ANGEL'SPUBLICSCHOOL

Stive N Ifetk
FINAL EXAM SESSION 2023 - 24
ACcoUNTANCY CoDE-055 M.M:80
SUBJECT:
TIME: 3 HRS CLASS-XI
GENERAL INSTRUCTION.
(a) This question paper contains 34 questions. All questions are compulsory.
and B.
(b) This question paper is divided into two parts, Part A
(c) Question 1 to 17 and27 to 29 carries 1mark each.
(d) Questions 18 to 20 and 30 to 32 carries 3 marks each.
(e) Questions from 21to 23 caries 4 marks each.
() Questions from 24 to 26, 33 and 34carries 6marks each.
1. Trading Account discloses
(a) gross profit (b) net profit (c) net loss (d) gross profit or gross loss
2. The person, firm or institution who does not pay the price in cash for the goods purchased or the
services received is called
(a) Creditor (b) Proprietor (c) Debtor (d) None of these.
3. Outstanding Expenses are related to
(a) Current year (b) Next year (c) Last year (d) None of these.
4. Prepaid expenses are shown in
(a) liability side (b)asset side (c) assets orLiability side (d) none of these
5. Which of the following is entered in cash - book?
(a) Only cash transactions (b) Only credit transactions
(c) Both cashand credit transactions (d) None of these.
6. financial
The process of recording, classifying and summarizing all business transactions in order to know the
result is called
(a) book -keeping (b) accounting (c) journalizing (d) none ofthese
7. Direct Expenses are entered in
(a) Trading Account (b) Profit and Loss Account (c) Balance Sheet (d) None of the
8. If above
the insurance premium paid Rs. 1,000 and prepaid insurance Rs.300. The amount of
premium shown in the profit and lossaccount will be
insurance
(a) Rs. 1,300 (b) Rs. 1,000 (c) Rs. 300
9. Prepaid expenses are shown in
(d) Rs. 700
(a) Liability side (b) Asset side (c) assets or Liability side (d) none of the above
10. Define deferred revenue expenditure?
11.Purchases refers to the buying of
(a) stationey for office use (b) assets for the factory (c) goods for resale (d) investment
12.Mr. Awho owed us Rs 50000 became insolvent and paid only 40% of this amount. What is the term
used for the amount not received ?
13. Income tax is treated as
(a) business expense (b) directexpense (C) personal expense (d) indirect expeng
 goods toMr. R account
cash transaction? (b)Soldgoods to Mr. Ton
following is a (d) Sold
14. Which of the statement
(a) Sold goods credit balance in Bank
Sold goods to Mr. S onmeans? (b) Credit
(c) Favorable balance
15. What cash book (d) Bothb andc profitis called-
in the
(a) Credit balance cash book business for earning (d) none of these
in the (c) fixedassets
(c) Debit balance
assets invested by the proprietor in
16. Cash, goods or (b) capital
in Bank statement
(a) profit balance
Unfavorable balance means? (b) Credit in petty cash book
17. What balance
(a) Credit balance in
the cash book (d) Debit
book
(c) Debit balance in cash
Prepare single column çash book from the following :
18. business with cash 10000
Jan 1started
cash 5000
Jan 2 goods sold to rohit for 2500
Jan 3 goods purchased from pankaj
Jan 5 rent paid 500
3500
Jan 10 commission received
19.Pass journal entries
1sold gols to rohit for rs 500
2rent paid to landlord rs 150
3comission received by cheque rs 300 information
20. Prepare trading account from the
following
purchases 1,50,000
Opening stock 50,000
Return outward 15,000 return inward 10,000
Wages 25,000 sale 2,40,000
Freight inward 12,000 office expenses 2,000
Closing stock 40,000 Coal gas and water 2,200
21. Prepare bank reconciliation statement December 2013 63,400.
(a) The bank overdraft as per Cash Book on 31st 1,600 is entered in the Pass
(b) Interest on overdraft for 6 months ending 31st December 2013, R
Book.
the Pass Book.
(c) Bank charges of 300 for the above period are debited in
amounted to 11,680.
(d) Cheques issued but not cashed prior to 31st December 2013 21,700.
(e) Cheques paid into bank but not cleared before 31st December 2013 were for
() Interest on investments collected by the bank is credited in the Pass Book 12,000.
22. Prepare accounting equation from the following
(a) Commenced businesswith cash 50,000.
(b) Paid into bank * 10,000.
(c) Purchased goods for cash 20,000 and credit 30,000.
(d) Sold qoods for cash 40,000 costing 30,000.
23. Pass necessary journal entries from the following
(a) goods sold to rohit for cash 600
(b) goods costing 5000 destroyed by fire but insurance company paid the claim 60%
(c) salaries paid to hari 650
 (d) 200 paid to rohit in fullsettlement of his account 250
(e) rohan a cUstomer whose account written off last year now paid 550
i) loan taken from bank 3000
ia) commission due but not received 5000
(h) interest on capital 4000
AExplain uses of accounting
OR 2009, prepare Trading
From the following Trial Balance of M/s.Vinod and |Sons December.
Sons as on 31st
and Profit &Loss Account and Balance Sheet.
Amount
Particulars Amount Particulars
20,000
Opening Stock 11,300 R Capital
Purchases 5,000
40,000 Loan

