KENDRIYA VIDYALAYA GOMOH

MODEL PAPER
SUBJECT-ACCOUNTANCY (055)
CLASS-XI
TIME:3:00 HOURS MAX.MARKS:80

General Instructions:
(i) This question paper contains two parts A and B.
(ii) Both Parts are compulsory.
(iii) All parts of a question should be attempted at one place.
(iv) Show your workings clearly wherever necessary.

Q. PART-A FINANCIAL ACCOUNTING-1 Marks

1. Which of the following errors is revealed by the Trial Balance: 1
(a) Wrong amount entered into the book of Original entry
(b) Wrong amount posted in the ledger account
(c) Complete omission of an entry from the books of original entry
(d) When accounting principle is violated while recording a
transaction in the books of Account.
2. Amortization refers to writing off………………………………… 1
(a) Depleting Assets
(b) Wasting Assets
(c) Intangible Assets
(d) Fictitious Assets
3. Out of the following Assets which one is not an Intangible Assets: 1
(a) Patents
(b) Investment
(c) Goodwill
(d) Trademark
4. If the Rent of One month is still to be paid the adjustment entry will be : 1
(a) Debit outstanding rent a/c and Credit Rent a/c
(b) Debit Profit & Loss a/c and Credit rent a/c
(c) Debit Rent a/c and Credit Profit & Loss a/c
(d) Debit Rent a/c and Credit Outstanding rent a/c.
5. Fill in the blanks with suitable word(s): 1
The person to whom the amount mentioned in the promissory note is
payable is known as ………………….
6. How many days of Grace are added to the period of Bills of Exchange ? 1
7. What is Secret Reserve? 1
8. Which Qualitative characteristic of accounting information requires the use 1
of common unit and common format of reporting?
9. What is meant by Accounting Standards? 1
10. X Limited gets a contract of 100 crores to build a shopping Mall to be 1
completed in 3 years. The management of the company wants to ascertain
profit or loss on this contract when the contract is completed. Is the
management justified.
11. Give an example of Livestock. 1
12. Give the full form of IGST. 1
13. Imprest amount ₹5000. What will be the amount of reimbursement if 1
following expenses were incurred by the petty cashier during the month –
Wages =₹1450,
Tiffin=₹1050, Small Repairs =₹500, General expenses=₹400.
(a) ₹1600 (c) ₹ 3400
(b) ₹3050 (d) ₹ 3000
14. Ractify the following errors: 3
(a) Repairs to Building were debited to Building A/C Rs.12000.
(b) Purchase of Goods from Vinod amounting to Rs.30000 has been
wrongly entered in Sales Book.
(c) Depreciation provided on Machinery Rs.4000 was posted as
Rs.40000.
OR
Explain the following types of errors:
(a) Errors of Omission
(b) Errors of Commission
(c) Errors of Principle
15. Pass Journal Entries in the books of Shri Zahid of Rajasthan assuming 4
CGST@9% and SGST @9% for the following transactions:
(a) Purchased goods for Rs.3,00,000from Jitender of Gujrat.
(b) Sold goods costing Rs.80,000 to Mr. Babudin of Rajasthan at a profit
of 25% on cost less trade discount 10%.
(c) Paid for advertisement Rs.50,000.
(d) Proprietor withdrew for personal use Rs.10,000.
OR
Show the effect of the following transactions on assets ,liabilities and
capital through Accounting Equation:
(1) Amit started business with cash Rs. 40000 and bank balance
Rs.10,000.
(2) Purchased goods for cash Rs.15000 and on credit Rs.5000.
(3) Sold goods costing Rs.8000 for Cash at a profit of 10% on cost.
(4) Rent due ,but not paid Rs.500.
16. Prepare Two Column Cash Book with Cash and Bank Column from the 4
following information: Rs.
2018 Cash in hand 2800
June 1 cash at bank 7000
5 Discounted a bill of exchange at 1% through bank 5000
10 cash sale 6000
15 Paid into the bank 3000
18 Paid rent 700
20 Bank charges 100
25 Withdrawn from bank for personal use 1500
30 Purchased goods on credit from Vishesh 4000
17. Differentiate between Cash Basis of Accounting and Accrual Basis of 4
Accounting.(any four points)
18. Explain qualitative characteristics of Accounting Information. 4
19. Prepare Bank Reconciliation Statement on the basis of following information: 6
(i)On 31st March 2019 Bank Passbook of Gopal showed a balance of
Rs.15000 to his credit.
(ii) Before the date, he had issued cheques amounting to Rs.8000, of
which cheques amounting to Rs.3200 have so far been presented for
payment.
(iii) A cheque of Rs.2200 paid by him into the bank on 26th March is not
yet credited in the Pass Book.
(iv)He had also received a cheque for Rs.500 which although entered by
him in the bank column of Cash Book, was omitted to be paid into the
bank.
(v)On 30th March a cheque of Rs1570 received by him was paid into the
bank but the same was omitted to be entered in the Cash Book.
(vi)There was a credit of Rs.150 for interest on current account and a
debit of Rs.25 for Bank Charges.
OR
Prepare a Bank Reconciliation Statement as on 31st March 2019 from
the following transactions:
a. Bank Overdraft as per Pass Book Rs.22000.
b. On 28th March, Cheques had been issued for Rs.50000 of which
cheques worth Rs.6000 only had been encashed upto 31st March.
c. Cheques amounted to Rs.4500 had been paid into Bank for
collection but out of these only Rs.1000 had been credited in the
Pass Book.
d. The bank had charged Rs.1500 as interest on overdraft and the
intimation of which has not been received as yet.
e. Bank has collected Rs.1600 directly in respect of interest on
Investment.
f. A cheque of Rs.1200 has been debited in the bank column of Cash
Book, but it was not sent to bank at all.
20. S Ltd. Purchased a Plant for Rs.6,00,000 on July 1st2017 and spent Rs.2,00,000 6
on its installation. Another Plant was purchased on 1st April 2018 for
Rs.3,00,000. On Oct.1st 2018,1/4th part of the Plant purchased on July 1 2017
became obsolete and sold at a loss of Rs.5,000 and a new plant was purchased
with the realised value of obsolete plant by adding Rs.29,250.
Depreciation is chargeable @10% P.A. under Diminishing Balance Method on
Dec.31 of every year.
Prepare the Plant a/c for two years clearly showing the workings.
21. On 1st January 2018, Sohan sold goods to Rohan for Rs.60000. Rohan accepts 8
two bills of Rs.25000 for 2 months, and Rs.35000 for 3 months.
The first bill discounted from bank on 3rd January 2018 from Bank for
Rs.24900 and second bill endorsed to Gautam on 15th January 2018.
First bill met on maturity but second bill get dishonoured and noting charges
of Rs.200 being paid. Sohan charged Rs. 300 as interest and drew another bill
for the bill amount for further 2 months. This bill was met on maturity.Pass
the necessary Journal Enteries in the books of Sohan.
OR
Fill up the missing information in the following Journal Enteries:
 Journal of A (in Rs.)
Date Particulars L.F. Dr Cr
2019 ------ Dr --------
Jan.1 To ------- --------
(Goods sold to B)
Jan 1 ---- Dr ----------
To -------
(Acceptance received from B for
3 months)
Feb4 --------- Dr
--------- Dr
To ------ --------------- 40,000
(B/R discounted from @18% -
p.a.)
------ Dr ----------
To -------- --------
(Bill dishonoured and noting
Apr4 charges paid by bank Rs.200)
B Dr -----------
To ------
--------
Apr4 ( )
B/R a/c Dr 40,950
To-------
(New acceptance received from 40,950
B including interest for 2
months)

