CBSE Class 11 Accountancy Sample Paper Set 19

PART-A

1. What is meant by voucher? 

2. Give two examples of internal users of accounting information. 

3. Give meaning of reserve.

4. Who is a Payee of a bill? 

5. Give meaning of gross block of fixed assets.

6. Define a cross cheque. 

7. Explain any two of the following accounting terms giving an example in each case: 

a. Current asset

b. Long term liability

c. Recurring expenses

8. In accounting the sole proprietor and his business are treated not as one but as different entities. Why? 

9. What are the objectives of a trial balance? 

10. Prepare a trial balance on the basis of following transactions.

- Started business with cash Rs. 25000

- Furniture purchased Rs.2000

- Cash purchases Rs.5000

- Paid rent Rs.500

- Cash sales Rs.2000

11. Explain the transactions which affect the bank reconciliation statement? 

12. The debtors of a business on 31st December, 1995 amounted to Rs.17500 of which Rs.1050 was likely to be bad debts. On 30th September, 1995 Rs.500 were received on account of a debt formerly written off as bad, and the bad debt actually written off in 1995 were Rs.775. show the treatment of these items in profit and loss a/c and in the balance sheet. 

13. Journalize the following transactions :

• Started business with cash Rs.50000 and goods Rs.30000.

• Purchased goods for cash Rs.30000 and on credit from Karan Rs.20000. 

• Goods costing 40000 were sold for Rs.55000. 

• Withdrew cash for personal use Rs.10000. 

• Rent outstanding Rs.2000

14.Shakti cements purchased on 1st January, 2004 a plant for Rs. 80000.On 1st April, 2005 it purchased additional plant costing Rs.48000. On 1st September, 2006 the plant purchased on 1st January 2004 was sold for42000 and on the same date a fresh plant was purchased for 75000. Depreciation is provided at 10% p.a. on the diminishing balance method. Accounts are closed on 31st December, each year. 

15. Anil sold goods to Mukul for Rs.20000, taking a bill of exchange at three months, dated 1st August, 2006. On 4th October, 2006, Anil got the bill discounted at 6% p.a. with his bankers. At maturity the bill was returned by the bankersdishonored with Rs.50 as noting charges. Mukul paid Rs.10000 and expenses immediately and accepted another bill at three months for the balance amount and interest at 6% p.a. but before maturity Mukul became insolvent and ultimately paid 60 paise in a rupee. Pass journal entries in the books of Anil. 

16. Rectify the errors: 

1. Sale of goods to Madan Rs.6000 were entered in the sales book as Rs.600

2. A credit purchase of Rs.1500 from Ajay has been wrongly passed through the sales book.

3. Repairs to building Rs.300 were debited to building account.

4. Rs.2050 paid to Rohit is posted to the debit of Mohit’s account as Rs.5020.