केन्द्रीय विद्यालय संगठन, मंबई संभाग

KENDRIYA VIDYALAYA SANGATHAN, MUMBAI REGION

सत्ां त परीक्षा : 2023-24

SESSION ENDING EXAMINATION: 2023-24

कक्षा / Class : 11

विषय /SUBJECT :ACCOUNTANCY

अविकतम अं क / Maximum Marks: 80 समय / TIME : 3 HOURS

वनर्दे श / Instructions –

(i) This question paper contains 34 questions. All questions are compulsory.

(ii) This question paper is divided into two parts, Part A and B.

(iii) Question 1 to 16 and 26 to 29 carries 1 mark each.

(iv) Questions 17 to 20, 30 and 31 carries 3 marks each.

(v) Questions from 21, 32 and 33 carries 4 marks each.

(vi) Questions from 22 to 25 and 34 carries 6 marks each.

(vii) 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 mark.

PART A : FINANCIAL ACCOUNTING -I

प्र.क्र./ प्रश्न / Question अंक /
QNo Marks
1. A company purchased goods for Rs.5,00,000 and sold 80% of such goods during the year.
The market value of remaining goods was Rs.90,000. The company valued the closing 1
stock at cost. Which accounting principle is being violated?
(a) Materiality Principle
(b) Consistency Principle
(c)Prudence Principle
(d) Full Disclosure Principle
2. Given below are two statements, 1
Assertion (A)- Fictitious assets are those assets which cannot be realised in cash or no
further benefit can be derived from these assets.
Reason (R )- Goodwill, patents and trade mark are fictitious assets.
Choose the correct option from following statement on the basis of above
Assertion (A) and Reason(R) :
a)Both (A) and (R) correct and (R) is the perfect explanation of (A)
b)Both (A) and (R) correct individually but (R) is not a perfect explanation of (A)
c)Both (A) and (R) are incorrect
d)(A) is correct but (R) is incorrect

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3. Mr. Rajesh Diwan dealing in electronic goods sold 20 TV sets costing Rs.30,000 each at 1
Rs.40,000 each. Out of this, Rs.5,00,000 were received in cash and the balance is not yet
received.
What will be the amount of revenue?
(a) Rs.5,00,000
(b) Rs.8,00,000
(c) Rs.6,00,000
(d) Rs.2,00,000
4. Which of the following is not a business transaction? 1
(a) Goods taken worth Rs.40,000 for cash.
(b) Cash Rs. 20,000 withdrawn from business for personal use by the proprietor.
(c) Proprietor withdrew cash Rs.25,000 from his personal account to pay school fees of his
son.
(d) Proprietor withdrew cash Rs.40,000 from the bank account of the firm for medical
treatment of his wife.
5. Given below are two statements:- 1
Assertion (A)- CGST and SGST are collected on purchase of goods within the state.
Reason (R )- When goods are purchased within the state then input CGST and input SGST
account come in effect.
Choose the correct option from following statement on the basis of above Assertion
(A) and Reason(R) _
(a)Both (A) and (R) correct and (R) is the perfect explanation of (A) .
(b)Both (A) and (R) correct individually but (R) is not a perfect explanation of (A) .
(c)Both (A) and (R) are incorrect .
(d)(A) is correct but (R) is incorrect .
6. Which of the following limitations of accounting states that books of accounts may be 1
manipulated to conceal vital information?
(a) Accounting leads to window dressing
(b) Accounting is not fully exact
(c)Accounting ignores price level changes
(d) Accounting ignores qualitative concepts
7. Amount received from sale of goods is a _______ receipt whereas amount received from 1
the sale of fixed assets is _______ receipts.
(a) revenue, current
(b) capital, revenue
(c) non-current, current
(d) revenue, capital
8. From the following calculate liabilities: 1
Capital Rs 75,000; cash in hand Rs 5,000; Debtors Rs. 20,000; Machinery Rs.60,000;
Stock Rs.25,000.
(a) Rs 35,000
(b) Rs 30,000
(c) Rs 1,10,000
(d) Rs. 75,000

