ST.

XAVIER’S SENIOR SECONDARY SCHOOL, DELHI – 110 054

Std. 11 Time : 3 hrs.
18-2-2025 Final Examination - ACCOUNTANCY Max. Marks : 80

GENERAL INSTRUCTIONS:
i) This question paper contains 34 questions. All questions are compulsory.
ii) Question numbers 1 to 20 carries 1 mark each.
iii) Questions numbers 21 to 26 carries 3 marks each.
iv) Questions numbers from 27 to 29, carries 4 marks each.
v) Questions numbers from 30 to 34 carries 6 marks each.
vi) 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.
1. A summarized record of relevant transactions of particular head at one place is known as a ____. 1
A. Ledger B. Journal C. Account D. Purchases book
2. A percentage reduction from the list price of merchandise allowed to retailers by whole seller
is called: 1
A. Commission B. Cash discount
C. Trade discount D. Allowance
3. Accounts receivable are considered as: 1
A. Current assets B. Income
C. Deferred receipts D. Fixed assets
(OR)
Bad debts arise from:
A. Credit sales B. Cash sales
C. Personal sales D. All of these
4. Choose the principle which enables the comparison of the financial result inter- firm as well
as intra firm. 1
A. Consistency B. Prudence
C. Full disclosure D. Matching
(OR)
The statement that provide the applicability of laws, customs, usages and the business
environment of any country is known as ______.
A. Financial statement B. Accounting Information
C. Accounting standards D. Accounting Convention
5. STATEMENT (i): The money measurement concept states that, only the money related
transactions can be recorded in the books of accounts.
STATEMENT (ii): The creativity of the employee that contributes to the profit in the Research
Department can be recorded under the money measurement Concept.
Choose the correct alternative. 1
A. Statement (i) is the correct statement.
B. Statement (ii) is the correct statement.
C. Both statements (i) and (ii) are the correct statement.
D. None of the Statement is the correct statement.
6. Insurance premium of ₹ 12,000 paid for one year on 1st August, 2018, unexpired insurance
premium is on 31st March, 2019 will be ______. 1
A. ₹ 4,000 B. ₹ 5,000 C. ₹ 6,000 D. ₹ 7,000.
(OR)
Sold goods costing ₹ 75,000 at a profit of 33-1/3% in cash. Choose the correct accounting
equation from the given options.
A. Increase in cash by ₹ 1,00,000 and decrease in stock by ₹ 75,000 and decrease in
capital by ₹ 25,000.
B. Increase in cash by ₹ 75,000 and decrease in stock by ₹ 75,000.
C. Increase in cash by ₹ 1,00,000 and increase in stock by ₹ 1,00,000.
D. Increase in cash by ₹ 1,00,000 and decrease in stock by ₹ 75,000 and increase in
capital by ₹ 25,000.
7. Owner’s capital in the beginning is ₹ 1,20,000 creditors at the end ₹ 1,00,000. Revenue
during the period ₹ 1,40,000 and expenses during the period are ₹ 1,30,000. Owner’s
capital at the end ₹ _____. 1
A. ₹ 1,30,000 B. ₹ 2,70,000 C. ₹ 2,40,000 D. ₹ 1,80,000
8. Goods costing ₹ 18,000 sold at a Profit of 25% on sales, then the profit will be ₹ _______. 1
A. ₹ 6,000 B. ₹4,500 C. ₹5,000 D. ₹ 5500
(OR)
Std. 11 -2- ACCOUNTANCY

