Lawrance Public Sr.

Sec School
Final Examination 2023
Subject Accountancy
Class: XI
Time: 3 Hrs Set: A MM 80

General Instructions:
() This question paper contains 34 questions. All questions are compulsory.

Part A and B.
(1) This question paper is divided into two parts,
(iQuestion I to 16 and 27 to 30 carries I mark each.
(VJ Questions 17 to 20, 31 and 32 carries 3 marks cach.
() Questions irom 21, 22 and 33 carries 4 marks each.
(vi)Questions trom 23 to 26 and 34 carries 6 marks eacth.

Part: A
. 1 Mukesh, a businessman, had paid the house rent where he lives from tihe business
(1)
it'sa business transaction? Give reason
Q.2 If the rent of one month is still to be paid the adjustment entry will De

(a) Debit outstanding rent a/c and Credit Rent a/c

(DJ Debit Protnt & ioss a/c and Credit rent a/c
() Debit Rent a/c and Credit Profit &Los e (1)
rent

(d) Rent
Debit Credit Outstanding
a/c and a/e
Balance?
the Trial
following error
is revealed by
3Which of the ne
oook
or Original entry
amount entered nto
(a) Wrong
wrong
a)
nt posted in the Ieaget e ount
dn irom the books of original entry
Complete omission O enay transaction in the books
(c) accounting principle iIS VIOlated while recording a

d) When
(1)
ofAccount

is not the intangible asset?

of the tollowing assets which
one
Q.4 Out
(a) Patents

(b) Investment

( Goodwill
(d) Trademark (1)
Q.5 It imprest amoLnt 5000. What will be tlic amounl ot reimbursement il following
expenses were incurred by t h e petly cashier duing the onth: - Wages = 1450,
Tiffin = 1050. Smail Repairs = R500. General expenses 400.
J a t1600 (C) 3400

(b) 3050 (d) 3000 (1)

us
O00

.
 .wrance Public Sr. Sec School
Final Examination 2023
Subject Accountancy
Class: XI
Time: 3 lHrs
Set:- A
MM 80

General lnstructions:
(0) This question paper contains 34
questions. All questions are
() This question is divided
paper into two parts, Part A compulsory.
and B.
(ii)Question I to 16 and 27 to 30
carries I mark each.
(Iv)Questions 17 to 20, 31 and 32
carries 3 marks each.
()Questions from 21, 22 and 33
carries 4 marks each.
(vi)Questions from 23 to 26 and 34
carries 6 marks each.

Part: A
Q.1 Mukesh, a
businessman, had
it'sa business paid the house rent
where he lives from the
transaction: Give reason
business. Is
Q.2 If the rent of
one month is still to be paid the
a Debit
outstanding rent
a/c and Credit Rent a/c
adjustment entry ill be:
(6} Debit Profit & Loss a/c and Credit
() Debit Rent a/c and Credit Profit &rent a/c
(a) Debit Rent a/c and Credit Loss a/c
Outstanding rent a/
.3 Which of the following error is revealed by the Trial Balance?
(a) Wrong amount entered into the book of Original entry
(b) Wrong amount posted in the ledger account
(c) Complete omission Ol an entry Irom the books of
(d) When accounting principle is original entry
violated while
ot Account recording a
transaction in the
booksS
1)
Q.4 Out of the following assets which one is not the
(a) Patents intagible asset?
(b) Investment
(c) Goodwill
(d) Trademark

Q.5 If Imprest amount

(1)
s000. What will be lhic amount ot
expenses were inC urted by tne
Tiffin =7 1050, Small Repairs pety Cashier rluring he reimbursement
month: WagCs
if
-
following
a R1600
500. General expenses 400.
C) 3400
(b) t3050 (a) 3000
(1)

