MOUNT LITERA ZEE SCHOOL, AHMEDABAD

Half Yearly Examination

Grade: XI Commerce Academic Year: 2025 – 26 Total marks: 80
Date:10/09/2026 Accountancy Time: 3 hours
Name: ____________________________ Division: _________________ R. No.: _______

Instructions:
1. This question paper contains 34 questions.
2. Marks are indicated against each question.
4. Question Nos. 1 to 16 and 27 to 30 carries 1 mark each.
5. Question Nos. 17, 18 carries 2 marks each.
6. Question Nos. 19 to 22 carries 3 marks each.
7. Question Nos. 23 to 26 carries 5 marks.
8. Question Nos. 31 to 34 carries 6 marks.

No. Questions Marks

1. Long term assets without any physical existence but, possessing a value are called [01]
a) Intangible assets b) Fixed assets c) Current assets d) Investments
2. The art of recording all business transactions in a systematic manner in a set of books is [01]
called
a) Accounting b) Bookkeeping c) Ledger d) None of these
3. The person, firm, or institution who does not pay the price in cash for the goods [01]
purchased or the services received is called
a) Creditor b) Proprietor c) Debtor d) None of these
4. During a lifetime of an entity, accounting produces financial statements in accordance [01]
with which basic accounting concept?
a) Conservation. b) Matching
c) Accounting period d) None of the above
5. The trading and profit and loss account is prepared under which attribute of accounting: [01]
a) Summarising b) Recording
c) Classifying d) Analysis and Interpretation
6. Which principle assumes that a business enterprise will not be liquidated in near future? [01]
a) Money measurement b) Going Concern
c) Accounting period concept c) Dual aspect concept
7. Name the transaction that is recorded in both sides of Cash book simultaneously. [01]
a) Contra Entry b) Dual entry c) Double entry d) Single entry
8. Which of the following is correct? [01]

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 a) Liabilities = Assets + Capital b) Assets = Liabilities – Capital
c) Capital = Assets – Liabilities d) Capital = Assets + Liabilities
9. The journal entry to record the sale of services on credit should include: [01]
a) Debit to debtors and credit to capital.
b) Debit to cash and Credit to debtors.
c) Debit to fees income and Credit to debtors.
d) Debit to debtors and Credit to fees income.

Which of the following is a cash transaction? [01]

10.
a) Sold goods b) Sold goods to Mr. R
c) Sold goods to Mr. S on credit d) Sold goods to Mr. T on account

The process of recording a business transaction in the journal is called ______. [01]
11.
a) Costing b) Posting c) Balancing d) Journalising

Liabilities and assets amount to Rs. 50,000 and Rs. 7,800 respectively. The difference [01]
12.
Amount shall represent _______.
a) Creditors b) Debentures c) Profit d) Capital
13. Which account will be debited in case wages are paid for installation of machinery? [01]
a) Machinery A/c b) Installation A/c c) Wages A/c d) Cash A/c
14. Goods worth Rs.7,000 given away as charity would be credited to [01]
a) Sales A/c b) Purchases A/c c) Charity A/c d) Trustee A/c
15. When a business maintains a cash book, it doesn’t need to maintain _______. [01]
a) Journal proper b) Purchases book
c) Sales book d) Bank and cash account in the ledger
16. On purchase of old furniture, the amount of ₹ 1,500 spent on its repairs should be [01]
debited to:
a) Furniture Account b) Repairs Account
c) Cash Account d) None of the above
17. Vijay, a consultant, during the financial year 2021-22 earned Rs.4,00,000. Out of which [02]
he received Rs.3,50,000. He incurred an expense of Rs.1,70,000, out of which
Rs.40,000 are outstanding. He also received consultancy fee relating to previous year
Rs.45,000 and also paid Rs.20,000 expenses of last year.
You are required to determine his income for the year if he follows Accrual Basis of
Accounting.
18. On which side will the increase in the following accounts be recorded? Also, state the [02]
nature of the account:
i) Furniture A/c ii) Mohan (proprietor)
iii) Salary A/c vi) Sales A/c
OR
On which side will the decrease in the following accounts be recorded? Also, state the
nature of the account:
(i) Cash (ii) Bank Overdraft
(iii) Outstanding Salary paid (iv) Outstanding Rent

