KONCEPT PUBLIC SCHOOL, CHAKRADHARPUR

TERM: II Session:- 2022-23

Class: XI Accountancy

Maximum Marks: 80 Time allowed: 03hours

General Instructions:
 Question number: 1 to 20 Carries 1 Marks
 Question number: 21 to 22 Carries 3 Marks
 Question number: 23 to 26 Carries 5 Marks
 Question number: 27 to 29 Carries 6 Marks
 Question number: 30 to 31 Carries 8 Marks

1. Define Accountancy?
2. What are Drawings?
3. Give two example of Intangible Assets?
4. Maruti car is:
a) Current Assets b) Intangible Assets
c) Tangible Assets d) None of the Above
5. What are Personal accounts?
6. What is the rule of recording transactions in Nominal Accounts?
7. Goods taken by proprietor for personal use is called:
a) Capital b) Drawing
c) Assets d) Liability
8. Goods worth Rs 7,000 given as charity would be credited to:
a) Sales A/c b) Purchase A/c
c) Charity A/c d) Trustee A/c
9. Give the full form of CGST.
10. What is Contra Entry?
11. Asset sold on credits will be recorded in:
a) Sales Book b) Journal Proper
c) Sales Return Book d) Petty Cash Book
12. Which of the following accounts always shows a credit balance:
a) Drawings A/c b) Purchase A/c
13. Trail Balance is prepared:
a) Before Journal b) After Journal
c) Before Ledger d) After Ledger
14. A Bank Reconciliation Statement is prepared by:
a) By Debtors b) By Bank
c) Account holder in bank d) By Creditors
15. What is Depreciation ?
16. Purchased goods from Gopal for Rs 3,600 but was recorded as Rs 6,300 to
the debit of Gopal. In the rectifying entry , Gopal’s A/C will be Credited with :
a) 9,900 b) 2,700
c) 3,600 d) 6,300
17. Give a formula to calculate ‘Cost of Goods Sold’ .
18. Goodwill is :-
a) Current Asset b) Tangible Asset
c) Intangible Asset c) Fictitious Asset
19. What are outstanding Expenses?
20. Income earned but not received is shown in :-
a) Liabilities b) Assets
c) Foot notes d) None of them
21. A commenced his cloth business on 1stApril, 2019 with a capital of
Rs 3,00,000. On 31stMarch, 2020 his assets were worth Rs 5,00,000 and
liabilities Rs 1 00,000. Find out his closing capital and profits earned during the
years.
22. Draw accounting Cycle.
23. Prepare Accounting Equation from the following:-
1. Started business with cash Rs 75,000 and goods Rs 25,000.
2. Paid fort Rent Rs 2,000.
3. Bought goods of cash Rs 30,000 and on credit for Rs 44,000.
4. Goods costing Rs 50,000 sold at profit of 25%, out of which Rs 27,500
Received.
5. Purchased a Motor-cycle for personal use Rs 20,000.
24. Rectify the following error:
i. Credit sales of Mridula Rs 5,000 were not recorded.
ii. Credit purchases from Nayna Rs 8,000 were recorded as Rs 800.
iii. Goods returned to Priya Rs 12,000 were recorded as Rs 12,200.
iv. Goods returned from Rashi Rs 10,000 were recorded as Rs 11,200.
25. Calculate cost of goods sold from the following:
Rs Rs
Opening Stock 40,000 Wages & Salaries 10,000
Net Purchases 50,000 Rent Paid 15,000
Net Sales 1,90,000 Closing Stock 15,000
26. From the Following balances, taken from the book of M/s Dwarka prashad
& Sons as at 31st March 2017, prepare a Trial Balance in proper form :-
Name of Accounts Rs Name of Rs
Accounts
Cash in hand 4,500 Machinery 24,000
Bank overdraft 8,000 Land & 50,000
Opening stock 20,000 Building 18,400
Purchase 80,000 Debtors 8,500
 Purchase Returns 2,000 Creditors 2,850
Sales 1,30,000 Bills Receivable 1,650
Sales Return 5,000 Bills Payable 60000
Travelling Expenses 1,800 Capital 6000
Discount Allowed 600 Drawing 3700
Discount Received 1,500 Rent 3600
Salaries 10000
Loan(Cr.) 1200
Interest on Loan

27. Enter the following transactions in the Cash Book with Cash and Bank
Columns:-

2016 Rs
June 1 Cash in hand 800
Bank Overdraft 5,700
7 Received a cheque from Bharti 3250
9 Deposited the about cheque into bank
12 Paid to Bhavana by cheque 2425
15 Bharti’s cheque returned dishonoured
20 250
Withdrew from Bank for office use
25 Cheque received from panna Lal and 1200
endorsed it in favour of Kamal on 28thJune 150
30
Income Tax Paid by cheque 25
30
Bank charges

28. Give journal Entries for the following transaction in the books of Raja Ram
& Co. :-

2017
March 3 2
Bought goods for cash of the list price of Rs 80,000 at 10% trade discount and 2 2
% cash discount.
March 5 Sold goods for cash of the list price of Rs 1,00,000 at 15% trade discount and 3%
cash discount.
March 6 Sold goods to Nagpal of the list price of Rs 1,00,000 at 20% trade discount.
March 8 Nagpal returned one-fourth of the above goods.
March10 Nagpal settled the account by paying cash discount of 5%.

29. Prepare Bank Reconciliation Statement as on 31 st January, 2017, if cash

Book of Mr. Sanjay showed a credit balance of Rs 20,100.
i. The bank had paid fire insurance premium of Rs 550 which does not
appear in the Cash Book.
 ii. Cheques for Rs 25,000 issued during January, but cheques for only Rs
18,500 were Presented for Payment.
iii. Interest collected by bank Rs 740.
iv. Cheques of Rs 8,700 were deposited into bank, but cheques for Rs 7,000
were cleared till 31st January, 2017.
v. A customer deposited Rs 620 directly into bank without informing Mr.
Sanjay.
30. A Company purchased a second-hand machine on 1st April, 2016, for Rs
30,000 and immediately spent Rs 4,000 on its repair and Rs 1,000 on its
installation. On Oct. 1, 2018, the machine was sold for Rs 25,000. Prepare
Machine Account after changing depreciation @ 10% p.a. by diminishing
balance method, assuming that the books are closing on 31st March every year.
IGST was changed @ 12% on purchase and sale of machine.

31. The following are the balances extracted from the books of Raghunath Ji as
on 31st March , 2019. From these balances, prepare his Trading and Proft &
Loss Account and Balance Sheet as at that date :

Dr.(Rs) Cr.(Rs)
Opening Stock 12,000
Purchases 40,000
86,000
Sales
400
Discount
6,000
Sales Return
50,000
Buildings
16,000
Debtors
2,400
Salaries
1,200
Office Expenses 4,000
10,000
Wages 800
Purchase Return
Interest 400
Travelling Expenses 800
Fire insurance Premium 20,000
Machinery 700
Carriage on Purchases 400 62,000
Commission 2,300 10,800
Cash in hand 1,800 1,64,000
Rent and Taxes
Capital
1,64,00
Creditors
0
Adjustments:-
1. Closing Stock was valued at Rs 16,000.
2. Wages Rs 2,000 and Salaries Rs 1,200 are outstanding.
3. Rent for two months at the rate of Rs 500 per month is outstanding.
4. Depreciate Buildings by 5% and machinery by 10%.
5. Prepaid Insurance Rs 200.

All The Best