Sold goods costing ₹ 1,00,000 to Anil of Delhi at a profit of 20% on sales less 20% Trade
Discount plus CGST and SGST @ 9% each. Identify the amount of CGST paid from the
following options. 1
A. ₹ 10,000 B. ₹ 10,800 C. ₹ 9,000 D. ₹ 10,500
9. Mahesh started a business with a capital of ₹ 15,000 on 1st April, 2023. During the year,
he made a profit of ₹ 3,000. He owes ₹ 2,500 to suppliers of goods. What is the total of
assets in his business on 31st March, 2024? Choose the correct alternative. 1
A. ₹ 20,500 B. ₹ 20,000 C. ₹ 15,000 D. ₹ 13,000
10. There was a loss by fire of ₹ 10,000 but company approved the claim of only ₹ 8,000,
this difference of ₹ 2,000 will be debited to ______. 1
A. Cash account B. Insurance claim account
C. Profit and loss account D. Loss by fire account
11. Which of the following is not a reason due to errors made by the business while preparing
bank reconciliation statement? 1
A. Uncollected cheques.
B. Receipt side of Cash Book overcast.
C. Cheques debited in Cash Book but not banked.
D. Bank Charges recorded twice in Cash Book.
12. Capital Redemption Reserve is a ________. 1
A. General Reserve B. Specific reserve
C. Revenue Reserve D. Secret Reserve
13. Capital and interest on capital have ____ and ______balances respectively in a trial balance. 1
A. Credit and debit B. Debit and credit
C. Debit and debit D. Credit and credit.
14. Rent paid during the year amounted to ₹ 3,00,000, which includes ₹ 20,000 relating to the
previous year and ₹ 20,000 relating to the next year. ₹ 30,000 relating to the current year is
still outstanding. Pick up the correct amount of rent will be debited to the profit & Loss
account of the current year. 1
A. ₹ 200000 B. ₹ 2,90,000 C. ₹ 2,15,000 D. ₹ 2,80,000
15. Heavy amount spent by Airtel on Advertisement for brand positioning in the market will fall
under which category? Choose the correct option. 1
A. Revenue Expenditure B. Capital Expenditure
C. Deferred Revenue Expenditure D. Working Capital Expenditure
(OR)
The manager is entitled to a commission of 10% on Net Profit after charging such commission.
If net profit is ₹ 1,10,000, then manager’s commission will be ₹ _____.
A. ₹ 11,000 B. ₹ 20,000 C. ₹ 10,000 D. ₹ 1,00,000
16. Loss of goods by fire should be credited to _____. 1
A. Sales Account B. Loss Account
C. Profit & Loss Account D. Purchases Account
17. Manufacturing expenses are treated as _______. 1
A. Capital Expenditure B. Direct Expenses
C. Indirect Expenses D. Deferred Revenue Expenditure
(OR)
Closing Stock given inside the Trial balance is shown only in _______.
A. Balance Sheet B. Trading Account
C. Profit & Loss Account D. Trading Account and Balance sheet
18. When closing capital is less than opening capital then result will be ____. 1
A. Profit B. Loss
C. No profit no loss D. Loss if there is no drawings
19. Which one of the following is the correct formula to calculate COGS? 1
A. Opening stock + purchase - direct expenses - closing stock.
B. Opening stock – purchase + direct expenses - closing stock.
C. Opening stock + purchase + direct expenses + closing stock.
D. Opening stock + purchase + direct expenses - closing stock.
(OR)
Opening and closing balance of Mr. X’s capital a/c is ₹ 6,00,000 and ₹ 10, 00,000 respectively.
Total profit of ₹ 5,00,000 earned, Drawings during the year were ₹ _________.
A. ₹ 50,000 B. ₹ 1,00,000 C. ₹ 4,00,000 D. ₹ 5,00,000
Std. 11 -3- ACCOUNTANCY

