Narain Smart School Bhanra
Subject: Accountancy – Grade 11
Time: 3 Hours Max Marks: 80
Section A – Multiple Choice Questions (15 × 1 = 15 Marks)
(i) a. Bookkeeping ✅
(ii) b. Only financial transactions ✅
(iii) a. Internal liability ✅
(iv) a. Short term liability ✅
(v) b. Prudence principle ✅
(vi) c. Prudence ✅
(vii) a. When paid in cash ✅
(viii) b. Cash ✅
(ix) b. Assets – Liabilities = Capital ✅
(x) a. ₹7,50,000 ✅
(xi) c. Representative personal account ✅
(xii) d. An expense account ✅
(xiii) b. Credit purchases ✅
(xiv) a. When credit is given to the account ✅
(xv) b. Non-cash transactions ✅
Section B – Very Short Answer Questions (20 × 1 = 20 Marks)
1. Entity – The business is treated separately from its owner.
2. Account – A record of financial transactions related to a particular item.
3. Drawings – Withdrawal of cash or goods by the owner for personal use.
4. Assets – Resources owned by a business (e.g., cash, furniture).
5. Expenditure – Payment or obligation for acquiring goods or services.
6. Revenue – Income earned by a business through sale of goods/services.
7. Profit – Excess of revenue over expenses.
8. Loss – Excess of expenses over revenue.
9. Purchase Return – Return of goods purchased to the supplier.
10. Sales Return – Goods returned by the customer.
11. Goods – Items bought for resale.
12. Trade Receivable – Amount to be received from customers.
13. Cost – The value paid to acquire goods or services.
14. Discount – Reduction in price given to customers.
15. Balance Sheet – Statement showing assets, liabilities, and capital.
16. Books of Accounts – Financial records maintained by a business.
17. Debit – Left side of an account.
18. Entry – A record of a transaction in books of accounts.
19. Insolvent – A person or business unable to pay debts.
20. Proprietor – The owner of a business.
Section C – Short Answer Questions (5 × 3 = 15 Marks)
(i) Journal: Book of original entry where transactions are recorded in chronological order.
(ii) Banking Transactions: All transactions related to the bank such as deposits,
withdrawals, cheque issues, etc.
(iii) Rules of Debit and Credit:
- Personal A/c: Debit the receiver, Credit the giver
- Real A/c: Debit what comes in, Credit what goes out
- Nominal A/c: Debit all expenses/losses, Credit all incomes/gains
(iv) Imaginary Cheque (Sample):
Date: 01/04/2025
Pay: Rahul Sharma
Amount: ₹5,000/-
Bank: SBI, Amritsar
Signature: Pawan
(v) Cash Basis of Accounting: Revenues and expenses are recorded only when cash is
actually received or paid.
Section D – Practical Questions (2 × 5 = 10 Marks)
(i)
Closing Capital = Assets – Liabilities = ₹1,00,000 – ₹3,000 = ₹97,000
Opening Capital = Closing Capital – Additional Capital + Drawings – Profit = 97,000 –
10,000 + 6,000 – 10,000 = ₹83,000
(ii)
Profit = Revenue – Expenses = ₹5,50,000
Total Capital = Capital + Profit = ₹9,50,000
Total Assets = Capital + Creditors + Closing Stock = ₹9,50,000 + ₹3,00,000 + ₹2,00,000
= ₹14,50,000
Section E – Long Answer Questions (2 × 10 = 20 Marks)
(i) Journal Entries for Pawan
Apr 1: Cash A/c Dr. ₹1,00,000 To Capital A/c ₹1,00,000
Apr 2: Bank A/c Dr. ₹50,000 To Cash A/c ₹50,000
Apr 3: Computer A/c Dr. ₹20,000 To Cash A/c ₹20,000
Apr 4: Repairs A/c Dr. ₹2,500 To Cash A/c ₹2,500
Apr 5: Purchases A/c Dr. ₹10,000 To Cash A/c ₹10,000
Apr 6: Purchases A/c Dr. ₹1,00,000 To Prasad & Co. A/c ₹1,00,000
Apr 7: Cash A/c Dr. ₹20,000 To Sales A/c ₹20,000
Apr 8: Dev & Co. A/c Dr. ₹75,000 To Sales A/c ₹75,000
Apr 9: Sales Return A/c Dr. ₹15,000 To Dev & Co. A/c ₹15,000
Apr 9: Prasad & Co. A/c Dr. ₹8,000 To Purchase Return A/c ₹8,000
Apr 9: Salaries A/c Dr. ₹15,000 To Cash A/c ₹15,000
(ii) Debit Vouchers – Prabhat Electric Company
1. Date: Jan 1, 2025 | Cash Memo No.: 338 | Particulars: Electrical goods purchased |
Amount: ₹10,000 | Account Debited: Purchases A/c
2. Date: Jan 8, 2025 | Particulars: Paid wages for December 2024 | Amount: ₹5,000 |
Account Debited: Wages A/c