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19. Explain any six of the following accounting terms: [03]
i) Gain ii) Profit iii) Revenue iv) Expenses

v) Capital vi) Drawing vii) Intangible Assets viii) Fixed assets

20. Complete the following answer: [03]
(i) If a firm believes that some of its debtors may ”default”, it should act on this by
making sure that all possible losses are recorded in the books. This is an example of the
___________ concept.
(ii) The fact that a business is separate and distinguishable from its owner is best
exemplified by the ___________ concept.
(iii) Everything a firm owns, it also owns out to somebody. This co-incidence is
explained by the ___________ concept.

21. Give journal entries corresponding to the narration given below: [03]

Journal

Date Particulars L.F. Debit Credit

2022 Drawings A/c Dr. 1,000

Apr 01 ? 1,000
(Being Goods withdrawn by
owner of 1,000 for personal
use.)
Apr 02 ? Dr. 500
To Purchases A/c 500
(Being Goods distributed as
sample.)
Apr 04 Furniture A/c Dr. 5,000
? 5,000
(Being Timber used for
making office furniture)

22. Following accounts are to be maintained in the books of accounts of Shri Verma. [03]
Classify them into Personal, Real and Nominal.
i) Ramesh, a debtor ii) Land and Building iii) Bank Overdraft
iv) Interest received v) Bad debts vi) Capital
23. Give journal entries for the following transactions and post any two of them to ledger. [05]
2015 Amt.
March 1 Goods sold to Somu on credit 5000
7 Furniture purchased for cash 300
15 Interest received 1800

24. Pass the journal entries: [05]

1. Provide depreciation on Furniture Rs. 500 and on Machinery Rs. 2000
2. Received cash Rs. 1000 for bad debts written off last year.
3. Rs. 20000 for wages and Rs. 4000 for salaries are outstanding.
4. Provide 9% interest on capital amounting Rs. 200000.
5. Charge interest on drawings Rs.1000.
OR
Pass the following Journal entries:
May 02, 2019:- Goods purchased from Rajesh for Rs. 59,000

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 May 06, 2019:- Goods Sold to Narmada for Rs. 24,000
May 12, 2019:- Insurance premium paid by cheque of Rs. 35,000
May 18, 2019:- Cheques received from Manu of Rs. 16,000
May 24, 2019:- Sam paid Rs. 14,000 in cash
25. Prepare an Accounting Equation on the basis of the following transactions: [05]
(i) Started business with cash Rs. 70,000.
(ii) Credit purchase of goods Rs. 18,000.
(iii) Payment made to creditors in full settlement Rs. 17,500.
(iv) Purchase of machinery for cash Rs. 20,000.
(v) Depreciation on machinery Rs. 2,000.
OR
Show the effect of the following transactions on the Accounting Equation:
(i) Started business with cash Rs.50,000.
(ii) Salaries paid Rs. 2,000.
(iii) Wages Outstanding Rs.200.
(iv) Interest due but not paid Rs.100.
(v) Rent paid in advance Rs.150.

Following transactions took place in M/s Goodluck Computers. Prepare the Accounting [05]
26.
Vouchers:
2019 ₹
Jan. 1 Bought Computer Mouse (4 Nos.) vide Cash Memo No. 338 6,000
Jan. 8 Wages paid for the month of December, 2018 10,000
Jan. 25 Paid cash to Hari & Sons vide receipt No. 102 for repairs 1,000
Jan. 28 Paid postage 200
Jan. 30 Cash withdrawn from bank 10,000

OR
Prepare the Transfer Vouchers in the books of Mangla Agencies, Faridabad, Haryana
from the Source Vouchers:
2019 ₹
Jan.7 Purchased goods from M/s Eufora, New Delhi vide Bill No. 4,700
912,
Jan. 11 Sold goods to M/s Yardley, Faridabad, Haryana vide Bill No. 5,000
31596
Jan. 31 Depreciation charged on building @ 10% on ₹ 2,00,000 20,000

