Roll No.

_________________ Code : 112015-055-A

Please check that this question

paper contains 24 questions and 8
printed pages.

CLASS-XI
ACCOUNTANCY
Time Allowed: 3 Hrs. Maximum Marks : 90
General Instructions :
1. Question paper is divided into two parts. Part-A carrying 50 marks and Part-B
carrying 40 marks.
2. Both the parts are compulsory.
3. All parts of the questions should be attempted at one place.
4. Make formats neatly. Avoid cutting & overwriting.
5. Give working notes, wherever necessary.

Part-A
1. Point out the primary two objective of accounting. (1)
2. “Revenue is generally realized at the time of sale.” Which accounting principle is
involved in this situation ? (1)
3. Give one transaction which will decrease the liabilities and increase the capital. (1)
4. What is the meaning of noting charges ? (1)
5. Why is provision for doubtful debts created ? (1)
6. What do you understand by ledger folio ? (1)
7. Place the following ledger balances in the appropriate column of the trial balance (3)
Rent A/c 20,000
Returns Outward A/c 5,000
Drawings A/c 7,000
Discount A/c (cr) 500
Leasehold Premises 9,00,000
Charity 900
8. Give the meaning of the following : (3)
(a) Net worth
(b) Closing stock
(c) Deferred revenue expenditure

A 1
9. “Accounting information should be comparable.” Do you agree with this statement ?
Give two reasons. (3)

10. “Mr. A had been doing the business of manufacturing toys since 2008. During the
year 2013, a likely loss of 50,000 on account of bad and doubtful debts was foreseen
in the business. A likely gain of ` 25,000 on account of getting discount on creditors
was expected to be received. Mr. A ignored the loss due to bad debts and considered
the gain due to discount on creditors while preparing final accounts. Which
accounting concept will it violate ? Explain the concept. (3)

11. Explain in brief any four advantages of IFRS adoption. (4)

12. On 31.3.2014 the Bank passbook of DAV Pharmacy, showed a debit of ` 9,000. A
comparison of entries in the pass book with those in the cash book revealed the
following :
(i) Cheques for ` 15,000 deposited with the bank on 29.3.14 were not credited by
the bank before 1.4.14.
(ii) ` 7,000 withdrawn from the bank for office use were entered in cash bank as
` 9,000.
(iii) Debit side total of the bank column of the cash book was carried forward as `
1,13,900 instead of ` 1,31,900.
(iv) Cheques were issued for ` 17,700 on 28.3.14 out of which cheques for ` 7,700
were presented to the bank for payment after 31.3.2014.
Prepare Bank Reconciliation Statement. (4)

13. (a) Pass necessary journal entries in the books of Mr. Dewan for the following
transactions : (3+3=6)
(i) Bricks worth ` 1,00,000 purchased for the construction of building.
(ii) ` 1,800 was stolen from the safe vault of the firm.
(iii) Paid cash to Mrs. Dewan on behalf of Mr. Dewan ` 1,980.
(iv) Purchased houses for cash 96,500.
(v) Paid for carriage outward ` 1,500
(vi) Provide interest on drawing ` 20,000 @ 6½% for six months.

A 2
 (b) Prepare purchase book from the following particulars relating to M/s Anuj
Stationers :
2014
Dec. 4 Purchase from M/s Satish Bros as per invoice no. 1,870
5 calculators @ ` 235 each
25 Boxes of pencils @ ` 80 per box
Dec. 12 Bought from M/s Ashoka Stores, Delhi for cash as per Invoice no. 281
40 registers @ ` 200 per 10 registers
Dec. 23 Purchased from M/s Gayatri Chawri Bazar Delhi as per invoice no. 784
20 file covers @ ` 50 each
Dec. 29 M/s Malik Book Dept sold as per invoice no. 979
15 dozen reynold pens @ ` 125 per dozen less 2% trade discount
Dec. 31 Bought of M/s AG Stationers as per invoice no. 798
25 boxes of erasers @ ` 45 each box
10 fancy papers @ ` 8 each
Less 2½% trade discount
Dec. 31 Purchased from S. Chand & Company Delhi
5 Accountancy books of Class XI @ 300 each
15 Business Studies books class XII @ 270 each

