Half Yearly Exam-2023-24

(SAMPLE PAPER)
CLASS –XI
ACCOUNTANCY (055)
Time : 3 hours MM: 80

General Instructions:
 This question paper contains 34 questions. All questions are compulsory.
 Question 1 to 20 carries 1 mark each.
 Questions 21 to 26 carry 3 marks each.
 Questions from 27 to 29 carries 4 marks each.
 Questions from 30 to 34 carries 6 marks each.
 There is no overall choice. However, an internal choice has been provided in 7 questions of one mark, 2
questions of three marks, 1 question of four marks and 2 questions of six marks.

Q1. Give two examples of transactions which are not recorded in accounting.
OR
Accounting records business transactions and events which are of financial nature. Do you
consider it a limitation of accounting?
Q2. If the accounting information is not clearly presented, which of the qualitative
characteristic of the accounting information is violated?
OR
A firm follows a practice of giving the figures of previous year alongwith the figures of
current year. Now the Accountant of the firm wants to discontinue this practice. Do you
justify this decision?
Q3. Wasting Asset is :
A. Machinery B. Oil Wells C. Computer D. None of the above
OR
Which of the following is Revenue Expenditure?
A. Repair Expenses
B. Building Construction Expenses
C. Expenses on purchase of Machinery
D. all of the above

Q4. Following information is provided by Mohan and Sons for the year ended 31st March, 2023:
Credit Sales 12,50,000
Cash Sales. 40,00,000
Expenses. 5,00,000 (Out of which Rs. 30,000 is still to be paid)
Ascertain the net profit or loss as per Cash Basis of Accounting.
Q5. Which basis of accounting is recognised under the Companies Act 2013?
Q6. Given below are two statements, one labelled as Assertion(A) and the other labelled as
Reason(R) :
Assertion (A) : Accrual basis of accounting makes a complete record of all cash as well as
credit transactions. It, however does not follow matching principle of accounting.
Reason (R) : Accrual basis of accounting is superior to cash basis of accounting because it
depicts true profit or loss of the business and is recognised by Companies Act, 2013.
Which one of the following is correct?
Codes:
A. Both (A) and (R) are true and (R) is the correct explanation of (A).
B. Both (A) and (R) are true but (R) is not the correct explanation of (A).
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 C. (A) is true, but (R) is false.
D. (A) is false, but (R) is true.
Q7. Given below statements, one labelled as Assertion(A) and the other labelled as Reason(R) :
Assertion (A): Artificial Personal Accounts refer to those accounts which do not have a
physical existence as human beings but they work as personal accounts.
Reason (R): An Institution’s Account, Bank Account or a Firm’s Account are treated as
Artificial Personal Accounts.
Which one of the following is correct?
Codes:
A. Both (A) and (R) are true and (R) is the correct explanation of (A).
B. Both (A) and (R) are true but (R) is not the correct explanation of (A).
C. (A) is true, but (R) is false.
D. (A) is false, but (R) is true.

Q8. Machinery account is neither a …………… Account nor a …………… Account.

Q9. When a trader sells goods on credit, he prepares …………

A. Cash memo
B. Invoice
C. Debit note
D. Receipt
Q10. Rohan has returned goods worth ₹ 20,000 to Radheyshyam as he found it defective. Which
document will be prepared by Radheyshyam?
A. Invoice
B. Debit note
C. Credit voucher
D. Credit note
Q11. Rent paid to Landlord should be debited to:
A. Drawings Account
B. Landlord's Account
C. Rent Account
D. Cash Account
OR
Wages paid for the installation of a new Machine will be debited to:
A. Wages Account
B. Repairs Account
C. Machinery Account
D. Cash Account
Q12. On selling the goods for cash of the list price of ₹ 40,000 and 15% trade discount and 4%
cash discount, cash A/c will be debited by :
A. ₹32,640
B. ₹32,400
C. ₹34,000
D. ₹38,400
OR
Purchase goods from Rahul of the list price of ₹ 50,000 for cash at 20% trade discount and
received 3% cash discount. Amount credit to Discount Account will be:
A. ₹10,000
B. ₹1,500
C. ₹1,200
D. ₹11,500
Q13. A ledger is a :
A. Book of Orginal Entry
B. Book of Final Entry
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 C. Subsidiary Book
D. Cash Book
Q14. The process of transferring entries from books of original entry is called :
A. Journalising
B. Posting
C. Totalling
D. Balancing
Q15. On 1st April 2023, balance of cash column of cash book was 10,000. After receiving ₹2,000
from Anil, giving a cheque of ₹3,200 to Sunil and making payment of wages ₹500, balance
of cash will be:
A. ₹ 11,500
B. ₹ 8,300
C. ₹ 8,800
D. ₹ 6,300
OR
st
On 1 May 2023, cash book bank overdraft balance was ₹ 2,000. On depositing ₹ 10,000
into bank and giving a cheque of ₹ 7,200 for rent, the balance will be:
A. ₹ 4,800 Dr.
B. ₹ 4,800 Cr.
C. ₹ 800 Dr.
D. ₹ 800 Cr.
Q16. The balance of petty cash is :
A. Expenses
B. Profit
C. Asset
D. Liability
OR
Petty cash book is maintained to record
A. All expenses
B. All petty expenses
C. All petty expenses which are paid in cash
D. All petty cash receipts
Q17. A bank reconciliation statement is prepared by
A. Bank
B. Customers of the Bank
C. Creditors
D. Auditor
Q18. Objective of preparing Trial Balance is:
A. To ascertain the profit or loss of business
B. To ascertain the financial position of business
C. To ascertain the accuracy of accounts
D. To ascertain the arithmetical accuracy of accounts
Q19. Trial balance does not include:
A. Capital
B. Closing stock
C. Drawings
D. Opening stock
Q20. Which of the following balance of account is shown on the credit side of Trial Balance:
A. Sales A/c
B. Purchase return A/c
C. Capital A/c

