Time : 3 hrs.

M.M. : 80
Class : XI
Name :……………………..
Subject : Accountancy
Adm. No.. : ………………… 2nd TERM EXAM NOV. – 2023
General Instruction :-
1. This question paper contains 34 questions. All questions are compulsory.
2. This question paper is divided into two parts, Part A and B.
3. Question 1 to 16 and 27 to 30 carries 1 mark each.
4. Questions 17 to 20, 31and 32 carries 3 marks each.
5. Questions from 21 ,22 and 33 carries 4 marks each
6. Questions from 23 to 26 and 34 carries 6 marks each
7. 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
Q.1 External users of accounting information are not 1
(A) Lenders (B) Officers
(C) Employees (D) Public
Q.2 Assertion (A) : Purchase of Asset on credit will not increase the Creditors of the 1
firm.
Reason (R) : List of creditors include only those to whom amount is payable for
credit purchase of goods.
Choose the correct option:
(A) Both Assertion and Reason are correct and Reason is the correct explanation of
the Assertion.
(B) Both Assertion and Reason are correct but reason is not the correct explanation
of the Assertion
(c) Assertion is correct but Reason is incorrect
(D) Assertion is incorrect but Reason is correct
Q.3 Patent is: 1
(A) Tangible Asset (B) Intangible Asset
(C) Current Asset (D) None of the Above
Q.4 According to which concept the same accounting methods should be used each year: 1
(A) Prudence (B) Materiality
(C) Full Disclosure (D) Consistency
Or
Outstanding Expenses A/c is:
(A) Artificial Personal Account (B) Representative Personal Account
(C) Natural Personal Account (D) All of the above
Q.5 Assertion (A) : Personal transactions of the owners of the business are not recorded 1
in the books.
Reason R : According to the business entity concept, each business enterprise is
considered as an accounting unit separate from owners.
Choose the correct option:
(A) Both Assertion and Reason are correct and Reason is the correct explanation of
the Assertion.
(B)Both Assertion and Reason are correct but reason is not the correct explanation
of the Assertion
(C) Assertion is correct but Reason is incorrect
(D)Assertion is incorrect but Reason is correct
Q.6 The …. Convention states that the method of providing depreciation adopted in one 1
year should be adopted each year:
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 (A) Full Disclosure (B) Prudence
(C) Consistency (D) Materiality
Or
Purchases amount is recorded
(A) After deducting Trade Discount
(B) After adding GST
(C) After adding carriage charges etc. paid by the seller
(D) All of the above
Q.7 As a result of the following transactions, the total of accounting equation will be …. 1
(i)Started business with Cash ₹5,00,000
(ii)Goods purchased for cash ₹2,00,000
(iii) Goods costing 1,50,000 sold for 1,60,000 on credit:
(A) 4,60,000 (B) 7,10,000
(C) 5,10,000 (D) ₹6,60,000
Q.8 Credit purchases of furniture will be recorded through which voucher? 1
(A) Debit Voucher (B) Credit Voucher
(C) Cash Voucher (D) Transfer Voucher
Or
Which of the following is true :
(i) Balance as per Pass Book 42,000
(ii) A customer directly deposited in our bank account ₹10,000.
(iii Cheques issued for 20,000 of which cheques for ₹4,000 were presented for
payment
(A) 68,000 (B) 16,000
(C) 48,000 (D) 36,000
Q.9 On selling the goods for cash of the list price of ₹40,000 at 15% trade discount and 1
4% cash discount, cash A/c will be debited by :
(A) 32,640 (B) 32,400
(C) 38,400 (D) 34,000
Q.10 Mohan (Debtor) from whom an amount was due, declared insolvent and paid only 60 1
paise in a rupee. Total bad debts from him were written off ₹7,200. What was the
amount actually due from Mohan?
(A) 24,000 (B) 12,000
(C)18,000 (D) 16,500
Q.11 Example of Natural Personal Account is : 1
(A) Bank Account (B) Drawings Account
(C) Outstanding Rent Account (D) Delhi University Account
Q.12 Example of Artificial Personal Account is: 1
(A) Capital Account (B) Bank Account
(C) Debtors Account (D) Prepaid Expenses Account
Q.13 On 1st April 2023, balance of cash column of cash book was 10,000. After receiving 1
2,000 from Anil, giving a cheque of ₹3,200 to Sunil and making payment of wages
500, balance of cash will be:
(A) 11,500 (B) 8,300
(C) 8,800 (D) 6,300
Or
Amortisation refers to writing off
(A) Depleting Assets (B) Wasting Assets
(C) Intangible Assets (D) Fictitious Assets
Q.14 Goods sold for cash are recorded in the : 1
(A) Sales Book (B) Sales Return Book
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 (C) Cash Book (D) Petty Cash Book
Q.15 A note sent by buyer on return of goods is 1
(A) Credit Note (B) Return Note
(C) Debit Note (D) None of these
Or
Calculate the gross profit if rate of gross profit is 25% on sales and cost of goods sold
are 1,80,000
(A) 60,000 (B) 36,000
(C) 45,000 (D) 30,000
Q.16 Goods sold for Cash 25,000 plus 12% IGST. Sales A/c will be credited by: 1
(A) 22,000 (B) 25,000
(C) 28,000 (D) None of these
Q.17 Prove that the Accounting Equation is satisfied in all the following transactions of 3
Rajaram. Also prepare a Balance Sheet:-
(i) Started business with Cash 1,20,000.
(ii) Purchased a typewriter for Cash for ₹8,000 for office use.
(iii) Purchased goods for 50,000 for cash.
(iv) Purchased goods for 40,000 on credit.
(v) Goods costing ₹60,000 sold for ₹80,000 on credit.
(vi) Paid for Rent 1,500 and for salaries ₹2,000.
Q.18 Pass Journal Entries for the following transactions: 3
1. Jan. 6 Sold goods to Muskan of the list price of 2,00,000 at trade discount of 20%.
2. Jan. 15 Return goods from Muskan the of the list price of₹5,000.
3. Jan. 18 Received from Muskan Full payment under a cash discount of 4%.
Or
Calculate closing stock from the following details:
₹
Opening Stock. 4,80,000
Purchase. 13,60,000
Sales. 19,50,000
G.P. is 30% on Cost.
Q.19 Enter the following transactions in a Single Column Cash Book:- 3
2023 Rs
May 1. Commenced business with Cash. 25.000
3 Bought goods for Cash 10,000
3. Paid Carriage. 200
4. Sold goods for Cash. 6,000
10. Received from Ram. 1,000
12. Paid to Shiv Kumar. 4000
15. Cash Sales. 26,000
18. Purchased furniture for cash for office. 8,400
20. Paid for Advertisement. 5,000
20. Purchased goods from Mahesh on credit. 500
24. Paid to Mahesh. 6,000
25. Paid Wages. 4,000
27. Received for Commission. 400
28. Withdrew for personal use. 400
31. Paid salary. 700
Or
The following ledger balances prepare trial balance: Capital 20,800, Rent
outstanding 1,420, Amount due to Param 15000, Goodwill 12,000, Interest received

