CBSE Class 11 Accountancy Revision Assignment Set I

1. Methods of preparing trial balance?

2. Define depreciation?

3. Explain internal users and external users of accounting information?

4. Explain debit note and credit note?

5. Prepare machinery account:

a. A company purchased machinery for Rs.50,000 on 01-07-1999. Another machinery costing Rs.10,000 was purchased on 01-09-2000. On 31-12-2001 machinery purchased in 1999 was sold at a loss of Rs.5,000. The company charges depreciation @15% on diminishing balance method. Accounts are closed on Dec. 31^st each year.

6. The following balances appears in the books of Kanthi & Sons;

01-01-2006 machinery account Rs.40,000

01-01-2006 provision for depreciation Rs.18,000

01-01-2006 they decided to sell a machinery for Rs.4,350. This machine was purchased in January 2002 for Rs.8,000. The firm has been charging depreciation @ 10% p.a. on straight line method. Prepare machinery account and provision for depreciation account on 31-12-2006.

7. Explain the meaning of following terms:

a. Drawings

b. Creditors

c. Debtors

d. Expenses

e. Expenditure

f. Revenues

g. Gains

h. Profits

i. Losses

j. Entity

k. Transaction

l. Goods

m. Purchases

n. Sales

o. Voucher

p. Discount

q. Liabilities

r. Assets

s. Stock

8. Prove that the accounting information tallies after each of the following transactions;

a. Started business with cash ₹ 1,00,000 building ₹ 50,000

b. Depreciation of building ₹ 2,000

c. Purchased goods ₹ 3,000 from Banu

d. Sold goods costing ₹ 1,000 for ₹ 1,500

e. Prepaid insurance ₹ 300

f. Outstanding salary ₹ 1,000

g. Interest on drawings ₹ 500

h. Interest on capital ₹ 200

i. Paid salary ₹ 2,000

9. Enter the following transactions in the cash book with cash & bank columns:

01-12-2010 Cash in hand 50,000 Cash at bank ₹ 25,000

02-12-2010 Paid to Rajan by cheque ₹ 500

03-12-2010 Received a cheque from Raju ₹ 3,000

Please click the below link to access CBSE Class 11 Accountancy Revision Assignment Set I