je | n 2) = lant is} SAMPLE QUESTION PAPER 2 A Highly Simulated Sample Question Paper for CBSE Class Xl Examinations ACCOUNTANCY GENERAL INSTRUCTIONS 1 This question paper contains two parts Aand 8. . All que: ns in both the parts are compulsory. .. Marks for questions are indicated against each questions. . Answers should be brief and to the point. 2 3. All parts of questions should be attempted at one place. 4 5. TIME: 3 HOURS MAX. MARKS: Part A 1. The last step of accounting process is, (a) communicating (b) indentifying () summarising (@) interpreting result ,. Which of these is not a business transaction? (a) Bought furniture of 10,000 for business. (b) Paid for salaries of employees € 5,000. (c) Paid son's fees from her personal bank account & 20,000. {d) Paid son's fees from business € 2,000. 8. Identify the incorrect statement. (a) India has followed dual GST model, i.e. Central (GST) and State (GST). (b) Goods and services tax is a value added tax. (c) An integrated tax (GST) would be levied and collected by the centre on interstate supply of goods and services. (a) The list of exempted goods and services are different for the centre and the state. 4. Which source document is prepared by the seller for goods sold against cash? (a) Pay-in-slip _-(b) Receipt {c) Cash memo (a) Invoice 5. Which of the following accounts are related to expenses, losses, revenue, gain, etc like sal account? (a) Real (b) Nominal (c) Assets (c) Liabilities 6. During the year, Z had cash sales of € 1,95,000 and credit sales of ¢ 80,000. His expenses for year were & 1,35,000 out of which ¢ 40,000 are still to be paid. Find out 2's income foll accrual basis of accounting. (a) €1,00,000 (b) € 1,80,000 (c) € 1,40,000 (a) z 1,30,000 7, When there is return of goods in a journal, then a debit note is prepared and sent to sup! what type of journal is used for this purpose?sample Question Paper 2 439 ie Cone a jenmae (b) Purchase return journal “ ae (a) Cash purcnase journal 8. A cheque of ® 2,345 issued by Z was recorded in deposit column as @ 2,435. To ascertain the balance as cash book of Z. o (a) € 2,345 should be added to the balance as per pass book. (b) € 2,435 should be subtracted from the balance as per pass book. (0) 4,780 should be subtracted from the balance as per pass book. (d) ¥ 10 should be added to the balance as per pass book. 9. An asset was purchased ¥ 5,00,000, ¢ 5,000 were incurred for freight and transportation ¢ 20,000 spent on installation expenses and commission paid on purchase to agent 5% of cost of asset. Pass the necessary journal entry. 2 (a)Cash A/c Dr 5,50,000 To Asset A/c 5,50,000 (b) Asset Ave Dr 5,50,000 To Purchases A/c 5,50,000 (c) Asset Ave Dr 5,50,000 To Cash Alc 5,50,000 (d) Purchases A/c Dr 5,50,000 To Asset A/c 5,50,000 10. What will be the journal entry to record transfer of asset sold to a asset disposal account? — (1) {a) Asset A/c Dr (b) Asset Disposal fe Dr To Asset Disposal A/c To Cash A/c (c) Cash A/c Dr (d) Asset Disposal A/c = Dr 10 Asset Disposal A/c To Asset A/c 11. When discount is allowed to customers for making prompt payment, it is called - discount. @ 12... is an example of source documents which is used by the purchaser for returning the @ purchased goods. 18. Do you think that a transaction can break the accounting equation? a 14. State the advantages offered by accrual basis of accounting. @) Or Give any three points of difference between book-keeping and accounting. 16. Record the following transactions during the week ending 30th December, 2019 with a weekly imprest of ® 500. @ Date Particulars aay ‘Deo 24 | Stationery ro Dec 25 | Bus fare i Dec 25 | Cartage i Dec 26 | Taxi fare ig Dec 27 | Wages to casual labour oo Dec 29 | Postage pear eee Net e0s jtiation statement of Shri Subhash Bhalla as on 31st December, 2019. « cheque for €550 was recorded twice in the pass book. the pass book was undercast by % 200, 16, Prepare bank reconc! (i The payment of a (ii) Withdrawal column o!490 | Allinxone| ACCOUNTANCY Class 111} (iii) A cheque of % 200 has been debited in the bank column of the cash book but it was not sent t bank at all. (iv) Interest on bank overdraft % 300 charged by the bank. (v) % 500 in respect of dishonoured bill were entered in the pass book but not in the cash book, (vi) Overdraft as per pass book is ¥ 20,000, 17. “IFRS are very useful for multinational or global business enterprises." In the light of thi statement, give any four such benefits of IFRS. @ Or When should revenue be recognised as per