Delhi Public School, Sitapur

II Term Re-Exam 2024-25

TIME: 3 Hrs SUBJECT: Accountancy CLASS: XI Max. Marks: 80
General Instructions:
(i) This Question Paper contains 32 questions in all. (ii) All questions are compulsory.
(iii) Marks are indicated against each question. (iv) Give calculations and working notes neatly and clearly
(v) Question number 1 to 20 carry one mark each wherever required.

1. GAAP in accounting stands for?

2. The concept that a business enterprise will not sold or liquidated in the near future is known as:
(a) Going Concern (b) Economic Entity (c) Money measurement Concept (d) None of these

3. Provision is created for:

(a) Known Liability (b) Unknown Liability (c) Strengthening Financial Position (d) Distribution of Dividend

4. Given below are two statements, one labelled as Assertion (A) and other labelled as Reason (R):
Which one of the following is correct?
(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.

Assertion (A):
The accounts of all those things whose value can be measured in terms of money are termed as 'Real Accounts', such as Cash
Account, Machinery Account, Land & Buildings Account, Bank Account etc.
Reason (R):
Bank Account is not a real account but it is an 'Artificial Personal Account', since it represents the account of Banking Company
which is an artificial person.
5. Under which basis of accounting, Outstanding Expenses are not recorded?
6. What is Journalising?
7. Define Drawings.
8. Goodwill Account is:
a. Personal Account b. Real Account c. Nominal Account d. Personal and Real Account both

9. On inter - state purchase of goods, which of the following GST is levied:

(a) CGST (b) SGST (c) IGST (d) None of the above

10. Discuss the rule of debit used in following entry:

Furniture a/c.... Dr.
To Shaam
a. Asset increases b. Asset Decreases c. Expense Increases d. Liability Increases

11. State the formula to calculate the depreciation as per “Straight line method”.

12. Given below are two statements, one labelled as Assertion (A) and other labelled as Reason (R) :
Which one of the following is correct?
(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.

Assertion (A):
The accounts of all those things whose value can be measured in terms of money and which are the properties of business are
termed as 'Real Accounts', such as Cash Account, Machinery Account, Land & Buildings Account, etc.
Reason (R):
Bank Account is not a real account but it is a “Personal Account”, since it represents the account of Banking Company which is an
artificial person.
13. Explain Accounting Standard 10.
14. Cost of Plant and Machinery is an example of ___________(Capital/Revenue) Expenditure.
15. Write any one point of difference between salaries and wages.

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16. Give two examples of lntangible Assets.
17. Which Book is called as a principal book of accounting?
18. Which of the following can be prepared under Single Entry system?
(a) Trial balance (b) Ledger Accounts (c) Statement of Affairs (d) All of the above.

19. What is petty cash book?

20. Write the formula of accounting equation?

21. Enter the following transactions in the Cash Book (Double column) of Mehra &Sons: 3 Marks

Date Transactions Amount

2023
Jan-1 Cash in Hand 96,000
Cash at Bank 16,000
Jan-5 Cheque received from Rehman and deposited in the back 40,000
Jan-9 Cheque paid to Rahul 25,500
Jan-15 Money withdrawn from Bank for office use. 10,000
Jan-31 Life Insurance Premium paid 750

22. Discuss any three advantages of GST? 3 Marks

Note: Questions number 23 to 27 carries four mark each.

23. Rectify the following errors:

[Link] paid Rs. 5,000 was debited to employee’s personal account.

[Link] Paid Rs. 4,000 was posted to landlord’s personal account.
[Link] withdrawn by proprietor for personal use Rs. 1,000 were debited to sundry expenses account.
[Link] received from Kohli Rs. 2,000 was posted to Kapur’s account.

4 Marks

24. Enter the following transaction in cash book for December 2024: 4 Marks

01 Cash in hand 7,750

06 Paid to Sonu 450
08 Purchased goods 600
15 Received cash from Parkash 960
20 Cash sales 500
25 Paid to Veeru 1,200
30 Paid rent 600

25. From the following particulars, prepare a bank reconciliation statement as of March 31, 2024. 4 Marks
(i) Balance as per cash book ₹ 3,200
(ii) Cheque issued but not presented for payment ₹ 1,800
(iii) Cheque deposited but not collected up to March 31, 2017 ₹ 2,000
(iv) Bank charges debited by bank ₹ 150

26. Explain the following concepts: 4 Marks

(a) Drawings (b) Window dressing (c) Revenue recognition concept.

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27. Classify the following items: 4 Marks

Items Current Assets Non-Current Assets Current Liabilities Non-Current Liabilities

Machinery
Sundry Creditors
Cash at Bank
Goodwill

28. Supriya Limited purchased a Machinery for Rs 5,00,000 on 1st January 2015. Depreciation is provided @ 20% p.a. on cost of the
Machinery every year. On 1st January 2017, the Machinery got an accident and damaged badly. The company disposed off it for Rs
1,00,000. On the same date a new Machinery at a cost of Rs 9,00,000 was purchased. Prepare Machinery Account for four years.
The accounts are closed on 31st December every year. 6 Marks

29. Enter the following transactions in double column cash book of M/s Ambica Traders for November 2022. 6 Marks

₹
01 Commenced business with cash 50,000
03 Opened bank account with ICICI 30,000
05 Purchased goods for cash 10,000
10 Purchased office machine for cash 5,000
15 Sales goods on credit from Rohan and received cheque 7,000
18 Cash sales 8,000
20 Rohan’s cheque deposited into the bank
22 Paid cartage by cheque 500
25 Cash withdrawn for personal use 2,000
30 Paid rent by cheque 1,000

30. Explain the following: 6 Marks

(a) Dual Aspect Concept (b) Prudence or Conservatism Principle (c) Matching concept

31. Following balances have been extracted from the trial balance of M/s Keshav Electronics Ltd. You are required to prepare the
trading and profit and loss accounts and a balance sheet as on March 31, 2024.

Account Title Amount Account Title Amount

₹ ₹

Opening stock 2,26,000 Sales 6,80,000

Purchases 4,40,000 Return outwards 15,000

Drawings 75,000 Creditors 50,000

Buildings 1,00,000 Bills payable 63,700

Motor van 30,000 Interest received 20,000

Freight inwards 3,400 Capital 3,50,000

Sales return 10,000

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 Trade expense 3,300

Heat and power 8,000

Salary and wages 5,000

Legal expense 3,000

Postage and telegram 1,000

Bad debts 6,500

Cash in hand 79,000

Cash at bank 98,000

Sundry debtors 25,000

Investments 40,000

Insurance 3,500

Machinery 22,000

11,78,700 11,78,700

The following additional information is available:

1. Stock on December 31, 2024, was ₹ 30,000.
2. Depreciation is to be charged on the building at 5% and the motor van at 10%.
3. Provision for doubtful debts is to be maintained at 5% on sundry debtors.
4. Unexpired insurance was ₹ 600.
5. The manager is entitled to a commission @ 5% on net profit before charging such commission.

8 Marks

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32. On January 01, 2011, Satkar Transport Ltd, purchased 3 buses for ₹ 10, 00,000 each. On July 01, 2013, one bus was involved in
an accident and was completely destroyed and ₹ 7, 00,000 were received from the Insurance Company in full settlement.
Depreciation is written off @15% p.a. on diminishing balance method. Prepare bus account from 2011 to 2014. Books are closed
on December 31 every year. 8 Marks

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