SCHOOL

LATO PUBLIC SR SEC

TERM-1 EXAM-2022-23

CLASS XI (SET A) TIME:3HRS.

SUBJECT: ACCOUNTANCY MM:80

GENERAL INSTRUCTIONS:
This Question compuisory
Paper contains33 questions. All questions are

Question nos. 1to Ontains33 questions. A"

*Question 1
20
*Question nos. 21 to 24carrying 3marks each
1

Question nos. carrying marks eacn

25 to 29
carrying 4 marks each.
Question nos. 30 & 31
Question
carrying 6 marks eacn
nos. 32 & 33
carrying 8 marks eacn
r e c e i v e d in cash tlen
Q) Goods costing Rs 50,000 sold at a loss of 20% on COst, Rs.12,000

debtors will increased by

Rs
Q2)1t Pooja returned then
account will be -- -a5 Pper
goods of Rs 2,000 to us, -

Modern Approach.
for liabilities and apita.
Q) ASSERTION (A): The rules of debit and credit are the same
REASON (R): Rules of debit and credit are the same for liabilities and Capilal beciuse o

Business Enuty concept.

is corrcet
In the context of the above statements, which one followng
of the
cOrreet
(B)(A) wrong, but (R)
1s
is
A) Both (A) and (R) are correct.
Both (A) and (R) are wrong
K)A) is correct, but (R) is wrong (D)
voucher which s prepared
10 chairs @ Rs 500 cach, uhe
Q4) A trader purchased
will show Rs prepared tor sucth
credit and the accounling vouchers
Transaction with onc debit and one
Q5)
transactions is known as:

r a n s f e r voucher d) Credit voucher

voucher b) Debit voucher
a) Compound
custoiners, we prepare:
the goodsto
Q6) While returning
(b) Credit Note (c) Invoice (d) Cash-memo
,
(a) Debit Note
he irm tor 3 crores, keeps on
changing
that
Q7) The value of a building the principle of has becn purcascd by
violates
w i t h its market value

b) Matching ) Money Measurement d) Materiality

a) Historical cost
the comparison of the financial result inter- firm as well
which enables
as

Q8) State the principle

Intra fim.
b) Prudence
c) Full disclosure d) Matching
a) Consistency
transaction?
Which one is a c:pital
Payment of wages (C) Sales of goods (d) Purchase of
(a) Purchase of goods )
machinery
 lst
ice of
pe
merchandise
Crchandise allow
allowed to retailers by whole
from the
reduetion
Q10) A )A percentage
seller is calicd:
(6) Cash discount
(c) Trade discount (d) Allowance
(a) Commssion
ble which
wu
proves
p be
to be
O v e s to uncollectiblei
uncollectible is termed as:
receivabie
Q1)A portion
of the acecounts
(c) Provision for bad debts
(6) Doubtlul debis (d) All of
()Bad debts
these
forRs.14,000, in this transactior
Ks. 14,0, in transaction what amount is treated
10,000 sold as
Q12) Goods costing Rs.
evenue and what amount is treated as incone
equal to:
current
líabilities is
Q13) urrent assets minus

(b) Profit () Capital (d) Loss

(a) Working capital

Q14) Match the following

Ouel
1) Expenses A) Voucher
2) nvoice B) Fictitious Assets
Rent_
D) Goodss

Q15)Assertion (A): Outstanding expenses is a lhability of business Organisation

Reason (R): An Outstanding Expense is a type of expense that is due but has not been paid.
Both (A) and (R) are true and (R) is the correct explanation of (A).
0 50th (A) and (R) are true and (R) 1s not the correct explanation of (A).

(c) (A) is tnue, but (R) is false

(d) (A) is false, but (R) is true.

Q16) Wages paid for the crection of machinery will be debited to

Alc
Q17) Following balances appeared in the books of Rishabh on 1 January 2019: Fumiture Rs.
40,000, Creditors Rs. 30,000. Cash Rs.6,000; Bank Rs.
10,000; Debtors Rs.45,000; Bills
Payable Rs. 5,000, Stock Rs, 44,000; Capital account will be credited with
, 0UY

30
QIS) What do you mean by Compound Journal entries. Give an example also.

Q19) Purchased goods list price of Rs.80,000@ 10% trade discount and 2% cash discount.25%
of aniount paid immediately. The amount posted to cash account wil D
1) Rs.16,740 2) Rs.17,640 3) 4) None of them
Rs.18,640
Q20) 1 here Was a loss by fire of Rs.10,000 but company approved the claim of only Ks. 8,000
this ditierence of Rs.
2,000 will be debited to_
)Cash account 2) Insurance claim account 3) Profit and loss account 4) Loss by fire
CCOun

or
pt Accounting principle assumes that a busincss
iquidated in near
future!? Explain.
31
 (3)
Creant
Q22) Write the difference between Debit note and

Q23) Joumalise the following

a) Life Insurance Prejnium paid Rs 5,700
bad deot
now
recovercd.

