BLUE BELLS MODEL SCHOOL

SESSION: (2021-22)
UT- III EXAMINATION
CLASS-XI
SUBJECT: - ACCOUNTANCY (055)
Time: 1:30 Hours Max Marks: 40
General Instructions:
i. All questions are compulsory in this Question paper.
ii. Marks are intended in front of the question.
iii. Answers should be in neat and clean handwriting.
iv. Working notes should form part of the answer.
v. Wherever necessary, suitable assumptions may be made by the candidates .
vi. 25% Marks can be deducted in case of not preparing any format of Journal and Ledger or
even for not writing the narrations.

1) Mr. Nath who owed us ₹ 50,000 became insolvent and paid only 40% of this amount. What
is term used for the amount not received and in which side of Profit and loss Account this
amount is shown? [1]
2) A Three months Bill of Exchange drawn on 1 July 2018 will mature for payment on:
(a) 1 October 2018
(b) 3 October 2018
(c) 4 October 2018
(d) 5 October 2018 [1]
3) Find out the missing Information in the formula:
Cost of Goods sold = ______?____ + ____?______ + Direct Expenses – Closing stock. [1]

4) _________ is prepared for showing the financial position of the business summarising its
assets and liabilities at a given date.
(a) Statement of profit and loss
(b) Balance sheet
(c) Statement of shareholders’ equity
(d) Cash flow statement. [1]
5) Which of the following is not a part to a bill of exchange?
(a) Payee
(b) Signatory
(c) Drawee
(d) Drawer [1]

6) A bill of ₹ 12,000 was discounted by X with the banker for ₹ 11,880. At maturity, the bill
returned dishonoured, nothing charges ₹ 20. How much amount will the bank deduct from
X’s bank balance at the time of such dishonour?
(a) ₹ 12,000
(b) ₹ 11,880
(c) ₹ 120
(d) ₹ 12,020 [1]
7) State with reasons whether the following is revenue or capital expenditure:
₹ 2,000 spent on repairing a second-hand machine before put to use. [1]

8) Match the correct due date of the following instruments (Bills of exchange):
Due Date
(1) Dated 13-07-2017 payable after 30 days (a) 15th August 2017
(2) Dated 30th June, 2017 payable after 3 months (b) 14th August 2017
(c) 3rd October 2017
(a) (1) — (a), (2) — (a)
(b) (1) — (b), (2) — (c)
(c) (1) — (c), (2) — (c)
(d) (1) — (a), (2) — (b) [1]
9) Sale of goods to Mr. Amir is wrongly debited to Rohan A/c (debtor) instead of
Amir A/c (debtor), this is an example?
(a) Error of principle
(b) Error of omission
(c) Error of commission
(d) Compensating Error [1]
10) Which of following errors will be rectified through suspense account:
(a) Sales return book undercast by ₹ 1,000.
(b) Sales return by Madhu ₹ 1,000 not recorded.
(c) Sales return by Madhu Rs 1,000 recorded as ₹ 100.
(d) Sales return by Madhu ₹ 1,000 recorded through purchases returns book. [1]
11) Identify and explain the type of Error in the following cases:
a) Furniture purchased from M/s Rao Furnishings for ₹ 8,000 was entered into the
purchases book. Identify the type of error ........................................
b) Credit sales to Mohan ₹ 10,000 were posted to his account as ₹ 12,000 This is an error
of ..................................
c) Depreciation written off on furniture ₹ 1,500 was not posted to depreciation account.
This is an error of ................ [3]
12) Following information was taken from an income statement:
Opening Stock: ₹ 5,000; Sales: ₹ 16,000; Carriage Inward: ₹ 1,000;
Sales Return: ₹ 1, 000; Gross Profit: ₹ 6, 000; Purchases: ₹ 10,000; and
Purchase Return: ₹ 900.
Calculate the Cost of Goods sold?
OR
From the Following information, prepare the Trading Account for the year ended 31 st
March, 2013: and find the Gross Profit?
Purchase: ₹ 6, 60,000; Sales: ₹ 7, 44,000; Closing Stock: ₹ 50, 400; Freight and carriage
Inward: ₹ 3,600; Wages: ₹ 6,000; Freight and Carriage Outward: ₹ 2,000. [3]

