Bal Bharati
PUBLIC SCHOOL
Pitampura
CODE NO-ACC/11/B
HALF YEARLY EXAMINATION (2022-23)
CLASS-XI
.Please make sure that the question paper contains 7 prínted pages containing
34 questions.
Code Number given on the right-hand side of the question paper should be
written on the title page of the an_wer book by the candidate.
. Please write down the serial number of the question before attempting it.
. I n case of reattempting a question cancel the previous attempt.
ACCOUNTANCY (055)
Max. Marks: 80
Time allowed: 3 hr.
if the owner
Calculate the owner's equity as per the Business Entity Concept,
Q1 land worth Rs.3crore, building
commenced the business with the 2 acres of
worth Rs: 5crore and Bank balance of Rs. 10 lakhs.
a) Rs.8Crore 10 lakhs
b) Rs.11crore 10 lakhs
c) Rs.10 lakhs
d) Rs. 9crore
At the time of passing 1
Q2 Salary paid Rs 55,000 and outstanding Rs 5,000.
journal entry Rs amount will be debited in Salary A/c due to
accrual concept
ASB stands for.
3
Q4 building that has been purchased by the firm for crores,
The value of a
value in the books of accounts violates
keeps on changing with its market
the principle of
a) Historical cost
b) Matching
c) Money Measurement
d) Materiality
Goods costing 48,000 sold at a profit of 25% on
sales to Ram, 4th received 1
Q5
in cash and half of remaining received a
Post-dated cheque then Debtors of
Rs -will be increased in accounting equation
Page 1 of 7
Q6 The functions of accounting are:
1. To ascertain profit and loss
2. To ascertain the financial position
of the firm
3. To provide information to various parties
4. All of the above
income of .sese nature
Q7 Revenue means
for the sales 1
in the month of Dec 18
Q8 ABC Ltd. received an advance on sale
should be recognized on
made in the month of May'19. The sale
a)May'19
b) Dec'18
c) Both in May'19 and Dec'18
d) Jan'19
True/False. Give reason to justify your answer
Q9 and fair view of profit and loss
and
a true
Cash basis of accounting presents
financial position of business enterprise
which supporting document 1
When are goods received back from customers
Q10
is prepared?
not of financial character:
Q11 Which of the following transactions is
1. Purchase of asset on credit
2. Purchase of asset on cash
from business
3. Withdrawing of money by proprietor
4. Strike by employees
His
Rs 3,20,000 and credit sales of Rs 1,80,000.
Q12 Shyam made cash sales of which Rs10,000 is yet to be
were Rs 50,000, out of
expenses for the year
of accrual basis of accounting will be
the base
paid. Shyam's income
on
Rs_
furniture for the business for Rs 20,000
and also paid Rs1
Q13 A trader purchased to record this
voucher to be prepared
800 as carriage. The accounting
transaction will be
Rs. 20,800
a) Credit Voucher of
b) Credit Voucher of Rs 20,000
c) Debit Voucher of Rs 20,000
Rs 20,800.
d) Debit Voucher of
to prepare a
in Bank. The accountant needs
Q14 A trader deposited Rs 40,000 transaction.
which will act as evidence of
this
source document
a) Pay in slip
b) Cheque
c) Debit Note
d) Credit Note
Page 2 of 7
Q15 Discount received from creditors is shown on
the
A/c.
-
- - -
side of creditors 1
Q16 Pawan, a trader in electronic goods, gifted a
A/c will be debited and--- A/c will be refrigerator
to his
-
credited.
daughter.-- 1
Q17 Identify the relevant accounting concept/principle:
The owner of the business shows his
capital as a liability and not as an asset
Q18 Insurance premium of Rs 12,000 paid for one year on 1st August 2018,
unexpired insurance premium as on 31st March,2019 will be-
(a)Rs 4,000
(b)Rs 5,000
(c) Rs 6,000
(d) Rs 7,000
Q19 Give two examples of revenue expenditure
Q20 The amount spent on purchasing machine during the financial
categorised as: year will be
1) Current Asset
2) Current Liability
3) Revenue Expenditure
4 Capital Expenditure
Q21 On which side of the account will the
decrease in the
recorded: following accounts be 3
1. Prepaid Insurance
2. Bank 0verdraft
3. Outstanding rent
On which side of the account will the increase in the
récorded: following accounts be
1. Bills payable
2. Sales account
3. Capital account
Q22A) Give an
example of the following transactions:
1. Decrease in an asset and
(13)
2. Increase in asset and a liability
liability
B) Name the financial statement that shows the
business financial position of the
C) Why are employees interested in the
financial statements of the
business?