Journal of B
Date Particulars L.F. Dr. Cr.
2019 ----- Dr
To --------
(Goods purchased from A)
---- Dr
To ------
(acceptance given to A for 3
months)
----- Dr
------ Dr
To ------
(Bill dishonoured and Noting
Charges payable Rs.200)
---- Dr
To -----
(Interest payable)
-----
---- Dr
To ------
(New acceptance given for
2months)
 PART-B FINANCIAL ACCOUNTING – II
22. Net Sales Rs.6,00,000. 1
Gross Profit 25% on cost .
Calculate cost of Goods sold.
23. Give two features of Incomplete Records. 1
24. Which one component of Computer System is not Hardware? 1
(a) Keyboard (c) C.P.U.
(b) Monitor (d) Tally
25. Fill in the blanks with suitable word(s): 1
Generally accounts under Single Entry System are maintained by------------.
26. Income Tax paid by an a sole trader is reflected in his financial statements: 1
(a) On the debit side of the Trading a/c
(b) On the debit side of Profit and Loss a/c
(c) As an asset in the Balance Sheet
(d) As way of deduction from Capital in the Balance sheet.
27. If Closing Stock appears in the Trial Balance then it will be appearing in: 1
(a) Trading a/c
(b) Balance Sheet
(c) Profit and Loss a/c
(d) Trading a/c and Balance Sheet.
28. What is meant by ‘Data Base Management’? 1
29. Differentiate between Balance Sheet and statement of Affairs. (Any three points) 3
30. Seeta , a STD booth owner keeps her accounts on single entry system. She wants 2+1+1
to know the results of her business on 31st March 2019 and for that following is =4
available:
01-04-2018 (in Rs.) 01-04-2019 (in Rs.)
Cash in hand 300 350
Bank Balance 1,500 1,600
Furniture 2,000 2,000
Stock 1,500 2,500
Creditors 700 800
Debtors 5,000 6,500
During the year, she had withdrawn Rs.1,500 for her personal use and invested
Rs.2,500 as additional Capital. Calculate her profits on 31st March 2019 and
prepare the Statement of Affairs as on date.
OR
Mukesh maintains his books of accounts from incomplete records. His books
provide the following information: (in Rs.)
Particulars 01-04-2017 31-03-2018
Cash 1,200 1,600
B/R 2,400
Debtors 16,800 27,200
Stock 22,400 24,400
Investment 8,000
Furniture 7,500 8,000
Creditors 14,000 15,200

