Kendriya Vidyalaya Sangathan

Agra Region
Sample paper For Session Ending Examination
2020 – 21
Class – XI
Subject – Accountancy (055)

Time : 3 Hours MM : 80 Marks

General Instructions:
• Read the questions carefully. 15 minutes would be allotted to read
this paper.
• Attempt all parts of a question together.
• All questions are compulsory.
• Show your workings clearly wherever necessary.
Q. Mark
1. A document given by the seller to the buyer for sale of goods or provision of 1
service on credit, is known as:

(a) Invoice (b) Debit note (c) Cash memo (d) All of these

2. Fill in the blanks: 1

Amount not recovered from trade receivables on account of insolvency is known

as-----------.
3. True / False : 1

Cash Discount is allowed to the customers for making prompt payment.

4. Inventory valued at: 1

(a) Cost price (b) Market price (c) Whichever is less (d) Whichever is more

5. Match the following: 1

1. It may or may not give true and fair view of the business a)Cash Basis
2. It is a Scientific method and gives true and fair view of the business b)Accrual
Basis
C ) Period basis
6. Fill in the blanks: 1

Rent paid Rs 85,000 out of which Rs 15,000 is related to next year. In the Cash
Basis of accounting Rs __________ amount will be debited in Rent A/c.
7. Ture / false: 1

Due to Materiality Concept the cost of small calculator is accounted as an

expense and not shown as on Assets in a financial statement.
8 Which principle does imply when the firm shows all the expenses related to its 1

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 revenues of a specified accounting period even if the expenses were not paid in
that financial year.

(a) Cost (b) matching (c) conservatism (d) Dual aspect

9. Name the document that also serves as an evidence of a transaction. 1
10. What will be the effect on accounting equation if Goods returned to supplier 1
being defective costing Rs 1000 and selling Price Rs 1100-

(a) Increase in creditor by 1000 and increase in stock by 1000

(b) Decrease in cash by 1100 and decrease in stock by 1000
(c) Increase in creditor by 1100 and increase in stock by 1100
(d) Decrease in stock by 1000 and decrease in creditor by 1000
11. When debit as well as credit aspects of a transaction are recorded in a cash book , 1
it is called _______

(a). Compound entry (b). Closing entry (c). Contra entry (d). Opening
entry
12. The word ‘C’ which stands for Contra, is written on both sides in _______ 1
column.

(a). Voucher number (b). Ledger folio (c). Bank (d). Particulars
13. 1
An error in which a Capital Expenditure is recorded as Revenue Expenditure is
known as:

14. 1
Write the name of price that an asset is expected to realize at the end of its
expected life.

15. Match the following: 1

(i)The person upon whom the bill of exchange is drawn a) Drawee

(ii)Person in whose favour the bill of exchange is transferred b) Payee
c) Endorsee
16. A bill was drawn on 23/10/2020 for three months. What will be its maturity date 1

(a) 24/1/2021 (b) 25/1/2021 (c). 26/1/2021 (d). 27/1/2021

17. Carriage of Rs. 8,000 paid on purchase of Second hand Machinery is treated as 1

(a). Revenue Expenditure (b). Capital Expenditure (c). Deferred Revenue

Expenditure (d). None of these
18. Fill in the blanks: 1

Trial balance shows total purchases Rs. 30,000, goods distributed as charity
costing Rs. 3,000 (sales price Rs. 4,500), goods given as samples costing Rs.
2,000 (sale price Rs. 2,200), goods given as gifts to employees costing Rs. 7,000

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 (sales price Rs. 8000)The amount of purchase to be shown in Trading account
will be Rs ............. .

19. Limitation of accounting from incomplete records: 1

(a). Unscientific system (b). Difficulty in preparing final account

(c). Preparation of trial balance is not possible (d). All of the above

20. Which one is not capability of computer system : 1

(a). Speed (b). Accuracy (c). Reliability (d). Hard work

21. Write any three interested users of Financial Statements of an organization along 3
with the reason of their interest in it.
OR
Compute cost of goods sold for the year 2017 with the help of the following
information. ` Sales 20, 00,000 Purchases 15, 00,000 Wages 1, 00,000 Stock
(Apr. 01, 2016) 3, 00,000 Stock (March 31, 2017) 4,00,000 Freight inwards
1,00,000
22. 3
(a) What are the advantages of Computerized Accounting? Explain any three.

Or

(b) Explain any three limitations related to computerized system in Accounting.

23. 4
Explain qualitative characteristics of Accounting Information.

