DELHI PUBLIC SCHOOL, GBN

SESSION 2024-25
SAMPLE PAPER 2
CLASS XI- ACCOUNTANCY (055)
DURATION: 3 Hours MM: 80
Q. Part Question Marks
No No.

1. The business documents which serves as the evidence of the business 1

transactions are known as a)Notes c)First hand documents b)Source documents
d)Bill

2. Assertion (A): Accounting is an art as it involves recording, classifying, 1

summarising business transactions with a view to ascertain the net profit.
Reason (R): Accounting is a science since it is based on certain specified
principles and accounting standards.
a)Both A and R are true and R is the correct explanation of A.
b)Both A and R are true but R is not the correct explanation of A.
c)A is true but R is false.
d)A is false but R is true.

3. Sundry Creditors Account is a: 1

a)Liability Account c)Capital Account
b)Asset account d)Revenue Account

4. Calculate the amount of cash if: other assets( Except Cash) = Rs.10,000 1
liabilities= Rs.10,000 Total Capital= Rs.5000
a)Rs.3000 b)Rs.1000 c)Rs.5000 d)Rs.10000

5. Pay-in-slip is a 1
a)Document drawn upon a specified banker and payable on demand
b)Both of these
c)Source document for having deposits made in the bank
d)Document containing account detail

6. Which stakeholder would be most interested in the earning capacity of a business 1

firm?
a)Government and other regulators b)Customers
c)Investors d)Suppliers

7. Radheshyam is a furniture dealer. Which one of the following will not be 1

recorded in his books?
A. Purchase of Timber for Rs 50,000
B. Sofa set worth Rs 40,000 taken to his home
C. Sale of household furniture for Rs 5,000
D. Dining table of Rs 30,000 given to his friend as a gift
a)Only A b)Only D c)Only B d)Only C

8. Balance of Capital Account is shown as: 1

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 a)Liability Account b)Revenue Account
c)Asset accounT d)Capital Account

9. The accounting principle that conforms to the tendency of accountants to resolve

uncertainty and doubt in favour of understanding assets and revenues and
overstating liabilities and expenses is known as
a)Consistency b)Conservatism c)Materiality d)Industry practice

10. Under the Cash Basis of Accounting, expenses are recorded: 1

a)on event b)both payment and on being incurred
c)on being incurred d)on paymenT

11. Which reserve are created for specific purpose 1

a)Specific Reserve b)Dividend equalization fund
c)Capital Reserves d)Dividend fund

12. Which of the following is Revenue Expenditure? 1

a)Purchase of Investments b)Expenses on purchase of Machinery
c)Building Construction Expenses d)Repair Expense

13. The periodic total of sales return journal is posted to 1

a)Goods account b)Sales return account
c)Purchases return account d)Sales account

14. Main elements of accounting equation are: 1

a)Bank balance, Investments and Bills Receivable
b)Capital, Creditors and Bills Payable
c)Assets, Liabilities and Capital
d)Cash, Stock and Debtor

15. Out of the following assets which one is not an intangible asset? 1
a)Investments b)Patents c)Goodwill d)Trademark

16. The advantages of Sales Book are: 1

a)All of these
b)Easiness in preparing Trading Account
c)Price of goods sold to each party
d)Knowledge of total price of goods sold on credit

17. Reserve created by undervaluation of closing stock is called: a)Secret Reserve 1

c)General Reserve b)Capital Reserve d)Specific Reserve

18. Sales invoices are first entered in 1

A) The Cash Book
B) The Purchases Journal
C) The Sales Journal
D) The Sales Account

19. When a petty cash book is kept there will be 1

A) No entries made at all in the general ledger for items paid by petty cash
B) The same number of entries in the general ledger
C) Fewer entries made in the general ledger
D) More entries made in the general ledger
Answer: C

20. If a trial balance totals do not agree, the difference must be entered in 1
A) The Profit and Loss Account
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 B) A Nominal Account
C) The Capital Account
D) A Suspense Account

21. What is the difference between trade discounts and cash discounts? 3

22. Prepare Trail balance from the following information: 3

Cash in hand ₹3,000, Stock ₹43,000, Goodwill ₹17,000, Capital ₹60,000,
Creditors ₹ 20,000, Debtors ₹ 82,000, Sales ₹70,000, Bills receivable ₹ 5,000.

23. Distinguish between Provision and Reserve on the basis of 3

a) Nature b) purpose iii) Effect on profit
Or
State briefly the necessity of providing depreciation. (Three points)

24. Show the effect of the following transactions on the accounting equation: 3
(a) Started business with cash ₹ 50,000
(b) Salaries paid ₹ 2,000
(c) Wages Outstanding ₹ 200
(d) Rent paid in advance ₹ 150
Or
Journalize the following transactions.
a) Goods given as charity Rs 500
b) Loss of stock by fire Rs 1,000
c) Salaries due to staff Rs 15,000

25. Rectify the following errors. 3

a) A payment of Ankit of ₹ 780 was recorded as 870
b) Sales return book under cast by ₹ 100
c) Purchase return book has been under cast by ₹ 500

26. Operating profit earned by M/s Arora & Sachdeva in 2016-17 was ₹ 17,00,000. Its 3
non-operating incomes were ₹ 1,50,000 and non-operating expenses were ₹
3,75,000. Calculate the amount of net profit earned by the firm.

