l1$i~ J;n,iaT .

$tt111W11ru 5Jt11aol
Mayur Vlhar, Otlhl
Annual E11111ln11lon
Cius XII(2024-25)
Accoun1ucy (055)
l\1aumum mari<s: 80 Time : 3 Hours
QENERAL JNSTRUCTlONS:
I. Tht, question paper conlaios 34 qunlioM All quesdoru lll'C c:ompulJOfY.
2. This qu~on pllpcr is divided into two pruu, Pwt A and D.
Part-A· FINANCIAL ACCOUNTINO I
Pan-B • FINANCIAL ACCOUNTING 11
3. Q\lcstion I 10 16 and 27 10 30 carries I man; Cid\.
◄. Questions 17 to 20. lland 32 canicsl marks each.
S. Quc$tions from 21 ,22 and 33 came, 4 marb cnClh
6. QIICStions from 23 10 26 and 34 carries 6 marks cuch
7. There is 110 01·cmll choice. However, 11n iotcn10I cltolcc has been provided In 7 q~tlc,ns of one mark, 2
q11CStlons ofthrtc marks, 1 question of four marlcs and 2 questions of six marks.

PART-A
FINANCIAL ACCOUNTL~G - I
1 Given below nre l\vo stolcments, one labelled us Assertion (A) and tho other labelled as l
RC3SOn (R):
Assertioa (A) Suspense Account may show cilher o debit or a credit balance.
Reason (R}: Suspense Account always shows a debit balance.
In the context of the above stntemenls, which one of the following is com:ct?
(a) Both (A) Md (R) are correct nnd (R) Is the correct explnn111ion of(A).
(b) Both (A) ond (R) arc corrc<:I but (R) is n<>t the C-OITCCI explnnntion of(A).
~Only (R) is concct.
(d) Both (A) 1111d (R) ore in<:-Om:ct.

2 Voucher Ii, prep:in,d for :

1
I ~ t~ rtlititM! All ol ,-e
\
OR
Mahendm B customer Crom whom an BITIOUnt WllS due, dcclnrcd insolvent and paid 60
poise in a rupee. Total bad debts from him were written off~ 7,200. What was the
nmount actual! due from hirn
IL {24,000 b. ns.OOJ
c. t 12,000 d. ( 15.000

3 Oeprecia1ion Is calculolcd from lhe date or •.............

1
:ll'.' Purchnsc or Asset b. Receipt ofnsset 01 Lhe business
Drcln~
C. Asset PUI 10 USC d. Asset inslnllcd

4 A separate column is mode for 'Credit Nole No.' in l

11. Purchase Book b.
c. Purchase Return Dool. d.
OR
Debit baltinl)(.-s ~how ;
ACCOUNTANCY-XI
 5 Which qunlluitivc ch11r11c1erlstlc.q of accounting information Is rcnec1ed when ru:counting l
lnfonno1ion i~ eic:Mly pn::.cnlcd?
I a. Relevance
c. Reliobllity
b. Comporobtllty
d. Undemnndobllity
OR
Which of the following is included in qunlitnlivc charac1cristics of accounting information?

11.
c. Re
Relevance
inbllity
6. eomporobUlty
d. All of the above
l
6 Bonk Rcconcllinti • · : 1
n. A Bonk customer

,~
c. A

7 On..mvo-<st s, wh ich of the following account is credited: 1

n. In e ul CGST Ale
e. 0 IGST Ne ut SGST Ne
OR

I
GST Collected on Snlcs {Output GST) is a............
n. CoSt
c. Asset
I
for the seller
b. Liabil ily
d. Income

8 Which of the following is not a Currem Liability: 1

I a. Creditors
~- Outstnndlng Expenses
j b. Bank Overdraft
d. Prepaid Expenses
OR
Assets (Except Securities} mny be valued under In d- AS on·
a. Historical Cost b. Fair Value
c. Both Historical Cost and Fair d. Market Price
Value
9 The W.O.Y. ofon nsset after three years of depreciation on reducing bnloncc method @ 1
I 00/o p.a. is ~ I, 45,800. What was its original value?
I a ~ 1,80,000
c. ~ 1,89540
I b. ~2,00,000
d. ~ 1,62,000