He withdrew Rs.300 per month for personal expenses. He sold his wife’s
ornaments of Rs.16,000 at 2% profit and introduced that amount into business.
Prepare a statement of Profit and Loss for the year ending 31st March 2018.
31. Distinguish any three points between Manual Accounting and Computerised 6
Accounting.
32. The following is the Trial Balance of Sh. Luxmi Narayan as at 31-03-2017. Prepare 8
Trading a/c and Profit a/c and Balance Sheet for the same.
Dr Balances Rs Cr Balances Rs
Materials Purchased 1,15,725 Sales 2,10,000
Administration Expenses 16,725 O/s Wages 800
Wages 42,775 Creditors 39,535
Freight 5,100 Capital 81,800
Rent 3,100 Bank Loan on
Petty Cash 175 Mortgage 12,220
Debtors 36,400 Income from 16,000
Gift to wife 2,500 Investment 925
Prize Distributed 200
Commission paid 1,000
Commission Paid in advance 400
Mortgage interest 1,600
Loose Tools 5,000
Investments 8,500
Plant 60,000
Furniture 7,200
Leasehold Property 50,000
Patents 2,000
Depreciation on Furniture 800
Suspense Account 2,080
3,61,280 3,61,280
Adjustments:
1.Closing Stock amounted to Rs.20,000.
2.Goods costing Rs.5,000 were sent to a customer on sale on approval Basis for
Rs.6,400 on 29th March 2012 and had been recorded in the books as actual basis.
3.Make a provision for doubtful debts at 5% on Debtors.
4.1/5th of Loose Tools are to be written off this year.
5. General Manager is to be allowed a commission of 5% on Net Profit before
charging his commission.

OR

From the Trial Balance of M/s Sushma & sons as on 31.03.2018. Prepare Trading
a/c, Profit and Loss a/c and Balance Sheet.
Particulars Rs. Particulars Rs.
Cash at bank 6,000 Capital 50,000
Cash in hand 900 Sales 1,77,000
Advertisement 2,000 Creditors 25,000
Rent, Rates &Taxes 10,000 Rent received 525
Carriage on sales 1,200 Purchase Return 750
Carriage on Purchases 750
Manufacturing wages 10,000
Salaries 6,000
 Sundry Debtors 45,000
Bank Charges 75
Discount 350
Opening Stock 30,000
Sales Returns 1,000
Purchases 60,000
Plant & Machinery 60,000
Loan to Ram 20,000
Total 2,53,275 2,53,275
Adjustments:
a. Closing Stock Rs.35,000.
b. Charge 20% of the Advertisement this year.
c. Charge interest on Loan to Ram @9% p.a.
d. Create 5% provision for bad and doubtful debts.

