Sample Paper – 2024-25

Accountancy
Class – XI
Time allowed: 3 Hours Max. Marks: 80
General Instructions
1. Question Paper is divided into two parts. Part – A (56 Marks) and Part – B (24
Marks)
2. Both parts are compulsory
3. All parts of the question should be attempted at one place.
4. Write down the question number clearly before attempting the question
5. 25% of the marks allotted to the question would be deducted for not using
correct format, narrations and working notes.
6. Nothing should be written on the Question paper
7. Scheme of choice
i. 1 Mark – 7 questions (2 from unit 1, 4 from unit 2 and 1 from unit 3)
ii. 3 Mark – 2 questions (1 from unit 1 and 1 from unit 2)
iii. 4 Mark – 1 question (1 from unit 2)
iv. 6 Mark – 2 questions (1 from unit 2 and 1 from unit 3)
Q.No. PART – A Mar
ks
1 IND-AS are issued by ______________ 1
a) Ministry of Commerce
b) Ministry of Finance
c) Reserve Bank of India
d) Institute of Chartered Accountants of India

2 If the supplier of goods and services and the place of supply are in two different states, which 1
of the following types of GST is levied?
a) IGST
b) SGST
c) CGST
d) Both CGST and SGST

3 Bank Reconciliation Statement is ____________ 1

a) An account
b) Subsidiary book
c) Bank column of the Cash book
d) A statement made to reconcile Cash book and Pass book Balances

4A Which of the following will not be recorded in the books of accounts: 1

a) Introduction of capital by the proprietor
b) Purchase of goods on credit
c) Death of manager of the enterprise
d) Withdrawal of goods by the proprietor

Or
4B Which of the following is not qualitative characteristic of accounting information? 1
a) Understandability
b) Cash flow statement
c) Relevance
d) Reliability

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5A In a financial year, Vinod had total sales of 7,40,000, out of which 5,60,000 were received 1
in cash. Total expenses paid by him were 2,70,000, out of which 30,000 belongs to next
year and 10,000 are still outstanding. Determine Vinod’s income for the year as per Cash
Basis of Accounting:
a) ` 2,90,000
b) ` 3,80,000
c) ` 3,90,000
d) ` 4,70,000

Or
5B Which of the following is not the advantage of Accrual basis of accounting: 1
a) It is more scientific
b) It shows a complete picture of the financial transactions of the business
c) It reflects true profit or loss during the accounting period and, therefore, has
wide acceptability.
d) It is a simple basis of accounting

6 Match the following: 1

Column 1 Column 2
A. Revenue expenditure 1. Commodity to bought and sold
B. Increase in asset and increase in 2. Capital introduced by the proprietor
liability 3. Purchase of machinery on credit
C. Goods means______ 4. Repair expenses
D. Increase in asset and increase in
owners’ capital

Options:
a) A1, B2, C3, D4
b) A4, B3, C1, D2
c) A2, B3, C4, D1
d) A2, B1, C3, D4

7 Identify the source document from the given picture 1

Options:
a) Cash memo
b) Pay-In slip
c) Invoice
d) Receipt

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8 The words ‘To Balance b/d’ and ‘By Balance b/d’ are recorded in the Particulars Column at the 1
time of posting of ________________
a) Compound entries
b) Adjusting entries
c) Opening entries
d) Closing entries

9 Debit means ___________ 1

a) An increase in asset
b) An increase in liability
c) An increase in Proprietors equity
d) Decrease in asset

10 Accrued commission is __________ 1

a) Liability
b) Asset
c) Expense
d) Income

11 Imprest amount `10,000. What will be the amount of reimbursement if the following expenses 1
were incurred by the petty cashier during the month.
Wages `2,900, refreshment `2,100, repairs `1,000, general expenses `800
a) `2,200
b) `6,800
c) `5,000
d) `6,000

