closed can you send me the latest question paper of accounts

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asked Jan 9, 2016 in Class XI Accountancy by riya paliwal Basic (24 points)
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answered Jan 9, 2016 by ashu Premium (902 points)
 
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Part A – Financial Accounting I [50 Marks]

Q. 1. Which basis of accounting gives a correct picture of operating results and financial position of a firm ? [HOTS] [1]

Q.2. Give the classification of Reserve. [1]

Q.3. Jay and Vaishali are partners in a firm. The firm receives an order for goods. Vaishali wants to include it in the sales figure but Jay opposes it. Settle the issue. [HOTS] [1]

Q. 4. Mr. Rohan started a business of chit funds. He collected of 10 Crores from small investors with an assured 5 times return in next 5 years. He suddenly closed the company and ran away. Which value is not followed by Mr. Rohan and what legal remedy is available to the small investors? [VB][3]

Q.5. Define Accounting Standards. Explain their need. [HOTS] [3]

Q.6. The following are some of the transactions of Mis Kishore & Sons as per Waste Book.Make out their Sales Book: [3]

Sold to Mis Gupta & Verma on credit:
30 shirts @ ₹ 150
20 trousers @ ₹ 300
Less: Trade Discount@ 10%.
Sold old furniture to MIs Sehgal & Co. on credit ₹ 800
Sold 50 shirts on credit to MIs Jain & Sons @ ₹ 150 each.

Sold on credit to MIs Mathur & Jain
10 shirts @ ₹ 175
10 overcoats @ ₹ 500
Less: Trade Discount @ 10%.

Q. 7. Write difference between Trial Balance and Balance Sheet. [4]

Q. 8. Explain in brief any four limitations of accounting. [4]

Q. 9. Prepare Bank Reconciliation Statement on the basis of following information: [4]

Q. 10. Explain the advantages of accounting. [6]

Q.ll. Journalise the following in the books of Neelam: [HOTS][6]

(i) Neelam acceptance to Dinesh for ₹ 2;000 renewed at 3 months together with interest @ 18%per annum.

(ii) Ranjan requests Neelam to renew her acceptance. for ₹ 1,500 for two months. Neelam agrees to it provided interest .is paid to her @ 20% per annum in cash.

(iii) Neelam’s acceptance in favour of Guddi for ₹ 15,000 dishonoured and noting charges paid by Guddi ₹ 20, which was paid by cheque later on.

Q. 12. Ram purchased on 1.4.2008,a Machine for ₹ 75,000. The Machinery is to be depreciated by 10% p.a. on the Fixed Installment Method and accounting year being April-March.

On 1.10.2010,some part of the Machine costing₹ 10,000 was sold for₹ 7,000. On the same date, a new Machine costing ₹ 10,000 was installed.
Prepare Machinery Account and Provision for Depreciation Account for three years. [6]

Q. 13. (a) Give necessary Journal entries to rectify the following errors: (HOTS] [6]

(i) Rent received ₹ 1,000 was wrongly entered as commission received ₹ 1,000 in the Cash Book.

(ii) ₹ 2,500 paid for rent, has been wrongly debited to Interest Account.

(iii) An amount of ₹ 8,000 received on account of interest, was credited wrongly to
Commission Account.

(iv) ₹ 35,000 paid for the purchase of a motor cycle to proprietor has been charged to
Miscellaneous Expenses Account.

(v) Contractor’s Bill of₹ 27,500 for expansion of building was wrongly debited to Repairs
Account.

(vi) ₹ 5,000 paid in installment to an injured worker for compensation. The worker’s compensation claim was debited to Wages Account.

(b) Goods worth ₹ 10,000 returned by Keshwari were taken into stock but the transaction was not recorded by Mr. Shaad (accountant) in the books of account as he was doing some of his personal work and left the company after office hours not caring for the transaction to be entered in the books of accounts.

(i) Identify the value missing in the above case.

(ii) Rectify the error. [VB][2]

Or

Q. Write the following transactions in Cash Book with Discount and Bank Columns: [8]
2012

Jan. 1 Opening balance of cash ₹ 2,00,000.
Jan. 3 He pays ₹ 1,80,000 into Bank’s Current A/c.
Jan. 4 He receives cheque of ₹.6,000 from Kirti & Co., on account.
Jan. 7 He pays into Bank Kirti & Co’s cheque for ₹ 6,000.
Jan. 10 He pays Ratan & Co., by cheque ₹ 3,300 and is allowed discount ₹ 200.
Jan. 12 Tripathi & Co., pay into his Bank Alc₹ 4,750.
Jan. 15 He receives cheque for ₹ 4,500 from Warsi and allows him discount ₹ 350.
Jan. 20 He receives cash ₹ 750 and cheque ₹ 1,000 for Cash Sales.
Jan. 25 He pays into Bank ₹ 10,000.
Jan. 27 He pays John & Co. ₹ 3,750 in cash and is allowed discount ₹ 350.
Jan. 30 He pays sundry expenses in cash ₹ 500.
Jan. 31 He pays office rent by cheque ₹ 2,000.
Jan. 31 He pays staff salaries by cheque ₹ 3,000.
Jan. 31 He draws a cheque for personal use ₹ 2,500.
Jan. 31 He pays Jagpal by cheque for commission ₹ 3,000.

