
	Trending ▼ ICSE CBSE 10th ISC CBSE 12th CTET GATE UGC NET Vestibulares ResFinder

CBSE Class 11 Pre Board 2019 : Accountancy (St Xavier's Sr. Sec. School, Delhi)

4 pages, 45 questions, 0 questions with responses, 0 total responses,

	Cbse 11	+Fave Message
	Profile Timeline Uploads

Home > cbse11 > F Also featured on: School Page

Instantly get Model Answers to questions on this ResPaper. Try now!
NEW ResPaper Exclusive!

Formatting page ...

Annual Examination in ACCOUNTANCY Std. 11 25-2-2019 Time : 3 hrs. Max. Marks : 90 General Instructions: i) This paper contains 24 questions and all questions are compulsory. ii) There is no word limit for numerical questions. 1. Which qualitative characteristics of accounting information are reflected when accounting information is clearly presented? (1) 2. Due to which principle contingent liabilities are shown in the balance sheet? (OR) Due to which principle full cost of an asset is not treated as an expense in the year of its purchase? (1) 3. Arjun started a business on 1st April 2017 with a capital of Rs 20,000 and a loan of Rs 10,000 borrowed from Geeta. During the year he made a profit of Rs 10,000. Find Closing capital and closing assets. (OR) Geeta commenced her cloth business on 1st April 2017 with a capital of Rs 60,000. On 31st March 2018 his assets were Rs 1,00,000 and liabilities were Rs 20,000. Find out her closing capital and profits earned during the year. (1) 4. What is meant by journalising? (1) 5. What is an opening entry? (1) 6. Calculate net sales and gross profit if the cost of goods sold is Rs 2,00,000 and gross profit is 20% on sales. (OR) Net sales during the year Rs 3,00,000. Gross profit is 25% on cost. Find out gross profit and cost of goods sold. (1) 7. Briefly explain any three limitations of financial accounting. (3) 8. Differentiate between Single entry system and Double entry system on the basis of Authenticity, Use and Accounts. (3) 9. Write three advantages of AIS. (3) 10. Differentiate between bills of exchange and promissory note on the basis of liability, parties and noting. 11. Calculate the value of closing stock from the following information: Purchases Rs 93,000, Wages Rs 20,000, Sales Rs 1,20,000, Carriage outwards Rs 3,200, Opening stock Rs 16,000, Rate of Gross profit 25% on cost. (3) 12. Define Trial Balance. Why it is prepared? (3) 13. Explain the Principle of Prudence and Realisation concept with the help of examples. (4) 14. Show i) ii) iii) iv) 15. Prepare sales Return Book in the books of Ram Lal & Co, Hisar (Haryana) from the following transactions assuming CGST @6% and SGST @ 6%. 2018 April 6: Goods returned by Ganga Prasad & co, Karnal Haryana:1 Table Fan @ Rs 6,000 Less: Trade Discount 15%. April 12: Shyam Oil Mills Yamuna Nagar ( Haryana) returned defective goods valued Rs 40,000. April 18: Allowance allowed by Sanjay & Co. Faridabad (Haryana) on account of mistake in the invoice Rs 2,500. (OR) Write three disadvantages of AIS. (3) the effect of the following transaction on the Accounting Equation: Started business with cash Rs 50,000 and Goods Rs 20,000. Bought goods for cash Rs 15,000 and on credit for Rs 10,000. Goods costing Rs 24,000 sold at a profit of 33.33%. Half the payment received in cash. Purchased furniture for office use Rs 6,000 and for household use Rs 4,000. (4) (4) Std. 11 16. -2- ACCOUNTANCY Rectify the following errors assuming that suspense account was opened. i) Amount payable to Gobind Ram for repairs done to radio Rs 1,500 and radio supplied for Rs 9,500 were entered in the Purchase book as Rs 10,000. ii) A discount of Rs 581 allowed to a customer has been credited to him as Rs 562. iii) Goods purchased for Rs 1,250 have been posted to the debit of the supplier, Vinod & co. iv) Furniture amounting to Rs 6,500 purchased on credit from Quality Furniture Co. An entry for Rs 5,600 was passed in the Purchase Book. (OR) Rectify the following errors assuming that suspense account was opened. i) Goods costing Rs 10,000 were purchased for various members of the staff and the cost was included in Purchases . A similar amount was deducted from the salaries of the staff members concerned and the net payments to them debited to Salaries Account. ii) Preeti was paid cash Rs 2,800 but Jyoti was debited by Rs 2,000. iii) Goods of the value of Rs 2,000 returned by Mr. Gupta were entered in the Sales Book and posted there from to the credit of his account. iv) A cheque for Rs 500 received from Ashok was