Sample paper for class 11 Accountancy

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Sample Paper for class class 11 Accountancy
Session 2017-2018

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General Instructions:

• This question paper contains Two parts A & B.
• Both the parts are compulsory for all.
• All parts of questions should be attempted at one place.
• Marks are given at the end of each question.

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Part – A (Financial Accounting – I)

1. Name any two external users directly concerned with accounting information. [1]

2. ‘Cash Memo’ is a source document or an Accounting Voucher? [1]

3. What is meant by the term ‘Merchandise’ in accounting? [1]

4. Vinod Bros. not following the Double Entry System while preparing books of accounts. They are preparing accounting on the basis of Single Entry System. Give any two limitations which they may face in future. [1]

5. Identify Personal, Real and Nominal account from the following: [3] (i) Rent Paid
(ii) Rent Received
(iii) Rent Accrued
(iv) Machinery
(v) Capital
(vi) Purchase

6. Rectify the following errors by passing entries: [3] (i) Rs. 4,800 received from Vinod wrongly entered as from Vikas.
(ii) The Purchase Book was under cast by Rs. 2,500.
(iii) Total of Sales return was under cast by Rs. 8,100

7. Describe any two objective of International Financial Reporting System. Also identify any two values disclosed by IFRS. [3]

8. Explain the following Assumptions/Principles of Accounting: [3] (i) Prudence Principle
(ii) Historical Cost Principle
(iii) Accrual Assumption

9. Give any two differences between Reserve and Provision. [4]

10. Fill in the blanks and complete the Journal Entries. [4]

Date	Particulars	L.F.	Debit	Credit
	________ A/c                    Dr. Vinod’s A/c                      Dr. To _________ A/c (Being goods sold to Vinod and 40% amount received by cheque)		? 15,000	?
	__________ A/c                 Dr. To ________ A/c (Being cheque received from Mohan for Rs.5,000 not deposited)		?	?
	____________A/c              Dr. To __________ A/c (Being goods taken for personal use costing Rs.3,500; sales price 4,000)		?	?
	_____________ A/c           Dr. To ____________A/c (Being sold personal car for Rs.1,00,000 and brought that money into business)		?	?

11. Vinod owed Rs.10,000 to Mohan. Mohan wrote a bill of exchange for Rs.10,000 on Vinod for three months, which was duly accepted by Vinod. Mohan discounted the bill with Bank at a discount of Rs.100. On maturity, Bill was dishonoured. Bank paid Rs.20 as noting charges. Pass journal entries in the books of Mohan. [4]

12. Prepare Cash Book with Bank Column of Vinod from the following transactions: [4]

Jan. 1 Cash in hand Rs.2,300 and Bank overdraft Rs.12,000

Jan. 7 Cheque received from Ram Rs.4,000.

Jan. 9 Deposited the above cheque into Bank.

Jan. 12 Goods sold for Rs.15,000 and deposited into the bank on the same day.

Jan. 18 Money withdrawn from bank for office use Rs.2,000.

Jan. 23 Money withdrawn from bank for personal use Rs.1,000.

Jan. 31 Bank charges Rs.200.

13. Vinod has the following transactions. Show accounting equation for the same: [4] (i) Commenced business with cash Rs.80,000.
(ii) Paid rent in advance Rs.1,000.
(iii) Purchased goods for cash Rs.30,000 and credit Rs.20,000.
(iv) Sold goods costing Rs.20,000 for Rs.30,000.
(v) Paid Salary Rs.800 and Salary outstanding Rs.200.

14. Prepare a Bank Reconciliation Statement of Mr. Divij Jain on 31 May 2017 from the following: [6] (i) Dr. Balance as per Pass Book Rs.50,000.
(ii) Cheque issued to Mr. Himesh Rohatgi for Rs.2,000 not entered in Cash Book.
(iii) Mr. Dhanraj (debtor) deposited an amount of Rs.1,000 directly into the bank account of Mr. Divij Jain.
(iv) Cheque received from Mr. Dhruv Guleria for Rs.6,000 entered in cash book but not sent to bank.
(v) There was a credit in the pass book for Rs.600 and another credit of Rs.200 for interest.
(vi) Bank charges Rs.500 entered twice in the cash book.

15. Vinod Ltd., purchased a Plant on 1st April, 2005 for Rs.15,000. It purchased another plant on 1st October, 2005 costing Rs.20,000 and on 1st July, 2006 costing Rs.30,000. On 1st January, 2007 the Plant purchased on 1st April, 2005 became useless and was sold for Rs.2,000. Show Plant Account charging 10% p.a. depreciation by fixed instalment method for four years. The plant purchased on 1st October, 2005 was sold for Rs.8,000 on 1st January, 2008. Accounts of the company are closed on 31st December each year.

