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SUB: ACCOUNTANCY Total Marks: 80

STD: XI commerce Time: 3 Hours
General instructions:
● This paper contains A to F sections. Internal options are given.

● Start every section from new page.

SECTION A
Que.no.1 to 8 is objective type questions select the correct option and give answers.
(Each of 1mark) {08}
1) Accounting is known as……
a) Historical accounting b) Future accounting c) Present accounting d) Financial accounting

2) Commission paid Rs. 10000,which type of transaction it is?

a) Cash transaction of asset b) Non-cash transaction of service
c) Cash transaction of service d) Cash transaction of liability

3) When goods distributed as free sample.

a) Decrease in assets – decrease in liability b) Decrease in assets – decrease in capital
c) Increase in assets – increase in liability d) Increase in assets – increase in capital

4) Based on …………concept, Profit & loss account and balance sheet are prepared at the end of each
accounting period.
a) Materiality b) Cost c) Money measurement d) periodicity

5) In India, the institute of chartered accountants of India (ICAI) set up Accounting Standards Board
(ASB) on……
a) 22 April, 1977 b) 21 April, 1977 c) 23 April, 1957 d) 22 April, 1975

6) Normally who uses single entry accounting methods?

a) Businessmen b) Small traders c) Public companies d) Government companies.

7) ………. is called brain of computer.

a) CPU b) Memory c) USB d) Monitor

8) Which of the following is not an input device?

a) Mouse b) Touch screen c) speaker d) key- board.

SECTION B
Question.no.9 to 15 is very short questions. Write answers in one or two sentences.
(Each of 1mark) {07}
9) What are the intangible assets?
10) What is depreciation?
11) What is non economic transaction (Give 1 example).
12) Give two examples of goods going out other than sales.
13) Explain in brief any two features of computerized accounting system.
14) Write the full form of ICAI.
15) What is Double entry system?

SECTION C
Question .no. 16 to 24 are short questions answers. Give answers as asked.
(Each of 3 marks) {27}
16) Write the journal entry for the following transactions in the books of Manjuben 2017
(i) Opened bank account with Dena bank by depositing Rs.5000.
(ii) Bank has credited Rs 400 for interest and debited Rs 200 for a bank charges.
(iii) Goods of Rs 800 received as free sample.
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17) Write the following transaction is true or false.

(i) Journal is a primary book of accounting.
(ii) In accounting, written document of any transaction is called Voucher.
(iii) When the accounting work ends, the work of audit begins.

18) Prepare sales book in the books of Savita Shah from the following:
June - 1 Sold goods of Rs. 9000 at 5% trade discount and 5% cash discount to Mukesh on one
Month credit bill no. 142.
June - 2 Vishal placed an order of supplying goods of Rs.12000 at 10 % trade discount .
June -3 Sold goods of Rs 8000 to Utakarsh at 10 % trade discount, then paid bill amount,
Immediately.

19) Record the following transactions in the journal proper of Varsha Company.
(i) Gods of Rs. 10000 was destroyed due to fire, for which insurance company accepted a claim of
Rs.4000 and Rs 400 realized from sale of destroyed goods.
(ii) Started business with stock of goods Rs 60,000, Furniture Rs 50,000 and creditors Rs. 26,000.
(iii) Gave goods of Rs. 2600 in charity.

20) Write journal entries for the following transactions and post them accordingly.
(i) Paid bank Interest Rs 1650
(ii) Credit sales to Rameshbhai Rs. 170000.
(iii) Salary paid Rs.14400.

21) Prepare Trial balance from the following balances:

Name of account Rs Name of account Rs

Capital 4,00,000 Bank 2,36,000

Bills payable 76,000 Sales 6,00,000

Stock 1,40,000 Debtors 6,00,000

Bank Loan 3,00,000 Purchases 4,00,000

22) What is Reserve? State two differences between Capital reserve and General reserves?

23) What is Rojmel?

OR
What is Deshi Nama system? Explain in brief.