revenue recognition principle? Are there exceptio to the general rule? 18. In taking out a trial balance, a book-keeper finds that debit total exceeds the credit total by %7,040. The amount is placed to the credit of a newly opened suspense account. Subsequenth the following mistakes were discovered. You are required to pass the necessary entries { rectifying the mistakes and show the suspense account. . @ (i) Sales day book was overcast by & 2,000. {ii) A sale of & 1,000 to Gokul Prasad was wrongly debited to Kanti Prasad. (iii) General expenses % 360 was posted as & 1,600. (iv) Cash received from Shanti Prasad was debited to his account % 3,000. (v) While carrying forward the total of one page of the purchase book to the next, the amount of % 24,700 was entered as % 26,500. 19. Pass the journal entries for the following transactions 3) (i) Purchased goods from Sangeet of ? 80,000; plus SGST 6% and CGST 6%. (ii) Hemant who owed to Manu ¥ 10,000 is declared insolvent and 55 paise in a rupee is receiv from his estate. i) Sold goods to Amitoj at the list price of & 75,000 less 20% trade discount; plus SGST 6% and CGS’ 6%, (iv) Purchased machinery from Atul for ¥ 40,000 and paid him by means of bank draft purchased fro bank for % 40,040. 20. Tata Ltd purchased a machinery on 1st April, 2017 for % 1,20,000. It bought another machiner ‘on Ast July, 2018 for ¢ 80,000. On 1st January, 2020, machinery bought on 1st April, 2017 we sold for ¥ 80,000 and a fresh plant was purchased on the same date for % 60,000. Depreciation i charged at 10% p.a. on diminishing balance method. Show the machinery account for 3 yea assuming that accounts are closed on 31st March each year, ®) Or MJ Ltd purchased a second hand plant for % 1,80,000 and spent % 20,000 on its installation an freight on 1st July, 2016. Depreciation was provided @ 10% p.a. on reducing balance metho ‘On 31st December, 2018, 1/5th of the plant was damaged due to fire and scrap was sold for % 10,000. It was decided to buy a new plant for % 60,000 on 1st January, 2019. Prepare plant account for 3 years assuming that books were closed on 31st March every year. 21, Write a two-column cash book with cash and bank columns from the following transactions ané post them into ledger. Also pass necessary journal entries related to discount allowed discount received. 2022 Mari Cash inhand %30,000 Mar3 Purchased goods for cash € 12,000 Mar5 Deposited in bank 10,000 (sample Question Paper 2 ani Mar8 Cash sales 20,000 a 10 Cash withdrew from bank for office use € 4,000 ar 12 Received cash from Daksh ® 6,000 and allowed him discount of € 200 Mar 15 Received cheque from Kanika ¥ 4,000 and deposited in the bank on the same day, allowed her discount ® 150 Mar 18 Received cheque from Sakshi for % 10,000 (not banked) Mar 19 Cheque received from Sakshi deposited in the bank Mar24 Paid to Simran by cheque € 5,000, she allowed discount €250 Mar 27 Withdrew from bank for personal use € 3,000 Mar28 Sold goods on credit to Deeksha % 8,000 Mar 30 Purchased goods on credit from Simran % 10,000 Mar 31 —_ Received cheque from Deeksha ¥ 4,000 and deposited in the bank Mar31 —_ Bank charges for the month 200 Or Following is the trial balance of Raj Nayak as on 31st March, 2016. Name of Accounts Fao | aaa) sete 6,40,000 Fixed Assets a Drawings aa Debtors rae Creditors oe Purchases +14,20,000| sales 21,00,000 Bank Balance 90,000) Cash in Hand tooo Salaries ‘iSanod Rent 2,40,000| Total 31,00,000| |_31,00,000, Having prepared the trial balance, it was discovered that following transactions remained unrecorded ; (i) Goods were sold on credit amounting to % 80,000. 44,000 by cheque. (ii) Paid to creditors © ; 00 were returned to a supplier. (iii) Goods worth € 14,01 (iv) Paid salary 30,000 by cheque. ee Jbove mentioned transactions and post them into ledger. (i) Pass journal entries for the abov ie (ii) Redratt the trial balance:492 | Allnone | ACCOUNTANCY Class 11 . Part B 22. Which of the following is correct? (a) Net sales = Cash sales + Credit sales — Sales return (b) Net sales = Cash sales + Credit sales + Sales return (c) Net sales = Total sales ~ Credit sales (a) Net sales = Sales + Credit sales 23. In which of the following cases, closing stock will not be shown in the trading account? (a) When valuation of closing stock is on FIFO method (b) When closing stock is not ascertained accurately (c) When closing stock is adjusted in the purchases (d) When it is appearing outside the trial balance 24. Consider the following statement. I, Balance