20. Krishan started his business on 1st April, 2020 with a Capital of ₹ 1,00,000. On 31st March,
2021, his assets were Cash ₹ 3,200, Stock ₹ 34,800, Debtors ₹ 31,000, and Plant ₹ 85,000.
He owed ₹ 12,000 to sundry creditors and ₹ 10,000 to his brother on that date. He withdrew
₹ 2,000 per month for his personal expenses. His profit during the year will be ₹ _______. 1
A. ₹ 48,800 B. ₹ 45,600 C. ₹ 56,000 D. ₹ 52,800
21. Rajesh purchased on 1st April, 2022, a machine for ₹ 6,000. On 1st October, 2022, he also
purchased another machine for ₹ 5,000. On 1st October, 2023, he sold the machine purchased
on 1st April, 2022 for ₹ 4,000. It was decided that Depreciation @ 10% p.a. was to be written
off every year under Diminishing Balance Method. Assuming the accounts were closed on 31st
March every year, show the Machinery Account for the years ended 31st March, 2023 and 2024. 3
22. On 1st April, 2024 the following were Ledger balances of M/s Ram & Co., Delhi:
Cash in Hand ₹ 300: Cash at Bank ₹ 7,000: Loan from Mahesh ₹ 1,000; Zahir (Dr) ₹ 800
Stock ₹ 4,000; Gobind (Cr.) ₹ 2,000; Sharma (Dr) ₹1,500; Rahul (Cr.) ₹ 900; Capital ₹ 9,700
Transactions during the month of April, 2024 were:
Date Transactions Amount
2024
April 2 Bought goods from Gobind, Delhi. 900
3 Sold goods to Sharma, Kanpur. 1,000
5 Bought goods from Rahul, Delhi. 1,200
8 Sold goods to Zahir, Kolkata. 500
15 Paid to Gobind by cheque on account. 1,500
18 Received a cheque from Sharma. 2,000
Allowed him discount 50
20 Sold goods to Sharma, Kanpur 800
20 Paid rent by cheque. 200
25 Sold goods to Zahir, Kolkata. 1,000
30 Paid salaries in cash. 300
Prepare Sharma’s Ledger Account.
(OR)
A Petty Cashier in a firm received ₹ 15,000 as the petty cash imprest on 4th June, 2024.
During the week, his expenses were as follows:
2024 June 4 Conveyance charges for Manager’s trip to the city. ₹ 500
June 4 Wages to casual labourers. ₹ 1,500
June 5 Bus fare to workmen sent to customers premises ₹ 200
June 5 Stationery purchased. ₹ 1,000
June 6 Sent documents to Head Office by registered post. ₹ 4,00
June 6 Postage stamps purchased. ₹ 1,000
June 7 Repair of printer. ₹ 400
June 7 Paid electricity bill ₹ 1,700
June 8 Wages paid to coolies for shifting furniture etc. ₹ 400
June 8 Taxi fare to Assistant Manager ₹ 500
June 8 Letters by registered post sent to different suppliers. ₹ 1,000
June 8 Locks purchased ₹ 800
June 8 Refreshments to customers ₹ 200
23. Difference between Accounting and Accountancy. 3
(OR)
Arjun started his business on 1st April 2023 with ₹ 2,50,000. He borrowed ₹ 50,000 from his
friend Sameer. During the year he introduced additional capital of ₹ 1,00,000 and withdrawn
₹ 25,000 from his business. On 31st March 2024 his total assets were ₹ 3,00,000. Estimate
his capital on 31st March 2024 and loss incurred during the financial year. 3
24. On 1st January, 2025, Naresh had an overdraft of ₹ 40,000 as shown by his Cash Book in the
bank column. Cheques amounting to ₹ 10,000 had been deposited by him but were not
collected by the bank by 1st January, 2025. He issued cheques of ₹ 7,000 which were not
presented to the bank for payment up to that day. There was also a debit in his Pass Book of
₹ 600 for interest and ₹ 500 for bank charges. Prepare a Bank Reconciliation Statement. 3
Std. 11 -4- ACCOUNTANCY

25. Prepare a Trial Balance from the following items: 3

Name of Accounts Amount (₹) Name of Accounts Amount (₹)
Capital 24,000 Building 12,000
Opening Stock 8,500 Returns Inward 1,900
Furniture 2,600 Returns Outward 350
Purchases 8,950 Trade Expenses 1,000
Cash 7,300 Discount Received 970
Carriage 300 Salary 3,000
Sales 22,500 Office Rent 2,270

26. Calculate Closing Stock from the following details: 3

Opening Stock ₹ 20,000
Purchases ₹ 70,000
Cash Sales ₹ 60,000
Credit Sales ₹ 40,000
Rate of Gross Profit on Cost 33.33%
27. From the following balances of Anand, prepare Trading Account, Profit and Loss Account,
and Balance Sheet as at 31st March, 2024: 4
Credit Balances: Amount Debit Balances (Contd.): Amount
Capital 3,60,000 Postage 2,730
Creditors 87,200 Bad Debts 2,870
Bills Payable 25,270 Interest 12,950
Sales 7,81,820 Insurance 4,170
Bad Debts Recovered 1,750 Machinery 1,00,000
Loan 1,20,000 Stock (Opening) 99,450
Debit Balances: Purchases 6,20,920
Debtors 38,850 Wages 43,000
Salaries 40,000 Building 2,37,800
Discount 10,000 Selling Expenses 1,750
Fixtures and Fittings 1,61,550

