SHARADA MANDIR SCHOOL

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1 TERM EXAM – OCTOBER 2017
Class: - 11 ACCOUNTS PAPER (3 HOURS)
Max Marks -80
(Candidates are allowed additional 15 minutes for reading the question paper. They must
not start writing during this time)
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Answer Question 1 (Compulsory) from Part I & any other 5 questions from Part II.
The intended marks for questions or parts of questions are given in brackets ( )
All the working including rough work should be done on the same sheet as & adjacent to
the rest of the answer.
The paper consists of 3 Printed Pages
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Part I

Q1) Answer the following questions [10X2=20mks]

a) Describe Double Entry System of Accounting.
b) Distinguish between Debtor and Creditor. (2 points)
c) Give Journal entry for goods given as charity.

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d) Explain Verifiable objective concept.
e)
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State the rule of Debit and Credit under traditional classification of Accounts.
f) What do you understand by Contra Entry?
g) Why is Bank Reconciliation prepared?
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h) Distinguish between Debit note and Credit note. (2 points)
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i) Give an example of a Compound entry.

k) Give abbreviation of GAAP & IFRS.
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Part I
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Q2) Prepare double column Cash Book from the following transactions. [12]

Date Particulars
2017 Cash Balance ` 1,70,000
April 1 Bank Balance ` 1,06,000
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April 3 Cash sales ` 60,000

April 5 Rent paid by cheque ` 24,000
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April 7 Cash deposited into bank ` 60,000

April 9 Wages paid ` 1,000
April 9 Rent paid ` 1,800
April 11 Received cheque from Mahajan ` 7,800
April 13 Goods purchased ` 4,000
April 15 Withdrawal from bank for office use ` 20,000
April 18 Issued a cheque to Ritu ` 13,400 and discount allowed ` 600
April 21 Withdrew cash for personal use ` 4,000
April 24 Received cheque from Rohit ` 10,000
April 28 Furniture purchased and cheque issued ` 6,000
April 29 Received interest on investment ` 3,000
April 30 Paid salaries ` 4,800

……..2…

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Q3) Journalise the following transactions in the books of Supriya, the owner
of the business [12]
Date Particulars
2017
Supriya started business with cash `50,000.
January 1
January 4 Purchased goods worth ` 5,000 from Sarita on credit.
January 8 Neha purchased goods worth ` 4,000 from Supriya on credit.
Received a Cheque from Neha in full settlement of her account ` 3, 850.Discount
January 10
allowed to her ` 150
January 14 Payment made to Sarita ` 4,900. Discount allowed by him ` 100.
January 18 Purchased goods for cash ` 10,000.
January 20 Goods sold to Kavita for ` 15,000.Trade discount @ 20% is allowed to her.
January 24 Payment received from Kavita by Cheque.
January 28 Salary paid in advance to Surjee ` 2,500.
January 29 Purchased Furniture for ` 90,000 and paid ` 10,000 as installation charges.
January 30 Rent amounted to ` 8,000 outstanding for the month of January.

Q4) From the following information, prepare subsidiary books of M/s ABC Computers. [12]

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Date Particulars
2017 Bought 12 printers from Rajeev & Co. at market price 10,000 each less 15%
March 1 Trade Discount. co
March 7 Bought office furniture from Hemant & Co. for 12,500
March 9 Sold 280 CD’s to J.V.M. graphics for 4,000
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March 11 Bought 10 CPU from Intel world @18,000 each less 15% Tarde discount
March 12 Sold 5 Computers to Vig & Sons @25,000 each less 10% Trade Discount
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March 17 Returned 2 printers to Rajeev & co.

March 21 Sold 5 CD writers to Intex Software @4,500 each less 5% Trade Discount
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March 22 Returned 80 CD’s by J.V.M. Graphics

March 23 Sold old Furniture for 1,200
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March 27 1 Computer returned by Vig & Sons for 18,000

March 29 Sold 1 Printer to Gupta & co. @ 8,500 for cash.
March 30 Returned 2 CPU to Intel world.
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March 30 Bought 5 Printer Cartridges @ 1,500 each.