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 OR
From the following calculate closing capital:
Rameshwar commenced business on 1st April,2022 with a capital of Rs.6,00,000. On 31st
March,2023 his assets were worth Rs.8,00,000 and liabilities Rs.50,000.
(a) Rs.2,00,000
(b) Rs. 6,00,000
(c) Rs. 1,50,000
(d) Rs.7,50,000
9. The depreciation value after two years of an asset costing Rs 10,000 depreciated at 10% on 1
fixed instalment method is Rs __________ and on reducing balance method is _________.
(a) Rs 8100 and Rs 8000
(b) Rs 9000 and Rs 8000
(c) Rs 8000 and Rs 8100
(d) Rs 8000 and Rs 9000
OR
Which is not an advantage of written down value method?
(a) Income tax act accept this method for tax purpose
(b) Assets can be depreciated up to the net scrap value or zero.
(c) Large portion of depreciation is charge in earlier years.
(d) The depreciation is calculated on the book value of an asset and not on the cost.
10. Identify the type of error. “Goods purchased from Raghav for Rs. 4,500 but goods 1
recorded as Rs. 5,400 in the Purchases Book.”
(a) Error of Omission
(b) Error of Commission
(c) Error of Partial Omission
(d) Error of Principle
OR
Credit purchase from Rohan Rs.9,000 was posted to the debit of Gobind as Rs.10,000. In
this case suspense account will be debited with:
(a) Rs. 9,000
(b) Rs. 10,000
(c) Rs.19,000
(d) Rs. 91,000
11. Cash withdrawn by proprietor should be credited to ________ account. 1
(a) capital
(b) profit and loss
(c) cash
(d) drawing
OR
A purchase of machine for cash should be debited to ________ account.
(a) drawings
(b) cash

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 (c) machine
(d) purchase
12. Given Imprest amount Rs.5,000. What will be the amount of reimbursement, if following 1
expenses were incurred by the petty cashier during the month?
Wages Rs.1,450, Tiffin Rs.1,050, small repairs Rs. 500, General expenses Rs. 400.
(a) Rs.1,600
(b) Rs. 3,400
(c) Rs. 3,050
(d) Rs. 3,000
OR
st
On 1 April,2023, the balance of cash column of cash book stood at Rs.50,000. After
paying salaries of Rs.20,000, receiving Rs.20,000 from debtors and giving a cheque of Rs.
5,000 to a creditor Shamit, balance of cash column of cash book will be:
(a) Rs. 45,000
(b) Rs. 50,000
(c) Rs. 70,000
(d) Rs. 85,000
13. Match the transactions in Column I with relevant subsidiary books in Column II. 1
Column I Column II
(i) Credit purchases (A) Return outward Book
(ii) Depreciation (B) Sales Book
(iii) Goods returned to Alisha (C) Journal proper
(iv) Trade discount allowed (D) Purchases Book
(a) (i)-(A), (ii)-(B), (iii)-(C), (iv)-(D)
(b) (i)-(D), (ii)-(C), (iii)-(B), (iv)-(A)
(c) (i)-(B), (ii)-(D), (iii)-(A), (iv)-(C)
(d) (i)-(D), (ii)-(C), (iii)-(A), (iv)-(B)
Read the case study and answer the following question numbers. 14 and 15 on the
basis of same:
On 31st March 2023, Mr. Saurabh Raj’s cash book showed a bank balance of Rs.3,72,000.
It differed with the balance shown in his passbook. A closer scrutiny revealed that there
were cheques issued to creditors but not yet presented to the bank for payment amounted to
Rs.72,000. Dividend of Rs.5,000 was received by the bank but not entered in the cash
book. Interest of Rs.1,250 was allowed by the bank. Cheques of Rs.15,400 were deposited
into the bank for collection but not yet collected by bank up to this date. Bank charges
amounted to Rs.200. A cheque of Rs.320 deposited into bank was dishonoured but no
information was received. Bank paid house tax of Rs.350 on his behalf but no information
was received from the bank in this connection.
14. Cheques issued to creditors but not yet presented to the bank for payment amounting to 1
Rs.72,000. The treatment while preparing Bank Reconciliation Statement will be:
(a) Rs.72,000 added to debit balance of cash book
(b) Rs.72,000 deducted from debit balance of cash book
(c)Rs.1,44,000 added to debit balance of cash book
(d) Rs.1,44,000 deducted from debit balance of cash book
15. Cheques of Rs.15,400 were deposited into the bank for collection but not yet collected by 1
bank up to this date will be:

