CBSE Class 11 Accountancy Sample Paper Set 08 Solved

CBSE Class 11 Accountancy Sample Paper Set 8 Solved. It’s always recommended to practice as many sample papers as possible before the examinations. Students can download the sample papers and also question papers of previous years to practice and score better marks in examinations. Refer to other links too for more sample papers. 

1. Proprietor of a firm has taken goods for his personal use. The accountant has accounted it as sale in them books of accounts. Is he correct in his accounting?

2. Give two examples of Intangible Assets.

3. In which basis of accounting, Outstanding expenses are not recorded?

4. What is meant by a ‘Trial Balance’?

5. Total of the purchases invoices recorded in the Purchases Book is posted to the debit side of the Purchases Account in the Ledger and credited to the accounts of suppliers. Do you agree? Give reasons.

6. Distinguish between Cash Basis of Accounting and Accrual Basis of Accounting on the basis of ‘reliability’ and ‘suitability’.

7. Explain any three advantages of Accounting.

8. Confidence and trust that the reported information is a reasonable representation of the actual items and events, that have occurred, depicts which qualitative characteristic of accounting information? Name and explain it.

Also explain any other two qualitative characteristics of the accounting information.

9. Due to a major loss in the current year, the accountant of the firm has not charged depreciation on fixed tangible assets. Whether his decision not to charge depreciation is correct? What will be the impact of the decision on financial statements?

10. (i) Mention any one difference between journal and ledger.

(ii) Mohan & Co. sold goods amounting to Rs.50,000 at a trade discount of 5% to GSC Co. As per the terms, if GSC Co. made full payment to Mohan & Co. within 15 days it will get Cash discount of 2%. GSC Co. paid the full amount within the stipulated time. Determine the amount of Cash discount that GSC Co. may get. Also pass a journal entry to record this transaction in the books of Mohan & Co.

11. a.Give an example for a transaction which results in :

         Increase in one liability, decrease in another liability.

b.Pass journal entries for the following:

Goods destroyed by fire Rs.80,000; Insurance Co. admitted and paid claim for 70% amount.

12. X started a business on 1st April, 2012 with a capital of Rs. 50,000 and a loan of Rs. 25,000 borrowed from Y. During 2012 – 13, he had introduced additional capital of Rs. 25,000 and had withdrawn Rs. 15,000 for personal use. On 31st March, 2013 his assets were Rs. 1,50,000. Calculate his closing capital as on 31st March, 2013 and profit made or loss incurred during the year 2012 – 13.

13. (i) Give two differences between Profit and Gain.

(ii) Distinguish between non - current assets and current assets by giving two examples of each.

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