JUS
5 0 0

3000
0 w
records.it
h e n a person brings in some money
ines
capital
s to the
into
owner.
his business, in a

counuing,
ncept r elate
rasit is treated as liability of the businesS
ne..
to

(a) Objectivity (b) Money measurement

() Business
entity (d) Duel aspect (1)
Q.7 "Valuation of stock to be made either at its book value or its market value whichever is
ess
itis stated by which accounting
conce
(a) Cost
(o) Objectivity DMoney measuremen
Prudence
(1)
a
as5,400 1in the
RoobT Kaghav for ? 4,500 but goods recorded
Purchases
(c) Err orOmission b) Error of Commssion
rror of
Partial OmiSsion (d) Error of Principle (1)
s @ 1 n owner of a shopping mall received rent on 1st April, 2020rom
Poc onth tor 18 months for the year ended 31s Marcih, zu S
uerecognition concept of accounting, Rent an incoe o oe
a) 1,80,000
(b) 2,70,000
C) 36,00,000
(d) 54,00,000
.10 The
accounting concept, which
suggests that 'each
accounts by supporting vouchers of transaction should
in the books of be recoraeu

(a) Objectivity transactions i s -

(b) Dual aspect
() Materiality (d) Consistency (1)
Q.11 Choose the correct answer from
Seema Furniture House
returned
the following:
tables and chairs worhR 1,10,000 to Mahesn
FurnitureMart. Where would you record this
transaction?
(a) Journal proper
b) Inward book R
Cc) Keturn
Return outward book P R

Cash book
a
(1)
Q.12 Double Entry means:
a) Entry for the two aspects of books
at two dates
Entry
C Entry in two aspects of transaction
(d) All of the above
(1)
Q.13 If the
capital of a business is Rs 5,00,000 and outside liabilities are Rs 2,00,000.
Calculatethe total assets ol the business
(a) Rs 7,00,000
(D) Rs 3,00,000
 (ORs 9,00,000
(d) None of these

Q.14 The liability arising from the (1)

purchase of
goods on credit is called
ditors
ccounts Receivable
Loan
d) Payable expenses
(1)
Q.15 Distinction between an expenditure whose benefit will be
whose benefit tor a for a long period
of short period say up to one year, is made and
following under which of the
(a) Accounting Entity
(b) Going ncern Entityy
c M
() Money Measuring Entity
ACcounting Period
(1)
Q.16 Which of the following statements is not
(a) Provision is a charge against profit
appropriate in relation to "Provision"?
(6) Provision is created for known
(C) liability
(d)
Provision is created for strengthening the financial
Creation of provision satisfies the principle of position of the business
conservatism (1)
Q.17 Differentiate between Provision and Reserve on the basis of following:
(a) Basic Nature
(b) Purpose
(C) Use for payment of dividend
(3)
Q.18 Write any three interested users of Financial Statements ot an organization along
with thereason of their interest n
t
Q.19 Show the effect of the following transactions on assets, liabilities and capital
throughAccount
Amit
on:
e with cash
with
started business 40000
40000 and bank balance R10,000.
i00
J e g O o d s1or cashs000 and on credit t5000
Cash at a profit of 10% on cost.
costng 00or
(4) Rent due ,but not paid ou.
3)
Q.20 Prepare a Purchase Day book of Shiv Stationery Jrom the tolowing information.
Date
eh culars
2018 Purchased from Gagan Stationery Mart on credit
June 1 0 dozen pencils @ 25 dozen
10 dozen registers @R15 per register
June107P Purchased from Amrit Furniture 2 tables @ 1,500 per table.
purchased 3 dozen ink pots @ t 80 per dozen trom Mehar paper Company
and received cashdiscount 50 of t
June 218 Purchased from Rehman Bros. on credit

80008

goee g e
Ox12 x IS

8oo ISoXi2
 130 fwhite paper t50 perDiscount
team of 1096 0)
p e r doren Trade
Q21 Pass leurnal Ent 2ahid of Rajasthan assuming CGsT
and scST n the books of Shri
the following transactions
(a) Purcha
o) sold odsfor t3.00.000 from Jitender of Gujrat.
cost le i n g t80.000 to Mr. Babudin or Kajasthan at a profit of 25% on
cost less trade discount
10
(4) o r advertisement ts0.006
Proprietor withdrew for personal use u10,000. (4)
g.22 Prepare athal alance from the
Account following ite
Capital ccount
12-O1
24,000 Building 12,000
Opening stock 8,500 Returns inward
Furniture 2.600 Returns outward
1,900
Purchases 350
Cash 8,950 Trade expenses