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 (a) Rs.15,400 added to debit balance of cash book
(b) Rs.15,400 deducted from debit balance of cash book
(c)Rs.30,800 added to debit balance of cash book
(d) Rs.30,800 deducted from debit balance of cash book
16. Given below are two statements, 1
Assertion (A)- Accrual basis of accounting makes a complete record of all cash as well as
credit transactions. It, however does not follow matching principle of accounting.
Reason (R )- Accrual basis of accounting depicts true profit or loss of the business and is
recognised by Companies Act, 2013.

Choose the correct option from following statement on basis of above Assertion (A)
and Reason(R)
(a) Both (A) and (R) correct and (R) is the perfect explanation of (A) .
(b) Both (A) and (R) correct individually but (R) is not a perfect explanation of (A).
(c) (A) is incorrect but (R) is correct.
(d) (A) is correct but (R) is incorrect.
17. Differentiate between Book-keeping and Accounting on the basis of: 3
a. Objective b. Scope c. Special Skills Involved
OR
Write any three interested users of Financial Statements of an organization along with
the informational needs of these interested users.
18. Identify and explain the accounting principles/concepts/conventions followed or violated in 3
the following situations:
a) Malhotra and sons are running a manufacturing business. The accountant adopts
written down value method of depreciation year after year for their machines.
b) On 10/3/2023, a fire broke out in the premises of Raghav Ltd. and destroyed a part of its
plant and machinery. Due to this a sharp decline in production is expected for the next 6
months. The company did not show this fact in the report of the company for the year
ended 31/3/2023.
19. Pass the following journal entries in the books of Mr. X: 3
A. Mr. X sells good to Sia for Rs 20,000 plus CGST and SGST @ 9% each and she pays
the due amount immediately and avails cash discount @ 2%.
B. R became bankrupt and was able to pay only 60% of the amount of Rs 10,000 due from
him.
C. Paid rent of building Rs. 12,000. 1/4th of the building is used by the Mr. X for
residential use.
20. Distinguish between Revenue Reserve and Capital Reserve. 3
21. Enter the following transaction in the Purchase Book of Ram Book Depot, New Delhi 4
DATE PARTICULARS
2023 Purchased from Seeta Book Depot, New Delhi, vide Bill No. 567: -
Nov 5 10 dozen pencils @ Rs. 5 per pencil
100 registers @ Rs. 40 per register.
Trade discount 10%.
Nov 10 Purchased from Mohan Furniture House, Kanpur: -
50 chairs @ Rs. 500 per chair
40 Stools @ Rs. 200 each.

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 Nov 20 Purchased from Rajesh Book Depot, Agra (Uttar Pradesh), vide Bill
no. 456: -
150 pens @ Rs. 12 each
400 pencils @ Rs. 6 each
Nov 30 Purchased from Mohit Book Depot, Ambala (Haryana ) vide Cash
Memo No. 924
50 Staplers @ Rs. 20 each
40 Pens @ Rs. 10 each
22. From the following transactions of M/S Ishaan Traders Kolkata, prepare a Double Column 6
Cash Book for the month of January 2024:
Date Particulars
1/1/24 Cash in hand Rs. 12,000; Bank Overdraft Rs. 28,000
2/1/24 Purchased goods from M/S TN Traders for Rs.15,000 and the amount was
paid by cheque
4/1/24 Sold goods for Rs. 50,000 and received a cheque for 60% of the amount
due and the cheque was sent to the bank on the same day.
7/1/24 Received a cheque from Kohli for Rs. 12,000 in full settlement of his dues
Rs. 12,300.
10/1/24 The cheque received from Kohli was deposited in the bank.
15/1/24 Cash withdrawn from bank Rs.5,000 for office use and Rs. 2,000 for private
use of the Proprietor.
18/1/24 Ajay who owed us Rs.2,500 became bankrupt and 40 paisa in a rupee was
recovered from his official receiver.
27/1/24 Sold goods to Naresh Rs.30,000.
31/1/24 Interest on overdraft charged by bank Rs.900.
31/1/24 Deposited with bank entire cash balance after retaining Rs.5,000
23. Trial balance of M/s Sham Brothers did not agree and the accountant put the difference 6
to suspense account. He discovered the following errors:
(a) Sales book is overcast by ₹ 800.
(b) Purchases return to Sahu ₹ 2,000 were not recorded in Sahu’s account.
(c) Goods purchased on credit from Sharma ₹ 4,000 though taken into stock, but no
entry was passed in the books.
(d) Installation charges on new machinery purchased ₹ 500 were debited to sundry
expenses account as Rs. 50.
(e) Rent paid for residential accommodation of Sham Babu (the proprietor)
Rs.1,400 was debited to Rent A/c as Rs.1,000.
Rectify the errors and prepare suspense account to ascertain the difference in trial balance.
24. On 1-4-2019, a company purchased a plant for Rs.60,000. On 1st October in the same year, 6
it purchased additional plant worth Rs.18,000 and spends Rs.2,000 on its erection. On 1st
October,2021, the plant purchased on 1st April 2019 having become obsolete, is sold off for
Rs.27,000.
Depreciation is provided at 10% per annum on Original Cost on 31st March every year.
Show the Plant Account upto 31st March,2022.
OR

