CBSE Board Accountancy Class XI | Sample Paper -1 |

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CBSE Board Math Class XI | Sample Paper -1 |
Class-XI
Time: 3 hour Sub- Accountancy M.M.-90
Attempt all questions:
1. What is a debit and credit note? (1)
2. Sold goods Costing Rs. 6,000 to Nikhil for Rs. 7500 plus TAX @ 10%. Journalise. (1)
3. Briefly explain: (3)
Debtors & Creditors
Assets & Liabilities
Purchase & Sales

4. Prepare Double column Cash Book with Bank Column of Mr. Vinod from the following transactions: (5)
2010 Amt.(Rs.)
June. 1 Cash in hand Rs. 800, Bank overdraft ………………………………………. 5,700
June. 7 Received a cheque from Bharti …………………………………………………3,250
June. 9 Deposited the above cheque into bank.
June. 15 Cheque Received from Panna Lal …………………………………………….1,200
June. 20 Bharti’s Cheque returned dishonoured
June. 28 Panna Lal’s cheque was endorsed to Kamal
June. 30 Income Tax paid by cheque……………………………………………………… 150

5. Prepare a Bank Reconciliation Statement on 31 December 2013 for the following when credit balance as per bank column of cash book is Rs.1,800: (4)
(1) Cheques issued to Rs. 1020, but out of these cheque of Rs.360 were encashed on 02 January 2014.
(2) Cheque sent to bank for collection for Rs. 1090 but not credited by the bank.Rs.770.
(3) Interest on overdraft charged by the bank Rs.30.
(4) A customer directly deposited in bank Rs.500.

6. Explain the process of accounting ? (4)

7. Explain any four of the following accounting principles: (4)
• Full Disclosure Principle
• Matching Principle
• Accounting Period Principle
• Business Entity Principle
• Prudence or Conservatism Principle

8. Vinod has the following transactions. Show accounting equation for the same: (4)
(i) Started business with cash Rs.30,000; Stock Rs.12,000; Machinery Rs.20,000; Furniture Rs.10,000.
(ii) 1/3rd of the above goods sold at a profit of 10% on cost and half of the payment is received in cash.
(iii) Cash withdrawn for personal use Rs.2,000.
(iv) Interest on drawings charged @ 5%.

9. Explain the Golden Rule of Accounting: (5)
▪ Real Accounts ▪ Personal Accounts ▪ Nominal Accounts

10. X has the following assets and liabilities as on 31st March, 2014. Ascertain his capital. (4)
Cash Rs. 25,000; Bank Rs. 47,500; Debtors Rs. 18,000; Creditors Rs. 22,000; Plant and Machinery Rs. 80,000; Building Rs. 2,00,000; Furniture Rs. 24,000; Bills Receivable Rs. 56,500; Bills Payable Rs. 23,500.

11. Prepare Bank Reconciliation Statement from the following particulars on 31st March, 2014. (10)
• On 31st March 2014 the bank pass book of Mr. Mukherjee showed a balance of Rs. 15,000 to his credit.
• Before that date, he had issued cheques amountinf Rs. 8,000 of which cheques amounting to Rs. 3,200 have been presented for payment till date.
• A cheque of Rs. 2,200 deposited by him into the bank on 26th March, 2014 is not yet credited in the pass book.
• He had also received a cheque of Rs. 500 which although entered by him in the bank column in cash book, was omitted to be paid into bank.
• On 30th March, 2014 a cheque of Rs. 1,570 received by him was paid into bank but same was omitted to be entered in cash book.
• There was a credit of Rs. 150 for interest on account and a debit of Rs. 25 for bank charges.

