KINGSWOOD WORLD SCHOOL
UNIT TEST-2
GRADE-11
SUBJECT – ACCOUNTANCY
DATE – 30-08-24
TIME: 1.5 hr MM: 40
GENERAL INSTRUCTIONS:
1. All questions are compulsory.
Section- A
Q.1 Explain the following Principles: (6)
(a) Consistency (b)Matching Concepts (c) Convertism
Q.2 Distinguish between Provision and Reserves. (6)
Q.3 Prepare double column cash book from the following transactions for the year August 2017
(6)
01 Cash in hand 17,500
Cash at bank 5,000
03 Purchased goods for cash 3,000
05 Received cheque from Jasmeet 10,000
08 Sold goods for cash 7,000
10 Jasmeet’s cheque deposited into bank
12 Purchased goods and paid by cheque 20,000
15 Paid establishment expenses through bank 1,000
18 Cash sales 7,000
20 Deposited into bank 10,000
24 Paid trade expenses 500
27 Received commission by cheque 6,000
29 Paid Rent 2,000
30 Withdrew cash for personal use 1,200
31 Salary paid 6,000
Q.4 From the following balances, taken from the books of M/s Dwarka Parshad & Sons as at
31st March 2017, prepare a Trial Balance in proper form :− (6)
Name of Accounts (₹) Name of Accounts (₹)
Cash in Hand 4,500 Machinery 24,000
Bank Overdraft 8,000 Land & Buildings 50,000
Opening Stock 20,000 Debtors 18,400
Purchases 80,000 Creditors 8,500
Purchases Returns 2,000 Bills Receivable 2,850
Sales 1,30,000 Bills Payable 1,650
Sales Returns 5,000 Capital 60,000
Travelling Expenses 1,800 Drawings 6,000
Discount Allowed 600 Rent 3,700
Discount Received 1,500 Salaries 3,600
Loan (Cr.) 10,000
Interest on Loan 1,200
Q.5 Give Journal entries the following transaction (6)
1. Started business with Cash Rs. 120000.
2. Bought goods from Vishawas worth ₹1,00,000 at 20% trade discount and 5% cash discount.
Paid full amount at the time of purchase itself.
3. Withdrawn for private use Rs. 3000.
4. Provide 10% depreciation on furniture costing ₹50,000.
5. Received ₹20,000 from Subhash, which were written off as bad-debts in the previous year.
6. Charge interest on drawings ₹8,000.
7. Purchased a machinery for Cash ₹3,00,000 and paid ₹25,000 in Cash as wages on its
installation.
8. Goods for ₹20,00 were given away as charity.
9. ₹10,000 due from Rohit are now bad debts.
10. Goods worth ₹20,000 were used by the proprietor.
11. Withdrawn from bank ₹40,000 for office use.
12. Salaries due to clerks ₹60,00.
Section-B
Multiple Choice Questions
Q.1 Amount invested by the proprietor in the business should be credit to:
(a) A/c payable (b) Capital(c) Cash(d) Drawing
Q2. Goods returned by customer will be debited to which account?
(a) Purchases A/C (b) Return outward (c) Customer’s A/C (d) Return inward
Q.3 The credit side of a cashbook is ________:
(a) The loss side (b) The receipt side (c)The profit side (d) The payment side
Q.4 Once you add a bank column to both sides of a single cashbook, it becomes a _______:
Petty cashbook
(a) Double column cashbook
(b) Triple column cashbook
(c) None of the above
(d) Triple column of cashbook
Q.5 If the trial balance does not tally after many efforts, then the __________ account is opened.
(a) Purchase account
(b) Suspense account
(c) Sales account
(d) None of the above
Q.6 If wages paid for the installation of new machinery is debited to the wages account, it is
___________.
(a) An error of commission (b) An error of principle
(c) A compensating error (d) An error of omission
Q.7 A trial balance is prepared after _______.
(a) Preparation of the financial statement
(b) Recording the transactions in the subsidiary books
(c) Posting it to the ledger is complete
(d) Posting it to the ledger is complete, and the accounts have been balanced
Q.7 In a cashbook, a contra entry is recorded on the __________:
(a) Debit and credit side of a cashbook (b) Debit side of a cashbook
(c) Credit side of a cashbook (d) Not recorded in the cashbook
Q.8 A cashbook that records minor expenses of a business on a day-to-day basis is a ________:
(a) Petty cashbook (b) General cashbook (c) Extra cashbook (d) Additional cashbook
Q.9 Cash withdrawal from business by the proprietor should be credited to
(a) Cash account (b) Purchase account (c) Capital account (d) Drawings account
Q.10 Which one of the following is called the book of original entry?
(a) Receipt and Payment Account (b) Trial Balance (c) General Journal (d) General Ledger
