Roll No.

Code : 1123-24 ACCT-A

Please check that this question
paper contains 34 questions and 16
printed pages.
CLASS-XI
ACCOUNTANCY (055)
ANNUAL EXAM (2023-24)

Time allowed :3 hours Maximum Marks : 80

General Instructions :
1. Question Paper is divided into two parts. Part-A (56 marks) and Part-B (24 marks).
2. Both parts are compulsory.
3. All parts of the question should be attempted at one place.
4. Write down the question number clearly before attempting the question.
5. 25% of the marks allotted to the question would be deducted for not using correct
format, narrations and working notes.
6 Nothing should be written on the question paper.
7. Scheme of choice :
) 1Mark - 7 questions (2 from unit 1, 4 from unit 2 and 1from unit 3)
(ii) 3 Mark - 2 questions (1 from unit 1 and 1 from unit 2)
(iii) 4 Mark - 1 question (1 from unit 2)
(iv) 6 Mark - 2questions (1 from unit 2 and 1 from unit 3)

Part-A

the following: 1
1. Identify the underlying assumptions in IND-AS out of
Assumption
(a} Going concern Assumption, Accrual
(b) Going concern Assumption, Consistency Assumption
Assumption
(c) Accrual Assumption, Consistency
entity Concept
(d) Going concern Assumption, Business

1
Acc
 2
Identity the l and 2 fron the Figure 1

Sub-Divinion of Journal

1. 2.

Cash Purchases Sales Purchases Sales

Book Book Book Return Return
Book Book

Options
(a) Subsidiary Books and Journal Proper
(b) General Journal and Journal Proper
(c) General Journal and Subsidiary Books
(d) Journal Proper and Special Journals
1
3. Identify, which is not the characteristic of GST.
(a) It is a destination based tax.
(b) It is a comprehensive direct tax.
(c) It is a Supply based tax.
a liability.
(d) GST collected is not an income but
accounting states that accounts may be
4. Which of the following limitations of 1
manipulated to conceal vital facts :
(a) Accounting is not fully exact
window dressing
(b} Accounting may lead to

(c) Accounting ignores price level changes

(d) Accounting ignores qualitative elements
OR
2
Acc
 Which of the qualitative characteristic of accounting information is reflected when
accounting information is clearly presented ? 1

(at Understandability (b) Relevance

(c) Reliability (d) Comparability

5. In afinancial year, Vinod had total sales of 7,40,000, out of which 5,60,000 were
received in cash. Total expenses paid by him were 2,70,000, out of which ? 30,000
belongs to next year and 10,000 are still outstanding. His income for the year as
per Cash Basis of Accounting is 1

(a 2,90,000 (b) 3,80,000

(c) ? 3,90,000 (d) 4,70,000
OR

In a financial year, Sunil had total sales of 7,40,000, out of which 5,60,000 were
received in cash. Total expenses paid by him were 3,80,000, out of which 30,000
belongs to next year and 10,000 are still outstanding. His incomne for the year as
per Accrual Basis of Accounting is 1

(a) ? 2,90,000 (by 3,80,000

C I 3,90,000 (d) 4,70,000

6. Match the following : 1

Column 1 Column 2
A. Trial Balance 1. Book of original entry
B Ledger 2. Classification
C. Journal 3. Financial position
D. Balance sheet 4. Statement

Options :
(at A-4, B-2, C-1, D-3 (b) A-3, B-4, C-1, D-2
(c) A-2, B-1, C-4, D-3 (d) A-4, B-2, C-4, D-1

Acc
7. Arrange the steps of accounting process 1

(a) Recording
(b) Summarizing
(c) Identifying the financial transactions
(d) Classifying
(e) Communicating
A. (c), (a), (d), (b), (e) B. (e), (a), (c), (d), (b)
C. (c), (a), (b), (d), (e) D. (a), (b), (c), (d), (e)
8 Credit purchase of Furniture will be recorded through which voucher ? 1
(a) Debit Voucher (b) Credit Voucher
Transfer Voucher (d) Cash Voucher

9 Pick the odd one out from the following : 1

(a) O/s Rent (b) Unexpired Salary
(et Return Outwards (d) Commission received in Advance
10. When the number of accounts to be debited or credited is more than one, entry made
for recording the transaction is called
journal entry. 1
(a) Single by Compound
(c) Normal (d) Multiple
11. Statemnent 1: Deposit? 70,000 into bank is a contra entry. 1
Statement 2: It is not posted to the ledger since its double entry is completed in
the cash book itself.