13) X sold goods to Y on 1st April, 2011 for Rs. 20,000 on credit and drew upon him a bill for
the same amount payable after 3 months. Y accepted the bill and returned it to X. On the
date of maturity bill was presented to Y for the payment and he dishonoured it and noting
charges paid Rs. 200 in all the cases.
Pass the Journal Entries in the books of X only when:
Case I – Bill is retained by the X till the date of maturity.
Case II – Bill is discounted by X from his bank on 4th April @ 6% per annum.
Case III – Bill is endorsed in favour of Z on 4th May, 2011.
Case IV – Bill is sent to Bank for collection on 1st July, 2011. [4]
14) Pass the Rectifying Journal entries for the following errors:
(i) Purchases of ₹ 10,000 was omitted to be recorded.
(ii) Purchases of office furniture of ₹ 10,000 was recorded in Purchases Book.
(iii) Office Rent of ₹ 15,000 was debited to the Personal Account of the landlord.
(iv) Old machine sold for ₹ 5,000 was credited to Sales Account.
(v) Bill for ₹ 800 received from Mukesh for repair of machinery was entered in the
Purchases Book as ₹ 700.
(vi) ₹ 500 received from K. Krishna was debited to his account.
OR
Rectify the following errors:
(i) Total of one page of the Sales Book was carried forward to the next page as ₹ 2,785
instead of ₹ 2,587.
(ii) A cheque of ₹ 400 received from Mohan was dishonoured and had been posted to the
debit side of the ‘Allowance Account’.
(iii) Return of goods worth ₹ 5,000 by a customer was entered in the Purchases Return
Book.
(iv) Sum of ₹ 200 owed by ‘X’ has been included in the list of Sundry Creditors.
(v) Sale of old furniture worth ₹ 430 was credited to the Sales Account as ₹ 340.
(vi) ₹ 5000 received from Krishna was debited to his account by ₹ 500. [6]

15) On 15th June, 2019, X sold to Y goods to the value of ₹ 15,000 drawing upon the latter two
bills, one for ₹ 10,000 payable 2 months after date and other for ₹ 5,000 payable 3 months
after date.

X discounted the first bill with his bank at 6% p.a. and endorsed the second bill in favour
of his creditor, Z. The first bill was met on maturity but the second was
dishonoured. Z paid ₹ 50 as noting charges. On 1st October, Y cleared his account to X by
paying total dues upon him after dishonoring the second bill.
Record the necessary Journal entries in the books of both X and Y. [6]
16) The following Trial Balance was drawn up form Mrs. Bhumika's books at the end of
the year ending 31-03-2019. [8]
Prepare Trading and Profit & Loss Account and Balance Sheet as on 31-03-2019:
Particular Amount Particular Amount
Stock (01-04-2018) 16,000 Capital 1,00,000

Debtors 32,000 Sales 98,800

Machinery 30,000 Trade Payables 9,000

Wages 10,000 Interest Received 1,000

Salary 4,000

Building 60,000

Trade Expenses 5,000

Cash 16,000

Purchase 35,000

Drawing 800

2,08,800 2,08,800

Adjustments:

The following adjustments are to be considered:

a) Stock on 31-03-2019 ₹21,000

OR
From the following Trial Balance Prepare Trading Account, Profit & Loss Account and the
Balance Sheet.

Particular ` Particular `

Purchase 80,000 Capital 2,10,000

Bank balance 11,000 Bills payables 6,500

Wages 34,000 Sales 2,00,000

Debtors 70,300 Creditors 50,000

Cash in hand 1,200 Return outwards 4,000
Legal expenses 4,000
Building 60,000
Machinery 1,20,000
Bills Receivable 7,000
Office expenses 3,000
Opening stock 45,000
Gas and fuel 2,700
Freight and carriage 3,500
Factory lighting 5,000
Office furniture 5,000

Patents 18,800
4,70,500 4,70,500

Adjustments: -

(a) Closing stock ₹ 50,000.