Sample paper Term-I (Session: 2024-25)

SUBJECT: Accountancy CLASS: XI

1 Which Accounting system is used by professionals? 1

(a) Single entry (b) Double entry (c) Any of these (d) None of these

2 Which of the following is the Revenue Expenditure? 1

(a) Wages paid for the purchase of Machinery (b) Wages paid for renovation of machinery
(c) Amount paid for installation of machinery (d) Amount paid for repair of machinery
OR
Which of the following is not a financial transaction?
(a) Purchase of goods for resale (b) Paid salaries and wages
(c) Teaching by mother to her son (d) Purchased a bike for personal use

3 Assertion: Capital is the amount invested by the proprietor. 1

Reason: Capital being that of the proprietor, is an internal liability.
(A) Both the Assertion and the Reason are correct and the Reason is the correct explanation of the Assertion.
(B) Our Assertion is true but the Reason is false.
(C) The statement of the Assertion is false but the Reason is true.
(D) Both the statements are false.

4 Differentiate between Cash Base Accounting and Accrual Base of Accounting, based on legal position. 1

5 Under the Cash Basis of Accounting, Expenses are recorded on being incurred. (True/False) 1
OR
Under the Accrual Basis of Accounting, only credit transactions are recorded. (True/False)

6 “Debit all expenses, credit all incomes” is the rule of: 1

(a) Personal Account (b) Real account (c) Nominal account (d) a and b both
OR
“Debit what comes in, credit what goes out” is the rule of:
(a) Personal Account (b) Real account (c) Nominal account (d) a and b both

7 Personal accounts are related to Personal Assets. (True/False) 1

8 Explain why the rules for recording debit and credit items are the same for capital and liability. 1

9 Which type of voucher is prepared for debit notes, credit notes and invoices or bills? 1
(a) Transfer vouchers (b) Credit vouchers (c) Cash vouchers (d) Debit vouchers.

10 What is a Petty Cash Book? Give advantages of petty cash book. 1

OR
Define contra entry with an example.

1
11 Complete the missing figure from the following Journal entries: 1
Ram’s A/c Dr …….
To ……………A/c ……….
To …………..A/c 200
(Being Cheque given in full settlement after 20% discount)
OR

Drawings A/c Dr. …………

To………….. A/c ………………
(Being Goods withdrawn Cost Rs 2,000 and Sales value Rs 2500)

12 Cash book is a principal book as well as the primary book. Explain the statement. 1

13 Assertion: The purchase of machinery is recorded on the debit side of the machine account. 1
Reason: The machine is an expense; due to this reason the machine account has been debited.
(A) Both the Assertion and the Reason are correct and the Reason is the correct explanation of the Assertion.
(B) Our Assertion is true but the Reason is false.
(C) The statement of the Assertion is false but the Reason is true.
(D) Both the statements are false.

14 Mention the subsidiary books in which the following transactions are recorded along with 1
the reason:
(i) Goods returned by debtors. (ii) Sales of goods for cash.

15 Goods sold to Naresh for Rs.15,000, for which the account is credited: 1
(a) Sales A/c (b) Cash A/c (c) Bank A/c (d) Naresh A/c.
OR
Goods returned to Shyam for Rs.2,500, which account will be debited:
(a) Return Inward A/c (b) Return Outward A/c (c) Carriage Outward A/c (d) Shyam A/c.

16 A ledger is also called as: 1

(a) Books of original entry (b) Principal book
(c) Books of final entry (d) Both (b) and (c).

17 Deposited Ankur’s cheque of Rs.10,000 into the bank and got dishonored, which of the following entry is 1
correct?
(a) Dr. Bank A/c and Cr. Ankur A/c (b) Cr. Cash A/c and Dr. Ankur A/c
(c) Dr. Ankur A/c and Cr. Bank A/c (d) Cr. Sales A/c and Dr. Ankur A/c.

