Dr GR PUBLIC SCHOOL, NEYYATTINKARA

ANNUAL EXAM 2020-21

ACCOUNTANCY –XI
MAX. TIME : 3 HRS. MAX. MARKS : 80
General Instructions:
 Questions from 1-20 carry one mark
 Questions 21&22 carry 3 mark
 Questions from 23-27 carry 4 marks
 Questions from 28-30 carry 6 marks
 Questions 31 & 32 carry 8 mark
1. “The decision-makers must interpret accounting information in the same sense as it is
prepared and conveyed to them.” Which qualitative characteristic of accounting
information is highlighted here?
2. Choose the correct answer from the following;
Seema Furniture House returned tables and chairs worth Rs. 1,10,000 to Mahesh
Furniture Mart. Where would you record this transaction?
a) Journal proper c) Return outward book
b) Return Inward book d) Cash book
3. Nominal Accounts are related to _________.
4. Which entry is passed in Drawee’s Books when the bill is discounted with bank?
(a) Bills Payable A/c …Dr.
To Bank A/c
(b) Bills Payable A/c …Dr.
To Drawer’s A/c
(c) Drawer’s A/c …Dr.
To Bills Payable A/c
(d) No entry is recorded
5. Each transaction has double effect of equal amounts on both the side of account, is based
on:
(a) Business entity concept (c) Periodicity concept
(b) Dual aspect concept (d) Cost concept
6. Financial Accounting, Management Accounting and Cost Accounting are ______ of
Accounting.
(a) Sources
 (b) Branches
(c) Principles
(d) Policies
7. Opening capital is ascertained by preparing :
(a) Total debtors account (b) Total creditors account
(c) Cash account (d) Opening statement of affairs
8. Credit purchase, during the year is ascertained by preparing :
(a) Total creditors account (b) Total debtors account
(c) Cash account (d) Opening statement of affairs
9. Outstanding wages will be adjusted …………… account
10. Purchase of Machinery against cheque is debited to:
(a) Machinery Account (c) Equipment Account
(b) Goods Account (d) Cash Account
11. Sales will have _____ balance.
12. Cash purchase of raw material is recorded in
(a) Purchase Day Book (c) Directly in Purchase A/c
(b) Cash Book (d) All the above
13. Ledger Account is prepared from
(a) Events (c) Journal
(b) Transactions (d) Capital
14. Every account has ______ sides.
15. Which is the last step of accounting as a process of information?
(a) Recording economic events in the books of account.
(b) Preparation of financial statements.
(c) Communication of information.
(d) Analysis and interpretation of information.
16. Identified and measured economic events should be recorded in _______ order.
17. Goods taken by the owner for personal use are called _______.
18. A Journal is known as a book of ______entry.
19. The objective of providing depreciation is to
(a) Show correct profit for the year
(b) Show the true financial position in the balance sheet
 (c) Reduce tax burden
(d) Comply with legal requirements
20. The statement which helps to check the arithmetical accuracy of ledger is ………
21. From the following particulars of Mr. Vinod, prepare bank reconciliation statement as
on March 31, 2005.
• Bank balance as per cash book Rs. 50,000.
• Cheques issued but not presented for payment Rs. 6,000.
• The bank had directly collected dividend of Rs. 8,000 and credited to bank
account but was not entered in the cash book.
• Bank charges of Rs. 400 were not entered in the cash book.
• A cheques for Rs. 6,000 was deposited but not collected by the bank.
OR
From the following particulars of Anil & Co. prepare a bank reconciliation statement
as on August 31, 2005.
Balance as per the cash book Rs. 54,000.
•
• Rs. 100 bank incidental charges debited to Anil & Co. account, which is not
recorded in cash book.
• Cheques for Rs. 5,400 is deposited in the bank but not yet collected by the bank.
• A cheque for Rs. 20,000 is issued by Anil & Co. not presented for payment.
22. Prepare Accounting Equation from the following:
(₹)
(a) Kunal started business with cash 2,50,000
(b) He purchased furniture for cash 35,000
(c) He paid commission 2,000
(d) He purchased goods on credit 40,000
(e) He sold goods (Costing ₹ 20,000) for cash 26,000
23. “Financial accounting assists keeping a systematic record of financial transactions the
preparation and presentation of financial reports in order to arrive at a measure of
organisational success and financial soundness”. By keeping in view explain the uses
of other branches of Accounting.

