D.A.V.

PUBLIC SCHOOL THANE

SESSION: 2024-2025
WORKSHEET-1
SUBJECT: ACCOUNTANCY

DATE: TIME: 1 Hr 30 min

STD: XI MAX MARKS: 40

The WORKSHEET contains two sections.

Candidates have to attempt all questions from Section A and B There are
internal choices provided in each section. ATTEMTPT BOTH
The intended marks for questions or parts of questions are given in the brackets [].
All calculations should be shown clearly.
All working, including rough work, should be done on the same page as, and
adjacent to, the rest of the answer.

Section A (18 marks)

(Attempt all questions)
Question 1
Choose the correct option ( Do not copy the question)
i) Purchases means buying of: [1]
(A) Assets for the factory
(B) Stationery for office use
(C) Goods for trading
(D) All of these

ii) In accrual basis of accounting, recording is made of: [1]

(A) Cash transactions
(B) Credit transactions
(C) Both (A) and (B)
(D) Neither (A) nor (B)

iii) ₹ 5,000 received from Mohan whose account was written off as bad in the previous [1]
year should be credited to:
(A) Mohan's A/c
(B) Bad-Debts A/c
(C) Bad-Debts Recovered A/c
(D) None of these
iv) Which of the following is correct? [1]
Assets Liabilities Capital
(A) ₹7,85,000 ₹1,25,000 ₹6,60,000
(B) ₹ 8,20,000 ₹2,80,000 ₹11,00,000
(C) ₹ 9,55,000 ₹1,15,000 ₹ 8,20,000
(D) ₹5,42,000 ₹ 6,54,000 ₹ 1,12,000
v) Assertion (A)
Human resources in a business firm are important but are not reflected in the

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 financial statementsof the firm

Reason (R)
Transactions should be recorded from view point of business and not from the view
point of businessman/owner

Choose the correct option:

(A) Both Assertion and Reason are correct and Reason is the correct explanation of the
Assertion
(B) Both Assertion and Reason are correct but Reason is not the correct explanation
of the Assertion
(C) Only Assertion is correct
(D) Only Reason is correct

vi) Explain the term rebate with an example. [1]

vii) Explain any one advantage of Accounting. [1]

viii) Mr. D’Silva who owed us ₹ 60,000 became insolvent and paid only 30 paise in a [1]
rupee. Pass the journal entry.

ix) Pick odd one out: [1]

Debtors, Bills Receivable, Bank Balance, Capital
Question 2
On 1st April 2024, the position of Mr Gupta was as follows: [3]
Bills Receivable ₹ 50000; Mr.Shyam (Cr) ₹11,600; Cash at Bank ₹ 2,68,000; Cash in
Hand ₹ 18,250; Mr Raj (Dr.) ₹ 12,000; M/s. Laxmi & Co (Cr) ₹ 1,82,000; Office
Furniture ₹38,000; Bills Payable ₹28000.
Calculate the amount of Mr Gupta’s capital. Also, show the journal entry to open his
books.

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 Question 3
Pass the Opening Journal entry. [3]

Madhuri & Co.

Balance Sheet
As at 31st March ,2024

Liabilities Amount (₹) Assets Amount (₹)

Capital 6,00,000 Plant & Machinery 3,00,000
Bank Loan 2,50,000 Land & Building 3,00,000
Mortgage Loan 1,50,000 Cash 35,000
Bank 1,50,000

Question 4
A Goods costing ₹20,000 is sold to Mr. Narayan at a profit of 20% on cost and trade [3]
discount is allowed @10% and cash discount of 10% is also allowed. Half the
payment was received at the time of sale. What is the amount of cash received at the
time of sale? Also, pass the journal entry.

OR
Question 4 Pass journal entries for the following transactions: [3]
B
1) Wages expense ₹72000. Out of this wages of ₹22000 pertains to the
next accounting year.
2) The commission received ₹15000. Amount of commission earned but
not received is ₹8000.
3) Rent received ₹50000. Rent of ₹10000 is received in advance.