12 A Assertion (A): Cash discount allowed is an expense and is shown separately in the books of 1
accounts
Reason (R): Cash discount is allowed on timely receipt of due amount and thus is an indirect
expense of the firm
Which of the following is correct?
a) Both A and R are correct and R is the correct explanation of A
b) Both A and R are correct 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

Or
12 B Assertion (A): Commission received is an income for the firm and thus has a credit balance 1
Reason (R): Commission receivable a/c is an asset a/c and thus has a credit balance.
Which of the following is correct?
a) Both A and R are correct and R is the correct explanation of A
b) Both A and R are correct 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

13 A A machinery which costs Rs. 2,00,000 is depreciated at 25% per year using the Written Down 1
Value Method. At the end of three years, it will have a net book value of
a) Rs. 1,50,000.
b) Rs. 84,375.
c) Rs. 1,12,500
d) Rs. 1,00,000.

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 Or
13 B The term amortisation is used to write off______________ 1
a) Fixed Assets.
b) Intangible Assets.
c) Tangible Assets.
d) Wasting Assets.

14 A Assertion (A): In case of Sales return, the firm receives a debit note 1
Reason (R): Because the customer is debiting firm’s a/c with the value of goods returned
Which of the following is correct?
a) Both A and R are correct and R is the correct explanation of A
b) Both A and R are correct 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

Or
14 B Paid to Jigyasa `11,500 in full settlement of `12,000 posting will be made in Jigyasa’s a/c_____ 1
a) `12,000 debit side
b) `12,000 on credit side
c) `11,500 on debit side
d) `11,500 on credit side

15 A Purchase of Office furniture for `5,000 was debited to the general expenses a/c. It is ________ 1
a) Error of Omission
b) Error of Commission
c) Error of Principle
d) Compensating Error

Or
15 B Sales Book is totalled as `50,000 instead of `5,00,000. It is ________ 1
a) Error of Omission
b) Error of Commission
c) Error of Principle
d) Compensating Error

16 A Mr. Nirbhay started business for buying and selling of Readymade garments with `8,00,000 as 3
initial investment. Out of this, he paid `4,00,000 for the purchase of garments and `50,000 for
furniture and `50,000 for computers, the remaining amount was deposited in the bank. He
sold some of the ladies and kids garments for `3,00,000 (Cash) and some garments for
`1,50,000 to Mr. Utsav
He bought men’s garments of `2,00,000 from Mr. Lakshay. Electricity bill `7,000 and
telephone bill `3,000 is paid. Nirbhay gifted men’s garments of `2,000 to his brother on his
birthday. He took out `5,000 for his domestic use from bank.
Calculate
1. Amount of Fixed assets
2. Identify the creditor and state the amount payable to him
3. Calculate ‘Expenses’
Or
16 B Mr. Nirbhay started business for buying and selling of Readymade garments with `8,00,000 as 3
initial investment. Out of this, he paid `4,00,000 for the purchase of garments and `50,000 for
furniture and `50,000 for computers, the remaining amount was deposited in the bank. He
sold some of the ladies and kids garments for `3,00,000 (Cash) and some garments for
`1,50,000 to Mr. Utsav

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 He bought men’s garments of `2,00,000 from Mr. Lakshay. Electricity bill `7,000 and
telephone bill `3,000 is paid. Nirbhay gifted men’s garments of `2,000 to his brother on his
birthday. He took out `5,000 for his domestic use from bank.
Calculate
1. Total ‘Purchases’
2. Identify the debtors and the amount receivable
3. Calculate ‘Drawings’

17 A Prepare a suspense account for the following errors : 3

(a) Credit purchases from Rohan `9,000 were posted to the debit of Gobind as `10,000.
(b) Goods returned to Rakesh `4,000 were posted to the credit of Naresh as `3,000.
(c) Cash sales `2,000 were posted to commission account as `200.