Additional Information:
Value of goods on hand (31st March, 2024) was ₹ 1,43,000.
28. From the following particulars, you are required to ascertain the bank balance as would appear
in the Cash Book of Ramesh as on 31st October, 2024: 4
i) Bank Pass Book showed an overdraft of ₹ 16,500 on 31st October 2024.
ii) Interest of ₹ 1,250 on overdraft up to 31st October, 2024 has been debited in the
Bank Pass Book but it has not been entered in the Cash Book.
iii) Bank charges debited in the Bank Pass Book amounted to ₹ 35.
iv) Cheques issued prior to 31st October, 2024 but not presented till that date,
amounted to ₹ 11,500.
v) Cheques paid into bank before 31st October, but not collected and credited up to
that date, were for ₹ 2,500.
vi) Interest on investment collected by the bankers and credited in the Bank Pass Book
amounted to ₹ 1,800.
29. Aditya a retailer, has not maintained proper books of account but it has been possible to
obtain the following details:
Particulars 2023 (₹) 2024 (₹)
Trade Creditors 6,270 5,890
Loan from Naresh 5,000 5,000
Stock 12,350 11,980
Cash in Hand 570 650
Shop Fittings 7,250 7,800
Trade Debtors 5,280 5,560
Bank Balance 3,990 4,130
Capital 18,170 ?

Prepare Statement of Profit or Loss, calculate net profit for this year and draft the Statement
of Affairs at the end of the year after noting that:
i) Shop Fittings are to be depreciated by ₹ 780.
ii) Aditya has drawn ₹ 100 per week for his own use.
iii) Included in the Trade Debtors is an irrecoverable balance of ₹ 270.
iv) Interest at 5% p.a. is due on the loan from Naresh but has not been paid for the year.
(OR)
Std. 11 -5- ACCOUNTANCY