24. Journalise the following ( GST is levied @ 12% ) 4

(a) Goods purchased for Rs. 5,000 were used by the proprietor for personal
use.

(b) Goods uninsured of Rs. 3,000 (purchase cost) were destroyed by fire.

(c) Goods worth Rs. 10,000 (purchase cost) damaged by fire and Insurance
Company accepted claim of Rs. 8,000 and cheque is received from the
Insurance Company.

(d) Goods costing Rs. 500 given as charity (sales price Rs. 600).

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 OR

Journalise the following in the books of Shiv Enterprises, Delhi:

(a) Purchased goods from Shyam& Co., delhi of list price Rs. 25,000 at
20% trade discount and 3% cash discount on value of goods. Paid
CGST and SGST @ 6% each. Payment was made immediately and
cash discount availed.

(b) Purchased goods from Sunder Agencies, Delhi of list price Rs. 20,000
at 25% trade discount and 2% cash discount. Paid CGST andSGST @
6% each. 50% of the payment was made immediately.

(c) Purchased goods from Rama & Sons, Delhi of list price Rs. 50,000 at
20% trade discount and 3% cash discount. Paid CGST SGST @ 6%
each. 75% of the payment was made immediately by cheque.

(d) Sold to Ramesh & Co., Chandigarh goods of list price Rs. 40,000 at
15% trade discount and 3% cash discount on value (cost) of goods.
Charged IGST @ 12% Ramesh & Co. paid the full amount by cheque
and availed cash discount.

25. 4
Prepare Double Column Cash Book with Cash and Bank Columns from the
following information:

2020 Rs.
Sept 1 Cash in hand 85,000
Bank Overdraft 45,000
Sept 2 Paid Wages 2,000
Sept 5 Cash Sales including cash Discount Rs. 500 70,000
Sept 10 Cash Deposited into Bank 40,000
Sept 15 Goods purchased for Rs. 20,000 and paid by Cheque including Cash
Discount Rs. 500
Sept 20 Paid Rent 5,000
Sept 25 Drew from bank for personal use 4,000
Sept 30 salary Paid 10,000

OR

From the following transactions of Kamal, Guwahati, prepare Purchase Book and
post them into Ledger:
2019

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 April 1 Purchased from Samsung India Ltd., Kolkata:
30 Color TVs @ Rs. 15,000 each, less trade discount @ 10% plus IGST
@ 12%, freight charges Rs. 2,000.

April 15 Purchased from LG India Ltd., Guwahati:

10 Color TVs @ Rs. 20,000 each less trade discount @ 10% plus CGST
and SGST @ 6% each.

April 20 Purchased from Music India Ltd., Delhi:

10 music systems @ Rs. 10,000 each less trade discount @ 15% plu
IGST @ 12%
April 30 Purchased from Samsung India Ltd., Kolkata:
5 Washing machines @ Rs. 15,000 each less trade discount @ 20% plus
IGST @ 12%, freight charges Rs. 1,000.

26. 4
Rectify the following errors in the books of Goyal Brothers:

(a) Goods bought from Ratan Rs. 1,100 is posted to his account as Rs. 1,600.

(b) Wages paid Rs. 1,000 for installation of Machine was debited to wages
account.

(c) Repairs Charges Rs. 2,000 to Machinery were debited to Machinery Account.

(d) Goods returned to Gopal Rs. 800 were entered in the sales book as 80.
27. 4
Compare the difference between Manual Accounting System and Computerized
Accounting System.
28. 6
Prepare the Bank Reconciliation Statement from the following information and
find the balance as per Cash Book:
Rs.
(a) Overdraft (Dr. Balance) as per Pass Book on 31st March, 2020 4,700

(b) Cheque issued but not presented 1,300

(c) Cheque of Rs. 800 banked and credited, omitted to be recorded in Cash Book

(d) Interest charged by bank on overdraft 200

(e) Bank Colomn of receipt side of Cash Book is overcast 100

(f) Bank issued draft to creditor as per instructions 2,400

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29. 6
On 1st January 2020, Sohan sold goods to Rohan for Rs.60000. Rohan accepts
three bills as first bill Rs.15000 for 1 month, second bill Rs.25000 for 2 months
and third bill Rs. 20,000. The first bill was retained, second bill was discounted
from bank on 3rd January 2020 from Bank for Rs.24900 and third bill was
endorsed to Gautam on 15th January 2020. First and third bill were met on
maturity but third bill was dishonoured and noting charges of Rs.200 being paid.
Pass the necessary Journal entries in the books of Sohan.

