SAMPLE QP-MODEL EXAMINATION, JANUARY 2024

ACCOUNTANCY
Name: Max. Marks: 80
Class: XI Duration: 3 hr
Sec: E/F Date: 00 .01.2024

GENERAL INSTRUCTIONS:

1. This question paper contains 34 questions. All questions are compulsory.

2. Question 1 to 20 carries 1 mark each.
3. Questions 21 to 26 carry 3 marks each.
4. Questions from 27 to 29 carry 4 marks each
5. Questions from 30 to 34 carry 6 marks each
6. 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.
7. This question paper consists of 9 printed pages.

1 [1]
Which of the following is not a business transaction?
(a) Bought furniture for 10,000 for business
(b) Paid for salaries of employees 5,000
(c) Paid son’s fees from her bank account 20,000
(d) Paid son’s fees from the business of 2,000

2 Double Entry means: [1]

(a) Entry for the two aspects of books
(b) Entry on two dates
(c) Entry in two aspects of the transaction
(d) All of the above.
3 “Anticipate no profits and provide for all possible losses”. Identify the accounting principle [1]

mentioned in this statement.

(a) Dual Aspect Principle

(b) Materiality Principle
(c) Consistency Principle
(d) Conservatism Principle
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 OR
Cash, goods or assets invested by the proprietor in the business for earning profit is called-
(a) Profit
(b) Capital
(c) Fixed assets
(d) None of these.

4 What is unfavorable balance ? [1]

(a) Credit balance in the cash book
(b) Credit balance in Bank statement
(c) Debit balance in the cash book
(d) Debit balance in the petty cash book
5 What are the taxes levied on an intra-State Supply? [1]
(a) CGST
(b) SGST
(c) CGST and SGST
(d) IGST
6 Which of the following item is not included in the Cash Book? [1]
(a) Purchases of ₹10,000
(b) Sales of ₹ 5,000
(c) Received cash from Salman ₹2,000
(d) Credit sales of ₹ 22,000
OR

An asset is purchased for Rs. 50,000 on which depreciation is to be provided annually according to the
straight line method. The useful life of the asset is 10 years ad the residual value is Rs. 10,000. The rate of
depreciation is _____________.
(a) 20%
(b) 18%
(c) 10%
(d) 8%

7 Which of the following is not a fixed asset: [1]

(a) Building
(b) Bills Receivable.
(c) Patent
(d) Goodwill.
8 Which branch is used for calculating the cost of the product and fixing MRP is: [1]

(a) Financial Accounting

(b) Management Accounting.
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 (c) Cost accounting.
(d) Tax Accounting.

OR

The objective of Financial Accounting is:

(a) to calculate profit and loss
(b) to maintain records of the business.
(c) to depict the financial position
(d) All of these.

9 A percentage reduction from the list price of merchandise allowed to retailers by wholesaler is [1]
called:

(a) Cash Discount

(b) Trade Discount
(c) Rebate
(d) Allowance.

10 Pawan, a trader in electronic goods, gifted a refrigerator to his daughter. …………..A/c will be [1]

debited, and ……………..A/c will be credited.

(a) Refrigerator A/c & Cash A/c

(b) Drawings A/c & Cash A/c
(c) Gift A/c & Purchase A/c
(d) Drawings A/c & Purchases A/c.

OR

Define Trade Receivables and Trade Payables?

11 A cheque received and deposited on the same day will be recorded in the cash book in? [1]

(a) Cash column on the debit side

(b) Cash column on the Credit side.
(c) Bank column on the debit side
(d) Bank column on the Credit side.

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12 The original Cost of an asset is ₹3,50,000; its salvage value is ₹ 25,000; its useful life is 5 years. [1]
Annual Depreciation under the Straight Line Method is:
OR

Statement-I “Accountancy starts where book-keeping ends.”

Statement-II “Accountancy refers to the entire body of the theory and practice of Accounting.”

(a) Both statements are true and Statement-II is the correct explanation of statement-I
(b) Both statements are true but statement-II is not the correct explanationof statement-I
(c) Statement-I is true, but statement-II is false
(d) Statement-II is true, but statement-I is false

13 For depositing cash in our Bank account, we require: [1]

(a) Cheque
(b) Voucher
(c) Pass Book
(d) Pay-in slip.

