Vidya Mandir Senior Secondary School

First Terminal Examination - Sep 2023

STD: 11
TIME: 3 HOURS
MARKS:80 SUB: ACCOUNTANCY
General Instructions:
1. Answer all the questions
2. Marks are indicated in each section.
3. Working notes are mandatory.
4. No. of printed pages 5
SECTION A 1 x 20 = 20

1. The main objective of preparing a Trial Balance is

a) to prepare the final account b)to check the arithmetical accuracy of accounts
c) to rectify the errors d) to ascertain the profits
2. When Goods are Lost by Fire, Loss of fireaccount is debited with
a) Cost of goods sold b) Cost of Goods sold plus profit
c) Cost of Goods purchased d) Cost of Goods sold less profit
3. Posting of transactions means
a) Entering the transactions in Journal b) Entering the transactions in Ledger
c) Entering the transactions in Trial Balance d) None of the above.
4. Ram commenced the business on 1 April 2022 with a Capital of Rs.5,00,000. On 31*
March 2023, his Assets are Rs. 15,00,000and Liabilities are Rs.4,00,000. Find out his closing
capital.
a) Rs. 10,00,000 .b)Rs. 11,00,000 c) Rs. 16,00,000 d) Rs.9,00,000.
5. Payment to a Creditor means
a) Increase in asset and decrease in Liability.
b) Decrease in asset and decrease in Liability
c) Decrease in asset and Increase in Liability
d) Increase in asset and Increase in Liability
6. XY Lid follows the witten down value method of depreciating machínery year after year due
to

a) Comparability b) Convenience ) Consistency d) Allof these.

7. According to which of the following concepts, even the proprietor of a business is treated as
creditor to the extent of his capital?
a) Money Measurement concept b) Dual aspect concept
c) Cost Concept d) Business Entity concept
8. Decrease in book value of an asset due to its use or obsolescence
a) Amortisation b) Depreciation c) Net Loss d)None of the above.
Transactions are posted into the Ledger Accounts from
a) Vouchers b) Journal book c) Bank Statements d) All of the above.
10. Which external user of accounting information is most interested in knowing the long-term
solvency position of the firm?
"a) Employees b) Management c) Bank and Financial institution d) Researchers
 u When a firm maintains Two coloumn Cash Book it does not mainte:
a) Purchase book b)Sales Book
d) Bank and Cash accounts in the Ledger
c) Jourmal proper
posted to
12. Contra entries on the debit side of the cash book are
b) Debit of Cash account in the Ledger
a)Debit of Bank account in the Ledger
c) Credit of Cash Account in the Ledger -d) Not posted in the Ledger
13 Xwho owed Rs.25,000 became insolvent. 80 paise in a Rupee was received from his estate
bad debts Account will be debited by

a) Rs. 20,000 b) Rs.5,000 c) Rs. Rs. 25,000 d) Rs.15000

14. Debit means
a)an increase in asset b) an increase in liability
c) an increase in proprietor's equity d) decrease in asset
" 15. Goodwill is a/an
"-a) Tangible Asset b) Intangible Asset c)Current Asset d) Fictitious Asset.
Give an example for Q16 & Q17
16. Increase in Asset, Increase in Liability
17. Decrease in Liability, Increase in owners's capital
From the following list answer Q18-Q20
i) Plant and Machinery ii) Bank Loan ii)Sales iv) Rent
v) Discount received vi) Wages vii)Goodwill viii) Accrued Income
ix) Advance Income x) Purchases xi) Capital xii) Outstanding expenses.
18. Identify the Assets & Capital
19. Identify the Liabilities
20. Identify the Reveue &Expenses
SECTION B 3x6=18
21. Explain the following:
a) Full disclosure Concept "b) Conservatism c) Materiality Concept
22. Define Accounting. Explain any two limitations of accounting.
23. What is compound Journal Entry? Give an example.
24. Ramesh a Chartered Accountant, during the financial year 2020-21 earned Rs.5,00,000. Out
of which he received Rs. 4,50,000. He incurred an expense of Rs.2,30,000, out of which
Rs.50,000are outstanding. He also received consultancy fee relating to previous year
Rs.40,000and he paid Rs.25,000 expenses of last year.
Calculate his income for the year if
a) if he follows Cash basis of Accounting
b) if he follows Accrual basis of Accounting.
25. On 1 April 2023, the position of Bhart Bros. Delhi was as follows:
Cash in hand Rs.6,000, Cash at Bank Rs. 25,000, Stock Rs.9,000, Machinery Rs. 15,000
Furniture Rs.18,000, Anitha Rs. 15,000(Debtor), Neeraj Rs.25,000 (Debtor),
Loan Rs.50,000 Raghu (Creditor) Rs. 10,000.
Pass the opening entry.
 6. Explain the uses of accounting information to the
following parties:
i)Owners i) Creditors ii) Employees
SECTIONC 4x3 =12
27. From the following information, prepare an analytical petty cash book:
2021 Rs.
APRIL
Received cash from cashier 20,000
2 Paid for postage 1,600
Paid stationary 1,000
12 Paid for wages 800