******************************************
 KENDRIYA VIDYALAYA GOMOH
MARKING SCHEME
MODEL PAPER
CLASS -11 ACCOUNTANCY
Q. No. Answer Marks
1 (b) 1
2 (c) 1
3 (b) 1
4 (d) 1
5 Payee 1
6 Days of Grace are 03 extra days are added to the period of Bill. 1
7 It is a reserve the existence or the amount of which is not disclosed in 1
the balance sheet. It is also Known as hidden reserve.
8 Comparability 1
9 Correct explanation 1
10 No, the management is not justified. Although the true Profit and Loss 1
can be ascertained only after completion of contract, it will be divided
into time intervals of 12 months for the ascertainment of profit as per
Accounting Period Concept.
11 Domestic animals such as cattle or horses are known as Livestock. 1
12 Integrated Goods & Service Tax 1
13 (c) ₹3400 1
14 Rectification entries 3

Date Particulars L.F. Dr. ( Cr. (

₹) ₹)
(a) Repairs a/c Dr 12000
To Building a/c 12000
(Correction of wrong debit to
Building a/c)
(b) Purchases a/c Dr 30000
Sales a/c Dr 30000
To Vinod 60000
(Correction of wrong entry in Sales
Book)
(c) Machinery a/c Dr 36000
To Depreciation a/c 36000
(Correction of wrong amount
posting)
 OR
Types of Accounting errors include:
1.Errors of Omission – a transaction that is not recorded.
2.Errors of Commission – a transaction that is calculated incorrectly.
One example of an error of Commission is subtracting a figure that
should have been added.
3.Errors of Principle – a transaction that is not in accordance with GAAP.
One example of an accounting error of Principle is an expenditure that is
placed in an inappropriate category.
15 JOURNAL 4
Date Particulars L.F. Debit Credit
a Purchases a/c Dr 3,00,000
Input IGST a/c Dr 54,000
To Jitender 3,54,000
b Babudin Dr 1,06,200
To Sales a/c 90,000
To CGST 8,100
To SGST 8,100
c Advertisement Exp. Dr 50,000
Input CGST Dr 4,500
Input SGST Dr 4,500
To Cash a/c 59,000
d Drawings Dr 10,000
To Bank/Cash a/c 10,000

OR
Statement showing Accounting Equation
Transaction Assets = Liabilities + Capital
Cash+bank+stock = creditors+o/s rent + capital
1. 40000+10000 =0 +50000
2. -15000+ 0 +20000 =5000
New eq. 25000+10000+20000 =5000 +50000
3. 8800 -8000= 800
New eq. 33800+10000+12000 = 5000 +50800
4. +500 -500
------------------------------------------------------------------------------------
Final eq. 33800+10000+12000 =5000 + 500 +50300
16 Balance c/d Cash(Dr) 5100 Bank(Dr) 13350(opening balance of cash1/4 4
mark and bank1/4 mark, each entry ½ mark, closing balance ½ mark)
17 Four differences between Cash basis of Accounting and Accrual basis of 4
Accounting.
18 1.Reliability 2. Understandability 3. Relevancy 4. Comparability 4
19 Bank Reconciliation statement as at 31/03/2019 6
+ -
 Balance as per Pass Book 15000
Cheques issued but not presented for payment 4800
Cheques paid into the bank but not collected 2200
Cheques entered in the cash book but omitted
to be banked 500
Cheques paid into bank for collection but not
entered in the Cash Book 1570
Interest allowed by the bank and 150
bank charges
25
Total = 17725 6520
Balance as per Cash Book ====== =====
11205

OR
Add items: c+d+f=3500+1500+1200
Minus items:a+b+c=22000+44000+1600
Balance as per Cash Book=Rs.61400