14. Which of the following is not an objective of providing depreciation? [1]

(a) To ascertain the true profit and loss
(b) To show the true and fair view of financial statement
(c) To avoid overpayment of income tax
(d) To provide fund for replacement of the assets.

15 Provision for bad and doubtful debt is created: [1]

(a) To cover the loss
(b) To cover the profit
(c) To cover the debts.
(d) To cover the reserve.
OR
Creating Reserve is important because it helps in :
(a) meeting the future contingencies
(b) strengthening the financial position of the business
(c) Both (a) and (b)
(d) None of these.

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16 The liability arising from the purchase of goods on credit is called. [1]
(a) Creditors
(b) Debtors
(c) Drawings
(d) Outstanding liability.
17 Which of the following is not recorded in the cash book: [1]
(a) Trade discount
(b) Bad debts
(c) Credit purchases
(d) All of the above.

18 Match the following: [1]

Column A Column B
1. Asset (a) Bank
2. Personal account (b) Furniture
3. income tax (c) Real account
4. Asset installation expense (d) Personal account.

19 Which item shows a debit balance in the trial balance? [1]

(a) Purchase Return

(b) Salary Outstanding
(c) Sales
(d) Prepaid Expenses.
20 External users of accounting information are not [1]
(a) lenders
(b) officers
(c) employers
(d) public
OR
What do you mean by ‘Accrual Basis of Accounting’?
21 Explain the Asset disposal account. Give two objectives of this account in business firms. [3]

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22 Pass journal entries in the books of Mr. Sanoj Bros. assuming that all transactions have [3]
been entered within the state of Bihar and assuming CGST @6% and SGST @6%.

2022 Jan 2. Purchased goods from Max Ltd for ₹2,000 on credit.
Jan 5 Sold goods for ₹3,00,000 to ABC Ltd. on credit.
Jan 28 Rent of ₹10,000 paid by Cheque
OR
Pass journal entries for the following transaction:

2022 Dec-02 Sold goods to Alex at the list price of ₹ 200,000 at a trade discount of 20%.
Dec-05 Received from Alex the full payment under a cash discount of 4%.

23 Differentiate between specific reserve and general reserve [3]

24 Prepare an Accounting Equation on the basis of the following: [3]
Started business with cash ₹80,000 and opened a Bank Account with a deposit of
(i) ₹10,000.
(ii) Purchased goods for Cash ₹20,000 and on credit ₹15,000.
(iii) Sold goods (cost price ₹8,000) for ₹9,000 on a cash basis.
OR
Prepare Accounting Equation on the basis of the following:

(i) Started business with cash Rs.70,000.

(ii) Credit Purchase of goods Rs.18,000.
(iii) Payment made to creditors in full settlement Rs.17,500.
(iv) Purchase of Machinery for cash Rs.20,000.

25
Put the following on the proper side of the Debtor’s A/c, Creditor’s A/c, and cash A/c:-
[3]
(a) Sold goods for cash ₹50,000
(b) Sold goods to X on credit ₹50,000
(c) Received cash from X. ₹30,000
(d) Purchased goods from Y on credit ₹50,000
(e) Purchased goods from Y for cash ₹10,000
(f) Paid to Y ₹25,000

26 Pass the journal entry for (i) Bad debts, (ii) Accrued Income (iii) Outstanding Rent. [3]
27 Sri Ram maintains a Columnar Petty Cash Book on the Imprest System. The imprest amount is ₹ 5,000. [4]
From the following information, show how his Petty Cash Book would appear for the week ended 12th
September, 2022:

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 2022 ₹
Sept. 7 Balance in Hand 1,349
Received cash reimbursement to make up the
imprest
Postage 123
Stationery 321
Entertainment 54
Sept. 8 Travelling and conveyance 126
Miscellaneous expenses 11
Entertainment 72
Sept. 9 Repairs 1,567
Sept. 10 Postage 174
Entertainment 127
Travelling 673
Sept. 11 Stationery 41
Entertainment 12
Sep-12 Miscellaneous expenses 201
Travelling 51
Postage 483
Repairs 30

