J.J.PUBLIC SCHOOL ANNUAL EXAMINATION 2012 CLASS : XI SUBJECT : ACCOUNTANCY Time : 3hrs General Instructions : 1.

All questions are compulsory. 2. Questions carrying 1 mark should be written in one sentence. 3. Questions carrying 3 marks should be written in 30-35 words. 4. Questions carrying 4 marks should be written in 60-70 words. 5. Questions carrying 5 marks should be written in 100-150 words. 6. Questions carrying 6 marks should be written in 180-200 words. 7. No calculator is allowed. M.M 100

Q.1 What are Debtors ? Q.2 Define Accounting. Q.3 Explain the term Trial Balance . Q.4 What do you mean by Accounting Standard ? Q.5 What is the characteristic of Double Entry System ? Q.6 Give one example of Revenue reserve and one example of capital reserve . Q.7 What is Depreciation ? Q.8 Explain the term Bills ? Q.9 What are outstanding expenses ? Give two examples . Q.10 What is meant by Suspence account ? When it is opened ? Q.11 Make Journal Entries of the following . a. Started business with Rs. 10000. b. Purchased goods from Ram worth Rs. 1000 at 10% trade discount . c. Naresh purchased goods from us worth Rs. 1000 at 5% trade discount . d. Goods returned by Naresh worth Rs. 200 . Q.12 What do you mean by asset ? Explain its various types . Q.13 Prepare a Bank Reconciliation Statement from the following particulars as on 31st mar 2009 . 1. Debit balance as per cash book Rs.2000 2. Cheques issued but not presented for payment 160 3. Cheques deposited but not credited 1400 4. Amount directly deposited by a customer 1060 5. Bank charges debited by Bank 20 Q.14 Distinguish between Cash discount and Trade discount .

Q.15 Prepare profit and loss account from the following : Salaries Rs.3500 postage Rs.50 Stationary 450 Repairs 400 Depreciation 550 Int. on loan 350 Commission 600 Dividend received 900 Discount 250 Misc. Income 1250 Godown rent 700 Gross profit 25000 Q.16 What do you understand by Bills of Exchange ? what are the advantages of Bills of Exchange . Q.17 Enter the following transactions in double column cash book of M/S Ambica Traders for November 2008. 01 Commenced business with cash Rs.50000 03 Opened bank account with ICICI 30000 05 10000 10 5000 15 7000 18 8000 20 22 500 25 2000 30 Paid rent by cheque 1000 Q.18 State the need for the preparation of Bank Reconciliation Statement ? Q.19 X Ltd purchased a machinery on 1st January ,1994 for Rs.55000 and spent Rs. 3000 on its cartage and Rs. 2000 on its erection . X Ltd writes off depreciation at the rate of 10% on original cost . The account are closed every year 0n 31st December . Show the Machinery Account for first four years. Q.20 Give Journal Entries : (1) Opening balance are cash Rs. 5000; Bank balance Rs.2000; Furniture Rs. 1500; Stock Rs. 7500; Debtors Rs. 2000 and Creditors Rs. 1800. (2) Purchased goods for cash for Rs. 2000 at 10% trade discount. (3) Sold goods to Bharat worth Rs. 1000 at 5% trade discount. (4) Goods worth Rs.200 were returned by Bharat. (5) Cash received from Bharat Rs. 750 in full settlement of his account. (6) Goods purchased from Aman Rs. 500. Cash withdraw for personal use Rohans cheque deposited into bank Paid cartage by cheque Cash sales Sales goods on credit from Rohan and received cheque Purchased office machine for cash Purchased goods for cash

