Code : 1122-23 AE-A

Roll No.
Please check that this question
16
paper contains 34 questions and
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CLASS-XI
ACCOUNTANCY (055)
ANNUAL EXAM (2022-23)
Maximum Marks : 80
Time allowed:3 hours

General Instructions :
marks) and Part-B (24 marks).
1 Question Paper is divided into two parts. Part-A (56
2. Both parts are compulsory.
one place.
3. All parts of the question should be attempted at
the question.
4. Write down the question number clearly before attempting
the marks allotted to the question would be deducted for not using correct
5. 25% of
format, narrations and working notes.
6. Nothing should be written on the question paper.
7. Scheme of choice:
Mark- 7 questions (2 from unit 1, 4 from unit 2 and 1 from unit 3)
(i) 1
and 1from unit 2)
(ii) 3Mark -2questions (1 from unit 1
(iii) 4 Mark - 1 question (1 from unit 2)
6 Mark - 2 questions (1 from unit 2 and 1 from unit 3)
(iv)
the question paper.
8. 15 minute time has been allotted to read
Part-A

1. Ind-AS are
A. Rule based accounting standards
B. Principle based accounting standards
Rule based and partially Principle based accounting standards
C. Partially
D. Policy based accounting standards

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 2. Which kind of tax is GST ?
B. Indirect tax
A. Direct tax
D. Wealth tax
C. Promotional tax
books of accounts ?
3. Which of the following is recorded in the
A. Quality of goods B. Efficiency of staff
D. Donation of goods
C. Behaviour of the employees
is the proprietor of Rohan Bakers'. His Accountant Rohit prepared a Trial
4. Rohan
profit earned during the
Balance. Rohan used this Trial Balance to calulate the 1
year. Identify the Objective of Accounting explained above.
OR

Rohan is the proprietor of Rohan Bakers'. His Accountant Rohit prepared a Trial
Balance. Rohan used this Trial Balance to prepare the Balance Sheet of is firm
Rohan Bakers'. Identify the objective of Accounting explained above. 1

5. Assertion (A) : Cash basis of accounting does not follow Matching Principle. 1

Reason (R) :Cash basis of accounting does not recognize the adjustments related
to prepaid expenses and outstanding expenses.
Which of the following is correct ?
A. Both A and R are correct and R is the correct explanation of A.
B. Both A and R are correct 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.
OR

Assertion (A) : Accrual basis of accounting does follow Matching Principle. 1

Reason (R) : Records based on Accrual basis of accounting gives a true and fair
view of the Profit or Loss and the Financial position of the business.
Which of the following is correct ?
A. Both A and R are correct and R is the correct explanation of A.
B. Both A and R are correct 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.

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Correct' ?
6. Which of the following statements is Not
Deep-Freezer having a book value of 10,000for
A. An ice-cream seller sold his
cash 11,000 and earned a profit of 1,000.
B. Rent paid is Revenue Expenditure'.
newspapers from various people for
C. Rajiv, a 'Scrap dealer' purchased some old
for 60,000 and earned a profit of
? 50,000 and sold it to a recycling firm
7 10,000.
price of 5,00,000 for
D. Ramesh Electronics purchased LED TVs having list
Purchase' in his records.
? 4,00,000 and recorded 4,00,000 as
Kanika. Which Source Document'
7. Bhumika received 25,000 as rent from her tenant 1
will be prepared by Bhumika ?

Options:
A. Invoice B. Receipt

C. Pay-In slip D. Cash memo

Sh. Arihant
8. Prepare a suitable Voucher for the given transaction in the books of
1
Traders :
Transaction : Rent paid to Landlord Mr. Mahajan 5,000 in cash
of 0bjective.
9. Differentiate between Trade discount' and Cash Discount on the basis
1

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10. Match the following :

Column 1 Column 2

(a) Asset 1 Drawings

Liabilities 2. Unearned income
(b)
(c) Revenue 3. Unexpired expense
(d) Capital 4. Sales

Options :
A. (a)-3, (b)-1, (c)-4, (d)-2 B. (a)-3, (b)-2, (c)-4, (d)-1

C. (a)-4, (b)-3, (c)-2, (d)-1 D. (a)-1, (b)-2, (c)-3, (d)-4

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 following
11. amount ? 5,000. What will be the amount of re-imbursement if
Imprest 1
incurred by the petty cashier during the month :
expenses were
500, General expenses 400
Wages -? 1,450, Tiffin - 1,050, Small repairs
A. 1,600 B. 3,400
C. 3,050 D. 3,000
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12. Fill in the missing information in the following Journal entry :
Journal

Particulars LF Dr. Amount Cr. Amount

Date

Dr. 560

To Purchases alc
To

To

(Goods given as charity and

input CGST and input SGST
reversed @ 69%)

OR

Fill in the missing information in the following Journal entry : 1

Journal

Date Particulars LF Dr. Amount Cr. Amount

Dr.

