ANNUAL EXAMINATION SAMPLE PAPER

CLASS – XI (2023-24)
SUBJECT – ACCOUNTANCY

TIME: 3 Hr MM: 80
Prepared By: M.S.Sithara

1. This question paper contains 34 questions. All questions are compulsory.

2.Question Nos.1 to 16 and 28 to 31 carries 1 mark each.
Questions Nos. 17 to 20 carries 3 marks each.
Questions Nos. from 21 to 22 and 32 carries 4 marks each
Questions Nos. from 23 to 27 and 32 carries 6 marks each
3. There is no overall choice.
4. Use of unfair means during exam is strictly prohibited a candidate found guilty of using
any of the unfair means will be disqualified and debarred from appearing for any of the
examination for a year
Q.NO PART A FINANCIAL ACCOUNTING MARKS
1 Given below are two statements, one is Assertion (A) and the other is Reason (R). 1
Assertion (A): - Trade Discount is not recorded in the books of accounts, even if goods are
purchased in cash.
Reason (R): - Trade Discount is allowed for timely payment of due amount.
In the context of the above two statements, which of the following is correct:
(A) Both (A) and (R) both are correct and (R) correctly explains (A).
(B) Both (A) and (R) are correct but (R) does not explain (A).
(C) Both (A) and (R) are incorrect.
(D) (A) is correct but (R) is incorrect.
2 Book Keeping is a wider concept than accounting. 1
(a) True (b) False
(c) Partially true (d) Partially false
3 Prepaid Rent is a......................... account. 1
(a) Personal (b) Real
(c) Nominal (d) Capital
4 Amit, who owed Rs. 20,000 became insolvent. 40 paise in a rupee was received 1
from his estate. Bad Debts Account will be debited by:
(a) Rs. 10,000 (b) Rs. 8,000
(c) Rs. 1,500 (d) Rs. 12,000
5 According to which concept the same accounting method should be used each year. 1
(a) Prudence (b) Materiality
(c) Consistency (d) Historical cost concept
6 Which type of GST is applicable on supply from Delhi to Delhi? 1
(a) Centre GST (b) State GST
(c) Integrated GST (d) Both (a) and (b)

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7 1
Which of the following correctly distinguishes between a ledger and a journal?

(a) The journal is the book of original entry; the ledger is the book of final entry.
(b) The journal is the book for chronological record; the ledger is the book for
analytical record.

(c) The journal, as a book of source entry, gets greater importance as legal evidence
than the ledger.
(d) All of the above

8 The efficiency of management and workforce improves the earning the of a 1

business, but these factors cannot be recorded in the books of accounts
Identify the limitation of accounting described above.

a. Ignores qualitative elements b. Leads to window dressing

c. Ignores price level changes d. Not free from bias
9 What do you mean by outstanding expenses? Give its adjusting entry. 1
10 JhilmilCo.. has purchased 80 computers from Lenovo and is allowed a discount. of 1
Rs.15,000 for purchase thereof. Is the discount allowed, Trade Discount or a Cash
Discount? How will you record it in the books of Accounts?
11 ______________is prepared form of documentary evidence. 1

A. Ledger
B. Journal
C. Capital
D. Cash book

12 It is advisable to maintain an adequate amount of reserves and provisions for 1

emergency purposes. “Comment”

13 Goods returned by customers will be debited to which account? 1

(a) Purchases A/C

(b) Return outward

(c) Customer’s A/C
(d) Return inward
14 1
The following expenses were incurred by the petty cashier during the month of
August 2021: Stationery ₹1,800; Conveyance ₹ 600 ; Telephone expenses ₹2,000.
Imprest amount is ₹ 8,000. What will be the amount reimbursed?
(a) ₹ 3,750 (b) ₹ 8,000
(c) ₹ 4,400 (d) ₹ 4,250

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15 Goods returned by Senguttuvan were taken into stock, but no entry was passed in 1
the books. While rectifying this error, which of the following accounts should be
debited?
(a) Senguttuvan account (b) Sales returns account
(c) Returns outward account (d) Purchases returns account

16 Ledger is a principal book that contains. 1

(a) Real accounts only
(b) Personal accounts only
(c) All accounts
(d) Nominal accounts only

17 “Depreciation is a gradual process and not a one day activity”. Explain and enumerate 3
any causes of depreciation.
18 Which out of the following are capital expenditure, revenue expenditure and 3
deferred revenue expenditure?
a) Paper purchased for use as stationery.
b) Advertising campaign to launch a new product.

c) Brokerage paid for purchase of.plant and machinery.

19 What are Accounting Standards? Explain its relevance in the current business 3
scenario.
20 Prepare a Double column Cash Book from the following information:- 3
Mr. B.K. started a business with cash of Rs 22,000 and bank balance of Rs 100,000 on
1st February. The other related information is given below:

February-2 Purchased goods for Rs 10,000 from Anil and paid Rs 6,000 by cheque.
February-5 Sold goods to Mr. Bijay for Rs 8,000 and received a cheque. February-8 Paid
by cheque to Anil Rs 4,000
February-12 Deposited Binay's cheque into the bank.
February-21 Paid salary by cheque of Rs 8,000
February-23 Paid rent Rs 4,000 and wages of Rs 1,000
February-25 Deposited the remaining balance of cash except Rs 500 into the bank.
21 Define Assets, Liabilities, Expenses and Revenue. Explain its types and give 4
examples.

