SET - A

DELHIPUBLIC SCHOOL, UDAIPUR

SESSION: 2023-24
ANNUAL EXAMINATION
CLASS XI
SUBJECT: ACCOUNTANCY (055)
TIME 3 HOURS MAX. MARKS 80

GENERAL INSTRUCTIONS:
1. This question paper contains 34 questions. Allquestions are compulsory.
2. This question paper is divided into two parts, Part A and B.
3. Part - A is compulsory for allcandidates.
4. Part - B is compulsory for all candidates.
5. Question 1 to 16 and 26 to 29 carries 1 mark each.
6. Questions 17 to 20, 30and 31 carries 3 marks each.
7. Questions from 21, 32 and 33 carries 4 marks each
8. Ouestions from 22 to 25 and 34 carries 6 marks each
9. There is no overall choice. However, an internal choice has been provided in 7 questions of
one mark, 2 questions of three marks, 1 question of four marks and 2 questions of six marks.

PART A: FINANCIAL ACCOUNTING-I

Q1. Which of the following is not an internal user of financial statements? [1]
(a) Board of directors (b) Managers
() Employees (a) None of these
Q2. Answer the question on the basis of following hypothetical theory: [1]
Gopal started business for buying and selling of readymade garments with Rs8,00,000 as an
initial investment. Out of this he paid Rs.4,00,000 for the purchase of garments and Rs.50,000
for furniture and Rs.50,000 for computers and the remaining amount was deposited into the
bank. He sold some of the ladies and kids garments for Rs.3,00,000 for cash and some
garments for Rs.150,000 on credit to Rajesh.
What is the amount of capital with which Gopal started the business?
(a) Rs.8,00,000 (b) Rs.9,00,000
(c) Rs.10,00,000 (d) Rs.3,00,000
OR

What will be the total sales?

(a) Rs.2,00,000 (b) Rs.4,00,000
(c) Rs.1,50,000 (d) Rs.50,000
Q3. According to the Convention of Consistency:
a),Accounting policies and practices once adopted should be consistently followed.
b) Accounting polices and practices adopted may be changed as per the management's
decision.
) Accounting policies and practices once adopted cannot be changed under any
circumnstances.

d) None of the above.

 OR
Aconcept that a business
as: enterprise will not be sold or liquidated in the near future is
kn
(a) Going concern
(c) Monetary unit (b) Economic entity
Q4. (d) None of these
Accrual basis of Accounting
a) recognises:
b)
Outstandingandprepaidexpenses
Accrued incomes and Income received in advance
c),Both (a) and (b)
d) None of these.
Q5.
Purchase of machine by cash
a) means:
Decrease in asset and decrease in liability (1]
),Increase in asset
and decrease in asset
yc), Increase in asset
and decrease in
d)
Decrease in asset and increase in liability
Q6.
Sundry creditors account is a capital
(a) Revenue account
(b) Capital account [1]
(c) Liability account
(d) None of these
OR
Goodwill account is a
(a) Personal account
(c) Nominal account (b) Real account
Q7. When goods are sold on credit, the (d) None of these
seller prepares:
(a)Cash memo
[1]
(c) Accounting voucher (b) Invoice
Q8. (d) None of these
Bad debts written off earlier and
now received are credited to:
(a) Bad debts a/c [1]
(c) Miscellaneous income a/c (b),Bad debts recovered a/c
(d) Debtors a/c
OR
A sole trader took goods
price of goods is Rs.1,500.
costing Rs.1,000 from stock from his own use.
The normal selling
Which of the following Journal entries
would correctly record this?
a) Dr. Drawings a/c and Cr.
Purchases a/c by Rs.1,000.
b) Dr. Drawings a/cand Cr. Sales a/cby
Rs.1,500.
c) Dr. Drawings a/c and Cr. Purchases a/c by
d)
Rs.1,500.
Dr. Sales a/c and Cr. Drawings by
Rs.1,000.
 Rs.10.000. Discount allowed will be
hit paid Rs.9,000 in settlement of his account of [1]
wOrded in:
(a) Cash book (b) Journal book
journal (d) Petty cash book
(c) Both cash book and
cheque of Rs.10,000 from Y in settlement of dues of Rs.10,500. The cheque was
10. X rveived a will be recorded in: [1]
dishonoured. The reversal of discount allowed by X
(a) Cash book (b)Journal proper
(aj None of these
(b) Ledger directly will
(UP) has sold goods of Rs.20,000 to Parvesh of Lucknow (UP). Akhil
Q11. Akhil of Kanpur [1]
charge.
(b) IGST
(a)CGST&SGST
(d) IGST & CGST
(c) IGST & SGST
cash book is Rs.50.000, cheques of Rs.7600 were deposited which are not yet
Q12. Balance as per Rs.7,000 issued have not been preserted for payment.
Credited by bank and cheques of [1]
Balance as per pass book is...
(b) Rs.50,000
(a) Rs.49,400 2000