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 2,000, Discount received 1,580, Amount due from Deepan 26,000. Drawing 2800
Q.20 Calculate Net Sales and G.P. from the following: Cost of Goods Sold. Rs4,50,000 3
G.P.25% on Sales
Q.21 21Record the following transactions in the Sales Book of Ganesh Electronics, 4
Kolkata (West Bengal) assuming CGST @ 9% and SGST @ 9% :
2023
Jan. 3. Sold to Ruchika Electronics, Kolkata, Vide Invoice No. 431
5 colour T.V. Sets @ 20,000 each
Less: Trade Discount 20%
10. Sold to Garima Electronics , Patna (Bihar), Vide Invoice No. 432
10 Washing Machines @ 8,000 each
Less: Trade Discount 25%.
12. Sold toRaghav& Sons, Kolkata, Vide Cash Memo No. 2510
6 Colour T.V. Sets @ 18,000 each
Less Trade Discount 15%.
16. Sold to NitinTrading Company, Ranchi (Jharkhand) Vide Invoice No. 433.
8 Music Systems @ 15,000
10 Colour T.V. Sets @22,000 each
Less: Trade Discount 20%
Q.22 A Company purchased a second-hand machine on 1st April, 2020, for Rs 30,000 4
and immediately spent Rs 4,000 on its repair and Rs 1,000 on its installation. On
Oct. 1, 2022, the machine was sold for Rs 25,000. Prepare Machine Account after
charging depreciation @ 10% p.a. by diminishing balance method, assuming that
the books are closed on 31st March every year. I GST was charged @12% on
purchase and sale of machine.
Q.23 From the following information supplied by Sanjay, prepare his Bank Reconciliation 6
statement as on December 31, 2022.
(i) Bank overdraft as per pass book. 16,500
(ii) Cheque issued but not presented for payment. 8,750
(iii) Cheque deposited with the Bank but not collected 10500
(iv) Cheques recorded in the cash book but not sent to the bank for collection Rs
2000
(v) Payments received from customers directly by the bank Rs 3,500
(vi) Bank charges debited in the pass book Rs 200
(vii) Premium on life policy of Sanjay paid by the bank on standing advice Rs1,980
Or
Journal from the transactions given below:
(i) Cash paid for installation of machine. Rs 1500
(ii) Goods given away as. Charity. Rs 500
(iii) Interest on drawing 2000
(iv) Goods destroyed by fire. 5000
(v) Interest on drawing. 1100
(vi) Sudhir Kumar who owed me ₹30,000 has failed to pay the amount.
Compensation of 45 p. in a rupee by Cheque.
Q.24 On 1-4-2017, a Company purchased plant and machinery for Rs 2,00,000. New 6
machinery for Rs 10,000 was purchased on 1-1-2018 and for Rs 20,000 on 1-10-2018.
On 1-7-2019, a machinery whose book value had been Rs 30,000 on 1-4-2017 was sold
for Rs 16,000 and the entire amount was credited to Plant and Machinery Account.
Depreciation had been charged at 10% per annum on straight-line method. Accounts
are closed on 31st March every year. Show the Plant and Machinery Account from 1-4-
2017 to 31-3-2020.

