VIVEKANANDA VIDYA MANDIR

Sec. II, Dhurwa, Ranchi-4

HALF YEARLY EXAMINATION (2021-22)
Class: XI F.M: 80
Sub: Accountancy Time: 3 Hrs.

General Instructions:
i. All questions are compulsory.
ii. Q .no – 1-40 1 marks
iii. Q .no - 41 2 marks
iv. Q .no – 42-43 3 marks
v. Q .no - 44-46 4 marks
vi. Q .no- 47-48 6 marks
vii. Q . no – 49 8 marks

1. Depreciation are

a. external transactions b. internal transactions

c. Can be (a) or (b) d. none of these

2. trial balance shows

a. only credit balance b. Only Debit balance

c. Both debit and credit balances d. Either debit or credit balance

3. Bank reconciliation statement is prepared by

a. Creditors b. Debtors c. Bank d. Account holder

4. If balance in the bank statement shows Rs 3000 (Dr) and there are deposits of Rs 800 not yet
credited and unpresented cheques totalling Rs 500 , the balance in the cash book should be

a. 3300 (credit) b. 2700 (debit) c. 4300( credit) d. 1700 (Debit)

5. On intra-state purchase of goods, which of the following accounts are debited ?

a. input IGST account

b. input CGST account and input SGST account
c. input IGST account and input CGST account
d. input IGST account and input SGST account

6. Total of these transactions is posted to purchase account

a. credit purchase of furniture b. purchase return

c. credit purchase of goods d. purchase of stationery

7. Opening entry is recorded

a. in the beginning of the accounting year b. at the end of the accounting year
c. in the middle of the accounting year d. anytime during the year

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8. Ravi had purchased goods for cash from Girish for Rs 10,000. It will be recorded in

a. cash book b. journal book

c. both cash book and journal book d. petty cash book

9. Deposit of cash in bank is recorded in

a. debit of Bank column and credit of cash column

b. debit of cash and credit of Bank column
c. debit of cash column and also credit of cash column
d. debit of Bank column and also credit of Bank column

10. Contra entries on the debit side of the cash book are posted to

a. Debit of bank account in the ledger b. Debit of the cash in the ledger
c. Credit of cash account in the ledger d. Not posted in the ledger

11. Ledger account is prepared from

a. Vouchers b. Trial balance c. Journal d. Financial statements

12. How many accounts are affected in a transaction ?

a. Only one b. Only two c. At least two d. Two or three

13. When goods are lost by fire then loss of goods by fire account is debited with

a. Cost of goods sold b. Cost of goods sold plus gross profit

c. Cost of goods sold less gross profit d. Cost of goods purchased

14. Withdrawal of cash from business by the proprietor is credited to

a. Drawings account b. Capital account

c. Cash account d. Bank account

15. Anil purchased Rs 1000 Add Gel Roller Pens @ 50 each less Trade discount of 20%. Purchases
Account will be debited by

a. Rs 50,000 b. Rs 40,000 c. Rs 45,000 d. Rs 60,000

16. Lalit, who owed Rs 20000 become insolvent. 70 paise in a Rupee was received from his
estate. Bad debts Account will be debited by

a. Rs 20,000 b. Rs 10,000 c. Rs 6,000 d. Rs 14,000

17. Voucher is prepared for

a. cash and credit purchases b. cash and credit sales

c. cash received and paid d. all of these

18. Books of account are written on the basis of

a. Source document b. Accounting vouchers
c. Both A and B d. None of these
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19. Credit note is prepared
a. When credit is given to the account b. When debit is given to the account
c. Both A and B d. None of the above

20. Sale of goods to Ram for cash is debited to

a. Ram b. Cash A/c c. Sales A/c d. None of these
21. Drawings account is a
a. Personal account b. Real account c. Nominal account d. None of these

22. Goodwill account is a

a. Personal account b. Real account c. Nominal account d. None of these

23. The liabilities of a firm are Rs 3000, the capital of the proprietor is Rs 7000. The total assets
are
a. Rs 7000 b. Rs 10000 c. Rs 4000 d. None of these

24. ‘X ‘ commenced business on 1st April, 2013 with a capital of Rs 600000. on 31st March,
2014 his assets were worth Rs 800000 and liabilities Rs 50000 . find out the closing capital

a. Rs 750000 b. Rs 200000 c. Rs 550000 d. None of these

25. Decrease in one liabilities may lead to

a. Decrease in another assets b. Increase in another liability
c. Either ( a )and (b ) d. None of these

26. payment to a creditors means

a. Increase in Assets and decrease in liability

b. decrease in Assets and decrease in liability
c. decrease in Assets and increase in liabilities
d. increase in Assets and increase in liability

27. Under accrual basis of accounting

a. Both cash and credit transactions are recorded

b. only cash transaction are recorded
c. only credit transaction are recorded
d. none of the above

28. according to going concern concept, a business is viewed as having

a. a limited life b. a very long life c. an indefinite life d. none of these

29. X Limited follows the written down value method of depreciation on machinery year after
year due to
a. comparability b. convenience c. consistency d. all of these

30. According to business entity concept

a. Transactions between the business and its owner not recorded

b. Transactions between the business and its owners are recorded considering them
to be one single entity
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 c. Transactions between the business and its owner recorded from the business
point of view
d. None of the above

