Class 11 Accountancy – 80 Marks

Worksheet
SECTION A (Q.1 – Q.20) (1 mark each)

1. If accounting information is free from bias and can be verified, it is said to have:

A) Relevance B) Reliability C) Understandability D) Comparability

2. Which of the following is a nominal account?

A) Furniture B) Rent C) Debtors D) Cash

3. On which basis of accounting, revenues are recognized only when cash is received?

4. If Assets = ₹2,00,000 and Liabilities = ₹80,000, Capital = _____.

5. Debit what comes in, credit what goes out — belongs to which type of account?

6. Source documents are used for:

A) Authorizing transactions B) Providing evidence C) Recording entries D) All of

7. Purchase of furniture is recorded in:

A) Purchase Book B) Journal Proper C) Ledger D) Cash Book

8. If goods are returned to supplier, which book is used?

9. In Bank Reconciliation Statement, unpresented cheques are:

A) Added to Cash Book balance B) Subtracted from Cash Book balance

C) Added to Passbook balance D) Subtracted from Passbook balance

10. Closing stock appears in:

A) Trading A/c B) Balance Sheet C) Both A & B D) P&L A/c

11. Which of the following error will affect trial balance?

A) Error of Commission B) Error of Omission C) Compensating Error D) Error of

12. What is the rate of CGST if total GST rate is 12%?

13.Journal is called:

A) Book of Original Entry B) Book of Secondary Entry C) Ledger D) Trial Balance

A) Capital B) Bank Loan C) Cash D) Outstanding Rent

15. Depreciation is charged on:

A) Current Assets B) Fixed Assets C) Liabilities D) Capital

16. Which principle is based on “do not anticipate profits but provide for all losses”?

17. Give one cause of difference between Cash Book and Passbook balance.

18. Give two examples of current assets.

19. Name the two methods of providing depreciation.

20. State one feature of Double Entry System.

SECTION B (Q.21 – Q.26) (3 marks each)

21. Distinguish between Trade Discount and Cash Discount (any 3 points).

22. Explain any three Qualitative Characteristics of Accounting Information.

23. Show effect of the following on Accounting Equation:

(a) Started business with cash ₹80,000

(b) Purchased goods on credit from Ram ₹20,000

(c) Paid rent ₹5,000

24. Journalize the following transactions (GST @ 12%):

(a) Purchased goods from X for ₹10,000

(b) Sold goods to Y for ₹20,000

(c) Paid wages ₹2,000

25. Enter the following transactions in Purchases Return Book:

(i) Returned goods to Mohan ₹4,000 (less 10% trade discount)

(ii) Returned goods to Sohan ₹3,000 (no discount)

26. State any three causes of difference in Bank Reconciliation Statement.

SECTION C (Q.27 – Q.29) (4 marks each)

27. Prepare a Purchases Book for the following transactions (Trade Discount 10%):

(i) Purchased from Ram 10 chairs 1,500

(iii) Purchased stationery for cash ₹2,000

28. Post the following transactions into Ledger Accounts:

(a) Purchased goods for cash ₹5,000

(b) Sold goods for cash ₹8,000

(c) Paid to creditor ₹3,000

(d) Received from debtor ₹4,000

29. Rectify the following errors:

(i) Sales book was undercast by ₹2,000

(ii) Goods purchased from Sita for ₹5,000 wrongly credited to Gita

(iii) Repairs to building ₹1,000 debited to Building A/c

(iv) Discount allowed ₹200 posted to Discount Received A/c

SECTION D (Q.30 – Q.34) (6 marks each)

30. Explain Cash Basis and Accrual Basis of Accounting with examples.

Q.31 – Accounting Equation (Lengthy)

Apr 1 – Ankit started business with cash ₹1,00,000, Furniture ₹20,000 and Stock
₹30,000.

Apr 3 – Opened Bank Account and deposited ₹40,000.

Apr 5 – Purchased goods from Rohit ₹25,000 and from Mohit ₹15,000.

Apr 8 – Returned goods to Rohit ₹5,000.

Apr 10 – Sold goods costing ₹20,000 to Sohan for ₹30,000 on credit.

Apr 15 – Received half payment from Sohan by cheque and allowed him 5% discount.

Apr 18 – Paid full amount to Mohit by cheque in full settlement allowing him 2% cash
discount.

Apr 20 – Paid rent in advance ₹6,000.

Apr 25 – Owner withdrew goods for personal use costing ₹3,000.