OR

On January 01 2011, Vinod Transport Co. purchased five trucks for Rs. 20,000 each. Depreciation has been provided at the rate of 10% p.a. using straight line method and accumulated in provision for depreciation account. On January 01, 2012, one truck was sold for Rs. 15,000. On July 01, 2013, another truck (purchased for Rs. 20,000 on Jan 01, 2011) was sold for Rs. 18,000. A new truck costing Rs. 30,000 was purchased on October 01, 2013. You are required to prepare trucks account, Provision for depreciation account and Truck disposal account for the years ended on December 2011, 2012 and 2013 assuming that the firm closes its accounts in December every year. [8]

                                       Part – B (Financial Accounting – II)

16. How would you define ‘Provision for Doubtful Debts’? [1]

17. ‘Manual Accounting is not that effective, computerized accounting system is better’. How would you express this statement? [1]

18. (a) Identify any two values disclosed by Not-for Profit Organisations in India. [3] (b) Find out the amount to be shown in the Liabilities Side of Balance Sheet.

Tournament Fund ……………………Rs.6,00,000

Tournament Expenses………………. Rs.1,80,000

Receipts from Tournament…………. Rs.2,40,000.

19. Vinod Bros. prepare accounts by using Single Entry System. They have provided the following information at the end of the year. You are required to calculate the profit for Vinod Bros. [3]

Capital at the end of the year…………………….. Rs.10,00,000

Capital in the beginning of the year……………… Rs.15,00,000

Drawings made during the period ……………….Rs.7,50,000

Additional capital introduced……………………. Rs.1,00,000

20. Vinod maintains his account on Single Entry System. Calculate his profit on 31^st March, 2013 from the following information: [6]

Particulars	1 April 2012	31 March 2013
Cash in hand Bank Balance Furniture Stock Creditors Debtors	6,000 18,000 8,000 4,000 16,000 12,000	2,000 14,000 8,000 12,000 12,000 16,000

During the year his drawings were Rs.4,000 and additional capital invested Rs.8,000.

 

21.  Following is the extract from a Trial Balance: [6]

Particulars	Amount (Dr.)	Amount (Cr.)
Debtors Bad Debts	21,000 500	— —

Adjustments:
(i) Write off Rs.1,000 as further bad debts.
(ii) Create a provision for doubtful debts at 5% on Sundry Debtors.
Show the treatment of above items in final accounts.

22. Explain Readymade and Customized software with their advantages & limitations. [6]

23. Given below is the Receipts and payments Account of Vinod Sports Club for the year ended 31.12.2008. [6]

Receipts	Amount	Payments	Amount
Balance of Cash Balance of Bank Subscriptions Life Membership Fee Tournament Fund Locker Rent Sale of old sports material (costing 5,000) Sale of old newspapers Legacy Entrance Fee	400 3,600 11,000 8,000 15,000 2,000 3,000   2,000 10,000 5,000	Salaries Billiard Table Office Expenses Stationery Tournament Expenses Furniture purchased Sports equipment purchased Fixed Deposit on 1.1.2008 @ 12% p.a. Balance of Cash Balance of Bank	10,000 8,000 3,400 2,700 16,000 5,000 6,000 5,900 200 2,800
	60,000		60,000

Additional information:
(i) On 1.1.2008 subscriptions outstanding were Rs.800 and on 31 December 2008 Rs.900.
(ii) On 1.1.2008 the club had Building Rs.50,000; Furniture Rs.20,000 and Sports Equipment Rs.14,000. Charge depreciation @10% on these items (including purchases).
Prepare Income and Expenditure Account. [6]

24. Vinod Bros. providing you following information on 31^st March 2015. Show the treatment of  following items in related accounts without doing calculation of profit or loss: [8]

Particulars	Amount	Amount
Debtors Bad debts Provision for doubtful debts Prepaid salaries Outstanding rent Commission received	51,000 1,500 — 300 — —	— — 800 — 400 6,000

Additional Information:
(i) Further bad debts were Rs.1,000.
(ii) Bad debts recovered Rs.600.
(iii) Make provision for doubtful debts @ 5%.
Commission received includes 1/3 for the next year.

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Sample Paper for class 11 

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Marking Scheme for Class 11 exam

Subject	Board Marks	Practical or internal Marks
English	100 Marks	ZERO Marks
Hindi	100 Marks	ZERO Marks
Mathematics	100 Marks	ZERO Marks
Chemistry	70 Marks	30 Marks
Physics	70 Marks	30 Marks
Biology	70 Marks	30 Marks
Computer Science	70 Marks	30 Marks
Informatics Practices	70 Marks	30 Marks
Accountancy	80 Marks	20 Marks
Business Studies	80 Marks	30 Marks
Economics	80 Marks	20 Marks
History	80 Marks	20 Marks
Political Science	100 Marks	ZERO Marks
Geography	70 Marks	30 Marks
Sociology	80 Marks	20 Marks
Physical Education	70 Marks	30 Marks
Home Science	70 Marks	30 Marks

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