Sample Question Paper for Class 11th

Accountancy (Annual Examination)

Annual Examination (2020-21)

Subject – Accountancy

Class – XI Commerce

Time: 3 Hours M.M. 80

General Instructions:

i. This question paper contains Two parts A & B. Both the parts are compulsory for all.

ii. All parts of questions should be attempted at one place.

iii. Questions 1 to 14 (1 Mark),15 to 16(3 Marks), 17 to 19(4 Marks), 20 to 21 (6 Marks), 22 to 23 (8 Marks), 24 to 29 (1 Marks), 30 to 31 (4 Marks), 32 (6 Marks)

Part – A

Q1. Accounting is considered as backbone of the business. How would you define accounting in the context of a newly starting business?

Q2. What is meant by Invoice OR Bill in context of ‘Source Documents’?

Q3. Give two examples of Fictitious Assets.

Q4. Explain any three internal users of Accounting Information.

Q5. What is meant by a ‘Statement of Affairs”?

Q6. “Quality of staff cannot be recorded in the books of accounts”. Which limitation of Accounting is showing in this statement?

Q7. Bank overdraft is a:

a) Short-term liability

b) Long-term liability

c) Contingent liability

d) None of these

Q8. If the amount of any known liability can be determined with accuracy:

a) A liability should be provided

b) A provision should be made

c) A reserve should be set be aside

Q9. A bill of exchange cannot be.

a) Endorsed

b) Crossed

c) Accepted

d) All of the above

Q10. Is it correct that Bank Reconciliation Statement is prepared once i.e. at

the end of the year?

Q11. To record a purchase of Assets, why Assets Account is debited?

Q12. What is opening entry?

Q13. Live Stock includes:

a) Plant & Machinery

b) Animals

c) Stock

d) Life Insurance Policy

Q14. The type of Accounting are:

a) Purchase Accounting

b) Sales Accounting

c) Final Accounting

d) CostAccounting

Q15. Explain Consistency assumption and Revenue Recognition principle of accounting.

Q16. Give any three objectives of Good and Service Tax.

Q17. What are the objectives of Accounting Standards?

Q18. What are accounting vouchers? And what are their features?

Q19. On March 15, 2018 Ramesh sold goods for Rs. 8,000 to Deepak on credit. Deepak accepted a bill of exchange drawn upon him by Ramesh payable after three months. On April, 15 Ramesh endorsed the bill in favour of his creditor Poonam in full settlement of her debt of Rs. 8,250. On May 15, Poonam discounted the bill with her bank @ 12% p.a. On the due date Deepak failed to met the bill and request him to draw a new bill for 2 months with interest @ 18%p.a.. Record the necessary journal entries in the books of Deepak.

Q20. Rectify the following errors by passing entries:

a) Credit sale of old furniture to Harish for 1,200 was posted as 2,100.

b) Goods purchased from Dhawan Rs.4,000 passed through sales book.

c) Cash paid to Virat Rs.3,600 is recorded as Rs.6,300

d) Rs.6,100 paid to Aryan is debited to Rohan’s Account

e) Sold goods to kansal Rs.750 entered in sales book as Rs.570

f) Rent paid to Landlord Rs.2,000 is debited to Landlord’s account

Q21. Journalise the following transactions:

a) Shyam become insolvent. A first and final compensation of 75 paise in a rupee was received from his official receiver. He owed us Rs.10,000

b) Charge interest on drawing Rs. 1,500

c) Deposited cheque from saving Account in firm’s Account Rs.50,000

d) Received cash for a bad debts written off last year Rs.5,000

e) Stock at the end of the year Rs. 42,000

f) Goods lost in theft- Rs.5, 000, which were purchased paying IGST @12% from Alwar, Rajasthan.

Q22. On 1st January, 2015, VK Ltd. Purchased machinery for Rs.2, 40,000 and on 30th June 2016, it acquired additional machinery at a cost of Rs.40, 000. On 31 July, 2017, one of the original machine (purchased on 1st January, 2015) which had cost of Rs.60, 000 was found to have become obsolete and was sold as scrap for Rs.15, 000. It was replaced on that date by a new machine costing Rs.16, 000. Depreciation is to be provided @ 15% p.a. on the fixed installment method. Show machinery account till 31st March 2018 by following financial year.

