NBSE Class 11 Question Paper 2022 Accountancy

Total number of printed pages:5 NB/XI/ACC/1
2022
ACCOUNTANCY

Full marks : 80 Time : 3 hours

General instructions:
i) Approximately 15 minutes is allotted to read the question paper and revise the
answers.
ii) The question paper consists of 17 questions. All questions are compulsory.
iii) Marks are indicated against each question.
iv) Internal choice has been provided in some questions.
N.B: Check to ensure that all pages of the question paper is complete as indicated on the top
left side.

1. What is a business transaction? 1

2. State the purpose of Credit Vouchers. 1

3. What is the nature of GST? 1

4. When is Balance Sheet prepared? 1

5. Name any two intangible fixed assets. 1

6. Explain three criteria on which GAAP depends upon. 3

7. Write any three points of differences between Accrual Basis of Accounting
and Cash Basis of Accounting. 3

8. Pass the necessary journal entries to rectify the following errors: 3
a) The payment side of bank column in cash book has been
short-totaled by 5,000.
b) A sum of 1,000 paid towards cost of a second-hand typewriter
purchased has been debited to repairs A/C.
c) Sale of old furniture for 2,000 was treated as sale of goods.

9. Explain any three subsidiary books. 3

10. Cash Sales 29,000, Credits Sales 31,000, Cost of goods sold 52,000,
Expenses on purchases 3,000, Expenses on sales 6,700. Find out Gross
Profit and Net Profit. 3

11. a. State six steps involved in an Accounting Cycle. 6
Or
b. Explain the advantages and arguments of setting Accounting Standards.

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12. Answer any two (2) from the following questions: 2x6=12
a. Explain three advantages and three limitations of Journal.
b. Prepare a two-column Cash Book from the following transactions of Mr.Robert.
Date Particulars
2021
Dec.1 Cash in hand 4,000
Dec.6 Cash purchases 2,000
Dec.10 Wages paid 40
Dec.11 Cash Sales 6,000
Dec.12 Cash received from Suresh 1,980
Allowed him discount 20
Dec.19 Cash paid to John 2,470
Discount received 30
Dec.27 Cash paid to Mary 400
Dec.28 Purchased goods for cash 2,070
c. A Limited provides you the following information:
i) The balance as per the Cash Book was 20
ii) Cheques deposited but not yet collected by bank 900
iii) Cheques issued but not yet presented for payment 1,500
iv) Bank charges debited in Pass Book only 120
v) Interest allowed in Pass Book only 60
vi) Insurance premium paid directly by bank under standing advice 300.
vii) Bills receivables directly collected by bank 1,200
Prepare a Bank Reconciliation Statement as at 31.03.2021

13. a. Write any six points of differences between a Bill of Exchange and a
Promissory Note.
Or 6
st
b. On 1 January, X sold goods worth 50,000 to Y and drew a bill on Y at
three months for the amount. Y accepted the bill and returned it to X. The
bill is duly honoured at maturity. Pass the entries in the books of X and Y,
if X retained the bill till the due date.

14. a. Explain any six areas where a computerized system can be used.
Or 6
b. Explain six advantages of pre-packaged accounting software.

15. a. X & Co. had bought machinery for 2,00,000 including a boiler worth
20,000. The machinery account had been credited for depreciation on the
reducing instalment system for the past four years at the rate of 10% per annum
In the beginning of the fifth year, the boiler became useless on account of
damaged to some of its vital parts and the damaged boiler is sold for 4,000.
Write up the machinery account for five years. 10
Or

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b. Define “Depletion” and “Amortisation’. Explain any four causes of depreciation
and four needs for providing depreciation. (2+4+4= 10)