Choose the correct option from the following :

Options
(a) Only statement 1is true.
(b) Only statement 2 is true.
e Both statement 1and statement 2 are true.
(d) Both
statement 1and statement 2 are false.
Acc
4
12. Assertion (A) : Imprest system is maintained for petty cash book. 1

Reason (R) : Every Petty Expenses is supported by voucher duly attested.

Choose the correct option
(a) Both A and R are correct andR is the correct explanation of A.
(b) Both A and R are correct but R is not the correct explanation of A.

(c) A is True but R is False.

(d) A is False but R is True.

OR
1
Assertion (A) :A ledger is als0 called the book of Final Entry.
transactions.
Reason (R):Ledger contains classified and permanent record of all the
Choose the correct option :
of A.
(a) Both A and R are correct and R is the correct explanation
explanation of A.
(b) Both A and R are correct but R is not the correct
(c) A is True but R is False.

(d) A is False but R is True.

will be the percentage of depreciation Under Straight Line Method (SLM) in

13. What 1
the following case :
6,60D
7 1,50,000
Original Cost of Machine
7 15,000
Salvage value after 9 years
Repair charges in 2nd year 710,000
(by 10%
(a) 11.11%
(d) 9.56%
(c) 10.18%
OR

three years of depreciation on reducing balance method

The W.D.V. of an asset after 1
1,45,800. What was its original value ?
@ 10% p.a. is
(b) 2,00,000
? 1,80,000
(a) (d) ? 1,62,000
? 1,89,540
(c)
5

Acc
14. Objective of preparing Trial Balance is : 1

(a) To ascertain the profit and loss Alc

(b) To ascertain the financial position of the business
(c) To ascertain the accuracy of accounts

To ascertain the arithmetical accuracy of accounts

OR

Preparation of Trial Balance is 1

(a) Voluntary
(b) Compulsory
(c) Neither voluntary nor compulsory
(d) Both (a) and (b) above

15. Which of the following errors will be rectified through suspense account 1

(a) Sales return book undercast by 1,000.

(b) Sales return by Madhu 1,000 not recorded.
(c) Sales return by Madhu 1,000 recorded as 100.
(d) Sales return by Madhu ? 1,000 recorded through purchases return book.
OR

If suspense account does not balance off even after rectification of errors it implies
that : 1

(a) There are some one sided errors only in the books yet to be located.
(b) There are no more errors yet to be located.

(c) There are some two sided errors only yet to be located.
(d) There may be both one sided errors and two sided errors yet to be located.
 From the following hypothetical case, answer the questions given in Q. No.
16 Aor 16 B:

Mr. Ram started business for buying and selling of readymade garments with
R16,00,000 as an initial investment. Out of this, he paid 4,00,000 for the purchase
of garments and 1,00,000 for furniture and 1,00,000 for computers and the
remaining amount was deposited into the bank. He sold some of the ladies and kids
garments for6,00,000 for cash and some garments for ?3,00,000 on credit to Mr.

Rajesh. Subsequently, he bought men's garments of 4,00,000 from Mr. Satish. In

the first week of the next month, a fire broke out in his office and stock of garments
worth 60,000 was destroyed. Later on, some garments which cost? 2,40,000 were
sold for 2,60,000. Expenses paid as salary during the same period were 30,000.
Mr. Ram withdrew ? 40,000 from business for his domestic use and 10,000 for
paying income tax. A part of the furniture which cost ? 30,000 was sold for 35,000.

16A. From the above, answer the following :

(a) What is the amount of capital with Mr. Ram started the business ? State the
3
amount of gain.
(b) What fixed assets did he buy and of what amount ?

(c) What is the value of the goods purchased ?

