1. Home
  2. /
  3. CBSE
  4. /
  5. Class 11
  6. /
  7. Accountancy
  8. /
  9. CBSE Sample Papers Class...

CBSE Sample Papers Class 11 Accountancy 2024

myCBSEguide App

myCBSEguide App

Download the app to get CBSE Sample Papers 2023-24, NCERT Solutions (Revised), Most Important Questions, Previous Year Question Bank, Mock Tests, and Detailed Notes.

Install Now

We have updated CBSE Sample Papers for class 11 Accountancy as per the new exam pattern for the session 2023-24. These are based on the new marking scheme and blueprint released by CBSE for Class 11 students. We are providing Accountancy sample papers for Class 11 that are very helpful to success in CBSE exams. These Sample Papers are available for free download on the myCBSEguide app and website in PDF format. You can download CBSE marking scheme and blueprint along with the Sample Papers.

Download Accountancy Sample Papers as PDF

CBSE Sample Papers Class 11 Accountancy 2023-24

We at myCBSEguide provide CBSE Class 11 Sample Papers of Accountancy for the year 2024 with solutions in PDF format for free download. This CBSE model question paper follows NCERT textbooks and the CBSE syllabus. All students must check the latest syllabus and marking scheme. Sample papers for Class 11 Accountancy and other subjects are available for download as PDFs on the mobile app too. myCBSEguide provides sample papers with solutions for the academic session 2023-24.

Class 11 – Accountancy Sample Paper – 01 (2023-24)

Maximum Marks: 80
Time Allowed: : 3 hours

General Instructions:

  1. This question paper contains 34 questions. All questions are compulsory.
  2. This question paper is divided into two parts, Part A and B.
  3. Question 1 to 17 and 27 to 29 carries 1 mark each.
  4. Questions 18 to 20 and 30 to 32 carries 3 marks each.
  5. Questions from 21 to 23 carries 4 marks each.
  6. Questions from 24 to 26, 33 and 34 carries 6 marks each.

    1. Class 11 Accountancy Sample Paper Part A

    2. The vouchers which are prepared for transactions not involving cash, i.e. non-cash transactions, are known as ________ vouchers.
      a) Token
      b) Credit
      c) Transfer
      d) Unilateral
    3. Assertion (A): Statements prepared through management account are helpful in decision making process.
      Reason (R): The information provided by management accounts is financial and non-financial as well.

      a) Both A and R are true and R is the correct explanation of A.
      b) Both A and R are true but R is not the correct explanation of A.
      c) A is true but R is false.
      d) A is false but R is true.
    4. Goodwill account is a:
      a) Nominal Account
      b) Real Account
      c) None of these
      d) Personal Account
    5. What shall be the amount of Capital if Cash is ₹ 5,000; Furniture ₹ 12,000; Stock ₹ 30,000 and Creditors ₹ 6,000?
      a) ₹ 41,000
      b) 43,000
      c) ₹ 53,000
      d) ₹ 47,000


      Purchase of machine by cash means:

      a) increase in asset and decrease in the asset
      b) none of these
      c) the decrease in asset and increase in capital
      d) increase in asset and decrease in liability
    6. Source of documents are
      a) Cash Memo
      b) Both Cash Memo and Invoice
      c) Neither Cash Memo Nor Invoice
      d) Invoice
    7. Income statement include
      a) Profit and loss account only
      b) Trial Balance only
      c) Balance sheet only
      d) Statement of profit and loss


      Which of the following is not a limitation of accounting?

      a) Evidence in Legal Matters
      b) Based on accounting conventions
      c) Incomplete Information
      d) Omission of Qualitative Informations

      To practice more questions & prepare well for exams, download myCBSEguide App. It provides complete study material for CBSE, NCERT, JEE (main), NEET-UG and NDA exams. Teachers can use Examin8 App to create similar papers with their own name and logo.

    8. Which of the following correctly differentiates between provision and reserves?
      1. A provision is a charge against profit whereas reserve is an appropriation of profit.
      2. Provision is made for a known liability or expense the amount of which is not certain whereas reserve is created for strengthening the financial position of the business.
      3. Provision is deducted before calculating taxable profits whereas a reserve is created from profit after tax and therefore it has no effect on taxable profit.
      4. All of these
      a) Option (ii)
      b) Option (i)
      c) Option (iii)
      d) Option (iv)
    9. Rule of Debit and Credit for Impersonal account is
      a) Dr. the receiver and Cr the giver
      b) Dr. what goes out and Cr what comes in
      c) Dr. all expenses and Cr all gains & Dr. what goes out and Cr what comes in
      d) Dr. all expenses and Cr all gains


      When a total of the debit side of an account exceeds the total of its credit side, the account is said to have ________.

      a) Debit Balance
      b) None of these
      c) Debit as well as credit balance
      d) Credit Balance


  1. Question No. 9 to 10 are based on the given text. Read the text carefully and answer the questions:A business purchased goods for ₹ 2,00,000 and sold 75% of such goods during accounting year ended 31st March 2020. The market value of remaining goods was ₹ 43,000. Accountant valued closing stod at cost. According to him,
    1. Owner of the business is treated as creditor to the extent of his capital;
    2. All expenses incurred to earn revenue or a particular period should be charged against that revenue to determine the net income:
      Financial statements are prepared on 31st March every year.
  2. A business purchased goods for ₹ 200,000 and sold 75% of such goods during the accounting year ended 31st March, 2020. The market value of the remaining goody was ₹ 43,000 Accountant valued closing stock it cost: Identify the concept violated in the above situation.
    a) Matching
    b) Conservatism
    c) Business entity
    d) Accounting period
  3. Under which concept owner of the business is treated as creditor to the extent of his capital.
    a) Conservatism
    b) Business entity
    c) Matching
    d) Accounting period
  4. Match the following. Options are
    a. General reservei. reserve are created for specific purpose
    b. Specific reserveii. reserve may or may not involve any receipts of cash
    c. Capital reserveiii. created in business for rainy day
    a) a – (ii), b – (iii), c – (ii)
    b) a – (iii), b – (i), c – (ii)
    c) a – (iii), b – (ii), c – (i)
    d) a – (ii), b – (i), c – (iii)
  5. Which of the following is not a fixed asset?
    a) Computers
    b) Furniture
    c) Building
    d) Cash in hand
  6. Return of goods purchased on credit to the suppliers will be entered in ____ Book.
    a) Purchase
    b) Sales
    c) Sales Return
    d) Purchase Return
  7. When goods are returned to supplier assets and ________ are ________ by same amount.
    a) liabilities, increased
    b) assets, decreased
    c) liabilities, decreased
    d) assets, increased
  8. Which of the following is not a fixed asset?
    1. Balance with bank
    2. Plant and Machinery
    3. Building
    4. Goodwill
    a) B only
    b) C only
    c) A only
    d) D only


    Out of the following assets, which one is not an intangible asset?

    a) Patents
    b) Trade Mark
    c) Machinery
    d) Goodwill
  9. Goods sold for Cash Rs 25,000 plus 12% IGST. Sales A/c will be credited by:
    a) Rs 28,000
    b) Rs 22,000
    c) Rs 25,000
    d) None of these
  10. How secret reserve can be created
    a) All of these
    b) By charging capital expenditure to revenue
    c) Under valuating stock
    d) By making excessive provisions
  11. When an account is said to have a debit balance and credit balance?