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 Or
Enter the following transactions in the Returns Inward Book of Anand Cloth House,
Ajmal Khan Road, Mathura (U.P.) assuming CGST @ 2.5% and SGST @2.5%:-
October 3 Chakravarti& Co. Jaipur (Rajasthan), returned to us being not according
toSample:-
50 Metre Cotton Cloth @ 200 per Metre
30 Metre Silk Cloth @ ₹500 per Metre
Trade Discount 20%
12. Narain Rai & Co., Indore (M.P.), returned being not up to the approved sample:-
25 Metrewoollen cloth @ ₹400 per Metre
20 Goods sold to Janaki Das Sita Ram, Agra (U.P.) now returned by them,
being defective valued at ₹8,000.
28 Allowance allowed to Kesari Lal & Sons, Sadar Bazar, Prayagraj (U.P.) on
account of a mistake in the invoice ₹3,000.
Q.25 There was a difference of ₹430 in a Trial Balance. It was placed on the Debit side of a 6
Suspense A/c. Later on the following errors were discovered. Pass rectifying entries
and prepare Suspense
(i) Purchases book was overcast by 100.
(ii) Sales book was overcast by 1000
(iii) Goods for 800 purchased from Umakant, though entered in the purchase book,
has not been posted to his account.
(iv) An amount of 500 has been posted to the credit side of commission account
instead of 570.
(v) Goods sold to Bharti for ₹4,400 has been posted to her account as ₹4,000.
(vi) Goods sold to X for 750 were recorded in purchase book.
Q.26 Overdraft balance shown by the bank column in the cash book of Mr. Vivek is Rs 6
45,000. Prepare Bank Reconciliation statement as on December 31, 2017:
(i) A bill receivable for Rs 5,000 previously discounted with the bank had been
dishonoured and debited in the pass book.
(ii) (Interest on investment collected by the bank and credited in the pass book Rs
1,500.
(iii) Cheques deposited into bank but not yet collected Rs 7,500.
(iv) Interest charged by the bank on over draft balance Rs 1,850
(v) Cheques issued but not yet presented for payment Rs 11,350.
(vi) Received a payment directly from a customer into bank account ₹12,500.
Part B
Q.27 A trial balance contains Debtors 15,000, Bad Debts ₹400 and Provision for Doubtful 1
Debts 600. Further bad debts given in adjustments are 2400. If a provision at 5% is
made on Debtors, P & L A/c will be debited with:
(A) 950 (B) 800
(C) 930 (D) ₹1,130
Or
Closing Stock appearing in the Trial Balance is shown:
(A) On the Dr. side of Trading A/c
(B) On the Cr. Side of Trading A/c
(C) On the Assets side of Balance Sheet
(D) On the Cr. Side of Trading A/c and on the Assets side of Balance Sheet
Q.28 Income earned but not received is shown in: 1
(A) Liabilities (B) Foot notes
(C) Assets (D) None of them
Q.29 Credit sales to Raghu ₹10,000 were recorded in purchases book. In rectifying entry 1
Raghu's A/c will be.........
(A) Debited by 10,000 (B) Credited by 10,000
(C) Debited by 20,000 (D) Credited by 20,000