(7) Cash paid to Aman Rs. 480 and discount received Rs. 20. (8) Purchased goods for cash worth Rs. 500 at 10% trade discount. Q.21 Distinguish between Straight Line Method and Diminishing Balance Method of depreciation. Q.22 Enter the following transaction in the Purchase Return Book . Jan. 10 2007 Returned 20 copies of Commerce by prof. Sharma @ Rs. 125 each to M/S Rama Bhandar. Subject to 20% trade discount. Jan.25 2007 25 copies of Income Tax , by prof. Bhatt @ Rs. 140 each returned to Rattan Book Depot, Kurukshetra, because of old edition. Jan 28 2007 Allowance claimed from Bharat Book Depot, Kurukshetra on account of mistake in the invoice Rs. 1000. Q.23 Prepare a petty cash book from the following transactions May, 2009 1 2 3 6 10 14 20 22 28 30 Rs. P. cash received from head cashier paid for postage paid for telegram Refreshment expenses Bus fare Refreshment expenses Telegram Postage Rickshaw Bus fare 50.00 2.25 3.50 2.50 2.00 5.00 5.25 3.50 3.00 2.50

Q.24 Prepare a Bank Reconciliation statement from the following particulars : (1) Bank balance as on 30.6.2010 as per cash book is Rs. 3200 (2) Cheques issued but not presented for payment Rs. 1780 (3) Cheques deposited into bank but not yet credited Rs. 860 (4) Dividend collected by bank Rs. 100 (5) Bank charges Rs. 20 (6) Payment side of the cash book has been understand by Rs. 100 Q.25 Explain the meaning of Business Entity and Going Concern concepts Q.26 Sunder purchased a second hand machine for Rs. 50000 on 1st January,1993 and immediately spent Rs.10000 on its overhauling. In the same year on 1st July additional machinery was purchased for Rs. 20000, the expenses of installation amounted to Rs. 5000. On 1st July 1995, the machinery purchased on 1st Jan.1993 was sold for Rs.50000. Depreciation is provided each year on 31st December on the original cost at 10% p.a. Show how the machinery account would appear in the books of Sunder from 1993 to 1995. Q.27 On 1st April ,2003 a businessman purchased furniture for Rs. 38000 and spent Rs. 2000 on its installation. On 1st July 2004 he purchased additional furniture of Rs. 10000. On 1st July 2005 the furniture purchased on 1st April 2003 was sold Rs. 25000. The businessman write-off depreciation every year on 31st December @ 10% p.a. on diminishing balance method. Prepare Furniture Account from 1st April 2003 to 31st December 2005.

Q.28 What are the different type of errors ? Explain with example. Q.29 Prepare Trading and Profit & Loss A/c for the year ending 31st Dec,2008 and Balance Sheet as on that date : Debit Balance Rs. Credit Balance Rs. Salaries 475 Sales 50090 Rent 225 Creditors 6634 General Exp 638 Commission 5000 Wages 1015 Bills payable 10980 Carriage 619 Purchase Returns 620 Discount 712 Capital 22000 Debtors 10000 Machinery 15000 Building 20750 Opening Stock 2775 Purchases 35000 Gas and water 5775 Sales Returns 640 Cash in Hand 780 Cash at Bank 920 Total 95324 995324 st Closing stock on 31 Dec.2008 was valued at Rs. 6570. OR What do you understand by Final Accounts ? What is the purpose of their preparation ? Q.30 From the following Trail Balance and Adjustment of M/S Sumit , prepare Trading and P&L A/c for the year ended 31st Dec. 2008. and Balance Sheet as on that date: Debit Balance Rs. Credit Balance Rs. Debtors 32400 commission 5200 Stock 22000 sales 140000 Cash 135 bills payable 7500 Bank 1145 purchase return 1130 Plant 17500 capital 79500 Trade exp 1075 creditors 10650 Sales return 5500 Salaries 2225

Carriage outwards Rent Insurance prem. Purchase Discount Premises

300 2100 4000 120000 1100 34500

The stock on 31st Dec.2008 was Rs. 12450. Rent was unpaid to the extent of Rs. 85 and Rs. 150 were outstanding for trade expenses, Rs. 400 are to be written off as bad debts out of the above debtors ; and 5% is to be provided for doubtful debts. Provide 2% for discount on debtors. Depreciate plant by 10% and premises by 2%. OR What is the need of provision for bad and doubtful debts ? How is it provided for ? How is it treated in final accounts ?