    Pass Journal entry for purchase of goods by Amrit, Delhi from Add Gel Pens, Delhi for ₹ 15,000 less Trade Discount 10% and Cash Discount 3%. CGST and SGST is levied @ 6% each. Assume payment is made at the time of purchase.

  12. Why is the consistency principle important?


    What is meant by Accounting Standard? State any two benefits of it.

  13. Distinguish between debtors and creditors.
  14. Following balances were extracted from the books of Ravinder Associates as at 31st March, 2017:
    (₹) (₹)
    Sundry Debtors4,10,000Stock (April 1, 2016)2,30,000
    Sundry Creditors80,000Premises12,00,000
    Rent and Taxes48,000Fixtures & Fittings3,10,000
    Purchases34,00,000Bad Debts written off8,000
    Sales56,00,000Rent received from sub-let of part of premises30,000
    Trade Expenses12,000Loan from Mukul1,50,000
    Returns Outwards80,000Interest on Mukul’s Loan15,000
    Returns Inwards1,20,000Drawings40,000
    Expenses4,000Cash in hand75,000
    Motor Vehicles6,50,000Stock on 31st March, 2017
    Electricity25,000(not adjusted)3,80,000

    You are required to prepare the trial balance treating the difference as his capital.

  15. Record the following transactions in a cash book with cash and bank columns:
    Jan. 1Bank overdraft12,000
    Cash in hand2,300
    Jan. 7Cheque received from Ram ₹ 4,000 and discount allowed ₹ 200
    Jan. 8Deposited the above cheque into Bank4,000
    Jan. 12Banked200
    Jan. 15Received a money order from Gopal500
    Jan. 16Money is withdrawn from Bank for office use300
    Jan. 18Bank Charges20
    Jan. 20Interest on bank overdraft1,000
  16. From the following particulars ascertain the balance that would appear in the Bank Pass Book of A at 31st December 2013:
    1. The bank overdraft as per Cash Book on 31st December 2013 ₹ 63,400.
    2. Interest on overdraft for 6 months ending 31st December 2013, ₹ 1,600 is entered in the Pass Book.
    3. Bank charges of ₹ 300 for the above period are debited in the Pass Book.
    4. Cheques issued but not cashed prior to 31st December 2013 amounted to ₹ 11,680.
    5. Cheques paid into bank but not cleared before 31st December 2013 were for ₹ 21,700.
    6. Interest on investments collected by the bank is credited in the Pass Book ₹ 12,000.


    On 31st March 2018, the Bank Pass Book of Naresh & Co. showed an overdraft of Rs.10,700. From the following particulars prepare Bank Reconciliation Statement

    1. Cheques issued before 31-03-2018 but presented for payment after that date amounted to Rs.900.
    2. Cheques paid into the Bank but not collected and credited until 31-03- 2018 amounted to Rs.2,200.
    3. Interest on overdraft amounting to Rs.1,200 did not appear in the Cash Book.
    4. Rs.5,000 being interest on investments collected by the Bank and credited in the Pass Book were not shown in the Cash Book.
    5. Bank charges of Rs.50 were not entered in the Cash Book.
    6. Rs.800 in respect of dishonoured cheque were entered in the Pass Book but not in the Cash Book.
  17. On the basis of the narrations, fill in the missing values:

    Journal Entries

    DateParticularsL.F.Amount (Rs)Amount Cr. (Rs)
    To ________________
    (Being the bank draft of Rs 10,000 issued to Suman, bank charges Rs 100)
    To ________10,000
    (Being the cheque of Ranjan dishonoured)
    To ________________
    To ________________
    (Being the purchase of goods of Rs 30,000; received cash discount @ 2%)
    To ________________
    (Being the sale of goods of Rs 30,000 allowed cash discount @ 3% )
    To ________________
    (Being the goods costing Rs 15,000 lost in the fire)
    To ________10,000
    (Being the rent paid, {tex}\frac{1}{4}{/tex}th of the premises used for residence)
    To ________________
    To ________________
    To ________________
    (Being the machinery (cost Rs 2,00,000) recorded, adjusting advance (Rs 20,000), old machine (Rs 10,000 cost) and balance by payment by cheque)
    To ________20,000
    (Being a computer out of stock used for office purposes)
    To ________________
    (Being the computer (stock) costing Rs 15,000 taken for domestic use)
    To ________________
    To ________________
    (Being the salaries (Rs 40,000) and rent (Rs 15,000) outstanding)


    Journalise the following transactions:

    2017Amount (₹)
    Dec.01Hema started business with cash1,00,000
    Dec.02Open a bank account with SBI30,000
    Dec.04Purchased goods from Ashu20,000
    Dec.06Sold goods to Rahul for cash15,000
    Dec.10Bought goods from Tara for cash40,000
    Dec.13Sold goods to Suman20,000
    Dec.16Received cheque from Suman19,500
    Discount allowed500
    Dec.20Cheque given to Ashu on account10,000
    Dec.22Rent paid by cheque2,000
    Dec.23Deposited into bank16,000
    Dec.25Machine purchased from Parigya10,000
    Dec.26Trade expenses2,000
    Dec.28Cheque issued to Parigya10,000
    Dec.29Paid telephone expenses by cheque1,200
    Dec.31Paid salary4,500
  18. Trial Balance of Rahul did not agree. Rahul put the difference to Suspense Account. Subsequently, he located the following errors:
    1. Wages paid for the installation of Machinery Rs 600 was posted to Wages A/c.
    2. Repairs to Machinery Rs 400 debited to Machinery A/c.
    3. Repairs paid for the overhauling of second-hand machinery purchased Rs 1,000 was debited to Repairs A/c.
    4. Own business material 8,000 and wages Rs 2,000 were used for the construction of the building. No adjustment was made in the books.
    5. Furniture purchased for Rs 5,000 was posted to Purchases A/c as Rs 500.
    6. Old machinery sold to Karim at its Book value of Rs 2,000 was recorded through sales book.
    7. Total of Sales Returns Book Rs 3,000 was not posted to the ledger.
      Rectify the above errors and prepare Suspense Account to ascertain the original difference in Trial Balance.