Or
17 B Rectify the following errors : 3
1. Credit sales to Gopal `10,000 were recorded in Purchases Book. However, Gopal’s
account was correctly debited.
2. A sum of `800 written off as depreciation on Machinery, were not posted to
Depreciation A/c.
3. Payment of `500 to Mohan and `600 to Sohan was made but Mohan was debited with
`600 and Sohan with `500.

18 Show the effect of the following transactions on the Accounting Equation of Nysha 3
1. The following balances appeared in the books of Ankur on 1/4/2024
Cash - `20,000, Bank `30,000, Stock `10,000, Sunil (Dr.) `15,000 and Shekhar (Cr.)
`15,000
2. Payment made through cheque in full settlement of account `14,800 to the creditor
3. Sale of goods on credit to Manoj costing `5,000 at a profit of 60%

19 Prepare the correct Trial Balance from the following trial balance in which there are certain 3
mistakes.
Books of Nandini
Trial Balance
As at 31/3/2024
Account Head Debit Balance Credit Balance
Adjusted Purchases 1,50,000
Closing Stock 40,000
Debtors 60,000
Creditors 30,000
Fixed assets 50,000
Opening Stock 60,000
Expenses 20,000
Sales 2,00,000
Capital 90,000
3,50,000 3,50,000

20 Identify the types of Reserves from the following: 3

1. Dividend equalization reserve
2. Reserve for meeting any unforeseen contingencies
3. Workmen compensation reserve
4. Gain on sale of Fixed assets
5. Reserve created by charging excessive depreciation
6. Profit/Gain earned on acquisition of another business/entity

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21 Identify and explain the Accounting Principles/Concepts/Conventions followed or violated in the 4
following situations:
1. Amar Ltd has a production unit of mobiles. It supplied mobiles to Sagar (a retailer) on credit
for `3,00,000. Sagar became insolvent and there is every chance of not recovering the
money in future. Amar Ltd provides for this loss in the books of accounts.
2. Sunil is running a stationery business under the name ‘Rainbow Stationers’. It invested
`50,000 as initial investment. It purchased stationery for `30,000 and deposited rest of
the money in bank. Sunil withdraws `10,000 for his domestic use and recorded it as
business expenses.

22 A Prepare Bank Reconciliation Statement of Ram as on January, 2024: 4

(i) Debit balance as per Bank Pass Book as on the date is ` 41,000.
(ii) Cheque of ` 15,600 were drawn on 27th January, 2024. Out of which cheques for ` 11,000
were encashed up to January, 2024
(iii) A cheque for ` 1,000 was returned dishonored by the bank and was debited in the pass
book only.
(iv) A Wrong debit of ` 800 has been given by the bank in the bank pass book.

Or
22 B From the following information provided by Shyam, Prepare Bank Reconciliation Statement as 4
on 30th November, 2023:
(i) Credit balance as per Bank Cash Book as on the date is ` 45,000.
(ii) Cheque amounted to ` 60,000 sent to bank for collection, which though entered in the cash
book have not credited by the bank.
(iii) Wrong credit for ` 10,000 was given by bank on 29th November and reversed it on 10th
December, 2023
(iv) A cheque for ` 7,500 drawn on his savings account has been shown as drawn on his
current account in Cash Book

23 On 1st April, 2021, Veera Ltd. purchased a machinery for Rs.2,50,000 and spent Rs.50,000 on 6
ଵ
its installation. On 1st July, 2023, rd of machinery purchased on 1st April, 2021 was sold for
ଷ
Rs. 15,000 and a new machinery at the cost of Rs.2,00,000 was purchased on the same date.
The company has adopted the method of providing depreciation @ 15% p.a. on straight line
method.
Show the machinery account, provision for depreciation account and machinery disposal
account for three years ended on 31st March, 2022 to 31st March, 2024.

