Gain on sale of Land 30,000
Direct Expenses 60,000 Commission Received 10,000
Office Expenses 45,000
Selling expenses 65,000
Accidental loss 20,000
Stock at the end (31.3.20) was Rs. 70,000.
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11 On 1st April., 2020 Mr. X started business with a capital of Rs 40,000. He withdrew Rs 4
6,000 per quarter during this period. On 1 st October, 2020, he sold his personal
investments worth Rs 20,000 at a premium of 10%. Half of the amount realised was
invested into the business.
On 31st March, 2021 his position was
Rs Rs
Cash 10,000 Bills Payable 10,000
Stock 40,000 Furniture 12,000
Debtors 50,000 Plant 68,000
Creditors 30,000
Prepare Statement of Affairs as on 31st March 2017 and calculate profit or loss made
by Mr X during this period after considering the following adjustments:
(i) Plant is to be depreciated @ 10%
(ii) Maintain a provision for doubtful debts @ 5%
OR
Mr. Manu started business with a capital of Rs 4,00,000 on 1st Oct., 2016. He
borrowed from his friend a sum of Rs 1,00,000 for business and brought a further
amount of Rs 75,000 as capital.
On 31st March, 2017 his position was
Rs
Cash 30,000
Stock 4,70,000
Debtors 3,50,000
Creditors 3,00,000
He withdrew Rs 8,000 per month during this period. Prepare Statement of Affairs as
on 31st March 2017 and calculate profit or loss made by Mr. Manu during this period.
12 A book keeper prepared a trial balance on 31 st March, 2021 which showed a 6
difference of Rs 140 (excess credit).The difference was placed to Suspense Account.
The following errors were subsequently located.
(a) A sale of goods to Raju for Rs 600 had been posted to the wrong side of the
account.
(b) A purchase of goods for Rs 1,640 from Umesh, had been posted to his personal
account as Rs 640.
(c) A credit sale of old furniture for Rs 150 had been passed through the sales day
book.
(d) The discount received account has been cast short by Rs 60.
Pass journal entries to rectify the above errors and prepare Suspense Account.
OR
(i) The following are the balances extracted from the books of Mr. Amar. Prepare a
trial balance as on 31st March, 2020.
Particulars Rs. Particulars Rs.
Cash 2,000 Prepaid Insurance 1,500
Bad debts 500 Freehold premises 8,000
Bank overdraft 10,000 Salary outstanding 2,000

(ii) The Trial Balance of a firm did not match and the difference was placed in
suspense account. The following errors were subsequently identified.
a) Sales book was overcast by Rs.200
b) Goods sold to Manohar for Rs.550 was posted as Rs. 5,500.
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 c) Purchases book was overcast by Rs.800
d) Purchase return book was carried forward as Rs. 1,220 instead of Rs. 1,120
Pass the necessary journal entries to rectify the errors.
13 Pass necessary Journal entries for the following transactions in the books of Amartex.
1. Sold to Ankush for Cash, goods of the list price Rs. 1,00,000 less 10% trade
discount.
2. Purchased goods of list price Rs. 5,00,000 from Rajdhani Metals of Mumbai less
20% trade discount.
3. Paid rent Rs. 50,000 by cheque to landlord (Half of the property was used by the
proprietor for his residential purpose).
4. Purchased a machinery for cutting/bending aluminium tubes from Vikas
Engineering Works for Rs. 1,34,400 (net amount payable) and issued a cheque for Rs.
1,34,400.
5. Goods valued at Rs. 15,000 purchased locally were destroyed by a loss by fire in
godown. These goods were insured and the insurance company admitted the claim in
full but amount was not yet received from the insurance company.
6. Paid salaries Rs. 50,000 by cheque and Rs. 5,000 were still due to be paid to
Ramchandra (an employee).
7. Paid interest on bank loan Rs. 5,000 and paid Rs. 2,00,000 out of the principal
amount of bank loan by cheque.
OR
(a) Pass necessary Journal entries for the following transactions: (4)
2021 Amt (Rs)
Jan 01 Sold to Akash, goods of the list price less 20% trade discount. 50,000
Jan 10 Bank charged as bank/ folio charges for maintaining current 200
account.
Jan 15 Paid rent Rs. 15,000 by cheque to landlord out of which Rs.
3,000 was related to property used for personal purpose.
Jan 20 Akash became bankrupt and only 50% could be recovered
from his official receiver.
Jan 30 Accrued commission 5,000

(b) Enter the following transactions in cash book with cash and bank columns: (4)
2021 Amount (Rs)
Jan 01 Bank overdraft 12,000
Cash-in-Hand 2,300
Jan 07 Cheque received from Raja 4,000
Discount allowed 200
Jan 09 Cheque received from Raja deposited in bank
Jan 20 Money withdrawn from bank for office use 3,400
Jan 23 Fees of children paid by cheque 75
Jan 27 Bank Charges 20
14 Prepare Trading and Profit and Loss Account and Balance Sheet from the following 8
trial balance of Pankaj and adjustments as on 31st March, 2021:
Name of Account Debit (Rs) Credit (Rs)
Drawings and Capital 15,000 3,25,000
Plant and Machinery 2,00,000
Motor Vehicle 1,50,000
Returns 25,000 37,000
Stock at commencement 82,000
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 Purchases and Sales 4,40,000 6,75,000
Carriage 6,000
Trade Expenses 2,500
Bad Debts 4,250
6,000
Provision for Bad and Doubtful Debts
4,000
Rent Received
Rent, Rates and Taxes 12,000
Salaries and Wages 24,000
55,000
Debtors and Creditors 70,500
Fuel and Coal 4,250
Cash in Hand 16,500
Cash at Bank 50,000
11,02,000 11,02,000
Adjustments:
(a) Stock at the end was valued at Rs 1,10,000.
(b) Rent of premises sublet is Rs 300 per month.
(c) Salaries for the month of February and March are still unpaid.
(d) Rs 500 due from Yasmin for goods sold to her on credit were not recoverable.
Provide 5% provision for doubtful debts.
(e) Depreciate Plant and Machinery by 15% and Vehicle by 25%.
(f) Coal for Rs 1,750 was purchased without payment but this transaction was
omitted to be recorded.
OR
The following Trial Balance was extracted from the books of Mr. Gauransh as at 31st
March, 2021
Particulars Amt (Rs.) Particulars Amt (Rs.)
Capital 2,45,000 Loan 78,800
Drawing 20,000 Sales 6,53,600
General expenses 47,400 Purchases 4,70,000
Building 1,10,000 Motor car 20,000
Machinery 93,400 Provision for doubtful debt 9,000
Stock on 1st April,2020 1,62,000 Commission (Cr.) 13,200
Insurance 13,150 Car Expenses 18,000
Wages 72,000 Bill Payable 38,500
Debtors 62,800 Cash 800
Creditors 25,000 Bank overdraft 33,000
Bad debts 5,500 Charity 1,050
Prepare Trading And Profit And Loss Account for the year ended and Balance Sheet as
at that date after giving effect to the following adjustments:
a) Stock as on 31st March,2021 was valued at Rs.2,30,000
b) Write off further Rs. 1,800 as Bad Debts and maintain a provision for doubtful
debts at 5%.
c) Depreciate Machinery at 10%.
d) Provide Rs. 7,000 as outstanding interest on loan.

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