SUTLEJ PUBLIC SR SEC SCHOOL, RAHON ROAD LUDHIANA

ANNUAL EXAMINATION (SESSION 2021- 22)

CLASS XI COMMERCE
SUBJECT: ACCOUNTANCY
TIME: 2 hours MM 40
General Instructions:
1. Attempt all questions. All parts of a question should be attempted at one place.
2. Write down the question number clearly before attempting the question. There are 14
questions in total.
3. 25% of the marks allotted to the question would be deducted for not using correct format,
narrations and working notes.
4. Nothing should be written on the question paper.
5. There is no overall choice. However, there is an internal choice in questions carrying 8
marks.
Q No Marks
1 Which accounts are prepared under single entry system ? 1

2 It is responsible for performing the arithmetic computations such as addition, 1

subtraction and multiplication etc.
Identify the component of a computer involved here.

3 Outstanding telephone expenses appears in the Trial Balance of Rs. 5,000. How will 1
you treat it at the time of preparation of financial statements of sole proprietor ?

4 Ram purchased goods from Shyam for Rs 2,000 on 1st March, 2021, and accepted a 1
bill of exchange for 2 months drawn by him by Shyam on the same date for the
amount. Shyam got the bill discounted at his bank at 12% p.a. Calculate the amount of
discount in this case.

5 Pick the odd one out: 1

(a)Memory unit (b) Mother board. (c) RAM. (d) Key board

6 The manager of Tele Services is entitled for a commission of 6% of Net Profits before 1
his commission . The profit of the firm after his commission was Rs. 4,70,000.
Calculate the amount of profit before allowing commission of the manager.

7 If Depreciation is given in trial balance, how will it be treated in the Financial 1

Statements?

8 Which of the following not the advantage of the bills of exchange? 1

(a) The debtors need not be reminded for the payment of the debt
(b) The bills can be discounted by the maker before the expiry date
(c) The bills cannot be endorsed so the payment is fixed
(d) It is an unconditional payment so the purchase and sale can take place at ease..

9 Karan sells goods to Varun for Rs. 50,000 on 1st April, 2020 and draws two bills on 3
him for Rs 20,000 and Rs 30,000 payable after 3 months and 5 months respectively.
The first bill was retained till maturity and the second bill was discounted with the
bank on 4th May, 2020 @ 12% p.a. The first bill was honoured on the due date but the
second bill was dishonoured . Pass necessary journal entries in the books of Karan.

10 Calculate Gross Profit and Operating Profit from the extract of the Trial Balance of 3
M/s Beotra Shoes :
Page 1 of 3
 Books of Beotra Shoes
Trial Balance (extract)
As at 31.3.21
Dr. Balances Amount Cr. Balances Amount
(Rs.) (Rs.)
Opening Stock 50,000 Net Sales 11,50,000
Net Purchases 6,50,000 Gain on sale of Land 30,000
Direct Expenses 60,000 Commission Received 10,000
Office Expenses 45,000 Apprenticeship Premium 8,000
Selling expenses 65,000 Received
Loss on Sale of Asset 20,000
Stock at the end (31.3.2021) was Rs. 90,000.
11 On 1st April, 2020, X started a business with Rs. 40,000 as his capital. On 31st 4
March, 2021 , his position was as follows:
Particulars Amount( Rs.)
Creditors 30,000
Bills Payable 10,000
Bank 10,000
Debtors 50,000
Stock 40,000
Plant 68,000
Furniture 12,000
During the year 2020-21, X withdrew Rs. 6,000 per quarter. On 1st October, 2020 he
sold his personal investment worth Rs. 20,000 at a premium of 10%. Half amount has
invested in the business. You are required to ascertain profit or loss made by him
during the year 2020-21 after considering the following adjustments:
(i) Plant is to be depreciated by 10%
(ii) A provision of 5 % is to be made against Debtors.
12 Rectify the following errors: 6.
1) Furniture purchased for Rs. 5,000 was debited to Furniture Account.
2) Goods sold to Rishi for Rs. 10,000 was recorded in purchase book and debited
to Rishi.
3) Anil Refrigeration Co. purchased stationery for Rs. 10,000 on credit from
Richa and recorded it in Purchases book.
4) Sales book casted short by Rs. 20,000
5) Wages paid for construction of building Rs. 5,000 debited to wages account.
6) Goods sold to Mohan Rs. 2,000 were recorded as goods returned by Mohan.
13 (a)On 15 February 2018 Anand sold goods to Yash for 6000. On the same day Yash
accepted a bill drawn upon him by Anand for 3 months for 6000 . X discounted the 4
bill on 18th March 2017 at 15% per annum at his bank and yash met the bill on
maturity Pass the journal entries in the book of the drawer.

(b) “Computer is made up of various elements.” In the light of this statement state the 4
various elements of computer.
14 The following information has been taken from Trial Balance of M/s Balaji Bros. You 8
are required to prepare the Trading and Profit and Loss Account and a Balance Sheet
as at March 31, 2021:
Debit Balance Rs. Credit Balance Rs.
Cash 20,000 Sales 3,61,000
Wages 46,050 Loan 12% (1.7.2020) 40,000
Return Inwards 4,800 Discount 1,060
Page 2 of 3
 Bad Debts 4,620 Returns (Purchase) 390
Salaries 16,000 Creditors 60,610
Charity 250 Capital 75,000
Machinery 32,000
Debtors (including a 60,000
dishonoured bill of Rs.
1,600)
Stock 81,600
Purchases 2,60,590
Repairs 3,350
Interest on loan 1,200
Advertising 1,600
Insurance 2,000
Rent 4,000
5,38,060 5,38,060
Adjustments:
(a) Wages include Rs. 4,000 for erection of new machinery on April 1, 2020
(b) Provide 5 % depreciation on machinery
(c) Salaries unpaid Rs. 1,600.
(d) Closing stock Rs. 81,500
(e) Create a provision @ 5% on debtors.
(f) Half the amount of dishonoured bill is irrecoverable.
(g) Rent is paid upto July 30, 2021.
OR
The following Trial Balance was extracted from the books of Mr. Gaur Narang as at
31st March, 2021
Particulars Amount Particulars Amount
(Rs.) (Rs.)
Capital 2,45,000 Loan 78,800
Drawing 20,000 Sales 6,53,600
General expenses 47,400 Purchases 4,70,000
Building 1,10,000 Motor car 20,000
Machinery 93,400 Provision for doubtful debt 9,000
Stock on 1st April,2020 1,62,000 Commission (Cr.) 13,200
Insurance 13,150 Car Expenses 18,000
Wages 72,000 Bill Payable 38,500
Debtors 62,800 Cash 800
Creditors 25,000 Bank overdraft 33,000
Bad debts 5,500 Charity 1,050
Prepare Trading And Profit And Loss Account for the year ended and Balance Sheet
as at that date after giving effect to the following adjustments:
a) Stock as on 31st March,2021 was valued at Rs.2,30,000
b) Write off further Rs. 1,800 as Bad Debts and maintain a provision for doubtful
debts at 5%.
c) Depreciate Machinery at 10%.
d) Provide Rs. 7,000 as outstanding interest on loan.

Page 3 of 3