DELHI PUBLIC SCHOOL- ROHINI

ANNUAL EXAMINATION
SESSION 2023-24
CLASS XI
ACCOUNTANCY
SET B

Duration 3 Hours Max. Marks: 80

No.of P.S. 07
General lnstructions:
Attempt all parts of the question together.
Marks are indicated against each question.
Give working wherever
necessary.
1 Debit Balance of a Real Account shows 1
A) Profit
B) Loss
C) Asset
D) Lliability
2 Cash Book is
1
A) Aprincipal book
B) A subsidiary book
G) Both a principal book and a subsidiary book
D) Afinancial statement

3 Rajat is an authorized car dealer for Hyundai Motors. Which of the following is not a
business 1
transaction
A) Purchase of carsfrom the Hyundai Motors for 5,00,00,000
B) Sale of cars for 8,00,00,000
C) Sale of personal car for 4,00,000
D) Car of6,00,000 gifted to acontestant of a music show.

4 Debit balance of Profit and Loss Account is a 1

A) Fixed Intangible Asset
B) Fixed Tangible Asset
C} Current Asset
D) Fictitious Asset

The rule of Debit / Credit for Personal Accounts is 1

A) Debit what come in and Credit what goes out
8) Debit the receiver and Credit the giver
C) Credit what come in and Debit what goes out
D) Credit the receiver and Debit the giver

P.S. 1 of7
 6 Assertion (A): Provisions are made for future expected losses. 1
Assumption.
Reason (R): Provisions are made as per the Going Concern
In the context of above two statements, which of the following is correct?
A) Both (A) and Reason (R) are correct and (R) is the correct explanation of (A).
B) Both {A)and Reason (R) are correct but (R) is not the correct explanationof (A).
C) Only (A) is correct
D) Only (R) is correct
7 Assertion (A): 10,000were spent on repairs of second-handmachines acquired to make them 1

ready for use.Such expenses willbe treated as capital expenditure.

Reason (R): A
revenue expenditure is incurred to increase the earning capacity of the business.

Inthe context of above two statements, which of the following is correct?

A) Both (A) and Reason (R) are correct and (R) is the correct explanation of (A).
B) Both (A)and Reason (R) are correct but (R) is not the correct explanation of (A).
C) Only (A)is correct
D) Only (R)is correct

Operating Profit is equal to 1

A) Gross Profit + Operating lncomes- Operating Expenses
B) Gross Profit - Operating Incomes + Operating Expenses
C) Net Profit - Operating Incomes + Operating Expenses
D) Net Profit + Non Operating Incomes- Non Operating Expernses
9 Non-Current Liabilities do not include
A} Bank Loans
B) Bonds
C) Debentures
D) Interest Outstanding on Debentures

10 Reserves are made to 1

A) Provide for unknown gains

B) Provide for known profits
c) Provide for unknown profits
D) Strengthen the financial position

11 Financial Statements do not comprise of 1

A) Trial Balance
B) Statement of Profit and Loss
C) Balance Sheet
D) Both Statement of Profit and Loss andBalance Sheet

P.S. 2 of 7
 Atrader made the
following
Goods sold to Amar transactions.
20,000
1

Goods sold to Balbir for cash 30,000

Goods sold to Chirag on credit 40,000
Machinery sold to Deepak on credit 50,000
The total of Sales book on the basis of these
A) 60,000 transactions will be
B) 90,000
C) ? 30,000
D) 1,40,000

13 Classification of assets and liabilities under a particular head is known as 1

A) Marshaling of Assets and Liabilities
B) Grouping of Assets and Liabilities
C) Segregation of Assets and Liabilities
D) Aggregation of Assets and Liabilities

14 Which of these is a fundamental accounting assumption 1

A) Prudence
B) Materiality
Cj Consistency
D) EntityY

15 Posting a wrong amount on the wrong side of another account is an example of 1

A) Error of Omission
B) Error of Principle
) Error of Commission
D) Compensating Error
16 The accountswhich are carried forward to the next accounting year are 1
A) Liabilities Account
B) Expense Account
C) Revenue Account
D) BothExpense and Revenue Accounts

17 When a trader sells goods on cash, he prepares 1

A) Transfer Voucher
B Credit Voucher
C) Debit Voucher
D) Debit Note

18 1
A Trial Balance is
accounts
A} Astatement to ascertain the arithmetical accuracy of
arithmetical accuracy of accounts
B) An account to ascertain the business
performance of the
C) An account to ascertain the financial
financial position of the business
D) Anaccount toascertain the
P.S. 3 of 7
 1
19 Commission received in advance will result in
A) Increase in Capital and Decrease in Capital
B) Increase in Asset and Decrease in Asset
C) Increase in Capital and Increase in Asset
D) Increase in Asset and Increase in Liability
1
became insolvent and only 60 paise in a
d(debtor) owed the business a certain amount. He
20
amount
TOpee could be recovered from him. The amount received was7.200. What was the
owed by Sonu to the business
A) 24,000
B) 18,000
C) 12,000
D) 36,000
21 3
Mohan Das submits you the following particulars for the year ending 31st March, 2023:
Particulars
Cash Sales 11,00,000
Credit Sales 3,00,000
Cash Purchases 5,00,000
Credit Purchases 3,75,000
Expenses paid (including? 7,500 paid in advance) 2,00,000
Expenses due but not yet paid 37,500
Income received 1,00,000
Income received in advance (included in above 1,00,000) 5,000
Income due but not yet received 14,000
Determine his net profit or loss if he adopts
A) Accrual Basis of Accounting
B) Cash Basis of Accounting

Give an example for each of the following type of transaction. 3

A) Increase in Asset and Decrease in Asset
B) Decrease in Asset and Decrease in Capital
C) Decrease in Asset and Decrease in Liability