10 Which accounting concept you would follow in dealing ~vi1h the situation _giv~o below 1
"During the year, the com1;1aoy purcbased.Pencils worlh,f 150. Th~e bad all b~n
is,aed from stock 'and were still In use at the cod ortbc year."'
I a. Money Measurement b. Materinlity
I c. AC(:ruaf d. Going Concern

11 Creation of reserve is: 1

a. useless b. illegal
c. necessary d. notnecessary

ACCOUNTANCY-XI 2
 . the ad vanta11.e of accounting?
Which one 1s
l2
a. Window dressing,
b. Renlru:cmenl of Memory
c. Sbmvs the present value of1he
business d. Sho,~s the effect of price level
13 Given below arc two statcmen chnnncs
Reason (R): IS, one labelled as Assertion (A) and the other labelled as
1
Assertion {A): Accounting record~ only lhe l1'1111Soclions of financial n111urc.
Reason ~): goods taken from the business by the proprietor for his personal use is not
offinanc,al character and hence not will be recorded.
In the context of the above Statemenis, which one of the following is corrccL
(a) Both (A) and (R) are correc1 and (R) is the correct expll'.lllntion of {A).
(b} Both (A) and (R) are correct but (R) is not the correct explanation of(A).
(c) (A) is IJ'Ue. bur (R) is false.
{d) (A) is false, bur (R) is true.
14 Following infonnation is provided by Yashwant for the year ended March 3111 2023. Net 1
profit as per Cash Basis of Accounting will be . . ... ·
Credit Sales ( 12,50,000
Cash Sales , 40,50,000
Expenses (out of which, 35,000 is still to be paid) t 5,00,000
a. '48,35,000 b. 't 57,65,000
c. ~ 58,oo.ooo d. ns.ss.ooo

15 Rent for the month of March, 2023 is not paid. Under which concept it should be 1
recorded as expense for 1he year ended 31" March 2023.
a. Mone Measurement b. Materiali
c. Accrun d. ofo Concern

16 Given below arc two statements, one lnbelled as Assertion (A) and the other labelled as l
Reason (R):
Assertion (A): Bank Reconciliation Statement is not a part of Double Entry
Book-Keeping.
Reason (R): lt is a method to ensure that there arc no errors in recording bank
transactions in the cash book.
In the context oflhe above statements, which one oflhe following is correct.
(a) Both (A) and (R) are correct and (R) is the correct explanation of (A).
(b) Both (A) and (R) 1UC colTCCt but (R) is not the corrcd explanation of (A).
(c) Only (R) is correct.
(d) Both (A) and (R) are incorrect.
17 What do you mean by 'Trial Balance'? Explain any two objectives of preparing trial 3
belancc.
OR
a Trial Balance from the following infonnation : Amount
Prepaid Expenses 5,000
Outstanding rent 2,000
4,000
Bad debts recovered
Interest oo Investment 1,000

J
~CV-XI
 Due to Mohan 5,000
Bank Overdraft 2,000
Discount allowed 800
Due from Vinod 1,200
Investment 15,000
Patents 4.000
Machinery 6,000
Capital 18,000
.
18 Record the following transactions in the Soles Book of Durgn Blectronics, Lucknow : 3
2023
March I Sold to Ruchira EleclJ'Onics. Luci..-now, vide invoice No. 123
5 BJ>L T. V.@ {20,000 enah.
Less : Trade Discount @ 20%.
March2 Sold to Gerun Electronics, Kanpur, vide invoice No. 124
IO Washing Machines @ , 8,000 each.
Less : Trade Discount @l 25%.
March 3 Sold to Hirn Bros. Pune, vide Cash Memo No. 125
15 BPL Mixture & Juicer @ ? 2,000 each.
Less: Trade Discount lal 10%,.
Mnrch4 Sold to Rabat Electronics, Vnimnesi, vide in.,oicc No. 126
8 Music System @ ~ 15,000 each.
10 ColourT. V. Sets@~ 2.2,000 each

19
. Less : Trade Discount@20%.
..
D 1stmgu1sh between P rov1S1ons and Reserves on the basis of: 3
a. Meaning
b. Object
c. Utilimtion for dividends.
OR
Explain the functions or Accounting. (any three)