Sales Return Creditors 8,000

300

Gas and Water 480 Sales 55,000

Cash in hand 1,000 Purchase return 580

B
B Cash at bank 5,700 yp Commission 500

Salaries and wages 800 BBillPayable 1,500

P Rent, Rate &Taxes 700

oWages 1,250

Insurance 1,000

Carriage 750

0Discount 300

Debtors 10,000

Machinery 7,000

Building 10,000
 Adjustments:
(a) Stock in hand on 31-12-2009 Rs.12,300. Rs.100.
Salaries
(b) Outstanding wages Rs.200 and
(c) Accrued Commission Rs.300.
debts.
(d) Create 5% provision for bad and doubtful
(e) Charge 10% depreciation on Machinery.
25. Rectify the following errors recorded in purchase b0ok as 15000 to his personal
10000 wrongly
(a) goods sold to rohit for account written offlast year as bad
credited
(b) 4000 received from gopal whose
account
(C) rent paid to land lord 5000 debited to his personal account
wrongly debited to allowance account
amit 4500return dishonour
(0)a cheque received from
(e) 3500 paid to anuj wrongly credited to his account as 350 depreciation accOunt
() Depreciation on machinery 5000 ommited to ORbe posted in

Reconciliation Statement of Mr. Divii Jain on 31May 2017 from the following:
Prepare a Bank
(a) Dr. Balance as per Pass Book Rs.50,000.
entered in Cash Book.
(b) Cheque issued to Mr. Himesh Rohatgi for Rs.2,000 not directly
Dhanraj (debtor) deposited an amount of Rs.1,000 into the bank account of Mr. Divij
(C) Mr.
Jain.
cash book but not sent to bank.
(d) Cheque received from Mr. Dhruv Guleria for Rs.6.000 entered in Rs.200 for interest.
(e) There was a credit in the pass book for Rs.600 and another credit of
(f) Bank charges Rs.500 entered twice in the cash book.
(g)dr side of cash b0ok overcasted by Rs 500
(h) intrest on overdraft not recorded in cash book Rs 400
26. Explain branches of accounting and three golden rules of accounting
OR
been given
Atrader prepare its books under single entry system the following details has
On 31/3/2001
7000
Cash 5000, stock 10,000, furniture 40,000, building 30,000, land 50,000 creditor
On 31/3/2002
40,000, creditor 20,000
Cash 6000, stock 12000, debtor 8000, building 50,000, land this money into business, rent
During the year trader sold ornaments of his wife for 25000 and put
1500permonth paid for his residence
Depreciation on building @5%per annum
Provision for bad debt @10% per annum
Find out profit or loss during the year under single entry system ?
27. Can a limited companies prepared its books
IGST
28. Define CGST,SGST, and tax and transactions in which it levied
29. Write the tax rates of goods and service
following transactions, Preparea Sales Returns Book of Subhash furniture's.
30. From the
 2015 (Credit Note No.209)
Returned by Anil furniture house