Q23A) | Differentiate between cash and
accrual basis of
capital and revenue items. accounting on the basis of (1+2)
Page 3 of 7
What are Accounting Standards? Are they to be mandatory followed. Explain
3)
any one reason in support of your answer.
Q24A) Explain "Comparability "as Qualitative characteristic of Accounting (1+2)
Information.
and financial soundness
B) Accounting provides information about profitability
Name and
of a concern. However, Accounting has certain limitations.
elaborate any 2 such limitations.
2019 with a capital of Rs 4,00,000 and (1*3)
Q25A) | Yash commenced business on 1 April
borrowed loan of Rs 300000 from Bank of Baroda
a
Calculate his closing capital
On 31 March,2020 his assets were Rs 10,00,000
000.It further incurred
B) Ram &Co purchased machinery for Rs 1,20, 2000.The amount
Rs
transportation of Rs 20000 and installation cost of
cost
of machinery in the balance sheet at
the end of the year will be.
account for Rs
Rs100000.He opened a bank
"A started business with cash
C) 30000.He also bought goods for Rs
3000".
account
From the statement identify
one real, personal and nominal
(1*3)
a furniture
business and entered the following transactions:|
Ram & Sons had
Q26
200000 at 20% trade
discount and 5 %
goods to Akki for Rs
March 5: Sold
was paid in cash immediately
cash discount.60% payment
trade discount and 5
for Rs 100000 at 10%
to Shama
March 20: Sold goods She paid 60% on
received within 10 days,
cash discount if the payment is
%
March 25 and 30% of
the remainder on April 5
40% profit allowing
March 23:Sold goods to
Parul costing Rs 100000 at
Parul made 60% payment
20% trade discount and 5%cash discount
immediately by cheque
the following questions:
You required to a n s w e r
are
from Akki on 5th March
total amount received
A) Compute the
received from Shama
B) Compute the total
amount
received from Parul on 23 March
C) Compute the amount
the Capital account of Ram, the 4
Q27 From the following particulars prepare
proprietor of the business:
1) Capital introduced Rs 30,00,000
use Rs 40,000
2) Cash with drawn for personal
3) Profit earned during the years 50,000
Also balancethecapitalaccount
Page 4 of7
Q28A) Give any one difference between Cash discount
and Trade Discount 4
B) Ram purchased a building for Rs
2000000.At the end of the financial year,
the value of the building came down
to Rs 18,00,
building at Rs 18,00,000 and showed a loss of Rs 000.Ram
200000 inrecorded
the books.theIs he
correct in doing so? Why/Why not?
C) "After balancing of accounts, all accounts will show a credit balance.
Comment.
D) Which accounting principle requires that personal expenses of proprietor
should be debited to Drawings account?
Q29 Nidhi started Electronics goods business. She introduced capital of Rs 4
50,00,000 on 1 April,2021. She invested additional capital ofRs 50,000 on 1
September 2021.Interest on capital is allowed @6%p.a.,Goods of Rs 25,000
were sold to Ram less 10% Trade discount on 20th April. Received a cheque
from Ram in full settlement'of his claim the same date. The insurance
premium was paid for insurance ofthe goods Rs 30,000on 25th April, of
which Rs 10,000 are for the next year. The cheque received.from Ram was
deposited in the bank on 30th April.
Read the passage and
1) Give journal entries to record the transactions with respect to
Cheque received from Ram.
