Name of Student…………………………… Class…………………..

ACCOUNTANCY / XI / HALF YEARLY EXAMINATION / SET- 1 / 2022-23

Maximum Time:3 Hour Maximum Marks: 80
1. Internal users of accounting information include all of the following except- (1)
(a) Store Manager (b) Chief Financial Officer (c) Supplier (d) Chief Executive Office
2. Goods means ….. (1)
(a) Commodity to be bought and sold (b) Commodity to be bought and not to be sold
(c) Commodity to be used an Asset (d) All of the above
3. The Accounting Equation represents ………. (1)
(a) Resources are allocated at Cost Price (b) Resources in the business are equal to sources of business
(c) Proprietor gives money for business
(d) Resources in the business are not equal to the source of business
4. Under ………. feature of accounting, meaningful and sound judgment can be made about the profitability
and financial position of the business. (1)
(a) Analysis and Interpretation (b) Communicating
(c) Summarising (d) Classifying
5. Commission received is an example of …… (1)
(a) Real A/c (b) Personal A/c (c) Nominal A/c (d) None
6. Under the Companies Act 2013, all companies are required to maintain their accounts according to (1)
(a)Cash basis (b) Accrual basis
(c)Either Cash or Accrual basis (d) None of the above
7. Which of the following transactions increases one liability and decreases another? (1)
(a) Acceptance of Bills payable (b) Payment of Bills payable
(c) Repayment of loan (d) Payment of salaries of last year
8. The concept that a business enterprise will not be sold or liquidated in the near future. This statement is
based on ………… (1)
(a)Business Entity Principle (b)Money Measurement Principle
(c)Matching Principle (d)Going Concern assumption
9. On 31st March, 2021, total assets and external liabilities were₹ 1,00,000 and ₹ 3,000 respectively. During
the year, the proprietor had introduced additional capital of ₹ 12,000 and had withdrawn ₹ 6,000 for
personal use. He made a profit of ₹ 10,000 during the year. Calculate the capital as on 1st April 2020. (1)
(a)₹ 97,000 (b)₹ 1,00,000 (c)₹ 81,000 (d)₹ 1,03,000
10. Accounting standards are formulated by (1)
(a)Planning Commission (b)Institute of Chartered Accountants of India
(c)Companies Act. 2013 (d)Institute of Company Secretaries of India
11. Purchase of goods from Raghu for cash will be credited to….. (1)
(a)Purchase Account (b)Raghu's Account
(c)Cash Account (d)Goods Account
12. When a cheque deposited into bank is dishonoured by bank, it will be recorded in cash book in (1)
(a)Bank column on debit side (b)Bank column on credit side
(c)Cash column on debit side (d)Cash column on credit side
13. Purchases Book is a part of …….
(a)The Journal (b)The Ledger (c)Income Statement (d)Balance Sheet
. Asset sold on credit will be recorded in …….
(a)Sales Book (b)Journal Proper (c)Sales Return Book (d)Petty Cash Book
14.Trade Discount allowed will be recorded in the …….
(a)Cash Book (b)Petty Cash Book (c)Special Purpose Subsidiary Books (d)Journal Book
15. Accounting can perform in various fields , .Explain any three. (3)
16. Identify the following items under following category. Real, Nominal and Personal Account? (3)
(1) Capital (2) Software (3) Fictitious Assets (4) Accrued Income
(5) Tenent (6) Bank Overdraft
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17. Differentiate between Cash & Accrual basis on the following points. (3)
a. Conceptual Knowledge b. Result c. dynamic in nature
18. Elebrate the meaning of. a.Debit note b. Accounting vouchers c. Pay-in-slip (3)
19. The Capital of Ms. Alka on 1st April, 2018 was Rs. 10,00,000 and on 31st March, 2019 was Rs.
9,60,000. He has informed you that he withdrew from the business Rs.16,000 per month for his private
use. He paid Rs. 40,000 for his income-tax and the installment of the loan of his personal house at the
rate of Rs. 30,000 per month from the business. He had also sold his shares of Reliance Company costing
Rs. 2,00,000 at a profit of 20% and invested half of this amount in the business. Calculate the profit or
loss of the business. (4)
20. Define the following terms. (4)
a. Revenure from operation b. Net profit c. Cost of goods sold d. Solvent
21. Prepare Furniture and Capital account from the following transaction. (4)
(a) Capital introduce Rs. 30,000 (b) Furniture purchased Rs. 50,000 (c) Drawing made by him Rs.6,500
(d) Furniture sold costing Rs.15,000 (e) Further capital introduce Rs. 22,000 (f) Profit for the period
Rs.7,500 (7) Furniture purchased Rs. 15,000 (8) Old furniture discarded Rs.5,000 (9) Depreciation on
furniture Rs.3,000 (10) Drawing made Rs.3,000
22. Classify these items under the head Revenue, capital and Deferred Revenue expenditure? (4)
(i) Amount spends on the installation of machinery in the firm. (ii) Legal Charges paid.
(iii) Legal Rights Purchase From a M..N.C (iv) Depreciation charged on Machinery
(v) Amount paid to a film star who is appointed to promote Our Product in the market for 3 years.
(vi) A Large amount is spend on Advertisement (vII) Raw material purchased
(viii) Purchase of coputer software
23. Prepare an Analytical petty Cash Book From the following information 31st Jan.2015. When Imprest
Amount of the month Rs.14,000 (4)
Date Transaction Amount Date Transaction Amount
Jan.1 Cash in hand 4,500 Jan.9 Paid for Repair charges 400
Jan.5 Received petty Cash 9,500 Jan.15 Paid Refreshment Charges 800
Jan.6 Paid cartage 1,000 Jan.17 Paid for bus fair 900
Jan.7 Paid for postage 2,000 Jan.31 Find out balance of petty cash ?...
24. Elobrate the meaning of following with the sutiable examples. (6)
a. Matching Concept b. Mateiality principle c. Accrual Concept
25. Following balances are extracted from the book of Ravinder Singh as at 31 st March 2014.
Particulars Amount. (Rs) Particulars Amount (Rs)
Sundry Debtors 4,10,000 Stock (April 1, 2014) 2,30,000
Creditors 80,000 Premises 12,00,000
Rent and taxes 41,000 Fixtures and fitting 3,10,000
Purchases 34,00,000 Bad debt written off 8,000
Sales 56,00,000 Rent received 30,000
Trade expense 12,000 Loan from Mukul 1,50,000
Return outward 80,000 Interest on Mukul Loan 15,000
Expense 4,000 Drawings 40,000
Motor Vehicles 6,50,000 Cash 75,000
Electricity 25,000 Stock on 31st March 2015 3,80,000
Return inward 1,20,000
You are required to draft trail Balance and also calculate the amount of capital. (6)
st
26. A Prodction base company commence its business on 1 April 2015.During April the manager of
company deal with various transactions and decided to show then in the form of accounting
equation. You are require to help him. (6)
a. Owner Invested Rs. 5,00,000 in cash, his ancestral property of Rs. 2,00,000 and stock for the
newly started business
b. Purchase office supplies on credit Rs. 90,000 out of which Rs.20,000 was immediately.