Jul-09 5Table@Rsrs@Rs..150each
10Chai
Trade discount .100each
@10%
No.210) 1
Ret urned Jitesh Woods(Credit Note
by. @Rs. 1700 each
Jul-30 Trade
Dressingdiscount @10%
tables

10000 onits installation on 1oct

31. Acompany purchased machinery costing rs 50000 and spent rs
annum on written
2001, preparemethod of depreciation is 10%per
machinery account forfirst three years if rate
down value
S2. ldentify Personal, Real and Nominal account from the tolowing. (c) Rent Accrued
(a) Rent Paid (b) Rent Received
(0 Purchase
(d) Machinery (e) Capital
purchased machinery costing 100000 on 1st april 2019 and spend20000 on its erection
COnpany
year another machinery was purchased for 60000. on 30 june 2020 the machinery
s OCt in the same 80000 and another machinery was purchased for 20000. On
Wnin was purchased on 1st april 2019 sold for
for 55000. Rate of
10ct 2021 the machinery which was purchased on 1 oct 2019 disposed off every year.
depreciation is 10% on original cost and books are closed on 31 december
OR
Rectify the following errors
(a) Goods sold to rohit debited to mohit 500
(b)Cash received from aman rs 300 credited to arun
(c)Rent paid to rohit rs 400 debited to his personal acCount
(d)Discount allowed rs 100 credited to discount account
(e) Goods purchased from aakash rs 1000 recorded in the sales book rs 400
() Depreciation on machinery omitted to be posted in depreciation account
(g)Goods sold to amit rs 600 not recorded in the books
(h) Sales book under casted rs 200
34. Prepare double coloumn cash book from the following
5000
(a) opening balance cash 4000 and bank overdraft
(b)cash sale 500
(c) goods purchased and payment made by cheque 460
(d) rent paid by cheque 200
gopal
(e) cheque of 400 received from bank
() gopal cheque deposited into
(g) intrest on overdraft 550
(h) 300 deposited into bank personal use
(i) 100 withdrew from business for
cheque 7000
i) commission received by
250
(k) withdrew from bank4500
() received from amit from bank for 1800
(m)A bill of 2000 discounted
 (n) Deposited into bank balance of cash in excess of 150
OR
the tollowing trial balance extracted from the books of MMN, prepare the trading and profit and
rrom
loss account for the year ended 31st December, 2013 and the balance sheet as at that date.
Name of Accounts Debit Balance(Rs) Credit Balance(Rs)
90,000|
Capital 6,480
Drawings 25,000
Land and buiding
Plant and machinery 14,270
Furniture and fixtures 1,250|
Carriage inwards 4,370
21,470|
Wages 4,670
Salaries
2,470
Provision for bad debts
Sales 91,230
Sales return 1,760|
Bank charges 140|
Coal, gas and water 720|
Rates and taxes 840
120|
Discount
Purchases 42,160|
Purchases return 8,460
Bills receivable 1,270
Trade expenses 1,990|
Sundry debtors 37,800|
Sundry creditors 12,170
Stock (1st January, 2013) 26,420|
Apprentice premium 500|
Fire insurance 490
Cash at bank 13,000
|Cash in hand 850

Total 2,04,950 2,04,950

Additional Adjustments
Charge depreciation on land and building at 20%, on plant and machinery account at 10% and on
doubtful debts.
furniture and fixtures at 10%. Make a provision of 5% on debtors for