HALF YEARLY EXAMINATION - SEPTEMBER (2023-24)
GRADE 11 -ACCOUNTANCY
Name: Max Marks: 80
Class: XI Duration :3 Hrs
Sec: Date: 5/10/2023
General Instructions:
This question paper contains 9 printed pages with 34 questions. All questions are compulsory.
Question Nos.1 to 20 carries 1 mark each.
Questions Nos. 21 to 26 carries 3 marks each.
Questions Nos. from 27 to 29 carries 4 marks each
Questions Nos. from 30 to 34 carries 6 marks each
There is no overall choice. However, an internal choice has been provided in 7 questions of
one mark, 2 questions of three marks, 1 question of four marks and 2 questions of six marks
______________________________________________________________________________________
1 Which qualitative characteristic of accounting information requires the use of common unit and [1]
common format of reporting?
OR
Mukesh, a business man, had paid the house rent where he lives from the business. Is this a business
transaction? Give reason.
2 ………………….. users are groups outside the business entity, who uses the information to make [1]
decisions about the business entity.
3 Use of common unit of measurement and common format of reporting promotes [1]
(a) comparability
(b) understandability
(c) relevance
(d) reliability
4 Seema furniture house returned tables and chairs worth ₹ 1,10,000 to Mahesh furniture mart. [1]
Where would you record this transaction in subsidiary books?
OR
Purchase refers to the buying of-
(a) stationery for office use
(b) assets for the factory
(c) goods for resale
(d) investment
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5 If a film borrows a sum of money, there will be [1]
(a) increase in capital
(b) decrease in capital
(c) no effect on capital
(d) none of the above
6 Accounting measures the business transactions in terms of ……………….. units. [1]
OR
The accounting concept which suggested that each transaction should be recorded in the books of
account by supporting vouchers of transactions .
(a) objectivity
(b) dual aspect
(c) materiality
(d) consistency
7 Assertion(A): Accounting records only the transactions of financial nature. [1]
Reason (R): Goods taken from the business by the proprietor for his personal use is not of financial
nature and hence will not be recorded.
(a) Both A and R are true and R is the correct explanation of A.
(b) Both A and R are true 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
8 Debit Means [1]
(a) an increase in liability
(b) a decrease in asset
(c) an increase in asset
(d) an increase in capital
9 Assertion (A): Single Column Cash book with Bank Column will always show a Dr. balance [1]
Reason (R): Payments in the Cash column of Cash Book cannot be more than the opening balance
of cash and its receipts. In the context of the above statements, which one of the following is
correct?
Choose one of the correct alternatives given below:
(a) Both A and R are true and R is the correct explanation of A
(b) Both A and R are true 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
10 Assertion (A): Purchase account is credited when the proprietor withdrawal goods from [1]
the business for his personal use
Reason (R): Purchase account is credited because as a result of withdrawal of goods, net
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amount of purchase of the business is reduced
Choose one of the correct alternatives given below:
(a) Both A and R are true and R is the correct explanation of A.
(b) Both A and R are true 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.
11 Goods costing ₹20,000 is sold at a profit of 20% on cost and trade discount is allowed @ 10% and [1]
cash discount of 10% is also allowed. Half the payment was received at the time of sale. What is the
amount of cash received at the time of sale?
(a) ₹9,720
(b) ₹10,800
(c) ₹11,880
(d) ₹10,820
12 Which of the following is a contra entry? [1]
(1) Cash deposited into bank
(2) Cash sales deposited into bank immediately
(3) Cheque received from a customer and deposited into bank on the same day
(4) Cash withdrawn from the bank for office use.
Choose the correct option:
(a) Option 1 is correct
(b) Option 1 & 2 are correct
(c) Option 1 & 4 are correct
(d) Option 2 & 3 are correct
13 Under ………. feature of accounting, meaningful and sound judgment can be made about the [1]
profitability and financial position of the business.
14 What shall be the amount of capital if cash is ₹ 5,000; furniture ₹ 12,000; stock ₹ 30,000 and [1]
creditors ₹ 6,000?
OR
Write the entry for purchase of machine by cash.
15 Goods sold for Cash ₹ 25,000 plus 18% IGST. Sales A/c will be credited by: [1]
(a) ₹ 28,000
(b) ₹ 22,000
(c) ₹ 25,000
(d) None of these
16 When an account is said to have a debit balance and credit balance? [1]
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OR
A Ltd. imported one machinery from London for sale in India and other machinery for production
purpose. Will you treat them as goods or fixed assets?
17 Rule of Debit and Credit for impersonal account is______________________ [1]
OR
When a total of the debit side of an account exceeds the total of its credit side, the account is said to
have ________balance.