20 Prepare accounting equation from the following : 3

a. Slatted business with cash'{ 2,00,000 and goods worth t !li!Jl.00.
b. Sold SD% of the above goods at a profit on 4,000 10 Raghunath.
c. Raghunath paid 90% of his 11111ount in final settlemenL

Give the journal entries corresponding to the narration given below:

DATE PARTICULARS L Amount Amount
F
2023 ~ ~
Aprl ...................... Ale Dr. ..........
To .................. A/c ..........
To .................. A/c ..........
( Goods fort 8,000 purchased at 20% trade
.
 ,------
discount and 5% cnsh discount)
.Apr8 ...................... Ne Dr. ..........
To .................. Nc _.."':••,,.1• ••
( Goods costing ( IJ,000 sold at a prolit of
33 1/3 % on cost)
Apr ...................... Ne Dr. ..........
10 To .................. No I t 10 t I I IO I f

( Goods costing"{ 4.000 lost by lire)

Apr ...................... Ne Dr. ..........
16 To .......·--······No ..........
( Pinnt purchnsed for { 1,00,009 nnd
installation charges paid t 2,000)

22 . Cash and Bank Co Iurnns.

Enter the following iransnctions inn Cash Book Wtth 6
2023 f
Feb.I Bank overdraft 12,000
Cash-in-hand 2,300
5 Purchased goods for~ 40,000; Trade discount I j%
6 Sold goods forl 30,000; Trade discount @ 10%
7 Cheque received lrom Apex Furnitures 4,000
Discount allowed 200
9 Cheque received from Anex. Fumjtwes deposited in bank
12 Cheque poid 10 Nime~h Bros. 2,SOO
Discount received so
lS Apex furnitures cheque dishnoun:ld
20 Money withdniwn from bank for office use 3,400
23 Fees of children paid by cheque lrom businen uccount 7S
er 25
27
Cheque received from Hcmcndro ond endorsed it 10 Sanjon11
Bank Charges
4,500
20
31 Paid into Bank the entire balance allcr retaining ~ 700 Dt office
0 23 From the following parhculars prepare a Bank Reconciliation Stotcment in the Books of 6 l~
~~ Nandan Traders as on 28th February 2023 :- .., . ~
i. Balnncc as per Pass Book on 2811, February 2023 ~ 6,000. )I. -1'" 'h},,}t"
ii. Out of total cheques amounting to l 37.500 drown by NandBn Traders, _jo'S)J..-/.
cheques aggregating, 5,000 were cocnshed in March 2023. ..,
iii. ,IIJOut of total cheques amounting to, 12,000 deposited, Cheques aggregating,
7,500 were credited in March 2023.
iv. fl-4+ Bank has allowed interest ~ 303 on his bank balunce.
v. ~ Amount wrongly debited by bank t 2.400. f')
vi. A cheque of~ 1,200 was entered in Cash Book in Febroary 2023, but was
sent lo bank In March 2023.
vii. A cheque oft 13,300 paid into bank was returned dishonored but no
intimlllion was received lrom tho bank till Pebroruy 2023.

24 Pass Journal entries to rectify the following errors:

(a) l 350 pald is cash for n typewriter wns chnrged to Office Expenses No.
..,._o.,o,
ACXX>UNTANCV-XI ,.,.'( ? "'
,., 6> ,1-1'1>
7 3301>
i, Jooo
6000
'-tsoo
I 'J.tl> 0
-\. :J0.3
-, o,}oJ
 (b) Ooods omounl<-d 10 f 660 S<Jld 111 Wilson, wm corrc<!11y cnltrcd rn Sales Book
bu1 posted 10 1\11,on'y Aocoun1 as t 160
(o) 7betollllsolcs forthcmonil,wcreovcn:a.<lbyt l,OCIO. ook d d
(d) Oood., wor1h 130 returned by Oh-. were cr,1.crcd fn Soles 13 • 11 l)O$tc
11u,,..,1ron, 10 lhec.n·.•,lil ofOim's ptl'!l011al account.
(c) Wngl:$ p<1ld for the construction of 001cc, dcbflcd 10 wnscs flCCO\lnt l IJ,000••
(f) f I0,00() paid to Ollrg Fumilurc Storo for t11c purohnse of furniture o, per their
Cash Memo were dcbilcd to 'l'umllurc' Ne.
25 Gn,cn Limited 1rnrchns<:<1 on I" April 2020 o plMI fort 80,000. On ,~ July, 2021, it 6
P""":,.ISC<l additional Prnn1 COMing ( 48,000. On I" Oc:ccrnhcr, 2022, 1ho plant purchnscd
on I Apn1, 2020 wns sold ofr for ~ 42.000 and on 1hc snmc dntc fresh plant was
purchased nl lhc COSI of~ 7S,000.
Oepr...-1111.ion is provided ot I0•/4 1,cr :innum on lhc Dlminbhing Bnlance Method
n·cry )C4r. Acc,oun1 are closed =h year on JI" March. Show U10 Pilant Account for
lh rtt)C4t$,