Input IGST A/c Dr. 4,800

To Bank Ac

(Furniture purchased and

IGST paid @ 12%)

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13. If the Machinery alc has a balance of 40,000 and Accumulated depreciation alc has
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a balance of 18,500, the book value of Machinery is :

A. 21,500 B. { 40,000

C. 7 18,500 D. 58,500
OR

The book value of the Machinery on 31/3/2020 is 32,400. The Machinery was
purchased on 1/4/2018. Depreciation is charged annually on 31st March every year
machine on l/4/2018 was:
@ 10% p.a. on written down value method, The cost of the
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A. 740,500 B. 36,000

C. 7 42,000 D. 7 40,000

14. Statemnent 1 : Purchase of Machinery worth 50,000 on credit of 3 months from

Escorts Limited will be recorded in Purchase Book.

basis.
Statement 2 : Purchase Book records purchase of goods on credit

Which of the following options is correct ?

A. Only statement 1 is true and 2 is false.

B. Only statement 2 is true and 1 is false.

C. Both statements 1 and 2 are true.

D. Both statements 1 and 2 are false.

OR

by 'Nilkamal Furniture
Assertion (A) : Purchase of raw materials for plastic chairs
3months will be recorded in
from 'Cello Polymers' for 50,000 on a credit basis of
1
Purchase Book of Nilkamal Furniture.
recorded in Purchase Book..
Reason (R) : Purchase of goods on credit will be
Which of the following is correct ?

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 correct explanation of A.
A. Both A and R are correct and R is the
the correct explanation of A.
B. Both A and R are correct but R is not
C. A is True but R is False.

D. A is False but R is True.

15. A "Tricycle' purchased for 800 for the son of the

proprietor was debited to General
debited by : 1
Expenses Alc as R 80. In the rectifying entry, Drawings Alc will be
A. 880 B. 720

C. 800 D. 80

OR

Errors are :

A. Undetected mistakes B. Intentional mistakes 1

C. Frauds D. Unintentional mistakes

16. Sunny started business of laptops. He invested 10,00,000 as owned funds and took
a loan of 10,00,000 from a commercial bank. He purchased laptops directly from
companies for 12,00,000. He sold laptops for cash 4,00,000 and on credit for
? 6,00,000 to Aayush. He allowed Aayush a discount of 5,000 and Ac is fully
settled: 3

From the above calculate :

(a) The amount of capital

(b) Sales

(c) Amount debtor (Aayush) will pay to Sunny

OR

Hunny started business for buying and selling of masks invested 70,000 cash and
out of which he deposited 50,000 in bank. He started his trading
business in a
rented accommodation paid rent of 5,000 for month in which he started
business

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 Purchased the masks from
and paid another 5,000 advance for next month in cash.
worth ? 1,000.
supplier worth 15,000 on credit. Returned to supplier defective masks
Hunny took out masks' worth 1,000 for his family and relatives and also took out
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5,000 from bank for his personal use.
From the above calculate :

(a) Current Assets (apart form Cash in hand, Cash at bank and Stock)
(b) Creditors
(c) Drawings

17. Rectify the following errors in the books of Khyati : 3

1.
Goods sold to Tripti for 50,000 was credited to Divya as 5,000.
2.
Legal charges 15,000 paid to her Lawyer Mr. Amitabh was debited to his
personal account.
3. Sales Book was undercast by 10,000.
18. Prepare Accounting Equation from the following transactions in the books of
Jeetendra: 3
1. The following balances appeared in the books of Jeetendra on
1/1/2023 :
Cash 7 25,000
Machinery { 50,000
Stock
20,000
Accrued commission { 5,000
2. Received 2,000 for accrued
3.
commission.
Sold goods costing 8,000 for a
cash at a profit of 20% on sales price.
4.
Depreciate machinery by 10%.
5. Goods of 2,000 and cash
3,000 were used by
19. Prepare a Trial
Jeetendra for personal use.
Balance as at 31/3/22 from the following balances
books of Karvy Traders : extracted from the
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 Particulars Amount
Particulars Amount

5,00,000 Creditors 50,000

Purchases (Adjusted)
Sales 15,00,000 Debtors 60,000

25,000 Provision for doubtful debts 5,000

Stock (31/3/22)
2,000 Discount (Cr.) 5,000
Office expenses
3,000 Advertisement 3,000
Outstanding salary
10% Loan from Bank 2,00,000 Rent received in advance 2,000

Interest on loan 2,000 Cash at Bank 35,000

Machinery 10,00,000 Building 5,00,000

20. Differentiate between Reserves and Provisions on the following basis :

1. Nature

2. Investment

3 Compulsion/Prudence
OR

Malvika Fashions' created excessive provision for bad and doubtful debts. This resulted
in a certain kind of Reserve. Identify it and state any 2 advantages and any 2
3
disadvantages of such reserves.