20 Plant a/c 6
Date Particulars Rs. Date Particulars Rs.
2017 To bank 2017 By Dep.a/c
Jul.1 (a)2,00,000(1/4) Dec.31 (a)10,000
(b)6,00,000(3/4) 8,00,000 (b)30,000 40,000
2017 By Bal.c/d
Dec.31 (a)1,90,000
(b)5,70,000 7,60,000
-----------
8,00,000 8,00,000
2018 To Bal.b/d -----------
Jan.1 (a)1,90,000 2018 By dep.(a)9m
(b)5,70,000 7,60,000 Oct.1 By bank 14,250
Apr.1 To Bank(c) 3,00,000 Oct.1 By P&L(loss 1,70,750
Oct.1 To Bank a/c(d) Oct.1 By Dep.a/c 5,000
(170750+29250) 2,00,000 Dec.31 b.57000
c.22500
d. 5000
By Bal.c/d 84,500
Dec.31 b.5,13,000
c.2,77,500
d.1,95,000
----------- 9,85,500
1260000 1260000
21 Journal Entries in the books of Sohan (Drawer) 8
Date Particulars L.F. Dr. Rs. Cr. Rs.
2018 Rohan a/c Dr 60,000
Jan.1 To Sales a/c 60,000
(Being goods sold on credit)
Jan.1 B/R a/c(1) Dr 25,000
B/R a/c (2) Dr 35,000
To Rohan 60,000
(Being acceptance received)
Bank a/c Dr
Jan.3 Discounting Charges a/c Dr 24,900
To B/R a/c 100
(Being Bill discounted form 25000
bank and discounting
charges are Rs.100)
Gautam Dr
Jan15 To B/R a/c(2) 35,000 35,000
(Being bill endorsed to
Gautam)
Rohan Dr
Apr4 To Gautam 35,200 35,200
(Being Bill get dishonoured
and Noting Charges Paid )
Rohan Dr
Apr4 To Interest a/c 300 300
(Being Interest made due)
B/R a/c Dr
Apr4 To Rohan 35,500 35,200
(Being new acceptance
received)
Cash a/c Dr
July 4 To B/R a/c 35,200 35,200
(Being Bill met by Rohan)

OR
Fill up the missing information in the following Journal Enteries:
Journal of A (in Rs.)
Date Particulars L.F. Dr Cr
2019 B Dr 40,000
Jan.1 To Sales a/c 40,000
(Goods sold to B)
Jan 1 B/R a/c Dr 40,000
To B 40,000
(Acceptance received from B
for 3 months)
Feb4 Bank a/c Dr 38,800 40,000
 Dis. Charges a/c Dr 1,200
To B/R a/c 40,000
(B/R discounted from @18%
Apr4 p.a.) 40,200
B Dr 40,200
To Bank a/c
(Bill dishonoured and noting
Apr4 charges paid by bank Rs.200) 750
B Dr 750
To Interest a/c
(interest receivable from B)
Apr4 40,950
B/R a/c Dr
To B 40,950
(New acceptance received
from B including interest for
2 months)

Journal of B
Date Particulars L.F. Dr. Cr.
2019 Purchases a/c Dr 40,000
Jan1 To A 40,000
(Goods purchased from A)
Jan1 A Dr 40,000
To B/P a/c 40,000
(acceptance given to A for 3
Apr4 months) 40,000
B/P a/c Dr 200
Noting Charges a/c Dr 40,200
To A
(Bill dishonoured and Noting
Apr4 Charges payable Rs.200) 750
Interest a/c Dr 750
To A
Apr4 (Interest payable) 40,950
A Dr 40,950
To B/P a/c
(New acceptance given for
2months)

PART -B FINANCIAL ACCOUNTING -II

22 Cost of Goods sold = Rs.4,80,000. 1
23 (i) Maintenance of Personal Accounts 1
(ii) Maintenance of Cash Book.
24 (d) Tally 1
25 Sole Trader 1
26 (d) 1
27 (b) 1
28 Correct meaning of Data base management 1
29 Correct any three differences (3x1) 3
30 Calculation of Opening and Closing Capitals by preparing Opening 4
statement of affair and Closing statement of affair(Opening
Capital=Rs.9,600 and Closing Capital= Rs.12,150)
Preparation of statement of Profit (Net Profit= Rs.1,550)
OR
Capital as on 01-04-2017 = Rs.33900
Capital as on 31-03-2018 = Rs.56400
Profit of the year after adjustment = Rs.9780
31 Any three correct differences 6