(3)
b) Rs.1,900 previously written off aus
c) Rent paid for next year Rs.7,000. the
items. He has provided
stationery
is involved in buying and selling
of School (3)
Q24) Mr. Gopi of 3 1st March, 20Z1:
1OOWIng ntormation at the end
Cash sales during the year Rs. 9,00,000.
Credit sales during the year Rs. 4,00,000. Rs. 1,00,000.
5,00,000. Expenses
not paid yet
Epenses paid in cash Rs.
Find out the Income of Mr. Gopi
Accrual Basis of Accounting
on h e basis of: (a) Cash Basis of Accounting (b)
OR 2020-21. 1he
the Accounting period
8,00,000 during
ppu nas inade
total sales include
aof Rs.
tothl of sales
70% cash sales and remaining is creat Saic

follows,
Details of total expenses for the year as 20,000.
Insurance premium pad Rs.
paid Rs. 2,00,000. Rent paid Rs.
12,000.
laries
Commission Outstanding Rs. 18,000.
the basis of: (a) Cash Basis of Accounting (5)
Find out the income of Mr.Pappu on

Accrual Basis of Acounting

is interested in financial statement analysis? (4)
Q25) How banks and Mahagement
OR

How owners and Ctecditors interested in financial statement analysis '?

are

Account (b) Cost (c) Expense (d) Non Current ASset

OR Trade
Q26) Define the terms (a)
(4)
payables.
Q27) State any two Advantages of Cash basis and Acerual Basis. (4)
OR
State any two Disadlvantages of Casl1 basis and Accrual Basis.
Q28) Explain the Qualitative characterstics of Accounting Information. (4)
Q29) From the following lransactions of M/s Kapoor Traders,prepare Vouclhers (4)
(a) Paid for advertisement expense Rs. s000/ vide Cah Memo N0.68
(b) Withdrawn cash from Bank Rs 3000 for oftice use, vide Chequc No.20760.
to
CSold goods Rama Chand
(d) Depreciation charged
,Bill No.87 for Rs.70,000
Furnture on
costing Rs.50,000 @0 p.a.

Q30) Conplete the following Table by illing Missing ligures:

Case Additional Drawings
(6)
Opening
Capilal Apital
ProfivLoSS Closing
70,000 14,000 Capital
6,80,000 20,000 20,00
90,000 4,90,000
5,00,000 1.50,000 (50.000)
3,88,000 12,000 46,00 (30,000) 5.70,000
6,00.000 29.0 4.25.000
745,000 1.60.000125.00 60,000 7.60,000
,20.000 .000
A
State thhe Nature of Accounts As per iaOnd
and
Moder Approach and treatmen
Q31)
according to the Modcrm Approach. ()
credit from Dinesh
a) Purchased goods Rs. 80,000
on

to Mohan Rs 40,000
b) Sold goods on credit
Rs.I0,000
C) Commission received
d) Bank charges Rs.i,200
to Rita Rs.8,000
)Salary paid Rs.5,00,000
1) Taken Loan from Sohan for business

Q32) Prepare Accounting Equation from the following inforniation:

an )
Rs. 50,000 and Stock Rs. 20,000
(1) Started business with cash Rs. 80,000 and Machinery
(2) Purchased furniture from Dincsh on credit Rs. 10,000
(3) Accn:ed Income Rs.2,000
(4) Commission Received.in advance Rs.l,000
() Interest on capital @ 10% (only on casih introduccd as capital)

(6) Proprietor paid the college fecs of his son by using business mocy Rs.25,000
(7) (Coods sold on credit (costingRs. 10,000) for Rs.12,000
(8) Bought Furniture from Sinith for Rs. 15,000 and paid Rs. 5,000 in cash and for the balance,

bill was accepted.

Q33) Journalise the following transactions; (8)

t) Srhan is declared insolvent and pays only 75 paise ina rupec. On a debt of Rs 1,000.
2) Depreciate Machinery Rs. 30,000 @10% p.a. for one month.
3) Sold goods to David for Rs 1,20T»5% Trnde diseount and 4% Cash discount.
Reccived 60% amount by cash on the same day.
4) Goods destroyrd by fire (Sales price Rs 5000, Cost Rs 4,000)
5) Issued a chcque of Rs 39,000 to Param, a creditor in settlerment of his account of Rs
40,000.
6) Gcods purclhased from Mayank list price Rs 1,00,000 at 10% Trade discount and C'ish
dhscount of 5% on payment within :0 days from the date of transactions. Pay.nent received
on time.

) Interest charged by Bunk Rs.900

S) Intere:t due but not reccived Rs 4,000