MOTHER TERESEA SR. SEC.

SCHOOL
EXAMINATION TERM-II (2021-22)
CLASS-XI
SUB-ACCOUNTANCY (055)

TIME ALLOWED -2 HRS MM-40

GENERAL INSTRUCTIONS:
1. There are total 12 questions in this question paper and attempt all
parts of a question together
2. Answers to questions carrying 2 marks are short answer type-I
questions.
3. Answer to questions carrying 3 marks are short answer type-II
questions.
4. Answer to questions carrying 5 marks are long answer type
questions.
[Link] is no overall choice. However, an internal choice has been
provided in 3 questions of three marks and 1 question of five marks.
S.N QUESTIONS M
PART-A (FINANCIAL ACCOUNTING-I)
Q1. Name two type of errors with examples which do not affect the 2
trial balance.
Q2. “I owe you ₹ 50000”. Is it a promissory note? And also write 2
two distinction between bill of exchange and promissory note.
The basis of distinction are: Order and Promise & acceptance.
Q3. Rectify the following entries. 3

• Goods costing ₹1,000 have been purchased on credit from t

Sohan, but no entry has been made the books, although
the goods were taken into stock.
• Goods purchased on credit from Pawan for ₹ 400 was
recorded as ₹ 4,000 in purchase book.
• An amount of ₹ 2,500 spent for the extension of the
machinery has been debited to wages account.
OR
Fill in the missing figures/information in the rectifying
Journal entries:
Journal of Rama
Date Particulars L Debit Credit
F (₹) (₹)

a. ---------------------- Dr 2,500
To --------------------- 2,500

(Sales Return book over cast by ₹

2,500, now being rectified)

b. --------------------- Dr -------
--------------------- Dr -------
To Furniture 6,000
(Old furniture sold for ₹ 6,000
wrongly credited to sales
account as ₹ 2,000, now being
rectified)

c. Sundry Debtors A/c Dr 15,000

To --------------------- 15,000
(Customers’ A/c not recorded
in the list of Sundry
Debtors, now being recorded)
Q4. Kuldeep sold goods for Rs.24,000 to Kartik on 30th October, 5
2020 and drew three bills for Rs.12,000, Rs.4,000 and
Rs.8,000 payable after two, three and four months
respectively. The first bill was kept by himself till maturity. He
endorsed the second bill in favour of his creditor Aryan. The
third bill was discounted on 3rd December, 2020 at 12% p.a.
The first bill was duly met on maturity but the second and
third bill was dishonoured and the bank paid Rs.50 as noting
charges and Chanchal also paid noting charge of Rs. 150. On
due date of dishonoured bill drawee paid Rs.2,000 for second
bill and Rs. 4000 for last bill and noting charges in cash and
accepted a new bill at two months after date for the balance
amount plus interest of Rs.100, Rs.300. The bill was met on
maturity by Kartik. You are required to give journal entries in
the book of Kuldeep.
PART-B (FINANCIAL ACCOUNTING-II)
(SECTION-A)
Q5. Calculate capital at the beginning from the following 2
information:
• Capital at the end of the year ₹ 4,00,000
• Withdrew ₹ 5000, P.M. for household expenses
• Sold his personal investment of ₹ 80,000 at a profit of 25%
and introduced that amount into business.
• Profit of the current year ₹ 80,000.
Q6. Write any two short notes on the followings: 2
1. Accrued Income

2. Unearned Income

3. Provision for doubtful debts.

Q7. From the following balances extracted from the books of 3
Karan, Prepare Trading account for the year ended 31st
March, 2019.
Debit Credit
Particulars Balance Balance
₹ ₹
Stock on 1st April, 2018 6,25,000 –
Purchases and Sales 9,03,000 16,12,000
 Returns 22,000 13,000
Direct Expenses 75,000 _

16,25,000 16,25,000
(i) Closing stock on 31st March, 2019 is valued at ₹ 650000.
Goods
worth ₹ 5000 are reported to have been taken away by the
proprietor for his personal use at home during the year.
OR
Prepare Trading account form the following particulars for the
year ended 31st March, 2021.
(₹ ) Particulars (₹ )
Particulars

Stock on 1st 22,000

2,50,000 Return Outwards
April, 2020
Purchases 7,00,000 Return Inwards 36,000
Sales 18,00,000 Gas, Fuel and 75,000
Power
Wages 2,06,000 Dock charges 8,000
Carriage inward 34,000 Factory lighting 96,000
Carriage outward 20,000 Office lighting 5,000
Manufacturing 2,48,000
expenses

(i) Closing stock is valued at ₹ 6,00,000.

Q8. (a) What is meant by Operating Profit? 3

(b) Calculate gross profit when total purchases during the
year are Rs.8,00,000; returns outwards Rs.20,000; direct
expenses Rs.60,000 and 2/3rd of the goods are sold for
Rs.6,10,000.
Q9. a) What do you mean by incomplete records? State any two 5
features of an incomplete record.
b) Explain the term ‘deferred revenue expenditure’ with the
help of an example.
OR

Shruti maintain her books of accounts from incomplete records.

Her books provide the following information.
Particulars 1-4-2019 (₹) 1-4-2020 (₹)
Cash 12,000 16,000
B/R ---- 24,000
Debtors 1,68,000 2,72,000
Stock 2,24,000 2,44,000

Investment ---- 80,000

Furniture 75,000 80,000
Creditors 1,40,000 1,52,000

She withdrew ₹ 1,000 per week for personal expenses. She

sold her investment of ₹ 1,60,000 at 2% premium and
introduced that amount into business.

You are required to prepare of profit or loss account for the

year ending march 31, 2020.
Q10. The following is the Trial Balance of Mr. X as on 31st March 5
2020:
Particulars ₹ (Dr.) ₹ (Cr.)
Cash in Hand 1,080 -
Cash at Bank 5,260 -
Purchases/Sales 81,350 1,97,560
Returns 1,360 1,000
Wages 20,960 -
Fuel & Power 9,460 -
Carriage on sales 6,400 -
Carriage on purchases 4,080 -
Stock (1.04.15) 11,520 -
Building 60,000 -
Freehold land 20,000 -
Machinery 40,000 -
Salaries 30,000 -
Patents 15,000 -
General Expense 6,000 -
Insurance 1,200 -
Drawings/Capital 10,490 1,42,000
Sundry Debtors/creditors 29,000 12,600
3,53,160 3,53,160

Taking into account the following adjustments, Prepare only

Profit &
Loss Account and the Balance sheet:

• Stock on hand on 31st March 2020 is ₹ 13,600.

• The Gross Profit is ₹ 87,430.
• Machinery is to be depreciated at 10% p.a. and patents at
20% p.a.
• Salaries for the month of March 2020 amount to ₹ 3,000
were
 unpaid.
• Insurance includes a premium of ₹ 170 for year 2020-21.
• Wages include a sum of ₹ 4,000 spent on the erection of a
cycle shed for employees and customers.

• A provision for doubtful debts is to be created to the extent

of 5% on sundry debtors.

PART-B (COMPUTERS IN ACCOUNTING)

(SECTION-B)
Q11. State the meaning of computer? Describe the capabilities of 3
computer system.
OR
What is meant by the accounting information system? Write
any two limitations of computerized accounting system.
Q12. Explain briefly any Five advantages of computerized accounting 5
system over the manual system.