    There was a difference of Rs. 8,595 in a trial balance. It has been transferred to debit side of suspense account. Later on following errors were discovered. Pass the rectifying entries and prepare the suspense account.

    1. Rs 283 discount received from a creditor had been duly entered in his account but not posted to discount account.
    2. Goods bought from a merchant for Rs 770 had been posted to the credit of his account as Rs. 7,700.
    3. Rs 6,000 owing by a customer had been omitted from the schedule of sundry debtors.
    4. An item of Rs 2,026 entered in the sales return book had been posted to the debit of the customer who returned the goods.
  19. On 1st April, 2016 a firm purchased machinery for ₹ 3,00,000. On 1st October, 2016, additional machinery costing ₹ 1,50,000 was purchased On 1st October, 2017, the machinery purchased on 1st April, 2016 having become obsolete, was sold for ₹ 1,35,000. On 1st October, 2018, new machinery was purchased for ₹ 3,75,000 while the machinery purchased on 1st October, 2016 was sold for ₹ 1,27,500 on the same day. The firm provides depreciation on its machinery @ 10% per annum on original cost on 31st March every year.
    Show Machinery Account, Provision for Depreciation Account and Depreciation Account for the period of three accounting years ending 31st March, 2019.


    You are given following balances as on 1st April 2014:
    Plant & Machinery A/c Rs 25,00,000
    Provision for Depreciation A/c Rs 5,80,000
    Depreciation is charged on the plant at 20% p.a. by the diminishing balance method. A piece of machinery purchased on 1st April 2012 for Rs 5,00,000 was sold on 1st October 2014 for Rs 3,00,000.
    Prepare the Plant & Machinery Account and Provision for Depreciation Account for the Year ended 31st March 2015.
    Also, prepare Machinery Disposal Account.

  20. Class 11 Accountancy Sample Paper Part B

  21. The time between the acquisition of an asset for processing and its conversion into cash and cash equivalent is called
    a) Production cycle
    b) Operating cycle
    c) None of these
    d) Time gap


    _____ is the arrangement of various assets and liabilities in a particular order

    a) Marshalling
    b) Grouping
    c) All of these
    d) Balancing
  22. Loss on sale of an old car is debited to:
    a) Profit and Loss A/c
    b) Depreciation A/c
    c) None of these
    d) Car A/c
  23. Closing Stock, if given outside the Trial Balance is shown in:
    a) Profit and Loss Account
    b) Trading Account and Balance Sheet
    c) Profit and Loss Account and Balance Sheet
    d) Balance Sheet


    Calculate provision for doubtful debt. If debtor closing balance is Rs.3,400 and provision for the reserve of doubtful debts at 10% on sundry debtors

    a) Rs.2,060
    b) Rs.3,400
    c) Rs.340
    d) Rs.3,060
  24. Distinguish between Capital Receipts and Revenue Receipts.
  25. From the following information, prepare the Trading Account for the year ended 31st March, 2017:
    Adjusted Purchases ₹ 15,00,000; Sales ₹ 21,40,000; Returns Inwards ₹ 40,000; Freight and Packing ₹ 15,000; Packing Expenses on Sales ₹ 20,000; Depreciation ₹ 36,000; Factory Expenses ₹ 60,000; Closing Stock ₹ 1,20,000.
  26. Why is it necessary to create a provision for doubtful debts at the time of preparation of final accounts?
  27. Following is the Trial Balance of Shamit on 31st March, 2019. Pass closing entries and prepare Trading and Profit and Loss Account for the year ended 31st March, 2019.

    TRIAL BALANCE as on 31st March, 2019

    Capital A/c1,00,000
    Stock A/c (1st April, 2018)20,000
    Cash at Bank10,000
    Cash In Hand4,400
    Machinery A/c60,000
    Furniture and Fittings A/c13,600
    Purchases A/c1,50,000
    Wages A/c1,00,000
    Power and Fuel A/c30,000
    Factory Lighting A/c2,000
    Salaries A/c70,000
    Discount Allowed A/c5,000
    Discount Received A/c3,000
    Advertising A/c50,000
    Sundry Office Expenses A/c40,000
    Sales A/c5,00,000
    Sundry Debtors85,000
    Sundry Creditors37,000

    Value of Closing Stock as on 31st March, 2019 was ₹ 27,000


    From the following trial balance, prepare the trading and profit and loss account for the year ended 31st March 2013 and the balance sheet as at that date

    Name of AccountDebit
    Name of AccountCredit
    Debit BalancesRent, Rates, and Taxes800
    Sundry Debtors1,500Salaries2,000
    Stock on 1 st April 20125,000Drawings2,000
    Land and building10,000Purchases10,000
    Cash in hand1,600Office expenses2,500
    Cash at bank400Plant and machinery5,700
    Wages3,000Credit Balances
    Bills Receivable2,000Capital25,000
    Bad debts500Sundry creditors7,000
    Furniture and fixtures1,500Bills payable400

    On 31st March 2013, the stock was valued at Rs. 10,000.

  28. From the following Trial Balance of Mr. Alok, prepare Trading and Profit & Loss Account for the year ending 31st March, 2019, and a Balance Sheet as at that date:-
    Dr. BalancesCr. Balances
    Bills Receivable4,750Loan at 8% p.a. (on 1.4.2018)10,000
    Machinery14,400Commission Received2,820
    Debtors (including X for dishonoured Bill of ₹1,000)30,000Creditors29,815
    Returns Inward2,390
    Stock (1.4.2018)44,840
    Travelling Expenses945
    Interest on Loan500
    Discount Allowed2,435

    The following adjustments are to be made :

    1. Stock in the shop on 31st March, 2019 was ₹ 64,480.
    2. Half the amount of X’s Bill is irrecoverable.
    3. Create a provision of 5% on other debtors.
    4. Wages include ₹ 600 for erection of new Machinery.
    5. Depreciate Machinery by 5% and Furniture by 10%.
    6. Commission includes ₹300 being Commission received in advance.

    To practice more questions & prepare well for exams, download myCBSEguide App. It provides complete study material for CBSE, NCERT, JEE (main), NEET-UG and NDA exams. Teachers can use Examin8 App to create similar papers with their own name and logo.