OR

16B. (a) Who is the creditor and state the amount payable to him ?
(b) What is the anmount of Expenses and Loss ?
(c) What is amount of drawings ?
3
17. Rectify the following errors in the books of RJ Bros :
(a) Goods of the value of 20,000 returned by Mr.
Gupta were entered in the sales
book and posted therefrom to the credit of his account.
was not posted at all.
(b) Depreciation written-off on the machinery R 5,000
dishonoured and has been posted
(c) A chegue of ? 7,200 received from Ashok was
2,700.
to the debit of Sales Return Account with Sales Heten
shot
Po Ban Ashok
OR
7
Acc
 Machinery
Rectify the following errors in the books of DJ Bros., a Trader of
(a) Machinery purchased for 55,000 was debited to Machinery
Account.

(b) Machinery purchased from us by Tulsi for 25,000 was posted to her account
as 52,000.
To Sals
Machinery purchased from Rishit for 15,000 was recorded in sales book and
credited to Rishit Account. uch
3
J8. Prepare 'Accounting Equation' from the following transactions in the books of Vinit:
A. The following balances appeared in the books of Vinit :

(i) Cash 7 2,00,000

(ii) Goods 1,20,000

(iüi) Ram (debit) 720,000

(iv) Furniture ? 40,000

(v) M/s Samrat Furniture 7 20,000 (Credit)

B. Sold goods (costing 15,000)for 18,000 out of which 5,000received in cash.

C. Unearned Interest 2,000.

19. From the following particulars, prepare the account of D. Budhiraja, the proprietor
3
of abusiness
1. Capital introduced 30,000

2. Drawings made by him 6,500

3. Further capital introduced 22,000

4. Profit for the period 7,500

Balance the same and explain what the closing balance indicates.

Acc
28. Name the concept identified in each of the following cases and differentiate between
them on the basis of Nature and Investment : 3

(1) is the amount set aside out of the profits for a specific purp0se
or to strengthen the financial position.
(2) is an amount set aside to provide for a known liability the amount
of which cannot be determined with accuracy.

Identify and explain the two Accounting Principles/Concepts/Conventions/

Assumptions followed in the following situation : 2+2=4

In a business, provision for doubtful debts is created @5% on debtors every year.
22 Prepare Bank Reconciliation Statement of Dev as on 31st March, 2023 : 4

(i) Credit balance as per Bank Pass Book as on the date is 6,000.
(ii) Outstation cheques for 20,000 lodged in the bank on 25th March 2023 but
out of these cheque worth ? 18,000 were credited in April 2023.
(iüi) Withdrawl column of the pass book under cast by /200.
(iv) Acheque worth 34,800 received from Ram was sent to the Bank and duly
credited by the bank but it was recorded in cash column of Cash Book.
OR

From the following information provided by Avni, prepare Bank Reconciliation

Statement as on 30th Sept., 2023 :

i) Debit balance as per Bank Cash Book as on the date is 8,300.

(ii) Out of the total cheques of 8,000 issued, cheques amounting R2200
5,800 have
+
been presented for payment upto 30th Sept., 2023.
(iii) Debit side of Avni's cash book (Bank Column) has been overcast by 500.)

(iv) No entry has been made in the bank column of cash book for the Rent of
/18,000)paid by banker as per Avni's standing instruction.

Acc
 ), 9D,oD
Kunal bought a machinery on April 1, 2020for 80,000 on which he spends 10,000
for carriage and freight, ? 2,000 for brokerage of the middle-man, ? 7,000 for
installation and 1,000 for ironpada 5,000 was incurred as repair and renewable
of machinery on September 1, 2020. On September 30, 2020, he purchased another
machinery for 58,000 and paid ? 2,000 for brokerage to the middleman. On Oct.
1, 2022, 2/5th of the machinery installed on April 1, 2020 became obsolete and was
sold at a loss of 10,000. On Dec. 1, 2022, another machinery was purchased for
which payment was made as 50,000 down and two subsequent half yearly
installment of 50,000 each plus interest.
The company writes off 10% per annum on the original cost. The accounts are closed
every year on 31st March. Show the machinery account for the year-end March
31, 2021-2023. 6

24. From the following transactions of M/s Ramesh Traders, Delhi, prepare a Double
Column Cash Book for the month of April, 2023. (Ignore Journal Proper) 6
2023

April 1 Cash in hand 2,000; Overdraft at bank 15,000.

