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Sample Paper- 2016

Subject: ACCOUNTANCY

Class 11th
Time allowed: 3 hours Maximum Marks: 90
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GeneralInstructions:
1. ThisquestionpapercontainsTwopartsA&B.
2. Boththepartsarecompulsoryforall.
3. Allpartsofquestionsshouldbeattemptedatoneplace.
4. Marksaregivenattheendofeachquestion.
Part A ( Financial Accounting -- I)
1.What do you mean by Contingent Liability? (1)
2.What is meant by Pay-In-Slip? (1)
3.What is meant by Generally Accepted Accounting Principles (GAAP)? (1)
4.What are the Liquid Assets? (1)
5.Write any three limitations of accounting. (3)
6. GiveJournalentriesforthefollowing:
(i) Receivedonly60paiseinrupeefromofficialreceiverofMr.VinodwhoowedRs.10,000.
(ii) PaidRs.7,300toVinodinfullsettlementofhisaccountofRs.7,500.
(iii) ReceivedcashfromVinodforabaddebtwrittenofflastyearRs.500. (3)
7. IfthecapitalofabusinessisRs.5,00,000andliabilitiesareRs.1,00,000,LossRs.60,000,Calculate
thetotalassetsofthebusiness. (3)
8. ExplainHistoricalcostprincipleandConsistencyAssumptionofaccounting. (3)
9. DistinguishbetweenReserveandProvision. (4)
10.PrepareTrialBalancefromthefollowinginformation:
PrepaidExpenseRs.5,000,Profit&LossA/c(Profit)Rs.8,000,OutstandingRentRs.2,000,BadDebts
RecoveredRs.4,000,InterestonInvestmentRs.1,000,DuetoMohanRs.5,000,BankoverdraftRs.2,000,
DiscountAllowedRs.800,DuefromVinodRs.1,200,InvestmentRs.15,000,PatentsRs.4,000,Machinery
Rs.6,000,CapitalRs.10,000. (4)
11. AsoldgoodstoBforRs.4,000anddrewabillfortheamountdue.Baftergivinghisacceptance
returnedthebilltoA.AdiscounteditformhisbankforRs.3,900.Onduedate,billreturned
dishonouredandbankpaidRs.50asnotingcharges.AfteroneweekBpaidthefullamountofthe
billincludingthenotingcharges.GivejournalentriesinthebooksofAonly. (4)
12.PrepareDoublecolumnCashBookofVinodfromthefollowingtransactions:

2010 Amt.(Rs.)

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June.1 CashinhandRs.800,Bankoverdraft................................. 5,700

June.7 ReceivedachequefromBharti............................................ 3,250
June.9 Depositedtheabovechequeintobank.
June.15 ChequeReceivedfromPannaLal...................................... 1,200
June.20 Bharti'sChequereturneddishonoured
June.28 PannaLal'schequewasendorsedtoKamal
June.30IncomeTaxpaidbycheque.................................................. 150 (4)

13. Vinodhasthefollowingtransactions.Showaccountingequationforthesame:
(i) StartedbusinesswithcashRs.30,000;StockRs.12,000;MachineryRs.20,000;
FurnitureRs.10,000.
rd
(ii) 1/3 oftheabovegoodssoldataprofitof10%oncostandhalfofthepaymentisreceived
incash.
(iii) CashwithdrawnforpersonaluseRs.2,000.
(iv)Interestondrawingscharged@5%. (4)
14. Prepare a Bank Reconciliation Statement on 31 December 2009 for the following when credit
balanceasperbankcolumnofcashbookisRs.1,800:
(1) Chequesissued,butnotpresentedforpaymentRs.360.
(2) Chequedepositedbutnotcollectedbythebank.Rs.770
(3) InterestonoverdraftchargedbythebankRs.30.
(4)AcustomerdirectlydepositedinbankRs.500. (6)
st st
15.VinodLtd.,purchasedaPlanton1 April,2005forRs.15,000.Itpurchasedanotherplanton1
st st