    From the following trial balance extracted from the books of MMN, prepare the trading and profit and loss account for the year ended 31st December, 2013 and the balance sheet as at that date.

    Name of AccountsDebit Balance(Rs)Credit Balance(Rs)
    Land and buiding25,000
    Plant and machinery14,270
    Furniture and fixtures1,250
    Carriage inwards4,370
    Provision for bad debts2,470
    Sales return1,760
    Bank charges140
    Coal, gas and water720
    Rates and taxes840
    Purchases return8,460
    Bills receivable1,270
    Trade expenses1,990
    Sundry debtors37,800
    Sundry creditors12,170
    Stock (1st January, 2013)26,420
    Apprentice premium500
    Fire insurance490
    Cash at bank13,000
    Cash in hand850

    Additional Adjustments
    Charge depreciation on land and building at 2{tex}\frac 12{/tex}%, on plant and machinery account at 10% and on furniture and fixtures at 10%. Make a provision of 5% on debtors for doubtful debts. Carry forward the following unexpired amounts.

    1. Fire insurance Rs 125
    2. Rates and taxes Rs 240
    3. Apprentice premium Rs 400
    4. Closing stock Rs 29,390

Class 11 – Accountancy Sample Paper – 01 (Solution)


  1. Class 11 Accountancy Sample Paper Part A Solution

  2. (c) Transfer
    Explanation: Transfer
  3. (a) Both A and R are true and R is the correct explanation of A.
    Explanation: Both A and R are true and R is the correct explanation of A.
  4. (b) Real Account
    Explanation: Goodwill account is a Real Account, goodwill is an intangible asset and all assets are real.
  5. (a) ₹ 41,000
    Explanation: Rs. (5000+12,000+30,000-6,000)=₹ 41,000


    (a) increase in asset and decrease in the asset
    Explanation: Purchase of machine by cash means an increase in asset and decrease in the asset. For example Machinery purchase at Rs. 10,000 so Machinery increase and Rs. 10,000 Cash decrease.

  6. (b) Both Cash Memo and Invoice
    Explanation: yes. Cash memo are prepared on cash sale or cash purchase and Invoices are on credit transaction of sale and purchase.
    these both are source documents, on the basis of which we record transaction.
  7. (d) Statement of profit and loss
    Explanation: The other name of Profit and loss account is the income statement.


    (a) Evidence in Legal Matters
    Explanation: Evidence in Legal Matters is not part of a limitation of accounting.
    To practice more questions & prepare well for exams, download myCBSEguide App. It provides complete study material for CBSE, NCERT, JEE (main), NEET-UG and NDA exams. Teachers can use Examin8 App to create similar papers with their own name and logo.

  8. (d) Option (iv)
    Explanation: Option (iv)
  9. (c) Dr. all expenses and Cr all gains & Dr. what goes out and Cr what comes in
    Explanation: Impersonal account means account other than personal.
    Rule of Personal account is debit the receiver credit the giver.
    So, option 3 and option 4 is other than personal means Impersonal.


    (a) Debit Balance
    Explanation: While preparing an account if the debit side is greater than the credit side, the difference is called “Debit Balance”. So, if Debit Side > Credit Side, it is a debit balance.

  10. (b) Conservatism
    Explanation: Conservatism
  11. (b) Business entity
    Explanation: Business entity
  12. (b) a – (iii), b – (i), c – (ii)
    Explanation: General reserve is created for no specific purpose to meet any unforeseen contingency, specific reserve is created to meet a specific expense and capital reserves are created out of capital profits which may or may not involve cash receipt.
  13. (d) Cash in hand
    Explanation: Cash in hand is a current asset, not a fixed asset.
  14. (d) Purchase Return
    Explanation: We prepare seprate books of credit transaction for purchase, sale , purchase return or sale return. So, when we return goods to the which are purchase on credit from supplier it will be recorded in purchase return book.
  15. (c) liabilities, decreased
    Explanation: Stock (assets) will reduce due to purchase return and creditors (liabilities) will also decrease by the same amount.
  16. (c) A only
    Explanation: Balance with the bank is not a fixed asset. It is current asset.


    (c) Machinery
    Explanation: Machinery is not an intangible asset. It is tangible assets.

  17. (c) Rs 25,000
    Explanation: Cash A/c … Dr. … 28,000
    To Sales A/c … 25,000
    To IGST A/c … 3,000
    So, Sales A/c will be credited by Rs 25,000.
  18. (a) All of these
    Explanation: Secret Reserve :- A secret reserve is one whose existence is not disclosed in the balance sheet. It can be created by all the methods mentioned above by suppressing sales, by charging over depreciation etc. It is created without showing to public.
  19. The difference between the sum of the two sides of an account is called the balance. This is the most important part of an account as it shows value or position of asset, liability, capital, income or expenses of which the account is a record. If the total of the debit side exceeds the total of credit side then this would be represented by a debit balance and opposite is true for a credit balance.


    Journal Entries
    In The Books Of Amrit, Delhi

    S.No.ParticularsL.F.Dr. (₹)Cr. (₹)
    Purchases A/cDr.13,500
    Input CGST A/cDr.810
    Input SGST A/cDr.810
    To Cash A/c14,666
    To Discount Received A/c454
    (Goods purchased for cash and discount received)

    Working Notes:

    List Price15,000
    Less: Trade Discount @ 10%1,500
    Value of Goods13,500
    Add: CGST @ 6%810
    Add: SGST @ 6%810
    Invoice Value15,120
    Less: Cash Discount @ 3%454
    Amount Paid14,666
  20. It is assumed that accounting policies are consistent from one period to another. The consistency principle states that companies should use the same accounting treatment for similar events and transactions over time. In other words, companies shouldn’t use one accounting method today, use another tomorrow, and switch back the day after that. Similar transactions should be accounted for using the same accounting method over time. This creates consistency in the financial information given to creditors and investors.
    The realization concept states that no revenue should be recognized unless it has been realized. The prudence principle puts a further brake on it. It is not prudent to record unrealized gain but it is desirable to guard against all possible losses. Conservatism can be a useful tool in situations of uncertainty and doubt, but the abuse of this principle can definitely lead to misleading and incorrect financial statements.