OR
The following b41anccs nppenr in the books of Zoo Ltd. As on 01-04-2022 :
Machinery Account t
Provision for Depreciation Account S.00,000
2.25,000
The mllChincry 1\11S dcprecintcd at IO¾ p.ll. on the Fixed Instalment Method: the
acooun1ing )'CM being April - March,
On 1.10.2022, a machinery which WA$ punilUISCd on 01.07.2019 for~ 1,00,000 wussold
fort 42,000 and on 1hc Sl!mc dnte n lrc:sh muchincry "as purchased for~ 2,00,000.
Pn:p:ll'C lhc M ncbl nuy Acco1111 1 and Provhion for Ocp rccinlion /1.ctnuot for the year
ended 2022-23.
PART-0
ll'I.NANCIAL ACCOUNTING- II
26 Toe com:ct sequence for preparnlion ofFio,al Accounts is: 1
I. Prq,;untion ofTrial Balance
2. Bahut<ling of Act0unts.
3. Prcpamlon of annual financial SU!tements.
4. Passing Adjusting Enuic:s.
Scleci the com:et ans~cr from the code gi\!en below;
I a. 4,2,1,3
c. 2,1,4,3
I
b. 2,4,3,l
d. 4,2,3,1

27 BallinCt: SIICCl s PrCf)ared Wt'lh 1hC bol anccs of Wh'ICtO

I fllIC: fi0II0 "ing· 1
'"
a. All balances in ledger b. Bn(MCCS of Personal Accounts
c. Balwiccs of Reul Accounts d. Balances of Personnl and Real
ACX!OURIS
\ I(
I of the r,0 lloWing WI·11 be trcn1a1
Wh'ch as ti mwingsof the proprictor ·
a. Income Tax b. Life lnsumncc Premium
c. Boin a & b a. Ncilhcr n nor I>

ACCOUNTANCY•XI 6

-1&,.
I O
 M11t1ohlll'·s Profit & Loss Acc:ount sh0\\S net profit on 1,76,000 before charging l
28 cocnmissi()CI 10 m:u13gcr. Provide for mnnager's commissk,n at 10'% on the net profit aller
chAr1;inS such commission. Nel profit nnd maongcl'll eommi.ulon is •••
I\. ~ 1.76,000 I . b. ~ .SH.400ancH 17.600
c. , 1.60.000 nod t 16,000 d. None of the nbove
OR
tndircc1 E.xpcnscs me U11nsfcmd 10
a. Tmding Acc:ount b. Profit & Loss Ne
c. Balance Sheet d. All o the a "c

29 Opening capital { 70.000; Profit for the yenr t 20,000; Omwings, 7,000. During lhe 1
year proprietor sold ornaments of her mother for { 22,000 and invested the samo in the
business. Clos Ing Ca pitn I is.••••.
n. { I .03.000 b. 0 ,05,000
c. t 1,09,000 d. t 75,000

30 State with a reason wbelhcr following arc cnpillll expenditure or revenue c:xpcndilure 3
i. Seoond-hnnd car wos purchased for , I ,35,000. t IS,000 were spent on ics
overhnullng.
ii. { 25.000 spent on whitewashing ofold fuclory building.
iii. t 22.SOO paid for lhc inslllllru:ion ofa new mndline.