April 3 Capital introduced ? 20,000 out of which ? 16,000 is by cheque and is
deposited in the bank.
April 4 Sold goods by Shyam Traders, Lucknow to us or 3,000 and they allowed
trade discount ? 200. The amount was paid by cheque.
X April 5 Sold goods to Rahim on credit ? 50,000.
April 15 Received from Vijaya a cheque on behalf of Jaya for 24,000 and deposited
the same into bank.

April 18 Received a cheque for ? 8,000 from Ram, which was endorsed to Balram
on 25h April.
April 20 Cashed a cheque for?10,000 and 3,000for private use of the proprietor
in cash.
/April 28 Sanju who owed 4,000 became bankrupt and paid 60 paise in a rupee.
April 30 Interest debited by bank 600.
April 30 Deposited with bank the balance after retaining ? 2,000 at office.

AcC
10
25. Pass necessary Journal entries inthe books of Karan, Delhi assuming GST
172000l
18%.
2023 6

May 420

1 Goods sold by Lubhavni to Karan for 50,000.

3 Sold to Ram of Haryana goods of the list price 25,000 less 20% trade discount.
5 Goods returned to Mohan, Mathura 30,000 which was purchased@ 18% GST
extra.
11 Received by cheque for a bad debt written off last year 11,000.
15) Telephone expenses 4,720 (Including GST @18%) 4720 47200D
OR

Record the following transactions of Harry, Amritsar into proper subsidiary books.
Accounts to be closed on 31st March, 2023. (Assuming GST @ 12%)
2023

Jan 1 Sold Readymade Clothes by Mahendra of Delhi to Harry, list price of

7 40,000 less 10% Trade Discount.

Jan 5 Sold Readymade Clothes to Mohan, Amritsar for 10,000 less Trade
Discount 10%.

Jan 6 Returned goods to Mahendra of the list price of? 5,000.

Jan 11 Shyam Singh, Delhi sold Readymade (Men) Clothes to us for 30,000.

Jan 19 Sold Readymade Clothes to Sohan, Haryana for 6,000, at 10% Trade
Discount.
| 0 , 0 D D

Jan 21 Purchased goods from Siya for 80,000 in cash.

Jan 26 Computer purchased from Mahesh for 8,000. 2

Part-B

is:
26. Expenditure on the construction of railway sidings for ? 60 Lac 5 6 0 1

Revenue expenditure (b) Deferred Revenue expenditure

(a)

(c) Capital expenditure (d) Option (a) as well as option (b)

11
Acc
27, Calculate gross profit when :
Cost of Goods sold is 10,00,000 and 4/5h of the goods are sold for 7
Options : 12,00,000.
(a) R 40,000 (b) 2,00,000
(c) 4,00,000 (d) 6,00,000
28. Under Single entry system, when closing capital is greater than opening capital it
means :
1
(a) Profit

(b) Loss

Profit if fresh capital is not introduced

(d) No profit, No loss
29. Match the following : 1

Column 1 Column 2
A. Trading Alc 1. Net purchase + opening stock -
closing stock
B. Cost of Goods sold 2. Debit side of Trading A/c
C. Adjusted purchases 3. For the year ended
D. Carriage 4. Opening stock + Net purchase +
Direct expenses - Closing stock

Options :
(a) Al, B2, C3, D4 b A3, B4, C1, D2
(c) A2, B1, C4, D3 (d) A3, B2, C4, D1
30. Differentiate between Double Entry System and Single Entry System on the baS15
of Aspects of a transactions'. 1

OR

Bifferentiate between Double Entry System and Single Entry System on the basi
of 'Accounts Maintained'.