Carriage 7.300 Discount received

300 salary
1,000
970 6
Sales 3,000
22,500 Office rent
2,270
23 From the followin8 (4)
particulars of
on March 31, 2021,ulars
of Mr.
Mr. Vinod,
Vinod. prepare bank
reconciliation statement
.
Bank balance as
per cash book 50,000.
3 Cheques issued but not presented for payment ?
The banik had directly collected 6,000.
dividend
account butwas not entered the cash of t 8,000 and
credited
in
b0ok.
to bank
Bank charBes of t400 were not
Acheque for R6,000 was entered in the cash book.
Direct payment made by deposited but not collected by the bank.
bank toward Lic. Premium on
Q24 Record the our
behalf
and bala following transactions in double
R
12,000.
column cash book of Mr.
Sept.01: Balance of cash t 22,000 and Bank Rakesh (6)
Verma
Sept. 06: Received cheque for t 4000 from Gaurav
overdraft 2,500.
Sept. 10:B ank has collected
Sept. 16: Bank has paid Interest of t 6,000, sent into the bank
severalof payments on its Dividend
Insurance premium due date:
of R 8,000.
t
5,.000. 5.000and School fees of
Sept. 24: Cash deposited into the Rakesh Verma's son
Sept. 29:Sold goods (costing bankt 12,000.
25.000) at 20%% profit for cash.
6.25 Trial balance of (6)
M/s Rathi
Brothers
Cerencee to suspense account He did nottheagree and the
(a Sales return book overcast bydiscovered
t 800. followinw erO accountant
talnt put the
the
6) Purchases return to Sahu 2,000 was not
posted.

(7
 Teams of white paper @t 50 per rea
cUpens @ t60 per dozen. Trade Discount ot 100 (3)
4Pass Journal Entries in the books of Shri Zahid of Rajasthan assuming CGST (@
and SGST @9% for the following
a) transa
hased goods for R3,00,000 from Jitender of aujrat
ldgoods costing R80,000 to Mr. Babudin of Rajasthan at a profit of 25% on
cost less trade discount
( 100
Paid for advertisement ks0,066.
Proprietor withdrew for personal use t10,000. (4)
Q.22 Prepare aTrial Balance from the 12-0X
following
items
Accoun Account
apttal 24,000 Building 12,000
600
pening stock 8,500 Returns inward
urniture 1,900
2,600 Returns outward 350
urchases
Cash 8,950 Trade expenses 1,000 607

Carriage V300 Discount recelved 970

Sales 300 salary
22,500 0ffice rent 3,000
Q23 From the (4) 2,270
following
as on March particulars
31, 2021 sO of Mr.
ME. Vinod, prepare
1 prepare bank reconciliation
reconciliation statement
statement
Bank bal ance as
per cash book
Lneques 50,000.
3. The b issued
but not
presented for paymentt
an ad
directly collected dividend 6,000.
of t 8,000 and
account butwas not entered in the
cash
credited to bank
5ank charges of t 400 were not enteredbooK
cheque for t6,000 wac entered in
in the
the cash
A was
casn book.
booK the
Direct
pay mentmade deposited but not collected
by bank toward LIC Premium onby bank.
944 Kecord our behalt t 12,000.
and b the efollowing
it. transactions in double column cash book
ance of Mr. Rakesh Verma
Sept. 01: Balance of cash 22,000 and Bank overdraft
Sept. 06: Received cheque for 2,500.
Sept. 10: Bank has collected 4,000offrom Gaurav sent into the bank.
Interest t 6,000;
Sept. 16: Bank has paid several Dividend of R 8,000.
Insurance premium of payments
t 3,000and
on its due date:

5,000. School fees of Rakesh

Verma's son
Sept. 24:Cash deposited into the bankt
Sept. 29: Sold goods
(costing 25,000) at12,000.
20% profit for cash.

