Term End Examination 2021-22

Class-XI m.m. 80
ACCOUNTANCY
1 mark each
Multiple cholce Questions
1) Key is Pressed to record the entry of Purchases Return
a. CTRL+F9 b. ALT+F9 C.CTRL+F8 d. CTRL+F10

2) is the example of Operating expenses

a. Donation b. Loss on sale of Assets C. Interest on short term borrovwing d. wages

3) In case of Single entry system, only Accounts are maintained

a. Real b. Personal C. Nominal d. all of the above

4) Amortisation refers to writing off assets

a. Tangible b. Intangible C. Fictitious d. wasting

5) How many predefined vouchers in tally?

a. 28 b. 15 C. 13 d.23
6) Profit on sale of machinery is used to create
a. Capital Reserve b. Specific Reserve c. General Reserve d. All of these

7) A promissory note has parties

a. Two b. Three C. Four d. Five

8) Royalty of a Mine will be recorded in trading

a. Trading A/c Dr Side b. Profit and Loss A/c Dr Side
c. Profit and Loss A/c Cr side d. Assets

9) Calculate Gross Profit

Net sales 1,00,000
Gross profit 1/3on cost
b. 33334 C. 25,000 d. 20,000
a. 333333

10) Showing Contingent Liabilities as Actual Liabilities

C. secret Reserve d. Specific Reserve
General Reserve b. Contingency Reserve

Account". It's called error

11) "Wages paid For Construction of office Debited to wages
b. commission c. Principle d. Compensating
a. Duplication

then the Maturity date is on;

12) If due date of a Bill Falls on a Public Holiday,
b. one day before the maturity date
A. one day after the maturity date
d. None of the above
c. Public holiday

13) A Spread sheet can be used for

c. Budgeting d. answer a Query
b. typing a letter
a. Programming

is of Commission?
an error
14) Which of the Following errors sales Book
a. sale of Old Furniture
For 16,200 Passed through the
recorded
b. Good sold to Ram but was not
Discount Received has been
added Rs 100 short
C. The total of
d. All of the above The Straight- Line
machine is Rs 5,000. Three years later, the Book value is Rs 1,250.
The Book value of a
15)
Percentage Depreciation is:
C. 25% d. 20%
b. 36%
50%
 16) We can check a firm stock summary in Gateway of Tally under
a. masters b. transactions c.Report c. Display

17) Name the First primary Group in tally

a. Fixed Assets b. Non-Current Liabilities C. Capital d. Branch

18)Expenses on overhauling a second- hand Machinery at the time of its Purchasedis

a. Revenue expenditure b. Capital expenditure c. Deferred Revenue Expenditure d. none of these

19) If we Covert the Digit number '679' Into Binary language then we will obtain
a. (101101001001) b.(10010100111) C. 1010100111) d. (1010100101)

20) Abillof 19,000 was Drawn by Laalu on Yadav On 15. 12. 2021. Compute the date of Maturity, if all of sudden 25
January 2022 was declared as emergency Holiday
a. 24 January b. 26 January c. 27 January d. on the same day

3 marks each
21 Pankajmaintains his Books as per single entry system. His capital as on 31" December,2017 was 3,00,000. He
withdrew From the Business Rs 700 per Month upto 30th June,2018 and thereafter, Rs 900 per month as Drawings
He also paid an Instalment of 1,200 per Month on the loan taken for his Personal House from the business. He sold
his shares in Reliance Company of 50,000 at a Premium of 5% and brought that Money into the Business. If Capital as
On 31 December, 2018 was 4,70,000, Calculate the Profit earned During the year.

22) Pass necessary Journal entries

I. Outstanding Manager Commission is Rs 5,000
. Stock of the value Rs 6,000 was destroyed. The stock was Purchased Paying IGST 18%. It was insured and the
insurance Co. admitteda claim of Rs 4,000
. Commission Accrued Rs 12,000

4 marks each
23) Bhanu earns Gross Profit 1/4" on cost. Cash sales of the firm were 1/6 of total sales. If cash sales were Rs S0,000,
Opening stock was 30,000 and closing stock was 40,000, what will be the value of Purchases?