Acc 2 2

12
 From the following figures, calculate Operating profit :
Particulars Amount )
Net Profit 1,00,000

Salary 12,000
Rent Received 10,000
Gain on sale of machine 15,000
Interest on loans 20,000
2,000
Donation

extract from the Trial Balance of a firm as at 31st March, 2023:

32. Following is the
4
2023
Trial Balance as at 31st March,
Dr. () Cr. (?)
Heads of Accounts L.F.
14,000
Bad Debts
8,26,000
Sundry Debtors
90,000
Provision for Doubtful Debts

Additional Information :

(i) Additional bad debts 26,000.

sundry debtors.
(ii) Maintain the Provision for Doubtful Debts @ 5% on4o,0D
Pass necessary Journal entries.
systemnatic manner. He gives you the following
33/ Jayesh does not keep his records in 6
information :

1/4/22 31/3/23
Particulars

18,500 40,000
Stock
13,000 15,000
Debtors
11,000 2,300
Creditors
4,000 3,000
Office Equipment
10,800 10,800
Building
4,700 2,000 (Overdraft)
Cash at Bank

additional information :
You are given the following

13
Acc
 A provision of 1,000 is required for doubtful debts.
Depreciation @5% is to be written off on Building.
Drawings of Jayesh during the year were 7,500.
Capital introduced during the year were 10,000.
Calculate the profit made during the year ended 31/3/23using Statement of
Method. Affairs
From the following balances taken from the books of Sunidhi, prepare Trading and
Profit & Loss Alc for the year ended 31/3/23:
6
Trial Balance as at 31/3/2023

Debit balances Credit balances

Drawings 35,000 Capital 3,02,000

Opening stock 50,000 Sales 6,30,000
Purchases 2,60,000 Provision for doubtful debts 21,000
Wages 44,000 Discount received 23,000

Power and Fuel 65,500 Creditors 43,500

Salaries 1,20,000 Salary outstanding 24,000
Bad debts 25,000 Interest on loan to Raj 1,00,000
Debtors 1,91,000 @ 12% (Taken on 1/4/22)

Carriage 4,500 Reserves 55,000

Rent 24,000

Cash at Bank 30,000

Insurance premium 6,000

6260

Acc 14
 Rent paid in advance 2,500

Fixed Deposit 1,00,000

Machinery 1,50,000

Furniture 50,000

Interest on loan to Raj 8,000

Trade Expenses 18,000

Returns Inward 15,000

|11,98,500
11,98,500

Adjustments
(Market value 1,15,000).
I. Closing stock was valued at cost 1,25,000
June, 2023.
I. Insurance premium is paid for the year ending 30h
III. Wages is paid for 11 months.
IV. Depreciate Machinery by 5% p.a. and Furniture by 10% p.a.
V. Furniture was purchased on Oct. 1, 2022.
7500
OR

From the following balancestaken from the books of Nidhi, prepare Profit & Loss
Alc and Balance Sheet for the year ended 31/3/2023 :

Trial Balance as at 31/3/2023

Debit balances Credit balances

Power, fuel & Gas A 25,600 Capital 3,50,000

1,00,000 Commission received 9,000

Machinery
Purchase 1,60,000 Sales 6,58,600

15
Acc
 Debtors 2.50.000 Purchase return
12,000
Zalaries 2,60,000 Creditors
40,000
KWages 16o0 45,000 Loan on Mortgage
80,000
170DD
Rent 35,000 Provision for D/D 12,000
628600
(doubtful debts)

Sales return K 4,000 Provision for depreciation

Bad debts 11,000 on Machinery 10,000
Íncome Tax 10,000

Postage expenses 25,000 6400

Snsurance 8,000
Opening Stock x 1,30,000
/Office Expenses 80,000
JCash at Bank 28,000 40,9o
|9,0D
11,71,600 11,71,600

Adjustments
2
Gross profit 5,32,000.
Depreciate machinery @10% p.a. WDV Method (Diminishing Balance method
Insurance premium is paid upto 30th June, 2023 Ho.t
Salary is paid for 13 months. 2o, DDD
2?690
Accrued commission 3,000.
yÍ. Closing Stock ? 2,26,000.
570,60D

4a0,60o
AcC 16