THE NATIONAL HIGH SCHOOL

STD 11 (ENG MEDI)

SECOND TEST Marks : 50 Time: 2 Hr Date:
ACCOUNT
..
SECTION – A

Select the correct option from the following questions. (1 to 7) 07

1. What is the limitation of accounting?
A. Shows profitability B. Shows economic status C. Tax planning D. Stable value of money
2. Journal is a ………. Of accounting transactions.
A. original book B. main book C. closing book D. other book
3. When revenue expenses are paid in cash ……….
A. increase in asset – increase in liability B. decrease in asset – decrease in capital
C. increase in asset – decrease in liability D. decrease in asset – increase in liability
4. Which transactions are recorded in the journal proper?
A. Credit purchase of goods B. Credit sales of goods
C. Credit purchase-sales of an asset D. Goods returns
5. ………..is not advisable to create for business.
A. General reserve B. Provision C. Secret reserve D. Capital reserve
6. Fixed assets are depreciated based on the principle of ……… .
A. Materiality B. Mony measurement C. Accounting entity D. Going concern
7. Havala Mel is known by which name?
A. Utaro B. Saevaiya C. Rojmel D. Achal Mel

SECTION – B

Answer the following question in one sentence. (8 to 14) 07

8. What is cash transaction?
9. What is non – economic transaction?
10. What is reserve fund?
11. For what purpose ASB was set up?
12. What is ublek amount?
13. What is fanku marvu?
14. In preparation of finanicial statements and its audit, Indian companies and their auditors has to follow
whose provisions?
SECTION – C

Answer the Following as asked : (15 to 17) 12

15. Write journal entries for the following transactions:
16 – 1 – ‘24 Brought stock of rs 10,000 cash of rs 15,000, furniture of rs 5,000 and bank balance of rs
6,500 and commenced business.
18 – 1 – ’24 Goods of rs 30,000 purchased from Royal stores at 10% trade discount.
19 – 1 – ’24 Electronic weight machine purchased for rs 4,000.
20 – 1 – ’24 Withdrawn from bank rs 400 for house expense and rs 800 for office expenses.
16. Write necessary entries in the books of Shayam to rectify the following errors:
1. Rs 1,500 withdrawn from bank of personal use is left to be recorded.
2. Machine of Rs 5,600 purchased from Mahesh, which is recorded in purchase book.
3. Rs 500 paid to Kajal is recorded to Raj’s account by mistake.
4. Goods of Rs 700 sold to switoo is recorded in purchase book by mistake.
17. Rakesh sold goods of Rs 5,000 at 10% trade discount to Gopi. Gopi drew a bill for the necessary amount
for 2 months, which Gopi accepted and returned. Immediately, Rakesh discounted this bill with the bank
at discount of Rs 100. Gopi paid the amount of the bill on the maturity date. Pass necessary journal
entries in the books of both the parties. ( Note : Narration is not necessary.)

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 SCETION – D

Answer the Following as asked : (18 , 19) 12

18. Passbook of Gaurang showed a credit balance of Rs 10,000 on 31 – 3 – ’23, which does not agree with
the bank balance as per his cashbook. The following information is obtained by comparing the cashbook
and passbook. Prepare a bank reconciliation statement of Gaurang from this information:
1. Cheque of Rs 7,000 was drawn and recorded in cashbook but by mistake it was not handed over to a
creditor.
2. A cheque of Rs 12,000 is banked on Dt. 29 – 3 – ’23 for which credit is given by the bank on
Dt. 1 – 4 – ’23.
3. Bank has paid Rs 6,000 for insurance premium, for which no entry is passed in cashbook.
4. Rs 5,000 are deposited by a customer directly in bank, ehich is unrecorded in cashbook.
5. A cheque of Rs 5,100 which was deposited in bank is dishonoured and this information is received on
Dt. 1 – 4 – ’23.
19. In the books of Dhadhrate Corporation, on Dt. 1 – 4 – ’21, machine account shows balance of Rs 90,000.
This machine was purchased 5 years back. Till this date total amount of depreciation on this machine
was Rs 30,000. On Dt. 1 – 1 - ’23 second machine was purchased for Rs 18,000.
The second machine was not suitable and was sold on Dt. 31 – 12 – ’23 at profit of 10% on book
value. Company charges depreciation at 5%, every year under straight line method.
From the above information, prepare a machine account and depreciation account up to Dt. 31 – 3 –
’24 in the books of company.
SECTION – E

Answer the Following as asked : (20) 12

20. From the following trial balance and additional information of Abhishek as on 31 – 3 – ’21, prepare final
account:
Trial Balance of Abhishek as on 31 – 3 – ’21
Name of account Debit Credit
Balance (Rs) Balance (Rs)

Capital – Drawings 24,000 5,40,000

Opening stock 40,000 -
Purchase - Sales 3,00,000 5,00,000
Goods return 30,000 50,000
Salary 1,59,000 -
Stationery – Printing 5,000 -
Unpaid salary - 12,000
Prepaid insurance premium 2,000 -
Duty on import goods 15,000 -
Commission - 3,000
Debtors – Creditors 1,00,000 80,000
Buildings 2,00,000 -
Addition in building ( 31 – 12 – ’20 ) 50,000 -
Machinery 1,00,000 -
Vehicles 50,000 -
Bills 30,000 15,000
Dividend - 4,000
Investment in shares 40,000 -
Advertisement suspense account 15,000 -
Furniture 5,000 -
Electricity expense 40,000 -
Discount 5,000 6,000
Total 12,10,000 12,10,000

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Adjustments :
1. Closing stock is of Rs. 2,01,000 which is included stationery stock of Rs 1,000. Market value of
goods of Rs 20,000 out of which goods stock is less by 20%.
2. Unrecorded credit sales Rs 10,000.
3. Vehicles were purchased on 31 – 12 – ’20. Scrap value of vehicles is Rs Rs 10,000 and estimated
life is 5 years.
4. Calculate depreciation on building at 10% and rate of depreciation on machinery is 15%.

5. Calculatr interest on capital at 6%. Addition capital of Rs 1,00,000 was brought into business on
1 – 1 – ’21.
6. Expense incurred for advertisement campaign at the beginning of the year is transferred to
advertisement suspense account. This expense is to be written off in 5 years.
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