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 D. All of the above

Q21. Explain any four qualitative characterstics of accounting information.

Q22. Distinguish between revenue expenditure and capital expenditure.
OR
Distinguish between fixed assets and current assets.
Q23. Give the rules of debit and credit of the three types of accounts.
Q24. Prepare Vouchers for the following transactions:
A. Furniture purchased for Rs. 60,000 form Rajesh Furniture Mart on 02-01-2023
B. Goods Sold on Cash for Rs. 40,000 on 03-01-2023 vide cash memo no. 2324.
OR
Write a short note on:
A. Invoice B. Cash Memo C. Receipt

Q25. Give any three points of distinction between cash basis and accrual basis of accounting.
Q26. Prepare a Trial Balance from the following information:
Capital 18,000
Machinery 6,000
Patents 4,000
Investment 15,000
Due from Vinod 1,200
Discount allowed 800
Bank overdraft 2,000
Due to Mohan 5,000
Interest on Investment 1,000
Bad debts recovered 4,000
Outstanding Rent 2,000
Prepaid expenses 5,000

Q27. Explain the following: (any four)

i. Dual Aspect Concept
ii. Accrual Concept
iii. Going Concern Concept
iv. Cost Concept
v. Accounting Period Concept

Q28.

(4)
Q29.

OR

Q30. Prove that Accounting Equation is satisfied in all the following transactions of Sameer Goel
:
i. Started business with Cash ₹1,00,000.
ii. Paid rent in advance ₹3,000
iii. Purchased goods for cash ₹50,000 and Credit ₹20,000.
iv. Sold goods for Cash ₹80,000 costing ₹40,000.
v. Paid salary in cash ₹4,500 and salary outstanding ₹1,000.
vi. Bought motor cycle for personal use ₹30,000.

Q31. Prepare journal from the transactions given below:

i. Cash paid for installation of machine ₹5,000
ii. Goods given away as charity ₹20,000
iii. Interest charged on capital @ 7% p.a. when total capital was ₹7,00,000
iv. Rent outstanding ₹10,000
v. Interest on drawing ₹9,000
vi. Sudhir Kumar who owned me ₹30,000 has failed to pay the amount. He pays me a
compensation of 45 paise in a rupee.
OR
Pass journal entries for the following :
2023
March 3 Bought goods from Trisha for ₹2,00,000 at 5% cash discount and 10% trade
discount. Half of the amount paid by cheque at the time of purchase.
March 4 Sold goods to Nupur for ₹50,000 at terms 4% cash discount and 20% trade
discount. Half the amount received by cash and balance half by cheque on the
same day.
March 6 Sold goods to Anuradha for ₹1,00,000 on terms 10% trade discount and 5%
cash discount if the payment is received within 15 days. 80% payment is
received on March 18th by cheque.

(5)
 March 20 Sold goods to Sudha for ₹1,00,000 at 20% trade discount and 10% cash
discount if the payment is received within 10 days. She paid half the amount
on March 26th and 30% of remainder on March 31st.

Q32. Distinguish between Journal and Ledger. Also enumerate two advantages of Ledger and
prepare. Cash A/c from Question no. 31( whichever you have opted) in the Ledger.
Q33.

Q34.

OR

(6)