2) Give journal entries to record the transactions with respect to
Cheque deposited for Ram
3) What is the amount of prepaid insurance. Journalise to record the
same in the books.
x(4) Compute the amount ofinterest on capital for the year ended 31
March 2022
Q30 Preparejournalfrom the following transactions given below: 6
1. Pass the opening entry for the following assets and liabilities on
1April 2020:
Assets: Cash 6000, bank Rs 20,000 Debtors Rs 40,000, Machinery Rs
3000 Liabilities: Creditors Rs 30000, Capital Rs 3,00,000
2. Rs 2000 due from Ram are now bad debts
3. Rita who owed business Rs 30,000 has failed to pay the amount She
pays a compensation of 45 paise in a rupee
4. Paid landlord by cheque for Rs 1,20,000 for rent. One third of the
building was occupied by the proprietor for residential use.
5. Cheque received from Shaman (a debtor )previously, dishonoured
Rs.10,000
6. Goods worth Rs 1,00,000 were destroyed by fire. Insurance company
admitted and paid claim for 60%
Page5of7
D e d
Ioo
6 oX bo,00D o,000
Sppfu s
12
Do oO 4o,000X
Q31 Show the accounting equation on the basis of the following transactions:
1. Started business with cash Rs 3,00,000and goods Rs 40,000
2. Purchased goods on credit Rs 5,00,000
out of it 20,000
3. Goods costing 50,000 sold at a profit of 25%
was
received in cash
4. Debtor became insolvent and could pay only
70 paisa in a rupee
5. Rent outstanding Rs 30,000
settlement of Rs 8000
6. Paid to creditors Rs 5000 in full
6
earned a total revenue of Rs 10,00,0000
Q32 In the financial year 2022-23, Ram
in cash. There was a credit sale of Rs
out of which Rs 4,00,000 was received
out of which Rs 3000
et 6,00,000 The total expenses paid were Rs 540,000 Determine
are still outstanding.
pertains to 2020-21.the expenses of Rs4000
Rams profit for 2022-23 as per
1. Cash Basis of Accounting
2. Accrual Basis of Accounting
000 and goods Rs 400000.He
Q33 Ram started business with capital of Rs 5,00, the
and used the amount to pay off
also sold his wife's gold for Rs 30,000
Rs 2,00,000 sold at profit
a of 1/4 of
creditors in business. Goods costing of was
cost and cash discount
allowed to customer 2%. Half of the payment
shown a contingent liability of Rs
received in cash. The business had ameunt of Rs
Balance Sheet. There w a s a n
2,00,000 as footnote after its withdrew from bank to pay
as rent outstanding
for the business. He
30,000
30000
his daughters fees for Rs
the above:
Answer the following questions after reading
of Ram
A) What is the opening capital
and cash
sold at a profit of 1/4 of cost
A B) Goods costing of Rs 2,00,000
customer 2%. Half ofthe payment
was received in cash.
discount allowed to
on the accounting equation
show the effect of this transaction
29 7S
of Rs 2,00,000 as footnote
The business had shown a contingent liability
C) Ram had prepared it's books by strictly following
after its Balance Sheet.
convention.
D)Define the term Current Liabilities
outstanding in the books:
rent
E) How will you categorise the subcategory of the classification.
Real, Personal, Nominal. Also mention
Rs 30,000
bank to pay his daughters fees for
F) He withdrew from in the books.
what is the term used to record this
20 DO O
Page 6 of 7
120
Q34 Pass the journal entries for Ram, Delhi for the following transaction. Show
the working notes clearly tor the amounts recorded in the journal (1.5*4)
plus IGST
1Sold goods to Amit, UP for Rs 200000 less 10% trade discount
and allowed 2%
@18%. Received half the amount by cheque immediately
cash discount.
2)Purchased goods from Sita Rs 40000 less 10% trade discount plus CGST
and SGST@9%each
discount plus
3)Purchased goods from Tahil of Rs 100000 less 10% trade
and availed 2%
CGST and SGST @9% each. Paid half the amount by cheque
cash discount
4)Sold goods to Vani for Rs 40000 less 10% trade discount plus SGST and
CGST @9% each
( p p
320
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