23 Complete the blanks 3

A) = Net Sales + Gross Loss
B) = Accounts Payable + Notes Payable
C) eeeeogeee ese eseeeees = Book Debts + Notes Receivable

24 Explain the following and give an example for each. 3

A) Contingent Liability
B) Errors of Principle
C) Livestock

P.S. 4 of 7
 Give Journal Entries for the
25
following
A) Sold goods of list price transactions
F 50.000 3
to Pope at a trade
5%. Received 60% of the amount due from him discount 10% and cash discount of
of
B) ABil Receivable (accepted by Stokes) of immediately.
40,000 which was discounted from bank is
dishonoured. Dishonour charges? 500.
C) Goods costing30,000 sold to Butler at a
profit of 20% on sales.
26 State any three objectives of accounting.
3
27 Explain the following with example
a) Going Concern 4
Assumption
b) Materiality Principle
28 From the following information, prepare a Cash Book for the month of
January 2024 4
01.01.24 Cash in Hand 15,000 and Cash at Bank (Cr.) R5,000.
02.01.24 Deposited in bank 10,000.
05.01.24 Purchased goods from Zubin for Cash 2,000.
08.01.24 Sold goods to Yasin for cash 8,000.
09.01.24 Purchased goods from Wazir9,000
10.01.24 Sold goods to Usma 10,000
10.01.24 Paid to Wazir5,000 in part settlement of his account.
16.01.24 Cleared account with Wazir's by cheque after receiving a discount of f 400.
17.01.24 Cheque received from Usma 4,000 in part settlement of her account.
21.01.24 Usma's cheque was dishonoured. Dishonour Charges? 200.
28.01.24 Usma cleared her account in full by cash.
29.01.24 Paid Office expense 500.
31.01.24 Deposited the entire cash into bank after retaining 700.
29) Calculate the value of Operating Profit or Loss with the help of the following information 4
Particulars
Sales 6,00,000
Change in Inventory 7,00,000
Purchases 90,000
Wages 10,000
Salaries 20,000
Loss by fire 5,000
Interest Received on Investments 15,000

30 Rectify the following 6

a) Cash purchases from Adarsh 10,000 posted as 1,00,000.
b) Goods sold to Baldev 20,000 entered as 2,000.
c) Goods returned to Chandant30,000were passed through the Return InwardBook.
d) Cash received from Darpan4,000 is credited to Damanpreet Account as 40,000
e) Goods sold to Faizal 50,000 is passed through the Purchases Book for 5,000.
f) Return Outward Book is overcast by 6,000.
P.S. 5 of 7
 are
has an overdraft of6,000 as shown by her Cash book. Following facts
31 On 31.01.2024 Enaya
given by her:
5,000 have been deposited into the bank but of these cheques of
a) Cheques amounting to 3rd February 2024.
?2,000 were credited in the pass book on
10,000 out of which cheques of 6,000 were
b) She had issued cheques amounting to
presented for payment on 2nd February 2024.
cash book. This cheque was not
c) Acheque of 1,500 issued had been credited twice in the
presented for payment till 31 January 2024.
a) Acheque of R4.000 received was not recorded in the cash book.
e) Abillreceivable of 10,000 discounted from the bank was recorded in the cash book
without the discounting charges of 1,000.
Prepare a Bank Reconciliation Statement as on 31.01.2024.
32 Youare given the following balances as on 1.4.2022. 6
Machinery Account 3,50,000
Provision for Depreciation Account 1,02,100
Depreciation charged on machinery @10% p.a. on Written Down Value Method.
A piece of machinery purchased on 1.4.2019 for 1,00,000 was sold on 01.10.2022 at a loss of
20% on book value.
Prepare for the year ended 31st March 2023:
Machinery Account
Accumulated Depreciation Account.
Machinery Disposal Account
33 From the following information calculate 6
a) Cost of Goods Sold,
b Gross Profit/Loss,
Net Sales,
d) Operating Cost,
e) Operating Profit/Loss
f) Net Profit/Loss.

Particulars
Adjusted Purchases 9,90,000
Wages 2,60,000
Gross Profit 20% on sales
Office and Administrative Expenses 80,000
Selling and Distribution Expenses 55,000
Depreciation 15,000
Interest Paid on Loans 17,000
Interest Received on investments 21,000

P.S.6 of7
 6
From the gven Irial Balance of a sole proprietor as on 31.03.2023, prepare Trading and Profit
and Loss Account for the year ending 31.03.2023 and a Balance sheet as at that ddte
TRIAL BALANCE AS ON 31.03.2023
NAME OF ACCOUNT Dr. Cr.
Stock 01.04.2022 20,000
Purchases and Sales 2,40,000 6,45,000
Returns 40,000 45,000
Cartage 20,000
Wages 3,60,000
Cash 1,90,000
Debtors 4,00,000
Creditors 1,00,000
Furniture 1,00,000
Freehold Property 17,00,000
1,00,000 26,00,000
Drawings and Capital
Bank Overdraft 1,80,000
4,00,000
10% Loan (01.01.2023)
Interest on Loan 5,000
Miscellaneous Expenses 4,55,000
Insurance Premium 6,40,000
Rent 9 3,00,000
42,70,000 42,70,000
Additional information:
Closing Stock was valued at 1,20,000.
Purchases include purchase of two computers for?80,000 on 01.07.2022
Rent has been received for two years.
Insurance Premium includes an annual premium of 90,000 on a policy expiring on
30.09.2023.
. Write off further bad debt 50,000
YCreate a provision for doubtful debts @ 10% on debtors.
Provide for a Manager's Commission @ 10% on Net Profit before charging such
commission.