18 The process of transferring the transactions from the journal to the ledger is called: 1
(a) Journalizing (b) Posting (c) Balancing (d) Costing.

19 What is IGST? 1
(a) Integrated Goods and Service Tax (b) Indian Goods and Service Tax
(c) Initial Goods and Service Tax (d) None of these

20 Taxes that are levied on any Intra-State purchase are. 1

(a) IGST (b) CGST and SGST (c) SGST (d) SGST
OR
GST is a consumption of goods and service tax based on
(a) Development (b) Dividend (c) Destiny (d) Destination

21 Differentiate between a Single-entry system and a Double-entry system. 3

2
22 From the given statement find the accounting principle and explain it: 3
(i) “Closing Stock is valued at lower of cost or realizable value”.
(ii) “The caliber or quality of the management is not disclosed in the balance sheet.”
OR
What do you mean by Accounting Principles? Explain any two features of Accounting Principles.

23 (a) Mention the nature of the following accounts (Assets, Expenses, Liabilities, Revenue, Capital) 2+1
(i) Bank Overdraft (ii) Rent Received (iii) Debtors (iv) Salary Paid

(b) Prepare cash account in T shape format from the following transactions:
I. Capital invested Rs 10,000
II. Goods purchased from X Rs 500
III. Paid to X Rs 4,000
IV. Rent paid Rs 1,000

24 Prepare vouchers for the following transactions. 3

I. June 15 Purchased goods from Ankita vide bill No.988 Rs.5500.
II. June 16 Sold goods for cash vide cash memo no. 123 Rs.25000.

25 (a) Differentiate between Sales Book & Sales Account. 1+2

(b) The following balances appeared in the books of Vijay General Store on 1-4-202
Assets: Cash Rs. 8,000, Bank Rs. 10,500, Debtors Rs. 25,000 (A Rs. 10,000, B Rs. 8,000 and C
Rs. 7,000), Stock Rs. 24,500, Furniture Rs. 12,000.
Liabilities: Creditors Rs. 22,000 (X Rs. 8,000, Y Rs. 5,000 and Z Rs. 9,000), Bank Loan Rs.
15,000.
Pass Journal Entry.

26 Pass entries in the books of Mr. Gopal assuming CGST @6% and SGST @6%.
3
(i) Gopal purchased goods for Rs 1,50,000 from outside the State and made payment by
cheque.
(ii) He sold goods for Rs 1,00,000 outside the State on Credit.
(iii) He sold goods for Rs 1,80,000 locally on credit.
(iv) Paid telephone bill for Rs 5,000 by cheque.
(v) He purchased an air-conditioner for his office for Rs 25,000 and paid the amount by
cheque.
(vi) Payment made of the balance amount of GST.
OR
Pass entries in the books of Sh. Gopi Chand of Kerala assuming CGST @9% and SGST @9%.

2024
April 01 Purchased goods for Rs 3,00,000 from Karunakaran of Chennai ( Tamil Nadu).
April 03 Purchased goods for Rs 50,000 from Ganeshan of Ernakulam(Kerala).
April 10 Sold goods costing Rs 80,000 to Naidu of Hyderabad (Telangana) at a profit of
25% on cost less trade discount 10%.
April 15 Sold goods at Kottayam (Kerala) costing Rs 2,50,000 at 60% profit less trade
discount 15% against cheque which was deposited into a bank.

3
 1+3
27 (a) Give one example of an Increase of assets and an Increase of Capital.
(b) Calculate total liability if:
Owner’s capital in the beginning is Rs.60,000; Creditors at the end is Rs.50,000; Revenue during the period
Rs.70,000; Expenses during the period Rs.65,000. Also, calculate the amount of closing capital.