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Q5) From the following ledger balances draft the Trial Balance of Mrs. Roy as on
31st March, 2017. [12]
Particulars Amount Particulars Amount
Cash a/c 34,900 Capital a/c 60,000
Furniture a/c 10,000 Creditor a/c 10,000
Purchase a/c 45,000 B.sen & co. a/c (cr) 30,000
Bank a/c 15,000 Sales a/c 31,000
Stationery a/c 1,000 Interest received a/c 1,000
Debtors a/c 3,000 Machinery a/c 6,000
Sales returns a/c 2,000 Office rent a/c 5,000
Drawings a/c 3,000 Interest allowed a/c 2,000
Office expenses a/c 10,000 Electricity bill a/c 100
Commission received a/c 5,000 Bad debts a/c 3,000
Purchase returns 7,000 Rates & Taxes 1,500
Depreciation 2,500

…….3…..

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Q6) From the following particulars, prepare Bank Reconciliation Statement in the books of
Swati as on 31st Jan, 2017. [12]
a) Balance as per Pass Book as on 31st Jan, 2017 was ` 31,250
b) Cheque of ` 8,900 issued by Mr. Rajesh on 28th January, 2013 but this was not presented for
payment.
c) A cheque for ` 7,500 received from Rajesh was paid into bank but was omitted to be
entered in the cash book.
d) A cheque of ` 3,400 paid by him into bank is not yet credited in Pass Book.
e) The bank has charged ` 55 as its commission for collecting outstation charges.
f) Bank has allowed interest ` 250 on the traders balance.
g) Interest on overdraft ` 4,000 was entered in the Pass book.
h) Cheque issued to creditors amounted to ` 8,000 were presented on 2nd Feb, 2017.
i) Insurance premium of ` 2,500 paid directly by bank understanding instructions.
j) A customer directly deposited ` 2,000 into the bank.
k) Cheque for ` 4,500 was deposited but not collected by bank.

Q7)
a) From the following particulars of Mr. Akash prepare the accounting equation. [6]

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(i) Started business with capital of ` 50,000
(ii) Bought furniture for cash ` 16,000 co
(iii) Sold goods (costing ` 8, 500) to Rakesh for cash ` 15,000
(iv) Purchased goods (Costing ` 5000) from Raj half of which was paid by cash.
(v) Paid rent in advance amounted to ` 1,500
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(vi) Introduced additional capital of ` 25,000
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b) Enter the following transactions in a single column cash book. [6]

Date Particulars
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2017
Mr. Naresh commenced business with cash ` 2,50,000
April 2
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April 4 Purchased goods for cash ` 22,200

April 6 Purchased goods from Jai & co. on credit ` 20,000
April 12 Sold goods ` 75,000
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April 16 Paid rent ` 1,000

April 19 Purchased building ` 2,00,000
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April 21 Cash sales ` 9,900

April 22 Sold goods to Parag for ` 20,000 half was paid by cash
April 23 Salaries paid ` 10,000
April 24 Paid wages ` 5,500
April 28 Received from Parag
April 29 Paid Jai & o. in their full settlement.

Q8)
a) Explain any 3 reasons for difference in the balances of Cash book and Pass book. [3]
b) Briefly explain any 3 types of subsidiary books. [3]
c) Describe any 2 branches of accounting. [2]
d) Mr. Amay supplies following information about his incomes and expenses for the financial
year 2016-17 earned ` 12, 00,000. Out of which he received ` 11,00,000. He incurred an
expenses of ` 5, 10,000 out which ` 1,20,000 are outstanding. He also received consultancy
fee relating to previous year ` 13,500 and also paid ` 60,000 expenses of last year.
Calculate his Income under Cash basis and Accrual basis. [4]

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