16. a. On 31st March 2020, the following trial balance was extracted from the books
of Mohan:
Particulars Dr.(` `) Cr.(` )
Capital & Drawings 5,000 30,000
Debtors and Creditors 20,000 10,000
Loan - 9,500
Interest on loan 300 -
Cash 2,000 -
Stock(1-4-2019) 6,800 -
Provision for doubtful debts - 700
Motor Vehicles 10,000 -
Bank 3,500 -
Land and Building 12,000 -
Bad debts 500 -
Purchases and Sales 66,000 1,10,000
Returns 8,000 1,500
Carriage Outwards 2,500 -
Carriage Inwards 3,000 -
Salaries 9,000 -
Rent and Insurance 3,000 -
Advertising 3,500 -
Discount - 500
General Expenses 3,400 -
Bills Receivable & Bills
Payable 6,000 2,000
Rent received - 300
Total 1,64,500 1,64,500

Prepare Trading and Profits & Loss Account for the year ended on 31st March,
2020 and Balance Sheet as on that date after making adjustments for the
following:
i. Depreciate Land and Building at 2½% per annum and Motor Vehicles at 20%
per annum.
ii. Salaries outstanding 200.
iii. Prepare Insurance 200.
iv. Provision for doubtful debts is to be maintained at 5% on Sundry Debtors.
v. Stock-in-hand on 31st March, 2020 was valued at 7,000

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Or 10

b. From the following details, prepare Trading and Profit & Loss Account for the
year ending 31st March, 2020 and Balance Sheet as on that date.

Particulars Particulars
Land & Building 70,000 Cash at bank 7,000
Plant & Machinery 60,000 Cash in hand 1,000
Loose Tools 10,000 Debtors 80,000
Bills Receivable 15,000 Bad debts 4,000
Opening stock 50,000 Furniture 20,000
Purchases 1,40,000 Advertising 8,000
Wages 40,000 Sales Returns 15,000
Carriage 5,000 Sales 3,00,000
Salaries 25,000 Purchase Returns 12,000
Rent & Taxes 5,000 Capital 1,50,000
Discount allowed 4,000 Creditors 97,000

Closing Stock 71,000, Depreciate Plant & Machinery at 10% per annum,
Loose Tools at 20% per annum, Furniture at 10% per annum and Land and
Building at 5% per annum. Make a provision for discount on debtors @ 2%
and a provision for doubtful debts at 5% on debtors, outstanding wages
were 2,000.

17. a. Mr.Tom keeps his books by single entry method. He supplies you the following
information relating to his business for the year 2020.
31.12.2019 31.12.2020
Particulars
Cash at bank 5,000 6,000
Cash in hand 5,700 4,800
Bank over draft 22,500 20,000
Stock 7,000 8,400
Office equipment 20,000 20,000
Sundry creditors 19,300 18,600
Sundry debtors 15,100 14,900
Bills receivable 21,200 20,400
Land & buildings 26,500 26,500
Furniture & fittings 2,300 2,300
Bills payable 31,000 29,000

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During the year, Tom introduced 2,000 as additional capital and
withdrew 1,000 as drawing.
Depreciation is to be calculated on Office Equipment at 2% and on Office
Furniture and Fittings at 10% per annum. Provide for doubtful debts at 5% on
Sundry Debtors. Ascertain the Profit or Loss for the year 2020.
Or 10
b. Mr. Mhabemo keeps his books of accounts by the Single Entry Method. His
position on 31st March 2020 and 31st March 2021, are as follows:-
31.3.2020 31.3.2021
Particulars
Cash in hand 3,000 2,000
Cash at bank 25,000 28,000
Debtors 18,000 25,000
Stock 29,000 31,000
Furniture 5,000 6,000
Machinery 5,000 5,000
Creditors 18,000 25,000
Expenses outstanding 1,500 -
Prepaid Insurance - 400
On 1st October 2020, Mr. Mhabemo introduced 5,000 as further capital
in the business and withdrew on the same date 2,000 for personal use.
Depreciation is to be calculated on machinery at 10% per annum. A
provision for doubtful debts is to be created on sundry debtors at 5%. Goods
taken for personal use amounted to 1,500. Also provide interest on capital at
10% per annum.
Prepare necessary statement showing the Profit or Loss made by him
during the year ending 31 March 2021.

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