24) On 1-06-2016, Dhrumil drew a 3 months bill of Rs.72000 for his outstanding amount due from
Anuj, which was accepted by Anuj .On 4-7-2016 Dhrumil discounted this bill with the bank at 10%
p.a. The bill was dishonored on maturity date and the bank debited the entire amount including noting
charges of Rs.360 to Dhrumil. Pass necessary journal entries in the books of Dhrumil and Anuj.
OR
24) Differentiate between Single entry system and Double entry system?

SECTION D
Questions 25 and 26 are essay type questions answer accordingly. {08}
25) From the following transactions prepare bank and cash column cash book :
2016
March 1 Opening cash balance Rs 10, 000, Bank overdraft Rs.2,000
2 General expenses paid Rs 1000
3 Deposited into bank Rs4, 000.
7 Purchased goods from Hariom on credit Rs8,000.
8 Drew from bank for personal use Rs200
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10 Paid to Hariom in full settlement Rs7000

15 Recovered from Ram, who owes Rs 10,000and Rs 4,000

26) After preparing final accounts of Shri Samlal the following errors are detected in the next year.
Pass rectification entries to rectify the same:
(i) Total of purchase book is under cast by Rs 1600

(ii) Personal expenses of Rs. 28000 are debited to sundry expense account.

(iii) Purchase of furniture Rs. 74000 is debited to purchase account.

(iv) Goods of Rs.18000 are completely burnt by fire and insurance company has accepted the 100%
claim for the same, which is unrecorded by mistake.

SECTION E

Questions 27 to 29 are essay type questions answer accordingly. {18}

27) On 31st Dec, 2017 Cash book shows a balance of Rs.25000

Particulars Amt (in Rs)

Cheque issued but not yet presented for payment 12,000

Cheque deposited in to bank but not collected 18,000

Bank paid insurance premium 10,000

Bank charges 600

Directly deposited by a customer 16,000

Interest on investment collected by bank 4,000

From the above particulars prepare Bank Reconciliation statement.

28) On 1.4.19 one Machine was purchased at Rs. 95000 and installation expense incurred Rs. 5000.
Another Machine was purchased on 1.4.20 for Rs. 50000. On 31.3.22 first machine was sold at 20%
loss. If company provides depreciation at 10% as per straight line method, prepare Machine a/c for last
three year.

29) From the following information of Rotary club, prepare Receipt-payment account for the year
ending on 31.3.22

Particulars Amt Rs. Particulars Amt Rs.

Cash balance (1.4.21) 30000 Hall Rent paid 6000
Bank balance (1.4.21) 40000 Contribution of 16700
Entertainment prog.
Entrance fee 15000 Donation 21000
Membership fee 39000 Donation for pavilion 40000
Furniture purchase 9000 Salary 23900
Books purchase 8000 Sale of old news papers 1400
Equipments purchase 55000 Expense of entertainment 26600
prog.
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Subscription of news 2500 Electricity bill 7600

papers
Lectures income 1800 Sale of old furniture 4400
Lifetime membership fee 11000 Pavilion construction 28000
expense
Cash balance (31.3.22) 23200

SECTION F

Answer the following question showing working notes wherever required. {12}
Q30.From Following Trial Balance has been extracted from the books of M/s. Sam Prasad & Sons on
31st March, 2018:
Particulars Dr. Amount (in Rs) Particulars Cr. Amount (in Rs)

Machinery 8,00,000 Capital 18,00,000

Cash at Bank 2,00,000 Sundry Creditors 9,00,000

Cash in hand 1,00,000 Sales 32,00,000

Wages 2,00,000 Interest received 60,000

Purchases 16,00,000

Stock on 1st April 12,00,000

2017

Sundry debtors 8,80,000

Bills receivables 5,80,000

Rent 90,000

General Expenses 1,60,000

Salaries 1,00,000

Commission 50,000

TOTAL 59,60,000 TOTAL 59,60,000

Adjustments:
(i)Outstanding salaries were Rs 90,000.
(ii) Depreciate Machinery at 10%.
(iii) Wages outstanding were Rs 10,000.
(iv) Rent prepaid Rs 20,000.
(v) Provide for interest on capital 5% per annum.
(vi) Stock on 31 March, 2018 Rs 16,00,000.
Prepare trading account, Profit & loss account and Balance sheet from the above information.

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