28 Give any four differences between cash book and pass book. [4]

29 From the following information, calculate Capital at the beginning: [4]

(i) Capital at the end of the year-₹4,00,000

(ii) Drawings made during the year- ₹60,000
(iii) Fresh Capital introduced during the year- ₹1,00,000.
(iv) Profit of the current year- ₹80,000.
OR

Define the types of cash book. Explain

30
On 1st April 2015, Ashoka Ltd. purchased machinery costing ₹5,00,000 plus IGST @ 12%. On
[6]
July 1, 2018, machinery was sold for ₹2,00,000 plus IGST @12%. Prepare machinery account by
calculating depreciation @ 10% p.a. on original cost method. Accounts are closed on 31 st March each
year. OR

An asset was purchased for ₹10,500 on 1st April, 2015. The scrap value was estimated be ₹500 at

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 the end of asset’s 10 years’ life. Straight Line Method of depreciation was used.
The accounting year ends on 31st March. The asset was sold for ₹600 on 31st March, 2016.
calculate the following:
a. The Depreciation expense for the year ended 31st March, 2016.
b. The net book value of the asset on 31st March, 2020.
c. The gain or loss on sale of the asset on 31st March, 2022.

31 Prepare a double-column cash book from the following transactions for the year of August 2021. [6]
2022August
1 Cash in hand ₹ 17,500
2 Cash at the bank ₹ 5,000
3 Purchased goods for cash ₹3,000
5 Received cheque from Naresh ₹ 10,000
8 Sold goods for cash ₹7,000
10 Naresh’s cheque deposited into the bank
12 Purchased goods and paid by cheque ₹20,000
15 Paid establishment expenses through bank ₹1,000
18 Cash sales ₹7,000
20 Deposited into bank ₹10,000
24 Paid trade expenses ₹ 500
27 Received commission by cheque ₹6,000
29 Paid Rent ₹ 2,000
30 Withdrew cash for personal use ₹ 1,200
31 Salary paid ₹ 6,000.
32 Prepare a Bank Reconciliation Statement as of 30.09.2022 from the following particulars: [6]

(i) Bank Balance as per Passbook ₹10,000

(ii) The cheque was deposited into the bank but no entry was passed in the cash book ₹500.

(iii) The cheque was received and entered in the cash book but not sent to the bank ₹1,200.

(iv) Insurance premium paid directly by the bank ₹800.

(iv) Bank charges were entered twice in the cash book ₹20.

(vi) Cheque received was entered twice in the cash book ₹1,000.
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 OR

Prepare a Bank Reconciliation Statement as on 30.09.2022 from the following particulars:

(i) Bank Balance as per passbook ₹10,000

(ii) Cheque deposited into bank but no entry was passed in the cash book ₹500.
(iii) Cheque received and entered in cash book but not sent to bank ₹1,200.
(iv) Insurance premium paid directly by the bank ₹800.
(v) Bank charges entered twice in the cash book ₹20.
(vi) Cheque received entered twice in cash book ₹1,000.
(vii)Bill discounted dishonoured not recorded in the cash book ₹5,000.

[6]
33 From the following balances, taken from the books of M/s Dwarka Parshad & Sons as at
31st March 2017, prepare a Trial Balance in proper form :−

Name of (₹) Name of Accounts (₹)

Accounts
Cash in Hand 4,500 Machinery 24,000
Bank Overdraft 8,000 Land & Buildings 50,000
Opening Stock 20,000 Debtors 18,400
Purchases 80,000 Creditors 8,500
Purchases Returns 2,000 Bills Receivable 2,850
Sales 1,30,000 Bills Payable 1,650
Sales Returns 5,000 Capital 60,000
Travelling Expenses 1,800 Drawings 6,000
Discount Allowed 600 Rent 3,700
Discount Received 1,500 Salaries 3,600
Loan (Cr.) 10,000
Interest on Loan 1,200
34 Differentiate reserves with provisions in detail. [6]

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