SAMPLE QUESTION PAPER 2

CLASS-XI
SUBJECT: Accountancy
Time:3 Hrs. MM:80

General Instructions:
(i) This question paper contains 34 questions. All questions are compulsory.
(ii) This question paper is divided into two parts, Part A and B.
(iii) Question 1 to 16 and 26 to 29 carries 1 mark each.
(iv) Questions 17 to 20, 30 and 31 carries 3 marks each.
(v) Questions from 21and 32, 33 carries 4 marks each.
(vi) Questions from 22 to 25 and 34 carries 6 marks each.
(vii) 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 mark .
1. which of the following is not a long term liability?
(a ) Creditors (b) term loan (c) Debentures (d) capital.
Or
A liability arises because of --------------transactions.
(a) cash (b) credit (c) both cash and credit (d) none of these.
2. A concept that a business enterprise will not be sold or liquidated in the near future is known as :
(a) Going concern (b) Economic Entity (c) Monetary Unit (d ) None of these.
3. Sundry creditors Account is a
(a) Revenue account (b) capital account (c) Liability account (d ) none of these.
4. Star Ltd; follows the written down value method of depreciating washing machine year after
year due to :
(a) Comparability (b) Convenience (c) Consistency (d) All of these.
Or
Goods sold when returned by the purchaser are termed as sales return or return outward . true or
false.
5. verifiable objective principle ensures that accounting is free from personal bias. True or false.
6. on the basis of the following two statements, identify the correct option out of the following :
(a) Assertion (A) and Reason (R) are correct but the Reason (R) is not the correct explanation of
Assertion(A).
(b) Assertion (A) and Reason (R) are correct but the Reason (R) is the correct explanation of
Assertion(A)
(c ) Assertion (A) is correct but Reason (R) is not correct.
(d) Assertion (A) is not correct but Reason (R) is the correct

Assertion (A): the difference in the balances as per cash book and pass book may arise due to time
gap in recording transactions.
Reason (R) : the factors causing time gap include cheques issued but not yet presented for payment
in the bank.
Based on the above statements , which of the above options is correct.
7. which of the following is not a fixed asset?
(a) Building (b) Land (c) Balance with bank (d) goodwill
Or
“An item should be regarded as material of there is a reason to believe that knowledge of it would
influence the decision of an informed investor.’ It refers to
(a) Materiality concept (b) conservatism concept
(c) going concern concept (d) matching concept.
8. cash book shows Rs.1000 as overdrawn. When bank statement is received,
It was identified that one of debtors has deposited Rs. 400 into the account and bank charges of
Rs.20 had been debited to the account. Bank statement balance is:
(a ) Rs. 1420 (Cr) (b) Rs. 620 (Dr) (c) Rs. 4300 (Cr) (d) Rs. 1700 (Dr)
9. which of the following is the example of Revenue reserve?
(a ) General reserve (b) Capital reserve (c) workmen compensation reserve (d) none of these
10. Rent payable is a liability. True / false.
11. Match List I with II and select the correct answer.
List I List II
A. compensating errors 1. Not recording a business transaction.
B. errors of omission 2. changing a revenue item to capital.
C. errors of principle 3. writing a debit item on the credit side and a credit item on the debit
side of equal amount.
D. error of commission 4. Posting a correct amount to a wrong account.

Select the correct answer using the codes given below:

A B C D A B C D
(a) 3 1 4 2 (b) 2 1 4 3
(b) 3 1 2 4 (d) 2 1 3 4

12. An asset was purchased for Rs. 5,00,000 and as per reducing balance method, 20%
depreciation is charged each year. What is the value of assets at the end of three years?
(a) Rs. 3,50, 000 (b) Rs. 2,56,000 (c) Rs. 4,00,000 (d) Rs. 3,20,000
Or
Exe co . which purchased 50 computers from HCL made payment immediately. As a result, HCL
gave it a discount of Rs10000. The discount received is called as-----------
(a) cash discount (b) trade discount (c) rebate (d) none of these.
13. Amount received or receivable against sale of goods is
(a) revenue receipt (b) capital receipt (c) both a and b (d) none of these.
14. On the basis of the following two statements, identify the correct option out of the following:
Assertion (A): Reserve is not a charge against profit
Reason (R) : Reserve is an appropriation of profit.
Based on the above statements, which of the above options is correct.
(a) Assertion (A) and Reason (R) are correct but the Reason (R) is not the correct explanation of
Assertion(A).
(b) Assertion (A) and Reason (R) are correct but the Reason (R) is the correct explanation of
Assertion(A)
(c) Assertion (A) is correct but Reason (R) is not correct.
(d) Assertion (A) is not correct but Reason (R) is the correct
15. A trial balance is
(a) a statement (b) a summary (c ) an account (d) none of these.
Or
When the goods and /or services or both are supplied from one state to another state it is termed as
----------
(a) Interstate supply (b) intra state supply (c) state supply (d) none of these
16. which of the following is not an expense?
 (a) Rent (b) salary (c ) furniture (d) stationary
17. Record the following transactions of M/s Kishore & sons, Delhi, in their sales book:
Sold to M/s Rahul Bros;
30 Shirts @ Rs. 400 each
20 Trousers @Rs 600 each
Less: Trade discount @10%
Sold old furniture to M/s Sethu &co; Chennai for Rs. 4,000.
Sold 50 shirts to M/s John &sons, Bombay @ Rs 400 each
Sold to M/s Mathur & Jain, Agra
100 shirts @ Rs 400 each
10 overcoats @Rs 1,000 each
Less: Trade discount @10%.
18. In the following Bank Reconciliation statement, determine the missing amounts:
Bank Reconciliation Statement as on 31st March ,2024
Particulars Plus Minus
Credit Balance as per pass book 30,000
(i) cheques of Rs 10000 issued but a cheque of Rs 6000, not yet presented for
payment. ? ?
(ii) cheque of Rs 25,000 deposited into bank but cheque of Rs13000 not credited
by bank ? ?
(iii) Interest credited by bank but not recorded in cash book 425
(iv) cheque deposited into bank but not entered into cash book
Debit balance as per cash book ? ?
43,000 43,000

19. Differentiate between Reserve and Provision on the basis of:

i. Nature ii. purpose iii. Presentation
Or
Hari & co, Delhi, sold goods to Anil &co Delhi of List Price Rs100000, less trade discount 20% ,
cash discount 2%.Anil &co paid the amount at the time of sale. Rate of CGST and SGST is
6%each. Calculate the Invoice value of this dealings.
20. Prepare a Trial Balance with the following information:
Rs.
Capital 5,00,000
Cash 1,80,000
Creditors 1,00,000
Sales 3,00,000
Stock 70,000
Debtors 6,00,000
Bank Loan 1,50,000
Purchases 2,00,000
Discount received 20,000
Freight outwards 12,000
Salaries 8,000
21. (a) Under which accounting principle, quality of manpower is not recorded in the books of
account? Explain.
 (b) Under which accounting concept asset is recorded at cost, even if the market price is more
or less? Justy. 2+2=4
Or
Explain any four external users of accounting information,
22. Record the following transactions in Double column cash book and balance the book on 31st
March,2024:
2024 Rs.
March 1 Cash in hand 12,750
Cash at Bank 72,400
March 4 Received from Arun cash Rs1,200 and a cheque for Rs3,200, allowed
discount Rs 400
March 7 Paid salary to staff by cheque 25,600
March 9 Withdrawn cash from bank for office use 21,900
March 12 Interest paid by bank on bank balance 1,200
March 16 Purchased furniture in cash 16,500
March 21 Paid to Mohan & co, by cheque , discount received Rs.100 10,900
March 24 Proprietor withdrew from office cash for his personal use 11,600
March 29 Sold goods to Manoj for cash 14,800
March 31 Deposited office cash in bank 21,200