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 The following balances appear in the books of X ltd. As on 1st April,2022:
Machinery Account Rs.5,00,000
Provision for Depreciation Account Rs. 2,25,000
The machinery was depreciated @ 10%p.a. on Straight Line Method- the accounting year
being April-March.
On 1st October 2022, a machinery which was purchased on 1st July 2019 for Rs.1,00,000
was sold for Rs. 42,000 and on the same date a fresh machinery was purchased for
Rs.2,00,000.
Prepare Machinery Account and Provision for Depreciation Account for the year 2022-23.
25. Prepare Bank Reconciliation statement on 31st March, 2023 from the following particulars: 6
(i) On 31st March, 2023, the bank passbook of Radha showed a credit balance of
Rs.15,000.
(ii) Before 31st March, 2023, she had issued cheques amounting to Rs. 8,000 out of which
cheques amounting to Rs.3,200 have so far been presented for payment.
(iii) A cheque of Rs.2,200 deposited by her into the bank on 26th March,2023 is not yet
credited in the passbook.
(iv) She has also received a cheque of Rs.500 which although entered by her in the bank
column of cash book, was omitted to be paid into the bank.
(v) On 30th March,2023 a cheque of Rs.1,570 received by her was paid into bank but the
same was omitted to be entered in the cash book.
(vi) There was a credit of Rs.150 for interest on current account and a debit of Rs.25 for
bank charges.
OR
From the following information provided by Jayesh, Prepare Bank Reconciliation
Statement as on 30th June, 2023:
(i) Credit balance as per Bank Cash Book as on the date is Rs. 30,000.
(ii) Out of the total cheques of Rs. 1,00,000 issued, cheques aggregating Rs. 40,000 were
debited in June, Cheques aggregating Rs. 30,000 were debited in July and the rest have not
yet been debited.
(iii) Payment side of cash book is undercast by Rs. 3,000.
(iv) A cheque for Rs. 7500 was directly deposited by the customer in bank.
(v) Wrongly debited by the bank to account, payment of some other party Rs. 700.
(vi) Interest on overdraft excess credited in the cash book Rs.800.

PART B: FINANCIAL ACCOUNTING -II

26. Net profit of a firm before charging manager’s commission is Rs 21,000. If the manager is 1
entitled to 5% commission after charging such commission, how much amount, manger
will get as commission ?
(a) Rs 1,000
(b) Rs1,050
(c) Rs 990
(d) Rs.2,100
OR
If the insurance premium paid during 2022-23 is Rs.2,000 and prepaid insurance is Rs.300.
The amount of insurance premium shown in profit and loss account as on March 31,2023
will be:

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 (a) Rs 1,700
(b) Rs 2,300
(c) Rs. 300
(d) Rs 2,300
27. Cost of goods sold Rs.1,50,000; Closing stock Rs. 40,000; opening Stock Rs. 60,000; 1
Amount of purchases will be:
(a) Rs.1,40,000
(b) Rs.70,000
(c) Rs. 50,000
(d) Rs. 1,30,000
28 If capital at the end of the year is Rs. 40,000; Capital introduced during the year Rs.30,000; 1
drawings for the year Rs.20,000 and loss for the year is Rs.60,000, then Capital at the
beginning of the year was:
(a) Rs.90,000
(b) Rs.80,000
(c) Rs.70,000
(d) Rs. 10,000
29 Which accounting principle is certainly followed under single entry system as well as 1
double entry system?
(a) Dual Aspect principle
(b) Principle of Conservatism
(c) Money Measurement Principle
(d) Matching Principle
OR
Which of the following is a limitation of Single-Entry System?
(a) It is an easy and simple method of recording business transactions.
(b) Preparation of Trial Balance is not possible under this method.
(c) This method is suitable to small business concerns which have mostly cash transactions.
(d) It is easier to calculate profit or loss under Single Entry System.
30 Explain the following with examples: 3
A. Capital Expenditure
B. Revenue Expenditure
C. Deferred Revenue Expenditure
31. Calculate Closing Stock and Cost of goods Sold: 3
Sales Rs.5,40,000; Sales Return Rs.16,000; Gross Profit Rs.1,20,000;
Opening Stock Rs.20,000; Purchases Rs.4,00,000; Purchase return Rs.4,000; carriage
Inward Rs.15,000; Carriage Outward Rs.10,000.
OR
Calculate the value of Opening Stock and Closing Stock if:
Cost of goods Sold Rs.2,70,000; Net Purchases Rs.2,00,000; Direct Expenses Rs.40,000;
Opening stock is two times of the closing stock.

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32 Show how the following items and adjustments appear in final accounts of a sole 4
proprietorship business:
Extract of Trial Balance
As at 31st March,2023
Particulars Debit (Rs.) Credit (Rs.)
Sundry Debtors 32,000
Bad Debts 2,000
Provision for Doubtful debts 3,500
Additional information:
Write off further bad debts Rs.1,000 and create a provision for doubtful debts @5% on
debtors.
OR
Give the adjustment entry and accounting treatment of the following items while preparing
financial statements:
(i) Accrued Income (ii) Unearned Income
33 Mr. Vasudev does not keep proper records of his business. He had opening capital of Rs. 4
15,00,000 as on 1st April,2022. He provided following information at the end of the year.
You are required to prepare a statement showing the profit or loss for the year.
31st March,2023
Particulars Rs.
Bills Receivable 60,000
Cash in hand 80,000
Furniture 9,00,000
Building 10,00,000
Creditors 6,00,000
Stock in trade 2,00,000
Personal expenses paid from business account amounted to Rs. 80,000. He sold ornaments
of his wife for Rs. 3,20,000 and invested that amount in the business.
34 From the following balances taken from the books of Komal, prepare Trading and Profit & 6
Loss A/c for the year ended 31/3/2023.
Trial Balance as at 31/3/2023
Debit balances Rs. Credit balances Rs.
Income tax 20,000 Capital 3,54,000

Opening stock 45,000 Sales 8,10,000

Purchases 2,15,000 Provision for doubtful debts 12,000
Manufacturing wages 60,000 Commission received 8,000
Fuel and power 1,25,500 Bills payable 15,000
Salaries 1,32,000 Creditors 1,10,000
Bad debts 10,000 Interest on loan to Dinesh 9,000
Bills receivable 12,000 Outstanding Manufacturing 5,000
wages
Debtors 91,000
Carriage inwards 9,500
Rent 24,000
Cash at Bank 30,000

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 Insurance 12,000
Rent paid in advance 2,000
Investments 1,00,000
Machinery 2,00,000
Furniture (1/10/22) 1,00,000
Loan to Dinesh @12% 1,00,000
(given on 1/4/22)
Misc. Expenses 35,000
13,23,000 13,23,000
Adjustments:
I. Closing stock was valued at cost Rs. 1,40,000 (Market value Rs. 1,35,000).
II. Unexpired insurance Rs. 3,000.
III. Salaries for the month of March 2023 were still unpaid.
IV. Depreciate Machinery by 10% p.a. and Furniture by 24% p.a.

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