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 Or
A’s Trial Balance provides you the following information:
Bad Debts. Rs3,000
Provision for Bad Debt Rs5,000
It Is desired to maintain a provision of 1,500 for doubtful debts, the amount to
Be recorded in P & L A/c will be:
(A) 4,500 in Dr. (B) 500 in Dr.
(C) 500 in Cr. (D) 3,500 in Dr.
Q.30 Credit sales to Shyam ₹5,000 were recorded in purchases book as ₹500. In rectifying 1
entry Shyam's A/c will be.................:
(A) Debited by ₹4,500 (B) Debited by ₹5,500
(C) Credited by ₹4,500 (D) Credited by ₹5,500
Q.31 Calculate gross profit and cost of goods sold from the following Information: 3
Net Sales. Rs 12,00,000
Gross Profit. 25% on Sales
Q.32 Rectify the following errors 3
(i) A credit sales of goods to Ram ₹2,500 has been wrongly passed through the
‘Purchases Book’.
(ii) A credit purchase of goods from Shyam amounting to 1,000 has been wrongly
passed through the ‘Sales Book’.
(iii) (A return of goods worth 1,100 to Mohan was passed through the ‘Sales Return
Book’.
Q.33 Pass entries in the books of Mukul Roy & Sons, assuming all transactions have been 4
entered within the state of West Bengal, charging CGST and SGST @ 6% each:
2023
April 1. Purchased goods for ₹1,50,000 from S. Banerjee. .
6 Sold goods for 2,50,000 to Aditya Sangma goods.
8 Returned goods to S. Banerjee for ₹10,000.
15 Aditya Sangam returned goods for ₹8,000.
18 Printing &Stationery expenses of ₹5,000 paid in cash.
24 Goods Withdrawn by Proprietor for personal use ₹20,000.
27 Goods Destroyed By fire Rs 15,000
30 Payment of balance amount of GST.
Or
State with reasons whether the following are Capital or Revenue expenditures:
installation.
(i) An old plant costing 1,00,000 was purchased; 2,000 were paid on its carriage;
₹3,000 were spent on its repairs and Rs 4,000 were paid to an engineer who
had supervised its
(ii) Rs 40,000 were spent on a machine out of which 5,000 were spent on repairs,
Rs 7,000 for replacement of worn-out parts and 28,000 for the improvement of
the machine. Due to the improvement, the production capacity of the machine
increased Substantially.
(iii) Legal expenses incurred on purchase of Land.
(iv) Rs 10,000 were spent on lawyer’s fees to defend a suit claiming that the firm’s
factory site belonged to the plaintiff.
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Q.34 Prepare a Trading and Profit & Loss account for the year ending March 31, 2018, 6
from the balances extracted of M/s Rahul Sons. Also prepare a balance sheet as at
that date.
Debit Balances ₹ Credit Balances ₹
Stock 50,000 Sales 1,80,000

Wages 3,000 Purchase return 2,000

Salary 8,000 Discount received 500
Purchases 1,75,000 Provision for bad debts 2,500

Sales Return 3,000 Capital 2,90,000

S. Debtors 82,000 Bills Payable 22,000

Discount allowed 1,000 Commission received 4,000
Insurance 3,200 Rent 6,000
Rent, rates and taxes 4,300 Loan 34,800
Fixtures and fittings 20,000 Output CGST 15,000
Trade Expenses 1,500 Output SGST 15,000
Bad debts 2,000
Drawings 32,000
Repair and renewals 1,600
Travelling expenses 4,200
Postage 500
Legal fees 500
Bills Receivable 50,000
Building
1,10,000

Input CGST 10,000

Input SGST 10,000
5,71,800 5,71,800

Adjustments :-
(i) Commission received in advance ₹ 1,000.
(ii) Rent receivable ₹ 2,000, subject to levy of CGST and SGST @ 9% each.
(iii) Salary outstanding ₹ 1,000 and insurance prepaid ₹ 800.
(iv) Further Bad-debts ₹ 1,000 and provision for Bad-debts @ 5% on debtors and
provision for discount on debtors @ 2%.
(v) Closing Stock ₹ 32,000.
(vi) Depreciation on Building @ 6% p.a.

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