dishonoured and has been posted to the debit of Sales Return Account. (4) 17. From the following information, prepare trading account for the year ended 31st March 2018: Adjusted purchases Rs 6,60,000. Sales Rs 7,44,000. Closing stock Rs 50,400. Freight and carriage inwards Rs 3,600. Wages Rs 6,000. Freight and cartage outwards Rs 2,000. (4) 18. Pass journal entries: i) Out of the rent paid this year Rs 10,000 is related to next year. ii) Salaries due to clerks Rs 50,000. iii) Provide 12% interest on capital and the capital was Rs 10,00,000. iv) Charge interest on drawings Rs 8,000. v) Viru who owed us Rs 15,000 is declared insolvent and 65 paise in a rupee is received as final dividend from his estate. vi) Sold goods to Karan list price Rs 20,000 trade discount 10% and cash discount 5%. He paid the amount on the same day and availed the cash discount. (6) 19. Enter the following transactions in a cash book with cash and bank columns: 2018 Jan 1: Bank Overdraft Rs 12,000; Cash in hand Rs 2,300. Jan 5: Purchased goods for Rs 40,000 Trade Discount 15% IGST 12%. Payment made by cheque. Jan 6: Sold goods for Rs 30,000 Trade Discount 10% IGST 12% Payment received by cheque. Jan 7: Cheque received from S.Nair Rs 4,000 Discount allowed Rs 200. Jan 9: Cheque received from S.Nair deposited in bank Jan 12: Cheque paid to Radha Rs 2,500 and discount received Rs 50. Jan 15: S.Nair s cheque dishonoured. Jan 20: Money withdrawn from bank for office use Rs 3,400. Jan 23: Fees of children paid by cheque Rs 75. Jan 25: Cheque received from Hira and endorsed to Sunita on 27th Jan Rs 4,500. Jan 27: Bank charges Rs 20. Jan 31: Paid in to the bank entire balance after retaining Rs 700 at office. 20. (6) On April 15, 2018 Neeraj sold goods for Rs 70,000 to Dominic and drew upon later a bill for the same amount payable after 3 months. The bill was accepted by Dominic. Neeraj discounted the bill from bank fir Rs 67,000 on 30th april 2018. On maturity, the bill was dishonoured. Dominic agreed to pay Rs 30,000 in cash including Rs 2,000 interest and accepted a new bill for 3 months. The new bill was endorsed to Dishant in full settlement of his account Rs 45,000. It was duly met on maturity. Pass journal entries in the books of Neeraj. (OR) Shubham sold goods to Vivek for Rs 10,000 on January 1, 2018 and on the same day draws a bill on Vivek for the same amount for 3 months. Vivek accepts it and return it to Shubham, who discounts it on 10th January 2018 with his bank for Rs 9,850. The acceptance is dishonoured on the due date and noting charges were paid by bank being Rs 50. On 4th April, Vivek paid Rs 2,050 (including noting charges) in cash and accepted a new bill at 3 months for the amount due to Shubham together with interest @12% per annum. Pass necessary journal entries in the books of Shubham to record these transactions. (6) Std. 11 21. -3- Kunal, a retailer has not maintained proper books of accounts but it has been possible to obtain the following details: Particulars Trade Creditors Loan from Naresh Stock Cash in hand Shop fittings Trade Debtors Bank Balance 22. ACCOUNTANCY 31/3/2017 (Rs) 6,270 5,000 12,350 570 7,250 5,280 3,990 31/3/2018 (Rs) 5,890 5,000 11,980 650 7,800 4,560 4,130 Calculate the net profit for the year end after considering the following: i) Shop fittings are to be depreciated by Rs 780. ii) Kunal has withdrawn Rs 100 per week for his own use. iii) Included in the trade debtors is an irrecoverable balance of Rs 270. iv) Interest at 5% per annum is due on the loan from Naresh but has not been paid for the year. (6) On 30th June 2018, the bank column of Desai s cash book showed a debit balance of Rs 8,250. On examination of cash book and bank statement you find that: i) Out of total cheques amounting to Rs 8,000 issued, cheques amounting to Rs 5,800 have been presented for payment up to 30th June 2018. ii) Out of total cheques amounting to Rs 6,000 sent to bank for collection, cheques of Rs 4,100 were credited in Pass Book up to 30th June 2018. iii) On 28th June a customer deposited Rs 3,500 direct in the bank but it was entered only in the pass book. iv) Debit side of Desai s cash book (bank column) has been overcast by Rs 100. v) No entry has been made in the cash book for the rent of Rs 800 paid by bankers according to Desai s standing instructions. vi) The pass book showed a credit of Rs 320 for interest and a debit of Rs 40 for bank charges, but these have not been entered in the cash book. Prepare a Bank