+4 votes
answered Jan 9, 2016 by ashu Premium (902 points)

Part B . Financial Accounting II [40 Marks]

Q.14. Mr. Rohit works in a NPO. He always comes late to the office. What value is not followed ? [VB][1]

Q. 15. What do you mean by Legacy? [1]

Q. 16. What is the meaning of Statement of Affairs? [1]

Q. 17. How will you deal with the following case while preparing final accounts of a non-profit organisation: [3]

Q. 18. Radhey, who keeps his books on Single Entry System, gives you the following information: [3]

You are required to calculate Profit by preparing Statement of Profit or Loss.

Q. 19. Do you think the value of transparency is important while preparation of financial statements of a company? [VB)[3]

Q.20. Write a short note on Hardware and Software. [4]

Q. 21. Mr. Farhan, a manager in Not-For-Profit Organisation received a sum oH 5,00,000 as donation for construction of building. Mr. Farhan however, used this amount for his personal use.

(i) Identify the value missing in the above case.
(ii) Give the accounting treatment of donation in the financial statements. [VB][4]

Q. 22. What are the main disadvantages of computerised accounting? [6]

Q.23. The following is the Receipts and Payments account of Apollo Hospital for the year ended 31st March, 2012.

Q. 24. Prepare Trading and Profit & Loss Account and Balance Sheet from the following balances, relating to the year ending 31st March, 2012.

Or

The following is the Trial Balance of Mr. S. Kapur, as on 31st March, 2012 :

Taking into account the following adjustments, prepare Trading and Profit & Loss Account and the Balance Sheet:

(i) Stock on hand on 31st March, 2012 is ₹ 13,600.
(ii) Machinery is to be depreciated @ 10% p.a. and patents @ 20% p.a.
(iii) Salaries for the month of March, 2012 amount to ₹ 3,000 were unpaid.
(iv) .Insurance includes a premium of₹ 170 for year 2012-2013.
(v) Wages include a sum of ₹ 4,000 spent on the erection of a cycle shed for employees and customers. .
(vi) A provision for Doubtful Debts is to be created to the extent of 5% on Sundry Debtors. [8]

+4 votes
answered Feb 18, 2016 by popatlal2 Basic (28 points)
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+3 votes
answered Jan 9, 2016 by maaz Expert (2,228 points)
I hope it helped u
+2 votes
answered Jan 9, 2016 by maaz Expert (2,228 points)
Guess Paper – 2009
Class – XI
Subject – ACCOUNTANCY   
Time  : 3 hours                                 Marks: 100


1.    Explain the meaning of the following terms with example: a. Debtors and creditors b. Receivables and payables.        -4

2.    Following are the transaction of Amar Ltd post them into the ledger of Rakesh.                            -6
2007
Feb 1        Rakesh purchased goods of Rs.5000
Feb 3        Rakesh sold goods of Rs.30000 to Amar
Feb 8        Rakesh paid cash of Rs.2000
Feb 10        He returned goods of Rs.2000 purchased by him

3.    Show the accounting equation on the basis of the following   transactions.                                (7+7)
a.    opening balances of assets: cash Rs.40000, goods Rs.20000 and furniture Rs.1000
b.    sold goods to Vikram on credit costing Rs.400 for Rs.500
c.    paid salary in advance Rs.500
d.    rent outstanding Rs.100
e.    charge deprecation on furniture Rs.100
f.    goods lost by fire Rs.500
g.    purchased household furniture for Rs.15000, giving Rs.5000 in cash and balance through a loan.

4.    Give  journal entries in the books of Mr.Naresh:        -10
2008
Jan 1        started business with Rs.10000
    Jan 2        purchased goods from Gautam of Rs.1000 at 10% trade discount.
    Jan 5        Naresh sold goods of Rs.5000 @5% trade discount and 10% cash discount.
Jan 10    Naresh returned goods of Rs.200
    Jan 14    gave away as charity goods of Rs.500 and cash Rs.520.

5.    Record the following in Double Column Cash Book of Savitri.
                                    -10
2006
Oct 1        cash in hand                2100
        Bank overdraft            5600
Oct 3        purchased goods by cheque    1860
Oct 8        paid into bank            2000
Oct 10    cash sales at a discount of 2%    20000
    Oct 15    received from Ankit Rs.300 and discount allowed Rs.25   
    Oct 20    purchased a computer and paid by cheque Rs.15900
Oct 25    deposited into bank all cash except Rs.100

6.    Prepare purchase book from the following transactions of August 2004.                            -10
Aug 4    purchased from Prem Bros. Delhi :
        50 tins Golda Refined Oil @Rs.600 per tin
        50 tins Postman Refined Oil @Rs. 300 per tin
        40 bags sugar @ 1500 per Qt.
        (Weight of one bag 95 kgs)
Aug 16    purchased form Gain Chand Mahender Kumar
        50 tins Golda Refined Oil @Rs.600 per tin
        100 Bags Parmal Rice @Rs. 750 per bag
Aug 20    purchased from Mayank Trading Company
        50 bags sugar @Rs, 1450 per Qt
        (Weight of one bag 95 kgs)
        50 bags rice @Rs.750 per bag.

