Class 11 Question Paper 2023 Accountancy

ANNUAL EXAMINATION

Question Paper
2023

NCERT BASED SYLLABUS
FOR CBSE AND STATE BOARD
FOLLOWING NCERT

ANNUAL EXAMINATION (2022-23)

Class - XI Subject – Accountancy
Time – 3 Hours Maximum Marks- 80

GENERAL INSTRUCTIONS:
1. There are 34 questions in the question paper. All questions are compulsory.
2. Question nos. 1 to 20 carry 1 mark each.
3. Question nos. 21 to 26 carry 3 marks each.
4. Question nos. 27 to 29 carry 4 marks each.
5. Question nos. 30 to 34 carry 6 marks each.

1. Which qualitative characteristics of accounting information is reflected when accounting
information is clearly presented
A. Reliability
B. Relevance
C. Comparability
D. Understand ability [1]
2. Which of the following is a Liability
A. Furniture
B. Rent Payable
C. Interest Received
D. Stock [1]
3. Assets except securities may be valued under IND-AS on
A. Fair value
B. Historical cost
C. Both fairy value and Historical cost
D. None of these [1]
4. Decrease in one liability may lead to
A. Decrease in an asset
B. Increase in another liability
C. Either A or B
D. None of these [1]
5. Debit means
A. an increase in asset
B. an increase in liability
C. an increase in proprietor equity

D. a decrease in asset [1]

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6. Which of the following accounts has a credit balance
A. carriage inward
B. discount received
C. carriage outward
D. discount allowed [1]
7. Bank account is a
A. personal account
B. real account
C. nominal account
D. none of these [1]
8. Sale of goods to Ram for cash is debited to
A. Ram
B. cash account
C. sales account
D. none of these [1]
9. Ledger is a book in which
A. real and nominal accounts are recorded
B. real and personal accounts are maintained
C. real personal and nominal accounts are maintained
D. personal and nominal accounts are maintained
10. What type of following accounts will have debit balance
A. personal account
B. real account
C. nominal account
D. all of the above [1]
11. Balance shown in the balance sheet is that of
A. cash book
B. bank pass book
C. adjusted cash book
D. none of these [1]
12. Bank reconciliation statement is started with
A. Bank balance of the cash book
B. cash balance of the cash book
C. Pass book balance
D. Bank balance of cash book or pass book balance [1]
13. Preparation of trial balance is
A. compulsory
B. optional
C. compulsory or optional

D. None of these [1]

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14. The preparation of trial balance helps in
A. assessing the financial position
B. locating errors of all types
C. preparation of Final accounts
D. none of these [1]
15. A provision is
A. an appropriation of profits
B. a change against profit
C. can be A or B
D. none of these [1]

16. Provision is a
A. specific reserve
B. general reserve
C. capital reserve
D. none of these [1]
17. Suspense account will give the
A. debit balance
B. credit balance
C. debit or credit balance as the case may be
D. none of these [1]
18. Errors not shown by trial balance are
A. errors of principal
B. compensating errors
C. errors of complete omission
D. all of these [1]
19. Capital expenditure and Revenue expenditure
A. are distinguished
B. are not distinguished
C. may or may not be distinguished
D. must be distinguished [1]
20 Computer purchased for resale is
A. capital expenditure
B. revenue expenditure
C. deferred revenue expenditure
D. none of these [1]
21. Explain:
A. Dual Aspect Concept
B. Business Entity Concept
C. Going Concern Concept [3]

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22. On 01-04-2021 Sohanstarted a business with a capital of Rs 500000 and a loan of Rs 250000
borrowed from a friend During the year 2021-22 he earned a profit of Rs. 250000 , introduced
an additional capital of Rs. 300000 and had withdraw RS 150000 for personal use On 31-03-
2022 the total assets were Rs.2000000
Calculate the amount of external liability on 31-03-2022 [3]

23. Calculate General Manager commission and Works Manager commission from the following
information and pass adjustment entries
Gross profit Rs. 300000 Indirect expenses Rs. 70000
Works manager commission 5% of gross profit
General Manager commission 10% of Net profit before changing manager commission. [3]

24. Trial Balance on 31st march 2022

Particular Amount (Rs.) Amount (Rs.)
Computer 100000 -
Provision for depreciation - 30000
Capital - 500000

Adjustment:-
(i) Depreciate computer by 20% p.a. on WDVM. Computer includes Rs. 50000 purchased on
31.03.2022
(ii) Capital includes Rs. 200000 introduced in 01.01.2022 Allowed interest capital @6% p.a.
How will you disclose the above information in final accounts for the ended 31.03.2022

25. Trial balance on 31st march 2022 [3]

particular Amount (Rs) Amount (Rs.)
Debtor 105000 ----
Cash at Bank 10000 ----
Creditors ------ 75000
Adjustment
(i) Further Bad Debts amounted to Rs. 5000
(ii) Make a provision for Bad and Doubtful Debts @ 10% of debtors
(iii) Bad Debts recovered Rs. 2000
How will you disclose the above information in final account for the year ended 31.03.2022
26. Pass adjustment entry [3]
(i) Salary paid in advance Rs. 10000
(ii) Outstanding wages Rs. 2000
(iii) Depreciation on machine Rs. 10000
(iv) Closing Stock Rs. 35000
(v) Goods loss by fire Rs 10000 and it was not insured

(vi) Inerest on drawing Rs 3000

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27. Rectify the follwing error [4]