Read the following case study and answer questions:
Ram and Shyam are two friends who both have just attended their first class of accountancy. The
friends were intrigued by the different branches of accounting and their widespread application.
Ram personally liked the branch of accounting in which fund flow statement and budgetary control
is used and that branch helps in planning and controlling of operations. As the concept of
accounting was further explored, they began discussing the different users of accounting. Ram said
that he finds it interesting that even the employees demand information relating to business. Shyam
said he finds more interesting the fact that even competitors want information on the relative
strengths and weaknesses of the enterprise and for making comparisons, Shyam further said that
even accounting helps owners to compare one year’s costs, expenses, and sales with those of other
years. However, they were quite shocked by the fact that the management-worker relations were not
taken into consideration in the accounting. Meanwhile, Ram and Shyam had an argument at the end
of the discussion. Ram was saying that accounting is an art whereas Shyam was saying that
accounting is a science. Their teacher came in and said something to them which made them stop
the argument.
18 [1]
Shyam talked about which type of users of accounting?
(a) Internal users
(b) External users
(c) Both (a) and (b)
(d) None of these.
19 Which limitation of accounting is being talked about by them? [1]
(a) Influenced by personal judgment
(b) Omission of qualitative information.
(c) Incomplete information
(d) Based on historical costs
20 Which advantage of accounting is being talked about by Shyam in the last part of the first para? [1]
(a) Provides information regarding profit and loss
(b) Provides completes and systematic record
(c) Enables comparative study
(d) Evidence in legal matters
21 Pass Journal entry for purchase of goods by Amrit, Delhi from Add Gel Pens, Delhi for ₹ 15,000 [3]
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less Trade Discount 10% and Cash Discount 3%. CGST and SGST is levied @ 9% each. Assume
payment is made at the time of purchase. Show the working notes clearly.
22 Jitender purchased goods from Ramesh having list price of ₹ 5,000 on cash basis at 8% trade
discount and 5% cash discount. Half the amount was paid by him. What will be the amount of [3]
discount account in his books?
OR
From the following particulars, prepare the proprietor’s Capital Account:
1st April, 2022 − Commenced business with cash ₹2,00,000
31st March, 2023 − Net Loss as per Profit and Loss Account ₹18,000
31st March, 2023 − Drawings during the period ₹15,000
Balance the same and explain what the closing balance indicates.
23 Complete the following table: [3]
Rule-when it
Name of accounts (3 numbers) Nature of accounts
increases
1. Bills receivables, Stock, Debtors. ? ?
2. ? Expenses ?
3. ? Liabilities ?
24 [3]
What is contra entry? How can you deal with this entry while preparing double column cash book?
25 Match any of the three from the following: [3]
Column A Column B
1. Increase of assets & liabilities (a) Investment of capital in business.
2. Decrease of assets and liabilities (b) Drawings or expenses.
3. Increase of capital and assets (c) Payment of liabilities.
4. Decrease of capital and assets (d) Credit purchase of assets.
26 Explain reasons why users need accounting information. [3]
OR
Explain in brief any three objectives of accounting.
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27 Enter the following transactions in a petty cash book in analytical form. The book is kept on imprest [4]
system, amount of imprest being ₹ 5,000.
2022
April 3 Petty Cash in hand ₹ 420. Received cash to make-up the imprest.
Bought stamps for ₹ 300.
April 5 Paid for office cleaning ₹ 200 and repairs to furniture ₹ 250.
April 7 Paid bus fare ₹ 440, railway fare ₹ 330, wages ₹ 200.
April 8 Paid for charity ₹ 350
April 9 Bought shorthand note book for office ₹ 250, Carriage on parcels ₹ 280.
April 10 Bought envelopes ₹ 450, served refreshment to customers ₹ 150.
April 12 Paid for conveyance ₹ 300. Wages ₹ 200. Stapler pins ₹ 280.
April 15 Gave tips to office peon ₹ 250.
28 Prepare accounting equation on the basis of the following: [4]
(a) Harsha started business with cash ₹ 2,00,000
(b) Purchased goods from Naman for cash ₹ 40,000
(c) Sold goods to Bhanu costing ₹ 10,000/- ₹ 12,000
(d) Bought furniture on credit ₹7,000
29 Pass entries in the books of Devdhar & Bros. Odisha, assuming all transactions have been entered within [4]
the state, charging CGST and SGST @ 9% each:
2022
Mar-04 Purchased goods for ₹ 5,00,000 from Sing Bros.
7 Goods returned to Sunil Bros. for ₹ 20,000
10 Sold goods to Mehta & Co. for ₹ 8,00,000
12 Goods returned by Mehta & Co. for ₹ 30,000
OR
Journalise the following entries:
(i) Goods worth ₹ 500 given as charity.