() Rs.59,500
(d) Rs.60,000
balances of:
Q13. Trial balance is a list of the
a) /Allaccounts having balance.
balance.
b) Only personal and real accounts having
balance.
c) Only real and nominal accounts having
d) Allaccounts.
OR

in:
The preparation of trial balance helps
a) Assessing the financial position.
b) Locating errors of all types.
accounts.
c) Preparations of final
d) None of these.
the year by transter to the: [1]
Q14. Depreciation account is closed at the end of
(a)Fixed asset account (b) General reserve account
(c) Profit &loss account (d) Capital account
OR

The loss on sale of an asset is debited to:

a) Reserves (b) Depreciation fund
(d) None of these.
()Profit &loss account
O15. Profit on sale of fixed asset is used to create: [1]
(a) Specific reserve (b) General reserve
(c)Capital reserve (d) None of these
Q16. Match List Iwith II and select the correct answer:
LIST I LIST II

A. Compensating errors 1. Not recording a business

transaction.
B. Errors of Omission
2. Charging a revenue item to
capital.
C. Errors of principle 3. Writing a debit item on the
credit side and a credit item
on the debit side of equal
amount.
D. Error of Commission
4. Posting a correct amount to a
Wrong account.
Select the correct answer using the codes given
below:
A B D B D
a) 3 1 4 2 2 1 4 3
93 1 2 4 2 1 3
What do you mean by accounting? What are its
main objectives? [3]
Q18. What will be the effect of the
following on the accounting equation: (3]
-Started business with cash Rs.50,000.
Salaries paid Rs.2,000.
Wages outstanding Rs.200.
Interest due but not paid Rs.100.
( Rent paid in advarnce Rs.150.
Q19) 'Capital is aliability for the business.
Explain this statement with the principle applied. [3]
OR
Under which principle, resignation by a
account? Marketing manager is not recorded in the books of
Explain the principle.
Q20. Prepare a Trial balance from the following items:
3]
Capital- Rs.3,40,000 Building - Rs.1,20,000
Opening stock - Rs.85,000 Returns Inward -Rs.19,000 D
Furniture- Rs.1,26,000 Returns outward - Rs.3,500
Purchases - Rs.89,500
Trade expenses - Rs.10,000 D
Cash - Rs.73,000
Discount received - Rs.9,700 C
Carriage - Rs.3,000 Salary - Rs.30,000 O
93200 Sales - Rs.2,25,000 Office rent - Rs,22,700
 [4]
Arnalise the following transactions:
paise in a rupee was received from his
Shyam became insolvent, compensation of 75
Rs.10,000.
official receiver. He owed us debt
from Ramesh whose account was written off last year as bad
Received cash
(ü) Rs.5,000.
Rs.8,000.
(ii) Rent due to landlord
Rs.10,000.
Salaries due to staff Rs.1,00,000. In this
(iv)
Rakesh for supply of goods of the list price of
(v) Placed an order with the list price as an advance by cheque.
