TEST NO-01 CBSE CLASS-11TH DATE-03/06/2018 NAME…………………………………………………….

Q.1 DEFINE THE FOLLOWING:- (2 marks each)

a. CAPITAL b. DRAWING c. GOODS d. LIABILITIES

Q.2 Choose RIGHT/WRONG (1 marks each)

a) A person who owes money against sale of goods to a firm is known as debtor.

b) when good are donated then cash account is credited.

c) withdrawl of cash for personal use from business is credited to cash account.

d)Trade discount received on purchase is recorded in books by adding it to purchase amount.

e)On intra state purchase of goods INPUT IGST A/C is debited for GST on purchase.

Q.3 a) What is double entry system of accounting? Define the three types of accounts under it and also
provide 3 examples of each of them. ( 5 marks)

b) What is modern approach of accounting? Explain the rule of all 5 categories of accounts and their
rule of debit and credit. (5 marks)

Q.4 When an asset is purchased in cash or an expense is incurred in cash, cash is credited.Why? (1 mark)

Q.5 A liability is met by issuing a cheque. Which account will you credit and why? (1 mark)

Q.6 Name the side on which increase in capital is recorded? (1 mark)

Q.7 When is capital account debited? (1 mark)

Q.8 If there is a purchase of asset, which account is to be debited? (1 mark)

Q.9 classify the following into asset, liabilities, capital, revenue & expense: (4 marks)

plant & machinery , Bank loan , sales, rent, discount received, discount allowed, carriage inward,
carriage outward, purchase, bill payable, wages, salary, capital, accrued income, furniture, outstanding
expenses, bad debts, creditors, debtors, bank overdraft, cash in hand

Q.10 provide full form of following:- (1 mark)

L/F, J/F

Q.11 Explain cash discount and trade discount and rebate also provide 3 differences between cash
discount and trade discount. (4 marks)

Q.12 Define following accounting principles:- a)accrual concept b)going concern concept c)accounting
period concept (12 marks.
Q.13 Prepare Journal and ledger of the Ram & co. (DELHI) who started business from 1/4/18 with cash-
40000, goods-35000 and machinery-30000:- (12 marks)

Date Particular amount

1/4/18 Purchased goods for cash (GST-12%) 10000
8/4/18 Opened a bank account with cash 5000
14/4/18 Sold goods for cash (GST-12%) 7000
22/4/18 Bought goods from ramesh & co delhi (GST12%) 15000
30/4/18 Sold goods to Kamlesh delhi (GST 12%) 10000
5/5/18 Cash deposited into bank 3000
31/5/18 Withdrawal from bank for personal use 2000
14/6/18 Withdrawal from bank for business purpose 3400
30/6/18 Kamlesh returned goods (GST 12%) 3000
17/7/18 Kamlesh paid the outstanding amount in full
31/7/18 Goods returned to ramesh (GST 12%) 5000
15/8/18 Ramesh & Co. outstanding was paid in cash on which cash discount received
10%
15/9/18 Wages paid from bank 250
30/9/18 Goods purchased from manisha & co. lucknow (GST 12%) trade discount-10% 10000
18/10/18 Cheque issued to manisha & co 5000
29/10/18 Goods lost by fire (GST 12%) 1000
15/11/18 Goods withdrawal for personal use (GST 12%) 1000
1/12/18 Rebate received from manisha & co. lucknow for low quality of goods (GST 1000
12% )
30/12/18 Goods sold to ankita &co, KOLKATA (GST 12%) TRADE DISCOUNT-10% & 10000
CASH DISCOUNT Rs.1080
5/1/19 Machinery purchased (GST 12%) 1000
28/2/18 Machinery sold (GST 12%) 800
31/3/19 GST ADJUSTED - PAID IF EXCESS OR ELSE REFUNDED