30. X, a retailer, has not maintained proper books of account but it has been possible 6
to obtain the following details:
1st April 2019 1st April 2020
Trade Creditors 6,270 5,890
Loan from Naresh 5,000 5,000
Stock 12,350 11,980
Cash in Hand 570 650
Shop Fitting 7,250 7,800
Trade Debtors 5,280 4,560
Bank balance 3,990 4,130
Calculate the net profit for this year and draft the Statement of Affairs at the end
of the year after noting that:
(a) Shop Fittings are to be depreciated by Rs. 780.
(b) X has drawn Rs. 100 per week for his own use.
(c) Included in the Trade Debtors is an irrecoverable balance of Rs. 270.
(d) Interest @ 5% p.a. is due on the loan from Naresh but has not been paid for
the year.

31. X Ltd. has the following balances on 1st April, 2020: (Rs.) 8
Machinery Account 3,00,000
Provision for Depreciation Account 1,35,000
Depreciation was charged @ 10% p.a. on straight line method and accounts were
closed on 31st March each year.
On 1st January, 2021, a part of machinery bought for Rs. 80,000 on 1st July, 2017
was sold for Rs. 37,000 and a new machinery was purchased for Rs. 1,00,000 on
the same date.
Prepare Machinery Account and Provision for Depreciation Account for the year
ending 31st March, 2021.
Or
On 1 April, 2014, Y Ltd. Purchased a machinery for ₹ 12,00,000. On 1st
st

October, 2016, a part of the machinery purchased on 1st April, 2014 for ₹ 80,000
was sold for ₹ 45,000 and a new machinery was purchased at a cost of ₹ 1,58,000
and installed on the same date. The Company has followed Written Down Value
Method of charging depreciation @ 10% p.a.
Show the Machinery Account from 1st April 2014 to 31st March 2016.

32. Following is the Trial Balance of Mr.Vasu as at 31st March, 2020: 8

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 Particulars Dr. Cr.
Cash in hand 1,080 ……
Cash at bank 5,260 ……
Purchases 91,350 ……
Returns Outwards …… 1,000
Sales …… 2,07,560
Returns Inward 1,360 ……
Wages 20,960 ……
Fuel and Power 9,460 ……
Carriage on Sales 6,400 ……
Carriage on Purchase 4,080 ……
Stock on 1st April, 2019 11,520 ……
Building 60,000 ……
Freehold land 20,000 ……
Machinery 40,000 ……
Salaries 30,000 ……
Patents 15,000 ……
General Expenses 6,000 ……
Insurance 1,200 ……
Capital ……. 1,42,000
Drawings 10,490 ……
Sundry Debtors 29,000 ……
Sundry Creditors ……. 12,600

Total 3,63,160 3,63,160

You are required to prepare Trading and profit & Loss Account for the year
ended 31st March, 2020 and the Balance Sheet as on that date, after considering
the following adjustments:

1. Stock at hand on 31st March, 2020 is Rs. 13,600.

2. Machinery is to be depreciated @ 10% and patents @ 20%.

3. Salaries for the month of March, 2020 amounted to Rs. 3,000 were unpaid.

4. Insurance included a premium of Rs. 170 for next year.

5. Wages include a sum of Rs. 4,000, spent on constructing a Cycle Shed for
employees and customers.

6. A Provision for Doubtful Debts is to be created to the extent of 5% on Sundry

Debtors.

Or

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From the following trial balance, prepare the trading and profit and loss account
for year ended 31st March 2021 and balance sheet as at that date.
Particulars Rs. (Dr.) Particulars Rs. (Cr.)
Salaries 20,446 Sales 1,32,840
Bills receivable 12,754 Capital 1,00,000
Investment 80,000 Provision for doubtful
Furniture 24,000 debt 5,000
Opening stock 9,000 10% loan(1st Oct. 2020) 20,000
Purchase 60,000 Discount received 800
Sundry debtor 40,000 Sundry creditor 18,600
Interest on loan 800 Bills payable 10,000
Insurance premium 1,800 Outstanding salaries 1,000
Wages 9,200 Bad debt recovered 400
Rent 3,040 Interest 4,000
Bad debt 2,400 Commission 14,000
Carriage outwards 1,200
Cash at bank 20,000
Depreciation on
furniture 5,000
Accrued commission 2,000
Advertisement 15,000
3,06,640 3,06,640
Additional information
a. Closing stock is Valued at Rs 20,000
b. Maintain a provision of 5% on debtor.
c. Insurance prepaid Rs 800
d. Goods loss by fire Rs 2,000.

*******************End of Paper****************

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