24. Enter the following transactions in M/s Mukerjee & Bros. Single Column Cash
Book:
2017 (₹)
April 1 Balance of Cash in hand 50,000
3 Purchased goods for cash 22,000
7 Purchased goods 15,000
10 Purchased goods from Gopi 30,000
13 Purchased goods from Gopi for cash 10,000
15 Sold goods 20,000
18 Sold goods to Vishwakarma 45,000
 20 Sold goods to Raghunandan for cash 18,000
25 Received commission 5,000
30 Paid Rent 10,000
25. Prepare the purchase book of M/s Shiv Stationers from the following:

2010
June 1 Purchased from Gagan Stationery Mart on credit
(i) 70 dozens pencils @ ₹ 25 per dozen.
(ii) 10 dozens registers @ ₹ 15 per register.
June 10 Purchased from Amrit Furniture
2 Tables @ ₹ 1,500 per table.
June 15 Purchased 3 dozens ink pots @ ₹ 80 per dozen from Mehar
Paper Co. and received cash discount of ₹ 50.
June 18 Purchased from Rehman Bros. on credit
(i) 5 reams of white paper @ ₹ 50 per ream
(ii) 120 pens @ ₹ 60 per dozen.
Less trade discount of 10%

OR

Enter the following transactions in the Sales Book of M/s Sri Ram & Sons, Kolkata:−
2017
Jan 5 Sold to Ramesh Stationery House, Kolkata :−
50 Dozen Pencils @ ₹ 20 per doz.
20 Dozen Pens @ ₹ 5 per Pen
Trade Discount 10%
8 Sold to Gupta Stationery Shop, Kanpur :−
10 Dozen Note Books @ ₹ 60 per doz.
15 Gross Rubbers @ ₹ 10 per doz.
20 Sold old newspapers for ₹ 150
24 Sold to Modern Stationery House, Lucknow for Cash :−
25 Dozen Pencils @ ₹ 22 per doz.
28 Sold to Ali Mohammad & Sons, Allahabad :−
10 Reams of Paper @ ₹ 80 per Ream
Discount 15%
31 Sold old furniture to Kedar Nath & Co., Allahabad on credit ₹2,200

26. Prepare a Trial Balance from the following balances taken as at 31st March 2017 :−

(₹) (₹)
Capital 2,50,000 Purchases 2,15,300
Drawings 24,000 Sales 3,80,000
Debtors 57,000 Miscellaneous Expenses 8,200
 Creditors 28,500 Miscellaneous Receipts 3,600
Land & Building 1,80,000 Bad Debts 7,100
Plant 1,20,000 Bills Receivable 5,000
Stock on 1-4-2016 22,800 Loan from X 20,000
Factory Expenses 16,600 Interest on X's Loan 3,000
Office Expenses 7,700 Cash in hand 8,400
Purchases Return 6,000 Goodwill 10,000
Stationery 500
Freight 2,500

27. On 1st April, 2015, a limited company purchased a Machine for ₹ 1,90,000 and spent
₹ 10,000 on its installation. At the date of purchase, it was estimated that the scrap
value of the machine would be ₹ 50,000 at the end of sixth year. Give Machine Account
in the books of the Company for 4 years after providing depreciation by Fixed
Instalment Method. The books are closed on 31st March every year.
28. Write up Cash Book of Bhanu Partap with Cash and Bank Columns from the following
transactions:−

2017 (₹)
March Cash-in-hand 2,710
1
Cash at Bank 27,500
3 Received from Subhash 3,500
4 Sold goods for cash 10,000
7 Paid Rent by Cheque 800
8 Paid Sohan by cheque 3,000
10 Bought goods for cash 15,000
12 Paid cash for stationery 200
Drew from Bank for office use 8,000
15 Received cheque from Surendra and sent it to Bank 6,600
16 Paid for advertisement 750
18 Issued cheque in favour of Nath Brothers 4,300
19 Cash Sales 13,000
Paid into Bank 16,000
20 Received cheque from Vinod and sent it to Bank 2,400
22 Bought Scooter and paid for the same by cheque 18,000
25 Bank returned Surendra's cheque dishonoured
28 Paid salary by cheque 7,200
Paid Trade expenses 2,000
29 Cash sales 9,500
30 Paid into Bank 10,000
29. On 1st January, 2019, Ajay sold goods to Bhushan for ₹ 50,000. Ajay draws a bill of
exchange for two months for the amount due which Bhushan accepts and returns it to
Ajay. Bhushan met the bill on the due date. Pass Journal entries in the books of Ajay
and Bhushan.
30. Tulsi started business on 1st April, 2016 with a capital of ₹ 4,50,000. On 31st March,
2017 her position was as under:

