CBSE Class 10 Sample Paper 2026 Solution for Elements Book Keeping Accountancy

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2026
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ELEMENTS OF BOOK-KEEPING AND ACCOUNTANCY (254)
CLASS X (2025-26)
Marking Scheme
MM – 70 TIME: 3 HOURS
S.No. Question Marks
1. d) Rent Received 1
Or
a) Building purchased
2. d) More than one year 1
3. a) ₹ 3,33,000 1
Or
b) ₹ 1,80,000
4. b) Total Depreciation charged by Mario Ltd. will be more than Frontier Ltd. 1
for two years
5. d) When Cash Book and Pass Book balance are not same 1
Or
d) Account Holder
6. a) Both the Statement are False 1
7. a) Credit Balance as per Pass Book ₹ 36,000 1
8. c) Investments 1
Or
a) Market Value
9. b) Subtracted ₹ 10,000 1
10. b) Both A and R are correct but R is not the correct explanation of A 1
11. b) Assets for Sultan and Liability for Rancho 1
12. a) 28 October, 2024 1
Or
d) Shatrughan
13. a) Debit side of Trading Account 1
Or
b) Debit side of Profit and Loss Account
14. d) Gross Profit ₹ 4,80,000 1
Or
c) Discount Received ₹ 1,60,000
15. d) Balance Sheet 1
16. c) Accrued Interest 1
17. c) Statement of Affairs 1
Or
c) Statement of Affairs
18. b) Capital 1
19. (a) Capital = 1,50,000 + 2,50,000 = 4,00,000 3
(b) Capital Expenditure = Furniture + Equipment = 80,000 + 20,000
= ₹ 1,00,000
(c) Revenue Expenditure = Advertisement + Rent = 30,000 + 40,000 = ₹
70,000

20. Basis Capital Expenditure Revenue Expenditure 3
Purpose To improve company’s To maintain day to day
long term operations operations
Earning Increase the earning Maintains the earning
Capacity capacity Capacity
Placement Assets side of Balance Debit side of Trading and
Sheet Profit and Loss Account
21. Written Down Value Method 3
Merits (Any two)
i. This method is based on a more realistic assumption that the
benefits from asset go on diminishing (reducing) with the passage of
time. Hence, it calls for proper allocation of cost because higher
depreciation is charged in earlier years when asset’s utility is higher
as compared to later years when it becomes less effective.
ii. It results into almost equal burden of depreciation and repair
expenses taken together every year on profit and loss account;
iii. Income Tax Act accept this method for tax purposes;
iv. As a large portion of cost is written-off in earlier years, loss due to
obsolescence gets reduced;
v. This method is suitable for fixed assets which last for long and which
require increased repair and maintenance expenses with passage of
time. It can also be used where obsolescence rate is high.
22. The bill must have been accepted by Vicky. 3
Journal Entries
Date Particulars L.F Debit (₹) Credit (₹)
I. Cash A/c Dr. 30,000
To Bills Receivable A/c 30,000
(Bill amount received on due date)
II. Bank A/c Dr. 30,000
To Bills Sent for Collection A/c 30,000
(Bill collected by bank on due date)
Or
Journal in the Books of Balwinder
Date Particulars L.F Debit (₹) Credit (₹)
Mar.15 Saurabh’s A/c Dr. 25,000
2024 To Sales A/c 25,000
(Being
goods sol
to Mohit)
Mar.15 Bills Receivable A/c Dr. 25,000
2024 To Saurabh’s A/c 25,000
(Bill accepted by Mohit)
Mar.25 Arpit A/c Dr. 25,000
2024 To Bills Receivable A/c 25,000
(Bill endorsed in favour of Arpit)
23. Fill in the blanks with suitable word/words : 4

(a) Debit
(b) Reconcile
(c) Credit
(d) Debit , Credit
Or
Bank Reconciliation Statement
As on 31 October, 2024
Particulars Add Subtract
Balance as per Cash Book 45,000
Cheques issued but not yet presented for payment 10,000
Cheques deposited in bank but omitted to be entered 12,000
in Cash Book
Interest allowed by Bank 3,000
Balance as per Pass Book 70,000
70,000 70,000
24. On 25 November, 2024, Doremon sold goods to Nobita for ₹ 30,000 and on 4
the same date drew a bill for 4 months. The bill was accepted by Nobita.
Doremon discounted the bill from his bank @ 9%pa. The bill was duly met
on due date. Give necessary journal entries in the books of Doremon and
Nobita
Journal in the Books of Doremon
Date Particulars L.F Debit (₹) Credit (₹)
Nov.25 Bills Receivable A/c Dr. 30,000
2024 To Nobita’s A/c 30,000
(Bill accepted by Nobita)
Nov.25 Bank A/c Dr. 29,100
2024 Discounting Charges A/c Dr. 900
To Bills Receivable A/c 30,000
(Bill discounted with bank)

Journal in the Books of Nobita
Date Particulars L.F Debit (₹) Credit (₹)
Nov.25 Doremon’s A/c Dr. 30,000
2024 To Bills Payable A/c 30,000
(Bill accepted in favour of Doremon)
Mar. 28 Bills Payable A/c Dr. 30,000
2025 To Cash A/c 30,000
(Bill amount paid on due date)
25. Journal in the Books of Ram Kishore 4
Date Particulars L.F Debit (₹) Credit (₹)
Mar.31 Trading A/c Dr. 5,40,000
2025 To Profit and Loss A/c 5,40,000
Mar.31 Profit and Loss A/c Dr. 80,000
2025 To Salary A/c 80,000
Mar.31 Commission Received A/c Dr. 30,000
2025 To Profit and Loss A/c 30,000