21. Identify and explain the Accounting Assumption/Principles/Concepts/Convention

followed or violated in the case given below : 4

1. Kapil purchased a machinery for 5,00,000 and the machine is expected to

remain in service for next 5 years at least. Kapil recorded the amount spent
on purchasing the machine as a revenue expense and it was written offdebited
to Profit/Loss A/c at the end of the year.
2. Manoj and Sons' supplied defected goods to Malbhotra Builders'. Malhotra
Builders filed a suit and claimed a huge amount estimated to be 5,00,000 as
compensation from Manoj and Sons. The accountant of Manoj and Sons has
shown this estimated compensation amount as footnote while preparing the
Financial Statements.
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22. Prepare a Bank Reconciliation Statement from the following information provided
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by Sneha as on 31/12/22 :
1. Debit Balance as per Cash Book? 1,000.
2. During the month of December 2022 she had issued cheques of 10,000 out of
which ? 7,000 were presented in the month of January 2023.
3. Bank had paid Life Insurance premium of Sneha 1,500 as per her standing
instructions but it was not recorded in Cash Book.
4. Dividend 3,500 was collected by Bank but this fact was recorded in Bank
Pass book only.
OR

Prepare a Bank Reconciliation Statement from the following information provided

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by Mehak as on 31/1/23:
1. Debit balance as per Pass Book 15,000.
2. A cheque of 5,000 was received in January 2023 and was sent to the bank
immediately and was recorded in cash column of Cash Book.

3. A customer 'Aryan' deposited 7,000 directly in bank but it was not recorded
in Cash Book.

4. Bank column of Cash Book was overcast by ? 10,000.

23. Dinesh & Co. has the following balances on lst April, 2022 6

Particulars Amount

Machinery A/c 5,00,000

Provision for Depreciation Alc 1,99,000

On lst October, 2022, it sold a machinery that was purchased for 2,00,000 on
1/4/2019 for 1,00,000.
Prepare Machinery Alc and Provision for Machinery Alc for 2022-23 assuming that
depreciation was charged @10% p.a. on Reducing Balance method on 31st March
each year.

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 24. Record the following transactions in the Cash Book of 'Shreya'. Prepare Journal
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Proper' if required :
1/4/22 Cash in hand 10,000 and at Bank 5,000 (cr.).
2/4/22 Salary still payable to manager Ramesh was 2,000.
3/4/22 Manoj a customer gave a cheque of 5,200 dated 10/4/22 in full settlement
of his debt of 5,500.
4/4/22 Cash deposited in Bank 5,000.
5/4/22 Interest on Bank overdraft charged by Bank 100.
6/4/22 Paid 1,000 for Outstanding rent.
25. Journalise the following transactions in the books of Feather Graphics' Ghaziabad
(U.P.). Assume CGST and SGST @ 6% each : 6

1. Purchased goods from Mitra Traders', Faridabad (Haryana) of list price

? 1,00,000 at 20% trade discount.
2. Purchased Machinery and paid ? 2,80,000 by cheque.
3. Goods costing 10,000 purchased from Mitra traders were given as charity.
4
Purchased from ALtd. for 40,000 (excluding GST) for personal use of the
proprietor.
5. Paid ? 8,000 by cheque for electricity bill.
OR

Show the following transactions in the Sales Book of Dice Furniture House, Pahar
Ganj, New Delhi and also prepare ledger accounts of parties : 6

2022

grd April Sold goods to Laxmi Furniture, Rohtak (Haryana)

4 Sofa-sets @ 5,000 each
Less : 15% Trade discount
Add : GST @ 18%

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 10th April
Sold goods to Star Furnitures, Kanpur (U.P.)
50 chairs @ 200 each
10 Tables @ 500 each

Less : 5% Trade discount

Add : GST @ 18%

17th April Sold to Star Furnitures, Kanpur (U.P.) for cash

30 Chairs @200 each
20 Tables @ 500 each
Less : 5% Trade discount
Add : GST @ 18%
25th April Sold to Vishal Mega Mart, Hissar (Haryana)
10 Almirah @3,000 each
2 Sofa-sets @ 5,000 each
20 Chairs @ 500 each
Less : 10% Trade discount

.Add : GST @18%

Part-B

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26. The Trial Balance' of Aksh as at 31/3/22 had the following balances:

Particulars Debit Particulars Credit

Balances Balances

Prepaid Insurance 2,000

Insurance Premium 10,000

?
How will these be treated in the Final Accounts of Aksh
1
27. Cost of goods sold = 70,000
Gross profit = 12.5% of Sàles

Calculate Gross profit.