(₹)
Cash 99,000
Bills Receivable 75,000
Stock 48,000
Land and Building 1,80,000
Furniture 50,000

She owed ₹ 45,000 to her friend Parvati on that date. She withdrew ₹ 8,000 per month
for household purposes. Ascertain her profit or loss for the year ended 31st March,
2017.
OR
Krishan started his business on 1st April, 2017 with a Capital of ₹ 1,00,000. On 31st
March, 2018, his assets were :
₹
Cash 3,200
Stock 34,800
Debtors 31,000
Plant 85,000
He owed ₹ 12,000 to sundry creditors and ₹ 10,000 to his brother on that date. He
withdrew ₹ 2,000 per month for the private expenses. Ascertain his profit.
31. Following is the Trial Balance of Sh. Damodar Parshad as at 31st March, 2016:-

Dr. Balances (₹) Cr. Balances (₹)

Stock 1-4-2015 10,000 Discount Received 750

Purchases 58,000 Return Outwards 2,600

Wages 4,700 Sales 98,650
Returns Inwards 3,520 B/P 3,000
Carriage on 2,360 Sundry Creditors 5,600
Purchases
Carriage on Sales 710 Creditors for Rent 500
Office Salaries 4,800 Capital 40,000
Rent and Taxes 2,400 Loan from X 10,000
Cash 1,100 Commission 1,200
Bank Balance 7,820
Bad-debts 600
Discount allowed 640
Land and Building 20,000
Scooter 6,600
Scooter Repairs 850
B/R 3,500
Commission 1,800
Sundry Debtors 25,400
Interest on X's Loan 1,500
Drawings 6,000
1,62,300 1,62,300

Prepare a Trading and Profit and Loss Account for the year ended on 31-3-2016 and
the Balance Sheet as at that date. The Stock on 31st March, 2016 was ₹ 22,000.

OR

Prepare Trading and Profit & Loss Account for the year ended 31st March, 2017 and
Balance Sheet as at that date from the following Trial Balance:-
Dr. Cr.
(₹) (₹)
Capital 10,000
Cash 1,500
Bank Overdraft 2,000
Purchases and Sales 12,000 15,000
Returns 1,000 2,000
Establishment Expenses 2,200
Taxes and Insurance 500
 Bad-debts and Bad-debt
500 700
Provision
Debtors and Creditors 5,000 2,000
Commission 500
Deposits 4,000
Opening Stock 3,000
Drawings 1,400
Furniture 600
B/R and B/P 3,000 2,500
34,700 34,700

Adjustments:-
1. Salaries ₹ 100 and taxes ₹ 200 are outstanding but insurance ₹ 50 is prepaid.
2. Commission ₹ 100 is received in advance for next year.
3. Interest ₹ 210 is to be received on Deposits and Interest on Bank overdraft ₹ 300 is
to be paid.
4. Bad-debts provision is to be maintained at ₹ 1,000 on Debtors.
5. Depreciate furniture by 10%.
6. Stock on 31st March, 2017 was valued at ₹ 4,500

32. Enter the following Transactions in the Journal of Mudit :

2017 Rs
Jan.01 Commenced business with cash 1,75,000
Jan.01 Building 1,00,000
Jan.02 Goods purchased for cash 75,000
Jan.03 Sold goods to Ramesh 30,000
Jan.04 Paid wages 500
Jan.06 Sold goods for cash 10,000
Jan.10 Paid for trade expenses 700
Jan.12 Cash received from Ramesh 29,500
Discount allowed 500
Jan.14 Goods purchased for Sudhir 27,000
Jan.18 Cartage paid 1,000
 Jan.20 Drew cash for personal use 5,000
Jan.22 Goods use for house hold 2,000
Jan.25 Cash paid to Sudhir 26,700
Discount allowed 300
OR

Journalise the following transactions:

2017 Rs
Dec. Hema started business with cash 1,00,000
01
Dec. Open a bank account with SBI 30,000
02
Dec. Purchased goods from Ashu 20,000
04
Dec.06 Sold goods to Rahul for cash 15,000
Dec.10 Bought goods from Tara for cash 40,000
Dec.13 Sold goods to Suman 20,000
Dec.16 Received cheque from Suman 19,500
Discount allowed 500
Dec.20 Cheque given to Ashu on account 10,000
Dec.22 Rent paid by cheque 2,000
Dec.23 Deposited into bank 16,000
Dec.25 Machine purchased from Parigya 10,000
Dec.26 Trade expenses 2,000
Dec.28 Cheque issued to Parigya 10,000
Dec.29 Paid telephone expenses by cheque 1,200
Dec.31 Paid salary