    An accounting standard is a common set of principles, standards and procedures that define the basis of financial accounting policies and practices. Accounting standards improve the transparency of financial reporting in all countries. Accounting standards are principles that guide and standardizes the process of accounting and is notified by the Ministry of Corporate Affairs.
    The advantages are:

    1. Accounting practice is standardized and hence comparison of accounts of different companies is possible.
    2. Window dressing manipulation is not possible.
  21. Basis of DifferenceDebtorsCreditors
    (i) MeaningPersons or organizations that are liable to pay money to a firm are called debtors.Persons or organizations to whom the firm is liable to pay money are called creditors.
    (ii) NatureThey have debit balance in the firm’s books.They have a credit balance in the firm’s books.
    (iii) SettlementAmount due is received from them.Payments are made to them.
    (iv) TreatmentThey are shown as assets in the Balance Sheet under Current Assets.They are shown as liabilities in the Balance Sheet under Current Liabilities.
  22. Books of  Ravinder Associates
    Trial Balance

    as on March 31, 2017

    Name of AccountsL.F.Dr. (₹)Cr. (₹)
    Sundry Debtors4,10,000
    Sundry Creditors80,000
    Rent & Taxes48,000
    Trade Expenses12,000
    Return Outwards80,000
    Return Inwards1,20,000
    Motor Vehicles6,50,000
    Opening Stock (on April 01, 2004)2,30,000
    Fixture & Fittings3,10,000
    Bad Debts written off8,000
    Loan from Mukul1,50,000
    Interest on Mukul’s Loan15,000
    Cash in Hand75,000
    Rent received from Sub-let of part of Premises30,000
    Capital (Balancing Figure)6,07,000

    Note: Closing Stock of Rs 3,80,000 will not appear in Trial Balance, it will be shown after trial balance.
    Balance remains in trial balance is recorded as capital according to question.

  23. Cash Book

    DateParticularsL.F.Cash ()Bank ()DateParticularsL.F.Cash ()Bank ()
    Jan. 1To Balance b/d2,300Jan. 1By Balance b/d12,000
    8To Cheques-in-Hand A/c4,00012By Bank A/cC200
    12To Cash A/cC20016By Cash A/cC300
    15To Gopal’s A/c50018By Bank Charges A/c20
    16To Bank A/cC30020By Interest on O/D1,000
    31To Balance c/d9,12031By Balance c/d2,900
    Feb. 1To Balance b/d2,900Feb. 1By Balance b/d9,120

    Journal Entry

    DateParticularsL.F.Debit ()Credit ()
    Feb 8Cheques-in-hand A/cDr.4,000
    Discount allowed A/cDr.200
    To Ram’s A/c
    (Being cheque received from Ram)
  24. Bank Reconciliation Statement
    as on 31st December 2013

    ParticularsAmount (₹)
    Bank Overdraft  Balance as per Cash Book63,400
    Add: Interest debited in Pass Book but not yet entered in Cash Book1,600
    Add: Bank charges debited in Pass Book but not yet entered in Cash Book300
    Add: Cheques paid in bank but not yet credited by bank21,700
    Less: Cheques issued but not yet presented in bank11,680
    Less: Interest collected and credited by bank but not entered in Cash Book12,000
    Bank Overdraft Balance as per Pass Book63,320


    as on March 31, 2018

    Unfavourable balance as per Pass Book (Dr.)10,700
    Cheques not yet presented900
    Cheques but not yet collected2,200
    Interest on Investment5,000
    Cheques dishonoured800
    Interest on overdraft debited by bank1,200
    Bank charges debited by bank50
    Unfavourable balance as per Cash Book (Cr.) (Balancing figure)12,350
  25. Journal Entries

    DateParticularsL.F.Amount Dr (Rs)Amount Cr. (Rs)
    (i)Suman’s A/cDr.10,000
    Bank Charges A/cDr.100
    To Bank Account10,100
    (Being the bank draft of Rs 10,000 issued to Suman, bank charges Rs 100 from the bank Account )
    (ii)Ranjan’s A/cDr.10,000
    To Bank A/c10,000
    (Being the cheque Rs 10,000 already received from Ranjan now made dishonoured )
    (iii)Purchases A/cDr.30,000
    To Cash A/c (30,000 – 600)29,400
    To Discount Received A/c (30,000 {tex}\times{/tex} {tex}\frac{2}{100}{/tex})600
    (Being the purchase of goods of Rs 30,000; received cash discount @ 2% from supplier )
    (iv)Cash A/c (30,000 – 900)Dr.29,100
    Discount Allowed A/c (30,000 {tex}\times{/tex} {tex}\frac{3}{100}{/tex})Dr.900
    To Sales A/c30,000
    (Being the sale of goods of Rs 30,000 allowed cash discount @ 3%)
    (v)Loss by Fire A/cDr.15,000
    To Purchases A/c15,000
    (Being the goods costing Rs 15,000 lost in the fire)
    (vi)Rent A/c (10,000 {tex}\times{/tex} {tex}\frac{3}{4}{/tex})Dr.7,500
    Drawings A/c(10,000 {tex}\times{/tex} {tex}\frac{1}{4}{/tex})Dr.2,500
    To Bank A/c10,000
    (Being the rent paid and {tex}\frac{1}{4}{/tex}th of the premises used for residence of owner)
    (vii)Machinery A/c (New Machine)Dr.2,00,000
    To Advance for Machinery A/c20,000
    To Machinery A/c (old machinery)10,000
    To Bank A/c (Balancing Figure)1,70,000
    (Being the machinery (cost Rs 2,00,000) recorded in books by adjusting advance given to supplier  (Rs 20,000) and old machine (Rs 10,000 cost) and balance by payment made by cheque)
    (viii)Computer A/cDr.20,000
    To Purchases A/c20,000
    (Being a computer out of stock of Rs 20,000 are used for office purposes for the company)
    (ix)Drawings A/cDr.15,000
    To Purchases A/c15,000
    (Being the computer (stock) costing Rs 15,000 are taken for domestic use of owner recorded in the books)
    (x)Salaries A/cDr.40,000
    Rent A/cDr.15,000
    To Salary Outstanding A/c40,000
    To Rent Outstanding A/c15,000
    (Being the salaries (Rs 40,000) and rent (Rs 15,000) are outstanding now recorded in the books )