14. A partnership firm purchased a machine on Apr. 1, 2011 for ` 3,00,000. On June
30, 2013 a part of machine costing ` 20,000 was sold for ` 11,800, and a new
machine costing ` 40,000 was purchased on 1st July 2013. Firm was charging
depreciation @ 10% p.a. on straight line method. Show machine A/C, Provision for
Depreciation A/c and Machine Disposal A/c for three accounting years ending 31st
March, 2014. (6)

15. Ajay purchased goods from Vijay for ` 2,000 on 1st Jan. 2014. He accepted a bill
of exchange for the amount at 2 months drawn on him by Vijay on the same day.
On 4th Jan. 2014 Vijay got the bill discounted with this bankers @ 18% p.a. At
maturity the bill was dishonoured noting charges amounting to ` 15. However
Vijay agreed to received a sum of ` 575 from Ajay in cash & two promissory notes
one at one month for ` 500 and the other at 3 months for ` 1,000 in full settlement.
The first promissory note was duly honoured but the second bill was dishonoured
due to Ajay’s insolvency. Vijay could recover 30% of the amount due from him on
7th June 2014. Show journal entries in the books of Vijay. (6)

A 3
16. Rectify the following errors and also show suspense A/c. (6)
(i) Goods sold to Mohan for ` 3,700 was wrongly passed through purchases book
but correctly posted to the debit side of Mohan’s Account.
(ii) A dishonoured bill receivable for ` 2,000 returned by the bank had been credited
to bank A/c and debited to B/R A/c.
(iii) ` 600 owing by a customer had been omitted from the schedule of sundry
debtors.
(iv) Sundry items of a plant sold for ` 2,600 had been entered in the sales book.
(v) A sale of ` 480 to Ramesh was entered in the sale Books as ` 840.
Part-B
17. Ascertain the value of closing stock from the following : (3)
Opening stock ` 1,20,000
Purchases ` 9,30,000
Gross sales ` 16,00,000
Returns inward ` 40,000
Rate of gross profit 40% on sales

18. (i) Why are adjustments for depreciation and loss on sale of fixed asset shown in
Income & Expenditure A/c ? (1)
(ii) Child right activist Kailash Satyarthi of India was awarded the Nobel Peace
Prize. Identify any two values of his organization Bachpan Bachao Andolan
(BBA) ? (2)

19. Ramesh keeps his books by single entry method. His position on 31st March 2013
was as follows :
Cash in hand ` 200, Cash at bank ` 3,000, Stock ` 20,000, Sundry debtors ` 8,500,
Furniture ` 1,800, Plant ` 15,000, Sundry creditors ` 22,000.
During the year 2013-14 he introduced ` 5,000 as further capital in the business
& withdrew ` 750 per month.
On 31st March 2014 his position was as follows :
Cash in hand ` 300, Cash at bank ` 2,000, Sundry debtors ` 14,000, Stock ` 19,000,
Plant ` 27,000, Furniture ` 1,500 & Sundry creditors ` 29,000.
Prepare a statement of showing profit or loss made by him for the year ended 31st
March, 2014. (4)

20. Disinguish between manual accounting and computerized accounting (any four).(4)

A 4
21. Show how will you deal with the following information while preparing financial
statements of W.S. cricket club for the ending 31st March 2014 : (4)
Donation received for construction of pavilion ` 15,90,000
Expenditure on construction of pavilion (not yet completed) ` 10,90,000
Subscription for pavilion ` 50,000
Pavilion fund as on 1.4.2013 ` 6,00,000

22. (a) Income tax department has computerized filing of Income tax return. What
values (any two) have been added by the department to the society ? (2)
(b) Critically analyse “Ready to Use” accounting software. (4)

23. The following is the trial balance of Mr. S. Kapur on 31st March 2014 : (8)
Name of Accounts Debit Credit
(`) (`)
Cash in Hand 1,080
Cash in bank 5,260
Purchases 81,350
Sales account 1,97,560
Returns inward 1,360
Return outwards 1,000
Wages 20,960
Fuel and power 9,460
Carriage on sales 6,400
Carriage on purchases 4,080
Stock (1-4-2013) 11,520
Buildings 60,000
Freehold land 20,000
Machinery 40,000
Salaries 30,000
Patents 15,000
General expenses 6,000
Insurance 1,200
Capital 1,42,000
Drawings 10,490
Sundry debtors 29,000
Sundry creditors 12,600
3,53,160 3,53,160

