SAMPLE QUESTION PAPER

HALF YEARLY EXAMINATION, OCT 2023

ACCOUNTANCY
Name: Max. Marks: 80

Class: 11 Duration: 3 hrs.

Sec: Date: 00/10/2023

General Instructions:
1. This question paper contains 34 questions. All questions are compulsory.
2. Questions Nos. 1 to 20 are Multiple Choice Type Questions carrying 1 Mark each.
3. Questions Nos. from 21 to 26 carries 3 marks each.
4. Questions Nos. from 27 to 29 carries 4 marks each
5. Questions Nos. from 30 to 34 carries 6 marks each
6. There is no overall choice. However, an internal choice has been provided in7 questions
of one mark, 2 questions of three marks, 1 question of four marks and 2 questions of six
marks.
7. This paper consists of 12 printed pages.

Section A

1 Which of the following limitations of accounting states that accounts may be manipulated to [1]
conceal vital facts?
1. Accounting is not fully exact
2. Accounting may lead to window dressing
3. Accounting ignores price level changes

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 4. Accounting ignores qualitative elements
a) Only D
b) Only C
c) Only A
d) Only B

2 Assertion (A): If Cash =₹ 20,000, Machinery =₹ 30,000, Stock =₹ 10,000, Creditors =₹ [1]
40,000, then the net worth of the firm is₹ 20,000.
Reason (R): Capital = Liabilities - Assets.
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.

3 Preparation of a Trial Balance is: [1]

a) compulsory or optional
b) compulsory
c) none of these
d) optional

4 Which of the following is not a special purpose book? [1]

a) Sales Return Book
b) Journal
c) Journal Proper
d) Cash Book

5 Assertion (A): In large businesses, the journal is sub - divided into special journals. [1]
Reason (R): Special journals prove economical and make a division of labour possible in
accounting work.
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.

6 Contra entries refer to: [1]

a) entries that are made on both sides of cash book.
b) entries that are made only on debit side of cash book.
c) None of these
d) entries that are made only on credit side of cash book.

7 If both cash and bank columns are affected by any transactions it is called a [1]
a) Single Entry
b) Double Entry
c) Contra entry
d) None of these

8 Which of the following is an asset? [1]

a) Sales Return
b) Purchases
c) Interest Received
d) Machinery

9 Trade Discount is: [1]

a) allowed at the time of sale of goods
b) All of these
c) allowed at the time of receiving the payment
d) allowed both at the time of receiving payment and sale of goods

10 Match the following. [1]

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11 For which of the following transactions, assets and capital will decrease by same amount? [1]
a) Goods sold for cash at a profit
b) Depreciation provided on fixed assets
c) Goods sold for cash
d) Fixed asset purchased on credit

12 Balance of Capital Account is shown as: [1]

a) Liability Account
b) Revenue Account
c) None of these
d) Capital Account

13 Goods worth Rs 7,000 given away as charity would be credited to_______ [1]
a) Charity A/c
b) Sales A/c
c) Trustee A/c
d) Purchase A/c

14 Which of the following accounts will be credited on giving cash donation? [1]
a) Purchases A/c
b) Cash A/c
c) None of these
d) Donation A/c

15 Debit notes issued are used to prepare: [1]

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 a) Purchases Book
b) Purchases Return Book
c) Sales Return Book
d) Sales Book

16 A separate column is made for Credit Note No.in [1]

a) Purchases Book
b) Purchases Return Book
c) Sales Book
d) Sales Return Book

17 Goods sold for cash ₹25,000 plus 12% IGST. Sales A/c will be credited by : [1]
a) ₹22,000
b) ₹25,000
c) ₹28,000
d) None of the Above.
18 If an amount of ₹ 920 is received from debtors of ₹ 1,000 in full settlement Capital will be [1]
decreased by:
a) ₹ 160
b) ₹ 1,920
c) ₹ 80
d) ₹ 60
19 The recording is made in the purchases book: [1]
a) After deducting cash discount
b) After adding cash discount
c) After adding a trade discount
d) After deducting trade discount

20 Imprest amount ₹5,000. What will be the amount of reimbursement if the following expenses
were incurred by the petty cashier during the month:- Wages=₹1,450, Tiffin=₹1,050, small
repairs=₹5 00, General expenses=₹400
a) ₹1,600

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 b) ₹3,400
c) ₹3,050
d) ₹3,000.
21 What are the objectives or functions of a trial balance? [3]
22 From the following particulars, prepare the account of D. Budhiraja, the proprietor of a [3]
business:

Balance the same and explain what the closing balance indicates.
23 Mr. Rahul started business for buying and selling of electronic equipment with ₹ 8,00,000 as an [3]
initial investment. Out of this, he paid ₹3,00,000 for the purchase of electronic items, and
₹ 50,000 for furniture, and ₹ 60,000 for computers and the remaining amount was deposited into
the bank. He sold some electronics for cash ₹ 2,00,000 and some items for ₹1,50,000 on credit
to Mr. Rohith. Calculate,
(a) The amount of Capital
(b) The amount of Purchases
(c) The amount of Sales

24 Record the following transactions in Double Columns Cash Book and balance the [3]
book on 31st March. 2018.

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 OR
Give journal entries for the following transactions.
May 1: ₹ 5,000 paid for insurance related to the next accounting year.
May 3: Goods costing ₹4,000 were taken by the proprietor for his personal use.
May 5: Bought goods from Rana for ₹20,000 at a trade discount of 10% and cash discount of
2%. Paid 50% amount immediately.
May 6: Purchased goods from Gopal and paid by cheque ₹8,000.
May 8: Paid into Bank for opening a Current Account ₹of 25,000.