27. Explain any four objectives of accounting. 4

Or
Explain in brief the following accounting concepts
a) Dual aspect concept b) Revenue recognition concept
c) Cost concept d) Business entity concept

28. Calculate the value of profit earned during the period of opening capital is ₹ 50,000, 4
drawings is ₹ 5,000, additional capital introduced during the period is ₹ 20,000, closing
capital ₹ 1,00,000.

29. Rectify the following errors and find the amount of difference in trial balance by preparing a 4
suspense account:
(a) Credit sales made to Mohan of Rs 7,000 was not posted.
(b) Credit purchases made from Rohan of Rs 9,000 were not posted.
(c) Goods returned to Rakesh for Rs 4,000 was not posted.
(d) Goods returned from Mahesh of Rs 1,000 was not posted.
(e) Cash paid to Ganesh Rs 3,000 was not posted.
(f) Sales made in cash of Rs 2,000 were not posted.

30. From the following transactions, prepare a cash book with cash and bank 6
columns:
Date Transactions Amount
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 2024 Balance of cash in hand 24,000
Oct1 Bank 20,000
6 Received cash from Rajeev 1,000 and
allowed discount 30
10 Paid into bank 2,000
15 Paid to karan by cheque 320 in
full settlement of his account for 350
18 Received cash from sales and 275
by cheque 350
20 Purchases by cheque 645
25 Paid by cheque of Sagar 725 in full
settlement of 800
28 Drew from bank for office use and 900
Personal use 100

31. On 31st Dec. 2022 the Cash Book on Jain works showed an overdraft of ₹5,600 6
from the following particulars make out a bank reconciliation statement.
(a) Cheque drawn but not cashed before 31st Dec. 2022 amounted to
₹3,946.
(b) Cheque paid into bank but not collected and credited before 31st
December amount to ₹4,891.
(c) A bill received for ₹520 previously discounted with the bank had
been dishonoured and debited in the pass book.
(d) Bank charges debited in the pass book amounted to ₹55.
(e) Debit is made in the pass book for ₹120 on account of interest on
overdraft.
(f) The bank has collected interest on investment and credited ₹760 in
the pass book.

32. Saraswati Ltd. purchased machinery costing Rs. 10,00,000 on January 01, 2011. 6
The company purchased a new piece of machinery on May 01 2012, for Rs.
15,00,000 and another on July 01, 2014, for Rs. 12,00,000. Part of the
machinery, which originally cost Rs. 2,00,000 in 2011, was sold for Rs. 75,000
on October 31 2014. Prepare the machinery account, provision for depreciation
account and machinery disposal account from 2011 to 2015 if depreciation is
charged at 10% p.a. on original cost and the account is closed on December 31,
every year.

33. On comparing the cash book with the passbook of Naman, it is found that on 6
March 31, 2017, the bank balance of ₹40,960 shown by the cash book differs
from the bank balance about the following:
● Bank charges ₹100 on March 31, 2017, are not entered in the cash book.
● On March 21, 2017, a debtor paid ₹2,000 into the company’s bank in
settlement of his account, but no entry was made in the company's cash
book in respect of this.
● Cheques totaling ₹12,980 were issued by the company and duly recorded
in the cash book before March 31, 2017, but they were not presented at
the bank for payment until after that date.
● A bill for ₹6,900 discounted with the bank is entered in the cash book
with a recording of the discount charge ₹800.
● ₹3,520 is entered in the cash book as paid into the bank on March 31st,
2017, but not credited by the bank until the following day.
● No entry has been made in the cash book to record the dishonour or, on
March 15, 2017, of a cheque for ₹ 650 received from Bhanu.

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 Prepare a reconciliation statement as of March 31, 2017.

34. From the following information, prepare the trading and profit and loss account 6
for M/s Indian sports house for the year ending March 31, 2017.

Account Title Amount Account Title Amount

₹ ₹

Drawings 20,000 Capital 2,00,00

0

Sundry debtors 80,000 Return outwards 2,000

Bad debts 1,000 Bank overdraft 12,000

Trade Expenses 2,400 Provision for bad 4,000

debts

Printing and Stationery 2,000 Sundry creditors 60,000

Rent Rates and Taxes 5,000 Bills payable 15,400

Freight 4,000 Sales 2,76,00

0

Return inwards 7,000

Opening stock 25,000

Purchases 1,80,00
0

Furniture and Fixture 20,000

Plant and Machinery 1,00,00

0

Bills receivable 14,000

Wages 10,000

Cash in hand 6,000

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 Discount allowed 2,000

Investments 40,000

Motor car 51,000

5,69,40 5,69,40
0 0

Adjustments to be made:
1. The closing stock was valued at ₹ 45,000.
2. Provision for doubtful debts is maintained at 2% of debtors.
3. Depreciation is charged on: furniture and fixture at 5%, plant and
machinery at 6% and motor cars at 10%.
4. A Machine costing ₹ 30,000 was purchased by the business on October
01, 2016.
5. The manager is entitled to receive a commission of 10% of the net profit
after charging such a commission.

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