20 Paid for carriage 600

25 Paid for conveyance 880

28 Paid for travelling expense 3,200

29 Paid for office cleaning 400

30 Paid for courier. 800

30 Sent registered notice to landlord 190

Z8. PreYafe [ingle column cash book for the month of April, from the following transactions of
Amitabh of Chennai:
2021 Rs.

April 1 Cash in hand 25,000

April 5 Cash sale 3,20,000
April 8 Deposited cash in bank 2,00,000
April 15 Issued cheque to a creditor for Rs.49,900
April21 Wages paid in cash. 22,500
April 25 Cash sales 1,80,000
April 27 Purchased goods for cash 1,50,000
April 30 Paid cash for Transport expenses 45,000

From the following information, draw up a Trial balance in the books of Haridas as on 31t
March 2021:
Capital Rs. 1,40,000; Purchases Rs. 36,000; Discount allowed Rs. 1200;
Carriage inwards Rs. 11,000; Sales Rs.60,000; Returns inward Rs.300;
Returns outwards Rs. 700; Rent and taxes Rs. 1,200; Plant and machinery Rs.1,15,300;
Stock on 1" April ,2020 Rs. 15,500; Sundry debtors Rs. Rs 20,200; Investments Rs.3,600
Sundry creditors Rs. 12,000; Commission received Rs. 1,800; Cash in hand Bs.100;
Cash at bank Rs. 10,100 and Stock on 31 March, 2021 Rs.20,500.
 6x3= 18
SECTIOND
following information:
Barani, Mumbai from the
"30. Prepare Double column Cash book of Rs.
DATE
APRIL

2023 2,00,000
Cash in hand
1 60000
Bank overdraft
60,000
2
Deposited in Bank
35,000
3 Goods purchased by Cheque
16,000
Cash Purchases
Paid commission by Cheque 12,000
8
Withdrew from Bank for office use 5,000

12 Received from Raghu 8,000

Half of the amount was deposited in the
12 Bank on the same day
16 Interest Collected by Bank 14,000
20 Salary Paid 10,000
23 Goods sold to Ganesh 30,000
Deposited cash in the Bank leaving a
25 balance of Rs. 10,000

31. Pass Journal entries for the following:

1) Interest due but not received Rs. 10,000.
2) Salaries due to staff Rs. 10,000.
3) Out of therent paid this year, Rs.5,000 is for the next year.
4) Provide 10% depreciation on furniture costing Rs. 1,00,000.
5) Ravi purchased 100 shirts (@ Rs.500 per shirt on 4h February 2022. Trade discount 25%
and Cash discount 5% if full payment is made within 15 days. Ravi sent 50% of the
payment on 15h February 2022 and balance amount on February 25th 2022.
6) Goods Costing Rs. 10,000 damaged by fire and Insurance
Company admitted the claim of
Rs.8,000 and cheque is received from the Insurance company.
32. Prepare an Accounting
i)Commenced businessEquation from the following:
with Cash Rs.1,00,000
ii) Paid into Bank
Rs.20,000
iii) Purchased goods for Cash
Rs.40,000 and Credit Rs.60,000.
iv) Sold goods for Cash
Costing Rs.40,000 for Rs. 50,000.
v) Rent paid Rs.10,000
vi) Bought Furniture on
Credit Rs. 10,000
vii) Bought Motorbike for
Personal use by paying cash Rs.10,000
vii) Salary Outstanding
Rs.5,000.
 SECTION E 12 x 1 = 12

33. Journalise the following transactions, post them toLedger and

prepare a Trial Balance:
DATE Rs.
APRIL
2023

Shiva Started business with Cash 1,00,000

2 Deposited in Bank 70,000
3 Bought goods for Cash 6,000
4 Drew cash from bank for office 1,000

10 Sold goods to Krishna 10,000

20 Bought goods from Shyam 2,200

24 Received from Krishna 9,500

Discount allowed 500

28 Paid Cash to Shyam 2,000

Discount received 200

30 Paid Rent 1,000

30 Paid Salary 2,000