ACCOUNTANCY- XI

SAMPLE PAPER
ANNUAL EXAMINATION 2024-25

Q1. Madhav keeps his records on Single Entry System. His opening capital was Rs. 40,000 and closing 1
capital during the year was Rs. 65,000. He failed to make necessary adjustments for outstanding
salary and prepaid insurance Rs. 800, his profit during the year will be:
a) Rs. 26,200
b) Rs. 23,800
c) Rs. 25,000
d) None of these
Q2. A liability, the happening of which is uncertain is called _____ liability. 1
a) Current
b) Non-current
c) Contingent
d) Internal
Q3. If Adjusted Purchases appear in the Trial Balance, then Closing Stock appears on_____ 1
a) credit side of Trading Account
b) asset side of Balance Sheet
c) Both (a) and (b)
d) Debit side of Trading Account
Q4. Provision is a ______. 1
a) Charge against profit
b) Appropriation of profit
c) None of these
d) Both of these
Q5. If the amount of known liability can be determined accurately,……….. 1
a) A liability be created
b) A provision be created
c) A reserve be created
d) A contingent liability will be disclosed
Q6. Which of the following error will be disclosed by Trial Balance? 1
a) Paid rent Rs. 2,500 to landlord has been debited to him
b) Wages paid Rs. 1,000 for installation for plant has been debited to Wages A/c
c) Discount allowed to a customer Rs. 250 has been credited to him Rs. 520.
d) Bought table and chair for office use Rs. 10,000 passed through purchase book.
Q7. If ‘Asset Account’ is always shown in the balance sheet on the asset side at its original cost, the 1
correct journal entry for depreciation in this case would be____.
a) Depreciation A/c Dr.
To Asset A/c
 b) Depreciation A/c Dr.
To Provision for Depreciation a/c
c) Provision for Depreciation A/c Dr.
To Asset A/c
d) Provision for Depreciation A/c Dr.
To Depreciation A/c

Q8. Match the correct pair: 1

i) Art of recording and classifying the A) Accountancy
business transactions.
ii) Systematic knowledge of the principles B) Accounting
and technique applied in accounting.
iii) It is analytical in nature as it requires C) Bookkeeping
analytical skills to perform this function.
a) i)-B, ii)-C , iii)-A
b) i)-C, ii)-A , iii)-B
c) i)-B, ii)-A , iii)-C
d) i)-A, ii)-B , iii)-C
Q9. Which of the following is NOT true for current assets? 1
a) It is expected to be realized in or intended for sale or consumption in the company’s normal
operating cycle.
b) It is held for trading
c) It is expected to be realised after 12 months from reporting date
d) It is cash or cash equivalent
Q10. Statement I- Assets which have no physical appearance are known as Intangibles. 1
Statement II- Intangibles are not depreciated as they cannot be seen or touched.
a) Only I is correct
b) Only II is correct
c) Both I and II are correct
d) Both I and II are incorrect
Kuldeep, a sole trader who deals in electronic items purchased premises worth Rs. 55,00,000 and
Fixtures and Furniture Rs. 5,00,000. He purchased Hot water Geysers worth Rs.8,50,000 and Table
Fans worth Rs. 6,50,000 on credit from Giriraj electronics. Geysers worth Rs. 40,000 and Table Fans
worth Rs. 50,000 were found defective and a debit note was issued in favour of Giriraj Electronics.
Read the above paragraph and fill in the blanks given below of Q11 and Q12.
Q11. ……………………………… A/c Dr. …………. 1
To ……………………. A/c ……………….
(Depreciation charged on fixed assets @10% )
1
Q12. ……………………….. A/c Dr. …………..
To …………………………. A/c ………………….
(Goods returned being defective)
1
Q13. “Often some of the fixed assets become out of fashion due to technological developments. Thus,
their useful life to entity is reduced considerably than their physical life.” Identify the cause of
depreciation discussed in these lines. Write any other two causes.
Q14. Furniture purchased by Krishna Stationers on credit of 1 month will be recorded in: 1
 a) Purchase Book
b) Cash Book
c) Journal Proper
d) Petty cash book
Q15. On 1st May, 2024 Mr. Sudhir Kumar purchased goods from Mr. Saksham Dass on credit for Rs.50,000. 1
On 7th May, 2024 Mr. Sudhir Kumar returned 30% of the goods purchased and issued a document in
favour of Mr. Saksham Dass. Identify this document.
a) Debit Note
b) Credit Note
c) Debit Voucher
d) Credit Voucher
Q16. Depreciation on fixed assets is charged based on _____ 1
a) Going Concern Assumption
b) Matching Concept
c) Consistency Assumption
d) Business Entity Assumption
Q17. ________ basis of accounting suffers from personal judgement. (Cash/Accrual) 1
Q18. Write a transaction which lead to ‘Increase in one liability while decrease in other liability.’ 1
Q19. Ledger is a : 1
a) Book of Original Entry
b) Principal book
c) Subsidiary Book
d) Special Purpose Book
Q20. A machine was purchased on 1st October, 2020 for Rs. 1,30,000 and spent Rs. 20,000 for its 1
overhauling. On 1st July 2023 this machine was sold for Rs. 85,000. Depreciation was written off By
Fixed Installation Method @ 10% p.a. Pass a Journal entry for sale of machine as on 1 st July, 2023.
Q21. Identify and explain the accounting concept/ principle discussed in the given situations. 3
a. A Debtor who owes Rs. 2,00,000 to the firm is rumoured to be declared insolvent. The firm
disclosed this information in the books.
b. Goods withdrawn by the proprietor for personal use are recorded in the books and firm charged
interest on such drawings.
c. The calibre and quality of management is not recorded in the books.
Q22. Enter the following transactions in the petty cash book of Piyush Gupta with appropriate analysis 3
column. The imprest money paid fortnightly to the petty cashier was Rs.5,000.
May 1 Received from cashier Rs. 4,720 , the amount required to make up the amount
of the imprest money.
Purchased stamps Rs. 400
Paid for carriage Rs. 300
May 3 Paid for office cleaning Rs. 200
Paid for wages Rs. 250
Paid for railway fare Rs. 350
Paid bus fare Rs. 400
May 8 Paid for wages Rs. 150
Paid for envelopes Rs 50
Paid for repairs Rs. 120

