BLUE PRINT

CLASS XI ACCOUNTANCY, SET-2

ANNUAL EXAMINATION 2022-23

TIME : 3 HRS MM: 80

TOTAL

6 Marks
4 Marks
1 Mark

3 Mark

PART-A:FINANCIAL ACCOUNTING-I
UNIT-I
Theoretical 4 -- 2 -- 12
Framework
UNIT-II
Accounting process 12 4 2 2 44
and special accounting
treatment

PART-B: FINANCIAL ACCOUNTING-II

UNIT-III
Financial statements 4 -- 2 2 24
of sole proprietorship
TOTAL 20 4 6 4 80

NOTE:- There are options in Seven 1 Mark questions, Two 3 marks questions, One 4 marks and
two 6 marks questions
 SAMPLE QUESTION PAPER
ANNUAL EXAM 2022-23

CLASS – XI, SET-2

ACCOUNTANCY, 2022-23
TIME : 3 HRS M M: 80
General instructions:
1. This question paper contains 34 questions. All questions are compulsory.
2. Questions 1 to 20 carry 1 mark each.
3. Questions 21 to 24 carry 3 marks each.
4. Questions 25 to 30 carry 4 marks each
5. Questions from 31 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.

PART A : FINANCIAL ACCOUNTING - I

1. A person who owes money to a firm for goods sold on credit is called a: 1
(a) Creditor
(b) Debtor
(c) Both (a) and (b)
(d) None of these
2. Accrual concept is based on: 1
(a). Matching concept (b). Dual aspect concept
(c). Cost concept (d). Going concern concept
3. Which of the following is not the user of accounting information? 1
(a). Short-term creditors (b). Debtors
(c). Government (d). Owners
Or
Which external user of accounting information is most interested in knowing the long-term
solvency position of the firm?
(a). Employees (b). Management
(c). Bank and financial institutions (d). Researchers
4. Which of the following is an example of a source document? 1
(a). Cash Memo (b). Invoice
(c). Sales Bill (d). All of these

5. X commenced business on 1st April, 2020 with a capital of ₹6,00,000. On 31st March, 2021 his 1
assets were worth ₹8,00,000 and liabilities ₹50,000. Find out his closing capital.
(a). ₹7,50,000
(b). ₹2,00,000
(c). ₹5,50,000
(d). None of these

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6. On Intra-state purchase of goods, which of the following GST is levied? 1
(a). CGST and SGST (b). SGST and CGST
(c). CGST and IGST (d). IGST
Or
Journal entry for stock left unsold at the of the year is:
(a). Dr. Closing Stock A/c and Cr. Trading (b). Dr. Trading A/c and Cr. Closing Stock
A/c A/c
(c). Dr. Closing Stock A/c and Cr. P & L A/c (d). Dr. P & L A/c and Cr. Closing Stock
A/c
7. Ledger is called a book of 1
(a). Primary entry (b). Secondary entry
(c). Final entry (d). None of these
Or
In Ledger which types of accounts are balanced and which types of accounts are closed at the
end of the accounting period?
(a). Permanent A/cs are closed and (b). Permanent A/cs are balanced and
Temporary A/cs are balanced. Temporary A/cs are closed.
8. Sales Book records only ………………….. sale of goods. 1
(a). Cash (b). Credit
(c). Revenue (d). Deferred revenue
9. Which of the following is not recorded in the Cash Book? 1
(a). Credit sales (b). Bad debts
(c). Depreciation on Machinery (d). All of these
Or
Debit balance of ₹10,000 in the Cash Column of the Cash Book shows that:
(a). ₹10,000 has been paid out. (b). ₹10,000 is owing.
(c). The amount received exceeds the (d). ₹10,000 has been credited into the
amount paid by ₹10,000. bank account.
10. Credit Balance on the bank account of a Cash Book is: 1
(a). Favourable balance (b). Unfavourable balance
(c). Overdraft Balance (d). Both (b) and (c)
Or
Credit Balance on the bank account of a Pass Book is:
(a). Favourable balance (b). Unfavourable balance
(c). Overdraft Balance (d). Both (b) and (c)
11. Read the following statement - Assertion (A) and Reason (R). Choose one of the correct 1
alternatives given below:
Assertion (A): Purchase account is credited when the proprietor withdrawal goods from the business
for his personal use.
Reason (R): Purchase account is credited because as a result of withdrawal of goods, net amount of
purchase of the business is reduced.
Alternatives:
a) Both (A) and (R) are correct, and (R) is the correct explanation of (A).

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 b) Both (A) and (R) are correct, but (R) is not the correct explanation of (A).
c) (A) is correct but (R) is wrong.
d) Both (A) and (R) are incorrect.
12.1 If seller receives back the goods sold i.e. in case of sales return, which of the following is 1
2 prepared:-
. (a). Credit Note (b). Debit Note
(c). Both (a) and (b) (d). None of these
The term ‘Depletion’ is used for which types of assets?
(a). Liquid assets (b). Fixed Assets
13 (c). Wasting assets (d). Intangible assets
Arun purchased a machinery for 2,00,000 and scrap value of the machinery is ₹30,000 and 1
estimated life of the machinery is 10 years. What will be the rate of depreciation?
14 (a). 10% (b). 17%
(c). 12% (d). 11%
Or
A machine is purchased on April 1, 2021. On 31st March, 2022 the value of the machinery is
₹4,50,000 after charging depreciation @10% according Reducing Balance Method. What is the
cost of machinery as on April 1, 2021?
(a). ₹4,95,000 (b). ₹5,00,000
(c). ₹4,00,000 (d). Amount cannot be ascertained
Suspense A/c appears in the Trial Balance be cause of: 1
(a). One sided errors (b). Compensating errors
15 (c). Errors of principle (d). None of these
Purchase of Office Furniture of ₹1,200 has been debited to the General Expenses Account. It is 1
(a). a clerical error (b). an error of principle
16 (c). an error of omission (d). compensating error

Madan started a business on 1st April, 2019 with a capital of ₹50,000 and a loan of ₹25,000 3
taken from Sohan. During 2019-20, he had introduced additional capital of ₹25,000 and had
17. withdrawn ₹15,000 for personal use. On 31st March, 2020 his assets were ₹1,50,000. Find his
capital as on 31st March, 2020 and profit made or loss incurred during the year 2019-20.
Or
Give an example for each of the following transactions:
(i). Increase in one asset and decrease in another asset.
(ii). Increase in one asset and increase in liability.
(iii). Increase in asset and increase in owner’s capital.
Sold goods to Rahul & Bros within the state list price ₹2,50,000 at 20% trade discount and 4% 3
cash discount on sale price. Charged CGST and SGST @6% each. 80% of the amount received
18 by cheque immediately. Pass journal entry.

Or
Enter the following transactions in the books of Ridhdhi Traders assuming that all transactions
have taken place within the stat of Jharkhand. Assuming CGST @ 9% and SGST @9% (Entry
of setting off is not required to be done):
(i). Purchased goods for ₹5,00,000 from Astro Traders.
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 (ii). Sold goods to Pushkar Bros.for ₹3,00,000.
(iii). Commission of ₹10,000 received in cash.
19 Enter the following transactions in the purchase book of SR Cloth House, Ranchi, assuming 3
CGST @6% and SGST@6%.:
2018
April 4 Purchased from RK & Bros, of Ranchi
100 Metre Cotton Cloth @200 per Metre
80 Metre Woollen Cloth @₹500 per metre
April 12 Purchased from SK & co. of Patna Bihar
50 Metre Silk Cloth @600 per Metre
40 Metre Cotton Cloth @₹250 per Metre
Trade Discount 10%
April 20 Purchased from FashionFurniture House, Delhi
10 Chairs @ ₹2,000 per Chair
April 25 Purchased from Shubham & Bros of West Bengal for cash
100 Metre Woollen Cloth @ ₹600 per Metre
Trade Discount is 15% and Freight Charges payable are ₹3,000

20 What are the differences between reserve and provision? (Any Three) 3
21. Explain the following terms in brief: - 4
(a). Asset, (b). Liability, (c). Revenue and (d). Expense
Or
Explain in brief any four objectives of Accounting?
22. Explain the following in brief: 4
(i). Principle of full disclosure and (ii). Money measurement concept
23. Trial Balance of a firm did not match and difference was placed in Suspense Account. The 4
following errors were subsequently identified:
(a). Sales Book was overcast by ₹200
(b). Goods sold to Manohar for ₹550 was posted as ₹5,500.
(c). Purchases Book was overcast by ₹800.
(d). Purchases Return Book was carried forward as ₹1,220.
You are required to pass the Journal entries for rectification of the above errors.
24. Prepare a Double Column Cash Book with Cash and Bank Columns from following information 4

2018 ₹
Sep 1 Cash in Hand 7,500
Bank Overdraft 35,000
Sep 2 Paid wages 2,000
Sep 5 Cash Sales of Plus CGST and SGST @6% 70,000
Sep 10 Cash deposited into Bank 40,000
Sep 15 Goods purchased for plus IGST @12% and paid by cheque. 20,000
Sep 20 Paid Rent 5,000
Sep 25 Dew from bank for personal use 4,000
Sep 30 Salary paid 10,000

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25. Prepare a Bank Reconciliation Statement as on 31st October 2022 from the following 6
information:
i) Favourable balance as per Cash Book ₹1,26,100.
ii) Cheque issued but not yet presented for payment ₹46,000.
iii) Deposited three cheques for ₹12,000, ₹25,000 and ₹20,000 respectively in the month of
October but out of these the first 2 cheques could be cleared by the bank so far.
iv) Bank charges of ₹500 not yet recorded in the cash book.
v) Directly deposited by a customer ₹16,000 not yet entered in the cash book.
vi) The bank has paid insurance premium on standing order ₹12,400.

26. AC Mills purchased machinery on 1st August 2015 for ₹90,000. On 1st October, 2016 it 6
purchased another machine for ₹40,000.On 30th June, 2017 it sold off the first machine
purchased in 2015 for ₹58,000 and on the same date purchased a new machinery for ₹1,00,000.
Depreciation is provided at 20% p.a. on the original cost each year. Accounts are closed each
year on 31st March.
Show the Machinery Account for three years.
Or
The following balances appeared in the books of Y Limited as on 1st April 2021:
Machinery account rupees ₹ 10,00,000
Provision for depreciation account ₹ 4,50,000
The machinery was depreciated at 10% per annum on original cost method. On 1st October
2021, a machine which was purchased on 1st December 2018 for ₹1,20,000 was sold for
₹34,000.
Prepare machinery account and provision for depreciation account for the year 2021-22.
PART B : FINANCIAL ACCOUNTING - II
27. Which type of expenses is shown in Trading Account? 1
(a). Direct expenses (b). Indirect expenses
(c). Opening expenses (d). Direct and Indirect expenses

28. If sales are ₹60,000 and the rate of Gross Profit on Csot of Goods sold is 25%, Cost of Goods 1
sold will be:
(a). ₹45,000 (b). ₹50,000
(c). ₹48,000 (d). None of these
Or
If sales are Rs.2,00,000 and the rate of Gross profit on cost of goods sold is 25%, then the cost of goods
sold will be :
(a). ₹1,60,000 (b). ₹1,50,000
(c). ₹1,70,000 (d). ₹1,80,000
29. Sales is equal to 1
(a). Cost of Goods sold – Gross (b). Cost of Goods sold + Gross
Profit Profit
(c). Gross Profit – Cost of Goods (d). Cost of Goods sold + Net
sold Profit

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30. Closing stock, if given inside the Trial Balance, is shown in 1
(a). Trading A/c and Balance Sheet (b). Profit and Loss Account
(c). Profit and Loss Account and (d). Balance Sheet
Balance Sheet

31. From the following information, prepare Trading Account for the year ended 31st March, 2022: 4
Adjusted purchases ₹11,00,000; Sales ₹12,50,000; Freight and carriage Inwards ₹6,000;Wages
₹14,000; Freight And Cartage ₹5,000; Closing Stock ₹1,00,000.
32 4
₹
Balance of Provision for doubtful debts on 1st April, 2020 3,000
Bad debts written off in the ended 31st March, 2021 2,000
Sundry Debtors after writing off Bad Debts 60,000
Bad Debts written off in the year ended 31st March, 2022 500
Sundry Debtors before writing off Bad Debts 500
Maintain provision for doubtful debts 20,500
Maintain provision for doubtful debts at 5%

Prepare Bad Debts Account and Provision for Doubtful debts Account
33 From the following balances extracted from the books of M/s Ahuja and Nanda. Calculate the amount of 6
:-
(a). Cost of goods available for sale
(b). Cost of goods sold during the year
(c). Gross Profit
Opening stock ₹25,000.
Credit purchases ₹7,50,000
Cash purchases ₹3,00,000
Credit sales ₹12,00,000
Cash sales ₹4,00,000
Wages ₹1,00,000
Salaries ₹1,40,000
Closing Stock ₹30,000
Sales Return ₹50,000
Purchases Return ₹10,000.