7.    Prepare the sales book from the following transactions.    -10
2004
Jan 1        sold goods to Nanda on credit    1000
Jan 5        sold goods to Desai and Co. 885, Vat @10%
    Jan 15    Goods purchased by Anil from us Rs.8000 @10% trade discount.
Jan 18    sale made to Bhanu Mal Rs.2800, Vat @5%
Feb 3    goods purchased by Sunder    1500


8.    Prepare petty cash book on the basis of the following transactions in the books of Swami Agencies. The cash book is maintained on imprest system.                    -12
Date     Voucher no.    Particulars    Amount
2006
Jan 1
Jan 1




Jan. 10



Jan 18   
1
201
202
204
205
206
207
208
209
210
211   
Opening balance
Postage stamps purchase
Conveyance paid
Paid for snacks in office
Cartage paid
Stationery purchased
Taxi fare paid
Telegram charges
Stamps purchased
Drawing pins purchased
Sundry expenses   
2000
55
65
130
15
85
78
24
12
6
320


9.    Prepare purchased return and sales return book from the following transactions of December , 2004.                        -12

Dec 2    returned to Baluja Shoe Company, Agra
50 repairs Chappals @Rs.100 per pair being not upto the approved sample. Less 10% trade discount
 Dec 12    returned to Mayur Shoe Company, Amabala
    20 pairs sports shoe @Rs.250 per pair
30 pairs P.T.  shoes @Rs.50 per pair being defective. Less 20% trade discount
 Dec 18    Kashmir Boot House returned to us
10 pairs shoes @Rs.200 per pair being goods supplied without getting order. , vat @10%
 Dec 23    college shoes, Ambala returned to us:
    10 pairs ladies chappal @Rs.60 per pair
    5 pairs ladies scandals @Rs.200 per pair
Dec 28    returned to rose shoes company
    15 pairs school shoes @Rs.70 per pair
    100 pairs plastic chappal @Rs.40 per pair


10.    From the following particulars, ascertain the bank balance as per pass         book as on 30th June,1996:                    -12
1.     Credit balance as per cash book on 30.6.97 Rs.3000
2.     Interest debited by bank Rs.100
3.     Bank charges debited by bank Rs.40
4.     Cheques of Rs.5000 deposited but cheques of Rs.3700 were credited  by the bank upto 30.06.97
5.     Two cheques of Rs.1500 and Rs.3000 were issued but only one    cheque of Rs.1500 was presented for payment
6.     Dividend on shares Rs.750 collected by bank, but no entry has been passed in the cash book
7.    Cheque issued but not recorded in the cash book Rs.1000
8.    Debit side of the cash book underacted by Rs.1000
+2 votes
answered Jan 9, 2016 by maaz Expert (2,228 points)
Previous Paper 2011


General instructions:
1. This question paper contains three parts A, B and C.
2. Part A is compulsory for all candidates.
3. Candidates can attempt only one part of the remaining parts B and C.
4. All parts of a question should be attempted at one place.

PART - A

Q. 1. How would you calculate interest on drawings of equal amounts drawn on the 1st day of every
month?              (2)

Q. 2. What is meant by Calls in Advance?         (2)

Q. 3. What is meant by forfeiture of shares?        (2)

Q. 4. What does an Irredeemable Debenture mean?        (2)

Q. 5. On March 31, 2005 after the close of books of accounts, the capital accounts of A, B and C stood
at Rs. 24,000; Rs. 20,000 and Rs. 12,000 respectively. The profit for the year Rs. 36,000 was
distributed equally. Subsequently it was discovered that interest on capital @ 5% p.a. had been
omitted. The profit sharing ratio was 2: 2: 1. Pass an adjustment journal entry.    (3)

Q. 6. Mona Ltd. acquired assets of Rs. 50 lakhs and took over creditors of Rs. 5 lakhs from Ram
Enterprises. Mona Ltd. issued 8% Debentures of Rs.  100 each at a premium of 25% as purchase
consideration. Record necessary journal entries in the books of Mona Ltd     (3)

Q. 7.i. A and B are partners in a firm sharing profits in the ratio of 3: 2. C is admitted as a partner. A
and B surrender 1/2 of their respective share in favour of C. Find the new profit sharing ratio
and also the sacrificing ratio.
ii. C is to bring his share of premium for goodwill in cash. The goodwill of the firm is estimated at
Rs. 40,000. Pass necessary entries for the record of goodwill in the above case. (2 + 2 = 4)

Q. 8. The partnership between M and N was dissolved on March 3, 2005. Their capitals on that date
were Rs. 1, 70, 000 and Rs. 30,000 respectively. Rs. 1, 00,000 was owed by the firm to M, and N owed
to the firm Rs. 50,000. Creditors on that date were Rs. 3, 00, 000. The assets realised Rs. 5, 80,000
exclusive of what was owed by N. Find the profit or loss on realisation.     (4)

Q. 9. Y Ltd. forfeited 1,500 shares of Rs. 10 each (Rs. 7 called up) for the non- payment of the
allotment money of Rs. 4 per share including Re. 1 as premium. Of these 1,000 shares were re-issued
to Mat Rs. 6 per share as Rs. 7 called up. Journalise the above transactions in the books of Y Ltd. (4)

Q. 10. Z Ltd. issued 12% debentures of Rs. 100 each valued at Rs. 4, 00,000 at a discount of 6%,
repayable at par in equal proportions at the end of the 2nd, 4th and 6th year. Calculate the amount of
discount to be written off at the end of each year  and prepare Discount on Issue of Debentures
Account.              (4)

Q. 11. Rohit Ltd. purchased for cancellation 1000 of its own 8% debentures of Rs. 250 each at Rs. 200
per debenture. The Board of Directors have also decided to transfer the required amount to
Debenture Redemption Reserve Account. Journalise the transactions in the books of Rohit Ltd. (4)

Q. 12. A, B and C were partners in a firm sharing profits in the ratio of 5 : 3 : 2. On 31st March, 2005
their Balance Sheet was:
Liabilities Rs. Assets Rs.
Creditors
Reserves
Capital Accounts :
A                30,000
B                25,000
C               15,000

B died on 1st October, 2005. It was agreed between his executors and the remaining partners that:
i. Goodwill be valued at 2 years’ purchase of the average profits of the previous five years,
which were 2001: Rs 15,000; 2002: Rs. 13,000; 2003: Rs. 12,000; 2004 Rs. 15,000 and 2005:
Rs. 20,000.
ii. Patents be valued at Rs. 8,000; Machinery at Rs. 28,000; Buildings at Rs. 30,000.
iii. Profit for the year 2005 - 06 be taken as having accrued at the same rate as the previous year.
iv. Interest on capital be provided at 10% p.a.
v. A sum of Rs. 4,250 was paid to his executors immediately.
Prepare B’s Capital Account and his executors account at the time of his death.   (6)

Q. 13. A Ltd. issued 20,000 equity shares of Rs. 10 each at a discount of Re. 1 payable as Rs. 3 on
application, Rs. 3 on allotment (after discount) and Rs. 3 on call. The issue was oversubscribed to the
extent of 15,000 shares, and the allotment was done as follows:
i. Applicants of 5,000 shares were given full allotment,
ii. Other applicants of shares were allotted shares on a pro-rata basis. The excess application
money received was to be adjusted against allotment only. All moneys due were received with
the exception of the call money on 600 shares. Pass necessary journal entries to record the
above transactions.            (6)

Q. 14. A, B and C were partners, sharing profits in the ratio of 5 : 3 2. Their Balance Sheet on
31.3.2005 was as follows:
Liabilities Rs. Assets Rs.Capital Accounts :
A                20,000
B                25,000
C               12,500
Bank Overdraft

The Joint Life Policy was for a sum of Rs. 30,000.  B died on 1st April, 2005, and the firm was
dissolved. Assets realised only 50% of its book value. Loan to B was adjusted against his capital. A
liability for Rs. 1,500 not shown in the Balance Sheet had to be paid. The expenses on realisation
came to Rs. 2,500. Prepare the Realization Account, Partners’ Capital Accounts and Cash Account to
close the books of the firm.    OR        (6)
Rohit and Suresh are in partnership, sharing profits in the ratio of 2 3. On March 31st 2005, they
agree to dissolve the business. Pass necessary journal entries at the time of dissolution to record the
following:
i. Realisation expenses amounted to Rs. 2,000.
ii. Deferred revenue advertising expenditure appeared at Rs. 60,000.
iii. P&L Account on the Assets side of the Balance Sheet was Rs. 30,000.
iv. An unrecorded asset of Rs. 3,000 was taken over by Suresh.
v. Liabilities amounting to Rs. 24,000, already transferred to Realization Ac count, were settled
at Rs. 22,000.
vi. Loan to Rohit was adjusted through his Capital Account, Rs. 15,000.

Q. 15. Given below is the Balance Sheet of Krishna and Suresh who are partners in a firm sharing
profits in the ratio of 3 : 2.
Liabilities Rs. Assets Rs.
Creditors
Reserves
Capital Accounts :
Krishna                30,000
Suresh                 20,000

On that date Mohan is admitted as a partner for 1/5th share on the following terms:
i. He is to contribute Rs. 14,000 as his share of capital which includes his share of premium for
goodwill. ii. Goodwill is valued at 2 years’ purchase of the average profits of the last 4 years, which were
Rs. 10,000; Rs. 9,000; Rs. 8,000 and Rs. 13,000 respectively.
iii. Plant to be written down to Rs. 25,000 and patents written up by Rs. 8,000.
iv. A Joint Life Policy taken in the names of the partners for Rs. 50,000, on which premiums have
been paid, has a surrender value of Rs. 5,000.
Prepare the Revaluation Account, Partners’ Capital Accounts and the Balance Sheet of the new
firm.      

OR       

X, Y and Z are in partnership sharing profits in the ratio of 5 : 3 : 2. Their Balance Sheet on 1.1.2006,
the day V decided to retire, was:
Liabilities Rs. Assets Rs.
X’s Capital
Y’s Capital
Z’s Capital
General Reserve
Sundry Creditors
Bills Payable
30,000
20,000
20,000
10,000
7,000
3,000
_____
90,000
Buildings
Plant & Machinery
Investments
Joint Life Policy
Debtors
Stock
Cash
25,000
15,000
10,000
15,000
10,000
5,000
10,000
90,000
The terms of retirement were:
i. Y sells his share of goodwill to X for Rs. 3,000 and to Z for Rs. 4,000.
ii. Stock to be appreciated by 20% and buildings by Rs. 5,000.
iii. Joint Life Policy is surrendered to the insurance Co. for Rs. 5,000 and in vestments were sold
for Rs. 22,000.
iv. Y is paid off in cash.
Prepare Revaluation Account, Capital Accounts of Partners and the Balance Sheet of the new
firm.

PART - B
(ANALYSIS OF FINANCIAL STATEMENTS)
+2 votes
answered Jan 9, 2016 by maaz Expert (2,228 points)
CBSE Board Previous Year Question Papers 2007 for Class 11 Accountancy Download
Previous Paper 2007
Class 11

Part 'A'
(Accountancy)
1. List any four items which can be credited to the Capital Account of a partner when
the Capital Account is fluctuating. 2

2. State the conditions according to Sec. 79 of Company Act 1956 for the issue of
shares at discount. 2

3. What is meant by ‘Preferential Allotment of Shares’ ? 2

4. Give the meaning of a Debenture. 2

5. Ram and Shyam were partners in a firm sharing profits in the ratio of 3 : 5. Their
Fixed Capitals were: Ram Rs. 5,00,000 and Shyam Rs. 9,00,000. After the accounts
of the year had been closed, it was found that interest on capital at 10% per annum as
provided in the partnership agreement has not been credited to the Capital Accounts
of the partners. Pass a necessary entry to rectify the error

6. AB Ltd. issued 5,00,000, 7% debentures of Rs. 50 each. Pass necessary journal
entries in the books of the company for the issue of debentures when debentures
were :
(i) Issued at par, redeemable at 8% premium,
(ii) Issued at 4% premium redeemable at 5% premium,
(iii) Issued at 5% premium redeemable at par. 3

7. Hari, Ravi and Kavi were partners in a firm sharing profits in the ratio of 3 : 2 : 1. They
admitted Guru as a new partner for l/7th share in the profits. The new profit sharing
ratio will be 2 : 2 : 2 : 1 respectively. Guru brought Rs. 3,00,000 for his capital and Rs.
45,000 for his l/7th share of goodwill. Showing your working clearly, pass necessary
journal entries in the books of the firm for the above mentioned  transactions. 4

8. Chander and Naresh were partners in a firm sharing profits in 3 :2 ratio. On 28.2.2007
their firm was dissolved. After the transfer of various assets (other than cash) and
third party liabilities to Realisation Account, the following transactions took place :
(i) An unrecorded asset costing Rs. 9,000 was taken over by Chander for Rs. 7,800.
(ii) Creditors Rs. 47,500 were paid Rs. 45,000 in full settlement of their claim,
(iii) Expenses of realisation Rs. 1,200 were paid by Naresh.
(iv) Loss on dissolution was Rs. 3,400.

9. Poonam Ltd. had a balance of Rs. 55,00,000 in its Profit and Loss account. Instead
of declaring a dividend it decided to redeem its Rs. 50,00,000, 8% debentures at a
premium of 10%. Pass necessary journal entries in the books of the company for the
redemption of debentures. 4

10. On 1st August 2006 K.M. Ltd. buys, 10,000, 9% debentures of Rs. 100 at Rs. 95
each cum interest, the dates of interest being March 31 and September 30. Record
necessary journal entries when debentures are purchased for cancellation. Show
your working also. 4

11. J.P. Ltd. purchased building costing Rs. 70,00,000 from M/s Construction Ltd. The
company paid Rs. 20,50,000 by cheque and for the balance issued equity shares of
Rs. 100 each in favour of M/s Constructions Ltd. Pass necessary journal entries in67/1/1 5
the books of J.P. Ltd. for the purchase of building and making payment if shares
were issued (a) at 10% discount and (b) at a premium of 25%. 4

12. Samta and Mamta were partners in a firm sharing profits in the ratio of 3 :1. On 1.3.2006
the firm was dissolved. On that date the Balance Sheet of the firm was as follows :
Balance Sheet of Samta and Mamta as on 1.3. 2006
Liabilities Amt. Assets Amt.
Rs. Rs.
Loan 70,000
Cash 20,000
Creditors 1,30,000
Capitals : Building 5,00,000
Rs.
Samta 3,00,000 Stock 30,000
Mamta 1,10,000 4,10,000 Profit and Loss Account 60,000
6,10,000 6,10,000
Building realised Rs. 6,50,000 and stocks Rs. 12,000. Rs. 1,29,000 were paid to the
creditors in full settlement of their claim. The firm had a joint life policy of
Rs. 5,00,000 which was surrendered for Rs. 1,27,000. The annual premium paid on
the joint life policy was debited to the Profit and Loss account.
Prepare Realisation Account, Cash Account and Partners Capital Accounts. 6
Or
Sameer and Sudhir were partners in a firm sharing profits in the ratio of 5 : 3. On
28.2.2007 the firm was dissolved. On the date of dissolution Sameer’s capital was
Rs. 2,40,000 and Sudhir’s capital was Rs. 1,80,000. Creditors on that date were
Rs. 80,000 and there was a balance of Rs. 1,36,000 in general reserve A/C. Cash
balance was Rs. 20,000.67/1/1 6
Sundry assets realised Rs. 7,50,000 and expenses on dissolution were Rs. 2,000
which were paid by Sudhir.
Prepare Realisation Account, Cash Account and Partners Capital Accounts. 6

13. Shakti Ltd. invited applications for issuing 2,00,000 equity shares of Rs. 100 each
at a premium of Rs. 10 per share. The amount was payable as follows :
On application Rs. 40 per share (including premium) on allotment Rs. 30 per
share and the balance on first and final call. Applications for 3,00,000 shares
were received. Applications for 40,000 shares were rejected and pro-rata
allotment was made to the remaining applicants. Over payments on applications
were adjusted towards sums due on allotment. Manoj who was allotted 2,000
shares failed to pay the allotment and first and final call money. His shares
were forfeited. The forfeited shares were re-issued at Rs. 90 per share fully
paid up. Pass necessary journal entries in the books of Shakti Ltd. showing the
working clearly. 6
Or
Pass necessary journal entries in the books of Raman Ltd. for the following
transactions :
(i) 400 equity shares of Rs. 100 each issued at a discount of 10% were forfeited
for the non-payment of final call of Rs. 20 per share. The forfeited shares were
re-issued for Rs. 38,000 fully paid up.
(ii) 300 equity shares of Rs. 100 each were forfeited for the non-payment of the
allotment money of Rs. 40 per share. The first and final call of Rs. 20 per share
was not made. The forfeited shares were re-issued for Rs. 29,000 fully
paid up.
+2 votes
answered Jan 9, 2016 by maaz Expert (2,228 points)
CBSE Board Sample Papers 2005 for Class 11 Accountancy Download
Guess Paper – 2005
Class – XI
Subject – ACCOUNTANCY

TIME : 3:00 hr           MM : 100
GENERAL INSTRUCTIONS:
1.This question paper contains two parts. Part 1 and Part 2
2.Attempt all questions
3.All parts of the questions should be attempted at one place

       PART-A

1.Explain the various uses of accounting information?       1

2.Name the various types of assets and liabilities?       1

3.Define accounting           1

4.Explain the accrual concept .          1

5.Explain the Going concern concept of accounting       1

6.Explain  the dual aspects in the following transaction:
Outstanding Salary Rs. 300          1

7.Explain the money measurement concept of accounting.      1

8.What are the difference between a debtor and creditor?       1

9.What are the uses of a trial balance?         1

10.Explain the following terms:
a.Journal
b.Ledger
c.Bank Reconciliation Statement         3

11.Draw the format of following subsidiary books:
a.Purchases day book
b.Sales day book
c.Petty cash book           3

12.Journalise the following:
1-1-2009. Started business with cash Rs. 25,000
2-1-2009. Purchased furniture from Rajan Rs. 15,000
3-1-2009. Sold goods to Sukumaran Rs. 50,000
4-1-2009. purchased stationary for Rs. 300
5-1-2009. Paid Salary Rs 500.          3

13.Prepare a Trial Balance from the following Data:
Cash  25,000  Capital    50,000
Debtors 30,000  Creditors  30,000
B/R  15,000  B/P   25,000
Land   20,000  Overdraft  30,000
Plant  60,000  Profit   15,000      3

14.Explain the various types of source documents and name any three.     3

15.Name  the various accounting concepts        4

16.Prepare a bank reconciliation Statement from the following data:
a.Balance as per Pass book Rs. 30,000
b.Cheque deposited into bank but not presented for payment Rs. 25,000
c.Cheque send for collection dishonored Rs.15,000
d.Bank charges debited not entered in the cash book Rs. 500
e.Interest charged on deposit not entered in the cash book Rs. 400
f.Cheque issued but not presented for payment Rs. 6,500      4

17.Explain the qualitative characteristics of accounting information?     4

18.Explain the following :
a.Reliability
b.Comparability.           6

19.Prepare a Double column cash book form the following data:
1-1-2010  Opening Balance: cash 25,000 bank14,000
2-1-2010  Purchased goods for cash Rs. 30,000
5-1-2010  Sold goods for cash Rs. 80,000
6-1-2010  Paid rent Rs. 500
7-1-2010  Paid salary by cheque Rs1, 500
11-1-2010  Received cheque from Rajan Rs. 11,000
12-1-2010  Paid to Somu through cheque Rs. 12,000
15-1-2010  Cheque received form Rojan dishonored   Rs. 15,000
20-1-2010  Paid rent through cheque Rs.  600
31-1-2010 Received commission through cheque Rs. 400      6

20.On 1st January 2010  sold goods to Bakri for Rs. 45,000.
On 10th  January 2010 sold old typewriter for cash Rs 600.
On 12nd January 2010 withdrawn cash from bank for office use  Rs15,000 .
Prepare credit vouchers for the above transaction of M/s Fukre & co.

21.State the nature of the accounts(personal ,real, nominal)
(a) Building (b) Purchases (c) Sales (d) Bank Deposit (e) Rent (f) Rent Outstanding (g) Cash (h) Adjusted Purchases (i) Closing Stock (j) Investments (k) Debtors (l) Sales Tax Payable (m) Discount Allowed (n) Bad Debts (o) Capital (p) Drawings              8

PART B

22.Explain the difference between cash discount and trade discount?     2

23.Explain the process of accounting :         4

24.Calculate total assets if :
(i)
Capital is
Rs 40,000
(ii)
Creditors are
Rs 25,000
(iii)
Revenue during the period is
Rs 50,000
(iv)
Expenses during the period is
Rs 40,000
                          4
25.From the following, prepare a trial balance of Anuj & Ashwin Traders as on 31 March 2010.  6
Account Head     Rs .
Capital      1,00,000
Sales     1,66,000
Purchases     1,50,000
Sales return     1,000
Discount allowed    2,000
Expenses     10,000
Debtors     75,000
Creditors     25,000
Investments     15,000
Cash at bank and in hand   37,000
Interest received on investments   1,500
Insurance paid     2,500

26.Explain the advantages of  Accounting          6

27.Show the accounting equation on the basis of the following transactions:               6
i.Sohan started business with cash Rs.50,000
ii.Salaries paid RS 2,000.
iii.Wages outstanding Rs 200.
iv.Prepaid insurance Rs.700.
v.Interest due but not paid Rs.700.
vi.Rent paid in advance Rs.100.
Deeoak gupta started business on 1st April,2001 with plant and machinery worth Rs 400,000,furniture worth Rs 100,000,building worth Rs 500,000 and cash Rs 100,000.journalise the following transactions for the month of April, prepare ledger accounts and take out a trial balance.
+2 votes
answered Jan 9, 2016 by maaz Expert (2,228 points)
CBSE Board Sample Papers 2010 for Class 11 Accountancy Download
Subject – Accountancy

(Set-1)

Time Allowed:3hours                                             M.M.:8
General instructions:
(a)    This question paper is divided into two parts i.e Part- A and Part- B.
(b)    All questions are compulsory. Attempt all parts of a question at one place only.
(c)    Marks are indicated against each question.
(d)    Show all the working notes very clearly.

PART- A

Q.1    Why and by whom is an ‘Income and Expenditure Account is prepared?    (1)

Q.2    State any two items that may appear on debit side when capitals are fixed.    (1)

Q.3    How are accumulated profits and losses adjusted at the time of admission of a partner? Give journal entry.    (1)

Q.4    What do you mean by ‘Super Profit’?    (1)

Q.5    What do you mean by debentures issued as collateral security?    (1)

Q.6    On the basis of the following information, calculate the amount of stationery to be shown in the Income and Expenditure A/c for the year ended 31st March, 2007.
Rs.
Stock of stationery as on 1-04-2006                                                    1,00,000
Stock of stationery as on 31-03-2007                                                     80,000
Amount paid for stationery during the year                                         4,00,000
Creditors as on 1-04-2006                                                                      40,000
Creditors as on 31-03-2007                                                                    20,000
(3)

Q.7    State the conditions under which shares can be issued at discount.    (3)

Q.8    A limited company issued 1,000 equity shares of Rs.100 each as fully paid up in consideration of the purchase of plant and machinery worth Rs.99,000. Make entries in the books of the company.     (3)

Q.9    X, Y and Z are partners in a firm sharing profits in the ratio of 5:3:2. They decide to share future profits and losses in the ratio of 2:3:5 with effect from 1st April, 2006. They also decide to record the effect of the following revaluations without affecting the book values of the assets and liabilities, by passing a single adjustment entry:
Book Value                             Revalued Value
                                                                                Rs.                                              Rs.
Land and Building                                                1,00,000                                      1,50,000
Plant and Machinery                                            1,50,000                                      1,40,000
Trade Creditors                                                    50,000                                         45,000
Outstanding Expenses                                         45,000                                         60,000
Pass the necessary single adjustment entry.                       (4)

Q.10(a) Calculate interest on drawings of Mr.X if he withdraws Rs.1,200 at the end of every month, assuming interest on drawings is calculated @ 10 % p.a.
(b) Ram and Mohan are partners in a firm sharing profits and losses in the ratio of 3:2. Their fixed capitals were Ram: Rs.1,20,000, Mohan : Rs.90,000. For the year 2006 interest on capital was credited to them 6% instead of 5%. Give necessary adjusting entry for the rectification of the error. Show working notes clearly.            (4)

PART- B

Q.1.Why and by whom is an ‘Income and Expenditure Account is prepared?   (1)

Q.2.State any two items that may appear on debit side when capitals are fixed.   (1)

Q.3.How are accumulated profits and losses adjusted at the time of admission of a partner? Give journal entry.(1)

Q.4.What do you mean by ‘Super Profit’?    (1)

Q.5.What do you mean by debentures issued as collateral security?     (1)

Q.6.On the basis of the following information, calculate the amount of stationery to be shown in the Income and Expenditure A/c for the year ended 31st March, 2007.