From the following information relating to the business of Abhay who keeps books on
Single Entry System, ascertain the profit or loss for the year 2023-24:
Particulars 1st April, 1st April,
2023 (₹) 2024 (₹)
Machinery 8,000 8,000
Furniture 2,000 2,000
Stock 7,000 5,000
Sundry Debtors 4,000 4,500
Bank Balance 200 (Cr) 1,800 (Dr)
Sundry Creditors 5,000 3,500
Capital 15,800 ?
Abhay withdrew ₹ 4,100 during the year to meet his household expenses. He introduced
₹ 300 as fresh capital on 15th January, 2024. Machinery and Furniture are to be depreciated
at 10% and 5% p.a. respectively. 4
30. Pass Journal entries in the books of Puneet, Delhi for the following:
i) Sold goods to Bharat, Kaithal (Haryana) of ₹ 10,000 plus IGST @ 12% out of which
1/5th were returned by Bharat being defective.
ii) Purchased goods from Barun of Chandigarh of ₹ 10,000 plus IGST @ 12% and sold
them to Arun of Shimla (HP) at ₹ 22,400, including IGST @ 12%.
iii) Arun returned goods of ₹ 6,720, including IGST which were returned to Barun.
(OR)
The Trial Balance of M/s. Gupta & Sons shows a difference of ₹ 52,200. To prepare the Final
Account on 31st March, 2024, this difference is placed in a Suspense Account. Afterwards the
following errors were disclosed. Pass the necessary entries to rectify the and show the
Suspense Account.
i) Purchases Book total had been under casted by ₹ 20,000.
ii) A cheque received from Vasudev for ₹ 7,800 had been debited in the Cash Book but
not posted in Vasudev's Personal Account.
iii) Returns Outward Book had been over casted by ₹ 10,000.
iv) Goods returned by Yash Pal worth ₹ 15,000 have been entered in Returns
Outward Book. However, Yash Pal's Account is correctly posted. 6
31. From the books of Harish Traders following information as on 1st April, 2024 is extracted:
Plant and Machinery Account ₹ 25,00,000
Provision for Depreciation Account ₹ 5,80,000
Depreciation is charged on the plant at 20% p.a. by the Diminishing Balance Method.
A piece of machinery purchased on 1st April, 2022 for ₹ 5,00,000 was sold on 1st October, 2024
for ₹ 3,00,000. Prepare the Plant and Machinery Account, and Provision for Depreciation
Account for the year ended 31st March, 2025. Also, prepare Machinery Disposal Account.
(OR)
Bharat Stores purchased on 1st July, 2020 machinery costing ₹ 30,000. It further purchased
machinery on 1st January, 2021 costing ₹ 20,000 and on 1st October, 2021 costing ₹ 10,000.
On 1st April, 2022, one-third of the machinery installed on 1st July, 2020 became obsolete and
was sold for ₹ 3,000. The company follows financial year as accounting year. Show how the
Machinery Account would appear in the books of company if depreciation is charged 10% p.a.
on Written Down Value Method till 31st March, 2023. 6
32. Prepare Two-column Cash Book of Vinod from the following transactions:
2024 Oct. 1 Cash in Hand. ₹ 25,000
Oct. 1 Cash at Bank ₹ 75,000
Oct. 7 Bought goods against cheque. ₹ 15,000
Oct. 8 Bought goods. ₹ 5,000
Oct. 10 Honoured our own acceptance by cheque. ₹ 5,000
Oct. 14 Paid Miscellaneous expenses. ₹ 150
Oct. 18 Ramesh who owed ₹ 5,000 became bankrupt and paid us 50 paise in a rupee
Oct. 20 Received cash from Manohar ₹ 7,500 Allowed discount. ₹ 250
Oct. 23 Withdrew from bank. ₹ 4,000
Oct. 24 Paid to Ghanshyam& Co. ₹ 3,000, Received discount. ₹ 100
Oct. 25 Withdrew from bank for personal expenses. ₹ 3,000
Oct. 27 Sold goods. ₹ 11,000
Oct. 28 Received cheque for goods sold. ₹ 19,000
Oct. 29 Received part payment from Akhil of ₹ 5,000 and deposited ₹ 3,000 out of
it into bank. 6
Std. 11 -6- ACCOUNTANCY

33. Journalise the following transactions:

i) Shyam became insolvent. Compensation of 75 paise in a rupee was received from
his Official Receiver. He owed us ₹10,000.
ii) Received cash from Ramesh whose account was written off last year as bad
debt ₹ 5,000.
iii) Salaries due to staff ₹ 10,000.
iv) Placed an order with Rakesh for supply of goods of the list price of ₹ 1,00,000.
In this connection, Raman paid 10% of the list price as an advance by cheque.
v) Supplied goods costing ₹ 3,600 to Sanjay. Issued invoice at 20% above Cost less
10% Trade Discount.
vi) Paid cash Radhey for outstanding bill for printing ₹ 1,000. 6
34. The following is the trial Balance pf Ashok as on 31st March 2024.
Particulars Amount Particulars Amount
₹ ₹
Building 1,50,000 Capital 30,000
Purchases (Adjusted) 2,90,000 Sales 5,29,500
Salaries 5,000 Wages Outstanding (At the end) 8,000
Bad Debts 2,000 Provision for Depreciation on 12,000
Wages 10,000 Furniture 500
Rent 5,000 Apprentice Premium 20,000
Prepaid Rent (At the 3,000 Sundry Creditors
end) 5,000
Insurance 60,000
Furniture (At cost) 5,000
Drawings 25,000
Sundry Debtors 40,000
Closing Stock
6,00,000 6,00,000

Prepare Trading and Profit and Loss Account for the year ended 31st March, 2024 and
Balance sheet as on that date after making the following adjustments.
i) Salaries for the month of March, 2024 of ₹ 1,000 were unpaid which are to be provided.
Balance in the account included ₹ 800 paid in advance.
ii) Insurance is prepaid to the extent of ₹ 2,000.
iii) Depreciate Furniture by 10% on original cost and building by 5%.
iv) Stock of ₹ 1,500 was taken by Ashok for his personal use.
v) Make a Provision for Doubtful Debts equal to 10% of Sundry Debtors. 6

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