Apr 30 – Interest on capital provided @10% p.a.Paid full amount to Mohit by cheque in
full settlement allowing him 2% cash discount.
Q.32 – Journal with GST (Lengthy)

Journalize the following transactions in the books of M/s Sharma & Co. (Assume IGST @
18% wherever applicable):

2023

May 1 – Purchased goods from M/s Rajesh Traders ₹50,000 (on credit).

May 3 – Returned goods to Rajesh Traders worth ₹5,000.

May 6 – Sold goods to M/s Rohit & Co. for ₹80,000 on credit.

May 10 – Received cash from Rohit & Co. after allowing 10% discount and deposited
into bank.

May 12 – Purchased Furniture for ₹25,000 for cash.

May 15 – Paid Salary by cheque ₹15,000 and Wages in cash ₹5,000.

May 18 – Paid Insurance Premium for next year ₹12,000.

May 20 – Sold old furniture for ₹10,000 (book value ₹12,000), payment received by
cheque.

May 25 – Received commission by cheque ₹6,000.

May 28 – Paid carriage outward ₹2,000 in cash (No GST).

Q.33 – Double Column Cash Book (Lengthy)

Prepare a Double Column Cash Book from the following transactions:

2023

Jan 1: Cash in hand ₹20,000; Bank overdraft ₹10,000.

Jan 2: Introduced additional capital ₹50,000 out of which ₹40,000 deposited in bank.

Jan 3: Purchased goods for cash ₹15,000.

Jan 5: Sold goods for cash ₹12,000.

Jan 7: Received cheque from Aman ₹8,000, allowed him discount ₹200.

Jan 9: Deposited Aman’s cheque into bank.

Jan 11: Paid to supplier by cheque ₹5,000, availed discount ₹100.

Jan 14: Withdrew from bank for office use ₹5,000.

Jan 18: Received cheque from Ramesh ₹5,000, endorsed it to Suresh

Jan 21: Bank charged interest ₹500 not yet recorded.

Jan 25: Deposited additional cash into bank ₹10,000.

Jan 28: Paid rent by cheque ₹4,000.

Jan 31: Drew cash for personal use ₹2,000.

Q.34 – Depreciation / Asset Account (Lengthy)

A company purchased a machine on 1st April 2020 for ₹1,20,000 and spent ₹10,000 on
installation.

On 1st October 2021, additional machinery was purchased for ₹60,000.

On 1st July 2022, first machine was sold for ₹1,00,000 (depreciation charged till date).

Depreciation is provided @10% p.a. on Straight Line Method.

Prepare Machinery Account for three years ending 31st March 2023

SECTION D

Case Based Question – 1 (Accounting Concepts & Equation)

Case:

Mr. Rohan started a furniture business on 1st April 2023 with the following
transactions:

Apr 1 – Introduced capital of ₹1,00,000 in cash and Furniture worth ₹50,000.

Apr 3 – purchased goods from M/s Mohit Traders for ₹30,000 on credit.

Apr 5 – Paid ₹10,000 to Mohit Traders in full settlement of ₹10,500.

Apr 7 – Sold goods to Ajay for ₹20,000 costing ₹12,000 on credit.

Apr 10 – Received full payment from Ajay after allowing 5% discount.

Apr 12 – Paid rent for next two months ₹4,000.

Apr 15 – Goods withdrawn by Rohan for personal use ₹2,000.

Questions:

a) Identify two accounting concepts applied in the above case.

b) Show the effect of the above transactions on Accounting Equation.

c) Calculate Closing Capital after all the above transactions.

Case:

Following are the transactions in the books of M/s Sharma & Co. for June 2023:

Jun 1 – Cash in hand ₹10,000, Bank balance ₹50,000

Jun 3 – Deposited ₹5,000 into Bank

Jun 5 – Purchased goods from Anil for ₹15,000 + IGST @ 18% on credit

Jun 7 – Sold goods to Sunil for ₹20,000 + IGST @ 18% on credit

Jun 10 – Received cheque from Sunil for full payment and deposited into bank

Jun 12 – Paid Anil by cheque after availing 2% cash discount

Jun 15 – Bank charged interest ₹500 not recorded in books

Questions:

a) Pass Journal entries for the above transactions.

b) Post entries relating to Anil in his Ledger Account and balance it.

c) Prepare a Bank Reconciliation Statement as on 30th June if Bank Pass Book shows a
balance of ₹53,500.