A 5
 Taking into account the following adjustments. Prepare Financial statements :
(1) Closing stock is 13,600
(2) Machinery is to be depreciated @ 10% and patents @ 20%
(3) Unpaid salaries for the month of March, 2014 is 3,000
(4) Insurance includes a premium of 170 for the next year
(5) Wages include a sum of 4,000, spent on erection of cycle shed for employees
(6) A provision for doubtful debts is to be created to the extent of 5% on debtors.
OR
The trial balance of Mr. X as on 31st March, 2014 was as follows :
Name of Accounts Debit (`) Credit (`)
Purchases 1,62,505
Sales 2,52,400
Reserve for Doubtful debts 5,200
Sundry Debtors 50,200
Sundry Creditors 30,526
Bills Payable 3,950
Opening Stock 26,725
Wages 23,137
Salaries 5,575
Furniture 7,250
Postage 4,226
Power and Fuel 1,350
Trade expenses 5,831
Bad Debts 525
Loan to Ram @10% (Dec. 1, 2013) 3,000
Cash in hand and at Bank 10,000
Trade Expenses accrued, not paid 700
Drawings A/c 4,452
Capital A/c 10,000
Outstanding wages 2,000
3,04,776 3,04,776

A 6
 Prepare trading and profit and loss account for the year ending March 31, 2014 and
the Balance Sheet as on that date after taking into consideration the following
information :

(i) Depreciation on furniture is to be charged @ 10%

(ii) Sundry debetors include on item of ` 500 due from a customer who has become
insolvent.
(iii) Reserve for bad debts is to be maintained @ ` 5% on sundry debtors
(iv) Stock on 31st Dec., 2012 was ` 12,550.

24. From the following receipts and payments account of a club and from the information
supplied, prepare an Income and Expenditure Account for the year ended 31st
March, 2014 and a Balance Sheet as on that date : (8)

Dr. Receipts and Payments Account Dr.

To Balance b/d 2,300 By Salaries 4,500

To Subscriptions 6,000 By Office Expenses 1,500

To rent of the hall 2,000 By Sports Equipment 1,000

To Sale of grass 200 By Machine 2,000

To Sale of old 100 By 6% Investments 1,000

furniture (Book value 200)

By Balance c/d 600

10,600 10,600

Other Information :
Subscriptions received included ` 1,000 for 2012-13 and ` 500for 2014-15.
Outstanding subscriptions for 2013-14 amounted to ` 800. Sports equipment on
hand on 31st March, 2013 was of ` 3,000. The value placed on this equipment on
hand on 31st March 2014 was ` 3,100. The machine was purchased on 1st Oct. 2013
and is to be depreciated at 20% per annum. Salaries ` 200 for 2013-14 are yet to
be paid. Interest on investments is accrued of 6 months. On 1st Apr., 2013 club
owned land and building values at ` 1,500 and furniture at ` 600.

A 7
 OR
The following is the receipts and payments Account of the Harmony Club in respect
of the year ended 31st March, 2014 :
To Balance b/d 10,250 By Salaries 20,800

To Subscriptions By stationery 4,000

2012-13 450 By rates 6,000

2013-14 21,100 By Telephone 1,000

2013-14 750 22,300 By Investments 12,500

To profit on sports meet 15,500 By Sundry expenses 9,250

To income from investments 10,000 By Balance c/d 4,500

58,050 58,050

The following additional information is provided to you :

(i) There are 450 members each paying an annual subscription of ` 50; ` 500
were in arrears for 2012-2013 as on 1st April, 2013.
(ii) On 31st March, 2014 the rates were prepaid to 30th June, 2014; the charge
paid every year being ` 6,000.
(iii) There was an outstanding telephone bill of ` 350 on 31st March, 2014
(iv) Outstanding sundry expenses as on 31st March 2013 totalled ` 700
(v) Stock of stationery on 31st March, 2013 was ` 500; on 31st March, 2014 it was
` 900
(vi) On 31st March 2013, building stood in the books at ` 1,00,000 and it was
subject to depreciation at 5% per annum
(vii) Investments on 31st March, 2013 stood at ` 2,00,000
(vii) On 31st March 2014 income accrued on investments purchased during the
year amounted ` 375. Prepare an Income and Expenditure Account for the
year ended 31st March, 2014 and the Balance Sheet as at that date.

A 8