sheet contains only the balances of personal and real accounts. IL, Assets side of balance sheet is always equal to capital side. III. Drawings are not shown in the balance sheet as it is a personal expense of the owner. Choose the correct option. (a) Allare correct (b) All are incorrect () Only Tis correct (d) Only II and II1 is corre 25. Find out the closing stock from the following Opening Stock = € 20,000, Sales = % 1,00,000, Purchases =¥ 70,000, Rate of gross profit on cost =335% (a) ¥ 20,000 (b) 35,000 (o) @ 15,000 (a) 7 45,000 26. Extract of Trial Balance ason 3st March, 2020 Name of Accounts, Debit Balance (%) | Credit Balance @) Bad Debt 3,000) Provision for Bad Debts 3,500 Debtors 40,000 It is desired to maintain a provision for doubtful debts @ 10% on debtors. The amount debited t profit and loss account is (a) % 4,000 (b) % 5,000 (c) % 6,500 (a) 7 3,500 27. Liability which is payable on the happening of an eventis ........ 28, Name any two items that are credited to trading account? 29. Calculate closing stock from the following details Opening stock 20,000 Cash sales 60,000 Purchases 70,000 Credit sales 40,000 Rate of ross proft on cost 33% Or Calculate opening stock from the following details Closing stock 20,000 Cash sales 60,000 Net purchases 70,000 Net credit sales 40,000 Return outward = 5,000 Retum inward = 7,000 Rate of gross profit on cost 333%.Sample Question Paper 2 30. State the objecti jectives of inanci: Preparing financial statements. & Or Differentiate ok ae between a balance sheet and trial balance. - followii + e ing Uial balance is extracted from the books of a Rama Enterprises on 31st Decemeber, 2019 @ : 2 Particulars | ree Furniture aa Vehiclos = | Buildings wn : Capital “= Bad debts Provision for doubtful debts ‘Sundry debtors and creditors Stock on 1st January, 2019 Purchases and sales Bank overdiratt Sales and purchases returns Advertising Interest on bank overdralt Commission Cash ‘Taxes and insurance General expenses Salaries The following adjustments are to be made (i) Stock in hand on 31st December, 2019 was ® 32,500. (ii) Depreciate buildings at the rate of 5%, furniture and fittings at the rate of 10% and motor vehicles at the rate of 20%. £850 is due for interest on bank overdraft, d taxes ¢ 1,200 are outstanding. (i (iv) Salaries ¢ 3,000 an‘ mounting to € 1,000 is prepaid. (v) Insurance ai on received is in respect of work to be done next year. (vi) qa of the commissi further sum of % 1,000 as bad debts ai ndry debtors. for the year ending 31st December, 2019. prepare a trading and profit and loss account 92. seevaances have been extracted from the trial balance of M/s Runway Shine Ltd. ‘The following Grofit and loss account and a balance sheet a5 0m 31st December, 2019. © Prepare a trading and F Ware pesos —_+ amt) Name of Acoous| Lame 1,60,000] Sales 250,000 Purchases 50,000} Return outwards | ‘Opening stock 2,000} Interest received | Return inwards 4,500| Discount received | Carriage inwards oe _Cash-in-hand ___— nd provision for doubtful debts is to be made (vii) Write-off a equal to 10% on st494 | Allznone | ACCOUNTANCY Class 11 24. 22. 29. at. 32. Name of Accounts ‘Amt @ | ‘Name of Accounts ‘Cash-at-bank 60,800] Bils payable Wages 2,400} Capital Printing and stationery 4500 Discount 400) Bad debis 1500] Insurance 2,500 Investment 32,000) 5 Debtors 53,000) Bills receivable 20,000 Postage and telegraph 400 Commission 200 Intorest 1,000) Repair 440 Lighting charges 500 Tolephone charges 109] Carriage outwards 400] Motor car 25,000 | a.89,440 Additional Information (i) Further bad debts ¥ 1,000, Discount on debtors ¢ 500 and make a provision on debtors @ 5%. (ii) Interest received on investment @ 5%. (ii) Wages and interest outstanding ¥ 100 and & 200 respectively. (iv) Depreciation charged on motor car @ 5% p.a. (v) Closing stock % 32,500. Answers @) 20 3. () “4. © 5. (b) 6 () 7 () © 2. (©) 10. (d) 14. trade 12, Debit note Balance of petty cash book = % 98 Credit balance as per cash book = & 18,650 Balance of machinery account 2017-18 = ¥ 1,08,000; 2018-19 =€ 1,71,200; 2019-20 € 1,25,100 Loss on sale of machinery =€ 9,910 Or Balance of plant account 2016-17 = 1,85,000; 2017-18 = €1,66,500 Loss on sale of plant = € 20,802 4 2018-19 =F 1,78,380 Cash Balance = € 38,000; BankBalance = 715,600 Or ‘Trial Balance Total = € 31,36,000 @ 23. © 24. ©) 25. (©) 26. @) 27. contingent liabilities Closing stock = 15,000 Or Opening stock = € 25.000 Net profit = 15,510 Net profit = & 66,010; Total of balance sheet 2,97,350