Accountancy

CLASS XI
Second Terminal Exam (Dec 2015)
Note: All questions are compulsory
Time Allowed: 3 hours
Max Marks 90
1

Goods returned of Rs. 500/- by Anil will be entered in:

(a) Purchases Book

(b) Purchases Returns A/c

(c) Sales Book
2

4
5
6
7
8
9

10

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(d) Sales Returns Book

A bill of exchange is drawn by a:
a) Debtor
b) Creditor
c) Holder
A bank reconciliation statement is prepared by
a) A bank
b) Customer
c) Creditor
d) Debtor
Business units last indefinitely. Mention the concept on which this statement is based.
Write any two features of vouchers.
Mention any two causes of depreciation.
Calculate Gross Profit and Cost of Good Sold from the following information :
Net Sales Rs. 1,00,000 and Gross Profit is 25% on cost.
Distinguish between cash book and cash account on the basis of any one point of
difference.
Pass journal entry for:
Supplied goods costing Rs 5000 to Mr Z. Issued invoice at 10% above cost price less 2%
trade discount.
Calculate Deprecation on the diminishing balance method on a machinery of Rs2000 @
10% p.a after 3 years.
Name any 2 objects of creating Reserves.
Ascertain the Cost of goods sold from the following
i.
Opening stock
Rs 10,000
ii.
Purchases
Rs 30,000
iii.
Direct Expenses
Rs 3,000
iv.
Closing stock
Rs 15,000

1
1
1
1
1
1

2
2

13

From the following Trial Balance (containing obvious errors) prepare a correct
trial
Name of the account

Dr. (Rs.)

Cr. (Rs.)

6,000
2,000
-

10,000

100

200

Opening stock

3,000

Closing stock

4,000

200
500

2,000
-

5,000

Debtors

8,000

Creditors

3,000

Capital

9,400

Suspense a/c being the

difference

1,000

Purchases
Reserve fund
Sales
Purchase returns
Sales returns

Expenses
Outstanding expenses
Bank balance
Asset
s

14

15
16

17

27,200
27,200
Prepare Trading Account of Raman Kumar from the following balances for the year ended
31st march 2014
Opening stock
Rs 8,000
Purchases
Rs 13,000
Sales
Rs 32,000
Purchases return
Rs 400
Sales return
Rs 1,300
Wages
Rs 2,200
Carriage inward
Rs 300
Closing stock
Rs 5,000
Explain the different types of reserves.
Point out suitable example for each of the following.
i.
Increase in assets results in increase in liability.
ii.
Increase and decrease in capital
iii.
Increase in assets results in decrease in another assets.
iv.
Decrease in assets result in decrease in liability.
Prepare Bank Reconciliation Statement as on 31 July 2011
i.
ii.
iii.

Balance as per Cash Book is Rs. 25,000 as on 31 July 2011.

Cheques for Rs. 15,000 were deposited into the Bank in the month of July but only
cheques for Rs. 11,000 were credited by the bank till 31 July 2011.
Cheques issued for Rs. 13,000 in July, out of which a cheque for Rs. 3,800 was

3
4

presented for payment on 3 August.

Bank charged Rs. 50 as Bank charges and credited interest of Rs. 370.
A customer directly deposited Rs. 1,550 in firms bank A/c.
Bank paid the Insurance Premium of Rs. 1,200 as per standing instructions on
25.07.2011.
Show accounting equation for the following transactions:i.
Started business with cash Rs 50,000 and goods Rs 30,000.
ii.
Purchases goods for cash Rs 30,000 & on credit from Karan Rs 20,000.
iii.
Goods costing Rs 40,000 sold at a profit of Rs 15,000.
iv.
Withdraw cash for personal use Rs 10,000.
Rent outstanding Rs 20,000.
Record following journal entries in journal proper:i.
Provide depreciation on Machinery @ 10% p.a.(cost of machinery Rs 25,00,000)
ii.
Salaries to office staff Rs 55,000 p.m. for two months is still unpaid.
iii.
Goods worth Rs 1,00,000 destroyed by fire. Goods were not insured.
iv.
Insurance premium paid in advance Rs 36000
v.
Provide interest on capital @ 12% p.a. on capital of Rs 20,00,000.
On 1st April, 2011 Anil accepts a bill drawn by Sunil for 2 months for Rs. 15000, in payment of a debt. On the date
of maturity bill was dishonoured and Sunil had to pay Rs. 150 as noting charges. On 4th June 2011, Anil requested
to Sunil to draw a new bill for the amount due. Sunil agreed to draw a new bill for 73 days but he charged interest
@ 15% per annum in cash. This bill is duly met on its maturity.
iv.
v.
vi.