    Journal of Hema

    DateParticularsL.F.Debit (₹)Credit (₹)
    Dec. 01Cash A/cDr.1,00,000
    To Capital A/c1,00,000
    (Started business with cash)
    Dec. 02Bank A/cDr.30,000
    To Cash A/c30,000
    (Bank account opened with SBI)
    Dec. 04Purchases A/cDr.20,000
    To Ashu20,000
    (Goods purchased from Ashu)
    Dec. 06Cash A/cDr.15,000
    To Sales A/c15,000
    (Goods sold for cash)
    Dec. 10Purchases A/cDr.40,000
    To Cash A/c40,000
    (Goods purchased for cash)
    Dec. 13SumanDr.20,000
    To Sales A/c20,000
    (Goods goods to Suman)
    Dec. 16Bank A/cDr.19,500
    Discount Allowed A/cDr.500
    To Suman20,000
    (Cheque received from Suman and discount allowed)
    Dec. 20AshuDr.10,000
    To Bank A/c10,000
    (Cheque forwarded to Ashu)
    Dec.b22Rent A/cDr.2,000
    To Bank A/c2,000
    (Rent paid by cheque)
    Dec.b23Bank A/cDr.16,000
    To Cash A/c16,000
    (Cash deposited into bank)
    Dec. 25Machinery A/cDr.10,000
    To Parigya10,000
    (Machinery purchased from Parigya)
    Dec. 26Trade Expenses A/cDr.2,000
    To Cash A/c2,000
    (Trade expenses paid)
    Dec. 28ParigyaDr.10,000
    To Bank A/c10,000
    (Cheque issued to Parigya)
    Dec. 29Telephone Expenses A/cDr.1,200
    To Bank A/c1,200
    (Telephone expenses paid through cheque)
    Dec. 30Salaries A/cDr.4,500
    To Cash A/c4,500
    (Salary paid)
  26. In the Books of Rahul
    Journal Entries

    DateParticularsL.F.Debit Amount (Rs)Credit Amount (Rs)
    (i)Machinery AccountDr.600
    To Wages Account600
    (Being wages paid for the installation of machinery wrongly debited to wages account, now entry is rectified)
    (ii)Repairs AccountDr.400
    To Machinery Account400
    (Being Repairs paid wrongly debited to Machinery account now entry is rectified)
    (iii)Machinery AccountDr.1,000
    To Repairs Account1,000
    (Being Repairs for overhauling of second-hand machinery purchased, wrongly debited to Repairs account, now entry is rectified)
    (iv)Building AccountDr.10,000
    To Purchases Account8,000
    To Wages Account2,000
    (Being material and wages used for the construction of the building, not debited to building accounts, now entry is rectified)
    (v)Furniture AccountDr.5,000
    To Purchases Account500
    To Suspense Account4,500
    (Being Furniture purchased for Rs 5,000 wrongly debited to purchases account as Rs 500, now entry is rectified)
    (vi)Sales AccountDr.2,000
    To Machinery Account2,000
    (Being Sale of Machinery wrongly recorded in the sales book, now entry is rectified)
    (vii)Sales Return AccountDr.3,000
    To Suspense Account3,000
    (Being total of Sales Returns Book not posted to the ledger, now entry is rectified)

    Suspense Account

    DateParticularsL.F.Amount (Rs)DateParticularsL.F.Amount (Rs)
    To Difference as per Trial Balance7,500By Furniture A/c4,500
    By Sales Returns A/c3,000


    Rectifying Entries

    S. No.ParticularsL.F.Dr.(Rs.)Cr. (Rs.)
    1.Suspense A/cDr.283
      To Discount Received A/c283
    (Being Discount received Rs.283, not posted in the books, now corrected.)
    2.Supplier A/cDr.6930
      To Suspense A/c6930
    (Being brought goods for Rs.770, wrongly posted to supplier a/c as Rs.7700, now rectified.)
    3.Debtors A/cDr.6,000
      To Suspense A/c6,000
    (Being owing by a customer, not included in the list of Sundry Debtors, now rectified.)
    4.Suspense A/cDr.4,052
      To Customer A/c4,052
    (Being goods of Rs.2,026 returned by customer, wrongly debited to customer a/c now corrected.)

    Suspense A/c

    To Balance b/d8,595By Supplier6,930
    To Discount Received283By Debtors6,000
    To Customer4,052

    April 1To Bank A/c (Mach. I)3,00,000March 31By Balance c/d4,50,000
    Oct. 1To Bank A/c (Mach. II)1,50,000
    April 1To Balance b/d4,50,000Oct. 1By Bank A/c (Mach. I) (Sale)1,35,000
    Oct. 1By Provision for Depreciation A/c45,000
    Oct. 1By Loss on Sale of Machinery A/c
    (Profit and Loss A/c) (WN 3)
    March 31By Balance c/d1,50,000
    April 1To Balance b/d1,50,000Oct. 1By Bank A/c (Mach. II) (Sale)1,27,500
    Oct. 1To Bank A/c (Mach. III) (Sale)3,75,000Oct. 1By Provision for Depreciation A/c30,000
    Oct. 1To Gain on Sale of Machinery A/c
    (Profit and Loss A/c) (WN 3)
    7,500March 31By Balance c/d3,75,000


    March 31To Balance c/d37,500March 31By Depreciation A/c37,500
    Oct. 1To machinery A/c (Mach. I)45,000April 1By Balance b/d37,500
    (₹ 30,000 + ₹ 15,000)Oct. 1By Depreciation A/c (Mach. I)15,000
    March 31To Balance c/d22,500March 31By Depreciation A/c15,000
    Oct. 1To Machinery A/c (Mach.II)30,000April 1By Balance b/d22,500
    (₹ 7,500 + ₹ 15,000 + ₹ 7,500)Oct. 1By Depreciation A/c (Mach. II)7,500
    March 31To Balance c/d18,750March 31By Depreciation A/c18,750
    April 1By Balance b/d18,750


    March 31To Provision for Depreciation A/c37,500March 31By Profit and Loss A/c37,500
    Oct. 1To Provision for Depreciation A/c15,000March 31By Profit and Loss A/c30,000
    March 31To Provision for Depreciation A/c15,000
    Oct. 1To Provision for Depreciation A/c7,500March 31By Profit and Loss A/c26,250
    March 31To Provision for Depreciation A/c18,750

    Working Notes:

    1. Calculation of Accumulated Depreciation on Machine I:
      Depreciation for 2016 – 1730,000
      Depreciation for 2017 – 18 (Sold on 1st October, 2018)15,000
      Accumulated Depreciation45,000
    2. Calculation of Depreciation on Machine II:
      Depreciation for 2016 – 17 (Purchased on 1st October, 2016)7,500
      Depreciation for 2017 – 1815,000
      Depreciation for 2018 – 19 (Sold on 1st October, 2018)7,500
      Accumulated Depreciation30,000
    3. Calculation of Gain/(Loss) on Sale of Machine I:Machine I ₹Machine II ₹
      Cost of Machinery3,00,0001,50,000
      Less: Accumulated Depreciation (till the date of sale)45,00030,000
      Book Value on Date of Sale (A)2,55,0001,20,000
      Sales Proceeds (B)1,35,0001,27,500
      Gain/(Loss) on sale (B – A)1,20,0007,500
    4. Depreciation under the straight-line method is calculated on original cost of asset after reducing salvage value. Each year same amount of depreciation is charged. When provision for depreciation account is prepared depreciation is charged through provision for depreciation account and not asset account.