R.25 Trial balance of M/s Rathi (6)

difference to suspense account.Brothers did not
agree and the accountant
a Sales return book overcastHe discovered the
lollowing errors put the
6) Purchases return Sahu R by t 800.
to 2,000 was not
posted.

7
 (C)Gools purchased on credit lromm Nasula 4,000 though taken intu sloC.,
ul ho enttywals palsscd in the bo00ks.
(a)nstallation charges on new machrnery purchased s00 were
to sundryexpenses 50
(e)
febited accountas
Rent paud tor residential accommodation of Mohan (the proprietor) t 1.400
rent ast 1.000.
s eted to iccount
Rectily the errors and prepre suspense accournt to ascertain the

Q.26 Bhushan &Company purchased Machinery on 1st April, 2019, for R« 54.000 and
3pent Rs 6,000 on is installation n Ist December, 2020, it purch4sed another
machine for Rs 30,000. On 30th June 2021, the irst machine purchased on 1st April,
2019, I5 sold for Rs 36,000 and on the sane date 1 purclnased iew machinery lor Rs
B0,000.
Depreciation was provided on machinery 100 p.a pn OriginaEost Method
annuallyn31st March. Give the
machinery acCCOHHttor s years.

Part:- B
Q.27 Net Sales t6,00,000. Gross Profit is 25% on cost. Calculate
cost of Goods soid 1)
Q.28 Income Tax paid by sole trader is retlected in his
a
(a) On the debit side ot the financial statements:
(6)
Trading a/c
On the debit side of Profit
and Loss a/c
()AS an asset in the Balance Sheet
(a) As way of deduction from 1)
Capital in the Balance
snce
4 Liosing Stock appears in the Trial Balance then it will be appeariDg I

Trading 2/c
(b) Balance Sheet
(C)Proft
(d) anda/co and Balance Sheet
Trading

Q.30 The Mamer enatieu t a c o n i s o n of 5% un profit after chaging such

conmissio
The prolnt Delore charging such comiiss1On is T0500. Hence the Manager's
commisstonwill be
(1)
Q.31 Dilerentiate between capital expenditure and revenue
expenditure. (3)
Q.32 Compute the cost of goods sold from the following information:
BaesB,DO.POOAWages 1,50,000, Stock on 31 March 2021:-3,00,000
Ag\yátdf ZiA8; Purchases.- 14,00,000, Freight Inward: 40,000
Stock on 31" March 2022: 3,50,000,
(3)
Q.33 How the following information is presented in the
balance sheet of the business. profit and loss account and
 Debtors 80,000
ou
Bad debts 2,000
Provision for doubful
debts 5,000
Adjustments: 300o ot dabts
Pauov fos
Aia2
3na Provision on thebtors e 70 and (4) 5 7 .
S4 he tollowing is the Trial Balance of Zoya Steels Ltd. as on 31
Name of Accounts March 2024..Debit Credit
Cash in Hand b (RS) (RS) 4
1,000
Kash at Bank b 5,000
Purchases and Sales
Keurn Inwards and Outwards 1
81,000 ,97,000
1,300 1,000
wages
Eafel & Power - 20,900
9,000
arriage on sales
,400
GTage on purchases T 4,000
Stock on 31 March, 2021b
Building 11,500
b 60,000
Land 20,000
Machinery
30,000
Salaries
14,000
Patents 31,000
General Expenses 6,000
,<00
InsuranceY
apital b
,06,700
10,000
Drawings
Debtors &Creditors 29,000 31600
Total 3,36,300 3,36,300
You are required to prepare Trading Account, Profit& Loss Account and Balance Sheet as on

that date after considering the following adjustments-

y.4. Stock 31
on March, 2022 was 13.600.
nsurance includes a premium of R S00 for the next year and salaries R i.000 yet to be paid.

3.Goods worth 3.000 destroyed by ire, and these goods were uninsurcd.
4. 10% and Building @
Deprecate machincry 5%. (6)