PART:B
27. Return of goods by a customer is recorded in ______. [01]
a) Purchase book b) Sales book
c) Sales return book d) Purchase return book
28. Anil, the Petty Cashier of Ebony, has an imprest of Rs.5,000 out of which he pays for [01]
petty expenses. He submits the details of payments every 15 days which is reimbursed
to him. He submitted the details for 15 days that ended on 15th April, 2012 amounting
to Rs. 4,900. He has with him unpaid expense vouchers amounting to Rs.2,200. How
much amount should be paid to him?
(a) Rs.4,900 (b) Rs.5,000 (c) Rs.2,200 (d) Rs.7,100
29. While passing an opening entry, all the assets are ______while all the liabilities [01]
are_____
a) Debited, credited b) Credited, Credited

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 c) None of the options d) Credited, Debited

30. Which account will be debited in case Life insurance premium is paid by proprietor [01]
from business cash?
a) Drawings A/c b) Capital A/c c) Insurance A/c d) Cash A/c
31. Enter the following transactions in an analytical petty cash book on Imprest system for [06]
June, 2011. Imprest money was maintained at Rs 1,700.
2011
Jun.
1 Cash Balance Rs 135.
2 Gave gift to clerk Omkar Rs 151.
5 Paid for sending registered post and speed post Rs 104.
7 Washing charges paid to peon Rs 72.
10 Paid lunch bill of travelling salesman Rs 143.
13 Gave loan to peon Arun Rs 250.
16 Paid for cartage Rs 80.
19 Purchased chair for office use Rs 200.
22 Purchased stamp pad, paper clips and carbon paper Rs 107.
26 Purchased office files Rs 90.
30 Paid for repairs of machinery Rs 153.
32. Enter the following transactions in a cash book with cash and bank and columns for the [06]
month of April, 2011:
2011
Apr.
1. Started business with cash Rs 30,000.
2. Opened a current account with bank and deposited Rs 9,000.
5. Received Rs 4850 for cash sales and discount allowed Rs 50.
Purchased goods of Rs 3,000 at 10% cash discount, half the amount was paid
6.
by cash and remaining by cheque.
Received a crossed cheque for Rs 7,775 from Megha Associates and discount
9.
allowed Rs 25.
12. Purchased machinery of Rs 13,300 and paid for installation Rs 700.
Received a bearer cheque of Rs 737 from Rahul in settlement of his account
15.
Rs 800.
17. Deposited into the bank Rs 2,000.
20. Transferred Rs 8,000 from proprietor’s savings account to Current account.
22. Received a bearer cheque from Vinod Rs 2,230.
24. Deposited the cheque received from Vinod into the bank.
27. Bank informed that cheque received from Vinod is dishonoured.
28. Paid for printing bill book Rs 660.
30. Withdrew from bank for office use Rs 1,000.
33. Prepare an Accounting Equation and Balance Sheet on the following basis: [06]
(i) Ajeet started business with cash ₹ 20,000.
(ii) He purchased furniture for ₹ 2,000.
(iii) He paid rent of ₹ 200.
(iv) He purchases goods on credit ₹ 3,000.
(v) He sold goods (cost price ₹ 2,000) for ₹ 5,000 on cash.
34. The following balances appeared in the books of Kumaran on April 1, 2017. [06]
Assets: Cash ₹ 1,00,000; Stock ₹ 40,000; Amount due from Rohit ₹ 10,000,

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Furniture ₹ 10,000; Liabilities: Amount due to Anush ₹ 40,000;
Kumaran’s capital ₹ 1,20,000
Find the capital and show the ledger posting for the above opening balances.
OR
Show the ledger posting of the given transactions:
2017 July:
1 – Shankar commenced business with cash ₹ 1,00,000.
6 – Sold goods for cash ₹ 10,000.
9 – Wages paid ₹ 6,000.
19 – Salaries paid ₹ 8,000.
20 – Advertisement expenses paid ₹ 4,000.

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