23. Prepare Bank Reconciliation statement as on 31 st March ,2024 from the following information:
Bank statement showed credit, i.e. favourable balance of Rs9,214.
(i) on 29th March ,2024 bank credited Rs. 1,650 by error.
(ii) cheques totalling Rs. 4,500 issued on 29th March ,2024 were not cleared.
(iii) Life Insurance Premium of Rs 950, paid by a standing order was not recorded in the cash book
(iv) A cheque of Rs.600 received, deposited and credited by bank, was accounted as a receipt in the
cash column of the cash book
(v) other cheques for Rs8,500 were deposited on 27th March ,2024 but cheques for Rs.6000 were
collected by the bank on 31st March ,2024 and remaining on 2nd April ,2024.
24. A firm purchased on 1st April ,2021 a second –hand machinery for Rs. 36,000 and spent Rs
4,000 on its installation.
On 1st October in the same year, another machinery costing Rs. 20,000 was purchased. On 1 st
October 2023, machinery bought on 1st April ,2021 was sold for Rs 12,000 and a new machine was
purchased for Rs 64,000 on the same date. Depreciation is provided annually on 31 st March @10%
p.a. on the written down value method. Show Machinery account for 3 years ending on 31 st March
2024.
Or
You are given following balances as on 1st April ,2023:
Machinery a/c Rs. 5,00,000
Provision for depreciation Rs. 1,16,000.
Depreciation is charged on machinery @20% p.a. by the written down value method. Part of
machinery on 1st April ,2021 for Rs.1,00,000 was sold on 1st october ,2023, for Rs.60,000. Prepare
Machinery account and provision for depreciation account for the year ended 31 st March 2024,
prepare Machinery disposal account.
25.Rectify the following errors and also prepare suspense account.
(i) sales Book has been totalled Rs.8000 short.
(ii) Goods of Rs 1500 returned by shiv &co have not been recorded.
(iii) Goods purchased of Rs 2500 was posted to debit of the supplier, Ravi.
(iv) furniture purchased from Gunal of Rs10,000 has been entered in purchases book.
(v) cash received from Ankit Rs3500 has not been posted in his account.

PART - B
26.computers owned by a firm are
(a) tangible assets (b) Intangible assets (c) liquid assets (d) current assets
or
closing stock inside the trial balance is shown in
(a) balance sheet (b) trading account (c ) profit &loss account (d )none of these

