DATE: SECOND TERMINAL EXAM MARKS: 50

STD: XI ACCOUNTANCY TIME: 2HRS

SECTION-A
 CHOOSE THE CORRECT OPTION: - (10)
1. Which of the following characteristic is not applicable to economic transaction?
a. Cash transaction c. External transaction
b. Credit transaction d. Transaction without monetary value
2. Journal is a ________ of accounting transactions.
a. Original Book b. Main Book c. Closing Book d. Other Book
3. Implementation of GST is ______.
a. 2017 b. 2016 c. 2015 d. 2014
4. When revenue income received in cash, ________.
a. Increase in assets-increase in liability c. Increase in assets-increase in capital
b. Increase in assets-decrease in liability d. Increase in capital-decrease in liability
5. Credit sales of goods will be recorded in ________.
a. Sales book b. Purchase book c. Journal Proper d. Bills receivable book
6. What is called a ‘King of Books’?
a. Journal book b. Ledger book c. Cash book d. Journal proper book
7. What is the duration of accounts disclosed in a trial balance?
a. 1 year b. 6 month c. 3 months d. of anytime
8. When trial balance does not tally, it is tallied temporarily with the help of ______ account.
a. Trading a/c b. Suspense a/c c. Balance Sheet d. P & L a/c
9. ______ is not advisable to create for business.
a. General reserve b. Cash reserve c. Provision d. Capital reserve
10. Fixed assets are depreciated based on the Principle of ______.
a. Accounting Entity b. Materiality c. Going Concern d. Money measurement

SECTION –B
 ANSWER THE FOLLOWING QUESTIONS. (5)
11. What is posting?
12. House rent and shop rent both are business expense. Write true or false.
13. On which price of asset, depreciation is calculated under straight line method?
14. When combined journal entries written?
15. What is depreciation?

SECTION –C
 ANSWER THE FOLLOWING QUESTIONS.(ANY 4) (12)
16. From the following transactions, prepare cash book of Pari.
2015 June
1 Opening cash balance Rs. 10000
2 Cash sales Rs. 3000.
3 Salary of Rs. 1000 and brokerage of Rs. 1500 paid by cash.
4 Cash purchase Rs. 6000.
5 Old cycle of Rs. 600 is purchased for business.
6 Machine of Rs. 3500 purchased for business.
17. From the following balances of accounts prepare a trial balance of Shri Vasim as on
31-3-2016.
Name of A/C Amoun Name of A/C Amount
t
Opening stock 16000 Capital 20000
Sales 10000 Purchase 9000
Creditors 15000 Drawing 20000
18. Cashbook of Nilam shows credit balance of bank Rs, 12,000 as on 31-3-2016, which does not
tally with the balance as per passbook. Following information is obtained while comparing
the passbook and cashbook. Prepare a bank reconciliation statement:
(1) Cheque drawn but not presented for payment Rs. 1000.
(2) Cheque deposited but not credited in bank Rs. 1500.
(3) Bank has debited commission Rs. 80 in passbook, which is not recorded in cashbook.
19. On 1-4-13 Heena Limited has balance in machine account in its books of Rs. 36000. This
machine was purchased seven years back. This machine was sold at 30% profit of its book
value on 31-3-14. Every year company charges depreciation at 10% under straight line
method. From the above information prepare machine account.
20. Trial balance of Shri Mausim as on 31-315 does not tally and therefore a difference of Rs.
1440 is credited to suspense aacount. The following errors are detected after final accounts
are prepared only pass the necessary rectification entries.
(1) Rs. 6490 received from Parvin is posted as Rs. 450 on debit side of his account.
(2) Rs. 3560 paid for repairing expenses were posted on the debit side of machinery account
as Rs. 1560.
(3) Rs. 4570 paid to Sohail is debited to Mahir’s account as Rs. 2570.
21. Sahil Limited has purchased a machine for Rs. 67000 on 1-4-12. Installation expenses of this
machine was Rs. 3000. Depreciation is to be provided at 10% every year under reducing
balance method. Ascertain amount of depreciation and pass journal entries.