SECTION B (22 marks)

Question 5 Journalise the following transactions in the books of Sunil [6]

a) Received a cheque from Mr.Black ₹9,500. Allowed him discount ₹140.

b) Issued a cheque in favour of Mr Khurshid Ali on account of the purchase of

a machinery for ₹75,000.

c) Withdrew for domestic use ₹ 9000.

d) Returned goods to Vardhman spinning mills worth ₹3,500.

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Question
6 Prepare necessary ledger accounts (Cash A/c, Purchases A/c and Vishal Trading Co. [6]
A/c) in the books of Siyaram &Sons and balance the same.
Date Particulars L Debit(Rs) Credit(Rs
F )
2024 Cash A/c Dr 2,00,000
June 1
To Capital A/c 2,00,000
( Being cash invested)

3 Office furniture A/c Dr 20,000

To Cash A/c 20,000
( Being furniture purchased)

5 Purchases A/c Dr 50,000

To Cash A/c 50,000
( Being goods purchased)

8 Purchases A/c Dr 25,000

To Vishal Trading Co. A/c 25,000
( Being goods purchased)

10 Vishal Trading Co. A/c 5,000

To Purchases Return A/c 5,000
( Being Goods purchased on credit)

14 Vishal Trading Co A/c Dr 20,000

To Cash A/c 19,000
To Discount Received A/c 1,000
(Being cash paid in full settlement after deducting
5% cash discount)

15 Rent A/c Dr 12,000

To Cash/ Bank A/c 12,000
( Being rent paid)

OR

Pass the compound journal entry and post it into two Ledger Accounts- Purchases
and Bank A/c in the books of Mr. Ankit. [6]
Question On 1st April 2024, Mr Ankit purchased goods for ₹ 10,000 and furniture of ₹ 5000
6 against cheque.
B On the same date, he paid salaries ₹80000 and salaries owing (due) ₹ 20000.
Ankit also paid Income Tax ₹ 25,000 by cheque.

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Question 7

A Following balances appeared in the books of Ram & Co. on 1st April 2024. [10]
Assets: Cash in hand ₹ 90,000, stock ₹ 36000, Mr.Lal Chand ₹ 16,200 and Furniture
₹ 80,000.
Liabilities: Mr.Vinod ₹ 70,000, Bills Payable ₹30, 000 and Bank Loan ₹ 50, 000.

2024
April 1 Purchased Typewriter for ₹ 10,000.
3 Paid Mr.Vinod in full settlement of his account.
4 Received ₹ 15,500 from Mr. Lal Chand in full settlement of his
account.
8 Sold goods for cash ₹ 18,000 at 10% Trade discount.
12 Paid for Life Insurance Premium of the proprietor ₹18,000

Journalise the above transactions, post them into Ledger- Lal Chand’s A/c, Mr
Vinod’s A/c, and Cash A/c and balance them. Consider all cash and bank transactions
as the same.

OR

Question Journalise the following transactions [10]

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B

2024
June 5 Received order for goods from M/s Ranbir & Co. of ₹ 50,000 along with
a cheque for ₹ 18,000 as advance.
6 Placed order for goods with M/s. Kohli & Sons of₹ 80,000; paid them ₹
40,000 by cheque in advance.
8 Kohli & Sons supplied goods of ₹ 80,000.
9 Paid a cheque for 60% of the balance amount due to Kohli & Sons on
account.
20 Goods costing ₹ 50,000 were damaged in transit; a claim was made on
railway authorities for the same.
29 Received a cheque of ₹ 40,000 from the railway authorities in full
settlement of claim for damages in transit.
30 Sold goods to Vishesh costing ₹40,000 at a profit of 25% and allowed
him 10% trade discount and paid for cartage ₹1,000 to be charged from
him.

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