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25 [3]
Pass journal entries in the books of Devaraj & Bro. assuming that all transactions have
been entered within the State of Assam and assuming CGST @6% and SGST @6%.

2022 Transactions

Jan. Purchased goods for ₹1,00,000 on credit from

2 Raj Kapoor traders Ltd.

Jan. Purchased computer Printer for office for ₹

5 60,000 and payment made by cheque.

Jan. Sold goods for ₹ 1,50,000 on credit to Sanjay

10 Brothers Ltd.

Jan. A legal consultation fee of ₹10,000 is paid in

20 cash.

Jan. Rent of ₹ 30,000 paid by cheque.

22

Jan. Payment made of the balance amount of GST

31

26 Prepare simple cash book from the following transactions. [3]

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27 Accounting records transactions and events that can be measured in money terms. Is this, in [4]
your opinion, a limitation of accounting or an advantage? Give reasons.

28 Prepare Accounting Equation from the following: - [4]

29 Journalise the following transactions in the books of Manoj Store: [4]

1. Purchased goods from Ramesh₹ 20,000 less Trade Discount at 20% plus IGST @ 12%.

2. Sold goods costing₹ 7,000 to Krishna for ₹ 9,000 plus IGST @ 12%.

3. ₹ 5,000 were deposited into Savings Account.

4. Machinery costing₹ 4,00,000 for which order was placed earlier paying advance of ₹
40,000. The balance amount was paid as follows:

a. An old machine (personal) valued at₹ 30,000 was given in exchange;

b. Issued a cheque from his savings account for₹ 1,30,000; and

c. Balance by issue cheque from firm’s bank account.

Paid wages₹ 2,500 for installation of machine.

30 Journalise the following transactions in the books of Prakash: [6]

1. Opened a current account with Punjab National Bank₹ 1,00,000.
2. Received a cheque of₹ 12,900 from Chandradev and allowed a discount ₹ 300 to him.
The cheque was deposited into Bank on the same day.

3. Purchased machinery for₹ 1,00,000, payment made by cheque. Installation charge of

machinery ₹ 6,000 paid in cash.

4. Purchased a horse for business for₹ 20,000.

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 5. Sold goods to Gokul at a list price of₹ 4,000. Trade discount 10% and cash discount
5%. He paid the amount on the same day and availed the cash discount.

6. Purchased goods for₹ 10,000 and paid ₹ 400 for carriage on these goods.

7. Additional cash introduced by the proprietor₹ 40,000.

8. Purchased stationery₹ 800 and postal stamps ₹ 100.

9. Withdrawn form Bank₹ 20,000.

10. Received an order to supply goods of₹ 40,000 from Manu and received ₹ 10,000 as an
advance together with the order.

31 Sri Ram maintains a Columnar Petty Cash Book on the Imprest System. The imprest amount is ₹ [6]
5,000. From the following information, show how his Petty Cash Book would appear for the week
ended 12th September, 2022:

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

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32 Prepare a trial balance from the following balances of Shri Karan Johar as on 31st March, 2013. [6]

OR

The following are the balances extracted from the books of Mr. Ram Gopal. Prepare a Trial
Balance as on 31st March, 2018:

Name of account ₹ Name of account ₹

Cash 2,000 Sundry Creditors 40,000

Capital 80,000 Investment 8,000

Purchases 85,000 Plant and Machinery 15,000

Sales 1,08,400 Building 20,000

Sales Return 4,000 Electricity 700

Discount Allowed 500 Drawings 8,000

Printing 5,000 Salaries 6,000

Sundry Debtors 70,000 Travelling Expenses 6,000

Output CGST A/c 1,500 Output SGST A/c 1,500

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33 Pass journal entries and post them into the ledgers of Mr. Raghunath’s Books. [6]

Raghunath Bros. started the business with cash ₹80,000 and Furniture
2022 Dec.1
₹20,000.
Dec.2 Opened a Bank Account with ₹20,000.
Dec.5 Purchased goods from Kamalesh ₹50,000.
Dec.5 Purchased Furniture from X Ltd. ₹10,000.
Dec.10 Sold goods to Charu at the list price of ₹25,000 at a 20% trade discount.
Dec.13 Paid cash to Kamalesh in full settlement of his account ₹49,000.

34 Elaborate GAAP. Explain Accounting principles and practices in detail with proper examples. [6]
OR
Explain Accounting process in detail and also explain Journal proper.

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