28 From the following information prepare the correct Trial Balance- 4

Name of the account Dr. Cr.
Purchases 6,000 -
Reserve fund 2,000 -
Sales - 10,000
Purchase return 100 -
Sales return - 200
Opening stock 3,000 -
Closing stock - 4,000
Expenses - 2,000
Outstanding expenses 200 -
Bank balance 500 -
Asset 5,000 -
Debtors - 8,000
Creditors - 3,000
OR
Prepare a trial balance from the following information
Particulars Rs. Particulars Rs.
Creditors 19,000 Bad debts 100
Building 15,000 Loan from Ram 2,500
Salary 1,025 Sundry debtors 9,500
Loose tools 1,000 Investments 6,500
Cash at bank 16,200 Provision for Bad Debts 1,600
Sundry expenses 1,990 Rent and rates 850
Bank interest (Cr.) 75 Furniture 3,000
Purchases 1,57,000 Stock( 1.4.2024) 27,350
Wages 10,000 Capital ?
Carriage inwards 1,120 Discount allowed 630
Sales 1,85,000 Dividends received 535
Motor Van 12,500 Drawings 2,000
Cash in hand 335 Bills Payable 10,000

29 Rohan a cashier of Raturi & sons appointed Kavye as a petty cashier and he set Rs 5,000 as the imprest 4
amount for day-to-day small expenses of business. The following are the transactions for January:
2023
Jan. 1 Cash in hand Rs.1,300
Paid for carriage Rs.200
Jan. 4 Paid for printing Rs. 1,000
Paid for refreshment of customers Rs.500
Jan. 10 Paid for stamps Rs.100
Paid for rickshaw charges Rs.400
Paid for cleaning Rs.1,500
Jan. 15 Paid for stationery Rs.400
Paid for freight Rs.200
Jan 20 Paid for envelopes Rs.600
4
 Based on the above information, answer the following questions:
(i) Which type of cashbook is prepared by Kavye?
(a) Single Column Cash Book (b) Two Column Cash Book
(c) Three Column Cash Book (d) Petty Cash Book
(ii) What is the total amount of expenses in December 2022?
(a) Rs 5,000 (b) Rs 1,300 (c) Rs 3,700 (d) None of these
(iii) What is the amount given by Rohan for expenses at the beginning of February?
(a) Rs 5,000 (b) Rs 100 (c) Rs 1,300 (d) Rs 4,900
(iv) What is the net balance of cash at the end of January?
(a) Rs 5,000 (b) Rs 100 (c) Rs 1,300 (d) Rs 4,900

30 Prepare the accounting equations from the following transactions: 6

(i) Ajay commenced business with cash Rs 40,000 & goods Rs 20,000.
(ii) Sold half the goods at a profit of 25% on the cost to Ram at 10% trade discount.
(iii)Bought goods from Rakesh Rs 25,000 and paid Rs 9,000 in cash on the date of purchase
(iv)Paid insurance premium Rs 1,000 of which Rs 200 is prepaid.
(v) Commission received Rs 20,000 out of which 1/5 is received as advance.
(vi) Goods cost Rs 5,000 lost by fire and the insurance company accepts a claim amount of Rs 2,000.

31 The following transactions took place during April: 6

Ap 7 Sold goods of list price Rs. 15,000 at a trade discount of 10% to A.
Ap 15 Got a cheque from A for Rs. 13,000 and banked in full settlement of his account.
Ap 21 Interest allowed by bank 300
Ap 25 Ram who owed us Rs. 1,000 met with an accident and nothing could be recovered.
Ap 26 Paid insurance premium of shop Rs. 500 and life insurance Rs. 800.
Ap30 Goods worth 1500 & cash amounting to Rs 500 were given as charity.
Enter the above transactions in the Journal.
OR
Journalise the following transactions in the books of N.K. and prepare Cash Account and M K Bross A/c:
Mar.1 Started business with cash Rs.25,000, building Rs.10,000 and furniture Rs.30,000
Mar.2 Withdrawn from bank Rs 20,000
Mar.3 Bought goods from M.K.Bros. on credit at 10% trade discount Rs 7,000
Mar.4 Sold goods to Goyal and Co. on credit Rs 6,000
Mar.5 Received from Goyal Rs 5800 in full settlement of his a/c
Mar.7 Received from salesman for goods Rs 3,000 sold by him after deducting commission Rs.150
Mar.9 Drawn a cheque for Rs.800 for personal use
Mar.31 Interest on capital charged @10% p.a
Mar.31 Salaries for the month of February remain unpaid Rs 3220
Mar.31 Paid to M.K.Bros. in full settlement Rs 6,000