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31.
28. Rearrange the following in order of Permanence'
1. Creditors

2. Capital
3. Bank Loan

4. Bank overdraft

Options:
A. 3, 1, 2, 4 B. 2, 3, 1, 4

C. 2, 1, 4, 3 D. 4, 1, 3, 2

29. Assertion (A) : Import duty paid will be debited/charged to Trading Alc.
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Reason (R): Import duty is a direct expense as it is related to the procurement of
raw materials from foreign country/countries.

Which of the following is correct ?

A. Both A and R are correct and R is the correct explanation of A.

B. Both A and R are correct 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.

30. Differentiate between Revenue expenditure and Capital expenditure on the basis of
effect on the earming capacity of the business. 1

OR

Differentiate between Revenue expenditure and Capital expenditure on the basis of

period of benefit available. 1

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31. Calculate the Cost of Goods sold, Gross profit and Operating profit on the
bsis of the
following information 3

Net Sales =
11,00,000
Adjusted Purchases = 5,80,000
Direct expenses = 60,000

Administrative expenses = 45,000

Selling and distribution expenses = 65,000
Loss due to fire = 20,000
Closing stock = 70,000

32. The following balances appeared in the Trial Balance of Karamchand as at 31/3/2022
Sundry Debtors R 1,05,000 4

Bad debts 2,000

Provision for bad debts 4,000

Further bad debts were 5,000 and they decided to maintain a provision for bad
debts @ 10%.

Prepare the following ledger accounts :

1 Sundry Debtors A/c

2. Bad debts Alc

3. Provision for doubtful debts A/c

33. Pass necessary Closing Entries from the following Trading and Profit & Loss Alc of
co
Ayushi Traders as at 31/3/2022 : 6

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 Books of Ayushi Traders
Trading and Profit & Loss Alc
For the year ended 31/3/22
Cr.
Dr.

Particulars Amount
Particulars Amount

45,000 By Sales 3,46,800

To Opening Stock
To Purchases 1,17,500 By Closing Stock 75,000

To Carriage inwards 2,400

To dock charges 5,000

To Power charges 22,000
To Gross Profit 2,29,900
4,21,800 4,21,800

To Carriage outwards 4,500 By Gross Profit 2,29,900

To Bad debts 1,100 By Discount 2,000

To Advertisement 20,000 By Commission 1,600

To Salaries 41,000
To Interest on Bank Loan 2,000

To Rent and Insurance 24,900

To Net Profit 1,40,000
2,33,500 2,33,500

34. Prepare aTrading and Profit & Loss A/e of Kanwar Sen and Sons from the following
Trial Balance as at 31/3/2022 : 6

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 Trial Balance
as at 31/3/2022
Particulars
Debit Particulars Credit
Balances Balances

Stock (0pening) 9,200 4,00,000

Capital
Bank
13,000 Creditors 6,200
Wages 74,000 Sales 7,10,000
Purchases 4,80,000 Outstanding Rent 16,800
Drawings 72,000
Debtors 11,000
Machinery 2,00,000
Rent 54,000
Miscellaneous Expenses 2,800
Carriage on Purchases 700

Bills Receivable 21,000

Building 1,00,000
Selling and distribution expenses 45,300
10% Investment 50,000
11,33,000 11,33,000

Adjustmnents :
1. Closing stock was 8,100
150
2. Misc. expenses due but not paid were
3. Depreciate Machinery by 5%
4. Wages include 2,000 for erection of anew machinery
OR

and LoOss Alc and Balance Sheet of Raj Kishore and Sons from the
Prepare a Profit 6
Balance as at 31/3/2022:
following Trial

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 Trial Balance
as at 31/3/2022

Particulars Debit Particulars Credit

Balances Balances

5,000 Capital 40,000

Drawings
Machinery 50,000 10% Loan 20,000
Furniture 2,000 Sales 4,30,000
Opening inventory 60,000 Return outwards 8,000
Trucks 30,000 Rent received in advance 4,500
Debtors 40,000 Discount received 1,500

Cash in hand .6,000 Commission 2,000

Cash at bank 11,000
Factory wages 3,000
Office wages 4,000
Purchases 2,50,000
Bills Receivable 7,000
Return inwards 9,000
Rent 10,000
Office lighting 2,000
Telephone expenses 3,500
Advertisement expenses 6,500
Bad debts 2,000
Discount allowed 5,000
5,06,000 5,06,000

Adjustments :
1. Gross profit was 1,67,000
2. Outstanding Audit fees 2,000.
3. Depreciate Machinery and Furniture by 10%.
4. Rent for the month of February and March 2022 was due but not paid till
31/3/2022.
5. Closing Inventory was 51,000.

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