(i) Credit sales to Arun Rs.7200 were recorded as Rs.7260
(ii) Goods returned from Deepika Rs. 1000 were recorded as Rs. 1600
(iii) Credit Sales to Arun Rs.7000 were recorded in purchae book
(iv) An amount of Rs.2500 spent for extension of machinery has been debited to wages account
(v) Rs. 1000 received from X has been credited to Y's A/C
(vi) Rs. 800 paid for Rent wrongly debited to Land Lord AC
(vii) Rs. 3000 paid to mohan for salary debited to his personal A/C
(viii) Rs 4000 the amount of sale of on old machine has been credited sales A/C

28. On 01.04.2018 XYZ Ltd. purchased a second hand machine for Rs. 150000. Rs 40000 paid for
repair of machine and 10000 paid for installation of machine on 01.01.2023 it was sold for Rs.
30000. Depreciation is provided @ 20% p.a. on Written Down Value method on 31st march
every year.
prepare machine Disposal Account on 01012023assuming that provision for depreciation
Account is maintained in the books. [4]

29. Prepare sales Book from the Following transuctions of Navketan Furniture House Ranchi

2023 jan 1 Sold to star Furniture Ranchi

150 chairs @ Rs 1800 each

36 tables @ Rs. 5000 each

Trade discount @20%

Jan 15 Sold goods to Vishal furniture House Gaya

10 Almirahs @ Rs. 11000 each

5 sofa sets @ Rs. 18000 each

Trade discount 20%

Jan 20 Sold to prakash Furniture Ranchi

100 chairs @ Rs 2000 each

100 tables @ Rs. 5000 each

Trade discount 20%

Jan20 Sold Moonlight Furniture Ranchi for cash

50chairs @Rs. 2100 each

50 tables @Rs. 4200 each

Trade discount 25% [4]

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30. Pass journal entries

(i) Good sold for cash Rs. 1000 cash discount allowed @10%
(ii) Good purchased for cash Rs. 5000, cash discount received @5%
(iii) Salary paid Rs. 27000 after deducting TDS@10%
(iv) Cash received from debters Rs. 13500, discount allowed to him @10%
(v) Cash paid to creditors Rs. 5400, discount received from him @10%
(vi) Good loss by fire Rs. 5000, insurance company admitted the claim Rs. 4500in full
sattelment
(vii) Good sold on credit Rs. 7000
(viii) Goods purchased on credit Rs. 10000
(ix) Rent paid in advance Rs 20000
(x) Goods given away as sample Rs.500
(xi) Goods given away as charity Rs. 1000
(xii) Bad Debts recovered Rs.1000 [6]
31. Prepare Bank Reconciliation Statement on 31.03.2022 from the following information :-
(i) Overdraft balance as per Cash Book Rs. 21000
(ii) Cheque issued but not presented for payment Rs. 10000
(iii) Cheque deposited but not collected by bank Rs. 5000
(iv) Bank charged Rs.500 not recorded in cash book
(v) Interest on overdraft not recorded in cash book Rs. 1000
(vi) A bill of Rs. 1000 discounted with bank at Rs. 950, but full amount recored in Bank
coloumn of cash book
(vii) Interest on investment Rs. 2000 not recored in cash book
(viii) Insurance premium paid by bank Rs. 700, not recorded in cash Book
(ix) Dr. side of cash Book overcast by Rs.100
(x) A cheque of 750 deposited into bank, dishunoused not recorded in Cash Book. [6]

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32. Prepare Double coloumn Cash Book (Cash with Bank coloumn) From the following
information:-

2023 Jan1 Cash in hand Rs. 10000, Cash at Bank Rs. 20000

Jan3 Goods sold for cash Rs. 5000 Cash discount allowed @10%
Jan 5 Goods purchased for cash Rs.4000 cash discount received @10%
Jan 7 Salary paid by cheque Rs. 7200 after deducting TDS@10%
Jan 9 100 shares of Rs. 10 each purchased @ Rs.15 per share
Jan 11 A cheque of Rs. 4500 issued to creditor and discount received @10%
Jan 13 Cash withdraw from bank - for personal use Rs.5000 for office use Rs 10000
Jan 15 Personal investment sold for Rs. 50000 and the amount deposited into
business bank account [6]

33. On 01.04.2018 ABC Ltd. purchased a machine for Rs. 100000 Half of this machine was sold on
3103.2019 for Rs. 30000 on 30.06.2018 second machine was purchased for Rs. 200000 on
31.03.2019 third machine was purchased for Rs. 300000. Depreciation is provided @ 20% p.a. on
WDVM on 31st march every year prepare machine Account for three year ended 31.03.2021
Calculation be made nearest to rupee [6]

34. Prepare Trading and profit and loss Account and Balance sheet from the following balances
relating to the year ending 31st march 2022

Rs.

Capital 1000000 wages 500000

Creditors 120000 Bank 100000

Return outward 50000 Repairs 5000

Sales 1640000 Stock (01.04.2021) 200000

Bills payable 50000 Rent 40000

Manufacturing Expenses 80000

Plant and machinery 400000 Trade expenses 70000

Sundry debtors 240000 Bad debts 20000

Drawing 100000 Carriage 15000

Purchases 1050000 Fuel and power 10000

Return Inward 30000

Additional information

(i) Closing stock was valued Rs.145000
(ii) Wages due for 2 month

(iii) Allowed interest in capital @5%
(iv) Charged interest in drawing @6% [6]

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