Q23. Yogesh commenced business on 1st April, 2023 with a capital of Rs. 5,00,000 and a loan of Rs. 3
1,00,000 borrowed from SBI. On 31st March, 2024 his assets were Rs. 8,00,000. Calculate his closing
 capital and profits earned during the year.
Q24. The following balances appear in the books of Jupiter Ltd. as on 1st April, 2023. 3
Machinery Account Rs. 5,00,000
Provision for Depreciation Account Rs.2,25,000
The machinery was depreciated @10% p.a. on the fixed instalment method. The accounting year
ends on 31st March every year. On 1st October, 2023, a machinery which was purchased on 1st July,
2020 for Rs.1,00,000 was sold for Rs.42,000 and on same date a fresh machinery was purchased for
Rs.2,00,000.
Prepare Machinery account and Provision for Depreciation account.
Q25. From the following particulars, prepare a Bank Reconciliation statement in the books of Shri Girdhar 3
as on 30th June, 2024.
i. Debit balance as per Pass Book on 30th June 2024 Rs. 6,000.
ii. Out of total cheques amounting to Rs. 37,500 drawn by Shri Girdhar, Cheques aggregating Rs.
5,000 were encashed in June 2024, Cheques aggregating Rs. 4,000 were encashed in July 2024 and
rest have not been presented at all.
iii. Bank has charged Rs. 270 as its commission for collecting outstation cheques and has collected
dividend Rs. 330 on his investments.
Q26. a. From the following figures calculate operating profit: 3
Particulars Rs.
Net profit 1,00,000
Rent Received 10,000
Gain on sale of machine 15,000
Interest on loan 20,000
Donation 2,000
Salary 10,000
b. Calculate closing stock.
Opening stock Rs. 20,000; Revenue from operations Rs. 1,00,000; Purchases Rs. 70,000; Gross Profit
on cost 33 1/3 %.
Q27. Following incomplete information is available from records maintained by Mr. Rohan Sharma. 4
1-4-2023 31-3-2024
Cash 1,000 1,500
Bank 8,000 10,000
Debtors 10,000 12,000
Stock 7,000 6,000
Machinery 20,000 20,000
Creditors 11,000 10,000
Bank Loan 12,000 12,000
Mr. Rohan sold his investments of Rs. 10,000 at a premium of 5% and invested. Rent of personal
property was paid @1,250 per month. Prepare a statement to calculate profit/loss during the year.
Q28. The following Trial Balance has been prepared by an incompetent person. Draw up a correct Trail 4
Balance.
Name of Account Dr. Balance Cr. Balance
Opening stock 5,40,000
Closing Stock 7,15,000
Goods Brought 41,40,000
Goods Sold 60,00,000
Return Inwards 80,000
Return Outwards 62,000
 Carriage Outwards 2,000
Fixed Assets 35,00,000
Rent Paid 64,000
Fuel 15,000
Rent of Premises sub-let to Dheeraj 24,000
Loan taken from ICICI 8,00,000
Capital 96,000
Interest on loan taken 12,00,000
Income Tax 40,000
Rates 3,000
Customer’s Accounts 3,88,000
Suppliers’ Accounts 3,10,000
HDFC Bank(Overdraft) 5,25,000
Interest on Bank Overdraft 54,000
Apprentice Premium 1,000
Suspense Account (Difference) 7,000
92,83,000 92,83,000
Q29. Trial Balance of Kohli did not agree and showed an excess debit of Rs. 16,300. He put the difference 4.
to Suspense Account and discovered the following errors:
a. Cash received from Rajat Rs. 5,000 was posted to the debit of Kamal as Rs.6,000.
b. Goods sold to Madan Rs. 4,500 and Mohan Rs. 5,500 were posted as Rs. 6,500 and 4,500
respectively.
c. Goods purchased from Arvind Rs.1,750 was posted to debit of his account.
d. Machinery bought on credit for Rs. 7,500 was passed through Purchase book.
e. Rs. 8,700 received from Keshav which were recorded as bad earlier were credited to his personal
account.
f. Goods withdrawn by proprietor of Rs. 1,300 for personal use were credited to Sales account.
You are required to Pass rectifying entries and Prepare Suspense Account.
Q30. Pass Journal entries for the following transactions in the books of Tarun. 6