Q23. From the following Trial Balance of M/s.Ram and Sons as on 31st December. 2020, prepare Trading and Profit & Loss Account and Balance Sheet.

Particulars

Amounts

Particulars

Amounts

Trade expenses

Stock (opening)

Freight & duty

Carriage outwards

Sundry debtors

Drawings

Furniture & fixtures

Capital

Returns inwards

Reserve for doubtful debts

Printing & stationery

Rent received

800

15,000

2,000

500

20,600

6,000

5,000

80,000

2,000

800

400

1,600

Plant & Machinery (on 1 Jan)

Additions to Plant & Mach. (1 July)

Rent, rates & taxes

Insurance charges

Sundry creditors

Salaries and wages

Sales

Cash in hand

Returns outwards

Cash at bank

Postage & telegrams

Purchases

20,000

5,000

4,600

700

10,000

21.300

1,20,000

6,200

1,000

20,500

800

82,000

Adjustments:

a) A fire occurred on 5th December 2020 in the godown and stock of the value of Rs.5, 000 was destroyed. It was insured and insurance company admitted full claim.

b) Insurance prepaid was Rs.100.

c) Depreciation on furniture & fixtures at 5% p.a. and on plant & machinery 20% p.a.

d) Reserve for doubtful debts is to be maintained at 5% on sundry debtors.

e) Write off Rs.600 as bad debts.

f) Stock in hand on 31-12-2020 Rs.14, 000.

PART –B

Instructions: following are two given statements. Read both the statement and choose the correct alternative:

A. Both the statements are true and statement – II is correct explanation of statement – I

B. Both the statements are true but statement – II is not correct explanation of statement – I

C. Statement I is true but statement – II is false

D. Statement II is true but statement – I is false

Q24. Statement – I “Accountancy starts where book-keeping ends”.

Statement – II “Accountancy refers to the entire body of the theory and practice of Accounting.”

Q25. Statement- I “Book-keeping is the language of business”.

Statement- II “Book-keeping is an Art or Science”.

Q26. Statement-I “Accountant is not required to possess analytical skill”.

Statement-II “Book-keeper is not required to possess analytical skill”.

Q27. Statement-I “ Book-keeping is primary stage”

Statement-II “Accounting is secondary stage, accounting starts where bookkeeping ends”

Q28. Money owned to an outsider is …………………..

Q29. What is Imprest system of Petty Cash Book?

Q30. Calculate Total Sales from the following information :

Bills receivable as on 1st April, 2019 Rs.7, 800

Debtor as on 1st April, 2019 Rs.30, 800

Cash received on maturity of bills receivable during the year Rs. 20,900

Cash received from Debtor Rs. 70,000

Bad debts written off Rs. 4,800

Return inward Rs. 8,700

Bills Receivable dishonored Rs. 1,800

Debtors as on 31st , March, 2020 Rs.25,500

Bills receivable as on 31st , March, 2020 Rs.6,000

Cash sales during the year Rs.15, 900

Q31. Raghunath had the following transactions in an accounting year:

i. Commenced business with cash Rs. 50,000

ii. Paid into bank Rs. 10,000

iii. Purchased goods for cash Rs. 20,000 and credit Rs. 30,000

iv. Paid Salary for 4 months in Advance Rs. 500/month

v. Sold goods for cash Rs.40,000 costing Rs. 30,000

vi. Rent Outstanding Rs.100

vii. Bought furniture on credit Rs.5000

viii. Bought refrigerator for personal use Rs.5,000

Q32. Following information has been given by Rajendra. Prepare a Bank Reconciliation Statement as on 31st March, 2020, showing balance as per the Cash Book.

i. Debit balance shown by Bank Statement Rs. 17,800.

ii. Cheques of Rs. 21,600 were issued in the last week of March but only cheques of Rs. 14,800 were presented for payment.

iii. Cheques of Rs. 10,750 were presented to the bank. Out of them, a cheque of Rs.4,200 was credited in the first week of April, 2018.

iv. A cheque of Rs.1, 200 was debited in the cash book but was not presented in the bank.

v. Insurance premium paid by bank Rs. 1,450.

vi. A Bill of exchange of Rs. 6,200 which discounted with bank was returned dishonored but no entry was made in the Cash Book.

vii. A draft for Rs. 5,000 favoring Basu Brothers was issued by bank charging bank charges of Rs. 100. “In the book, entry for Rs. 5,000 was recorded.