SECTION –D
 ANSWER THE FOLLOWING QUESTIONS.(ANY 2) (12)
22. From the following transactions prepare sales book and sales return book in the books of
account of Aahil Furniture Mart:
2018 Sept.
1 Goods of Rs. 10000 at 10% cash discount sold to Rahil Furniture Mart. He has paid an
half amount.
2 Goods of Rs. 8000 at 10% trade discount and 5% cash discount sold to Pari. Credit
period of 1 month. Bill no.130 sent by adding Rs. 100 of labour charge.
8 Goods of Rs. 4000 sold at 10% trade discount and 5% cash discount.
12 Goods of Rs. 5000 is returned by Rahil Furniture Mart. Goods received back, thus sent
Credit note no. 16
15 A old machine sold to Mahin on Credit for Rs. 3000. Credit period is 1 month.
20 Goods sold of Rs. 30000 at 5% trade discount to Harish. Invoice no.136 sent by adding
Rs. 200 labour charge.
23. From the following transaction, prepare bank and discount columnar cash book of Aasim.
2015 July
1 Opening bank overdraft Rs. 13500.
2 Good of Rs.5000 sold to Prem, against which he issued a cheque of Rs.4950 in full
settlement of account, which is immediately deposited in the bank.
8 Goods of Rs.6000 purchased and a cheque is issued for the necessary amount.
14 Cheque of Rs. 5000 is received from Zara in full settlement of account of Rs. 5060.
19 Goods of Rs. 16000 sold to Karim, for which she issued a cheque of the necessary
amount, which is deposited in the bank.
25 Cash of Rs. 2000 deposited in the bank.
29 Cheque issued by Karim is dishonoured.
24. From the following information, prepare Bank Reconciliation Statement of Rizwan:
Bank Passbook
Date Particulars Debit Credit Balance
(Rs.) (Rs.) (Rs.)
2015
Dec. 1 Balance b/f - 4000 4000
6 Ahmedabad Electricity Co. A/c 3200 - 800
10 Mariya A/c - 2000 2800
15 Danish A/c 1600 - 1200
19 Dividend A/c - 300 1500
22 Amena A/c 900 - 600
27 Bank commission A/c 20 - 580
30 Aahna A/c 500 - 80
31 Balance c/f 80 - 80
6300 6300 -

Dr. Cashbook(Bank Column) Cr.

Date Particulars R. L. Amount Date Particulars R. L. Amount
No F. Rs. No F. Rs.
. .
2015 2015
Dec.1 To balance 4000 Dec.4 ByAhmedabad
b/d Elec. Co. A/c 3200
10 To Mariya 2000 8 By Pari A/c 700
A/c
12 To Gauss A/c 1900 11 By Sales India
A/c 2000
15 To Bilal A/c 2400 16 By Kahtun A/c 400
22 To Chandni 3200 20 By Amena A/c 900
A/c
28 To 600 26 By Interest A/c 5000
Commission
A/c
31 By balance c/f 1900
14100 14100

SECTION –E
 ANSWER THE FOLLOWING QUESTIONS. (11)
25. Following is the Trial Balance of K.N. Stores as on 31-3-2015:
Name of the Account Debit (Rs.) Credit (Rs.)
Gross Profit - 300000
Salary 54000 -
General Expenses 6600 -
Tax-Insurance 7200 -
Sundry Debtors 120000 -
Closing Stock 13200 -
Bank Overdraft - 6000
Commission - 9000
Advertisement Expenses 9000 -
Interest 3000 -
Furniture 48000 -
Building 180000 -
Motorcar 60000 -
Capital - 142800
Drawings 6000 -
Bad-Debts 3600 -
Bad-debts Reserve - 6000
Loan - 24000
Creditors - 12000
Bills Receivable 3000 -
Bills Payable - 9600
Carriage outward 4000 -
Discount given 3200 -
Discount received - 2400
General Reserve - 30000
Cash Balance 21000 -
5,41,800 5,41,800

Adjustment :
(1) Salary was paid up to 31-12-2014.
(2) Rs. 1200 being insurance premium for the year ending on 30-9-2015.
(3) Commission of Rs. 2000 is receivable.
(4) Calculate 10% interest on Capital and 12% interest on Drawings.
(5) Calculate depreciation at 5% on Furniture, at 10% on Building and at 20% on Motorcar.
(6) From debtor of Rs. 20000 write off 50%.
(7) Provide 5% Bad debts reserve and 2% Debtors discount reserve.
(8) Transfer Rs. 10000 to General Reserve.
From the above information, prepare final account of K.N. Stores for the year ending as on
31-03-2015.

ALL THE BEST