XI – ACCOUNTS
Maximum Marks: 80
Time Allowed: 3 Hours
Section A-15 Marks
1. Goods purchased for resale are known as:
a) Assets
b) Liabilities
c) Purchases
d) Expenses
2. Journal is also known as:
a) Book of Original Entry
b) Book of Secondary Entry
c) Book of Balance
d) Book of Posting
3. Which of the following is not a branch of accounting?
a) Cost Accounting b) Management Accounting c) Social Accounting d) Financial
Engineering
4. The process of recording business transactions in the books of accounts is called:
a) Journalising b) Posting c) Balancing d) Trial Balance
5. Under which concept closing stock is valued at cost or market price whichever is lower?
a) Matching concept b) Conservatism c) Consistency d) Dual aspect
6. Which of the following is a fictitious asset?
a) Copyright b) Goodwill c) Preliminary expenses d) Machinery
7.Which account is affected if salary is paid in cash?
a) Salary A/c Dr., Cash A/c Cr.
b) Cash A/c Dr., Salary A/c Cr.
c) Capital A/c Dr., Salary A/c Cr.
d) None
8. Define “Book-keeping.”
9. State with reasons whether the following are Goods or Assets:
a) Mobile purchased by a trader dealing in mobiles
b) Mobile purchased by a stationary shop
10. X purchased goods for cash but did not record the transaction in books. Which principle
is violated? Explain.
11. Define Trade discount.
12. Write the two golden rules of accounting for:
a) Real Accounts
b) Nominal Accounts
13. “Debit the receiver, Credit the giver” relates to which type of account?
14. Which type of discount is recorded in books of accounts?
15. Assertion (A): Depreciation is charged on fixed assets.
Reason (R): Fixed assets lose value due to wear & tear and passage of time.
a) Both A and R are correct and R is the correct explanation of A
b) Both A and R are correct but R is not the correct explanation of A
c) Only A is correct
d) Only R is correct
Section B-21 marks
Q2. State which of the following accounts have debit or credit balance:
- Capital, Salary paid, Commission received, Bad debts, Debtors.
Q3. Identify the accounting concept:
1. Business and owner are treated separately.
2. Transactions are recorded at the price actually paid.
3. Life of business is divided into equal periods for reporting.
Q4. Opening capital ₹4,50,000; Assets ₹6,20,000; Liabilities ₹70,000. Find Closing
Capitaland Profit.
OR
From the following balances, pass opening entry: Cash ₹20,000; Stock ₹50,000;
Machinery ₹80,000; Debtors ₹60,000; Creditors ₹45,000; Bank loan ₹25,000.
Q5. From the following transactions with Ravi, prepare his Ledger A/c:
April 1: Balance due from Ravi ₹5,000
April 6: Sold goods to him ₹8,000
April 10: Received ₹7,600 from him in full settlement
Q6. Journalise:
1. Rent outstanding ₹3,000
2. Insurance premium paid ₹12,000 (includes ₹2,000 for next year)
3. Received 40 paise in a rupee from debtor Ashok (Insolvent) for ₹5,000.
Q7. Write any three advantages of Trial Balance.
OR
Why can Bank column of Cash Book show both debit and credit balance while Cash
column cannot? Explain.
Q8. Write any three features of accounting.
Section C- 24 Marks
Q9. Prepare Petty Cash Book from the following:
Oct 1 Received imprest ₹10,000
Oct 2 Paid cartage ₹250
Oct 3 Bought stationery ₹1,200
Oct 4 Bus fare for staff ₹300
Oct 5 Repair of calculator ₹500
Oct 6 Postage ₹400
Oct 7 Paid coolie charges ₹350
Q10.Prepare Sales Book of Ajay & Co. (Furniture dealers):
Sold 10 chairs @₹2,000 each to Sanjay & Bros.
Sold 5 tables @₹3,500 each to Ramesh & Co.
Sold 5 almirah for ₹2,500 in cash
Q11. Show the effect of following transactions using Accounting Equation:
1. Commenced business with cash ₹50,000
2. Bought goods for cash ₹10,000
3. Rent paid ₹2,000
4. Commission received ₹1,500
5. Purchased furniture ₹5,000
Q12. Draft Trial Balance of Ramesh & Co. from following balances:
Capital ₹1,50,000, Building ₹90,000, Furniture ₹20,000, Debtors ₹25,000, Creditors
₹10,000, Bank Loan ₹30,000, Purchases ₹80,000, Sales ₹1,20,000, Rent paid ₹5,000, Wages
₹10,000, Cash ₹15,000.
Section D (20 Marks)
Q13. Journalise, post to Ledger and prepare Trial Balance:
Jan 1: Started business with cash ₹70,000
Jan 2: Purchased goods for cash ₹25,000
Jan 5: Sold goods for cash ₹15,000
Jan 7: Purchased machinery ₹10,000
Jan 10: Paid rent ₹2,000
Jan 15: Goods sold to Ramesh on credit ₹12,000
Jan 20: Received from Ramesh ₹11,500 in full settlement
Q14. Prepare a three-column Cash Book of Sunita Traders from:
Nov 1 Cash in hand ₹12,000, Bank balance ₹25,000
Nov 2 Cash sales ₹6,000
Nov 5 Paid wages ₹2,000
Nov 6 Paid into bank ₹8,000
Nov 10 Received cheque from Aman ₹4,900, discount allowed ₹100, deposited
immediately
Nov 12 Purchased goods by cheque ₹5,000
Nov 15 Drew from bank for office use ₹3,000