32 Enter the following transactions in the cash book with cash and bank: 6
May 2009 1 Cash in hand Rs 8,000 Bank overdraft Rs 25,000
3 Sold goods to Ram against cheque and it was paid into bank 45,000
5 Sold goods against cheque which was banked 4,500
7 Bought goods for cash 5,000
9 Received cheque from Amar and paid into bank 7,800
Discount allowed 200
11 Bought goods from Ram on credit 16000
13 Received a cheque from Mohan & 15000
allowed discount. 1000
15 Endorsed cheque received from Mohan to Ram in full settlement of his account.
17 Bought furniture & 4000
5
 paid carriage on furniture 200

18 Goods sold for cash 6000

19 Cheque deposited by Gopal into our account. 3000
21 paid electricity Rs. 1000, charity Rs 500 & stationery Rs.400
23 banks charged interest on overdrafts 600
25 withdrew from the bank for office use 5000
27 bought goods from Ram for cash 2000 & credit Rs. 5000.
30 Cycle purchased by the proprietor for his son. 1500

33 Record the following transactions in the Sales Book of Royal Furniture: 6

April 4 Sold to Fancy Furniture House, Delhi
50 chairs @ Rs. 250 each.
10 Tables @ Rs. 1,000 each.
Less: 10% Trade Discount
April 11Ganesh Furniture, Delhi bought goods from us :
5 Sofa sets @ Rs. 4,000 each.
30 Chairs @ Rs. 300 each.
10 Tables @ Rs. 500 each.
Less: Trade Discount 20%.
April 17 Sold old furniture to Arya Furniture for Rs. 2,500 in cash.
April 20 Sold to Rama Furniture House, Rohtak
30 Chairs @ Rs. 300 each
3 Sofa sets @ Rs. 5,000 each.
Less: Trade Discount 15%.
OR
Enter the following transactions in the Purchase Book of Bhuwan Furniture House, Delhi
Feb 3 Bought goods from Royal Furniture, Delhi on credit vide Invoice No. 453
20 Chairs @ Rs. 400 each
5 Dining Tables @ Rs. 2,500 each
Less: 10% Trade Discount
Feb 9 Purchased from Laxmi Furniture, Rohtak
5 Sofa set @ Rs. 5,000 each
5 Centre Tab les @ Rs. 1,000 each.
Less: 15% Trade Discount.
Feb 15 Bought goods from Reliant Furniture, Jaipur for cash
20 Chairs @ Rs. 250 each
10 Tables @ Rs. 1,000 each
Less: Trade Discount 20%.
Feb 21 Purchased delivery van for Rs. 1,50,000 from Mahindra & Mahindra on 2-month credit.
Feb 25 Bought goods from Daisy Furniture House, Rohtak
3 Sofa sets @ Rs. 5,000 each.
1 Almirahs @ Rs. 20,000 each.

34 Pass Journal Entries in the books of Ram Narain: 6

(i) Purchased goods from Vijay of ₹ 40,000 on a 10% Trade Discount and 5% Cash Discount. Half of the
amount was paid at the time of purchase.
(ii) Sold goods to Anil for ₹ 20,000, allowed him 10% Trade Discount and 10% Cash Discount. Received
half of the amount by cash and balances half by cheque within the specified time.
(iii) Sold goods to Ajay for ₹ 50,000 allowing 5% Cash Discount and 10% Trade Discount. Half of the
amount was received by cash within the specified time. Discount. Half of the amount was received by cheque
after a specified time.