Raman paid 10% of
at 20% above cost less 10%
connection,
Sanjay. Issued invoice
Supplied goods costing Rs.3,600 to
(vi) trade discount.
Radhey for outstanding bill for printing.
(vii) Paid Rs.1,000 in cash to OR
45-) 26
the following transactions:
Pass the journal entries for
with cash Rs.5,00,000.
Sureka started business
(1)
Goyalson's for Rs.3,00,000 paid half in cash.
from
() Bought goods Rs.1,00,000 received 60,000 immediately.
Sonika for
(ii) Sold goods to
of the goods returned by Sonika being defective.
(iv) 10% Rs.149,000 in full settlement.
to Goyalson's
(v) Paid is not receivable.
Amount due from Sonika
(vi) for own use.
Rs.15,000, 2/3rd ofthe premises is occupied
(vii) Paid rent costing Rs.30,000. It further purchased
July, 2020 machinery costing Rs.10,000. On
Bharat stores purchased on 1st costing Rs.20,000 and on 1st Oct. 2021 became obsolete and
was
Q22 machinery on 1st January, 2021 on 1st July, 2020
accounting year. Prepare the
installed
April, 2022, 1/3rd of the machinery financial year as method.
1st company follows written down value
for Rs.3,000. The @10% p.a. on
sold depreciation is charged [6]
Machinery account. If the
OR
machinery for Rs.1,80,000. Further
hand
purchased on 1st April, 2020, a second technical reliability. Useful life of the
Raja traders was incurred to improve its year was Rs.10,000. On 1st
July,
of Rs.20,000 during the
expense 10 yrs. Maintenance 1st April, 2022, the
machinery is estimated to be costing Rs.1,00,000 was purchased. On
additional machinery become obsolete was sold for Rs.1,10,000 and
2021, having
on 1st April, 2020
machinery purchasedmachinery purchased at a cost of
Rs.1,50,000.
was Machinery
on 1st Oct.2022, new Straight Line method. prepare the
p.a. following 2023.
Depreciation is charged @10%
ending on 31stMarch,
account for three years
 Q23. Prepare twwo column cash book of Vinod from the
following transactions:
2022
Oct 1 Cash in hand ..25,000.
Cash at bank.
..75,000.
Bought goods against cheque.......15,.000.
oct8 Bought goods. ..5,000.
Oct 10
A post dated cheque issued earlier
Oct 14
Paid miscellaneous expenses.
honoured... ...
...5,000.
Oct 18 150.
Ramesh who owed Rs.5,000 became
Oct 20 in rupee. bankrupt and paid us 50 paise
Received cash from
Oct 23 Manohar......7,500.
Allowed discount....250. 407s0
3 7 7oo
Yoct 24 Withdrew from bank... .4,000.
Paid to Ghanshyam & co.
..3,000.
Qct 25 Received discount...... ...100.
Oct 27 Withdrew from bank for personal
Oct 28 Sold goods. .11,000.
expenses...........3,000.
Oct 29 Received cheque for goods sold.. ..19,000.
Received part payment from Akhil of Rs.5,000 and deposited
Rs.3,000out of it into bank.