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34. From the following information prepare Trading & P&L A/C of M/s Indian Sports House for the 6
ending December March 31st, 2022.
Account Title Amount Account Title Amount
₹ ₹
Drawings 20,000 Capital 2,00,000
Sundry Debtors 80,000 Return outwards 2,000
Bad Debts 1,000 Bank overdraft 12,000
Trade Exp. 2,400 Provision for bad Debts 4,000
Printing & Stationery 2,000 Sundry Creditors 60,000
Rent, Rates and Taxes 5,000 Bills payables 15,400
Freight 4,000 Sales 2,76,000
Returns inwards 7,000
Opening Stock 25,000
Purchases 1,80,000
Furniture & Fixtures 20,000
Plant and Machinery 1,00,000
Bills Receivable 14,000
Wages 10,000
Cash in Hand 6,000
Discount allowed 2,000
Investments 40,000
Motor Car 51,000

5,69,400 5,69,400
Adjustments:-
i. Closing stock was ₹45,000
ii. provision for bad debts is to be maintained @ 2% on Debtors
iii. Depreciation charged on Furniture & Fixtures@5%,Plant and machinery @ 6% and Motor
Car 10%.
iv. A machine of ₹30,000 was purchased on July 1st, 2021.
v. The manager is entitled to a commission of @ 10% of the net profit after charging such
commission.
Or
From the following balances prepare a Trading and Profit and Loss account and Balance Sheet for the
year ended March 31, 2022
Account Title Amount Account Title Amount
₹ ₹
Carriage on goods purchased 8,000 Stock at the end 76,000
Carriage on goods sold 3,500 Purchases less return 1,60,000
Manufacturing expenses 42,000 Commission on purchases 2,000
Advertisement 7,000 Incidental trade expenses 3,200
Excise duty 6,000 Investment 30,000

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 Factory lighting 4,400 Interest on investment 4,500
Debtors 80,000 Capital 1,00,000
Creditors 61,000 Sales less return 5,20,000
Postage and Telegram 800 Depreciation 12,000
Fire Insurance Premium 3,600 Discount allowed 2,700
Patents 12,000 Discount on purchases 3,400
Income tax 24,000 Dock and clearing charges 5,200
Office expenses 7,200
Cash in hand 2,500
Bank overdraft 30,000
Motor car 60,000
Drawings 8,000
Audit fees 2,700
Plant 1,53,900
Repairs to Plant 2,200

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 ACCOUNTANCY, SET-2
SESSION ENDING EXAMINATION - 2022-23
CLASS – XI

MARKING SCHEME
TIME : 3 HOURS MM: 80
1. (b) 1
2. (a) 1
3. (a) Or (c) 1
4. (d) 1
5. (a) 1
6. (a) Or (b) 1
7. (a) Or (b) 1
8. (b) 1
9. (d) Or (c) 1
10. (d) Or (a) 1
11. (a) 1
12. (a) 1
13 (c)
14 (a) Or (b) 1
15 (a) 1
16 (b) 1
17. Closing Capital ₹1,25,000 and Profit ₹65,000. 1 and ½ marks for
Or Closing Capital and
(i). Purchase of Machinery (Assets) for cash. 1 and ½ marks for
(ii). Purchase of Machinery (Assets) on credit. Profit.
(iii). Capital introduced by proprietor. Or
1 mark for each.
18 3
Date Particulars L.F. Amount Amount Or
(i). Bank A/c……Dr. 1,72,800 1 mark for each
Discount allowed A/c….Dr. 6,400
Rahul & Bros. A/c ........ Dr. 44,800
To Sales A/c 2,00,000
To Output CGST A/c 12,000
To Output SGST A/c 12,000
Or
Date Particulars L.F. Amount Amount
(i). Purchases A/c……Dr. 5,00,000
Input CGST A/c…..Dr. 45,000
Input SGST A/c……Dr. 45,000
To Astro Traders A/c 5,90,000

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 (ii). Pushkar Bros. A/c…..Dr. 3,54,000
To Sales A/c 3,00,000
To Output CCGST A/c 27,000
To Output SGST A/c 27,000
(iii). Bank A/c…..Dr. 11,800
To Commission A/c 10,000
To Output CCGST A/c 900
To Output SGST A/c 900
19 April 4 and April 12 will be recorded in the Purchased book. 1 and ½ marks for
April 4 Purchase ₹48,000 Input CGST ₹1,200 Input SGST ₹1,200 Total April 4 and April12
₹50,400
April 12 Purchase ₹36,000 Input IGST ₹1,800 Total ₹37,800.
20 Basis of Provision Reserve 1 mark for each
difference difference.
Meaning It is created to meet a It is created to meet an unknown
known liability. liability.
Charge or It is a charge against It is an appropriation of profits.
appropriation profit.
Utilization for It cannot be utilized for It can be utilised for distribution
dividends distribution as as dividends.
dividends.
Object The object is to provide The object is to strengthen the
for depreciation, financial position of the business.
doubtful debts and
other specific liabilities.
Or any other correct difference.

