REVISION TEST CLASS 11 ACCOUNTANCY FINAL

DATE: 29.01.2021 TIME 3 HOURS

1 What is meant by book value of a fixed asset? 1

2 Who are the parties to a bill of exchange? 1
3 Give one example for compensating error. 1
4 What do you understand by the term casting? 1
5 What is the rule for expenses account? 1
6 Rent for the month of March 2017 is not paid. Under which accounting concept it 1
should be recorded as expenses for the year ended 31st March 2017?
7 On 1st April 2007, a limited company purchased a machine for ₹ 1,90,000 and 3
spent ₹ 10,000 on its installation. At the date of purchase, it was estimated that the
scrap value of the machine would ₹ 50,000 at the end of the sixth year. Find out
the amount of depreciation and % of depreciation under fixed instalment method
8 1. Give journal entries to the following transactions: 3
1) Provide depreciation on furniture ₹ 500 and on Machinery ₹ 2,000.
2) Interest on drawings ₹ 1,000.
3) Wages outstanding Rs.10,000
9 2. From the following information prepare a bank reconciliation statement as on 30th 3
May 2017 from the following particulars.
i) Bank balance as per cash book ₹ 17,600
ii) Cash and cheque totaling ₹ 36,000 were sent to bank during May but one
cheque of ₹11,800 was shown in the pass book of 2nd June.
iii) As per the instruction bankers have directly collected ₹4,100 from a
customer but it was not entered in the cash book.
iv) Three cheques for ₹10,000, ₹12,000 and ₹4,800 respectively were drawn
on 27 May but the cheque for ₹4,800 was encashed on 1st June.
th

v) On 31th May bankers had debited Rs.45 as bank charges but had intimated
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it on 3 June.
3. ₹16,200 were withdrawn from bank on 25 th May but there is no entry for it in the
cash book.
10 4. Ascertain the cost of goods sold and gross profit from the following information 3
given:
Opening stock 32,000 Purchases 2,80,000
Direct expenses 20,000 Indirect expenses 45,000
Closing stock 50,000 Sales 4,00,000
Sales return 8,000
11 5. Rectify the following errors: 4
a) Furniture purchased for ₹ 10,000 wrongly debited to purchases account.
b) Machinery sold on credit to Raman for ₹ 20,000 recorded through purchases
book.
c) A credit sale of ₹ 126 to Rajesh was entered in his account as ₹ 162.
6. d) Cash paid to Ram ₹ 400 was debited to the account of Shyam.
12 7. A firm purchased on 1st April,2015, a second hand machinery for Rs.36,000 and 6
spent Rs.4,000 on its installation. On 1st Oct in the same year another machinery
costing Rs.20,000 was purchased. On 1st October 2017, the machinery bought on
1st April, 2015 was sold off for Rs.12,000. Depreciation is provided annually on
31st March @ 10% p.a. on the written down value method. Show the machine
account from 1st April 2015 to 31st March, 2018.
13 8. Show the accounting equation on the basis of following transactions: 6

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 1) Started business with Cash ₹ 20,000, Goods ₹ 50,000 and Furniture ₹ 30,000.
2) Purchased goods from Gopal on credit ₹ 40,000.
3) Sold goods for cash ₹ 40,000(costing ₹ 30,000)
4) Sold goods to Ram on credit ₹ 65,000(costing ₹ 50,000)
5) Withdrew goods for personal use costing ₹ 5,000
6) Advance rent paid ₹ 10,000
7) Cash received from Ram ₹ 63,000 in full settlement of his account.
8) Depreciation provided for furniture @10% p.a.
9) Cash drawn for personal use ₹ 7,000.
10) Deposited into bank account ₹ 10,000.
13 Prepare the double column cash book from the following details: 6
Jan 1 Cash in Hand ₹ 16,000.Bank balance (Cr) ₹ 9,000
Jan 3 Deposited into bank 12,000
Jan 5 Received from Mohan 4,000
Discount allowed 100
Jan 7 Received a cheque from Hari and sent it to bank 6,000
Jan 9 Received a cheque from Prem Mohan 1,750
Discount allowed 250
Jan 12 Withdrew from bank for office use 3,000
Jan 13 Bought goods for cash 16,000
Jan14 Sold goods for cash 20,000
Jan 16 Paid to Ganesh by cheque 4,900
Discount received 600
Jan 18 Prem Mohan’s cheque deposited into the bank
Jan 20 Sold goods to Gopal for ₹15,000 for which he gave cash
₹ 8,000 and a cheque of ₹ 7,000
Jan 22 Deposited Gopal cheque into bank
Jan 24 Paid rent by cheque 15000
Jan 25 Bank notifies that Prem Mohan’s cheque was dishonoured
Jan 28 Received from Anil ₹ 2,700 in cash and ₹ 5,400 by
cheque. Cheque is deposited on the same date

14 X who keeps incomplete records gives you the following information: 6

Particulars st
1 Jan 31 Dec 2017(₹)
st

2017(₹)
Stock in hand 18,700 20,400
Debtors 12,000 14,000
Creditors 9,000 1,500
Bills receivable 4,000 5,000
Bills payable 10,000 12,000
Furniture 60,000 60,000
Building 1,20,000 1,20,000
Bank balance 43,500 13,350(overdraft)
The following adjustment were made:
a) A provision of ₹ 1,450 is required for bad and doubtful debts.
b) Depreciation @5% on building and furniture @10%
c) Drawings of Mr.X during the year ₹ 17,520.
d) Wages Outstanding ₹ 3,000, Salaries outstanding ₹ 1,200.
e) Insurance has been prepaid to the extent of ₹ 250.Legal expenses
outstanding ₹ 700.

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 f) Fresh capital introduced during the year ₹ 30,000.
Prepare a statement of profit as on 31st March 2017.
15 The following balances were extracted from the books of Mahesh as on 31.3.17. 8
Debit balances Amount(₹ Credit balances Amount(₹
) )
Stock (1.4.2016) 62,000 Sales 4,48,000
Purchases 3,15,000 Purchases returns 2,500
Sales returns 3,700 Sundry creditors 43,000
Sundry debtors 80,000 Bills payable 4,300
Bills receivable 12,100 Capital 2,00,000
Drawings 30,000 Discount 3,800
Cash in hand 24,800 Bad debts provision 3,000
Cash at bank 32,800 Commission 2,400
Discount 2,600 Salary outstanding 5,000
Carriage on purchases 7,500
Carriage on sales 1,200
Bad debts 2,400
Furniture 16,000
Rent 10,000
Salaries 25,000
Repairs 2,300
Insurance 3,600
Sales van 75,000
Sales van expenses 6,000
Total 7,12,000 Total 7,12,000
Taking into account the following adjustments prepare trading and profit and
loss account and balance sheet as at 31st March 2017.
1. Stock was valued at the end of the year ₹ 46,000.
2. Depreciate furniture at 15% and sales van at 20%.
3. A sum of ₹ 200 is due for repairs.
4. Write off ₹ 2,000 as further bad debts and create a provision for doubtful
debts @ 5% on debtors. Also provide 2% for discount on debtors.

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