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(Periodic Test - I)
Session 2019 – 2020
Class: XI
Subject: Accountancy
Subject Code: 55
Time: 01 hours Max. Marks: 25

Q.1 Choose the best alternates and Fill in the blanks.. 6 Marks
(I`) which of the following is non -current liabilities:

(A) Long term loan (B) Creditors (C) Capital (D) All of the above

(II) Tangible Assets include :

(A) Inventory (B) Capital (C) Furniture (D) Goodwill
(III) Cash received form Kajal Rs 36000 after allowing her discount @10%. Amount debited to
discount account will be
(A) 3,600 (B) 4,000 (C) 4,400 (D) 40,000
(IV) Goods Rs 7,500 given away as donation would be credited to :
(A) Sales A/C (B) Charity A/C (c) Purchase A/C (D) Drawings A/C

(V) Cash taken by proprietor for personal use will be Debited to ………………………..A/C.
(VI) Amount which the proprietor has invested in business is known as ………………….

Q.2 State the types of Account with one example. 3 Marks

Q. 3 Explain any four terms-- 4 Marks

(1) Drawings (2) Capital (3) Debtors (4) Intangible Assets (5) Creditors (6) Internal users

Q. 4 Write any four characteristics of accounting with a short detail. 4 Marks

Q. 5 Journalise the following transactions 8 Marks
(1) April 1, Commenced business with cash 125000.
(2) 2 Purchased goods from Dinesh 20,000 in cash.
(3) 4 Sold goods to Ramesh 25,000.
(4) 9 Purchase goods from Govind for 20000 at 10% trade discount.
(5) 10 Received cash from Ramesh 24,500 and discount allowed 500.
(6) 15 Goods Purchase from Gopal Rs. 10,000.
(7) 18 Paid to Gopal in full settlement, after deducting 5% discount.
(8) 22 Electricity bills and Salary paid 21,000 & 15,000