Reconciliation Statement as on 30th June 2018. (6) 23. A company purchased two machines for Rs 20,00,000 on 1st January 1997. It purchased one more machine for Rs 6,00,000 on 1st March 1998. It sold one machine on 1st July 1999 for Rs 7,50,000 which was purchased on 1st January 1997 for Rs 12,00,000 and on the same day purchased one more machine from the sale proceeds. On 30th June 2000 the second machinery bought on 1st January 1997 for Rs 8,00,000 was auctioned at 40% of the book value on that date. Depreciation charged at 10% p.a. by diminishing balance method. Prepare Machinery account up to the year 2000. (OR) A company whose accounting year is calendar year purchased machinery for Rs 5,00,000 on 1st January 1996. Additional machinery was acquired for Rs 3,00,000 on 1st September 1997 and for Rs 2,40,000 on 1st December 2000. Certain machinery purchased for Rs 1,00,000 on 1st January 1996 was sold for Rs 48,200 on 30th June 1999. Prepare machinery account up to the year 2000 after providing depreciation at 10% per annum on reducing instalment method. (8) 24. Prepare final accounts of Rudra Pratap for the year ended 31st March 2018 from the following information: Capital Rs 20,500 Creditors Rs 15,000 Outstanding expenses Rs 3,400 Rent received Rs 300 Purchase Returns Rs 2,000 Sales Rs 1,44,800 Provision for bad debts Rs 300 Advertisement Development Rs 4,000 Plant & Machinery Rs 10,000 Goodwill Rs 2,500 Agents samples Rs 1,350 Opening stock Rs 16,000 Debtors Rs 7,300 Cash at bank Rs 1,000 Cash in hand Rs 55 Drawings Rs 2,500 Purchases Rs 85,500 Carriage inwards Rs 750 Wages Rs 11,500 Power Rs 4,000 Depreciation of machinery Rs 500 Salary Rs 17,200 Discount (cr.) Rs 900 General expenses Rs 4,100 Prepaid expenses Rs 200 Salary to agent Rs 4,550 Rent & insurance Rs 9,950 Discount (dr.) Rs 2,500 Sales Return Rs 300 Commission to agent Rs 1,445 Std. 11 -4- ACCOUNTANCY Adjustments: i) Closing stock was valued at Rs 15,700. Goods costing Rs 1,000 was destroyed by fire. The insurance company admitted the claim for Rs 790 only. ii) Write off Rs 500 as bad debts and create a provision for doubtful debts on debtors at 5%. iii) Depreciate agents samples by 33.33%. iv) Write off advertisement development by 25%. v) Charge 5% manager commission on net profits after charging his commission. vi) Proprietor withdrew Rs 100 for his private use. This amount was included in general expense. (OR) Prepare final accounts of Shalini for the year ended 31st March 2018 from the following information: Capital Rs 20,500 Drawings Rs 2,500 Creditors Rs 15,000 Purchases Rs 85,500 Outstanding expenses Rs 3,400 Carriage inwards Rs 750 Rent received Rs 300 Wages Rs 11,500 Purchase Returns Rs 2,000 Power Rs 4,000 Sales Rs 1,44,800 Depreciation of machinery Rs 500 Provision for bad debts Rs 300 Salary Rs 17,200 Advertisement Development Rs 4,000 Discount (cr.) Rs 900 Plant & Machinery Rs 10,000 General expenses Rs 4,100 Goodwill Rs 2,500 Prepaid expenses Rs 200 Agents samples Rs 1,350 Salary to agent Rs 4,550 Opening stock Rs 16,000 Rent & insurance Rs 9,950 Debtors Rs 7,300 Discount (dr.) Rs 2,500 Cash at bank Rs 1,000 Sales Return Rs 300 Cash in hand Rs 55 Commission to agent Rs 1,445 Adjustments: i) Closing stock was valued at Rs 15,700. Goods costing Rs 1,000 was destroyed by fire. The insurance company admitted the claim for Rs 790 only. ii) Write off Rs 500 as bad debts and create a provision for doubtful debts on debtors at 5%. iii) Depreciate agents samples by 33.33%. iv) Write off advertisement development by 25%. v) Charge 5% manager commission on net profits before charging his commission. vi) Proprietor withdrew Rs 100 for his private use. This amount was included in general expense. (8) -x-x-x-x-x-x-x-

Formatting page ...

Tags : cbse class xi, cbse 11, cbse 11th standard, cbse mock papers, cbse sample papers, cbse books, portal for cbse india, cbse question bank, central board of secondary education, past cbse question papers with answers, prelims preliminary exams, pre board exam papers, cbse model test papers, solved board question papers of cbse last year, previous years solved question papers, free online cbse solved question paper, cbse syllabus, india cbse board sample questions papers, last 10 years cbse final exam papers, cbse question papers, cbse guess sample questions papers, cbse important questions, specimen / mock papers.

cbse11 chat

Horizontal lines at:
Guest Horizontal lines at:
AutoRM Data:
Box geometries: