Higher Secondary (Vocational) Examination-2017
Class XI
Accountancy
(Business & Commerce only)
Time Allowed: 3Hrs. Full Marks:70
Answer Question No.1 and any five from the rest.
1.A.Choose the correct option from the given alternatives:(any ten) 1x10=10
(i) Which of the following is not an asset?
(a)Patent
(a)Patent
(b) Goodwill
(c) Stock
(d) Bills Payable
(ii) Which of the following is not a branch of accounting?
(a) Management Accounting
(b)Cost Accounting
(c)Financial Accounting
(d)Book Keeping
(iii) Purchase of Assets indicates
(a)Capital expenditure
(b)Revenue expenditure
(c)Defered Revenue expenditure
(d) None of these
(iv) The credit balance of Income & Expenditure Account is
(a) Surplus
(b) Deficit
(c)Capital
(d)Assets
(v) Bank Account is a
(a) Personal A/c
(b) Real A/c
(c) Nominal A/c
(d) None of the above
(vi) Double entry system of Accounting is evolved by
(a) Aristole
(b)Luca Pacioli
(c)Kautiliya
(d) Galileo
(vii) First step of Accounting is the recording of transaction in
(a)Journal
(b)Ledger
(c) Trial Balance
(d)Balance Sheet
(viii)Which of the following will not be recorded in the books of accounts?
(a)Sale of goods
(b)Payment of Salary
(c)Quality of Staff
(d)Paid for stationary
(ix) Bank Reconcilliation statement is
(a) An Account
(b)A statement
(c) A Journal
(d) A Ledger
(x)Which of the following is not a liability
(a)Capital
(b)Bills Payable
(c)Provision for double debts
(d)Patent right
(xi) Gross profit shown in the ......................a/c
(a) Trading A/c
(b) Profit & Loss A/c
(c) Real A/c
(d) Personal A/c
(xii) The balance of Discount A/c will be
(a) Only debit
(b)only credit
(c)both debit & credit
(d)No balance
B. Fill in the gaps.(any ten) 1x10=10
(a) Personal A/c
(b) Real A/c
(c) Nominal A/c
(d) None of the above
(vi) Double entry system of Accounting is evolved by
(a) Aristole
(b)Luca Pacioli
(c)Kautiliya
(d) Galileo
(vii) First step of Accounting is the recording of transaction in
(a)Journal
(b)Ledger
(c) Trial Balance
(d)Balance Sheet
(viii)Which of the following will not be recorded in the books of accounts?
(a)Sale of goods
(b)Payment of Salary
(c)Quality of Staff
(d)Paid for stationary
(ix) Bank Reconcilliation statement is
(a) An Account
(b)A statement
(c) A Journal
(d) A Ledger
(x)Which of the following is not a liability
(a)Capital
(b)Bills Payable
(c)Provision for double debts
(d)Patent right
(xi) Gross profit shown in the ......................a/c
(a) Trading A/c
(b) Profit & Loss A/c
(c) Real A/c
(d) Personal A/c
(xii) The balance of Discount A/c will be
(a) Only debit
(b)only credit
(c)both debit & credit
(d)No balance
B. Fill in the gaps.(any ten) 1x10=10
(i) The debit side of Cash Book indicates......................
(ii) Capital + Liability=...................
(iii)Ledger is called the ...................Book of Account.
(iv)Trial Balance is prepared from the balance of Account of .......................
(v) ....................... is the father of Modern Accountancy.
(vi) Drawing is a/an .........................a/c
(vii) In ........................... concept, two sides of every transaction are considered.
(viii) Goodwill is a/an...............a/c.
(ix) The second step of accounting is .........................
(x) Rent paid in advance is a ...............................Account.
(xi) For goods purchased .................account is debited,
(xii)Balance sheets is a statement of .......................................
(iii)Ledger is called the ...................Book of Account.
(iv)Trial Balance is prepared from the balance of Account of .......................
(v) ....................... is the father of Modern Accountancy.
(vi) Drawing is a/an .........................a/c
(vii) In ........................... concept, two sides of every transaction are considered.
(viii) Goodwill is a/an...............a/c.
(ix) The second step of accounting is .........................
(x) Rent paid in advance is a ...............................Account.
(xi) For goods purchased .................account is debited,
(xii)Balance sheets is a statement of .......................................
2.(a) What is Book Keeping?
(b) What are its functional?
(c) Difference between Book Keeping and Accounting. 2+4+4=10
3.(a) What do you mean by Transaction?
3.(a) What do you mean by Transaction?
(b) Discuss the features of Transaction.
(c) What are the difference between Events and Transaction?
or
(c) What are the difference between Events and Transaction?
or
(a) State the features of Double Entry System.
(b) Discuss about Golden Rules.
4. Write short notes (ant two)
(a)Entry Cocept
(b)Proprietary Concept
(c) Cost Cocept
5. Journalise the following transaction
2016
April 1 Commenced business with cash Rs.10000 and Machinery Rs.7000
April 2 Deposited into Bank Rs.7500
April 7 Bought Goods for Cash Rs.10000
April 9 Sold Goods to Ramen on Credit Rs.17000
April 12 Received cash from Ramen Rs.15000
April 15 Cash drawn for private purpose Rs.1000
April 17 Paid Salary by Cheque Rs.5000
April 18 Commission received Rs.2000
April 20 Paid carriage on purpose Rs 1000
April 22 Drwan cash from Bank office use Rs. 2000
6. From the following transaction, prepare a "Double Column Cash Book" with cash and bank column balance book on 31.12.15
2015
December - 1 Cash in Hand Rs.4750
Cash at Bank Rs 64400
December - 4 Received from Subrata cash Rs.3200 and a cheque fro Rs5400 and the cheque was sent to Bank
December - 7 Paid salary to staff by cheque rs 15600
December - 8 Withdrawn cash from Bank for office use Rs.21900
December - 12 Purchased Furniture in Cash Rs.18500
December - 16 Paid to TOSH & Co. by cheque Rs.12900
December - 18 Propriter withdrew from office cash for his personal use Rs2000
December - 21 Sold Goods to Manab for Cash Rs16400
December - 23 Deposited office cash into Bank Rs23200
December - 28 Paid Rs.800 in cash for Advertizement Expensed
7. From the following prepare "Machnery Account" for the year 2014,2015.
A Machine was purchased for Rs100000 on 1.1.2014. Installation cost incurred on the same day was Rs5000 on 30.06.2015. The Machine was sold for Rs.75000. On the same day a new machine was purchased for Rs50000. Depereciation was charged @10% p.a. Diminishing Balance method.
OR
(a) Distinguish between Fixed Installement Method and Reducing Balance Method of Depreciation.
(b) Is Depreciation a Reserve or Provision?
8. From the following particulars prepare Bad Debt A/c and Provision for Bad Debt A/c on 31.12.2015
2015 Jan 01 Provision for Bad Debt Rs.3750
December 31 Bad Debts written off Rs 2250
Debtors Rs.50000 (including further Bad Debt Rs.5000)
Provision for Bad Debts is to be made at 10%
OR
(a) What do you understand by Bad Debt.
(b) Why is it necessary to Create provision for Doubtful Debts?
9.From the following Trial Balance of Mr. T.N.Saha, Prepare Trading A/c Profits & Loss A/c and Balance sheets as on 31.12.15
Trial Balance as on 31.12.15
Debit Balance Credit Balance
Purchases 303000 sales 582500
Rent & Taxes 24000 sundry creditors 67300
Carriage Inward 8000 Discount Received 9500
Carriage Outward 7200 Commission Received 3400
Land & Building 120000 Capital 137300
Plant & Machinary 80000
Sundry Debtors 84000
Discount Allowed 6100
Cash inHand 14600
Opening Stock 87850
Wages 26000
Salaried 32000
Bad Debts 3250
Drawing 4000
---------------------------------------------------------------------------------------------------------------------
800000 800000
------------------------------------------------------------------------------------------------------------------
Additional information
(i)Closing stock valued Rs.126800
(ii)Outstanding Wages Rs.4000 and salaried Rs.3000
(iii) Prepaid Rent Rs.2400
(iv) Depreciation of Land & Building by 5% and plant & Machinaer by 10% p.a.
5. Journalise the following transaction
2016
April 1 Commenced business with cash Rs.10000 and Machinery Rs.7000
April 2 Deposited into Bank Rs.7500
April 7 Bought Goods for Cash Rs.10000
April 9 Sold Goods to Ramen on Credit Rs.17000
April 12 Received cash from Ramen Rs.15000
April 15 Cash drawn for private purpose Rs.1000
April 17 Paid Salary by Cheque Rs.5000
April 18 Commission received Rs.2000
April 20 Paid carriage on purpose Rs 1000
April 22 Drwan cash from Bank office use Rs. 2000
6. From the following transaction, prepare a "Double Column Cash Book" with cash and bank column balance book on 31.12.15
2015
December - 1 Cash in Hand Rs.4750
Cash at Bank Rs 64400
December - 4 Received from Subrata cash Rs.3200 and a cheque fro Rs5400 and the cheque was sent to Bank
December - 7 Paid salary to staff by cheque rs 15600
December - 8 Withdrawn cash from Bank for office use Rs.21900
December - 12 Purchased Furniture in Cash Rs.18500
December - 16 Paid to TOSH & Co. by cheque Rs.12900
December - 18 Propriter withdrew from office cash for his personal use Rs2000
December - 21 Sold Goods to Manab for Cash Rs16400
December - 23 Deposited office cash into Bank Rs23200
December - 28 Paid Rs.800 in cash for Advertizement Expensed
7. From the following prepare "Machnery Account" for the year 2014,2015.
A Machine was purchased for Rs100000 on 1.1.2014. Installation cost incurred on the same day was Rs5000 on 30.06.2015. The Machine was sold for Rs.75000. On the same day a new machine was purchased for Rs50000. Depereciation was charged @10% p.a. Diminishing Balance method.
OR
(a) Distinguish between Fixed Installement Method and Reducing Balance Method of Depreciation.
(b) Is Depreciation a Reserve or Provision?
8. From the following particulars prepare Bad Debt A/c and Provision for Bad Debt A/c on 31.12.2015
2015 Jan 01 Provision for Bad Debt Rs.3750
December 31 Bad Debts written off Rs 2250
Debtors Rs.50000 (including further Bad Debt Rs.5000)
Provision for Bad Debts is to be made at 10%
OR
(a) What do you understand by Bad Debt.
(b) Why is it necessary to Create provision for Doubtful Debts?
9.From the following Trial Balance of Mr. T.N.Saha, Prepare Trading A/c Profits & Loss A/c and Balance sheets as on 31.12.15
Trial Balance as on 31.12.15
Debit Balance Credit Balance
Purchases 303000 sales 582500
Rent & Taxes 24000 sundry creditors 67300
Carriage Inward 8000 Discount Received 9500
Carriage Outward 7200 Commission Received 3400
Land & Building 120000 Capital 137300
Plant & Machinary 80000
Sundry Debtors 84000
Discount Allowed 6100
Cash inHand 14600
Opening Stock 87850
Wages 26000
Salaried 32000
Bad Debts 3250
Drawing 4000
---------------------------------------------------------------------------------------------------------------------
800000 800000
------------------------------------------------------------------------------------------------------------------
Additional information
(i)Closing stock valued Rs.126800
(ii)Outstanding Wages Rs.4000 and salaried Rs.3000
(iii) Prepaid Rent Rs.2400
(iv) Depreciation of Land & Building by 5% and plant & Machinaer by 10% p.a.