12. Journalise the following transactions: (8)
• Goods worth Rs. 500 given as charity.
• Paid income tax Rs. 3,000.
• Rent due but not paid Rs. 1,000.
• Goods sold costing Rs. 12,000 to M/s Ram & Co. at a 10% Trade discount.
• Paid Rs. 250 as wages on installation of machine.
• Purchase goods costing Rs. 11,000 from Mohan and half payment received by cheque.
• Paid rent Rs. 200 and salary Rs. 300.
• Depreciation charged on furniture Rs. 980.
• Goods sold to Ram costing Rs. 25,000, allowed 20% Trade Discount and 8 % Cash Discount. Received half of the amount by cash and the balance by cheque within specified time.
• Cash withdrawan from bank for purchase a bike for own use Rs. 55,000.
13. Prepare the Accounting Equation on the basis of the following: (6)
• Started business with bank Rs. 1,00,000.
• Credit purchase of goods Rs. 18,000.
• Sold goods to Mohan on cash Rs. 25,000 (Cost Rs. 15,000)
• Furniture purchased Rs. 20,000.
• Charged depreciation on Furniture @ 7%.
• Goods destroyed by fire 1,500.
• Commission received in advance Rs. 2,500.

14. Journalise the following transactions in the books of M/s Rohan & Bros and prepare a Ledger of Cash and Bank. (8)
• Commenced business with Cash Rs. 1,20,000; Bank 80,000.
• Bought goods from Rajeev for cash Rs. 40,000.
• Withdrew from bank for personal use Rs. 10,000.
• Paid office expense Rs. 1,000 and salary to employees Rs. 12,000.
• Cash sales of Rs. 75,000 with 10% Trade Discount and half payment received by cheque.
• Withdrew goods for personal use Rs. 1,200.
• Cash withdrew from bank Rs. 8,000.
• Furniture purchased from Ashok Rs. 8,800.

15. Prepare Suitable Cash Book of Mr. Mohan from the following transactions: (8)
Date Transactions Amount
2014
Jan. 01
Jan. 02
Jan. 03
Jan. 05
Jan. 08
Jan. 11
Jan. 12
Jan. 19
Jan. 19
Jan. 20
Jan. 30
Jan. 31
Mohan commences business with cash
He paid into bank
He receives cheque from Ram
He pays into bank Ram’s cheque
He pays to Rohan by cheque and is allowed discount Rs. 20
Tripathi pays into his bank A/c
He received cheque from Warsi and allow him discount Rs. 35
He pay by cheque for cash purchase
He pay sundry expenses
He drawn a cheque for office use
He pay to Jagpal by cheque for commission
Cash received from Ramesh in full settlement of his account of Rs. 5,000
70,000
10,000
5,000

6,980
4,700
4,950
4,000
900
2,100
1,100
4,750

16. Give Journal entries for the following: (6)
• Bought goods at list price of Rs.50,000 from Vinod less 20% trade discount
and 2% cash discount and paid 40% by cheque.
(ii) Sold goods to Mohan at list price Rs.1,20,000 less 20% trade discount and
2% cash discount and received % by cheque.
(iii) Paid income tax through cheque Rs.2,000.
(iv) Out of the rent paid this year, Rs.3,000 relates to next year.
(v) Interest due but not received Rs.2,000.
(vi) Received an order for goods Rs. 10,000 from Mahesh and received Rs. 1,000
as advance.

17. Prepare proper subsidiary books from the following transactions for the month of February 2014. (10)
2014 Rs.
Feb 01 Goods sold to Sachin…………………………………………..5,000
Feb 04 Purchased from Kushal…………………………………………2,480
Feb 06 Sold goods to Manish………………………………………….2,100
Feb 08 Return to Kushal………………………………………………….280
Feb 10 Goods sold to Mukesh; 10 Books @ Rs. 330 each
Feb 14 Purchased from Kunal; 30 Books @ Rs. 3,360 per dozen
Less 8% trade discount
Feb 15 Furniture purchased from Tarun for office use……………….3,200
Feb 17 Bought goods from Naresh for Domestic use…………………4,060
Feb 20 6 Books Return to Kunal
Feb 24 Purchased goods from Gopal for list price of..………………..5,700
Less 7% trade discount
Feb 25 Goods sold to Chandan……………………………….………6,600
Less 5% trade discount
Feb 26 Sold to Ramesh Bros………………………………………….4,000
Feb 28 Return outward to Gopal Rs. 1,000 out of Rs. 5,700.
Feb 28 Sunil purchased an old furniture from us……………………….800

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