Rs.Stock of stationery as on 1-04-2006 1,00,000

Stock of stationery as on 31-03-2007 80,000

Amount paid for stationery during the year 4,00,000

Creditors as on 1-04-2006 40,000

Creditors as on 31-03-2007 20,000

(3)

Q.7.State the conditions under which shares can be issued at discount.     (3)

Q.8.A limited company issued 1,000 equity shares of Rs.100 each as fully paid up in consideration of the purchase of plant and machinery worth Rs.99,000. Make entries in the books of the company.       (3
+2 votes
answered Jan 9, 2016 by maaz Expert (2,228 points)
CBSE Board Sample Papers 2009 for Class 11 Accountancy Download
Sample Paper 2006
Accountancy
CLASS :XI
(set-3)
Maximum Marks: 100                                                                 Time Allowed : 03 Hrs.
General Instructions: -
1        This question paper contains 21 questions.
2        All questions are compulsory.
3        The figure in the braket indicates Marks allotted to each question.
4         Candidates can attempt the question in chronological order.


Q1.Point out one transaction which will affect capital only in an accounting equation? (2)

Q2.Distinguish between a promissory  note and a bills of exchange.                            (2)

Q3.Give two examples of capital reserve.                                    (2)

Q4.Calculate the closing capital to be shown in balance sheet of Mr.Niskarsh from the following particulars .               (3)
     Capital on the opening date               Rs.50,000
     Drawing during the year                     Rs.20,000
     Interest on drawing                             Rs.2,000
     Interest on capital                               Rs.5,000
     Profit for the year                               Rs.10,000      

Q5.How can you arrange the Assets and Liabilities in a Balance sheet ?                        (3)

Q6.Enter the following transactions in a Sales  Book:

       2005
Sept. 1,Sold to Malhotra Bros. NewDelhi.
  100 Lux soap@ Rs. 10 per soap.
  200 Lux sampoo@ Rs. 2 per sampoo.
Less -   10% Trade Discount.

Sept. 10     Sold to Sanskar & Co. Raipur.
250 Parachute Hair Oil bottle @ Rs.20 per bottle
500 Vaseline Body Lotion Packets @ Rs.5 per packet
Delivery Charge Rs. 50/-
Less – 10% Trade Discount             (3)

Q7.Explain how are Accounting Standards derived?                          (3)

Q8. Explain the users of accounting informations.                                (4)

Q9.A machine was  purchased for Rs. 40,000 on 31.03.2003. Rs. 2,000 were spent for carrying cost and Rs. 3,000 were spent for installing the machine. The estimated life of the machine is fixed at 5 years after which the machine will provide Rs. 4,000 as scrap value. Calculate the amount of depreciation for the years 2003, 2004 and 2005 assuming the accounting year is
ended on 31st December energy year.                                             (4)

Q10.   Prepare a Bark Reconciliation statement from the informations given below :-       
 (i) Bank overdraft as per cash book as on 30th April  ,2005 Rs. 2,000.
 (ii) Cheques issued but not  presented for payment Rs.1,250.
 (iii) Rs. 25 charged by the bank on account of bank charges not yet entered in the cash book.
 (iv) Rs. 800 in respect of a dishonored cheque were recorded in the pass book but not in cash book.
 (v) Interest charged by the bank Rs.75 but not entered in the cash book.                (4)

Q11.   How do you identify the hidden adjustments while preparing the final account.                  (4)

Q12.   Miku accepted a bill drawn by Chiku for Rs.5,000 after  3 months on January , 1 , 2005. On the due date, Miku becomes insolvent and a dividend at the rate of 40 paise in a rupee was received. Pass necessary journal entries in the books of  Chiku and Miku.                    (4)

Q13.   Rectify the following errors.

a.Purchase Book overcastted by Rs. 3,000
b.Purchase of machine for Rs. 5,000 was entered in the debit side of purchase account.
c.Sold goods to Mohan Rs. 12,000 entered in debit side of Sohan’s account as Rs. 1,200.
d.A major repairs to building Rs.25,000 was debited to  repairs account.
e.Cash received from Shankar Rs. 4,000 was completely omitted to record.
f.Sales book undercasted by Rs. 2,500.                                               (6)

Q14.What are the financial statements? What information do they provide?            (6)

Q15.(a) Calculate Gross Profit from the following particulars :

      Cost of good sold      -  Rs.24,000
      Gross Profit  -  25% on sales
   
 (b) Explain the following Principles :-                                                          

(i)Historical Cost.
(ii)Accounting Entity.
(iii)Materiality.                                 (3x2 =6)

Q16.Explain the following terms in accounting with examples: -               

(a)    Debtors.
(b)    Creditors
(c)    Liabilities
(d)    Debit
(e)    Expenditure
(f)     Bank Overdraft                                             (6)

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