Mar.31 Profit and Loss A/c Dr. 4,90,000
2025 To Capital A/c 4,90,000
26. Statement of Profit and Loss 4
for the year ended March 31, 2025
Particulars Amount (₹)
Capital at the end of the year 4,70,000
Add :- Drawings during the year (10,000 x 6) + 30,000 90,000
Less:- Additional Capital introduced during the year (40,000)
Less:- Capital at the beginning of the year (1,50,000)
Profit made during th 3,70,000
year
27. Startup India Ltd. purchased a machinery for ₹ 9,50,000 on 1st July 2023 6
and spent ₹ 20,000 on its installation and ₹ 30,000 on its transportation. It is
to be depreciated @10%pa on written down value. If the books are closed
on 31st march each year give journal entry on the date of purchase and
depreciation charged for the year ended March 31, 2024 and March 31,
2025. Also determine the books value of Machinery to be shown in the
Balance Sheet as at March 31, 2025
Journal in the Books of Startup India Ltd.
Date Particulars L.F Debit (₹) Credit (₹)
July 01 Machinery A/c Dr. 10,00,000
2023 To Bank A/c 10,00,000
Mar.31 Depreciation A/c Dr. 75,000
2024 To Machinery A/c 75,000
Mar. 31 Profit and Loss A/c Dr. 75,000
2024 To Depreciation A/c 75,000
Mar.31 Depreciation A/c Dr. 92,500
2025 To Machinery A/c 92,500
Mar. 31 Profit and Loss A/c Dr. 92,500
2025 To Depreciation A/c 92,500

Value of Machinery shown in the Balance Sheet as at March 31, 2025 ₹
8,32,500.
28. a) Bank Reconciliation Statement 6
b) ₹ 10,000 will be subtracted
c) ₹ 1,000 will be subtracted
d) ₹ 8,000 will be subtracted
e) ₹ 2,000 will be added
f) ₹ 6,000 will be added
29. Statement of Affairs 6
as on 31 March 2024
Liabilities Amount (₹) Assets Amount (₹)
Creditors 15,000 Cash 20,000
Bills Payable 5,000 Bank 10,000
Capital (b/f) 1,16,000 Debtors 40,000
Furniture 60,000

Bills Receivable 6,000
1,36,000 1,36,000

Statement of Affairs
as on 31 March 2025
Liabilities Amount (₹) Assets Amount (₹)
Creditors 20,000 Cash 35,000
Bills Payable 4,000 Debtors 30,000
Bank Overdraft 15,000 Furniture 80,000
Capital (b/f) 1,14,000 Bills Receivable 8,000
1,53,000 1,53,000

Statement of Profit and Loss
for the year ended March 31, 2025
Particulars Add
Capital at the end of the year 1,14,000
Add :- Drawings during the year (5,000 x 12) 60,000
Less:- Additional Capital introduced during the year (50,000)
Less:- Capital at the beginning of the year (1,16,000)
Profit made during the year 8,000
Or
(a) Accounting records, which are not strictly kept according to double
entry system are known as incomplete records. It is a mechanism of
maintaining records whereby some transactions are recorded with
proper debits and credits while in case of others, either one sided or no
entry is made.
(b) Difference between Balance Sheet and Statement of Affairs
Basis Balance Sheet Statement of Affairs
Reliability It is based on sophisticated It is based on estimates;
and well developed hence, it is less reliable.
principles; hence, it is more
reliable
Accounting It is prepared when It is prepared from
Method accounts are maintained incomplete records of
under double entry system. business transactions under
single entry system.
Omission Omission of assets and Omission of assets and
liabilities can be easily liabilities cannot be easily
identified, as omission will identified.
lead to mismatch of either
sides of the balance sheet.
Objective It is prepared to ascertain it is prepared to determine
the true financial position. the amount of capital at a
particular date.
30. Trading Account 6
for the year ended March 31, 2022

Particulars Amount (₹) Particulars Amount (₹)
To Opening Stock 40,000
To Purchase 1,80,000 1,70,000 By Sales 3,40,000 3,20,000
(-) Returns (10,000) (-) Returns (20,000)
Wages 20,000
To Gross Profit (b/f) 1,50,000 By Closing Stock 60,000
3,80,000 3,80,000

Profit and Loss Account
for the year ended March 31, 2022
Particulars Amount (₹) Particulars Amount (₹)
To Rent 50,000 By Gross Profit 1,50,000
To Discount allowed 10,000 By Commission 40,000
To Net Profit (b/f) 1,50,000 By Discount Received 20,000
2,10,000 2,10,000

Balance Sheet
as at March 31, 2022
Liabilities Amount (₹) Assets Amount (₹)
Creditors 40,000 Furniture and Fixtures 4,00,000
Bank Overdraft Plant and Machinery 3,00,000
Capital 8,00,000 Goodwill 80,000
(-) Drawings (20,000) Debtors 60,000
+ Net Profit 1,50,000 9,30,000 Cash in Hand 70,000
Bank Loan 60,000 Bank Balance 60,000
Closing Stock 60,000
10,30,000 10,30,000

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