24) What all ledger, primary group and Sub group will be needed to create the following transactions?
I. salary outstanding
sale of Goods to Ram
business started with cash
IV. prepaid rent

25) Write a Short note on Reseve

OR
State whether the Following transactions are Capital expenditure or revenue expenditure
. Replacement of worn-out part of an existing machine
Expenditure incurred on the Purchase of second-hand asset
Payment of annual taxes
IV. 2,00,000 spent for repainting the Factory building

26) Followingis the extract of Trial Balance as on 31 December, 2018

Particulars DR CR
Debtors 2,06,000
Bad DebtsS 5,000
Provision For Doubtful Debts 7,000
Additional Information
. An amount of 6,000 due From a Party, the Money of Which was doubtful before Compilation of the trial
Balance. Thereafter proved to be a bad debt and required to be written off.
Create Provision For Doubtful Debts @ 10% on Debtors
 I1. Create Provision For Discount on Debtors @ 5% on Debtors.
Show the relevant extract From the Profit and Loss Account and the Balance sheet,

27A Computer System is Capable of performing many things." Explain some of the Capabilties of a Computer
system.

6 marks each
4s PassJournal entries to rectify the following errors (assuming that suspense Account opened)
B1ll for 820 received From Ramesh for repairs to Machinery was entered in the Purchase Book as 720

350 paid for carriage on sale of goods was credited to Carriage inward account when posted from the cash
Book.
II. L0,000 paid to Gopal furniture store for the purchase of Furniture as per their cash memo were debited to
Furniture A/c.
V Goods sold for 1,240 and debited on 20th March to C, were returned by him on 23 and takern into stock on
31 march no entries being made in the books for return.
V. An item of Rs 500 relating to Prepaid Insurance Account was omitted to be Brought Forward From the
Previous year's Book
VI. There was a Claim against the Firm Damage Rs 20,000, it was in Dispute and it was estimated that 12,000
would probably have to be paid on this account.

29) On 2 February, 2019, Amit Purchased goods From Manish for 35,000. Amit paid 5,000 immediately and for the
Balance, Accepted a bil payable after 60 days. Manish immediately endorsed the Bill in Favour of his creditors Kapil.
On the due date, Kapil Presented the Bill to Amit which the Latter Dishonoured and Kapil paid Rs 100 as noting
charges. On the same date, Kapil informed Manish about the dishonour of the bil. Manish settled his debt to Kapil
and Amit settled Manish's Claim by cheque for the same amount. Record the necessary Journal entries in the books
of Manish
OR
Write a short note on Bills of Exchange

30) On 1 January, 2004, M/s. Atul and Bros. Purchased 5 washing machines for 15,000 each. They sold on 1
January, 2005 one machine for 12,500. They decided to write off Depreciation@10% on the straight Line method.
Prepare the washing Machine Account for two years. Accounts are closed on 31" December every year

8 marks each
31) On 31" December, 2018 the Following trial Balance has been given. Prepare Trading, Profit and loss and Balance
sheet
Particulars DR CR
Capital 50,000
Good withdrawn For Personal use 3,500
Stock on (1.1.2018) 15,000
Returns 1,500 2,000
Clearing Charges 1,200
Export duty 750
Loan to Anuj @ 5% 15,000
Interest on Loan to Anuj 500
Rent 800
Rent Outstanding 300
Purchases 28,000
Debtors 30,600
Creditors 12,000
Advertisement Expenses 900
Provision For Doubtful Debts 600
Bad Debts 400
Bills Receivable 1,950
Petty cash 14,400
Sales 55,000
Discount Allowed 400
 Wages
6,000
1,20,400 1,20,400

Adjustments
. Stockon 31.12.2018 was valued at
18,000.
The manager is entitled to a Commission of 10% on turnover
Bad debt write off 200
IV. Admitted a Claim of Rs 950
oOck Valued at 1,500 was destroyed by Fire on 26.12.2018. Insurance Company
Only.
V. 200 out of the Advertisement expenses are to be Carried Forward to the next year
and
"
basis" for 720 on 26 December 2018
VI.
G00d Costing 600 were sent to a Customer on sale on Return
had been recorded in the books as actual sales and received Approval on the same day.

OR
Distinguish between trial Balance and Balance sheet.
record of
He does not keep a systematic
32) MR varun stated Business on 1t April, 2018 with a capital of 1,00,000. Loss Account
to prepare the Trading
and Profit and
his transactions. From the Following particulars, you are required
on that date
For the year ended 31 march, 2019 and the Balance sheet as
Amt
Particulars 5,000
Drawings
Sales(including cash sales Rs 30,000) 70,000
50,000
Purchases(including cash Purchases 10,000)
Salaries
6,000
2,000
Repairs 500
Bad Debts written off
Rent Paid
1,500
10,000
Furniture Purchased and Furniture 10,000
creditors 25,000; Stock 12,000
March 2019, Debtors amounted to 30,000;
On 31 OR

methods of single entry system

Explain the