27. Rs 5000 received from smith whose account was previously written off as bad debts should be
credited to :
(a) bad debts recovered a/c (b) smith’s a/c (c) cash account (d) none of these.
28. On the basis of the following two statements, identify the correct option out of the following:
(a) Assertion (A) and Reason (R) are correct but the Reason (R) is not the correct explanation of
Assertion(A).
(b) Assertion (A) and Reason (R) are correct but the Reason (R) is the correct explanation of
Assertion(A)
(c) Assertion (A) is correct but Reason (R) is not correct.
(d) Assertion (A) is not correct but Reason (R) is the correct
Assertion (A); Although the statement of affairs shows assets and liabilities, yet it is not a balance
sheet
Reason (R): values shown in statement of affairs are not strictly the balances drawn from the
accounts.
In the context of above two statements, which of the above option is correct?
29. when closing capital is greater than opening capital it means:
(a) profit (b) loss
(c) profit if there is no fresh capital introduced (d) no profit no loss.
30. from the following balances extracted from the books of M/s Raju bros. answer the following
questions.
Rs
Opening stock 25,000
Credit purchases 6,50,000
Cash purchases 4,00,000
Credit sales 10,00,000
Cash sales 6,00,000
Wages 1,00,000
Salaries 1,50,000
Closing stock 30,000
Sales return 50,000
Purchase return 10,000.
(i) what is the amount of cost of goods sold during the year?
(ii) what is the amount of net sales?
(iii) what is the amount of gross profit?
or
. state whether following capital or revenue expenditure?
i. custom duty paid on import of a machine.
ii. Rs.5000 spent on repainting the factory.
 iii. Repairs for Rs.2000 of machine.
iv. Rs.10000 paid for electricity bill.
v. annual insurance premium paid on factory building.
vi. Rs.20000 paid for the installation of a new machine.
31. Mr. Sunil started a business with a capital of Rs.500000. At the end of the year his position was:
Particulars Amount (Rs)
Cash in hand 15,000
Cash at bank 70,000
Sundry debtors 1,20,000
Stock 2,40,000
Furniture 75,000
Machinery 2,00,000
Sundry creditors on this date totalled Rs. 80,000. During the year he introduced a further capital of
Rs.150000 and withdrew for household expenses Rs90,000.
You are required to calculate profit or loss during the year.
32.Prepare the balance sheet of Guna as at 31st March ,2024 from the following information in the
order of permanence.
Rs.
Cash in hand 11,200
Sundry creditors 32,300
Sundry debtors 23,300
Machinery as on 1st April 2023, Rs 85,000, and depreciation provided for the year Rs 8,500,
furniture and fixtures as on 1st April 2023, Rs 21,000, and depreciation provided for the year Rs
2,100 closing stock Rs 15,400. Proprietor’s capital a/c Rs 90,000, drawings Rs 8,000, net profit as
per profit &loss a/c Rs 31000.
33. compute operating profit and net profit from the following:
Rs Rs
Gross profit 4,40,000 Interest on loans 22,000
Carriage outwards 4,800 Interest on investments 2,800
Advertising 12,000 Printing & Stationery 3,600
Salaries 1,78,000 Loss on sale of furniture 35,000
Rent 62,000 General expenses 1,400
Lighting 15,000 Donation 5,100
Insurance charges 2,400 Rent received 6,000
Bad debts 1,500 Loss by fire 20,000
Audit fees 2,000 Gain on sale of machine 50,000
34. Prepare Trading and Profit & Loss account and Balance Sheet from the following balances,
relating to the year ending 31st March,2024.

Particulars Rs Particulars Rs
Capital 2,45,000 Loan 78,800
Drawings 20,000 Sales 6,53,600
General expenses 47,400 Purchases 4,70,000
Building 1,10,000 Motor car 20,000
Machinery 93,400 Provision for doubtful debts 9,000
Stock on 1st April 2023 1,62,000 Commission (Cr.) 13,200
Insurance 13,150 Car expenses 18,000
Wages 72,000 Cash 800
 Debtors 62,800 Bank overdraft 33,000
Creditors 63,500 Charity 1,050
Bad debts 5,500

i. Stock as on 31st March ,2024 was valued at Rs 2,30,000

ii. Write off further Rs 1,800 as bad debts and maintain the provision for doubtful debts at 5%.
iii. Depreciate machinery at 10%
iv. Provide Rs 7,000 as outstanding interest on loan.

Or
Prepare Trading and Profit & Loss account and Balance Sheet from the following balances,
relating to the year ending 31st March,2024.

Rs Rs
Capital 10,00,000 Wages 5,00,000
Creditors 1,70,000 Bank 1,00,000
Returns outward 50,000 Repairs 5,000
Sales 16,40,000 Stock (1st April 2023) 2,00,000
Plant & Machinery 4,00,000 Rent 40,000
Sundry debtors 2,40,000 Manufacturing expenses 80,000
Drawings 1,00,000 Trade expenses 70,000
Purchases 10,50,000 Bad debts 20,000
Returns inward 30,000 Carriage 15,000
Fuel & power 10,000

Additional Information:
i. Closing stock was valued at Rs. 1,45,000
ii. Depreciate plant & Machinery by Rs. 40,000
iii. Create provision for doubtful debts at 5% on debtors.
iv. Rs. 4,000 is due for repairs.

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