Ge ryxCBSEguidecom A Complete aide for CBSE stdens CBSE Class 11 Accountancy Question Paper 2018 Time allowed : 3 hours Maximum Marks : 90 General Instructions : 10. a. 12. 13. 1. SPN ee eee All questions are compulsory. Attempt all pars of a particular question at one place. Name any two external users of accounting information. (1) Define Voucher. (1) Should a transaction be first recorded in a journal or ledger? Why? (1) What are special purpose books? (1) Not in Revised Syllabus (1) Name any two accounting softwares. (1) Explain any three objectives of accounting. (3) Differentiate between source documents and vouchers. (3) Journalise and identify the values involved in the following transactions : i. Donation given to an organisation working for children with special needs Rs. 20,000. ii, Purchases a machiner for making echo-y jute bags Rs. 2,50,000. (3) Distinguish between ‘revenue reserve' and ‘capital reserve’. (3) What is meant by marshalling of assets and liabilities? Name the ways in which a balance sheet may be marshalled. (3) Describe any three advantages of computerised accounting system. (3) "Cash Basis of Accounting is nota better basis for depicting the correct financial position of an enterprise." Do you agree? Give reason in support of your answers. (4) Pass Journal entries to recify the following errors, in the books of Prem, which were located after preparation of trial Balance : (4) a. Sales book was overcasted by Rs. 7,000. b. Old furniture sold to Kapil For Rs. 12,000 has been entered in Sales book. c. Sales of goods to Dheeraj amounting to Rs. 25,000 has been wrongly passed through Material downloaded from myCBSEguide.com. a/6Ge ryxCBSEguidecom 4 Compl side for CSE sds Purchases book. d. Wages paid for construction of building Rs. 40,000 was debited to wages account. 15. Kavish, who keeps his books on single entry system, stared his business on 1st April, 2016 with a capital of Rs. 3,00,000. At the end of the year ie., on 31st March, 2017 the position of Assets and Liabilities was as under: Particulars Rs. Cash at Bank 25000 Furniture 220000 Machinery 75000 Debtors 40000 stock 60000 Creditors | 70000 Bills Payable 20000 During the year, he introduced Rs. 40000 as additional capital and with-drew Rs. 15,000 for his personal expenses Prepare a statement of profit and loss to calculate profit or loss for the year ended on 31st March, 2017. 16. Notin Revised Syllabus. (4) 17. Notin Revised Syllabus. (4) 18. Explain the following accounting principles/concepts : (6) i. Accrual Concept ii, Business Entity Concept Money Measurement Concept 19. On 1st April, 2014, Veeru Ltd. purchased a machinery for Rs. 2,50,000 and spent rs. 50,000 on its installation. On ist July, 2016 1/3rd of machinery purchased on 1st April, 2014 was sold for Rs. 15,000 and a new machinery at the cost of Rs. 2,00,000 was purchased on the same date. The company has adopted the method of providing depreciation @ 15% p.a. on straight line method. Show the machinery account, provision for depreciation account and machinery disposal account for three years ended on 31st March, 2015 to 31st March, 2017. (6) 20. Define Software. Explain different types of softwares used in a computer system. (6) Material downloaded from myCBSEguide.com. 2/6Ge ryxCBSEguidecom 4 Compl side for CSE sds 21. Enter the following transactions in two-column cash book with cash and bank column of 2. Bp. Ms. Sunita : 2018 Rs. January 1 | Cash in hand 70,000 Bank overdraft 50,000 January 4 | Sold goods 50,000 January 5 | Cash deposited into bank 80,000 January 7 | Cheque issued to Meena in full settlement 30,000 January 8 | Withdrawn from bank for personal use 5000 January ; ? As Sold goods to Ajay and cheque received from him 25,000 January . ‘i he ‘es Cheque received from Ajay deposited into bank januai January | pank charges 500 20 January ie Interest charged by bank 2500 January = Received cash from Ramesh 28000 January | | a cunita'clife i . 38 Paid Sunita's life insurance premium by cheque 15000 January | Deposited into bank the entire balance afer retaining Rs. cash in |. 4, 30 business. ° Not in revised syllabus. (6) Mehak sold goods for Rs. 24,000 to Shally on July 31, 2017 and drew three bills for Rs. 6,000, Rs. 8,000 and Rs. 10,000 payable after two, three and four months respectively. The first bill was kept by Mehak with her till maturity date. She endorsed the second bill in favour of her creditor Kanak. The third bill was discounted on September 3,2017 @ 12% p.a. from bank. The first and second bill were duly met on maturity but the third bill was Material downloaded from myCBSEguide.com. 3/6Ge ryxCBSEguidecom 4 Compl side for CSE sds dishonoured and the bank paid Rs. 150 as noting charges. On December 3, 2017 Shally paid Rs. 5,000 and noting charges in cash and accepted a new bill at two months after date for the balance amount plus interest Rs. 200. The new bill was met on maturity by Shally. You are required to give the Journal Entries in the books of Mehak. (8) OR Overdraft balance shown by the bank column in the cash book of Mr. Vivek is Rs. 45,000. Prepare Bank Reconciliation statement as on December 31, 2017; i. Abill receivable for Rs. 5,000 previously discounted with the bank had been dishonoured and debited in the pass hook. ii, Interest on 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 overdraft 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 Rs. 12,500. vii. Cheques recorded in the cash book but not sentto the bank for collection was rs. 17,500. vill. Bank charges debited as per pass book Rs. 500. 24. From the following information of Aaradhya Traders, prepare Trading and Profit and Loss Account and a Balance sheet as at March 31, 2017: Name of Account Debit Rs. Credit Rs. Opening stock 45,200 Purchases 88,000 Drawings 15,000 Capital 70,000 Building 20,000 Motor van 6,000 Freight inwards 680 Return inwards 2,000 Return outwards 3,000 Material downloaded from myCBSEguide.com. alsGe ryxCBSEguidecom 1 Compe defor CE tet Debtors 5,000 Creditors 10,000 Sales 1,36,000 ‘Trade expenses 660 Power 1,600 7 Salary and wages 1,000 Legal expenses 600 Py \ Postage 200 Bad debts 1,300 Cash in Hand 15,800 Cash at bank | 19,600 Investments 8,000 Bills payable | 12,740 Invest received 4,000 Insurance | 700 Machinery 4,400 2,35,740 2,35,740 The following additional information is available : a. Stock on March 31 , 2017 was Rs. 46,000. Depreciation is to be charged on motor van @ 10% and on building @ 5%. Provision for doubtful debts is to be maintained at 5% on Sundry Debtors. Unexpired insurance was Rs. 120. The manager is entitled to a commission @ 5% on net profit before charging such commission. Peps OR Give Journal Entries for the following adjustments in final accounts : a. Extract of Trial Balance as on 31st March, 2017. Particulars Debit Rs. Credit Rs. Material downloaded from myCBSEguide.com. B/SGe ryxCBSEguidecom A Complete aide for CBSE stdens Sundry debtors 4,13,000 bad debts 7,000 Provision for doubtful debts 45,000 Additional Information : i. Additional Bad Debts Rs. 13,000. ii, Maintain the provision for doubtful debts @ 5 % on debtors b. On 31st March, 2017 stock worth Rs. 25,000 was destroyed by fire. The stock was insured and the insurance company admitted a claim of Rs. 21,000 only. c. Insurance prepaid Rs. 1,500. d. Goods costing Rs. 10,000 having market value of Rs, 15,000 were taken over by owner for personal use. e. Rent received in advance was Rs. 3,500. Material downloaded from myCBSEguide.com. G16