(ii) Sold goods to Mayank of ₹ 1,00,000, payable 25% by cheque at the time of sale and balance after 30
days of sale.
(iii) Received ₹ 975 from Hari Krishna in full settlement of his account for ₹1,000.
(iv) Received a first and final dividend of 60 paise in a rupee from the official receiver of Rajan, who
owed us ₹ 1,000.
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30 Prepare the trial balance [6]
Account ₹ Account ₹
Capital 24,000 Building 12,000
Opening stock 8,500 Returns inward 1,900
Furniture 2,600 Returns outward 350
Purchases 8,950 Trade expenses 1,000
Cash 7,300 Discount received 970
Carriage 300 salary 3,000
Sales 22,500 Office rent 2,270
31 Answer the following questions: [1+1+4]
(a) Proprietor of the business is treated as a creditor to the extent of his capital under which concept
of accounting?
(b) Land and building are shown at ₹ 10 lacs in the Balance Sheet of the business owned by Mr.
Yuvraj. However, as per the certificate of Govt approved valuer the realisable value of land and
building is ₹ 200 lacs. Mr.Yuvraj wants to show the land and building at this value in his
books. Can he do so? Explain.
(c) Briefly describe the concepts of “Going concern and Prudence.”
32 On the basis of the narrations, fill in the missing values: [6]
Journal Entries
L.F Amount Amount
Date Particulars
. (₹) Cr. (₹)
___?_____ Dr. ____?___
___?_____ ____?___
(i) To ____?____ ___?_____
(Being the bank draft of ₹ 10,000 issued
to Suman, bank charges ₹ 100)
? Dr. ______?_
To ________ ? _____?___
(ii) To ________ ? _____?__
(Being the purchase of goods of ₹
30,000; received cash discount @ 2%)
________? Dr. ______?_
________ ________
To _____?___ ______?__
(iii)
(Being the sale of goods of ₹ 30,000
allowed cash discount @ 3% )
(iv) ________? Dr. ___?____
To _____?___ ___?_____
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(Being the goods costing ₹15,000 lost in
the fire)
________? Dr. ________
________ ________
(v) To ______?__ 10,000
(Being the rent paid, 1/4th of the
premises used for residence)
________? Dr. 20,000
To ______?__ 20,000
(vi) (Being a computer out of stock used for
office purposes)
________ Dr. ________
___?_____ Dr. _____?__
To ________? _?_______
(vii)
To ________? __?______
(Being the salaries (₹40,000) and rent
(₹15,000) outstanding)
33 Enter the following transaction in a double column cash book of Smart life traders for January 2022: [6]
1 Cash in hand ₹3,500
Bank overdraft ₹2,300
3 Goods purchased for cash ₹1,200
5 Paid wages ₹200
10 Cash sales ₹8,000
15 Deposited into bank ₹6,000
22 Sold goods for cheque which was deposited into bank same day ₹2,000
25 Paid rent by cheque ₹1,200
28 Drew from bank for personal use ₹1,000
31 Bought goods by cheque ₹1,000
OR
M/s Rai trader started their cash book with the following balances on July 2022: cash in hand
₹1,354 and balance in bank account ₹ 7,560. He had the following transaction in the month of July,
2022:
2022 July
3 Cash sales ₹2,300
5 Purchased goods, paid by cheque ₹6,000
8 Cash sales ₹10,000
12 Paid trade expenses ₹700
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15 Sales goods, received cheque (deposited same day) ₹20,000
18 Purchased motor car paid by cheque ₹15,000
20 Cheque received from Manisha (deposited same day) ₹10,000
22 Cash Sales ₹7,000
25 Manisha’s cheque returned dishonored
28 Paid Rent ₹2,000
Prepare bank column cash book
34 Prepare the subsidiary books from the following transactions [6]
2022
Jun-07 Purchased from Arora & Co., Nai Sarak
10 Chairs @ ₹ 200 each
1 Table for ₹ 600
Trade discount 10%
Jun-10 Sold to Sudha Furniture Co., Agra
2 Almirahs @ ₹ 2,000 each
Less : 15%
Jun-12 Sold to Meera Mart for cash
10 Tables @ ₹ 1,000 each
Jun-15 Purchased from Hira Lal & Sons for cash
15 Chairs @ ₹ 350 each
Jun-16 Purchased from Fateh Chand & Co., Delhi
5 Chairs @ ₹ 180 each
Jun-25 Sold to Ravi Sharma, Delhi
2 Dining Tables @ ₹ 6,000 each
Less : 10%
OR
Explain any six principles of accounting.
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