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22 4

OR

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23 Pass Journal entries for the following adjustment on 31st March, 2022: 6

i) Rant prepaid to the extent of ₹ 5,000.

(ii) Goods distributed as charity Rs.8000
(ii) Goods sold costing ₹6,000 to M/s Gogu & Sons at an invoice price 10% above cost
less 5% trade discount.
(iv) Goods worth 500 were used by the proprietor for domestic purposes.
(v) Provide 10% depreciation on Machinery costing ₹ 2,00,000.

24 Raghav and Co. have two bank accounts. Account No. I and Account No. II. From 6
the following particulars relating to Account No. I, find out the balance on that
account of December 31, 2014 according to the cash book of the firm.

1. Cheques paid into bank prior to December 31, 2014, but not credited for ₹ 10,000.
2. Transfer of funds from account No. II to account no. I recorded by the bank on
December 31, 2014 but entered in the cash book after that date for ₹ 8,000.
3. Cheques issued prior to December 31, 2014 but not presented until after that date
for ₹ 7,429.
4. Bank charges debited by bank not entered in the cash book for ₹ 200.
5. Interest debited by the bank not entered in the cash book ₹ 580.
6. Overdraft as per Passbook ₹ 18,990.

25 Saraswati Ltd. purchased machinery costing Rs. 10,00,000 on January 01, 2011. The 6
company purchased a new piece of machinery on May 01 2012, for Rs. 15,00,000 and
another on July 01, 2014, for Rs. 12,00,000. Part of the machinery, which originally cost
Rs. 2,00,000 in 2011, was sold for Rs. 75,000 on October 31 2014. Prepare the
machinery account, provision for depreciation account and machinery disposal account
from 2011 to 2015 if depreciation is charged at 10% p.a. on original cost and the account
is closed on December 31, every year

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26 Give journal entries to rectify the following errors assuming that suspense account 6
had been opened.
(i) Goods distributed as a free sample Rs.5,000 were not recorded in the books.
(ii) Goods withdrawn for personal use by the proprietor Rs.2,000 were not recorded in
the books. (iii) Bills receivable received from a debtor 6,000 was not posted to his
account.
(iv) Total of return inwards, book 1,200 was posted to return outwards account.
(v) Discount allowed to Reema Rs.700 on receiving cash from her was recorded in the
books as Rs. 70.
27 Prove that the accounting equation is satisfied in all the following transactions of 6
Doremon.
(i) Started business with cash 1,00,000 and goods Rs.70,000, Furniture Rs.30,000
(ii) Bought goods on cash 30,000 and on credit for Rs.20,000.
iii) Interest on capital@10% p.a.
(iv)Purchased furniture for Cash for ₹8,000 for office use.
(v) Paid for salaries ₹2,000.
(vi)Goods costing Rs.30,000 sold at a profit of 25% to Pranav. 1/4th payment was
received in cash.

PART B FINANCIAL STATEMENT ANALYSIS

28 If the opening capital is ₹ 90,000 as on April 01, 2014 and additional capital 1
introduced ₹ 40,000 on January 01, 2015, interest charged on capital 10% p.a, the
amount of interest on capital shown in Profit and Loss Account as on March
31,2015 will be:
(a) ₹ 5,250 (b) ₹ 6,000
(c) ₹ 4,000 (d) ₹ 13,000

29 Closing Stock appearing in the Trial Balance is shown: 1

(a) On the Dr. side of Trading A/c
(b) On the Cr. Side of Trading A/c
(c) On the Assets side of Balance Sheet
(d) On the Cr. Side of Trading A/c and on the Assets side of Balance Sheet
30 Among these transactions, which transaction will have no impact on stockholders’ 1
equity?
(a) Net loss
(b) Investment of cash by stockholders

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 (c) Dividends to stockholders
(d) Purchase of the land from the proceeds of bank loan
31 1
Extract of Trial Balance as of 31st March, 2013

Name of Accounts Debit Balance(Rs) Credit Balance(Rs)

Wages Paid 66,000

Salary Paid 16,500

Additional Information
Wages Rs 6,000 and salary Rs 1,500 are outstanding. Pass an adjusting entry and show
how this will appear in final accounts.

32 4
Barket Lal maintains his account on a single entry system. Calculate his profit for
the year ended from the following information provided:

Items 1st April 2020 31st March 2021

Cash in Hand 3,000 1,00

Bank Balance 9,000 7,000

Furniture 4,000 4,000

Stock 2,000 6,000

Creditors 8,000 6,000

Debtors 6,000 8,000

During the year his drawings were Rs.2,000 and additional capital invested was
Rs.4,000. Furniture appreciated by 20% and created a provision on debtors at 5%.

33 6

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Prepare Trading and Profit & Loss Account for the year ending 31st March, 2023 and
Balance Sheet as on that date after making the following adjustments:
1.Depreciate Land and Building at 2.5 % and Motor Vehicles at 20%.
2.Interst on Loan at 15% p.a. is unpaid for six months.
3.Ghanshyam Das withdrew Rs.2,000n for his private use. This amount was included in
general expenses.
4.Interest on Investment is receivable for full year @10%.
5.Provide on Manager's Commission at 10% on net profit after charging such
commission.
6.Stock in hand on 31st March,2018 was valued at Rs.25,000 (Realisable Value
Rs.22,000).

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