24 Record the following transactions in the Cash book of ‘Dev Traders’ (Journal proper is also 6
required)
2024
July 1 – Cash in hand `31,200 and Overdraft at bank `7,400
July 2 – Purchased goods on credit from Garvit of list price `15,000 less TD 20% and CGST and
SGST @6% each
July 5 – Settled the account of Garvit by paying cash `13,000
July 7 – Cashed a cheque for `7,500
July 8 – Received from Anika on behalf of Bhavya `2,200
July 10 – Interest debited by bank `650
July 15 – Deposited with the bank the entire balance after retaining `5000 at office

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25 A Give the journal entries corresponding to the narration given below in the books of Siya : 6

Date Particulars L. Amount Amount

F. Dr. Cr.
2024 ` `
April 3 Dr.
To
To
(Goods of the list price of Rs.8,000 purchased at 20%
Trade discount and 5% Cash discount)
April 8 Dr.
To
ଵ
(Goods costing Rs. 15,000 sold at a profit of 33 % on
ଷ
cost)
April 10 Dr.
To
(Goods costing Rs.4,000 destroyed by fire)
April 16
(Plant purchased for Rs. 1,00,000 and installation
charges paid Rs.2,000)
April 20 Bank A/c Dr. 3,000
A/c Dr.
To
(40 paise per rupee received from the estate
of Mohan on his insolvency)
April 30 Dr.
To
To
(Salary paid Rs.40,000 and due Rs. 10,000)

Or
25 B From the following transactions prepare Sales Return Book of M/s Keshav & Co., Kolkata (West 6
Bengal) assuming CGST @ 9% and SGST @ 9% and post it into the Ledger (Sita Ram, Hind Oil
Co. and Gujarat Gas Co.) :—
2024
June 3 Goods returned by Sita Ram. Kolkata Rs.80,000. These goods were sold to him at
15% discount.
12 Defective goods returned by Hind Oil Co., Hyderabad (Telangana) for Rs.30,000.
26 Allowances claimed by Gujarat Gas Co., Ahmedabad on Account of Mistake in
invoice Rs.20,000.

Part - B
26 Arrange the following Assets in the order of ‘Liquidity’ 1
1. Debtors
2. Stock
3. Short term investment
4. Cash at Bank
Options:
a) 4,3,1,2
b) 1,2,3,4
c) 4,3,2,1
d) 3,4,1,2

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27 Calculate Sales form the following: 1
I. Gross Profit is 25% on Sales
II. Cost of Goods Sold is ` 3,00,000
Options
a) `2,25,000
b) `3,00,000
c) `3,75,000
d) `4,00,000

28 Single entry system is usually adopted by?

a) Small proprietary or partnership firms
b) Joint stock companies
c) Banks
d) Co-operative societies 1

29 Gross Profit = `50,000 1

Indirect expenses = `35,000
Direct expenses = `5,000
The Journal entry for Net Profit will be: (Choose the correct option)

S.No. Particulars L.F. Debit Credit

` `
a Profit & Loss a/c Dr 15,000
To Net Profit 15,000
b Net Profit Dr 10,000
To Capital a/c 10,000
c Profit & Loss a/c Dr 15,000
To Capital a/c 15,000
d Profit & Loss a/c Dr 10,000
To Capital a/c 10,000

30 A Differentiate between Double Entry System and Single Entry System on the basis of ‘Trial 1
Balance’

Or
30 B Differentiate between Double Entry System and Single Entry System on the basis of 1
‘Authenticity’

31 In a burglary at the godown of Tapan on the night of 14th July, 2024, part of the stock was
stolen. 3
From the following particulars, find out the estimated value of loss of stock by theft:
`
Stock on 1st April, 2024 60,000
Purchases from 1st April to 14th July, 2024 4,10,000
Sales from 1st April to 14th July, 2024 6,00,000
Stock remaining after burglary 12,000
The normal rate of gross profit for his business is 30% of selling price.