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19

20

Pass Journal entries in the books of both the parties.

21

Explain the following with examples:

i.
Dual aspect concept
ii.
Matching concept
iii.
Money measurement Concept

22

Enter the following transactions in the Sales book of M/s Salim & Co. Hyderabad

May 4

May 14

May 17

23

Sold to Gupta Bros. New Delhi

10 dozen Pencils @ Rs. 20 per dozen
14 gross Rubbers Rs. 5 per dozen
Sold to M/s Fazal Mirza & Co. Mumbai
5 Dozen Gum Bottle @ Rs. 5 per bottle
70 dozens Rulers @ Rs. 15 per dozen
Less : 10% Trade Discount
Sold old Newspapers for Rs. 200

May 21

Sold to M/s Rajendra & Co. Ghaziabad

10 reams of Papers @ Rs. 60 per ream
Less : Trade Discount @ 10%

May 25

Sold to M/s Dhyanchand & Co. Delhi for cash

10 dozen pens @ Rs. 120 per dozen for cash

May 27

Sold to Cheap Stores, New Delhi

10 dozens Pencils @ Rs. 18 per dozen
Less: Trade Discount @ 10%.

May 31

Sold old furniture to M/s Kashyapel Co. on credit for Rs. 1700

Rohan Ltd. purchased a Machinery on 1st May, 2009 for Rs. 60,000. On 1st July, 2010 it
purchased another Machine for Rs. 20,000. On 31st March, 2011 it sold off the first machine

purchased in 2009 for Rs. 39,000. Depreciation is provided at 20% on the original cost each
year. Accounts are closed each year on 31st December. Show the Machinery account from
2009 to 2011.
24

Enter the following transactions in the cash book with cash and bank column of Rao & Sons.
June 2014
1
3
6
8
10
12
13
15
17
19
23
25
26
29

10

Particulars
Started Business with cash Rs. 1,00,000
Opened a bank current account with SBI Rs. 60,000
Bought goods from Ashok Rs. 15,000
Paid Ashok by cheque Rs. 14,700 and received discount Rs. 300
Sold goods to Mohan for cash Rs. 10,000 and on credit Rs. 22,000.
Received cheque from Mohan 21,400 and allowed discount Rs. 600.
Cheque of Mohan deposited into bank
Paid electricity charges Rs. 1100 and rent Rs. 2,000.
Received a cheque from Total for Rs. 6,800 in full settlement of his account Rs. 7,000
Endorsed the cheque of Gopal in favour of our creditor Amar
Withdrew cash from bank for office use Rs. 5,000 and for personal use 3,500
Bought a machine from Raman. He was paid by cheque 9,000.
Paid Carriage of machine Rs. 300 and installation charges Rs. 700
Bank allowed interest Rs. 800 and bank charges were Rs. 200

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10
.From

the following prepare final accounts in the books of MMN, for the year

ended 31st December,2005 and a balance sheet as on that date:

Particulars
Dr. amount
Capital
Drawings
6480
Land and building
25000
Plant and machinery
14270
Furniture
1250
Carriage inward
4370
Wages
21470
Salaries
4670
Provision for bad
debts
Sales
Sales returns
1760
Bank charges
140
Coal, gas and water
720
Rates and taxes
840
Discount
Purchase
42160
Purchase returns
Bills receivable
1270
Trade expenses
1990
Debtors
37800
Creditors
Stock
26420
Apprentice premium
Fire insurance
490
Cash at bank
13000
Cash in hand
850

Cr. Amount
90000

2470
91230

120