October,2005costingRs.20,000andon1
st
July,2006costingRs.30,000.On1 January,2007thePlant
purchasedon1 April,2005becameuselessandwassoldforRs.2,000.ShowPlantAccountcharging
st
10%p.a.depreciationbyfixedinstalmentmethodforfouryears.Theplantpurchasedon1
st
October,
2005wassoldforRs.8,000on1 January,2008.Accountsofthecompanyareclosed
st
on31 Decembereachyear. (8)

PartB(Financial Accounting -- II)

16.HowwillyoudealwiththeOutstandingSalaryappearingintheTrialBalanceofasole
proprietor? (1)
17.Howcomputerizedaccountingsystemisbetterthanmanualaccounting? (1)
18.Calculatethemissingfigure:
Capitalattheend 36,000
Drawings 8,000
Lossduringtheyear 2,000
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Capitalinthebeginning 40,000
Capitalintroducedduringtheyear ? (3)
st
19.ShowthefollowinginformationintheBalanceSheetoftheCosmosClubasat31 March,
2007:
Particulars Debit Credit
TournamentFund 3,00,000
TournamentFundInvestment 3,00,000
IncomefromTournamentfundinvestment 36,000
TournamentExpenses 24,000
AdditionalInformation:
InterestaccruedonTournamentfundinvestmentRs.12,000. (3)
st
20.VinodmaintainshisaccountonSingleEntrySystem.Calculatehisprofiton31 March,2013fromthe
followinginformation:
Particulars 1April2012 31March2013
Cashinhand 6,000 2,000
BankBalance 18,000 14,000
Furniture 8,000 8,000
Stock 4,000 12,000
Creditors 16,000 12,000
Debtors 12,000 16,000
(6)

DuringtheyearhisdrawingswereRs.4,000andadditionalcapitalinvestedRs.8,000.

21.Howwillyoutreatthefollowingwhilepreparingfinalaccounts:
Debtors 80,000
BadDebts 2,000
Provisionfordoubtfuldebts 5,000
Adjustments:
BadDebtsRs.500andProvisionondebtors@5%. (6)

22.DifferentiatebetweenManualaccountingandComputerizedaccountingsystem. (6)
23.Howwillyoutreatthefollowingitems:ReceiptandPayment
31122006:

Receipts Amount Payments Amount

BySalaries:
2005 20,000
2006 2,80,000
2007 18,000

AdditionalInformation:
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(i)Salariesoutstandingon31stDecember,2005 Rs.25,000
(ii)Salariesoutstandingon31stDecember,2006 Rs.45,000
(iii)Salariespaidinadvanceon31stDecember,2005Rs.10,000 (6)

24. FromthefollowingTrialBalanceofM/s.VinodandSonsason31stMarch2012,prepareTradingand
Profit&LossAccountandBalanceSheet.
Particulars Amount Particulars Amount
Officeexpenses 300 Stock(opening) 9,000
Sellingexpenses 11,100 Plant&Machinery(1.4.2011) 20,000
Generalexpenses 1,000 Plant&Machinery(addition1.10.2011) 5,000
Sundrydebtors 20,600 Drawings 6,000
FurnitureandFixtures 5,000 Capital 75,000
Returninwards 13,000 Reservefordoubtfuldebts 800
Printingandstationery 400 RentforPremisesSublet 1,600
Rent,Ratesandtaxes 4,600 Insurancecharges 700
Sundrycreditors 15,000 Administrativeexpenses 11,000
Sales 1,31,000 Cashinhand 8,500
Returnoutwards 1,000 CashatBank 18,200
Purchases 90,000

Adjustments:
(i) Stockinhandattheend.14,000.
(ii) WriteoffRs.600asbaddebts.
(iii) Create5%provisionforbadanddoubtfuldebts.
(iv) Depreciatefurnitureandfixturesat5%p.a.andPlant&Machineryat20%p.a.
(v) InsuranceprepaidwasRs.100.
(vi) AfireoccurredinthegodownandstockofthevalueofRs.5,000wasdestroyed.Itwasinsured
andtheinsurancecompanyadmittedfullclaim. (8)

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