31 Compute Operating Profit front the following: 3

Revenue from operntion (Soles) , 44,40,000
Cost of goods sold l -l0.00.000
Opening Stock f -1,40.000
Purch-=s l 40.00,000
Closing Stoel. t 4,40,000
ScJllng and dlstributlon expenses t 18,300
Office nnd Administrative expenses ~ 3.46,500 (including intcrcSt on loaos, 22,000:
Losson sale of furniture t 35.000; Donntion t S, IOO and Loss by fire t20,000)
32 Satendro SWtCd business on 1st April 2022 with oCupiml on 10,000. On I" July. 2022 4
he borrowed from his friend Dwarika a swn oft 4,000 @ 9o/o p.11. (Interest not yet paid)
for business and also introduced further c::spitnl or t 1,.500. On 31" Mnrch 2023, his
position was: Cash t 600; Stock t9,400; Debtors ~7,000 and Creditors"{ 6,000. Asocrtl1in
his Profit or Loss lllking into llCCOunt t 2,000 for his drawings during tho year.
33 The following bnlanecs appeared in the Trio I Balance of Kanpur Mobiles as at 31" Mmch 4
2023:
Sund!)' Debtors l: 3,05,000
£lad Debls t 5,000
Provision for bad debts { 20,000
The furn agreed to n:cord the following AdjustmentS in tho books of accountS. Further
Bad Debts l: 3,000: maintain provision for bad debts I Oo/o. Show the treatment of the
above adjustments in Profit&. Loss Acoount and in Bolnncc sheet as on 31" Mwcll
2023,
OR
Distinguish between Double Entry System nod Incomplete Records (Single Entry

7
 -
S~tcm) on the basis of:
11. Recording of aspects.
b. Trio.I Dalo.nee.
c. Suitability
d. Rclillbility.

34 Prepare Trading and Prollt & Loss Account for the year ended on 31" Mlll'Ch 2023 from
the following paniculnrs·
Trial Bnllll!CC
(As on 3111 Mnrch 2023)
Dr.~ Cr. l
Cashon hand 2,000
rCashat& nk 18,000
"Purchases o.nd Sales 2,20,000 3,50,000
r-Rctum inwnrds and Return outwnrds 6,000 7,500
-Carriage inwunls
.- "
. coutward s 4,400
2,100
;'ucl and Power 15,500
S(ock o.s on 01-04-2022 36,000
Bod debts· 6,200
Bad debts provision • 2.500
Debtors nnd Creditors 82.000 30,000
Capitnl
2.17.000
lnvestmcnlS 20,000
lru.crest on invcsuncn ts
2,000
Lonn from X@ 18% · 10,000
Repairs 1.5'20
Genernl Expenses . 10,600
Land llnd Building~ . 1,80.000
Wages and Salaries . 18,000
Sundry n:ccipts 120
Bills Payable 5,200
Stationery 2.000
6,'MJ20 6~J20
Additional infonna1lon:
L Closing stock is valued at~ 50,000.
b. Entire stationery was used by the proprietor for own purpose.
c. Wmo-ofn 2,000 as bad debts and provision for Doubtful Debts is 10 be
maintained Ill 5% on Debtors.
d. Loin from X wu liken on I" August 2022. No in:c:rcst has bcc:n paid so far.
o. Included In pncnl cxpcnscs is insurance premium ~ 1,200 paid for one yc:ir
aiding lot' Juno 2023.
t 113" ofWages and Salarla Is to be charged to Trading Account and balance 10
P/LA/c.
OR
Proplao Profit A Loa Acoounl 1111d Blllnco Sbcct u on 31" March 2023 from the:
ACCOUNTANCY-XI I
rollowing pa,ticulars:

Capital Or. t Cr. t

Building 3,20,000
Motor Bike 4,00,000
Gross Profit 40,000
Bad debts 2,83,000
3,000
Bad debts provision
7,000
Bnnk loan
S0,000
Interest on Bank loan 3,000
Commission 9,000
Motor Bike expenses 4,000
Salaries 44,000
Cash on hand 29,200
Debtors and Creditors 30,000 20,000
Income Tax 12,000
Income Tn.'C paid in advance 4,000
Interest on advance payment of income laX 200
Closing Stock 1,20,000
6,89,200 ~

Additional information:
a. Commission includes~ 3,000 received in advMce.
b. Salnries have been paid for 11 months.
c. Bank loan has been token ot I 0% p.n. interest.
d. Depreciate building by S% and Motorbike by 15%.
e. Write-off t 2,000 as bad debts and provision for Doubtful Debts is to be maintained at 5%
on Debtors.