HALF- YEARLY EXAM

Session 2020-21

CLASS XI

SUBJECT- ACCOUNTACY (055)

Time: 1.30 hour Marks: 40

General Instructions:
(i) All questions are compulsory.
(ii) Question number 1-10 are carrying 1 mark each.
(iii) Question number 11 and 12 carrying 3 marks each.
(iv) Question number 13 -15 carrying 4 marks each.
(v) Question number 15 and 16 is carrying 6 marks.
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1. What is the meaning of “recording in terms of money” ?
2. Mention two advantage of accounting.
3. Give two example of intangible assets.
4. …………………are those assets which have a physical existence and which can be seen or felt.
5. Cash discount is:
(a) Which is received at the time of making the payment?
(b) Which is allowed at the time of sale of goods?
(c) Which is received at the time of purchase of goods?
(d) Which is received both at the time of making payment and purchase of goods.
6. Which of the following is the capital expenditure:
(a) Wages paid for repair of building.
(b) Wages paid for the whitewash of building.
(c) Wages paid for construction of building.
(d) Wages paid for cleaning of building.
7. As per going concern concept business will continue to exist:
(a) For a limited period.
(b) For 10 years.
(c) For 25 years.
(d) For a long period in the future.
8. If the capital of a business is Rs.1, 00,000 and outside Liabilities are Rs.60,000 calculate total
Assets of the business.
9. Which equation is correct out of the following:
(a) Assets = Liabilities - capital
(b) Assets = Capital – Liabilities
(c) Assets = Capital + Liabilities
 (d) Assets = Net worth – Liabilities
10. What is IGST give an example?
11. Name the books of original entry where the following transaction will be recorded there off (3)
(a) Goods purchased from Ramlal Rs 5,000 on credit.
(b) Provision for doubtful debts created at the rate of 5% on debtors with book value of Rs 10,000.
(c) Defective goods sold to Babita on credit worth Rs 4,000 was returned by her.
(d) Purchase furniture on credit from Ratan Singh for Rs 15,000 for use in the business.
12. Enter the following transaction in the purchase book of Pawan electric store New Delhi
assuming CGST @ 6% and SGST @ 6%. (3)
 June, 2 Purchase goods from Surya electronics store Chandni Chowk Delhi on credit
(Invoice number 480)
40 tube lights @ 500 each
15 table fan @ 2000 each
Trade discount 20%
 June, 10 Bought goods from new light traders Connaught Place New Delhi on credit
(invoice number 23 10)
10 ceiling fan@ 3000Each
20 Electric irons @ 500 each
Trade discount 10%

OR

Give the rules of debit and credit of the three types of account.

13. Prepare the accounting equation on the basis of following (4)

(a) A started business with cash Rs 1,40,000 and stock Rs 2,50,000
(b) Sold goods costing Rs 50,000 at a profit of 25% on cost
(c) Deposited into Bank amount Rs 1, 80,000.
(d) Purchased goods from Mohan Rs 80,000.
14. Journalize the following transaction (4)
(a) Sold goods to Shruti for Rs 80,000 at 15% trade discount and 4% cash discount, Received
75% amount immediately through a check
(b) March 10 Purchase goods from Rajani for Rs 60,000 at Trade discount 10% and 5% cash
discount , 60% amount payable paid by cheque immediately.
15. Write short notes on following (4)
(a) Accrual concept
(b) Going concern concept
(c) Dual aspect concept
(d) Business entity concept

16. Journalize the followings (6)

17. March, 1 Purchase furniture for cash Rs 10,000.
 7 Sold goods to Hari Rs 30,000.
8 Cash received from Hari in full settlement 29,000.
9 Rent paid Rs 15,000 salary paid Rs 25,000.
10 Bought goods for cash of list price of Rs 80,000 at 10% trade discount and 2.5% cash
discount.
11 Sold goods for cash of the list price of Rs 1,00,000 at 15% trade discount and 3% cash
discount.
18. Prepared two column cash book from the following information (6)
1. Cash in hand Rs 2800,Cash at Bank Rs. 7000
2. Discount a bill of exchange at 1% through bank Rs 5,000
3. Cash sales Rs 6,000
4. Paid into the bank Rs 3,000
5. Rent paid Rs 700
6. Bank charges Rs 100.
7. Withdrawal from bank for personal use Rs 1500
8. Purchase goods on credit from Vijay Rs 4000.

GOOD LUCK