    Machinery Account

    DateParticularsJ.F.Amount (Rs)DateParticularsJ.F.Amount (Rs)
    2014 April 1To Balance b/d25,00,0002014 Oct. 1By Machinery Disposal Account5,00,000
    2015 March 31By Balance c/d20,00,000
    2015 April 1To Balance b/d20,00,0002016 March 31By Balance c/d20,00,000

    Provision for Depreciation Account

    DateParticularsJ.F.Amount (Rs)DateParticularsJ.F.Amount (Rs)
    2013 March 31To Machinery Disposal Account (WN1)2,12,0002014 April 1By Balance b/d5,80,000
    2014 Oct. 1By Depreciation Account (WN 1)32,000
    2015 March 1To Balance b/d7,20,0002015 March 31By Depreciation Account (WN 2)3,20,000
    2016 April 1By Balance b/d7,20,000

    Machinery Disposal Account

    DateParticularsJ.F.Amount (Rs)DateParticularsJ.F.Amount (Rs)
    2014 Oct. 1To Machinery Disposal Account5,00,0002014 Oct. 1By Bank Account (Sale of machinery)3,00,000
    2014 Oct. 1To Profit  & Loss Account (Gain on sale of machinery)12,0002014 Oct. 1By Provision for Depreciation Account2,12,000

    Working Note:

    S.No.ParticularAmount (Rs)
    1.Depreciation Provided on Machinery sold till 31st Oct. 2014:
    For 2012-2013 (5,00,000 {tex}\times{/tex} {tex}\frac{20}{100}{/tex})1,00,000
    For 2013-2014  (400000 {tex}\times{/tex} {tex}\frac{20}{100}{/tex})80,000
    For 2014-2015   (320000 {tex}\times{/tex} {tex}\frac{20}{100}{/tex} {tex}\times{/tex} {tex}\frac{6}{12}{/tex})32,000
    Total Depreciation on Machinery sold2,12,000
    2.Calculation of Depreciation on machinery provided for 2014-15:
    Balance of provision for Depreciation on 1st April 20145,80,000
    Add: Depreciation Provided on Sold Machinery32,000
    Less: Accumulated Depreciation on Machinery sold (WN 1)2,12,000
    Depreciation on the Remaining Machinery4,00,000
    Cost of Remaining Machinery20,00,000
    Less: Depreciation on Remaining Machinery4,00,000
    WDV of Remaining Machinery16,00,000
    Depreciation on machinery provided during 2014 – 15: 16,00,000 {tex}\times{/tex} {tex}\frac{20}{100}{/tex} = Rs 3,20,000
  28. Class 11 Accountancy Sample Paper Part B Solution

  29. (b) Operating cycle
    Explanation: it included all the steps from purchasing the raw material and converting it in to finished goods and then selling it.


    (a) Marshalling
    Explanation: marshalling refers to the arrangement of assets and liabilities in particular order. it can be done in two ways- on the basis of permanence and on the basis of liquidity.

  30. (a) Profit and Loss A/c
    Explanation: Loss on sale of the car will be transferred to Profit and Loss A/c.
  31. (b) Trading Account and Balance Sheet
    Explanation: Closing stock will be shown in the Trading Account and Balance Sheet if given outside the Trial balance.


    (c) Rs.340
    Explanation: Amount of Provision for doubtful debts = 10% of 3,400 = 340

  32. Capital ReceiptsRevenue Receipts
    Amount received from the sale of fixed assets or investments i.e., non-current assets.Money obtained from the sale of goods or services.
    Capital contributed by proprietors, partners or money obtained from the issue of shares and debentures in case of the company.Commission and fees received for services rendered.
  33. Trading Account
    for the year ended 31st March, 2017

    ParticularsAmount ()ParticularsAmount ()
    To Adjusted Purchases15,00,000By Sales21,40,000
    To Freight and Packing15,000Less: Return Inwards40,00021,00,000
    To Factory Expenses60,000
    To Gross Profit (Balancing Figure)5,25,000

    Working Notes:
    Calculation of Adjusted Purchases = Opening Stock + Net Purchases – Closing Stock
    Point of Knowledge:
    Closing stock is not showing separately in the trading account as it is already subtracted in adjusted purchases.
    Packing Expenses on Sales’ and ‘Depreciation’ are indirect expenses and hence not debited to the Trading A/c.

  34. For recording business transactions, the convention of conservatism is followed which states that provision should be made for expected profit and gains should not be accounted for. As it is not possible to accurately know the amount of bad debts. Therefore, in order to bring an element of certainty in the amount of bad debts from debtors a provision for doubtful debts is created to cover the loss of possible bad debts.  A firm must be convinced with the amount of net debtors which it is going to realize by the end of the financial year and for this purpose, provision for doubtful debts certainly provides a helping hand.

    March 31Trading A/c3,02,000
    To Stock A/c20,000
    To Purchases A/c1,50,000
    To Wages A/c1,00,000
    To Power and Fuel A/c30,000
    To Factory Lighting A/c
    (Bein the direct expenses debited to Trading Account)
    March 31Sales A/c5,00,000
    To Trading A/c
    (Bein the amount of Sales transferred to the credit of the Trading Account)
    March 31Stock (Closing) A/c27,000
    To Trading A/c27,000
    (Being the value of stock on hand on 31 st March, 2019)
    March 31Trading A/c2,25,000
    To Profit and Loss A/c
    (Being the transfer of gross profit)
    March 31Profit and Loss A/c1,65,000
    To Discount Allowed A/c5,000
    To Salaries A/c70,000
    To Advertising A/c50,000
    To Sundry Office Expenses A/c
    (Being the various indirect expenses accounts transferred to the debit of the Profit and Loss Account)
    March 31Discount Received A/c3,000
    To Profit and Loss A/c
    (Being the credit balance of discount received transferred to the profit and Loss Account)
    March 31Profit and Loss A/c63,000
    To Capital A/c
    (Being the transfer of Net Proft to the Capital Account)

    TRADING ACCOUNT OF SHAMIT for the year ended 31st March, 2019

    To Stock20,000By Sales5,00,000
    To Purchases1,50,000By Closing Stock27,000
    To Wages1,00,000
    To Power and Fuel30,000
    To Factory Lighting2,000
    To Gross  Profit c/d2,25,000
    (Transferred to Profit and Loss A/c)

    for the year ended 31st March, 2019

    To Salaries70,000By Gross Profit2,25,000
    To Discount Allowed5,000By Discount Received3,000
    To Advertising50,000
    To Sundry Office Expenses40,000
    To Net Profit63,000
    (Transferred to Capital A/c)