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 c. Supply Goods to a customer for Rs. 50,000. Which is 10% above cost. The amount is to be paid
within 30 days
d. Received Rs. 49,000 Payment from client within 20 days after allowing cash discount of Rs. 1,00
for transaction stated above.
e. Paid Rs. 7,500 salary to office manager.
f. Provide a compensation of Rs.10,000 against the claim of default in stock supplied earlier.
27. Pass the journal entries of the following transaction in the books of All Ltd. (8)
(1) Sold goods to Anil Rs. 20,000 allowed him 10% Trade Discount and 10% Cash Discount .Received
half of the amount by cash and half by cheque with specified time.
(2) Received Rs. 9,750 from Shyam on his account for Rs. 10,000
(3) An old Machinery with the book value of Rs. 80,000 is exchanged for a new Machinery of Rs.
2,40,000 . the old machinery is valued at Rs 50,000 for exchanges purposes by machinery tools
ltd.
(4) A Cheque from a customer amounted Rs. 5,000 deposited in the bank was returned dishonored.
(5) Closing Stock Of Rs. 10,000 at the end of the year
(6) Annual insurance of Rs.12,000 was paid on 1st June,2020. The Firm close its books on 31st march
every year.
28. Prepare a Double column of cash book from the following transaction. (8)
April.1 Cash in Hand Rs. 2,400 ; overdraft at bank Rs. 30,000
April.3 Further capitals introduce Rs. 40,000 out of which Rs. 32,000 deposited in the bank.
April.4 Purchase goods from shyam lal amounting to Rs, 6,000 and they allow trade discount Rs.
400 the amount was paid by cheque
April.16 An Amount of Rs. 2,000 due from gupta brothers were written off as bad debts in the
previous year, now recovered.
April.17 Received from Murli on behalf of Manoher Rs.400
April.20 Sales of old furniture, amount received in cash Rs.1,440
April.25 Cashed owned cheque Rs. 6,000
April 25 Drew from bank for house hold expense Rs.2,000 and for income tax Rs.500
April.28 Surander who owed Rs. 800 had bankrupt and paid .60 paise in a Rupee.
April.28 Received repayment of loan Rs. 6,000 and deposited out of it Rs. 5,000 into bank
April.30 Interest debited by bank Rs. 750
April.30 Deposited the entire balance with the bank after retaining Rs.4,000 at office

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