a. Purchased goods costing Rs. 60,000 from Jitesh, 10% trade discount and 20% cash discount. Paid
entire amount by cheque drawn on saving bank account. (IGST 12%)
b. Sold goods costing Rs. 15,000 at a profit of 25% on sale. (CGST and SGST @ 6% each)
c. Plant purchased for Rs. 60,000 from Sameer Gupta. Paid 60% of the cost by cheque. Wages paid
for its installation Rs. 5,000 in cash.
d. Cash received from salesperson Rs. 41,300 including CGST and SGST of 9% each.
e. Cheque received from Banerjee of Rs. 15,000 was dishonoured. Bank charged Rs. 150 which was
claimed from him.
f. A cheque received from Himesh Rs. 4,560 in full settlement of his account of Rs. 4,600 was banked
next day.
Q31. Prepare Double column cash book in the books of Shantanu Mishra. 6.
2023
Feb.1 Bank overdraft Rs.12,000
Cash-in-hand Rs.2,300
Feb 5. Purchased goods for Rs.40,000; Trade discount 15%
Feb 6. Sold goods for Rs.30,000; Trade discount @10%
Feb 7. Cheque received from Apex Furnitures Rs. 4,000
Discount allowed Rs.200
Feb 9. Cheque received from Apex Furnitures deposited in bank
 Feb 12. Cheque paid to Nimesh Bros.Rs. 2,500
Discount received 50
Feb 15. Apex Furnitures cheque dishonoured.
Feb 20. Money withdrawn from bank for office use 3,400
Feb 23. Fees of children paid by cheque from business account 75
Feb 25. Cheque received from Hemendra and endorsed it to Sanjana 4,500
Feb 27. Bank Charges 20
Feb 31. Paid into Bank the entire balance after retaining Rs. 700 at office
Q32. Green Limited was dealing in engineering products since ages. They decided for expanding their 6
existing products segment. For the same they purchased on 1st April, 2020 a plant for Rs. 80,000. On
1st July, 2021, they purchased additional Plant costing Rs. 48,000. On 1st December, 2022, the plant
purchased on 1st April, 2020 broke down was sold off for Rs. 42,000 and on the same date fresh
plant was purchased at the cost of Rs. 75,000.
Depreciation is provided at 10% per annum on the Diminishing Balance Method every year.
Accounts are closed each year on 31st March.
On the basis of given information, answer the following questions:
i. Find the book value of machine as on 31st March, 2021.
ii. Calculate the profit/loss on sale of plant on 1st December, 2022.
iii. Depreciation is a _____ account in nature.
iv. What will be the balance of Plant account as on 31st March, 2023?
v. Which accounting concept is used for accounting of Plant account?
vi. Plant will be classified under _________ .
a. Tangible fixed asset c. Fictitious asset
b. Current asset d. Intangible Fixed asset
Q33. Prepare Profit and Loss and Balance Sheet from the following trial balance as at 31 st March, 2024 in 6
the books of Lala Pratap Traders.
 Additional information:
a. Commission includes Rs. 3,000 received in advance.
b. Salaries have been paid for 11 months.
c. Bank loan has been taken at 10% p.a. interest.
d. Depreciate building by 5% and Motorbike by 15%.
e. Write-off Rs. 2,000 as bad debts and provision for Doubtful Debts is to be maintained at
5% on Debtors.
Q34. Record the following transactions in the Sales Book of Durga Electronics, Lucknow. 6

Also Prepare Sales Account. CGST and SGST applicable @

2023
March 1 Sold to Ruchira Electronics, Lucknow, vide invoice No. 123
5 BPL T.V. @ Rs. 20,000 each.
Less : Trade Discount @ 20%.
March 2 Sold to Garun Electronics, Kanpur, vide invoice No. 124
10 Washing Machines @ Rs. 8,000 each.
Less : Trade Discount @ 25%.
March 3 Sold to Hira Bros, Pune, vide Cash Memo No. 125
15 BPL Mixture & Juicer @ Rs. 2,000 each.
Less : Trade Discount @ 10%.
March 4 Sold to Rahat Electronics, Varanasi , vide invoice No. 126
8 Music System @ Rs. 15,000 each.
10 Colour T.V. Sets @ Rs. 22,000 each
Less : Trade Discount @ 20%.