Q24/ Prepare Bank reconciliation statement from the

Pass book shows a debit balance of following Particulars as on 31st March, 2023
Rs.2,500:
(i) Cheque issued for Rs.5,000 but up to 31st March,
2023 only Rs.3,000 could be cleared.
(ii) Cheque deposited for Rs.5,500 but cheques of Rs.500 were
collected on 10th April, 2023.
(ii) Cheque for Rs.2,000 was dishonoured but was not
recorded in cash book.
(iv) Acheque of Rs.300 debited in cash book but omitted to be banked.
(v) Interest allowed by bank Rs.400but no entry was passed in +5506
the cash book. [6]
OR
Bank statement of a customer shows bank balance of
Rs.62,000 on 31st March, 2023. On
comparing it with the cash book the following discrepancies were noted:
(1) Cheques were paid into the bank in March, 2023 but were credited in April, 2023:
P- Rs.3,500; Q- Rs.2,500; R - Rs.2,000.
(ii) Cheques issued in March, 2023 were presented in April, 2023:
X- Rs.4,000; Q-Rs.4,500.
(ii) Cheque for Rs.1,000 received from a customer entered in the cash book but was not
banked.
 Rs.2,000 as interest.
book shows.a debit of Rs.1,000 for bank charges and credit of
Pass book.
investment Rs.2,500 collected by the bank appeared in the pass
lnterest on
on 31st March,
recOnciliation statement showing the balance as per cash book
l'reare Bank
the credit
2023.
of Rs.720 in the trial balance which has been transferred to to
There was a
dillerence
rectifying entries and prepare a suspense account
suspcnse account. Pass the [6]
side of the errors:
following account instead
retily the debit side of the commission
posted on the
An amount of Rs.375 now
() of Rs.275. Rs.360.
posted to the debit of the personal account as
(ii) Credit amount of Rs.260 Rs.300.
Surinder recorded in Purchases book
Goods sold to Repairs
(iii)
at acost of Rs.1,200 has been charged to the
godown
(iv) D's billfor erection of
account. - II
PART B:
FINANCIAL ACCOUNTING
[1]
following is correct?
Q26. Which of the operating expenses - Non operating Income.
Net profit - Non Income.
(a) Operating profit = Nonoperating expenses + Nonoperating
Net profit + Income.
(b)Operating profit = Nonoperating expenses - Nonoperating
Net profit + Nonoperating Income.
(c) Operating profit= operating expenses +
Net profit - Non
(d) Operating profit= OR
lo, Ooo
tax paid by asole trader is shown: 300
Income account.
On the debit side of the trading 485
(a) account.
debit side of the profit & loss
(b) On the balance sheet.
the
from capital in
(),As deduction the balance sheet. the
to capital in Rs.1,250; Bad debts during
(d) As addition April, 2022): Rs.10,000.
Provision for doubtful debts (As on 1st is required @5% on debtors of
debts
Q27. Balance of Rs.300. provision for doubtful & loss account will be:
year were: profit
debts credited to (d) Rs.450
Provision for doubtful (c) Rs.600
(a) Rs.400 OR

preparation offinal accounts is:

sequence for
The correct balance.
Preparation of Trial
1.
accounts.
2. Balancing of financial statements.
Preparation of Annual
3.
adjusting entries.
4. Pas_ing fromthe code
given below:
(d) 4,2,3,1
answer
Select the correct (c) 2,1,4,3
(b) 2,4,3,1
(a) 4,2,1,3
 Q28. Gurman who keeps his books on
April, 2022 his capital was single entry system sells goods at cost plus
Rs.4,00,000 and on 31st March, 2023 it was 50%On 1
withdrawn Rs.20,000 per Rs.3,50,000. He had
much did he earn in 2022-23?month besides goods of the sale value of Rs.60,000, How
-50000+0. (a),Rs.2,30,000 (b) Rs.2,20,000 (1]
(c) Rs.1,20,000 O- 24 ,000
(d) Rs.2,00,000
Q29. On 1 Feb. 2023 a loan of 2 0 00uo ,o o0 t . 2
3 months from Feb. Rs.l,00,000 was
2023 to April, 2023. Ingiven
to Parth @12% p,a.
an amount of
advance interest will be: the financial statements forinterest was received for
the year 31st Mar. 2023,
(a) Rs.1,200 |2 oo0
(b) Rs.1,000 [1]
kE) Rs.3,600
(d) Rs.4,800
Q30. Calculate Closing stock
from the following details:
Opening stock. ..Rs.20,000 3]
Credit sales. Cash sales.... ...Rs.60,000
Rate of Gross profit on.Rs.40,000 Purchases.. ..Rs.70,000
cost 33 1/3%.
OR
Calculate Gross profit and Cost of goods
Net sales. sold from the following
.Rs.1,00,000 information:
Gross profit. .33 1/3% on cost.
Q31) Following extract is taken
from the following Trial balance of Kabir as on 31st March, 2023:
Particulars Dr Cr
Purchases
Sales 4,50,000
3,75,000
Afire
broke out on 31st
fully insured and the March, 2023 and stock of value of Rs.28,000 was
insurance company paid only Rs.20,000 forthe destroyed. It was
treatment in final accounts.
Q32. From the balance sheet claim. Show the
given below, calculate: [3]
(i) Fixed assets
[4]
(ii) Current assets
(iii) Current liabilities
(iv) Working capital
BALANCE SHEET
Liabilities Rs Assets
Trade creditors Rs
42,000 Stock in hand
Expenses accrued 48,000
3,200
Bank overdraft Debtors 36,000
4,800
Prepaid expenses 400