31. Which of the following is not an expense

a. Furniture b. salary c. rent d. electricity expenses

32. The nature of accrued income is

a. Revenue b. liability c. Expenses d. assets

33. Which of the following term increases capital

a. drawings b. expenses c. loss d. profit

34. Bank overdraft is

a. short term liability b. long term liability
c. contingent liability d. none of these

35. A liability arises because of

a. cash transactions b. credit transactions

c. cash as well as credit transactions d. none of these

36. Amount paid or payable against purchase of goods is

a. revenue expenditure b. Capital expenditure

c. both a and b d. none of these

37. Which external user of accounting information is most interested in knowing the long term
solvency position of the firm ?

a. Employees b. Management
c. Bank and Financial Institutions d. Researchers

38. Cost of goods manufactured is determined by

a. financial accounting b. cost accounting

c. Management Accounting d. Human resource

39. Book Keeping is concerned with

a. recording financial data relating to business transactions

b. classifying and summarising recorded data
c. interpretation data for internal users
d. all of the above
40. Which of the following is not a sub-field of accounting

a. Book keeping b. Management Accounting

c. financial accounting d. cost accounting

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41. What is the process of accounting? 2
42. Distinguish between cash basis and accrual basis of accounting. Give the example of both 3
bases.

43. a. Explain capital expenditure in brief 3

b. Define accrued income.
c. What is the principle of conservatism or prudence concept.

44. Prepare accounting equation from the following: 4

a. Started business with cash Rs 100000.
b. Purchased goods for cash Rs 20000 and on credit Rs 30000.
c. Sold goods for cash costing Rs 10000 and on credit costing Rs 15000 both at a
profit of 20%.
d. Paid salary Rs 8000.

45. Pass journal entries for the following transactions: 4

a. Machinery purchased for Rs 50000 paying CGST and SGST @ 9% against cheque
payment.
b. Interest due but not received Rs 4000
c. Provide 10% depreciation on furniture costing Rs 5000
d. Received Rs 19000 from Bharat in settlement of his account for Rs 20000 .

46. Following transactions are of Pradeep & sons, Delhi for the month of March, 2021. Prepare 4
the sales book.
2021 Transactions
Sold to M/s Kamal Traders ( Mumbai), on credit.
45 Raymonds coat @ Rs 10000 each.
March 7 20 sweaters @ Rs 1500 each
Trade discount @ 15%
IGST @ 18%
Sold on credit to M/s Sanjay and Co. Delhi :
60 shirts @Rs 250 each
March 15
CGST @ 9%, SGST @ 9%
freight charges Rs. 800
Sold in cash to M/s Ajay brothers Lucknow
30 shirts @Rs 600 each.
March 19 40 sweaters @Rs 1000 each
Trade discount @ 15%
IGST @ 18%
Sold on credit to M/s Sons & brothers (Delhi)
150 shirts @ Rs 750 each
30 jackets @Rs 2500 each
March 23
Trade discount @ 20%
CGST @ 9%, SGST @9%
Freight charges Rs 2000
March 30 Sold old furniture to Sunil on credit Rs 800
CGST @ 9%, SGST @ 9%
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47. Prepare cash book with bank column of Bharati Lucknow from the following transactions: 6

2021 Rs.
Cash in hand 22000
April 1
Cash at Bank 60000
April 3 Deposited in bank 80000
April 4 Goods purchased against cheque 34000
April 7 Cash purchases 16000
April 8 Paid Commission by cheque 12000
April 9 withdrew from bank for personal use 2500
Received from Ved 6000
April 12
half of amount was deposited into bank on the same day.
April 16 Interest collected by bank 14000
April 20 Cash sales 42000
April 22 salaries paid 40000
April 22 Goods sold to Sana & company Kolkata.36000 36000
Received check dated 3rd May 2021, from Sana & company 35200
April 23
after discount of Rs 800

48. Prepare Bank reconciliation statement as on 30th June 2021 for Jyoti sales private limited from the 6
information given below:

(i) Bank overdraft as per cash book on 30th June 2021. Rs 110450.
(ii) Cheque issued on 20th June 2021 but not yet presented Rs 15000
(iii) Cheque deposited but not yet credited by the bank Rs 22750
(iv) Bills for collection not advised by the bank but credited to the account Rs 47200.
(v) Interest debit by the bank on 27th June, 2021 but no advice received Rs 12115.
(vi) Subsidy received from the authorities by the bank on our behalf, credited
to the account Rs 22000.
(vii) Amount wrongly debited by the bank Rs 2400
(viii) Amount wrongly created by the bank Rs 5000.

49. A plant was purchased on 1st October, 2018 at a cost of Rs 300000 and Rs 50000 were spent 8
on its installation. Depreciation is written off @ 15% per annum on the straight line method.
The plant was sold for Rs 150000 on 1st January, 2021 as it created pollution and on the same
date a new plant of latest technology was purchased and installed at a cost of Rs 400000. The
accounts are closed on 31st March every year.
Show the Machinery Account for 3 years .
Or
Reliance Ltd. Purchased a machinery on 1st August, 2015 or Rs. 60,000. On 1st October 2016, it
purchased another machine for Rs. 20,000.
On 30th June, 2017, it sold the first machine for Rs. 38,500 and on the same date purchased
new machinery for Rs. 50,000. Depreciation is provided @ 20% p.a. on cost each year.
Accounts are closed each year on 31st March.
Prepare Machinery Accounts for three years.

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