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32 Following is the extract from the Trial Balance of a firm as at 31st March, 2024:
TRIAL BALANCE 4
As at 31st March, 2024
Heads of Accounts L.F. Dr.(`) Cr. (`)
Sales 5,00,000
Opening Stock 30,000
Advertising expenses 5,000
Discount allowed 2,000
Loss by accident 3,000
Interest on long term debt 2,000
Commission received 4,500
Gain on sale of Land 10,000
Additional Information:
(i) Gross Profit = 25% of Cost of Goods sold
(ii) Closing Stock = `50,000
From the above information calculate the following:
1. Gross profit
2. Operating Profit
3. Net Profit

33 Anika does not keep her records in systematic manner. She gives you the following
information: 6
Particulars 1/4/23 31/3/24
` `
Cash in hand 8,000 35,000
Cash at Bank 15,000 25,000
Debtors 1,35,000 1,65,000
Stock in trade 3,52,000 3,45,000
Office equipment 50,000 50,000
Creditors 2,50,000 2,10,000
Furniture 40,000 40,000
You are given the following additional information:
¾ Anika withdrew `6,000 per month during the year
¾ She sold her personal investments of `30,000 at 105% and brought that money into
the business
¾ Write off depreciation on furniture and office equipment @10% p.a. each
Calculate the profit made during the year ended 31/3/24 using ‘Statement of Affairs’ Method.

34 A From the following balances taken from the books of Mehul, prepare Trading and Profit &
Loss a/c for the year ended 31/3/2024
Trial Balance as at 31/3/2024
Debit balances ` Credit balances `
Household expenses 20,000 Capital 5,00,000
Opening stock 45,000 Sales 8,10,000
Purchases 2,15,000 Provision for doubtful debts 12,000
Manufacturing wages 60,000 Commission received 8,000
Fuel and power 1,25,500 Bills payable 15,000
Salaries 1,32,000 Creditors 70,000
Bad debts 10,000 Interest on loan to Rishabh 9,000
Bills receivable 12,000 Manufacturing wages
Debtors 91,000 outstanding 25,000
Carriage inwards 9,500
Rent 44,000
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 Cash at Bank 30,000
Insurance 12,000
Salary paid in advance 2,000
Investments 1,00,000
Machinery 2,00,000
Furniture 1,00,000
10% Loan to Rishabh 2,00,000
Advertisement Expenses 35,000
Discount allowed 6,000
14,49,000 14,49,000
Adjustments:
I. Closing stock was valued at cost ` 1,40,000 (Market value ` 1,35,000) 6
II. Unexpired insurance ` 2,000
III. Rent for the month of March 2024 were still unpaid.
IV. Depreciate Machinery by 10% p.a. and Furniture by 20% p.a.
V. 1/4th of the commission received is related to 2024-25
Or
34 B From the following balances taken from the books of Ambika, prepare Profit & Loss a/c and
Balance Sheet for the year ended 31/3/2024
Trial Balance as at 31/3/2024
Debit balances ` Credit balances `
Machinery 40,000 Capital 2,00,000
Purchase 4,00,000 Discount Received 8,000
Debtors 4,00,000 Sales 8,42,000
Salaries (1/4/23 – 31/1/24) 60,000 Purchase Return 20,000
Wages 60,000 Creditors 2,30,000
Rent 80,000 Provision for D/D 12,000
Sales return 20,000 Provision for Depreciation
Bad Debts 24,000 on Machinery 4,000
Drawings 18,000
Printing and Stationery 16,000
Insurance 12,000
Opening Stock 1,00,000
Office Expenses 36,000
Cash at Bank 20,000
Furniture 30,000
13,16,000 13,16,000
Adjustments:
I. Gross Profit ` 4,22,000
II. Depreciate Machinery @10% p.a. Fixed instalment Method
III. Depreciate Furniture @20% p.a.
IV. Write off further bade debts `10,000 and create a provision for doubtful dets @10% 6
V. Goods given as charity ` 10,000
VI. Closing Stock ` 1,30,000 (Market value `1,50,000)

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