    Trading & Profit and Loss A/c 

    To Opening Stock5,000By Sales17,000
    To Purchase10,000By Closing Stock10,000
    To Wages3,000
    To Gross Profit c/d9,000
    To Interest200By Gross Profit b/d9,000
    To Office Expense2,500By Interest600
    To Salaries2,000
    To Rent, rates and taxes800
    To Depreciation1,000
    To Repairs300
    To Bad Debts500
    To Net Profit2,300

    Balance Sheet 

    Add Net Profit2,300Stock10,000
    Less Drawings2,00025,300Plant & Machinery5,700
    Furniture & Fixture1,500
    Creditors7,000Bills Receivables2,000
    Bills Payable400Land & Building10,000

    In order to arrive at the balance sheet of a business, one needs to prepare the trading account and profit and loss account first. This account is prepared to arrive at the figure of revenue earned or loss incurred during a period.

  36. Trading Account of Mr. Alok
    for the year ended March 31, 2019

    To Opening Stock44,840By Sales1,78,215
    To Purchases1,28,295Less: Return Inwards2,3901,75,825
    To Wages20,485By Closing Stock64,480
    Less: Erection Charges of New Machinery60019,885
    To Gross Profit (Balancing Figure)47,285

    Profit and Loss Account of Mr. Alok
    for the year ended March 31, 2019

    To Depreciation:By Gross Profit47,285
    Machinery750By Commission2,820
    Furniture4481,198Less: Comm. Received in advance3002,520
    To Old Bad Debts1,810
    Add: Further Bad Debts500
    Add: New Provision1,4503,760
    To Rent2,810
    To Interest on Loan500
    Add: Outstanding300800
    To Salaries5,500
    To Travelling Expenses945
    To Insurance200
    To Repairs1,685
    To Discount Allowed2,435
    To Net Profit (Balancing Figure)30,472

    Balance Sheet of Mr. Alok
    as at March 31, 2019

    Capital59,700Fixed Assets
    Add: Net Profit30,472Machinery14,400
    Less: Drawings5,27584,897Add: Erection charges600
    8% Loan10,000Less: Depreciation75014,250
    Current LiabilitiesFurniture4,480
    Creditors29,815Less: Depreciation4484,032
    Outstanding Interest300Current Assets
    Commission received in advance300Closing Stock64,480
    Bills receivables4,750
    Less: Bad Debts500
    Less: Pro. for Doubtful Debts1,45028,050
    Cash in Hand9,750

    Working Note:-
    Calculation of Depreciation:-
    Depreciation of Machinery = ₹14,400 + ₹600 {tex}\times {/tex} 5% = ₹  750
    Calculation of Provision for Doubtful debts:-
    Provision for doubtful debts = Sundry Debtors – Further Bad debts – Amount recovered {tex}\times {/tex} Rate
    Provision for doubtful debts = (₹30,000 – ₹500 – ₹500) {tex}\times{/tex} 5%
    Provision for doubtful debts = ₹1,450
    When adjustments are given in trial balance all the adjustments will be taken in the balance sheet only. Adjustments that are given after trial balance will be shown both in trading and profit and loss account and balance sheet.
    To practice more questions & prepare well for exams, download myCBSEguide App. It provides complete study material for CBSE, NCERT, JEE (main), NEET-UG and NDA exams. Teachers can use Examin8 App to create similar papers with their own name and logo.


    The Trading and Profit and Loss account & Balance Sheet of MMN will be prepared in the following manner :

    Trading and Profit and loss Account
    for the year ended 31st December, 2013

    To Opening Stock26,420By Sales91,230
    To purchases42,160Less : Sales Return(1,760)89,470
    Less : Purchases Return(8,460)33,700By Closing Stock29,390
    To Wages21,470
    To Carriage Inwards4,370
    To Coal, Gas and Water720
    To Gross Profit transferred to Profit & Loss A/c32,180
    To Salaries4,670By Gross Profit b/d32,180
    To Bank Charges140By Discount120
    To Rates and Taxes840By Apprentice Premium(note 1)500
    (-)Prepaid rates & taxes(240)600(-)Unexpired Premium(400)100
    To Trade Expenses1,990By Old Provision for Doubtful Debts2,470
    To Fire Insurance490
    (-)Prepaid insurance(125)365
    To Provision for Doubtful Debts
    To Depreciation on
    Land and Building625
    Plant and Machinery1,427
    Furniture and fixtures1252,177
    To Net Profit Transferred to Capital A/c23,038

    Balance Sheet
    as at 31st December,2013

    Sundry Creditors12,170Land and Building25,000
    Apprentice Premium Received in Advance400(-)Depreciation(625)24,375
    Capital90,000Plant and Machinery14,270
    (+)Net Profit23,038(-)Depreciation(1,427)12,843
    1,13,038Furniture and Fixtures1,250
    Opening Balance10,000Debtors37,800
    (-)Drawings4,452(-)Provision for Doubtful Debts(1,890)25,910
    5,548Bills Receivable1,270
    (+)Net Profit gtransferred from Profit & Loss A/c37,66643,214Closing Stock29,390
    Cash at Bank13,000
    Cash in Hand850
    Prepaid fire insurance125
    Prepaid Rates and Taxes240

    Note :
    1. Apprenticeship premium is a revenue income of the business. Unearned premium means, premium received in advance. Thus, it has been deducted from the income received. The amount of unearned premium will be shown in the liability side of Balance sheet.

CBSE Sample Papers for Class 11 All Subjects

To download sample paper for class 11 Physics, Chemistry, Biology, History, Political Science, Economics, Geography, Computer Science, Home Science, Accountancy, Business Studies and Home Science; do check myCBSEguide app or website. myCBSEguide provides sample papers with solution, test papers for chapter-wise practice, NCERT solutions, NCERT Exemplar solutions, quick revision notes for ready reference, CBSE guess papers and CBSE important question papers. Sample Paper all are made available through the best app for CBSE students and myCBSEguide website.

myCBSEguide App

Test Generator

Create question paper PDF and online tests with your own name & logo in minutes.

Create Now
myCBSEguide App


Question Bank, Mock Tests, Exam Papers, NCERT Solutions, Sample Papers, Notes

Install Now

2 thoughts on “CBSE Sample Papers Class 11 Accountancy 2024”

Leave a Comment