21. i. Asset:- Anything which is in the possession or is the property of a business 1 mark for each
enterprise including the amounts due to it from others, is called an asset. Or
ii. Liability:- It refers to the amount which the firm owes to outsiders. ½ mark for each
iii. Revenue:- Revenue in accounting means the income of a recurring nature from point and ½ mark for
any source. each explanation
iv. Expense: Expense is the cost incurred in producing and selling the goods and
services.
Or
Objectives of Accounting:- (Any four)
(i). To keep systematic record of business transactions:-
(ii). To calculate profit or loss:-
(iii). To the exact reasons leading to net profit or loss:-
(iv). To ascertain the financial position of the business:-
(v). To ascertain the progress of the business from year to year:-
(vi). To prevent and detect errors and frauds:-
(vii). To provide information to various parties:-
(Or any other correct objectives)
22. (i). Principle of full disclosure:- This principle requires that all significant information 2 marks for each.
relating to the economic affairs of the enterprise should be completely disclosed.
Even the contingent liabilities must be disclosed as a footnote to financial
statements i.e. Balance Sheet. (ii). Money Measurement Concept:- According to this

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 concept only those transactions are recorded in the books of accounts which can be
measured in terms of money and those which cannot be recorded in terms are not
recorded in the books of accounts.
23. Date Particulars L.F. Amount Amount 4
(i). Sales A/c……Dr. 200
To Suspense A/c 200
(ii). Suspense A/c…..Dr. 4,950
To Manohar A/c 4,950
(iii). Suspense A/c…….Dr. 800
To Purchases A/c 800
(iv). Purchase Return A/c ..............Dr. 100
To Suspense A/c 100
24. Cash balance ₹85,900 and Bank Overdraft balance ₹28,300 4
25. i) + 1,26,100 6
ii) + 46,000
iii) – 20,000
iv) 500
v) + 16,000
vi) – 12,400
Cr. balance as per Passbook = 1,55,200
26. Machinery A/c 2 marks for each
Date Liabilities Amount Date Assets Amount year
2015 To Bank A/c 90,000 2016 By Dep. A/c 12,000 Or
Aug.1 Mar By Balance C/d 78,000 31 (3M + 3M)
2016 To Balance B/d 78,000 2017 By Dep. A/c 22,000 Apr
1 To bank A/c 40,000 Mar By Balance C/d 96,000Oct
1 31
2017 To Balance b//d 96,000 2017 By Dep. A/c 4,500
Apr 1 To Bank a/c 1,00,000 June By Bank A/c 58,000
Jun To P &L a/c 2,500 30 By Dep. A/c 23,000
30 2018 By Balance C/d 1,13,000
Mar
31
Or
Machinery A/c

To Balance b/d 10,00,000 By Bank A/c 34,000

By Prov. For Depr. A/c 34,000
(for 34 Months)
By Statement of P/L 52,000
(Loss)
By Balance c/d 8,80,000
10,00,000 10,00,000
Provision for Depreciation A/c

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 To Machinery A/c 34,000 By Balance b/d 4,50,000
To Balance c/d 5,10,000 By Depreciation A/c 6,000
(6M)
By Depreciation (on 88,000
remaining machine for
full year)
5,44,000 5,44,000
27. (a) 1
28. (c) Or (a) 1
29. (a) 1
30. (d) 1
31. Gross Profit ₹1,30,000. 4
32 Bad Debts A/c 2 Marks for Bad
Debts A/c and 2
2021 2021
Marks for Provision
Mar To S. Debtors A/c 2,000 Mar By Prov. For
for Doubtful Debts
31 31 D/D 2,000
A/c
2021 2021
Mar To S. Debtors A/c 500 Mar By Prov. For 500
31 31 D/D

Prov. For Doubtful Debts A/c

2021 2020
Mar To Bad Debts 2,000 Apr 1 By Bal. c/d 3,000
31 To Bal. c/d 3,000 2021
Mar 31 P & L A/c 2,000
2022 2021
Mar To Bad Debts A/c 500 Mar 31 By Prov. For 500
31 To P & L A/c 1,500 D/D
To Bal. c/d 1,000

33 Cost of goods available for sales Rs.11,65,000.2 marks 6 Marks

Cost of goods sold Rs.11,35,000. 2 marks
Gross Profit Rs.4,15,000.

34. Gross profit Rs.97,000. Net profit Rs.68,909, Manager’s commission Rs.6,891. 2 Marks for Trading
3 Marks for Trading Account, 3 marks for Profit and Loss Account and 2 marks for A/c and 4 marks for
calculating Manger’s commission. Profit and Loss A/c
Or Or
Gross Profit ₹2,98,400; Net Profit ₹2,55,400 and Balance Sheet ₹4,14,400 2 marks each for
Trading A/c, Profit
and loss A/c and
Balance Sheet.

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